Karpeles back to living large in one of the most expensive apartments in Tokyo

[jonald_fyookball]

I was wondering how he could (legally) afford hotels and a bodyguard, so to see him in such an expensive place is outrageous.
Mark works for the USA Feds == One possible twist in the story.

simple... sell a few of the hundreds of thousands of bitcoins you have.

[InwardContour]

This is truly disgusting.

There is no way he should be able to afford such a lavish lifestyle when he lost so much of other people's money. It isn't like he used his expertise to try to protect it. At the very least his incompetence caused his customers to lose their bitcoin, assuming that he did not steal it. 

[Bit_Happy]

This is truly disgusting.
....

An unprotected person like him would be dead by now, so I am seriously claiming to believe he works for a Gov't agency.

[rext]

Wonder how many people got screwed over this.

[Swordsoffreedom]

Wonder how many people got screwed over this.

Not quite sure myself but there is a suit going so it probably measures in a few thousand users at least.
With significant balances.

[ajareselde]

I wonder what his next "business" venture will be 

yeah , sure would avoid it at all costs.
instead of being in prison, hes living like a rock star.
we want to see some sepuki on him.

[solomania9]

I wouldn't be surprised if he starts making lavish posts like this one on Bitcoin Megaphone:

http://bitcoinmegaphone.com/1Kqt3WNKaaVXsdWBZPgzuF4mP95uXjnRRe/

[Impros88]

now that we know where the pig is, we could go to carry him our greetings... I lost a lot of money due to him and I would like to meet him. in person. I lost my j9b and invested every thing in bitcoin hoping to make some money... now I lost almost all due to this fucking pig... I want to kill him slowly and painfully, like in a oven, the good place where fat pigs should be.

[Harley997]

This is truly disgusting.
....

An unprotected person like him would be dead by now, so I am seriously claiming to believe he works for a Gov't agency.

I doubt that many people are willing to give up their freedom for potentially the rest of their life just because he may have stolen their money.

I am surprised that he is able to spend this kind of money without attracting attention from the police when so much has gone missing from his business

[Bit_Happy]

This is truly disgusting.
....

An unprotected person like him would be dead by now, so I am seriously claiming to believe he works for a Gov't agency.

I doubt that many people are willing to give up their freedom for potentially the rest of their life just because he may have stolen their money.

I am surprised that he is able to spend this kind of money without attracting attention from the police when so much has gone missing from his business

...without attracting attention from the police...
We have no way to know for certain, but it is possible that someone influential is telling the police to avoid investigation of Mr. Karpeles.

[pungopete468]

I don't see how he'll be able to justify such an exorbitant amount of rent as being a "necessary expense" in his bankruptcy proceedings...

[Bit_Happy]

I don't see how he'll be able to justify such an exorbitant amount of rent as being a "necessary expense" in his bankruptcy proceedings...

It is not a personal bankruptcy, just the company.
Mark has all his "legit earnings" from those long days and nights as CEO.*
*Except for what the USA Gov't grabbed from his American-based personal account over a year ago.

[rext]

He probably figured, if i am going to jail, i might as well live the high life now.

[nwfella]

I don't see how he'll be able to justify such an exorbitant amount of rent as being a "necessary expense" in his bankruptcy proceedings...

Of course he will be able to justify it as a "necessary expense".  Have you seen pictures of that toilet?  Have you seen his fat ass?  Only luxury hotel's can accommodate such a substantial derrier!

[pungopete468]

I don't see how he'll be able to justify such an exorbitant amount of rent as being a "necessary expense" in his bankruptcy proceedings...

It is not a personal bankruptcy, just the company.
Mark has all his "legit earnings" from those long days and nights as CEO.*
*Except for what the USA Gov't grabbed from his American-based personal account over a year ago.

You can't buy or start a business without taking on personal guarantees unless you use self-financing and pay everything 100% in full. If he isn't filing bankruptcy individually then he must be planning a business restructure or repayment plan... Either way, his "legit earnings" are no different from any of the other company assets under control of the bankruptcy court...

[zeetubes]

Coming soon: many pictures from many different angles of Karpeles taking a dump

Given how full of shit he is, that could be a lot of photos.

[DooMAD]

Wonder how many people got screwed over this.

What I wonder is how many people are in the same position now where it could happen again.  Personally, I try not to leave more that $10 USD worth of Bitcoin on exchanges at any given time.  But I often wonder how many people, even after the gox fiasco and all this anger over Karpeles living the high life, how many still keep hundreds or even thousands on an exchange instead of in cold storage where it should be.  Satoshi envisaged Bitcoin as peer to peer money, so the fact that so many people rely on exchanges means we're generally doing this all wrong.

I'm not making any excuses for they guy, but as disgusting a creature as Karpeles is, it never would have happened if people were using Bitcoin as intended.

[QuestionAuthority]

Wonder how many people got screwed over this.

What I wonder is how many people are in the same position now where it could happen again.  Personally, I try not to leave more that $10 USD worth of Bitcoin on exchanges at any given time.  But I often wonder how many people, even after the gox fiasco and all this anger over Karpeles living the high life, how many still keep hundreds or even thousands on an exchange instead of in cold storage where it should be.  Satoshi envisaged Bitcoin as peer to peer money, so the fact that so many people rely on exchanges means we're generally doing this all wrong.

I'm not making any excuses for they guy, but as disgusting a creature as Karpeles is, it never would have happened if people were using Bitcoin as intended.

You're forgetting that Bitcoins best use is as a speculative financial instrument. The big Bitcoin economy would be so very much smaller without day traders. It's impossible to buy and sell at an exchange without having something in your account. I have had thousands at an exchange before. I transfer it out only when I know I'm not trading for a while.

[DooMAD]

Wonder how many people got screwed over this.

What I wonder is how many people are in the same position now where it could happen again.  Personally, I try not to leave more that $10 USD worth of Bitcoin on exchanges at any given time.  But I often wonder how many people, even after the gox fiasco and all this anger over Karpeles living the high life, how many still keep hundreds or even thousands on an exchange instead of in cold storage where it should be.  Satoshi envisaged Bitcoin as peer to peer money, so the fact that so many people rely on exchanges means we're generally doing this all wrong.

I'm not making any excuses for they guy, but as disgusting a creature as Karpeles is, it never would have happened if people were using Bitcoin as intended.

You're forgetting that Bitcoins best use is as a speculative financial instrument. The big Bitcoin economy would be so very much smaller without day traders. It's impossible to buy and sell at an exchange without having something in your account. I have had thousands at an exchange before. I transfer it out only when I know I'm not trading for a while.

When you say "best use", perhaps what you actually mean is "most profitable use" (or at least "best use for you"  ).  Whether speculation is all good news for Bitcoin or not is probably open for debate, heh.  I'd say there's a balance to be struck there and maybe it's not quite in proportion yet.  Perhaps it would mean a smaller economy with less speculators, but by the same token it might also become less volatile and the headlines wouldn't be quite as sensationalist.  We might even see more use as a currency.  Swings and roundabouts I guess.  Many would argue that its best use is to take power away from banks and governments and as a test case for debt-free money creation, as opposed to fiat, where nearly all the money in the economy is comprised of a debt that isn't possible to pay back without removing nearly all the money from the economy.   But then again, Bitcoin is proving to be all things to all people.

[QuestionAuthority]

Wonder how many people got screwed over this.

What I wonder is how many people are in the same position now where it could happen again.  Personally, I try not to leave more that $10 USD worth of Bitcoin on exchanges at any given time.  But I often wonder how many people, even after the gox fiasco and all this anger over Karpeles living the high life, how many still keep hundreds or even thousands on an exchange instead of in cold storage where it should be.  Satoshi envisaged Bitcoin as peer to peer money, so the fact that so many people rely on exchanges means we're generally doing this all wrong.

I'm not making any excuses for they guy, but as disgusting a creature as Karpeles is, it never would have happened if people were using Bitcoin as intended.

You're forgetting that Bitcoins best use is as a speculative financial instrument. The big Bitcoin economy would be so very much smaller without day traders. It's impossible to buy and sell at an exchange without having something in your account. I have had thousands at an exchange before. I transfer it out only when I know I'm not trading for a while.

When you say "best use", perhaps what you actually mean is "most profitable use" (or at least "best use for you"   ).  Whether speculation is all good news for Bitcoin or not is probably open for debate, heh.  I'd say there's a balance to be struck there and maybe it's not quite in proportion yet.  Perhaps it would mean a smaller economy with less speculators, but by the same token it might also become less volatile and the headlines wouldn't be quite as sensationalist.  We might even see more use as a currency.  Swings and roundabouts I guess.  Many would argue that its best use is to take power away from banks and governments and as a test case for debt-free money creation, as opposed to fiat, where nearly all the money in the economy is comprised of a debt that isn't possible to pay back without removing nearly all the money from the economy.   But then again, Bitcoin is proving to be all things to all people.

I think of all possible uses speculation is probably the best and not just the most profitable. Making everyday purchases with Bitcoin isn't really quite "there" yet. Even exchanging fiat for Bitcoin to buy something you could have just bought with fiat leaves something to be desired. I doubt (but I don't know for a fact) that buying drugs, guns, illegal porn and other niceties with Bitcoin is a very big part of the market. Although, that at least makes sense as far as the hassle of chasing down Bitcoins to make a purchase. Micro payments online? Meh, how many times have you ever wanted to give someone money online because you think they're swell? Besides, how big a market could their be in micro payments anyway.

Bitcoin on the other hand is perfect for speculation. Even the daily potential is better than any other instrument that I can think of and the long term is phenomenal. I personally have made better than 100% increase on my investment in a single day. That beats saving a few bucks to wire money around the world.