Mark K "The coins are not lost, just temporarily unavailable" - chat log

[Rawted]

Thoughts?

http://www.foxbusiness.com/markets/2014/02/25/mt-gox-ceo-says-on-internet-chat-hasnt-given-up/

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[pungopete468]

It means the coins still exist; somewhere... He just doesn't own the private key for them...

[Rawted]

It means the coins still exist; somewhere... He just doesn't own the private key for them...

Then why say temporarily? That indicates to me that they weren't stolen.

[Lloydie]

That's right: bitcoin reserves are probably still out in the wild, though likely insufficient to cover 750k in coin liabilities.

Karpeles will have to cough up if he wants to avoid jail time.

[pungopete468]

It means the coins still exist; somewhere... He just doesn't own the private key for them...

Then why say temporarily? That indicates to me that they weren't stolen.

When he said temporary it means, "We just haven't been able to buy them back yet..."

[Rawted]

It means the coins still exist; somewhere... He just doesn't own the private key for them...

Then why say temporarily? That indicates to me that they weren't stolen.

When he said temporary it means, "We just haven't been able to buy them back yet..."

Lol, you're reading more into it than I am.

[Lloydie]

It means the coins still exist; somewhere... He just doesn't own the private key for them...

Then why say temporarily? That indicates to me that they weren't stolen.

Cold storage coins cannot be stolen for it would imply incredible stupidity amounting to gross negligence and outright fraud.  I speculate it has been moved to a "safe place".  

[Ibian]

The guy is a fraud. Don't believe a word he says. Even if he told the truth up there, he didn't specify if he was talking about the money on gox or his own personal money. Read closer.

[pungopete468]

He claims not to know how many coins he lost out of his own personal wallet...

How can that be? Let me guess... He discovered a bug in subtraction...

[T.Stuart]

It means the coins still exist; somewhere... He just doesn't own the private key for them...

Then why say temporarily? That indicates to me that they weren't stolen

It's the "not just yet" that bothers me.

[smoothie]

LOL @ unavailable bitcoins not lost.

HAHAHAHAHAHA!

[gog1]

Gox should file for bankruptcy, let trustee and professionals handle this matter.  This is in the best interest of everyone.

[traderCJ]

I read it differently - MK is referring to his personal stash of coins, not the exchange's.

[BitcoinAshley]

In other words:

"If you like your Bitcoins, you can keep them"
-Mark Karpeles

[Lloydie]

Gox should file for bankruptcy, let trustee and professionals handle this matter.  This is in the best interest of everyone.

And perhaps more critically, avoid jail time for senior management.

[Notanon]

I think the subpoena by the US Justice Department might actually be responsible for why the coins were "unavailable". Also might explain why he couldn't say a thing about what was going on and why he was consulting a lawyer this morning.

[Beta-coiner1]

Hahaha,The Japanese authorities are looking into it.We'll see how this goes I think many will obviously be looking at the network very closely and on stamp and other exchanges for big sells.

Many of us knew they couldn't stay relevant while halting withdrawals on money and bitcoins as well...it doesn't give confidence.I am actually now wondering what happens to their IP considering I think someone mentioned they bought the bitcoin nick.

[CompNsci]

I read it differently - MK is referring to his personal stash of coins, not the exchange's.

I think this is quite likely. His comment was in response to the question: "How much did you lose yourself?".

His answers about the document as a whole were vague, that it was legit "more or less".

[Lloydie]

Just quoting Antonopoulos from here: http://antonopoulos.com/2014/02/25/

Based on this blog, it appears their “cold storage” was not in fact “cold” – which is either a stunning misrepresentation of their security or an outright lie. “Cold storage” does not “leak”. The idea that the funds were stolen, unnoticed, from cold storage, due to Transaction Malleability, strains the credulity of even the most gullible observers.

[romerun]

maybe they lost the passwd to decrypt the private keys and bruteforcing it on aws cloud