My Conversation with Mark Karpeles of MtGox

[Thorn]

Now people start to dig in the past of Karpeles...

Tibanne Co. Ltd. sentenced in 2013. Mark Karpeles's lies are not new.

 

[groneg]

looks like something's popping off right now? Drama in Ukraine causing this?

 

[Thorn]

if you buyed yesterday you was able to make 20% win in 24h. Thats cryptos.

 

[r3p1v]

If you bought Auroracoin yesterday you made like over 100%

 

[r3p1v]

My guess is that the recent price jump is due to the fact that people are realizing that the Mt Gox situation isn't going to have a huge impact on the price.

 

[cassius]

Stability lol

 

[kasher9]

Weren't all MtGox accounts recently hacked a month or two ago, or is everyone forgetting that? There was a Reddit thread about it, and lots of people popped in with comments like, "I signed up 6 months ago, never used the account since, then all of a sudden got an e-mail saying I successfully logged in".

I believe they were. I get that he's not a businessman but seriously? One does not simply screw up like this

 

[mituozo]

My guess is that the recent price jump is due to the fact that people are realizing that the Mt Gox situation isn't going to have a huge impact on the price.

Yeah, there's been some good news like this, too: Britain preparing to end plans to tax Bitcoin trading - FT | Reuters

 

[Jameel]

probably stored the cold storage on a usb drive and left it at a coffee shop

most likely

 

[Kiopa_Matt]

I believe they were. I get that he's not a businessman but seriously? One does not simply screw up like this

Especially considering it appears the hackers were able to get the user passwords in plain text. That means they were stored using two-way encryption (or worse -- in plain text), and that's a big no-no for user passwords.

There's no reason for two-way encryption on user passwords. Then considering people use the same e-mail address and passwords across lots of sites, well, yeah...

 

[microphone head]

HM Revenue & Customs: Revenue & Customs Brief 09/14

Yep - We won't pay VAT on any of over here... Yay!

 

[User9364]

Yeah, there's been some good news like this, too: Britain preparing to end plans to tax Bitcoin trading - FT | Reuters

The British support for the currency comes days after...

Is that really "support?"

I wonder if taxing it makes it "legitimate" and they've been asked not to do so. I'm going to draw a parallel between this and country sovereignty. The only thing that makes a nation legitimate is other nations recognizing it as legitimate. This is also true with currencies to an extent. (but with people.)

What other reason would they have for not taxing bitcoin? I'm sure they don't actually give a shit about "supporting" currencies. I'd imagine they tax forex gains, right?

 

[lukep]

Pretty ignorant to think that what happened at MtGox won't have a negative influence on the average guy's opinion about BTC.

Just like every other market, it's the perception of the masses and their subsequent investments that make or break it. LukeP's are few and far between.

I'm simply calling bullshit to your claim that MtGox going down shines a positive light on bitcoins RIGHT NOW.

I agree, the stock market crash of 2009 did the same thing with retail investors, they stayed out of the market for 4 years. Bitcoins which are not as common as stocks in the mainstream may never catch on because of Mt gox

Are we learning anything yet?

If not, let me summarize the larger lesson for you...

Last year, the only thing the public at large had been fed about bitcoin was that it was used for dirty drug dealers on something called the Silk Road. The Media fed them their view of bitcoin.

On October 1st 2013, the FBI raided Silk Road, removing it, and that made bigtime headlines, that sound pretty much exactly like what you heard a few days ago... How could bitcoin survive???

The price jumped quite a lot in the coming days because the same public at large learned that bitcoin survived it.

The same thing happened this week folks. I think this is just the start of a larger growth pattern.

The Crimean war will likely help the price too... It's an excellent time to buy.

 

[Thorn]

The 1d MA's (moving averages) on nearly every chart is turning up now, even still crossed down. If they come up and cross over (in fact a bit before because they lag and there is PNR where they will cross even the prices already turned) it will start to go up heavy.

Last time they crossed up was before their ATH and in early january, as btc reached shortly 1000 again before it got crashed by the ongoing china problems.

 

[r3p1v]

Is anybody watching AuroraCoin?

The mining pools are producing almost no coins... Which means that the supply is going to be low... Which means the price could continue to shoot up.

 

[mpbiz]

Is anybody watching AuroraCoin?

The mining pools are producing almost no coins... Which means that the supply is going to be low... Which means the price could continue to shoot up.

Nope. Busy doing real things in real life that make real monies #lulzcoin

 

[Unarmed Gunman]

Is anybody watching AuroraCoin?

The mining pools are producing almost no coins... Which means that the supply is going to be low... Which means the price could continue to shoot up.

AuroraCoin blew past Litecoin in total market cap, for whatever that's worth.

 

[r3p1v]

^ I don't think the full supply for auroracoins are out there yet though. So once it's released in Iceland, the price might fall.

 

[Gambit]

Is anybody watching AuroraCoin?

The mining pools are producing almost no coins... Which means that the supply is going to be low... Which means the price could continue to shoot up.

Its 50% premine.

I know they say all of that is going to Iceland... but I mean whats really stopping them from selling off 10% or so? Its like a time bomb IMO.

 

[r3p1v]

Each person in Iceland will get 31.8 auroracoins?

Lol, that's currently worth $2,258 USD.