Here's my gox theory | Bitcointalksearch.org

Pangia

sr. member

Activity: 406

Merit: 250

Quote from: papasmurf on February 23, 2014, 09:26:54 AM

Mark: Hey look transaction malleability is a thing, let's halt withdrawals for a bit until we fix it
Associates: Oh yeh, good idea.

*pauses withdrawals*

Other exchanges: Oh shit, that actually is a thing, let's halt withdrawals too
Other exchanges: Yeh ok fair enough

*malleability fixed*

Other exchanges: Ok done, allow withdrawals again
Other exchanges: Nice one guys, back on the way to the moon

Mark: Holy shit BTC is so cheap right now, if only I bought a couple before I allowed... Oh wait, I am the sole force in the Gox market right now, if I just manipulated the price a little lower I could.... Holy shit this is really working!! *buy buy buy*

Associates: Hey Mark, shouldn't we like... allow withdrawals now?

Mark(+the ppl in the loop): No, there's this thing about this thing and well, yeh it's technical and... stuff so, don't allow them till xx/xx *Gets 100k USD Loan to buy btc*

-----------------------Present Day------------------------------
-----------------------Sometime In the Future-------------------

Mark: Wow I have a shitload of cheap BTC, I could just allow withdrawals now and boom, profit bitch.

Prediction: Gox back up in the next month, and everyone just sweeps it under the rug.

This theory of yours is just a variation of the many theories posted, that in the end, are all hoping that MTGOX isn't a dead and bloated corpse.

Gox is dead! Bagholders left in Gox are screwed. Move on and acknowledge that the death of Gox is good thing. Everyone knows Mark Karpeles and if it comes out that he screwed so many people over intentionally by the manipulation that you posit in your theory, I don't think that there's a place in the world he could hide.

Gox is dead, accept it.

darkmule

legendary

Activity: 1176

Merit: 1005

Quote from: darkmule on February 23, 2014, 09:22:21 PM

The BCF does not appear to stand for peons like us, but instead, "great men" like Mark Karpeles.

I'm pleasantly surprised to be wrong about my cynical assumptions. My opinion is that this resignation was demanded and is basically a "quit or be fired" situation. So I retract this hostile comment.

zeetubes

sr. member

Activity: 371

Merit: 250

Quote from: Jeronimus on February 24, 2014, 10:19:33 AM

I don't think karpeles is out for your money.

....
What is more likely, seeing the way he acts, is him being a paid assassin to harm/kill BTC. Guess by who.

That's actually quite a good hypothesis. Perhaps the Fed offered to bail him out if he crashed the price of BTC. OTOH perhaps he is simply an incredibly stupid cunt who can't run any business. Seriously, how the hell can anyone screw up what he had two years ago?

Old joke: How do you put an MBA graduate in charge of his own small business?

A: Put him in charge of a big business and wait...

Jeronimus

member

Activity: 97

Merit: 10

I don't think karpeles is out for your money. If money was his motive, he could have made fortunes just of the fees when he had 80%+ of the market.

If he was just corrupt, there were plenty of chances for him to make fortunes by abusing the exchange powers. Just a simple example. He could have made millions through arbitrage, as there was a huge price difference because of USD withdrawal delays caused artificially most likely.
Karpeles being the owner of the exchange certainly did not have such withdrawal delays himself, or any of his insider friends he could have cooperated with.

No really, money is not his motive, because he could have made enough for several lifetimes and then some.

What is more likely, seeing the way he acts, is him being a paid assassin to harm/kill BTC. Guess by who.

zeetubes

sr. member

Activity: 371

Merit: 250

Quote from: jhansen858 on February 23, 2014, 08:25:33 PM

so many noobs in here posting absolute bs. its actually quite entertaining. This is nothing compared to the hack that brought bitcoin down to $0.01 back in the day. Its funny how people who were not around back then think this is srs biznassz.

When you exit puberty, you'll look back on that comment and cringe. Please stop trying to sound superior. No one is listening.

lano1106

member

Activity: 112

Merit: 10

Quote from: UltraPleb on February 23, 2014, 12:05:58 PM

Karpeles is just a criminal hiding behind a screen, is there any way to remove him from the BTC Foundation?

done!

Bit_Happy

legendary

Activity: 2114

Merit: 1040

A Great Time to Start Something!

Quote from: pungopete468 on February 23, 2014, 10:52:27 AM

Gox is in trouble... Big trouble...

It's not about buying cheap coins... They've been a dead stick since the FBI stole all of their USD and closed their operating accounts...

There's only one thing that can pull them out of this mess; new investment capital. They can sell all or part of the business to inject new capital. I'm not sure how far below water they are; it might be cheaper to start over with a new exchange than to salvage Gox...

It really depends on how much BTC the hackers stole recently.

Gox made more than enough last year to cover what the Feds stole.

Don't believe that?
Look at one single good day late last year (for example)
~74,000 BTC volume*~$1089.57USD/BTC = ~$80,628,180*~1%fees = ~$806,281.80 in one single (above average) day

Like I said:
Gox made more than enough last year to cover what the Feds stole.

dafqok

newbie

Activity: 30

Merit: 0

Now, goxonism or its precursor karpel-syndrom spreads to real world banks as well.
http://www.zerohedge.com/sites/default/files/images/user3303/imageroot/2014/02/20140223_atm.jpg

darkmule

legendary

Activity: 1176

Merit: 1005

Quote from: UltraPleb on February 23, 2014, 12:05:58 PM

Karpeles is just a criminal hiding behind a screen, is there any way to remove him from the BTC Foundation?

One wonders if the purpose of the BCF is, in fact, simply to lend a group of self-interested bad actors a veneer of credibility. I will certainly start to think that if they don't get rid of someone who, whether or not he is an outright crook (there is not sufficient information to decide that), has acted absolutely imprudently and incompetently and caused incalculable harm to the Bitcoin community.

The BCF does not appear to stand for peons like us, but instead, "great men" like Mark Karpeles.

darkmule

legendary

Activity: 1176

Merit: 1005

Quote from: erre on February 23, 2014, 10:42:09 AM

Die Mark Karpeles, DIE!!!

*fixed

Why are you explaining the definite article in German to Karpeles? Are you a German instructor?

StarfishPrime

sr. member

Activity: 358

Merit: 250

However this current (mostly manufactured) 'crisis' plays out, it's clear that mtgox's potential to profit from it has been huge. It's highly unlikely that they have not leveraged the situation to their financial advantage somehow.

What's almost certain however is that any funds they have left, even after this latest in a string of ongoing fiascos, will never cover the existing and upcoming lawsuits to be filed against them.

MtGox is dead, whether they know it or not. They can never rebuild the confidence they've lost at this point.

jhansen858

sr. member

Activity: 364

Merit: 250

so many noobs in here posting absolute bs. its actually quite entertaining. This is nothing compared to the hack that brought bitcoin down to $0.01 back in the day. Its funny how people who were not around back then think this is srs biznassz.

keithers

legendary

Activity: 1456

Merit: 1001

This is the land of wolves now & you're not a wolf

I believe it is being operated like the Ultimate Bet Poker website. I think that upper management always planned on having sufficient new deposits in order to be able to process withdrawals.

I think it will ultimately be determined that they were operating Gox like a Ponzi scheme, which (despite being unfair), will reflect negatively on the whole ecosystem (temporarily).

justusranvier

legendary

Activity: 1400

Merit: 1013

Quote from: greenlion on February 23, 2014, 12:16:16 PM

Gox is inviting all the wild speculation and innuendo you can possibly imagine by taking forever to resolve a fairly straightforward technical issue, lying about the nature of that technical issue to begin with, and offering zero helpful communications whatsoever.

That's just how they roll.

greenlion

hero member

Activity: 667

Merit: 500

Gox is inviting all the wild speculation and innuendo you can possibly imagine by taking forever to resolve a fairly straightforward technical issue, lying about the nature of that technical issue to begin with, and offering zero helpful communications whatsoever.

The market is pricing Gox's credibility right this moment vis-a-vis the spot price, and it doesn't look pretty. There is no way in hell Gox can sustain such a low price unless the overwhelming majority opinion of market participants is that those cheap coins will never materialize.

UltraPleb

newbie

Activity: 42

Merit: 0

Karpeles is just a criminal hiding behind a screen, is there any way to remove him from the BTC Foundation?

V4Vendettas

sr. member

Activity: 294

Merit: 250

Quote from: dreamspark on February 23, 2014, 11:53:35 AM

Just no. This is unlikely, its incompetence not malice which is dragging it out this long. My prediction : Withdrawals by wednesday, everybodys happy and life goes on. Oh except for the people trying to sue, they get their accounts locked for a two year legal battle and end up with pennies on the dollar.

I also believe its incompetence not malice. Still not everyone thinks this so good luck to him.

apulunas

newbie

Activity: 34

Merit: 0

the japanese prisons are very famous for violating human rights you know...

dreamspark

hero member

Activity: 798

Merit: 1000

Just no. This is unlikely, its incompetence not malice which is dragging it out this long. My prediction : Withdrawals by wednesday, everybodys happy and life goes on. Oh except for the people trying to sue, they get their accounts locked for a two year legal battle and end up with pennies on the dollar.

Ginos

member

Activity: 116

Merit: 100

i wonder how the japanese government didn't do nothing about this guy yet
i hope he got what he deserve

Topic: Here's my gox theory (Read 2957 times)