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0 pointsviraptor7y ago0 comments

Are you advocating for debtors prisons? If someone losses money you gave them, would you rather they were in prison, (living from your taxes) or working and repaying?

Also if the bankruptcy proceeds as planned, nobody will lose real money. (Btc sale so far covers all the fiat they owe and a bit more)

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cobythedog7y ago

I did not read the comment as advocating for debtors prisons. My understanding is that those were (are) for individuals who cannot pay a debt. Instead, I assume the parent commentor meant something more along the lines of a Bernie Madoff.

pvg7y ago

There are a lot of ways to go to prison for mishandling other people's money that are not "debtors prison".

shawabawa37y ago

I think he's advocating for prison time for serious fraud - around $450m of assets stolen/lost through incompetence

jerguismi7y ago

The history of mtgox is not that simple and it is somewhat difficult to say who actually was the guilty one. Maybe there was lots of incomptenece involved but I'm pretty sure that also in a situation like that it might be so difficult even think straight.

MtGox was actually developed by Jed McCaleb, and Karpeles (MagicalTux) later bought the business from Jed. At the time of the sale the exchange already had tons of issues and apparently missing 80k BTC. It was perfect timing for Jed, who later started Ripple. For Karpeles the biggest mistake was buying the business. I would consider the latter mistakes only a minor mistakes. I would guess the codebase/security/etc was quite a horrible as well, can't really blame MagicalTux for not managing to save that business.

https://www.newsbtc.com/2016/05/22/mt-gox-a-new-revelation-s...

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