Topic: .................................................................. - page 3. (Read 7957 times)

Yes, it could very well be criminal.  I don't know which entity is going to do anything about it though.  The Japanese authorities, from what I've read, are taking a big hands off approach.  THey did market in the US so I think you could sue them in the US.

Everything was coordinated and synchronized: Gox shutdown, industry contradictory statement, obvious fake inside document leak on major news. There is no theory, shit is going on for real.

They all DID KNOW obviously.  Gox should have informed users of stopping transfers (BTC/fiat), as soon as they stopped withdrawals.  The fact that they did not warn customers of their impending collapse is criminal!

I don't have links, but i also read several of them saying that on the news, twitter etc, they were the ones who signed the contradictory statement.

That's a matter of fact, nobody can deny it.

Bitcoin is looking just like a big scam.

I didn't see that at all?  Can you provide a link to even one instance in the past few days of someone from the Bitcoin Foundation (or any well-informed member of the bitcoin community) saying the were convinced Gox would be fine?

Conspiracy or not, there is a small circle of connections between certain investors in Bitcoin, US law enforcement, hackers, and a lengthening list of failed, likely scuttled, Bitcoin exchanges.

FBI: LulzSec leader working for us for at least the last six months

FBI directed LulzSec in hacks at the time of major Bitcoin thefts

MtGox partners with BitInstant to service US customers

CEO of CoinLab is Chairman of Bitcoin Foundation

"Coinlab are sneaky bastards, investors behind Bitcoinica"

Coinlab sues MtGox for $75 million over US customers

Bitcoin Foundation meets with regulators, law enforcement

Feds seize MtGox accounts

BitInstant CEO arrested

Bitcoin Foundation praises US regulators

NY Bitcoin regulator plans to divide and conquer

FBI: Alternative Currencies are "Domestic Terrorism" -- "We are determined to meet these threats through infiltration, disruption, and dismantling"

If you want to understand what is really happening in Bitcoin, go ahead and read some of these threads.  I don't post this shit for my health.

Did, yes. I misunderstood what their role was.


I don`t want anyone to tell me what to do, that`s the point. I`m not going to be assuming anyone is right just because they hold a certain position in the community. I`m going to look at the fundamentals and sentiment for myself. But you`re right, that`s a lesson learned through experience.

Although some of it is conspiracy-theory-esque, I agree with a lot of the sentiments in this thread - the whole situations smells bad. Between Gox, the Foundation, "industry leaders" (whatever) and FUD document leaks, something is not right in this story at all. Something bigger might well be behind it.

But you know, on Wall Street and in the hedge fund industry they have an important slang term "OPM" - other people's money. Playing with OPM is very different than playing with your own. Between kickbacks and connections and form-filling, they make very sure that losing it all is of no consequence to them.

When it comes to money, which after all is power, don't put your trust in any kind of authority, no matter how much reputation, history, might, charisma or qualifications it has, because the chance is they will either (a) rob you blind or (b) treat your money with the respect they have for all OPM - i.e. none.

Let them play their games - choose exit, it's the only choice you really have.

Where did the Foundation say that MtGox or any other individual or bitcoin business was answerable to them?

I am amazed that they even managed to get MtGox's resignation from their board.

I think you vastly overestimate the power and relevance of the Bitcoin Foundation.

There are plenty of smart people involved in bitcoin, who pass along verifiable facts and clearly mark their own speculation as speculation. Then there are a much greater number of people who don't know their arse from their elbow, yet feel comfortable making statements of fact that turn out to not be fact.

If you want other people to sort these two groups of people for you and just tell you what to do then bitcoin right now is not for you. This lesson only seems to be learnt during the hard times, not the times when it feels like we are going to the Moon.

Ikinoki, are you located in Japan?

I for one put (a little bit of) money into mtgox as recently as this morning Japan time - less than an hour before mtgox disabled trading (yes they accepted deposits right until they disabled trading). But what made me somewhat confident that mtgox was going to be ok was that there was the Bitcoin Foundation meeting but they made no statement about mtgox, and during those few days all these well-known Bitcoin figures were saying they were convinced Gox would be fine.

I took a risk and I will live with it. But I certainly won`t be listening to any "authority" in the Bitcoin community ever again. They`re clearly watching out for their own special interests and aren`t necessarily going to be honest or forthcoming. Bitcoin Foundation? WTF do I care about a Bitcoin Foundation now. It`s meaningless.

In the land of yakuza it should not be hard to get someone disappeard like the bitcoins.

I am not in gox but I would gladly contribute to this.

People should not get away with this. The justice system will not do anything because they are happy as it is.

We need to give a real statement. A hard one too so that people will be warned that we are not to mess with. We didn't came from one fraudulent system to another.

Now the bitcoin foundation is 'shocked'. I mean really!?

We need to investigate this guys, I agree, fuck government regulation, but WE must regulate it in an open market!

Time to use shares and bonds and for exchanges to sell out and exchanges must have joint recovery funds with multiescrow.

Yet there are plenty of negative MtGox threads in Discussion, and I've seen many senior members and forum mods say negative things about MtGox.

Please do so in the appropriate altcoin forum.

Such statement with so many people involved are written weeks before if not months. My thoughts and speculation blockchain.info first got the news and then spread it to other ceo's. He was the first invited to check.


I claimed a fact that they knew about situation - you agree with this.
I claimed a fact they profited of it, or you think the sell wall was someone's joke? The whale with 10k was too desperate, he even showed additional 5k.


Maybe we do indeed


Good, so you agree with me finally.

I'll add, there must be another transparent wallet with exchange commissions.

I think the very large criminal element does harm bitcoin, it is very of putting to me at least. Besides what is really left of the bitcoin ideal if a few hundred bitcoin oligarchs own the bulk of all bitcoins and another large chunk is in the hands of criminals.
Doesn't exactly sound like a tool to create a more fair and equal world.
Things like vertcoin and protoshares, etc. start to look more appealing. i will support any coin that builds in a defense against concentration in the hands of a few early adopters.

That's pretty elementary.  Besides their own incompetence, MtGox's difficulties have always stemmed from two causes:  regulation and hackers.  And there is plenty of reason to believe that the ultimate source of both of these are one and the same.  Regulation exists to create barriers to entry.  Licensed exchanges would obviously have the help of their host governments, just like any other international industry.  And host governments would get their pay-offs and kick-backs in return.  Killing off MtGox, dividing up the loot and cartelizing Bitcoin exchange would be a profitable endeavour for all sorts of people.

The Bitcoin Foundation has been a fairly shady organization from its inception.  Karpeles was pretty much always paying the bills, but there's no telling who was actually in charge.  It started out by working in secret, on their private forum instead of public forums like this one.  Besides kowtowing to regulators and investors, it's been a mystery for some time what their purpose has been.  But now we see the fruits of their effort:  core developers are calling for regulation and limiting Bitcoin in subtle ways;  board members are suing each other, regulators start issuing these ridiculous edicts and "warnings," seizing bank accounts and arresting Bitcoin traders;  financial industry insiders and shady investors with unknown agendas start coming out of the woodwork, having apparently been working behind the scenes for a while.

It's pretty obvious that there is a huge constellation of interests at work here, and most roads lead back to the US.  Just follow the money.

Agreed- People have to realize that just like the big players in almost any industry will get wind of news way before it happens (through inside connections), it isn't different over here in the world of crypto. Based on the fact that they had to all coordinate that statement, I'm pretty sure they knew about it for at least a couple of days.

Ey OP, stop spreading FUD. Europe promised nothing.