I want to know the whole truth right away, but...
Instead we get to wait, and wait, and wait.
Topic: The MtGox Mexican Standoff (Read 804 times)
You know, mixing popular and strong labels like "Silk Road", "FBI" and "Mt.Gox" together doesn't turn every ideas into theories.
Otherwise, I might would not find it impossible if that old 424.2424 Mt.Gox solvency proof transaction used Silk Road coins.
Otherwise, I might would not find it impossible if that old 424.2424 Mt.Gox solvency proof transaction used Silk Road coins.
According to this site, leaked documents are showing a "Silk Road Holdings" is interested in purchasing MtGox.
http://www.goxdox.org/
The MtGox debacle just continues to appear to be a three-way political war between Silk Road, MtGox (and the deeply imbedded Bitcoin Community), and Governments (US, Japan and probably more).
Here is a theory:
In the early days, Silk Road and MtGox had a mutually beneficial agreement where Silk Road shared funds with MtGox in some capacity. This would have the effect of giving MtGox the scale to allow Bitcoin to be highly liquid, and give Silk Road users the ability to mix their Bitcoin and make them untraceable. However, the "untraceability" only works if MtGox keeps their black box closed.
Well, a couple years later, early adopters of the general public come along and show interest in Bitcoin and the market cap begins to grow and various officials in world governments take notice. Now, entities like the United States FBI chase down Silk Road and begin following Bitcoin trail back to who knows what.
The question remains, who controls the coins?
If MtGox controls the coins, then Karpeles and Co. are likely trying to protect Silk Road users (and the MtGox entity) from having Bitcoin completely seized (or returned if seized already) by "disassociating" itself from Silk Road to prevent seizure of assets. Government officials run the risk of making a highly public political mistake by seizing honest coins. (FBI is already being sued by Legal users of Silk Road: http://www.forbes.com/sites/andygreenberg/2014/01/31/silk-road-vendor-filing-claim-for-seized-bitcoins-argues-he-sold-only-legal-items/). Silk Road had a much worse reputation than a simple trading platform. Still, government officials need to walk away having accomplished something. To prevent a three way draw, all parties a new company is formed, removing the "Silk Road" liability from the MtGox debacle, and leaving the "war of politics" tied to this new separate entity. All three walk away happy, with new focus of whether or not sex, drugs, and rock and roll (and other questions of morality) should be legal to another battlefield. (Cypress).
If users of Silk Road control the coins, then they could walk away from MtGox, keeping both Silk Road Bitcoin and "Legit" MtGox Bitcoin with them so they remain mixed. Silk Road users keep their anonymity leaving MtGox users high and dry. However, doing so puts Silk Road users at risk of having Mark Karpeles and Co. and other users in the know (Bitcoin Foundation) immediately point the finger at Silk Road users, giving enforcement officers new targets to chase down without much public scrutiny. Again, to break the Silk Road Coin from the MtGox coin, a third company can be introduced, and MtGox can go on claiming the historic transactions are lost - so differentiating the coins is impossible.
As I write this, I see more possibilities as well. Still, this is just looking more and more like a Mexican standoff between MtGox, Silk Road, and various government officials.
http://www.goxdox.org/
The MtGox debacle just continues to appear to be a three-way political war between Silk Road, MtGox (and the deeply imbedded Bitcoin Community), and Governments (US, Japan and probably more).
Here is a theory:
In the early days, Silk Road and MtGox had a mutually beneficial agreement where Silk Road shared funds with MtGox in some capacity. This would have the effect of giving MtGox the scale to allow Bitcoin to be highly liquid, and give Silk Road users the ability to mix their Bitcoin and make them untraceable. However, the "untraceability" only works if MtGox keeps their black box closed.
Well, a couple years later, early adopters of the general public come along and show interest in Bitcoin and the market cap begins to grow and various officials in world governments take notice. Now, entities like the United States FBI chase down Silk Road and begin following Bitcoin trail back to who knows what.
The question remains, who controls the coins?
If MtGox controls the coins, then Karpeles and Co. are likely trying to protect Silk Road users (and the MtGox entity) from having Bitcoin completely seized (or returned if seized already) by "disassociating" itself from Silk Road to prevent seizure of assets. Government officials run the risk of making a highly public political mistake by seizing honest coins. (FBI is already being sued by Legal users of Silk Road: http://www.forbes.com/sites/andygreenberg/2014/01/31/silk-road-vendor-filing-claim-for-seized-bitcoins-argues-he-sold-only-legal-items/). Silk Road had a much worse reputation than a simple trading platform. Still, government officials need to walk away having accomplished something. To prevent a three way draw, all parties a new company is formed, removing the "Silk Road" liability from the MtGox debacle, and leaving the "war of politics" tied to this new separate entity. All three walk away happy, with new focus of whether or not sex, drugs, and rock and roll (and other questions of morality) should be legal to another battlefield. (Cypress).
If users of Silk Road control the coins, then they could walk away from MtGox, keeping both Silk Road Bitcoin and "Legit" MtGox Bitcoin with them so they remain mixed. Silk Road users keep their anonymity leaving MtGox users high and dry. However, doing so puts Silk Road users at risk of having Mark Karpeles and Co. and other users in the know (Bitcoin Foundation) immediately point the finger at Silk Road users, giving enforcement officers new targets to chase down without much public scrutiny. Again, to break the Silk Road Coin from the MtGox coin, a third company can be introduced, and MtGox can go on claiming the historic transactions are lost - so differentiating the coins is impossible.
As I write this, I see more possibilities as well. Still, this is just looking more and more like a Mexican standoff between MtGox, Silk Road, and various government officials.
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