Karpeles Auctions off Bitcoins.com

[omgbossis21]

Pay back his creditors?  Filing bankruptcy?  Isn't that the point of filing, so you don't have to pay them back 

[cryptopaths]

His reserve is $750,000.

If he gets his money, do you think maybe he'll pay us back?(Probably not, but worth the hope right? )



http://domains.ha.com/itm/bitcoinscom/a/1120-49.s

An interesting article by Forbes: http://www.forbes.com/sites/kashmirhill/2014/07/08/mt-goxs-mark-karpeles-is-auctioning-off-bitcoins-com-opening-bid-185000/

An something by coinspeaker: http://www.coinspeaker.com/tag/mark-karpeles/

"Mt. Gox is planning to sell bitcoins.com domain at the upcoming auction and give the revenues for the people affected by the exchange bankruptcy."

We'll see^

Let's do a quick calculation how many Frappucinos you can buy with that kind of money... He could have 3 Frappucinos per day and that for a whole 91 years!

That was a pretty random calculation.

I ran the calculation and those numbers are actually wrong. For purpose of this calculation let's say Mark is getting the biggest size Venti and the most expensive Frap is about $5 for a venti so let's use that price. 3x5=15x365=$5475 in one year.

Now your calculation that $750k could only buy 91 years of frappucinos at 3 a day so lets run that number. $5475x91= $498225

You still have roughly $250k left over even if you buy the most expensive frappucino for 91 years.

$750,000/$5475= 136.986 years of frappucinos

[smoothie]

His reserve is $750,000.

If he gets his money, do you think maybe he'll pay us back?(Probably not, but worth the hope right? )



http://domains.ha.com/itm/bitcoinscom/a/1120-49.s

An interesting article by Forbes: http://www.forbes.com/sites/kashmirhill/2014/07/08/mt-goxs-mark-karpeles-is-auctioning-off-bitcoins-com-opening-bid-185000/

An something by coinspeaker: http://www.coinspeaker.com/tag/mark-karpeles/

"Mt. Gox is planning to sell bitcoins.com domain at the upcoming auction and give the revenues for the people affected by the exchange bankruptcy."

We'll see^

Let's do a quick calculation how many Frappucinos you can buy with that kind of money... He could have 3 Frappucinos per day and that for a whole 91 years!

That was a pretty random calculation.

I ran the calculation and those numbers are actually wrong. For purpose of this calculation let's say Mark is getting the biggest size Venti and the most expensive Frap is about $5 for a venti so let's use that price. 3x5=15x365=$5475 in one year.

Now your calculation that $750k could only buy 91 years of frappucinos at 3 a day so lets run that number. $5475x91= $498225

You still have roughly $250k left over even if you buy the most expensive frappucino for 91 years.

$750,000/$5475= 136.986 years of frappucinos

Assuming prices stay the same in dollar terms. lol likely will not be the case as the fed prints to infinity.

[bryant.coleman]

$750,000 is worth slightly over 1,000 BTC. Or about 0.15% of the total amount of BTC that Mt. Gox owes. There are individual people who lost more than this.

Hmm... the top five users of Mt Gox (> BTC10,000) had a total of BTC130,809 deposited between them at the time of robbery. The average holding was more than BTC26,000.    

That said, 0.15% of that figure (BTC26,000) is still a very significant amount of money (BTC39).

[BiTJack]

The US Court Halted that. http://www.coindesk.com/auction-bitcoins-com-domain-halted-us-court/

[DooMAD]

The US Court Halted that. http://www.coindesk.com/auction-bitcoins-com-domain-halted-us-court/

Good.  I'd say that's the best course of action right now.  I'd place more faith in the court's ability to arrive at a sensible decision than Karpeles.  He wanted the chapter 15 bankruptcy protection and he can suffer the consequences of that choice, especially if that means not trying to sell bits off on the side to make a quick buck.

[robhimself]

How could he think this would be allowed by the creditors?

[Swordsoffreedom]

How could he think this would be allowed by the creditors?

Karpeles probably doesn't have much of an attachment to the users of his exchange
One of those people who are like oh people have a lawsuit that's fine I'll just carry on with business as usual.

[JypsiCreme]

Mark Karpeles deserves a swift kick in the balls.

[Harley997]

He does deserve a kick in the balls, but if this domain does sell I can guarantee you that you still wont even see 0.00001 BTC in your account, the money has gone and you will never get it back, if anyone is holding hope just drop it Mtgox are only dragging it out saying they are trying to recover funds etc but we all know that its gone.

[ph111]

Claw hammer to the eyeball 

[Gleb Gamow]

Claw hammer to the eyeball 

Pitchfork to the pinkie toe. 

[jjc326]

No of course he wouldn't pay anyone back if the domain sold.  If he was selling the domain name to pay people back he would have done it through the court and not just posted about it on Twitter!

[ponzigo]

Hes not gonna gives us our shit.

[QuestionAuthority]

Honestly if he does pay us back then I would be impressed and my perspective of him would change.

Mine would change too. I would go from thinking he's a conman to thinking he's insane. There is absolutely no upside for him to do that at this point.

[Ron~Popeil]

The US Court Halted that. http://www.coindesk.com/auction-bitcoins-com-domain-halted-us-court/

Good.  I'd say that's the best course of action right now.  I'd place more faith in the court's ability to arrive at a sensible decision than Karpeles.  He wanted the chapter 15 bankruptcy protection and he can suffer the consequences of that choice, especially if that means not trying to sell bits off on the side to make a quick buck.

Agreed. When I first heard of this I hoped he would repay some of the money if he did get a good price. I think his advisors knew and would have told him this would happen. This was probably just an image rehab move. 

[CrackedLogic]

Claw hammer to the eyeball 

Pitchfork to the pinkie toe. 

Stub his toe on a table leg?

[Gleb Gamow]

So, who one the auction?

[darkangel11]

I hope we will be able to pay in hamburgers and pizza and perhaps chicken wings with a milkshake.

I really hope he use the money for compensating people, so many people lost so much money.

Don't forget a frappuccino!  


I think he's being watched carefully. If he sold the domain and embezzled the money again, he'd go back to jail.
If he really wanted to escape he had a chance right after the bankruptcy, when he was still free and had money in his pocket. Instead he stayed in Japan, bought a new apartment and attended court meetings.

What about the remaining gox coins and BCC that was added on top of it?

[Pettuh4]

I hope we will be able to pay in hamburgers and pizza and perhaps chicken wings with a milkshake.

I really hope he use the money for compensating people, so many people lost so much money.

Don't forget a frappuccino!  


I think he's being watched carefully. If he sold the domain and embezzled the money again, he'd go back to jail.
If he really wanted to escape he had a chance right after the bankruptcy, when he was still free and had money in his pocket. Instead he stayed in Japan, bought a new apartment and attended court meetings.

What about the remaining gox coins and BCC that was added on top of it?

Bad debt i guess, he has got no shit to offer again and we are all waiting for  the proceedings of the court and what the outcome of this case may gut be. I feel pity for him though.