[2014-02-27]: Leaked: Just before Bitcoin catastrophe, MtGox dreamed of riches

aigeezer

legendary

Activity: 1450

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Cryptanalyst castrated by his government, 1952

Quote from: cyrpi4 on February 28, 2014, 02:52:38 AM

I am really interesting to know who are that MtGox executives who made this Business Plan ?
And pardon me but who is Ryan Selkis? why he was named "Two-Bit Idiot"?

I had never heard of him so I had to look.

Wowsers! Is it really this easy?

"Former Analyst at JPMorgan Investment Bank"

https://angel.co/ryan-selkis

hmmmstrange

hero member

Activity: 669

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Quote from: cyrpi4 on February 28, 2014, 02:52:38 AM

And pardon me but who is Ryan Selkis? why he was named "Two-Bit Idiot"?

double negative/entendre, it's actually quite clever

yogi

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Hamster ate my bitcoin

The thing I'm finding really hard to believe, is that MtGox lost >700k btc from a malleability bug. This could only happen if they didn't even do the most basic form of accounting.

aigeezer

legendary

Activity: 1450

Merit: 1013

Cryptanalyst castrated by his government, 1952

It is even harder than usual to guess who is doing what to whom. We are inundated in spin from various sources. Within this article, for example:

"According to Bloomberg, the Bitcoin Foundation reached out to American federal prosecutors in New York immediately after the shutdown, providing information that may lead to formal charges." - suggesting that the foundation tried to take down Gox using the US government as a pointy stick. Is that credible? Who knows?

Regulatory sabre rattling is increasing. Is this the banksters making their move or just the normal ebb and flow of politics/commerce/media? Who knows?

Anyway, no need for a tinfoil hat, but I think this is a time to take nothing at face value and to give every bit of breaking news the smell test - especially leaked stories, and especially stories that discredit BTC-world.

Let the games begin.

cyrpi4

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I am really interesting to know who are that MtGox executives who made this Business Plan ?
And pardon me but who is Ryan Selkis? why he was named "Two-Bit Idiot"?

Skoupi

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Activity: 252

Merit: 250

Skoupi the Great

I 've already lost track of the possible scenarios...
I think i 'll stick with the one that says that for any reason, MK can't access his private keys.

patricktim

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Merit: 250

So, he started off saving two bucks, then investors thought it was a good idea to give him millions of their dollars to hang onto.

Bit_Happy

legendary

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A Great Time to Start Something!

Popcorn ready....

“For the next 3 to 5 years, the objectives of MtGox are to establish and promote cryptocurrencies as a trusted payment ecosystem, to acquire and connect 2 million customers by 2015 and to provide the best Bitcoin [point-of-sale] systems in the world,” the document states. “At the same time we will strive to promote Bitcoin as a trusted currency for everyone in order to increase the usage and to innovate the payment ecosystem.”

yogi

legendary

Activity: 947

Merit: 1042

Hamster ate my bitcoin

Quote

At some point in recent weeks, MtGox appears to have pitched investors, arguing that it was poised to increase its profits 20-fold in just two years on the back of “no debt nor outside financing.”

http://arstechnica.com/business/2014/02/leaked-just-before-bitcoin-catastrophe-mtgox-dreamed-of-riches/

Topic: [2014-02-27]: Leaked: Just before Bitcoin catastrophe, MtGox dreamed of riches (Read 1066 times)