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Author Topic: Mt Gox CEO Mark Karpeles Implicated in Silk Road Trial  (Read 4490 times)
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January 17, 2015, 05:04:07 PM
 #41

If this turns out to be real I think it will be a bad hit for bitcoin enviroment
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January 17, 2015, 05:15:46 PM
 #42

If this turns out to be real I think it will be a bad hit for bitcoin enviroment

Ahem, Karpeles behind bars can't be bad for bitcoin Grin.

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January 17, 2015, 07:23:52 PM
 #43

If this turns out to be real I think it will be a bad hit for bitcoin enviroment

Ahem, Karpeles behind bars can't be bad for bitcoin Grin.

Well, I want the Karp deep fried...but my other early adopter friends do think it will DESTROY btc is he's implicated....or even associated with SR and DPR.

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January 17, 2015, 07:52:00 PM
 #44

Well, I want the Karp deep fried...but my other early adopter friends do think it will DESTROY btc is he's implicated....or even associated with SR and DPR.

At one point there was some uncertainty on how much of bitcoin's value was due to SR. You see, SR fell and all the price did was take a dip to $85, that was quickly resolved. Today the bitcoin economy is much larger, I bet Karpeles being busted won't make a dent in the price.

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January 17, 2015, 07:58:26 PM
 #45

I bet Karpeles being busted won't make a dent in the price.

Apart from the risk that wallets with hundred of thousands of BTC are seized with him and auctioned and/or dumped.

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January 17, 2015, 08:55:05 PM
 #46

Interesting post at the bottom of the original article mentioned in the first post:



And who was and still is controlling Karpeles? You only get one guess who is in possession of those stolen coins now and it ain't Karpeles. And the purpose of gaining control of those coins was played out in front of our eys over the past 3 days. And being the true parasites they are they let the victim live for a while longer to obfuscate their trail.


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    Steve Goku sjs • 2 days ago

    Could you please elaborate? I'm very interested in what you said.
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        sjs Steve Goku • 2 days ago

        Karpeles maintains it was an inside job and the Japanese police says the same thing.

        Japanese newspaper Yomiuri Shinbun quoted “sources in the Metropolitan Police Department” as saying that only 1% of the bitcoins, or about 7,000 BTC, reported missing by the exchange were lost due to cybertheft. The vast majority of the missing 650,000 bitcoins most likely disappeared “after the system was fraudulently operated by an unknown party.”

        Which agency planted who at Mt Gox and was this plant the inside party that took posession of the coins? The agency that the individual worked for now controls the coins.

        The emergence of decentralised crypto currencies is a threat to the established world order (money system) and if it can't be brought under control, must be destroyed.

        The process is started by steadily shorting BTC's and applying selling pressure supported by shorting 'jolts' on low volume or low activity trading days like public holidays. Bots will assist by triggered resistance levels being broken followed by further selling.

        Unlike Gold, there are no sovereigns to put a floor under BTC's. The same attempts were made in the Gold and Silver markets over the past 3 years+

        The victim (Bitcoin) is allowed to recover - that would be the present.

        The scenario will repeat itself until the mission is accomplished at a very low $ investment. Control is retained by the incumbents.

        Please note: all the above is pure fiction for your entertainment only.

BTC = Black Swan.
BTC = Antifragile - "Some things benefit from shocks; they thrive and grow when exposed to volatility, randomness, disorder, and stressors and love adventure, risk, and uncertainty. Robust is not the opposite of fragile.
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January 18, 2015, 01:00:08 AM
 #47

Well, I want the Karp deep fried...but my other early adopter friends do think it will DESTROY btc is he's implicated....or even associated with SR and DPR.

At one point there was some uncertainty on how much of bitcoin's value was due to SR. You see, SR fell and all the price did was take a dip to $85, that was quickly resolved. Today the bitcoin economy is much larger, I bet Karpeles being busted won't make a dent in the price.
I would argue that the price quickly rebounded after SR was taken down because so many people realized that you could buy illegal drugs relativity safely with bitcoin, so they did.

I would say that if Karpels was still running gox then him being implicated would be very bad for bitcoin's price however now that gox has been shut down for over a year tha should really not be an issue

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January 18, 2015, 01:11:44 AM
 #48

Bitcoin > mark k

Bitcoin > Satoshi

Bitcoin > SR

Bitcoin > DPR

Nuff said

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January 18, 2015, 01:36:46 AM
 #49

on low volume or low activity trading days like public holidays.

Being global, local holidays are not too much of a risk. There's not all that many that are international, and when they are, half the world still doesn't recognise them.

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January 18, 2015, 02:09:24 AM
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I was in the courtroom on Wednesday and Thursday.  The jurors appeared bored with the direct examination, most were fighting just to stay awake.  The exception was when Mr. DerYeghiayan started talking about what was on Mr. Ulbricht's laptop when he was arrested and what scraps of paper were found in his bedroom trash can.  The jurors appeared very interested those two times.  

During cross examination the jury was awake and interested in everything being said.  Just from my observation the defense's strategy seems to be working.  You have an agent testifying about how he was able to assume multiple different identities online and take over the moderator account "cirrus" without being detected so how can they then argue that there was only one DPR and Ulbricht was it?  Keep in mind that Karpeles wasn't just a suspect, the agent believed he had probable cause to search Mr. Karpeles' email accounts.  

The defense also poked many holes in the prosecution's case.  The agent did not know exactly when the buyers and sellers guides were posted.  The agent did not know when the escrow and commission system was started.  The agent did not know when the bitcoin tumbler was started.  The agent did not know when hacking equipment and software was first sold on Silk Road.  These questions seem to imply that the defense is going to, as they already have, readily admit that Ulbricht had a hand in starting Silk Road but it is these features that add the damaging money laundering, conspiracy, and hacking charges.

The agent also insisted that he thought DPR was male but he also admitted that he was surprised to find out that the original "cirrus" was female.  The defense also brought up how the price of bitcoin jumped up to over a thousand dollars immediately after Ulbricht's arrest.  Since Mt. Gox's trading bots may have been the reason behind that price increase expect the defense to make the case that Ulbricht was set up as the fall guy so that Karpeles could benefit from that rapid price increase.  This was not brought up in the courtroom but I wouldn't be surprised if it is brought up later.

The Bitcoin Talk forums were also brought up on Thursday.  The defense is going to say that Karpeles created the Bitcoin Talk forums.  And both the Bitcoin Talk forums and the Silk Road forums not only use the same software but the exact same version of the software even though other versions have come out.  The defense will also make the point that this software is not commonly used to make online forums.    

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January 18, 2015, 02:12:40 AM
 #51

Hard to say what will happen but if the coins get seased and feds sell it then its going to be a free for all with cheap and cheaper coins and could have some serious falls like it already is. Who knows what the future holds but right now 2015 don't feel too good for prices going anywhere other than down.

=
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January 18, 2015, 04:05:38 AM
 #52

I was in the courtroom on Wednesday and Thursday.  The jurors appeared bored with the direct examination, most were fighting just to stay awake.  The exception was when Mr. DerYeghiayan started talking about what was on Mr. Ulbricht's laptop when he was arrested and what scraps of paper were found in his bedroom trash can.  The jurors appeared very interested those two times.  

During cross examination the jury was awake and interested in everything being said.  Just from my observation the defense's strategy seems to be working.  You have an agent testifying about how he was able to assume multiple different identities online and take over the moderator account "cirrus" without being detected so how can they then argue that there was only one DPR and Ulbricht was it?  Keep in mind that Karpeles wasn't just a suspect, the agent believed he had probable cause to search Mr. Karpeles' email accounts.  

The defense also poked many holes in the prosecution's case.  The agent did not know exactly when the buyers and sellers guides were posted.  The agent did not know when the escrow and commission system was started.  The agent did not know when the bitcoin tumbler was started.  The agent did not know when hacking equipment and software was first sold on Silk Road.  These questions seem to imply that the defense is going to, as they already have, readily admit that Ulbricht had a hand in starting Silk Road but it is these features that add the damaging money laundering, conspiracy, and hacking charges.

The agent also insisted that he thought DPR was male but he also admitted that he was surprised to find out that the original "cirrus" was female.  The defense also brought up how the price of bitcoin jumped up to over a thousand dollars immediately after Ulbricht's arrest.  Since Mt. Gox's trading bots may have been the reason behind that price increase expect the defense to make the case that Ulbricht was set up as the fall guy so that Karpeles could benefit from that rapid price increase.  This was not brought up in the courtroom but I wouldn't be surprised if it is brought up later.

The Bitcoin Talk forums were also brought up on Thursday.  The defense is going to say that Karpeles created the Bitcoin Talk forums.  And both the Bitcoin Talk forums and the Silk Road forums not only use the same software but the exact same version of the software even though other versions have come out.  The defense will also make the point that this software is not commonly used to make online forums.    

Agent DerYeghiayan himself stated during the investigation that he thought that DPR had changed at least once and he was frustrated by not being able to be sure if the screen names he was talking to were the same persons throughout.  He even said "Who's on first?" at one point during the investigation.  He also noticed that DPR was offline for two days prior to Mr. Ulbricht's arrest which was an unusually long time for DPR to be offline.  He also noticed that there was an account called "PeaceLoveHarmony" that was sitting on DPR's profile for over two hours which was unusual behavior.  Yeghiayan thought that "PeaceLoveHarmony" could be law enforcement so he asked all his colleges if it was them and they all said no but it could have been law enforcement from another team unrelated to his investigation.

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January 18, 2015, 04:07:24 AM
 #53

How many BTC did you lose?
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January 18, 2015, 10:37:11 AM
 #54

How many BTC did you lose?

Do you mean in the Gox's "crack" ?  I personally didn't lost anything ...but there are a lor of users that weren't lucky.
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January 18, 2015, 10:45:48 AM
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...they all said no but it could have been law enforcement from another team unrelated to his investigation.

It's terrible but that actually made me lol.
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January 18, 2015, 05:10:31 PM
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...they all said no but it could have been law enforcement from another team unrelated to his investigation.

It's terrible but that actually made me lol.

His main worry throughout the investigation was that some other law enforcement was going to screw it up.  DerYeghiayan was furious with other agents for seizing Karpeles' websites and meeting with his attorneys.  He was afraid to tip Karpeles off that he was a target in the Silk Road investigation.  The defense's story will likely be that Karpeles found out they were closing in on him on Silk Road and set up Ulbricht to save his own skin.   

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January 18, 2015, 06:05:04 PM
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During cross examination the jury was awake and interested in everything being said.  Just from my observation the defense's strategy seems to be working.  You have an agent testifying about how he was able to assume multiple different identities online and take over the moderator account "cirrus" without being detected so how can they then argue that there was only one DPR and Ulbricht was it?  Keep in mind that Karpeles wasn't just a suspect, the agent believed he had probable cause to search Mr. Karpeles' email accounts.  
if they were more interested in cross examination then the cross examination is likely going to have a greater impact on them. A very good point was made that the agent was able to assume multiple online identities - this should raise doubt in the prosecution's case. 
The defense also poked many holes in the prosecution's case.  The agent did not know exactly when the buyers and sellers guides were posted.  The agent did not know when the escrow and commission system was started.  The agent did not know when the bitcoin tumbler was started.  The agent did not know when hacking equipment and software was first sold on Silk Road.  These questions seem to imply that the defense is going to, as they already have, readily admit that Ulbricht had a hand in starting Silk Road but it is these features that add the damaging money laundering, conspiracy, and hacking charges.
This is a somewhat of a step in the right direction however the government is going to have more witnesses and can present evidence to show when this all happened (although they might not have access to the forum servers as it was not taken down when Silk Road was taken down).
 
The Bitcoin Talk forums were also brought up on Thursday.  The defense is going to say that Karpeles created the Bitcoin Talk forums.  And both the Bitcoin Talk forums and the Silk Road forums not only use the same software but the exact same version of the software even though other versions have come out.  The defense will also make the point that this software is not commonly used to make online forums.    
Karpeles didn't create bitcointalk? It was started by satoshi and sirus.

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January 18, 2015, 06:16:26 PM
 #58

If this turns out to be real I think it will be a bad hit for bitcoin enviroment

Everything blamed on mark k might be great actually.  Soon people going to slowly understand that this doesnt change anything about bitcoin itself.
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January 18, 2015, 06:23:51 PM
 #59

...they all said no but it could have been law enforcement from another team unrelated to his investigation.

It's terrible but that actually made me lol.

His main worry throughout the investigation was that some other law enforcement was going to screw it up.  DerYeghiayan was furious with other agents for seizing Karpeles' websites and meeting with his attorneys.  He was afraid to tip Karpeles off that he was a target in the Silk Road investigation.  The defense's story will likely be that Karpeles found out they were closing in on him on Silk Road and set up Ulbricht to save his own skin.   
This would be possible, but I don't think mark would be smart enough to pull something like that off.

I was also under the impression that DHS seized Gox's US bank account was a way to try to get them to strengthen their AML policies to make it easier to find when people from SR were selling on gox as it was believed that many were (at least this is what I remember from MSM news reports at the time)

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January 20, 2015, 10:42:02 PM
 #60

if "you" say that it is possible only because the defense's mention Mark Karpeles as being "the pirate" then you have to say that  the defense's mention of Mark Karpeles's ownership of the site Bitcointalk.org too Smiley
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