My Conversation with Mark Karpeles of MtGox



Incredible as the facts come out seeing that this multi hundred million dollar company was run with less professionalism and organization than some of you run your adsense sites with. From the chat log and pdf doc it seems pretty obvious that Mark Karpeles hasn't got a fucking clue what he's doing. If the rest of the cryptocurrency platforms are run anything like MtGox is this ship is going to sink real fast.
 
SethH said:
Incredible as the facts come out seeing that this multi hundred million dollar company was run with less professionalism and organization than some of you run your adsense sites with. From the chat log and pdf doc it seems pretty obvious that Mark Karpeles hasn't got a fucking clue what he's doing. If the rest of the cryptocurrency platforms are run anything like MtGox is this ship is going to sink real fast.
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Come on, it shows the opposite. Bitcoin was able to gain this much market traction and use under a magic the gathering hobbyist. Imagine what it could do with some real biz power behind it.

The problem is the same as it has been, do smart hands really want to get involved with the Gov looming around the corner. Until potential Gov involvement is more clear, bitcoin will be run by kids willing to take the risk (or simply unaware of the risk).

It's a lot like the marijuana market. It takes awhile for smart money to get involved, because smart money is weary of risks.
 
What I find funny about the whole situation is that fans of bitcoins claim that one of the benefits is that is unregulated but when shit hits the fan the first thing they do is run to regulator.

Investors with funds tied up at Mt. Gox are looking for guidance from local authorities on how to get their bitcoin back, but without success, highlighting the regulatory vacuum in which the bitcoin exchange operates in Japan.
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Japan's Authorities Decline to Step In on Bitcoin - WSJ.com
 
p0ck3taces said:
Come on, it shows the opposite. Bitcoin was able to gain this much market traction and use under a magic the gathering hobbyist. Imagine what it could do with some real biz power behind it.

The problem is the same as it has been, do smart hands really want to get involved with the Gov looming around the corner. Until potential Gov involvement is more clear, bitcoin will be run by kids willing to take the risk (or simply unaware of the risk).

It's a lot like the marijuana market. It takes awhile for smart money to get involved.
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True. The big smart money is already coming here though:

Andreessen Horowitz Invests $25 Million in Bitcoin Wallet Coinbase - Jason Del Rey - Commerce - AllThingsD
 
I bet Mark Karpeles is just sitting back and counting his money.

jonah-falcon+(1).jpg
 
Don't worry guys.

Mark is hard at work hunting down the ninjas that swiped your bitcoins.

IMAGE_076.jpg
 
I honestly do feel a little bad for the guy, he was clearly an inept coder/businessman who lucked out and struck gold at the right time.

xMeW43a.jpg


Unfortunately the media is taking a huge shit on the entire crypto industry right now because of this situation- it's going to be that much harder to convince the public at large to invest or accept bitcoin :P

The really sad part is that it's not a flaw in the bitcoin protocol itself, but it's being portrayed that way.

btw, congrats on fox business jon, pretty cool.
 
bizzykehl said:
I honestly do feel a little bad for the guy, he was clearly an inept coder/businessman who lucked out and struck gold at the right time.

xMeW43a.jpg


Unfortunately the media is taking a huge shit on the entire crypto industry right now because of this situation- it's going to be that much harder to convince the public at large to invest or accept bitcoin :P

The really sad part is that it's not a flaw in the bitcoin protocol itself, but it's being portrayed that way.

btw, congrats on fox business jon, pretty cool.
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Do you faggots even fact check anything before you post here?

Mark and crew bought MtGox from the original developers in 2011. That account is not him.

You stole this from reddit here and didnt bother even reading the comments.

Bitcointalk user mtgox = McCaleb
Bitcointalk user MagicalTux = Karpeles

DERP DERP DERP HERP
 
This was passed to me from someone credible on IRC. My bad. Won't let me edit the post. Dammit. Woops.
 
Thorn said:
He is dead in that business. He even stays better at home the next time. I chatted with people who lost >$1 million dollars so far and these people are angry. Very angry.
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The people who sunk >$1M into BTC bought themselves some invaluable educations on the risks in securities markets.

Thorn said:
That is the same thing over and over. Complete bullshit, complete stupidity. How can you act more stupid?
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Maybe by putting millions of dollars (means actual money) into a system they do not really understand?

Good luck bros!
 
As i said:

Reuters: "Japan authorities looking into closure of Mt. Gox bitcoin exchange"
http://www.cnbc.com/id/101446338

"At this stage the relevant financial authorities, the police, the Finance Ministry and others are gathering information on the case," Yoshihide Suga told a regular news conference when asked about Tuesday's shutdown of the Tokyo-based exchange.

That's a very high level for this to be handled at. Chief Cabinet Secretary Suga is second in command to the Prime Minister of Japan.
For Suga to make that statement is a huge deal. That will be interpreted at all the relevant ministries as "get to the bottom of this and fast".
 
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