[FUD] Mt. Gox CEO confess(in other words) to be bankrupt / insolvent

[bananas]

TOKYO, Feb. 17 (UPI) -- The head of Mt. Gox, a Tokyo-based bitcoin exchange, said customers are concerned about their funds' security, but didn't explain why withdrawals were frozen.

Mark Karpeles, chief executive officer of Tibanne, which operates Mt. Gox, declined to discuss growing customer concerns about the financial status of the exchange, which has frozen customer withdrawals for more than a week, saying responses would be limited to only technical-related questions.

"We understand your concern on this issue," Karpeles told the Wall Street Journal in an email, "however, any customer-related questions are confidential."

Later Monday, Mt. Gox posted a statement on its website indicating it implemented a solution and "should be able to resume withdrawals soon." The statement said Mt. Gox would start withdrawals at a moderate pace and impose new daily and monthly limits.

Customers of the company have been pressing the trading platform to disclose more about its financial well-being.

In his email interview with the Journal, Karpeles repeatedly said the company's solvency was confidential but that it had discussed its business model with Japanese authorities "to ensure that we are operating within the law here."

Read more: http://www.upi.com/Business_News/2014/02/17/Mt-Gox-CEO-apologizes-for-bitcoin-withdrawal-freeze/UPI-99051392667941/#ixzz2uARVjdlq

[Holliday]

While MtGox may or may not be insolvent, your thread title appears to be an outright lie.

Maybe you can provide a link where M.K. does confess to being insolvent?

[bananas]

While MtGox may or may not be insolvent, your thread title appears to be an outright lie.

Maybe you can provide a link where M.K. does confess to being insolvent?

Why would it be confidential if they are solvent? They can't lie due to legal implications, so it is just confidential.
There is no other way to interpret his statement.

[dreamspark]

Change the title, clearly the title and content do not match

[hostmaster]

While MtGox may or may not be insolvent, your thread title appears to be an outright lie.

Maybe you can provide a link where M.K. does confess to being insolvent?

Why would it be confidential if they are solvent? They can't lie due to legal implications, so it is just confidential.

wisely said

[ledmaniak]

While MtGox may or may not be insolvent, your thread title appears to be an outright lie.

Maybe you can provide a link where M.K. does confess to being insolvent?

Why would it be confidential if they are solvent? They can't lie due to legal implications, so it is just confidential.

What explicitly tells you they are NOT solvent?

[rograz]

The whole point is to get people to sell their goxbtc before reading the post, so the content doesn't really matter.

[Holliday]

While MtGox may or may not be insolvent, your thread title appears to be an outright lie.

Maybe you can provide a link where M.K. does confess to being insolvent?

Why would it be confidential if they are solvent? They can't lie due to legal implications, so it is just confidential.

I don't know, but I'm not going to assume things or try and twist words into something they aren't.

I hope Gox dies a fiery death (after customers get their funds out and learn to be more informed when choosing an exchange), but I'm not going to lie about what has happened and what has not happened. The CEO hasn't confessed to anything.

[ISAWHIM]

1: Old news...
2: You are an idiot if that is how you translated that information as a confession or as bankrupt, or insolvency...
3: Customer information is always confidential, without a warrant...
4: Lack of even asking a "technical question", shows the poor understanding of anything worthy of printing...


How about this food for thought... All these young exchanges, who can't sell for less, because they purchased so high, when they started only a year/months ago... now have almost zero "new dollars" moving into the exchanges. (Translation, what few dollars they have, will soon be consumed by the cashing-in of all the coins which will be moving out of Gox soon. The more FUD on Gox, the lower Gox goes, the more cheap coins we get to cash-out on the other exchanges. Sooo ironic, isn't it. lol.)

Then again, I assume you have a Gox account, and know this... With hopes this FUD brings you some lower coins to purchase. lol... That ride is over. If you have not purchased your discount coins yet, you just lost your chance. Buy some higher priced coins, at a loss, and you might still have a chance at easy money from the other exchanges.

When the "price is low", the name of the game is, "get more coins"... (Buying or trading) People don't care about the dollars they can get out, when the price is low. Only idiots cash-out at the bottom. Smart ones are buying, and have sold the coins they got at $900, for $600... waited for the bottom, and purchased them back at $100, for gains.

What are the other exchanges doing... Nothing.. waiting... not making any money or BTC... being followers without any ability to earn. All while Gox strolls along, earning and trading all day long.

[bananas]

While MtGox may or may not be insolvent, your thread title appears to be an outright lie.

Maybe you can provide a link where M.K. does confess to being insolvent?

Why would it be confidential if they are solvent? They can't lie due to legal implications, so it is just confidential.

I don't know, but I'm not going to assume things or try and twist words into something they aren't.

I hope Gox dies a fiery death (after customers get their funds out and learn to be more informed when choosing an exchange), but I'm not going to lie about what has happened and what has not happened. The CEO hasn't confessed to anything.

Nobody other than Mark is lying(or omitting), the obvious is just so obvious. No need for a literal statement. I hope they don't die before managing to pay their customers, but they are currently insovent. Confidential solvency, refusing to explain frozen USD. Nothing more is needed to say.

[martins]

oh well let me put myself inside the Mark Karpeles head... IF i know a buggy software who can be exploited in some way as a EXCUSE to justify my acts i WILL use it to my OWN benefit and BLAME the software developers for being lazy and not fixing the bug in the code... bla bla bla aply lies a little here and there.

In fact Bitcoin developers had fixed this buggy version many years ago which Mt.gox says its bugged.

Lie went true and no one realized my scam!!! great theaft! are you gringos vary smart hmmm???

[Bit_Happy]

Bogus title about a bogus company......

[Holliday]

While MtGox may or may not be insolvent, your thread title appears to be an outright lie.

Maybe you can provide a link where M.K. does confess to being insolvent?

Why would it be confidential if they are solvent? They can't lie due to legal implications, so it is just confidential.

I don't know, but I'm not going to assume things or try and twist words into something they aren't.

I hope Gox dies a fiery death (after customers get their funds out and learn to be more informed when choosing an exchange), but I'm not going to lie about what has happened and what has not happened. The CEO hasn't confessed to anything.

Nobody other than Mark is lying(or omitting), the obvious is just so obvious. No need for a literal statement. I hope they don't die before managing to pay their customers, but they are currently insovent. Confidential solvency, refusing to explain frozen USD. Nothing more is needed to say.

Oh, trust me. A literal statement would have a massive impact.

That hasn't happened yet, and that is my only argument. Your thread title is a lie, regardless of what the actual truth of the situation may be.

[bananas]

While MtGox may or may not be insolvent, your thread title appears to be an outright lie.

Maybe you can provide a link where M.K. does confess to being insolvent?

Why would it be confidential if they are solvent? They can't lie due to legal implications, so it is just confidential.

I don't know, but I'm not going to assume things or try and twist words into something they aren't.

I hope Gox dies a fiery death (after customers get their funds out and learn to be more informed when choosing an exchange), but I'm not going to lie about what has happened and what has not happened. The CEO hasn't confessed to anything.

Nobody other than Mark is lying(or omitting), the obvious is just so obvious. No need for a literal statement. I hope they don't die before managing to pay their customers, but they are currently insovent. Confidential solvency, refusing to explain frozen USD. Nothing more is needed to say.

Oh, trust me. A literal statement would have a massive impact.

That hasn't happened yet, and that is my only argument. Your thread title is a lie, regardless of what the actual truth of the situation may be.

I hope you like the new title.

[Holliday]

While MtGox may or may not be insolvent, your thread title appears to be an outright lie.

Maybe you can provide a link where M.K. does confess to being insolvent?

Why would it be confidential if they are solvent? They can't lie due to legal implications, so it is just confidential.

I don't know, but I'm not going to assume things or try and twist words into something they aren't.

I hope Gox dies a fiery death (after customers get their funds out and learn to be more informed when choosing an exchange), but I'm not going to lie about what has happened and what has not happened. The CEO hasn't confessed to anything.

Nobody other than Mark is lying(or omitting), the obvious is just so obvious. No need for a literal statement. I hope they don't die before managing to pay their customers, but they are currently insovent. Confidential solvency, refusing to explain frozen USD. Nothing more is needed to say.

Oh, trust me. A literal statement would have a massive impact.

That hasn't happened yet, and that is my only argument. Your thread title is a lie, regardless of what the actual truth of the situation may be.

I hope you like the new title.

It's an improvement.

[ISAWHIM]

The only confession was the confession that the reporters question was irrelevant.

Yes, because when I am bankrupt, or insolvent... I pay for my whole facility to be moved, and then setup a press-release to allow for technical questions to be asked...

Then stay running, all while not paying a dime... because I am bankrupt, and thus have no money for bills or rent of the new place... Again, also thus being insolvent, yet still somehow managing to do millions in withdraws... With imaginary money.

Yet another noob detective, just learned what a bitcoin was, and has all the answers to an exchange that helped start the whole thing. Giving bitcoin the face it has now. Led by noob-exchanges, who actually don't have money to trade, and thus, remain high, because no-one there could sell for less, if they wanted to, and no-one there has money to pay those crazy high prices.

They will fall to $420, as Gox rises to $420, then all fall again at the same rate, until more free-money is deposited into all exchanges. Stop worrying about it, and live with the choices you made. If you got stuck with high coins, sell them and catch a low, or hold them until price rises. If you are sitting on cash, buy while it is low, and wait for it to rise, or keep waiting for the next big cash-out to catch them lower.

No-one actually listens to FUD. You just think they do. Bots and real investors are the ones controlling the market, the FUD-mongers are just looking for reasons why shit happens... like people who invented gods, because they wanted answers to shit that just happens naturally. (Making up stories, just like FUD as the explanations.)

[bananas]

Then again, I assume you have a Gox account, and know this... With hopes this FUD brings you some lower coins to purchase. lol... That ride is over. If you have not purchased your discount coins yet, you just lost your chance. Buy some higher priced coins, at a loss, and you might still have a chance at easy money from the other exchanges.

I assume you have and want to recover your loss, the obvious about his statement can't be more obvious. I do not have and would not have an account there after reading that. I am completely neutral. Solvency is NOT customer information, it is company informatiion, it is NOT confidential.

[franky1]

most of these FUD posts seem to be becoming a little game for the trolls. with them trying to see how far their FUD can spread and if their FUD can get as far as mainstream media.

i have no idea why the forum moderators thought they should remove the newbie zone.. if its about disk space to hold all these messages, then they should use their donatons to buy more server space, and not allow newbies to troll the forum, as its starting to become noticeably worse

[BTCisthefuture]

Very misleading thread topic.

With that said,  I expect gox to go out of business at some point in 2014, maybe early 2015. Whether they have money or not I really can't imagine any customers choosing to stay with them once/if they get their money back.

[BitCoinNutJob]

silly thread title