Willy was used to Launder Bitcoins, not drive price up.

ShakyhandsBTCer

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Quote from: moriartybitcoin on May 27, 2014, 03:25:33 PM

Karpeles stole those Bitcoins. No questions about it. He's as crooked as they come and I'm surprised he's not locked up yet.

I would consider this speculation.

I would consider Karpeles an idiot but I am not 100% sure about being a thief.

I do find it disconcerting that he tried to sell his discounted coins on other exchanges via arbitrage prior to GOX's collapse.

master-P

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Quote from: alani123 on May 27, 2014, 01:37:30 PM

We should'nt really discredit him just because of his trust. To me everything is possible with Mt.Gox.

A company that bit doesn't go bankrupt that easily. It maybe was Mark's bad managment but do you think that there wouldn't be someone there to advice him? Maybe he was trying to put blame on his "bad managment" by going public couple of times and wanting to show off a face persona to outshine the possible huge frauds that were going on under the name of Mt.Gox and made it go bankrupt.

But again, speculation.

According to the articles that I read after the Gox bankruptcy, Karpeles didn't trust any of his employees with the private keys of the cold storage wallets, which he kept locked in a safe at home. He was also spending most of his time coming up with cake recipes for his bitcoin cafe and worrying about his burgeoning waistline. At least that's what some of his former employees stated...

BitDreams

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Quote from: Beliathon on May 27, 2014, 01:38:35 PM

Quote from: Polycoin on May 26, 2014, 12:01:24 PM

This Bullrush can indeed happen again without the trading bot/Willy.[/b]

Will. It will happen again. In fact, we are already overdue for an upward market correction.

Thank you for the chart.

obit

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Is this related to the new biggest bitcoin wallet?

Cryptopher

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Keep it dense, yeah?

Quote from: Beliathon on May 27, 2014, 01:38:35 PM

Quote from: Polycoin on May 26, 2014, 12:01:24 PM

This Bullrush can indeed happen again without the trading bot/Willy.[/b]

Will. It will happen again. In fact, we are already overdue for an upward market correction.

You can't say that it will happen again according to the extrapolation highlighted in the graph you posted. It could happen, sure, it cover move faster, it could move upwards very slowly etc.

Regarding the OP, I don't think that you can say that just because other exchanges didn't demonstrate the behaviour like that of Willy means that Willy wanted inadvertently driving up the price. Gox was the focus for a lot of news sources and the go-to exchange for the price of Bitcoin. Of course it encouraged other exchanged to follow suit.

moriartybitcoin

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Karpeles stole those Bitcoins. No questions about it. He's as crooked as they come and I'm surprised he's not locked up yet.

Beliathon

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Quote from: Polycoin on May 26, 2014, 12:01:24 PM

This Bullrush can indeed happen again without the trading bot/Willy.[/b]

Will. It will happen again. In fact, we are already overdue for an upward market correction.

alani123

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We should'nt really discredit him just because of his trust. To me everything is possible with Mt.Gox.

A company that bit doesn't go bankrupt that easily. It maybe was Mark's bad managment but do you think that there wouldn't be someone there to advice him? Maybe he was trying to put blame on his "bad managment" by going public couple of times and wanting to show off a face persona to outshine the possible huge frauds that were going on under the name of Mt.Gox and made it go bankrupt.

But again, speculation.

juju

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The real question for someone to answer is where the laundered coins were coming from in the first place? Which Address/es were sending the coins to the trading bot on MtGox?

Balls

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I wouldnt call Mark a genius but he's not stupid either. I think he's going to have to answer a lot of questions soon though and I dont think the outcome will be pretty.

Polycoin

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Quote from: jackedwhite on May 26, 2014, 10:26:56 PM

Quote from: Silly Money on May 26, 2014, 02:14:12 PM

Quote from: Polycoin on May 26, 2014, 01:37:02 PM

Quote from: Silly Money on May 26, 2014, 01:33:56 PM

How do you know it wasn't using/laundering the stolen coins whilst driving the price up?

That's what it was doing.

To the public eye, it was driving the price up, thought it's intention was to launder/mix stolen bitcoins, presumably from the Silk Road Hacking...

I think there's still a lot what we dont know about the situation. Maybe we never will.

Exactly. We'll never know but we should be aware of how easy it can be to manipulate work it from here On

We'll never know 100% unless the perpetrator speaks out, but money laundering was, I can say with 90% surety, his primary goal.

jackedwhite

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Quote from: Silly Money on May 26, 2014, 02:14:12 PM

Quote from: Polycoin on May 26, 2014, 01:37:02 PM

Quote from: Silly Money on May 26, 2014, 01:33:56 PM

How do you know it wasn't using/laundering the stolen coins whilst driving the price up?

That's what it was doing.

To the public eye, it was driving the price up, thought it's intention was to launder/mix stolen bitcoins, presumably from the Silk Road Hacking...

I think there's still a lot what we dont know about the situation. Maybe we never will.

Exactly. We'll never know but we should be aware of how easy it can be to manipulate work it from here On

Silly Money

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Quote from: Polycoin on May 26, 2014, 01:37:02 PM

Quote from: Silly Money on May 26, 2014, 01:33:56 PM

How do you know it wasn't using/laundering the stolen coins whilst driving the price up?

That's what it was doing.

To the public eye, it was driving the price up, thought it's intention was to launder/mix stolen bitcoins, presumably from the Silk Road Hacking...

I think there's still a lot what we dont know about the situation. Maybe we never will.

helmax

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Quote from: JJB on May 26, 2014, 01:39:50 PM

How do you know they were definitely stolen?

https://blockchain.info/charts/received-per-day?address=1J2N8ULTBcryyeDpQiQiTwwVm2FvvY5USv

Professor Plums

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What's the evidence for the coins being laundered?

JJB

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How do you know they were definitely stolen?

Polycoin

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Quote from: Silly Money on May 26, 2014, 01:33:56 PM

How do you know it wasn't using/laundering the stolen coins whilst driving the price up?

That's what it was doing.

To the public eye, it was driving the price up, thought it's intention was to launder/mix stolen bitcoins, presumably from the Silk Road Hacking...

Silly Money

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How do you know it wasn't using/laundering the stolen coins whilst driving the price up?

Ron~Popeil

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Even it the bull market was a bot it corrected itself. This is a non story imho.

Polycoin

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Quote from: Phinnaeus Gage on May 26, 2014, 12:30:33 PM

Finally, somebody making sense of it all: https://bitcointalk.org/index.php?action=trust;u=255566

"I have several accounts Gage. One of them is a Hero Roll Eyes

I'm not trolling atm and have been monitoring MtGox, Bitstamp, and BTC-E, and with honesty can say that it was a Money Laundering Attempt on MtGox and I personally have never actually taken anyone's Bitcoins and never will, staff can confirm that."

Topic: Willy was used to Launder Bitcoins, not drive price up. (Read 2175 times)