Mt Gox CEO resigns from Bitcoin Foundation

[tvbcof]

Karpeles is goneski and Vessenes is still chairmen of the board.  That match didn't last long.  To add insult to injury, Mark ponied up like $100k or something and I'd be surprised if Vess contributed anything.

Mark should have just handed over all of the customer data and took what he could get from the Coinlab deal.  The historic data is almost certain to be lost (to the US Federales) anyway unless Mark destroys it, but that would almost certainly have significant negative ramifications for him personally.  I find it doubtful that he would do that to say the least.

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[Skinnkavaj]

People talking about two people resigning, which is the other one than Mark Karpeles?

[seriouscoin]

People talking about two people resigning, which is the other one than Mark Karpeles?

Our monkey boy, Charlie..... for involving with money laundering for drug dealers.

[smoothie]

That should free up some his time to work on more important issues. 

That means either someone from foundation or Karpeles are selling coins.

Or anyone that bets on news.

Someone that puts up a wall like that doesn't intend on selling it all.

We have seen this so many times.

[seriouscoin]

That should free up some his time to work on more important issues. 

That means either someone from foundation or Karpeles are selling coins.

Or anyone that bets on news.

Someone that puts up a wall like that doesn't intend on selling it all.

We have seen this so many times.

But but.... the noobs havent seen it.... and they're so sure..... bitcoin is doomed!

[dopecoindude]

Is it over now?

Lets hope it is! 

[smoothie]

That should free up some his time to work on more important issues. 

That means either someone from foundation or Karpeles are selling coins.

Or anyone that bets on news.

Someone that puts up a wall like that doesn't intend on selling it all.

We have seen this so many times.

But but.... the noobs havent seen it.... and they're so sure..... bitcoin is doomed!

Let the weak hands sell.

[hostmaster]

its good this mtgox hurting Bitcoin more than any other thing

[bananas]

Good news but watch GoxCoin price down to usd$0.01

[BCB]

The historic data is almost certain to be lost (to the US Federales) anyway unless Mark destroys it,

Are you kidding.  The Feds already have that entire database.

[bananas]

Bitstamp sell order at $579.34     for 9109 BTC   Total: $5,277,325.37

Smells like MtGox

[bomb7]

Good news but watch GoxCoin price down to usd$0.01

I hope so, I`ll buy a million at that price - even if I have a 90% chance of losing it all.

As for a sell wall being placed there by insiders ... you guys need to know that regular traders do that in order to push the price down so they can buy cheaper coins. And when they want the price to increase they please a big buy wall (or a string of smaller ones). The wall makes it so you have to outbid them in order to get your order processed, otherwise it will be stuck in line behind theirs for a long time. It also has the psychological effect of making scared people buy or sell because they think everyone else is buying/selling (when really it`s a market manipulation that goes back and forth and you can just wait for the swing in the opposite direction).

[glendall]

I don't know about anyone else but I'm gonna celebrate when Gox false off of the Internet.

They caused enough trouble, be great for another more competent exchange with better software take over, such as Kraken.

[grifferz]

The thread on the foundation's board was interesting:

https://bitcoinfoundation.org/forum/index.php?/topic/740-petition-to-remove-mark-karpeles-from-the-bitcoin-foundation-board/

I would have loved to have been a fly on the virtual wall for some of their internal discussions over this, as I don't think it very likely that the other board members would have remained totally silent until Karpeles out of nowhere would just offer his resignation.

Do they now have a problem with quorum? A poster there mentioned that they had to add two board spots to have a chance at quorum, and that losing Karpeles would cause problems there again.

[Justin00]

FINALLY!!!!! Someone else who see's it.
friend, I have been searching for you for a long time

What does the bitcoin foundation do exactly? So far I've only heard bad press about them.

They dont do crap.... dont be deceived by their name. They're a private organization that should not represent us, bitcoin community. To me many of them are just plain scammers.... like " Hero Member" on this forum.

[Justin00]

ooo you joined in 2012.
so you know the truth about most of these scum bags yeah ??
You know how some of them got fancy cars =)

Its funny cause I pretty much log everything, including forums. I will post up the hole bitcoin history, with everyones quotes.. for the SEC or anyone searching on google to see I just need a spare 15 weeks to get it all in order. I'm not so good at recording data I save

[robelneo]

 Hopefully this will not happen again in the future it imperil the cryptocurrency industry we can now move forward and learn on this
hopefully bitcoin's value will zoomed to $1000 again

[CoinsForTech]

Hopefully this will not happen again in the future it imperil the cryptocurrency industry we can now move forward and learn on this
hopefully bitcoin's value will zoomed to $1000 again

In the long run this is definitely a positive. Anyone in the community for a few months knows that MtGox has been the weakest link in the frontline of big bitcoin businesses for a long time.

The issue is how the general public and media will react in the short term.

[Armis]

I don't know about anyone else but I'm gonna celebrate when Gox false off of the Internet.

They caused enough trouble, be great for another more competent exchange with better software take over, such as Kraken.

You know what, given the whole air of impropriety and malfeasance people continued, and still today, continue to invest in Mt. Gox btc, so I no longer wish them gone, I now see that people like them are necessary evils for the market to operate in a way that values excellence and integrity. 

"Mt Gox" type businesses will always exist in the cryptocurrency industry.

[Armis]

The thread on the foundation's board was interesting:

https://bitcoinfoundation.org/forum/index.php?/topic/740-petition-to-remove-mark-karpeles-from-the-bitcoin-foundation-board/

I would have loved to have been a fly on the virtual wall for some of their internal discussions over this, as I don't think it very likely that the other board members would have remained totally silent until Karpeles out of nowhere would just offer his resignation.

Do they now have a problem with quorum? A poster there mentioned that they had to add two board spots to have a chance at quorum, and that losing Karpeles would cause problems there again.

After reading the first page of that my neck got tired of shaking back and forth. 

I could not believe that they confused 'membership revocation' with 'director removal'.   Just because you remove someone from the board doesn't mean that you remove them as a member of the community.   Clearly, if you remove them from the community they are automatically removed from the board if membership is required to be a board member.