Topic: Raising BTC to get Mark Karpeles called a bitch liar face to face - page 4. (Read 9691 times)

I think the more effective thing is legal action, both civil and criminal. This incompetence has gone on long enough now.

ITT: OP's very public misogyny issues.

I can see how this would help you feel better, but you are being selfish. This would not help the community or bitcoin in any way. Your tiny little bit of revenge for a temporary price drop where you barely even lost a few hundred dollars in earnings that were not even yet realized would make all of us looking like a bunch of hostile and cursing morons. This is a really immature plan that sounds like gradeschool-level bullying. ISHYGDDT

I agree , even if it wasn't true , why would any legitimate exchange service still run? Shouldn't they disable the tradings if they are speaking the truth? Fuck mtgox , can't wait till it dies and that big fat Mark goes to jail

True, it's a speculation that they are insolvent...

However, the evidence in support is staggering.

Consider this; Gox is only a few years old and they operate a financial exchange business.

Most financial exchange businesses with solid business models profit less than 1% per year, now in a financial exchange, 1% can be billions of dollars due to the sheer volume of trade and 1% is actually a high expectation.

So we can assume that Gox has a solid business model and can profit 1% per year after all operating expenses (which is unlikely and more of an annual goal.) From this small amount they can build a financial foundation to secure themselves in preparation for hard times in the future.

Now, look at what happened when the FBI seized their accounts; this wasn't profit... This was the "volume of trade" part that I referred to above. This is the top line of their balance sheet...

How can a business with less than 1% net profit recover from a loss of their gross revenue like that?

Regardless of what you or I think they did, have done, or are doing; they will be bankrupted by their previous misfortune. They have major debts that need to be paid and the only thing they had were Bitcoins...

Businesses close for much less than what Gox suffered every day; how is Gox immune to failure where other, older, more secure companies have fallen for less?

Precisely. There aren't any BTC, there aren't any USD, there are no fees. For all we know, this is how it's been for months... this is how Ponzi schemes crash and burn, unfortunately.

They don't have any Bitcoins left to buy... The exchange is trading "virtual" Bitcoins that don't have real Bitcoins to back them up...

I suspect there are enough people with enough BTC who have lost enough money and have not enough scruples that being called a bitch is about the last thing Karpeles needs to be worrying about these days.

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