Karpeles Auctions off Bitcoins.com

[blatchcorn]

If he took the proceeds from the auction, put it in bitcoin and hodl'd for a year, then he could pay everyone back maybe

[BowieMan]

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

Yeah, shoulda coulda woulda... Won't happen I guess. Do you expect TradeFortress to pay his debts back? Or Ukyo?

[Wesley]

If he took the proceeds from the auction, put it in bitcoin and hodl'd for a year, then he could pay everyone back maybe

Bitcoin's price would need to grow 1,000 times in a year. And even if it were possible, it would only be in fiat terms. Someone who lost 1 BTC would only be awarded $600, not the $600,000 that they actually deserve.

[blatchcorn]

If he took the proceeds from the auction, put it in bitcoin and hodl'd for a year, then he could pay everyone back maybe

Bitcoin's price would need to grow 1,000 times in a year. And even if it were possible, it would only be in fiat terms. Someone who lost 1 BTC would only be awarded $600, not the $600,000 that they actually deserve.

Good point.  Does anyone know if Mt Gox have to reimburse creditors in terms of Bitcoin or fiat?

[Littleshop]

If he took the proceeds from the auction, put it in bitcoin and hodl'd for a year, then he could pay everyone back maybe

Bitcoin's price would need to grow 1,000 times in a year. And even if it were possible, it would only be in fiat terms. Someone who lost 1 BTC would only be awarded $600, not the $600,000 that they actually deserve.

Good point.  Does anyone know if Mt Gox have to reimburse creditors in terms of Bitcoin or fiat?

You forgot the third option:  Nothing. 


It technically should be fiat but will that really happen? 

[cryptopaths]

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

If he pays everyone back it will be because of legal pressure not because he freely chose to do so. So even if everyone does somehow get payed back he's still a fat fuck thieving scumbag.

[keithers]

Although it would be strictly a business decision if you were to be considering purchasing this domain, I think people should not support him and refuse to pay for something that would be profitable for him.

[DooMAD]

He'd probably make more money if he sealed himself in an airtight container and auctioned off his only oxygen supply.   

Heritage Auctions and Karpeles are hoping it will go for at least $750,000. In other words, they think Bitcoins.com is worth 1,250 bitcoins. But you can’t pay for it in Bitcoin.

That's actually quite a relief, wouldn't want any more of them to mysteriously vanish on his watch.

and any proceeds after Tibanne has been funded through the end of the year would go to Mt. Gox creditors.

Surely that's a bit backwards?  Should make his creditors whole first before lining his own grubby pockets even further. 

[keithers]

Looks like the auction has been halted due to court actions.   750k reserve price is pretty lofty..

[marryXmas]

Although it would be strictly a business decision if you were to be considering purchasing this domain, I think people should not support him and refuse to pay for something that would be profitable for him.

I think he has said that the funds are going to be used to pay back gox creditors.

[theymos]

Looks like the auction has been halted due to court actions.   750k reserve price is pretty lofty..

That sucks. The creditors would've probably gotten much more money from this auction than whatever will happen now. (Maybe it'll be given to CoinLab for next to nothing? CoinLab seems worse than even MtGox...)

Mark should think about selling it on an auction site outside of the US. (Maybe this isn't legally possible, though.)

[NCM]

He'd probably make more money if he sealed himself in an airtight container and auctioned off his only oxygen supply.   


That is the funniest thing I've heard all day!   

[cryptopaths]

Looks like the auction has been halted due to court actions.   750k reserve price is pretty lofty..

That sucks. The creditors would've probably gotten much more money from this auction than whatever will happen now. (Maybe it'll be given to CoinLab for next to nothing? CoinLab seems worse than even MtGox...)

Mark should think about selling it on an auction site outside of the US. (Maybe this isn't legally possible, though.)

If the creditors were to be given the money from this it would almost be an insult. 750k of about 600m is what like a 0.15%? so if you lost 100btc you would get 0.15 btc back..... It's something yes but I feel in some ways this is Mark just trolling people.

[Godye Scaro X9]

Looks like the auction has been halted due to court actions.   750k reserve price is pretty lofty..

That sucks. The creditors would've probably gotten much more money from this auction than whatever will happen now. (Maybe it'll be given to CoinLab for next to nothing? CoinLab seems worse than even MtGox...)

Mark should think about selling it on an auction site outside of the US. (Maybe this isn't legally possible, though.)

If the creditors were to be given the money from this it would almost be an insult. 750k of about 600m is what like a 0.15%? so if you lost 100btc you would get 0.15 btc back..... It's something yes but I feel in some ways this is Mark just trolling people.

Yup. It really puts into perspective how much the Bitcoin community lost due to the Mt. Gox disaster. $750,000 seems like a large amount of money, until you realize that it's only about 0.15% of the total BTC value that Mt. Gox owes to its customers.

[mike25]

Looks like the auction has been halted due to court actions.   750k reserve price is pretty lofty..

That sucks. The creditors would've probably gotten much more money from this auction than whatever will happen now. (Maybe it'll be given to CoinLab for next to nothing? CoinLab seems worse than even MtGox...)

Mark should think about selling it on an auction site outside of the US. (Maybe this isn't legally possible, though.)

If the creditors were to be given the money from this it would almost be an insult. 750k of about 600m is what like a 0.15%? so if you lost 100btc you would get 0.15 btc back..... It's something yes but I feel in some ways this is Mark just trolling people.

Yup. It really puts into perspective how much the Bitcoin community lost due to the Mt. Gox disaster. $750,000 seems like a large amount of money, until you realize that it's only about 0.15% of the total BTC value that Mt. Gox owes to its customers.

just got an email from Heritage Auctions stating that the domain name Bitcoins.com has been withdrawn from auction.

[lihuajkl]

If he took the proceeds from the auction, put it in bitcoin and hodl'd for a year, then he could pay everyone back maybe

Bitcoin's price would need to grow 1,000 times in a year. And even if it were possible, it would only be in fiat terms. Someone who lost 1 BTC would only be awarded $600, not the $600,000 that they actually deserve.

Good point.  Does anyone know if Mt Gox have to reimburse creditors in terms of Bitcoin or fiat?

Does it matter? If the creditors could get back 10% of that they lost,they would be happy. No matter they pay you BTC or fiat!

[cryptopaths]

If he took the proceeds from the auction, put it in bitcoin and hodl'd for a year, then he could pay everyone back maybe

Bitcoin's price would need to grow 1,000 times in a year. And even if it were possible, it would only be in fiat terms. Someone who lost 1 BTC would only be awarded $600, not the $600,000 that they actually deserve.

Good point.  Does anyone know if Mt Gox have to reimburse creditors in terms of Bitcoin or fiat?

Does it matter? If the creditors could get back 10% of that they lost,they would be happy. No matter they pay you BTC or fiat!

I'm sure a lot of people wouldn't be happy with %10, seeing as how it's almost certain that Mark fat fuck is sitting on %100 of the bitcoins.

[Mt. Gox]

Although it would be strictly a business decision if you were to be considering purchasing this domain, I think people should not support him and refuse to pay for something that would be profitable for him.

Umm... I thought the proceeds of the auction would be going to the victims of Mt. Gox. It would be awesome if someone like Bill Gates bought the domain for $500 million. Then everyone who lost money in Mt. Gox would have all their BTC back.

[CrackedLogic]

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.

[CrackedLogic]

If he took the proceeds from the auction, put it in bitcoin and hodl'd for a year, then he could pay everyone back maybe

He would hodl,  he just wouldn't settle his debt.