Gox Crisis Management Plan Confirmed Legitimate

[barbs]

I think the reduction of liabilities is why he's driven the price down to 130 on his exchange.

When they liquidate they can settle the number of BITCOINS against that 130 price in each account and tell people here you are funds are back ie 6btcx 130 gox price at shut down = 700ish usd.

No btcs again.

And he had he balls to blame bitcoin.

I hope he gets the shit beaten out of him for deception.

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[eldentyrell]

So you're telling me he reads this thing, sees the bolded 744,408 BTC and doesn't mention to the media that the big, glaring, scary figure in bold is wrong?  Hogwash.

He gave a three-word reply.  Not even a grammatically complete sentence.

So he didn't mention it.  He barely mentioned anything.

[theomar]

Karpeles has a lot of bitcoins. He is an early adopter and he was running one of the biggest exchanges. He must have more than 100k btc for himself in cold storage which was not related with mtgox. He is not an idiot he is told to pretend it. For sure a lot of bitcoins may have been lost but the problem here is the trust. If mtgox enable bitcoin withdrawals and the 550k costomers or a portion of them loose trust and try to sell their bitcoins then the price will go down down down... So the best strategy for him and for big investors is to claim that all btc had been lost if the majority eat that manipulation. The "leaked" document and the irc conversion is for testing reactions.

Pure manipulation...

[johnyj]

I still think that there is something much bigger going on, and they made up this story to cover what is really happening

[Gordon Bleu]

Facebook paid 1 Billion for Instagram, so 500'000'000 for Gox would be nice, with 1 Billion sure all could get their Coins back

[windjc]

From the interview I read between Mark and Jon Fisher, it seems apparently clear that Mark is operating from a state of denial.  All the speculation that there has been regarding Gox over the years, I had dismissed 99% of it as garbage. But in this case, I now fully expect much of it to found out as true.

I think Mark has committed gross criminal activities. And I think he will be indicted for them. I do not necessarily think that Mark is a criminal mastermind, instead I think his criminal actions, if he took them, were driven by hubris, panic, and denial of severity.

[GeniuSxBoY]

From the interview I read between Mark and Jon Fisher, it seems apparently clear that Mark is operating from a state of denial.  All the speculation that there has been regarding Gox over the years, I had dismissed 99% of it as garbage. But in this case, I now fully expect much of it to found out as true.

I think Mark has committed gross criminal activities. And I think he will be indicted for them. I do not necessarily think that Mark is a criminal mastermind, instead I think his criminal actions, if he took them, were driven by hubris, panic, and denial of severity.

Throwing around terms like "gross criminal activities" when you have no idea what's going on is like pointing your finger and yelling witch. It's all fun and games until some random person points to you.

[windjc]

From the interview I read between Mark and Jon Fisher, it seems apparently clear that Mark is operating from a state of denial.  All the speculation that there has been regarding Gox over the years, I had dismissed 99% of it as garbage. But in this case, I now fully expect much of it to found out as true.

I think Mark has committed gross criminal activities. And I think he will be indicted for them. I do not necessarily think that Mark is a criminal mastermind, instead I think his criminal actions, if he took them, were driven by hubris, panic, and denial of severity.

Throwing around terms like "gross criminal activities" when you have no idea what's going on is like pointing your finger and yelling witch. It's all fun and games until some random person points to you.

True. But I am speculating. If Mark took peoples deposits and allowed trading while knowingly being insolvent he broke the law in a very big way. If Mark in any way robbed Peter to pay Paul or traded from his exchange to another to try and raise capital, he broke the law.  Maybe he didn't. But I would not bet on it.

[Lloydie]

Yep.  Either Mark traded whilst insolvent or MTGox's cold storage will pop up somewhere.

[zhangweiwu]

This is a English learner's question: Why he said "Gox Crisis Management Plan Confirmed Legitimate" instead of "Gox Crisis Management Plan Confirmed genuine" or "Gox Crisis Management Plan Confirmed authentic"? Am I right that this is a mis-use of "Legitimate"?

[Lloydie]

This is a English learner's question: Why he said "Gox Crisis Management Plan Confirmed Legitimate" instead of "Gox Crisis Management Plan Confirmed genuine" or "Gox Crisis Management Plan Confirmed authentic"? Am I right that this is a mis-use of "Legitimate"?

I believe he used the word legitimate in the sense that it was not a fake document written by the releaser of the document, twobitidiot or some other person.

[bennybong]

If I had that many bitcoins under my control I would be checking the balance daily, just to remind me how rich I was.

Bullshit did he not know what was going on. Utter bullshit.

[zhangweiwu]

If I had that many bitcoins under my control I would be checking the balance daily, just to remind me how rich I was.

Bullshit did he not know what was going on. Utter bullshit.

All of the lost coins, around 770k. To give you an idea how rich you are, at the price of 600USD, Chuck Lorre (creator of "Big Ban Theory" telenovela)'s net worth is 600million by 2011, that equals to 1000k bitcoins. This is to remind you that there are a lot of people who can afford losing this much money - a lot can afford to bid MtGox but as I posted previously, only a few people has existing reputation in Bitcoin history whom if assigned CEO can save the business.