Topic: Save Gox - page 3. (Read 11357 times)

We're expecting self-regulation but can't clean up our own messes...

This is a nice article on Karpeles carelessness:

http://www.reuters.com/article/2014/04/21/us-bitcoin-mtgox-karpeles-insight-idUSBREA3K01D20140421

Don't be so short sighted!  Gox was a mess from the beginning and the shitty laggy engine was behind all the first issues and major price crashes.

A major exchange run by Second Market will become the pinnacle of bitcoin trading.

They're somewhere. We'll probably find out where after enough evidence is obtained for the Tokyo Metropolitan Police to arrest and interrogate Karpeles.

For those who don't know this, police interrogations in Japan are much tougher than those in the US. They normally last 23 days.

We don't need millions of trades a second. Gox averaged about two trades a minute. Gox talked about their "new high-speed trading engine" in development, but that wasn't their problem at all.

That's why I said to go after mark legally. Try to find them, although I think they're gone and lost forever like my darling Clementine.

And like I mentioned above.. Second Market is entering the exchange game. They will offer a user experience like no other! Mark my words on that.

How are "there" gone if they just found 200k bitcoins ? How do you know that under pressure they'll not "find" another 200k ?

And to the guy above with the " In real capitalism the strong hands take over after the weak hands fail. "  what are the strong hands that took over after mt gox ? What better exchanges emerged after  ? None, zero, nada. We need much more exchanges than those 2 in Europe.

And if Gox is bought by some knowledgeable people it will be just like a new exchange, it won't have anything to do with the old management, so you all don't have to be so afraid.

Is this a joke? Mtgox is dead. Second Market is coming to the game with an exchange based in NY that can handle millions of trades a second.. This is game over... Anyone who lost BTC @ Gox needs to realize this and move on. Yes go after mark in the legal sense but that's about it for gox and the coins.. There gone.

The new investor who want to bid on Mt Gox of course don't reward a failure. They just see an opportunity from this failure company.

Re: Save Gox
---------------

Lesson #1:

 Never Reward Failure.


Lesson #2:

 Mt. Gox is ruined.


Lesson #3:

 Those bidding a lone 1 btc for Mt. Gox are simply vulture parasites.



The most important lesson:

 Real capitalists never reward failure, let alone fraud with failure.
=========================================



The Last Lesson here:

 The only other valuable asset left at Mt. Gox is the mailing list of customers.

 The parasites bidding a lone 1 btc for Mt. Gox desire that mailing list
and could care less about the rest of Mt. Gox. Their simply scammers.
Above all else they want the sole rights to that mailing list for next to
nothing at all (in this case 1 single bitcoin).


 Anyone wanting to 'save Mt. Gox' isn't a Capitalist at all.
====================================


 It's assets (the mailing list) needs to be auctioned off. And the rest of
it liquidated.

 In real capitalism the strong hands take over after the weak hands fail.
The western world used to operate that way until the parasites and
maggots fully hijacked and compromised the western world.

 Sadly a generation is now being taught to reward failure after failure
mixed with fraud after fraud.


 How dare you behave like a bailout queens while scamming up yet
another scam!

 NEVER REWARD FAILURE.

 Repeat after me:

NEVER REWARD FAILURE.

 Only Losers Crooks, and Parasites demand to reward failure.


 
Caveat emptor

Hope that it will be sold all in Bitcoin and all goxed customer paid in Bitcoin.

Even if there is a liquidation, anyone can come along and buy the name, user list, domain, logo, website, code, etc... and I suppose Bitcoin, and restart a new company with everything in tact except the debt. There are probably limitations on who can buy it. For example, Mark would not be allow to purchase it.

There are assets there and they do have value. The question is, "how much?" This will largely depend on the value of Bitcoin itself.

Ok but it's not like he can just run out and exchange them for fiat and run to Argentina. If he could even dump that kind of coin somewhere it would return the price of Bitcoins to a penny. To slowly dump that many coins he will need to slowly trickle them out over many years and by then something else will happen to him. Did you see the pictures of the protesters in front of his building? If there are people willing to spend their time and money to protest. He needs to worry about people willing to spend their time and money on more than just protesting. I don't think this is going to end well for him and I'm not talking about a criminal case. I wonder if any of those coins belonged to the Russian mob or a drug cartel?

Is there any chance this community will govern itself?

Karpeles was fired several days ago, when the court-appointed supervisor took over. As the court-appointed administrator put it, "The representative director of the Company has lost his authority to administer the Company’s assets pursuant to the order for provisional administration." When the bankruptcy trustee takes over, there will be an audit. That's standard.

mark has still not filed for bankruptcy. he is sitting on millions in fiat in japan just lulzing at all of us suckers.

Let's see if we can somehow get you on the jury. lol

Even if it's just civil it doesn't mean it cannot turn into a criminal case.
If there's enough evidence to believe that he was trying to conceal evidence or criminal activity then he could be convicted.
And IMO the mere fact that he claimed a hacker sneaked into the server and heisted 850k BTC and then weeks after 200k BTC suddenly appear out of nowhere is enough evidence to prove he was lying all the way.

The best thing that can happen is he will be removed from the oversight of the company or the company will be liquidated to settle debts. The settlement liquidation in most US cases is pennies on the dollar with largest creditors reaping the highest reward. It will be interesting to see how the government determines who is owed in a Bitcoin case. I bet the presiding magistrate is thinking, "Could my luck get any worse. How did I get stuck with this case."

It is just civil as he wont do an audit.