Roger Ver : Gox "worst-run business in the history of the world".

[repentance]

“Gox is the worst-run business in the history of the world,” said Roger Ver, in an instant message interview. Ver is a bitcoin advocate who lives across the street from Mt. Gox’s Tokyo offices and tried to help out the troubled exchange the last time it was hacked, back in 2011.

http://www.wired.com/wiredenterprise/2014/02/bitcoins-mt-gox-implodes/

The shit has truly hit the fan.

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[rat]

lol. he was endorsing them not too long ago.

http://www.youtube.com/watch?v=UP1YsMlrfF0

[repentance]

lol. he was endorsing them not too long ago.

Charlie Shrem was sticking up for them earlier today and hours later claiming he'd been "lied to".

People can't distance themselves from MtGox fast enough today.

[WuttWutt]

it's incredible that pretty much everyone in this bitcoin community from the bottom to the top is a motherfucker

[greyhawk]

lol. he was endorsing them not too long ago.

http://www.youtube.com/watch?v=UP1YsMlrfF0

if by "endorse" you mean "drugged and forced to read a statement at gunpoint", then yeah sure

[BitCoinNutJob]

why dont these early adopters buy up the business & help the little guys out ? re-staff & limit the BTC withdraws.

its been done before.

[greyhawk]

its been done before.

yes

i remember

2008 - The Bear Stearns Companies, Inc.
2008 - Fannie Mae and Freddie Mac
2008 - The Goldman Sachs Group, Inc. bailed out by the federal government and Berkshire Hathaway
2008 - Morgan Stanley bailed out by The Bank of Tokyo-Mitsubishi UFJ
2008-2009 - American International Group, Inc. multiple times
2008 - 2008 United Kingdom bank rescue package
2008 - Citigroup Inc.
2009 - Bank of America
2009 - CIT Group $3 billion by its bondholders in a failed attempt to avoid a bankruptcy. This bailout only delayed the bankruptcy.

[repentance]

why dont these early adopters buy up the business & help the little guys out ? re-staff & limit the BTC withdraws.

its been done before.

MtGox is up to its neck in legal dramas.  Why would anyone buy a company which regulators or law enforcement might shut down any day?

People are already furious about MtGox being unable to process withdrawals in a timely manner.  Any new owners who tried to limit withdrawals would quickly find themselves facing lawsuits.

[BitCoinNutJob]

why dont these early adopters buy up the business & help the little guys out ? re-staff & limit the BTC withdraws.

its been done before.

MtGox is up to its neck in legal dramas.  Why would anyone buy a company which regulators or law enforcement might shut down any day?

People are already furious about MtGox being unable to process withdrawals in a timely manner.  Any new owners who tried to limit withdrawals would quickly find themselves facing lawsuits.

They said the same about fulltilt, also facing legal issues.

Personally i'd rather a re-branded gox with new CEO up & working vs trying to fight funds recovery legally.  I wouldnt be complaining even with a 1 btc withdraw limit per day.  Cant speak for anyone else.

[pleiotropik]

Jon Corzine and Mark Karpeles walk into a bar...

[heskey]

lol. he was endorsing them not too long ago.

http://www.youtube.com/watch?v=UP1YsMlrfF0

Lol, you can even see that he's reading from a teleprompt! Probably got a good amount of btc for doing that. Just terrific.

[ninjarobot]

Roger had at least 24000 bitcoins tied up in MtGox since 2012 due to the Bitcoinica liquidation. (MtGox refused to hand over the keys to the account to the court appointed liquidator citing 'privacy reasons' so the funds remained 'frozen' until the demise of MtGox yesterday).

He also released a new 'teleprompter' video today distancing himself from Gox and clarifying statements made in his earlier video:

http://www.youtube.com/watch?v=GRIJ_jpmwzo

[Jeronimus]

lol. he was endorsing them not too long ago.

http://www.youtube.com/watch?v=UP1YsMlrfF0

Lol, you can even see that he's reading from a teleprompt! Probably got a good amount of btc for doing that. Just terrific.

I don't think you can hold against him that he is reading from a speech he himself composed with the help of others, as long as he read it and agreed with the content. Not everyone can remember every word he wrote down himself or asked others to help him write down something he agrees with.
I don't think he is trying to hide anything there, as it's just too obvious he is reading of the screen. You know he can look at the video himself which is NOT live and do another recording if he really wanted to hide it.

With Roger Ver while i am leaning towards him having profited from this situation, i cannot in any way be 100% certain and there is a chance he just wasn't smart enough to not say anything when there was doubt about mtgox's financial situation.
His posts certainly ruined many peoples' lives that took it as an affirmation of gox being solvent.

Him talking about MtGox being incompetent when himself was incompetent (given it was no outright attempt to lie/fraud) is certainly ironic.

I give him the benefit of doubt, and hope he will watch his moves more carefully in the future.

[paradigm_smasher]

i Have zero coins in mtgox but I am pretty sure a lot of people would like an explanation from Roger Ver why he fucked over people to gain fame/btcs/who knows..

With Roger Ver while i am leaning towards him having profited from this situation, i cannot in any way be 100% certain and there is a chance he just wasn't smart enough to not say anything when there was doubt about mtgox's financial situation.

but he DID say something. he actually said mtgox was a healthy company when he should have shut his whore mouth.

[borgfish]

isn't he the one with nick memorydealers ?
well, guess you gotta see where you are in this hostile shark ridden sea. He has lost 110k btc in bitcoinica only to hear the "safe funds" within mtgox dissappeared also.

[Armis]

Roger had at least 24000 bitcoins tied up in MtGox since 2012 due to the Bitcoinica liquidation. (MtGox refused to hand over the keys to the account to the court appointed liquidator citing 'privacy reasons' so the funds remained 'frozen' until the demise of MtGox yesterday).

He also released a new 'teleprompter' video today distancing himself from Gox and clarifying statements made in his earlier video:

http://www.youtube.com/watch?v=GRIJ_jpmwzo

We need to understand the whole picture -- I agree Roger, kindly share the WHOLE picture.

You said you did the video purely as a favor to Mt Gox, kindly tell us who at Mt Gox asked you to do the video?  Who wrote the words that you read in that video?  What was your relationship with Mt Gox, and it's CEO at the time of the first video? 

You specifically said: "I made a video stating that their fiat withdrawal problems were not being caused by a lack of liquidity. I made no claims regarding their solvency."  You do realize that, "liquidity' and "solvency" are symbiotic, and that any statement by you about Mt Gox at that sensitive time would be construed as an endorsement?   Why would you endorse Mt Gox at that troubled time in their development? 

In this video you said: "This issue was caused by poor programming skills and a total lack of book keeping on the part of Mtgox", is it true that Mt Gox allowed you to see their books, some of their financial records?  What did you know about their programming and bookkeeping and when did you know it?   Was it before you invested the "... life changing amount of bitcoins stuck in Mtgox" or just before making this new video.

BTW: did you sign the petition to remove MT Gox CEO from the btc foundation.  In what ways if any did you support the protesters at Mt Gox?  When did you stop trading at Mt Gox?   

With answers to those questions we could get a glimpse of that picture you are talking about.

[MemoryDealers]

You said you did the video purely as a favor to Mt Gox, kindly tell us who at Mt Gox asked you to do the video?

Either Mark or Gonzague.

Who wrote the words that you read in that video?

I wrote it all myself.

What was your relationship with Mt Gox, and it's CEO at the time of the first video?

Nothing other than a customer of Mtgox.  

You specifically said: "I made a video stating that their fiat withdrawal problems were not being caused by a lack of liquidity. I made no claims regarding their solvency."  You do realize that, "liquidity' and "solvency" are symbiotic, and that any statement by you about Mt Gox at that sensitive time would be construed as an endorsement?

Having liquidity is no guarantee of solvency.  In hindsight, we now know that Mtgox has likely been insolvent for years.
I'm sorry you have a hard time understanding the difference.

Why would you endorse Mt Gox at that troubled time in their development?  

Because as stated in the video, I am sure the fiat withdrawal delays at that time were not caused by a lack of liquidity.
In hindsight,  I feel terrible about having made the video.  I was deceived by Mtgox,  and my video led to who knows how many more people trusting Mtgox, and losing money because of it.  If I could go back in time, I would never have made the video.

In this video you said: "This issue was caused by poor programming skills and a total lack of book keeping on the part of Mtgox", is it true that Mt Gox allowed you to see their books, some of their financial records?

Isn't it clear to anyone who is paying attention?  Mtgox lost everyones bitcoins and didn't notice until 99% of them were gone.

What did you know about their programming and bookkeeping and when did you know it?

I found out this week as well.

Was it before you invested the "... life changing amount of bitcoins stuck in Mtgox" or just before making this new video.

I have had about 24,000 BTC from Bitcoinica stuck in Mtgox for over a year.  Mark refused to turn over those funds to the liquidator.  Now any chance I had of getting those back are gone too.  That likely makes me one of the people who lost the most money out of everyone involved with this MtGox nightmare.

BTW: did you sign the petition to remove MT Gox CEO from the btc foundation.

I'm the one who directly asked Mark to step down.  

In what ways if any did you support the protesters at Mt Gox?  

I wasn't in Tokyo for most of the protest,  but the one day I was,  I tried to bring them hot tea.
https://twitter.com/rogerkver/status/436663439214120960  

With answers to those questions we could get a glimpse of that picture you are talking about.

The picture I am talking about is Bitcoin,  not my interactions with Mtgox.

[ninjarobot]

I'm sorry for your loss Roger. Losing 24000 BTC in a single day must be tough. Especially in the way it happened.

Isn't it clear to anyone who is paying attention?  Mtgox lost everyones bitcoins and didn't notice until 99% of them were gone.

Actually no that is not obvious to me at all. How do you lose everyone's bitcoins without noticing exactly?

[Jeronimus]

I'm sorry for your loss Roger. Losing 24000 BTC in a single day must be tough. Especially in the way it happened.

Isn't it clear to anyone who is paying attention?  Mtgox lost everyones bitcoins and didn't notice until 99% of them were gone.

Actually no that is not obvious to me at all. How do you lose everyone's bitcoins without noticing exactly?

I agree. I can swallow everything else, but this particular point is nonsense/not well thought out. Again, i give the benefit of doubt.

There is no way 99% of the coins would vanish slowly without them going "Oh wait, 30% of the coins in our database are NOT backed by real BTC we are holding in all our wallets combined"

Maybe if not at 30% at 50% they SURELY should have noticed SOMETHING.

It's a complete garbage theory which no judge in court would buy even for a second, even if Karpeles had the IQ of fruit.
He cannot be THAT stupid given he knows how to program and has been running some business before.

For the incompetence theory to hold, we would have to be looking at the stupidest people walking earth to run MtGox.

If not karpeles, SOMEONE there would have noticed....

[Phinnaeus Gage]

Jon Corzine and Mark Karpeles walk into a bar...

...but don't hit me as hard as you hit the monkey.

[Jeronimus]

I'm sorry for your loss Roger. Losing 24000 BTC in a single day must be tough. Especially in the way it happened.

Isn't it clear to anyone who is paying attention?  Mtgox lost everyones bitcoins and didn't notice until 99% of them were gone.

Actually no that is not obvious to me at all. How do you lose everyone's bitcoins without noticing exactly?

I agree. I can swallow everything else, but this particular point is nonsense/not well thought out. Again, i give the benefit of doubt.

There is no way 99% of the coins would vanish slowly without them going "Oh wait, 30% of the coins in our database are NOT backed by real BTC we are holding in all our wallets combined"

Maybe if not at 30% at 50% they SURELY should have noticed SOMETHING.

It's a complete garbage theory which no judge in court would buy even for a second, even if Karpeles had the IQ of fruit.
He cannot be THAT stupid given he knows how to program and has been running some business before.

For the incompetence theory to hold, we would have to be looking at the stupidest people walking earth to run MtGox.

If not karpeles, SOMEONE there would have noticed....

[Phinnaeus Gage]

I'm sorry for your loss Roger. Losing 24000 BTC in a single day must be tough. Especially in the way it happened.

Isn't it clear to anyone who is paying attention?  Mtgox lost everyones bitcoins and didn't notice until 99% of them were gone.

Actually no that is not obvious to me at all. How do you lose everyone's bitcoins without noticing exactly?

I agree. I can swallow everything else, but this particular point is nonsense/not well thought out. Again, i give the benefit of doubt.

There is no way 99% of the coins would vanish slowly without them going "Oh wait, 30% of the coins in our database are NOT backed by real BTC we are holding in all our wallets combined"

Maybe if not at 30% at 50% they SURELY should have noticed SOMETHING.

It's a complete garbage theory which no judge in court would buy even for a second, even if Karpeles had the IQ of fruit.
He cannot be THAT stupid given he knows how to program and has been running some business before.

For the incompetence theory to hold, we would have to be looking at the stupidest people walking earth to run MtGox.

If not karpeles, SOMEONE there would have noticed....

I was living in Tunica, MS, playing poker for a living, when my dad requested that I come to Brookings, SD, to help him with the motel, for he had to fire the manager for embezzling $20K USD. He didn't know a thing about books, always having her explain it to him. Well, after the bills weren't being paid, he took it upon himself to learn the shit. Took him a couple hours to see what's what.

When I arrived a few days later, he had it all figured out how the funds were drained, and not a single bill was paid for four months plus. One excuse is that during most days he went fishing when he wasn't around the motel doing repairs, etc.

I got my little sister to take care of the books, teaching her. Once, the books didn't balance, off by a penny. Dad was ready to take me fishing but I told him I couldn't go till the books balanced, being that it was off a cent. He then took a penny outta his pocket and put it in the till, stating it should balance now, let's go. I said it didn't work that way, besides I'm a penny over, not under. He then took two cents outta the till and said that it's now even, let's go fishing. A couple hours later I discovered and corrected the error, then we went fishing. Lake Sinai if you're interested.

To drive the point home, missing funds are easy to spot whether you know accounting or not. My illiterate dad had it figured out and all the pieces missing within two hours with no schooling on the subject whatsoever. (dad couldn't even spell the word "the")

Make no mistake. Mark Karpeles knew exactly what was going on. The only other option is that he was put in place ONLY as a figurehead. If that's the case, then something's really amiss. And, if you don't think that's not a possibility, please recall how the deal went down when Jed transferred the reins.

[smoothie]

“Gox is the worst-run business in the history of the world,” said Roger Ver, in an instant message interview. Ver is a bitcoin advocate who lives across the street from Mt. Gox’s Tokyo offices and tried to help out the troubled exchange the last time it was hacked, back in 2011.

http://www.wired.com/wiredenterprise/2014/02/bitcoins-mt-gox-implodes/

The shit has truly hit the fan.

LOL and he was endorsing them not 9 months ago.

 

[Armis]

Who wrote the words that you read in that video?

I wrote it all myself.

What was your relationship with Mt Gox, and it's CEO at the time of the first video?

Nothing other than a customer of Mtgox.  

You specifically said: "I made a video stating that their fiat withdrawal problems were not being caused by a lack of liquidity. I made no claims regarding their solvency."  You do realize that, "liquidity' and "solvency" are symbiotic, and that any statement by you about Mt Gox at that sensitive time would be construed as an endorsement?

Having liquidity is no guarantee of solvency.  In hindsight, we now know that Mtgox has likely been insolvent for years.
I'm sorry you have a hard time understanding the difference.

Why would you endorse Mt Gox at that troubled time in their development?  

Because as stated in the video, I am sure the fiat withdrawal delays at that time were not caused by a lack of liquidity.
In hindsight,  I feel terrible about having made the video.  I was deceived by Mtgox,  and my video led to who knows how many more people trusting Mtgox, and losing money because of it.  If I could go back in time, I would never have made the video.

In this video you said: "This issue was caused by poor programming skills and a total lack of book keeping on the part of Mtgox", is it true that Mt Gox allowed you to see their books, some of their financial records?

Isn't it clear to anyone who is paying attention?  Mtgox lost everyones bitcoins and didn't notice until 99% of them were gone.

Was it before you invested the "... life changing amount of bitcoins stuck in Mtgox" or just before making this new video.

I have had about 24,000 BTC from Bitcoinica stuck in Mtgox for over a year.  Mark refused to turn over those funds to the liquidator.  Now any chance I had of getting those back are gone too.  That likely makes me one of the people who lost the most money out of everyone involved with this MtGox nightmare.

[doctor just before giving you a shot] "... you may feel some pressure but it will be over shortly ..."


Roger, inasmuch as you may believe it was “purely as a favor” please consider the following: at the time of the first video your 24K btc being held by Mt Gox (MG) was literally under arrest -- not just in their care, but completely alienated from your control.   As such, it stands to reason that your visit that day was primarily concerning those funds, and probably not to make another 24K btc deposit.  

That video represented two things:

1) it highlighted why inherent conflicts of interest should be disclosed, and
2) the extent you were willing to compromise your integrity,

The reason for your MG visit that day was about your 24K btc not to do a PSA for MG.  It is very likely that the full extent of your holding in MG was limited to only what you could not control.  You knew MG had problems, you probably would not have gone there if you were comfortable with how they cared for your money; likewise you knew the general public was not comfortable with how MG cared for their money, however you willingly chose to overtly allay those concerns with the MG endorsement video.  Had you disclosed the reason for being there in the first place it would have shown the viewer a more accurate picture of MG.  

I believe you thought the 1st video would help in your effort to wrangle your 24K btc from MG, in so doing you were willing to needlessly place the public's interest in harms way to get your money.  Turns out you sold your soul, and stabbed the public in the back for nothing, and with that reality came video #2 -- the 'I said liquidity not solvency' video.

The semantic denotative difference between liquidity and solvency is irrelevant if the order is: "don't pay".  For example, if your house is on fire, you are told 4 fire trucks are on their way.  Upon arrival of the 1st truck the driver says: “sorry but I’m not liquid and I’m insolvent”; you're baffled and wonder 'wtf dude', but you see the 2nd truck arriving, its driver says: “sorry, I’m not liquid although I am solvent”.  As pissed as you are you know your house is more important than your 'pisstivity' besides the next truck has arrived. Driver 3 says: “sorry, although I am liquid I’m insolvent”, you are livid, totally frustrated, and your house is 50% consumed, that's when the 4th truck arrives, it is both liquid and solvent, yet none of the duty sworn firefighters act to put out the fire ...

As you can see from the above analogy it doesn't matter what they say if the intent is not to put out your fire, furthermore you can also see how your reasonable expectations was exploited and abused when they arrived to do nothing, serving only to distract you from considering other home saving solutions.

Had you known their intent you likely would not have called them in the first place.

Roger, your endorsement video was a distraction that facilitated the ongoing abuse of the public's trust by Mt Gox, the fact that you were in an adversarial relationship with MG at that time but choose not to disclose that material fact at any point gives me great pause.  

If the US Attorney's office sees your participation as 'aiding and abetting' MG's effort to defraud the public you will have a lot more 'splaning to do.

[doctor] ok, that's it, it might swell and bleed a little but you'll be ok.


personally, I don't think either video had enough of a market impact to do any material damage, so don't worry about it

[Phinnaeus Gage]

I'm sorry for your loss Roger. Losing 24000 BTC in a single day must be tough. Especially in the way it happened.

Isn't it clear to anyone who is paying attention?  Mtgox lost everyones bitcoins and didn't notice until 99% of them were gone.

Actually no that is not obvious to me at all. How do you lose everyone's bitcoins without noticing exactly?

I agree. I can swallow everything else, but this particular point is nonsense/not well thought out. Again, i give the benefit of doubt.

There is no way 99% of the coins would vanish slowly without them going "Oh wait, 30% of the coins in our database are NOT backed by real BTC we are holding in all our wallets combined"

Maybe if not at 30% at 50% they SURELY should have noticed SOMETHING.

It's a complete garbage theory which no judge in court would buy even for a second, even if Karpeles had the IQ of fruit.
He cannot be THAT stupid given he knows how to program and has been running some business before.

For the incompetence theory to hold, we would have to be looking at the stupidest people walking earth to run MtGox.

If not karpeles, SOMEONE there would have noticed....

Question: Can you name a fruit (no pud intended) that has an IQ of 190? Now, name a fruit (NPI) that's a member of Mensa France. Also, name a fruit that's very familiar with the banking system. When you're done, I name you a guy in Japan, originally from France, that fits the bill. I'll give you a hint: He's been in the news lately, even gracing the cover of USA Today yesterday.

BTW, Paymium is about to get their balls busted next.

[T.Stuart]

You said you did the video purely as a favor to Mt Gox, kindly tell us who at Mt Gox asked you to do the video?

Either Mark or Gonzague.

Who wrote the words that you read in that video?

I wrote it all myself.

What was your relationship with Mt Gox, and it's CEO at the time of the first video?

Nothing other than a customer of Mtgox.  

You specifically said: "I made a video stating that their fiat withdrawal problems were not being caused by a lack of liquidity. I made no claims regarding their solvency."  You do realize that, "liquidity' and "solvency" are symbiotic, and that any statement by you about Mt Gox at that sensitive time would be construed as an endorsement?

Having liquidity is no guarantee of solvency.  In hindsight, we now know that Mtgox has likely been insolvent for years.
I'm sorry you have a hard time understanding the difference.

Why would you endorse Mt Gox at that troubled time in their development?  

Because as stated in the video, I am sure the fiat withdrawal delays at that time were not caused by a lack of liquidity.
In hindsight,  I feel terrible about having made the video.  I was deceived by Mtgox,  and my video led to who knows how many more people trusting Mtgox, and losing money because of it.  If I could go back in time, I would never have made the video.

In this video you said: "This issue was caused by poor programming skills and a total lack of book keeping on the part of Mtgox", is it true that Mt Gox allowed you to see their books, some of their financial records?

Isn't it clear to anyone who is paying attention?  Mtgox lost everyones bitcoins and didn't notice until 99% of them were gone.

What did you know about their programming and bookkeeping and when did you know it?

I found out this week as well.

Was it before you invested the "... life changing amount of bitcoins stuck in Mtgox" or just before making this new video.

I have had about 24,000 BTC from Bitcoinica stuck in Mtgox for over a year.  Mark refused to turn over those funds to the liquidator.  Now any chance I had of getting those back are gone too.  That likely makes me one of the people who lost the most money out of everyone involved with this MtGox nightmare.

BTW: did you sign the petition to remove MT Gox CEO from the btc foundation.

I'm the one who directly asked Mark to step down.  

In what ways if any did you support the protesters at Mt Gox?  

I wasn't in Tokyo for most of the protest,  but the one day I was,  I tried to bring them hot tea.
https://twitter.com/rogerkver/status/436663439214120960  

With answers to those questions we could get a glimpse of that picture you are talking about.

The picture I am talking about is Bitcoin,  not my interactions with Mtgox.

[doctor just before giving you a shot] "... you may feel some pressure but it will be over shortly ..."


Roger, inasmuch as you may believe it was “purely as a favor” please consider the following.  at the time of the first video your 24K btc being held by Mt Gox (MG) was literally under arrest -- not just in their care, but completely alienated from your control.   As such, it stands to reason that your visit that day was primarily concerning those funds, and probably not to make another 24K btc deposit.   

That video represented two things:

1) it highlighted why inherent conflicts of interest should be disclosed,
2) the extent you were willing to compromise your integrity,

The reason for MG visit that day was about your 24K btc not to do a PSA for MG.  It is very likely that the full extent of your holding in MG was limited to only what you could not control.  You knew MG had problems, you probably would not have gone there if you were comfortable with how they cared for your money, likewise you knew the general public was not comfortable with how MG cared for their money, however you willingly choose to overtly allay those concerns with the MG endorsement video.  Had you disclosed the reason for being there in the first place it would have shown the viewer a more accurate picture of MG. 

I believe you thought the 1st video would help in your effort to wrangle your 24K btc from MG, in so doing you were willing to needlessly place the public's interest in harms way to get your money.  Turns out you sold your soul, and stabbed the public in the back for nothing, and with that reality came video #2 -- the 'I said liquidity not solvency' video.

The semantic denotative difference between liquidity and solvency is irrelevant if the order is: "don't pay".  For example, if your house is on fire, you are told 4 fire trucks are on their way.  Upon arrival of the 1st truck the driver says: “sorry but I’m not liquid and I’m insolvent”.  You're baffled and wonder 'wtf dude', but you see the 2nd truck arriving.  Its driver says: “sorry, I’m not liquid although I am solvent”.  As pissed as you are you know your house is more important than your 'pisstivity' besides the next truck has arrived. Driver 3 says: “sorry, although I am liquid I’m insolvent”, you are livid, totally frustrated and your house is 50% consumed, that's when the 4th truck arrives, it is both liquid and solvent, yet none of the drivers act to put out the fire ...

As you can see from the above analogy it doesn't matter what they say if the intent is not to put out your fire, furthermore you can also see how your reasonable expectations was exploited and abused when they arrived to do nothing, serving only to distract you from considering other home saving opportunities.

Had you known their intent you would not have called them in the first place.

Roger, your endorsement video was a distraction that facilitated the ongoing abuse of the public's trust by Mt Gox, the fact that you were in an adversarial relationship with MG at that time but choose not to disclose that material fact at any point gives me great pause. 

If the US Attorney's office sees your participation as 'aiding and abetting' MG's effort to defraud the public you will have a lot more 'splaning to do.

[doctor] ok, that might swell and perhaps bleed a little but you'll be ok.


personally, I don't think either video had enough of a market impact to do any material damage, so don't worry about it

Gotta bump this one!

[Phinnaeus Gage]

I'm sorry for your loss Roger. Losing 24000 BTC in a single day must be tough. Especially in the way it happened.

Isn't it clear to anyone who is paying attention?  Mtgox lost everyones bitcoins and didn't notice until 99% of them were gone.

Actually no that is not obvious to me at all. How do you lose everyone's bitcoins without noticing exactly?

I agree. I can swallow everything else, but this particular point is nonsense/not well thought out. Again, i give the benefit of doubt.

There is no way 99% of the coins would vanish slowly without them going "Oh wait, 30% of the coins in our database are NOT backed by real BTC we are holding in all our wallets combined"

Maybe if not at 30% at 50% they SURELY should have noticed SOMETHING.

It's a complete garbage theory which no judge in court would buy even for a second, even if Karpeles had the IQ of fruit.
He cannot be THAT stupid given he knows how to program and has been running some business before.

For the incompetence theory to hold, we would have to be looking at the stupidest people walking earth to run MtGox.

If not karpeles, SOMEONE there would have noticed....

It's pretty obvious to us now who moved them bitcoins and manipulated the market.