Bitcoin Forum
January 22, 2018, 09:04:23 PM *
News: Latest stable version of Bitcoin Core: 0.15.1  [Torrent].
 
   Home   Help Search Donate Login Register  
Pages: « 1 2 [3] 4 5 6 »  All
  Print  
Author Topic: MTGOX Statement *NEW MAR 3RD*  (Read 8936 times)
brokenchair
Member
**
Offline Offline

Activity: 109


View Profile
March 03, 2014, 11:02:42 AM
 #41

(1) As of now, the liabilities of MtGox Co., Ltd exceed its assets and its financial situation is as follows:

Total amount of assets    3,841,866,163
Total amount of current liabilities    6,501,119,371

In fantasy land gox pays everyone a little more than half of their coins owed and calls it a day Smiley
 



Advertised sites are not endorsed by the Bitcoin Forum. They may be unsafe, untrustworthy, or illegal in your jurisdiction. Advertise here.
grifferz
Full Member
***
Offline Offline

Activity: 154


View Profile
March 03, 2014, 11:14:49 AM
 #42

Given he apparently left France in a hurry, moving to Japan practically over night after his employers accused him of computer fraud, I think there is valid reason to suspect that it's more than incompetence, and that illegal activity on his part here is likely.
That's interesting. Do you have any reference for this, even if it's just a reference to a rumour?
Ah, I've seen http://gawker.com/does-mt-goxs-ceo-have-a-secret-history-of-online-payme-1534752110 now - is that the one?
runam0k
Legendary
*
Offline Offline

Activity: 1008


Touchdown


View Profile
March 03, 2014, 11:24:01 AM
 #43

He's been handling MTGOX for years now with no major problems and now because he has a small issue it's reached a point where he can't hide it anymore everybody wants to crucify him.
FTFY.

Or were you being sarcastic?
spin
Sr. Member
****
Offline Offline

Activity: 360


View Profile
March 03, 2014, 11:37:51 AM
 #44

They still need someone to write things CLEARLY.

My thoughts:
Apology first.  (though this may be a cultural thing)
Liabilities: provide breakdown?  At what price? Currency? Breakdown of liabilities by currency?
What is the increase?  Who is the expert(s)?
Comment On the same day seems to refer to an earlier statement but it is unclear what it refers to.  What happened on that same day?  The investigation?  All that seems unclear is that they do not seem to be able to tell when they found out about the gap (trying to avoid jail time?)

Clear as mud...


If you liked this post buy me a beer.  Beers are quite cheap where I live!
194YjsiwmGm3hcbPcJWWyzRAS9CQLX1fJL
techstorm3
Newbie
*
Offline Offline

Activity: 26


View Profile
March 03, 2014, 11:44:25 AM
 #45

No one could be that incompetent, losing 800K btc, if it looks like fraud, smells like fraud and sounds like fraud, guess what!!

 Wink
Mowcore
Hero Member
*****
Offline Offline

Activity: 592



View Profile
March 03, 2014, 11:48:05 AM
 #46

Given he apparently left France in a hurry, moving to Japan practically over night after his employers accused him of computer fraud, I think there is valid reason to suspect that it's more than incompetence, and that illegal activity on his part here is likely.
That's interesting. Do you have any reference for this, even if it's just a reference to a rumour?
Ah, I've seen http://gawker.com/does-mt-goxs-ceo-have-a-secret-history-of-online-payme-1534752110 now - is that the one?

Fuck Gawker comments..

Humble Weekly Bundle.Pay What You Want. Redeem on Steam. Support charity. Pay with BTCitcoin now!--> Paypal Sad
loewen.brad
Full Member
***
Offline Offline

Activity: 196


View Profile
March 03, 2014, 12:02:00 PM
 #47

I'm still gonna have to go with the incompetence argument. After all... Mt. Gox WAS originally created as a website for people to trade Magic: The Gathering cards with each other. Not EXACTLY something that takes a masters degree in business and economics to run properly, which is precisely what someone who heads a multi-million dollar financial institution should have.

BTC Donation address: 1C9kFrgD4iHRnH7p86HaAQ5oSaEuzqmjf8
XIV Donation address: XErCR9BXh2oVXBy2Yh48qcRaX9tdDCRH5J
BitcoinObmen
Jr. Member
*
Offline Offline

Activity: 36


View Profile
March 03, 2014, 12:57:16 PM
 #48

There are just 2 realististic possibilities:

1. Mark Karpeles stole it
2. Somebody else from MtGox stole it.

The whole "there was a hacker, who used a bug to steal the Money"-Argument is just stupid.


+1
Loozik
Sr. Member
****
Offline Offline

Activity: 378


Born to chew bubble gum and kick ass


View Profile
March 03, 2014, 12:59:43 PM
 #49

I'm still gonna have to go with the incompetence argument.

The incompetence argument (nice, naive fatty guy, probably incompetent) was created with fabricated ''leaks'', released on the right moments directed to the right people (the clueless ones):
- IRC chat discussions
- recovery plan
- business plan
- etc

The incompetence argument was so frequently used that it got imprinted in our brains. The incompetence served only as distraction for us so that we would never see that the grand theft of $ 0.5 billion was happening.
Zeeks
Full Member
***
Offline Offline

Activity: 155


View Profile
March 03, 2014, 01:01:06 PM
 #50

Anyone who even starts to believe any of that for even a moment ought to drop by service discussion or r/bitcoin and see how people are uncovering hundreds of thousands of bitcoins still sitting untouched in MtGOX wallets. As if somehow no one would notice.
donking
Jr. Member
*
Offline Offline

Activity: 38



View Profile
March 03, 2014, 01:17:02 PM
 #51

I can not see any way justice being served and Mark Gox coming out of this ordeal with any coins to his name.
davida
Sr. Member
****
Offline Offline

Activity: 269


View Profile
March 03, 2014, 01:22:50 PM
 #52

So, for less than 30 million usd technically a new owner could step in and restore all mtgox balances and continue business as normal?  (i say normal, obviously would have a lot of trust to regain)   

Surely in the long term some smart investors would be all over that???

BitOnyx
Member
**
Offline Offline

Activity: 112

Cryptocurrencies Exchange


View Profile WWW
March 03, 2014, 01:33:51 PM
 #53

Interesting is this might be one of first cases where bitcoins would be seriously taken as assets. I don't like some of changes force in all of this statements but i bet they get good enough lawyers for that. Ironically there wouldn't be so many problems if maybe they bought themselves insurance or store data off-line. Or maybe just limit on bitcoins stored on people accounts. At some point they were not only exchange but also bank in some way.

ab8989
Full Member
***
Offline Offline

Activity: 187


View Profile
March 03, 2014, 01:50:19 PM
 #54

Quote
(1) As of now, the liabilities of MtGox Co., Ltd exceed its assets and its financial situation is as follows:
Total amount of assets    3,841,866,163
Total amount of current liabilities    6,501,119,371

This statement looks horribly unprofessional. Why is there no indication of which currency is used? I assume those are yen, but I should not have to guess whether they are yen or not!!!

If we convert the numbers to USD by approximately dividing by 100 we get that the assets are 38MUSD and liabilities 65MUSD.

The numbers from crisis memo were fiat assets 32MUSD and liabilities 55MUSD. We are in the same ballpark so that gives some indication that assumption the statement was in yen might have been correct.

However I took the numbers from the crisis draft without BTC. That indicates the effect of the lost 750kBTC is not included at all! Using USD500/BTC gives an additional liability of 375MUSD or 37,500,000,000 yen which is not included in the statement today!!!

I am out of ideas for any alternative explanation how these numbers could make any sense at all in some other way.
exocytosis
Sr. Member
****
Offline Offline

Activity: 476


View Profile
March 03, 2014, 01:54:57 PM
 #55

Given he apparently left France in a hurry, moving to Japan practically over night after his employers accused him of computer fraud, I think there is valid reason to suspect that it's more than incompetence, and that illegal activity on his part here is likely.

Word.
exocytosis
Sr. Member
****
Offline Offline

Activity: 476


View Profile
March 03, 2014, 01:59:46 PM
 #56

"These are now investigated by an expert"
I just hope that this single "expert" has any idea what bitcoin is.


The expert is called Mark Karpeles.
electronistul
Full Member
***
Offline Offline

Activity: 160


View Profile
March 03, 2014, 02:28:09 PM
 #57

I'm fascinated how nobody reports back on this forum (or I'm idiotic enough to not have found the relevant thread around here yet) on telephone inquiries.
I mean, ffs, they did list a couple of telephone numbers on their "press release", one of them was for English speaking customers, some thousand people must have already called over there - did they say anything at all ?!
I would probably pop only the relevant Qs at hand:
- "Will MtGox reimburse anything ?"
- "Will I get back a fraction of the fiat/BTC I had on my account at the time you wiped the site off the internet ?"
- "Was Karpeles buying some ~6k coins on Stamp earlier today so he could free his family from wrongdoers ?"
- "Are you (the telephone operator) gay ?"
- "Does God exist?"
... and some others I can swiftly think of ...  Undecided
fryarminer
Hero Member
*****
Offline Offline

Activity: 658


View Profile
March 03, 2014, 02:32:37 PM
 #58

I'm fascinated how nobody reports back on this forum (or I'm idiotic enough to not have found the relevant thread around here yet) on telephone inquiries.
I mean, ffs, they did list a couple of telephone numbers on their "press release", one of them was for English speaking customers, some thousand people must have already called over there - did they say anything at all ?!
I would probably pop only the relevant Qs at hand:
- "Will MtGox reimburse anything ?"
- "Will I get back a fraction of the fiat/BTC I had on my account at the time you wiped the site off the internet ?"
- "Was Karpeles buying some ~6k coins on Stamp earlier today so he could free his family from wrongdoers ?"
- "Are you (the telephone operator) gay ?"
- "Does God exist?"
... and some others I can swiftly think of ...  Undecided

Someone did report last evening on a different thread. All they did was refer him to the website.
Rampion
Legendary
*
Offline Offline

Activity: 1120


View Profile
March 03, 2014, 02:41:40 PM
 #59

I'm fascinated how nobody reports back on this forum (or I'm idiotic enough to not have found the relevant thread around here yet) on telephone inquiries.
I mean, ffs, they did list a couple of telephone numbers on their "press release", one of them was for English speaking customers, some thousand people must have already called over there - did they say anything at all ?!
I would probably pop only the relevant Qs at hand:
- "Will MtGox reimburse anything ?"
- "Will I get back a fraction of the fiat/BTC I had on my account at the time you wiped the site off the internet ?"
- "Was Karpeles buying some ~6k coins on Stamp earlier today so he could free his family from wrongdoers ?"
- "Are you (the telephone operator) gay ?"
- "Does God exist?"
... and some others I can swiftly think of ...  Undecided

Here a link to a Gox call center conversation: http://www.youtube.com/watch?v=6HJt-MpoTP4

frito
Full Member
***
Offline Offline

Activity: 127


View Profile
March 03, 2014, 03:00:49 PM
 #60

I'm fascinated how nobody reports back on this forum (or I'm idiotic enough to not have found the relevant thread around here yet) on telephone inquiries.
I mean, ffs, they did list a couple of telephone numbers on their "press release", one of them was for English speaking customers, some thousand people must have already called over there - did they say anything at all ?!
I would probably pop only the relevant Qs at hand:
- "Will MtGox reimburse anything ?"
- "Will I get back a fraction of the fiat/BTC I had on my account at the time you wiped the site off the internet ?"
- "Was Karpeles buying some ~6k coins on Stamp earlier today so he could free his family from wrongdoers ?"
- "Are you (the telephone operator) gay ?"
- "Does God exist?"
... and some others I can swiftly think of ...  Undecided

Here a link to a Gox call center conversation: http://www.youtube.com/watch?v=6HJt-MpoTP4
sounds like karpeleses nurse moonlighting
Pages: « 1 2 [3] 4 5 6 »  All
  Print  
 
Jump to:  

Sponsored by , a Bitcoin-accepting VPN.
Powered by MySQL Powered by PHP Powered by SMF 1.1.19 | SMF © 2006-2009, Simple Machines Valid XHTML 1.0! Valid CSS!