Other 'old format' wallets discovered with surprise bitcoins in.
More likely: 'old format' bonus 200,000 was MK's secret stash that he's been putting away a bit at a time to cover Gox's immense losses due to various hacks, incompetence and Frappucino benders over the years. Wasn't going too badly, but then the price dropped and he got caught before he could get the rest.
Most likely: they were his retirement fund.
Whatever, those 200,000 weren't a surprise to Karp. No way do you just forget you had that amount of money.
Topic: Predict the next Gox revelation here and win respect from fellow forum members (Read 3774 times)
March 26, 2014, 12:07:11 PM
March 26, 2014, 12:02:12 PM
The bitcoin community will be devastated to learn that the cake is a lie.
The cake is real!!! Or is it a tarte?
https://www.youtube.com/watch?v=GQ3g6IwrZZg
March 26, 2014, 11:38:05 AM
Here's mine:
U.S. Govt doesn't wish to steal non-criminal people's Bitcoin, but they do badly want the data Mt. Gox has to peruse what they define as criminal activity and fill out certain mappings of economic activity. These mappings will be handed over to a privately operated taint authority.
Users who were to dumb to pull their BTC out of Mt. Gox over the last half a year will be able to retrieve their BTC by submitting various documentation and registering appropriately. This registry will be part of the body of data used in for 'legitimate' business to obtain and maintain a 'bitcoin license.'
Karpeles will cooperate fully and be fine. In fact he'll probably walk away a fairly rich man.
The Bitcoin Foundation will work actively and effectively to pave the way for this new ecosystem paradigm. As a result many of their membership will have their BTC grandfathered in free of taint even when the origin is fairly questionable. Those who have rejected the Bitcoin Foundation will have more trouble in this regard.
U.S. Govt doesn't wish to steal non-criminal people's Bitcoin, but they do badly want the data Mt. Gox has to peruse what they define as criminal activity and fill out certain mappings of economic activity. These mappings will be handed over to a privately operated taint authority.
Users who were to dumb to pull their BTC out of Mt. Gox over the last half a year will be able to retrieve their BTC by submitting various documentation and registering appropriately. This registry will be part of the body of data used in for 'legitimate' business to obtain and maintain a 'bitcoin license.'
Karpeles will cooperate fully and be fine. In fact he'll probably walk away a fairly rich man.
The Bitcoin Foundation will work actively and effectively to pave the way for this new ecosystem paradigm. As a result many of their membership will have their BTC grandfathered in free of taint even when the origin is fairly questionable. Those who have rejected the Bitcoin Foundation will have more trouble in this regard.
Well, it's about a month on and I just thought I'd, ya know, reiterate.
I'd say that Mt. Gox 'finding' various hoards is evidence that I was right in that the BTC were not stolen in the normal sense but rather that Mt. Gox's ability to operate freely was damaged due to government pressure. Agreements about how to un-wind are underway and I continue to suspect that most users will be made whole-ish if they play ball.
I'll continue to predict that this loss of access to a significant pool of wealth will be used as leverage to forge the Bitcoin ecosystem into a form that various parties both within the government and without will find palatable. And a form which most real Libertarians will not.
February 28, 2014, 04:17:46 AM
The crisis document claims they've lose 742,400 out of 744,400 coins and that they only have 2000 coins left.
Here is my prediction.
The theft related to the transaction malleability was small and probably only 5-20% of their actual funds - all it did was empty their hot wallet and force them to try to redeem their cold wallet. Imo, there is no chance that they lost 99.9% of their bitcoin from that theft, since it would have equated to 500-600 coins per day since mtgox's inception; or $50,000 a day in the long, sustained stable period of a average price of $100 usd/btc.
Upon trying to redeem their huge cold wallets with around 80% of the customer's 774,000 coins; Mark discovered that the private keys could not be recovered due to some bug in his own custom coded software. Ever since he's been stalling for time, trying to recover the keys to the private storage. The document is in fact real, and mark would rather cry theft than admit that he accidentally lost the keys to 772,000 coins. The document was being circulated to potential investors so that Mtgox could be bought and no one would ever know the true depth of Mark's incompetence.
The document was leaked by someone involved in the potential acquisition and that immediately destroyed some interest in the acquisition.
I still believe that Mtgox may be acquired or some outside experts may be brought in to recover the private keys.
The private keys may not be recoverable, and 600,000-700,000 coins are lost forever.
Here is my prediction.
The theft related to the transaction malleability was small and probably only 5-20% of their actual funds - all it did was empty their hot wallet and force them to try to redeem their cold wallet. Imo, there is no chance that they lost 99.9% of their bitcoin from that theft, since it would have equated to 500-600 coins per day since mtgox's inception; or $50,000 a day in the long, sustained stable period of a average price of $100 usd/btc.
Upon trying to redeem their huge cold wallets with around 80% of the customer's 774,000 coins; Mark discovered that the private keys could not be recovered due to some bug in his own custom coded software. Ever since he's been stalling for time, trying to recover the keys to the private storage. The document is in fact real, and mark would rather cry theft than admit that he accidentally lost the keys to 772,000 coins. The document was being circulated to potential investors so that Mtgox could be bought and no one would ever know the true depth of Mark's incompetence.
The document was leaked by someone involved in the potential acquisition and that immediately destroyed some interest in the acquisition.
I still believe that Mtgox may be acquired or some outside experts may be brought in to recover the private keys.
The private keys may not be recoverable, and 600,000-700,000 coins are lost forever.
I think the above is good but I would add the following twist. Mtgox's reserves are recoverable but he only has 500k btcs and is short 240k btcs. He decided to "protect" the wealth of mtgox and hope for a buyer to make up the difference instead of shutting it down. Personally, he has stashed away some btcs for retirement.
February 28, 2014, 01:09:51 AM
Mark Karpeles undergoes sex change 'I always felt like a girl'
Would explain his inability to have any sort of control of the money.
Would explain his inability to have any sort of control of the money.
I think we have a winner ... damn good job in such a short time ...
Wow, I know support Gox
February 27, 2014, 04:52:33 PM
Mark Karpeles's shit hit the fan
and spread nicely over faces of bit(gox)coin owners
and spread nicely over faces of bit(gox)coin owners
February 27, 2014, 04:31:34 PM
Western Union buys MtGox, refunds everyone, surpasses Paypal as the Internet payment provider.
Hikmet Ersek on cover of WSJ, Wired, Playboy.
Hikmet Ersek on cover of WSJ, Wired, Playboy.
February 27, 2014, 04:25:52 PM
OK my guess
He had Mike make a very special batch of Frappucino Flavoured Physical Chocolate Bitcoin Bars.
He stored them in a very secure fridge and transferred Gox's BTC onto them. The ultimate cold storage.
Seemed like a good idea at the time.
But those long nights, the stress ... and the occasional SR purchase ... those little Frappo munchies were too much to resist
Technically they are not lost, he knows where they are, but available ... not so much
He had Mike make a very special batch of Frappucino Flavoured Physical Chocolate Bitcoin Bars.
He stored them in a very secure fridge and transferred Gox's BTC onto them. The ultimate cold storage.
Seemed like a good idea at the time.
But those long nights, the stress ... and the occasional SR purchase ... those little Frappo munchies were too much to resist
Technically they are not lost, he knows where they are, but available ... not so much
February 27, 2014, 02:57:49 PM
He didn't found any investors yet, he is looking for another investors.
The announce will be in the next 24h.
The announce will be in the next 24h.
February 27, 2014, 12:53:16 PM
Mark Karpeles undergoes sex change 'I always felt like a girl'
Would explain his inability to have any sort of control of the money.
Would explain his inability to have any sort of control of the money.
I think we have a winner ... damn good job in such a short time ...
February 27, 2014, 11:00:10 AM
Mark Karpeles undergoes sex change 'I always felt like a girl'
Would explain his inability to have any sort of control of the money.
Would explain his inability to have any sort of control of the money.
Funny, but that would take too long. More likely, plastic surgery to alter his facial traits, maybe even fake fingerprints.
If he wants to survive this, he'll have to disappear and assume a new identity.
February 27, 2014, 10:43:09 AM
Mark Karpeles undergoes sex change 'I always felt like a girl'
Would explain his inability to have any sort of control of the money.
Would explain his inability to have any sort of control of the money.
There is already a youtube video of him fingering his pussy.
https://www.youtube.com/watch?v=81QkfGpHeyQ
February 27, 2014, 10:28:16 AM
Mark Karpeles undergoes sex change 'I always felt like a girl'
Would explain his inability to have any sort of control of the money.
Would explain his inability to have any sort of control of the money.
February 27, 2014, 10:02:18 AM
It's sad to see hope dead cat bounce all the way down.
First it's the (fairly reasonable to begin with) hope that withdrawals will start again, albeit limited.
Then it's the hope (less reasonable) that Gox is being bought out.
Now it's the hope that 750k Bitcoin is in cold storage with some kind of key problem.
I'm feeling every stage.
What makes you think the market is all about gox now? Thare are so many bullish things going on right now that have nothing to do with mtgox - mtgox is just the flavor of the month right now. I think this sudden immense support on bitstamp is coming from investors who are investing in, you know... bitcoin. Not mtgoxcoin.First it's the (fairly reasonable to begin with) hope that withdrawals will start again, albeit limited.
Then it's the hope (less reasonable) that Gox is being bought out.
Now it's the hope that 750k Bitcoin is in cold storage with some kind of key problem.
I'm feeling every stage.
Pardon? What do you mean "What makes you think the market is all about gox now?" ?
I'm talking about Gox. This thread is about Gox.
What makes you think that a thread named "Predict the next Gox revelation here" is all about "bullish things going on right now that have nothing to do with mtgox" ?
Post in the right threads.
February 27, 2014, 09:35:08 AM
It's sad to see hope dead cat bounce all the way down.
First it's the (fairly reasonable to begin with) hope that withdrawals will start again, albeit limited.
Then it's the hope (less reasonable) that Gox is being bought out.
Now it's the hope that 750k Bitcoin is in cold storage with some kind of key problem.
I'm feeling every stage.
What makes you think the market is all about gox now? Thare are so many bullish things going on right now that have nothing to do with mtgox - mtgox is just the flavor of the month right now. I think this sudden immense support on bitstamp is coming from investors who are investing in, you know... bitcoin. Not mtgoxcoin. First it's the (fairly reasonable to begin with) hope that withdrawals will start again, albeit limited.
Then it's the hope (less reasonable) that Gox is being bought out.
Now it's the hope that 750k Bitcoin is in cold storage with some kind of key problem.
I'm feeling every stage.
February 27, 2014, 09:25:23 AM
Someone will buy MtGox for the brand, fully refund all the account and bring a professional platform of trading.. It will ROI within 18 month..
February 27, 2014, 08:05:07 AM
Mark spent $700 million on failed kick starter projects.
February 27, 2014, 07:58:11 AM
Site gets put back online next week with a rebrand (just a new logo).
btc withdrawals limited to 5btc per day\week purely to stop everyone running with coins and keep the business viable.
Mark announces step-down and takeover from a 3rd party. new CEO publishes a statement listing features\optimizations to the trading engine, altcoin implementations etc to help evolve the business and distance itself from the 'old' mtgox. financial reports published each quarter (similar to bitstamps last announcement).
in a few months, or whenever deposits seem to have built back up and confidence restored, withdrawal limit removed and trading fees reduced as a good will gesture for a set period to entice customers back that fled on the re-opening.
btc withdrawals limited to 5btc per day\week purely to stop everyone running with coins and keep the business viable.
Mark announces step-down and takeover from a 3rd party. new CEO publishes a statement listing features\optimizations to the trading engine, altcoin implementations etc to help evolve the business and distance itself from the 'old' mtgox. financial reports published each quarter (similar to bitstamps last announcement).
in a few months, or whenever deposits seem to have built back up and confidence restored, withdrawal limit removed and trading fees reduced as a good will gesture for a set period to entice customers back that fled on the re-opening.
February 27, 2014, 07:32:22 AM
It's sad to see hope dead cat bounce all the way down.
First it's the (fairly reasonable to begin with) hope that withdrawals will start again, albeit limited.
Then it's the hope (less reasonable) that Gox is being bought out.
Now it's the hope that 750k Bitcoin is in cold storage with some kind of key problem.
I'm feeling every stage.
First it's the (fairly reasonable to begin with) hope that withdrawals will start again, albeit limited.
Then it's the hope (less reasonable) that Gox is being bought out.
Now it's the hope that 750k Bitcoin is in cold storage with some kind of key problem.
I'm feeling every stage.
February 27, 2014, 12:53:58 AM
Gox had been keeping a fractional reserve of bitcoins and had been doing so for years.
They had only one or two coins for every ten coins that people had stored on their exchange.
When the price increased x1000 their liabilities increased x1000 and they had no where near enough fiat to buy coins for everyone to withdraw.
Jump to: