My Conversation with Mark Karpeles of MtGox

Wait I am supposed to have sympathy for him?

Nope.

But I do have pity for him. His life is going to be a living hell from now on.

For a very long time.

(Note: Did have 1.5 bitcoins in mtgox account which I assume is now gone. But that's life, and I didn't think I was investing in fucking government bonds or anything safe)
 


Jon, you said in the OP that you didn't own any bitcoin... now after talking to Mark did you change your mind and decide to buy some BTC or no?
 
Wow. I feel kind of bad for the guy, but the one problem that keeps showing up is that he should have got more and better help to help him run the exchange.

How could the transaction problem have gone on for YEARS? Do they have no accounting system?

Did he say he was going to talk with a lawyer for the FIRST TIME tomorrow morning?

The statement on the website right now makes almost no sense.

Why would you confirm a document that is just a draft and says your company lost 400+ million dollars before talking to a lawyer?

He should have been paying for good programmers, accountants, lawyers, etc...

This is so crazy, wow.
 
Not gonna lie... I'm kind of shocked.

It sounds like Mt.Gox was being run like a 5 year old's lemonade stand.
 
r3p1v said:
Wow. I feel kind of bad for the guy, but the one problem that keeps showing up is that he should have got more and better help to help him run the exchange.

How could the transaction problem have gone on for YEARS? Do they have no accounting system?

Did he say he was going to talk with a lawyer for the FIRST TIME tomorrow morning?

The statement on the website right now makes almost no sense.

Why would you confirm a document that is just a draft and says your company lost 400+ million dollars before talking to a lawyer?

He should have been paying for good programmers, accountants, lawyers, etc...

This is so crazy, wow.
Click to expand...

Keep in mind that mtgox was originally designed for trading magic the gathering cards, running a neighborhood card shop and an international exchange are 2 very different businesses and they just weren't ready for it.
 
lol. Coins aren't lost, but we don't have them and don't know where they are. Sure sound lost to me.
 
Thanks Jon for posting this discussion with Mark. It seems MT Gox was actually run like a hobby business and not like a real business which is in my opinion the responsibility of the Bitcoin Foundation.

Also is there actually any entity right now independently auditing Btc actors?
 
Yellow Squash said:
I am new here so dont really know who Jon is, but I like his strategy in this thread.
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rbjjio.jpg
 
Nicely sourced scoop Jon - with the connections we talked about a couple years ago it makes sense that you could get in touch with this guy ;)
 
Fox??

Story?

Its not really even a story its a "could have been a story" story if the subject hadn't wanted to get rid of his cat or wanted to go to bed.

With all these odd threads I think Jon has blown a fuse or something.
 
How on earth this guy ever thought he could run a business with that much money flowing through it is beyond me. Meeting with lawyers for the first time? I`m absolutely stunned by that statement.

Anyway, thanks for posting this Jon (and thanks for trying to get more out of him, even though he wasn`t saying much).
 
Bombastic said:
How on earth this guy ever thought he could run a business with that much money flowing through it is beyond me. Meeting with lawyers for the first time? I`m absolutely stunned by that statement.

Anyway, thanks for posting this Jon (and thanks for trying to get more out of him, even though he wasn`t saying much).
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That part jumped out at me as well. He has lost hundreds of millions for customers and is just meeting with lawyers? LOLWUT?! Does he still think he is dealing in Magic the Gathering cards or something? Reading the threads on bitcointalk makes my stomach ache. There a number of people who literally went from multi-millionaires to broke in an instant and this guy is worried about his cat and getting a little beauty sleep.
 
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