Unilateral Statement Regarding Mt. Gox from an Insider (opens in new tab)

(jesse.forthewin.com)

7 pointssolipsist12y ago6 comments

6 comments

People doing things like covering up an 800k+ BTC theft "for the good of Bitcoin" is what will probably kill Bitcoin in the end. However good your intentions might be, if people can't trust the people running exchanges they won't use Bitcoin services. Doing something dishonest such as covering up a major crime for the "right" reasons is still dishonest. As beneficial as a secure anonymous currency may prove in the future, this debacle just goes to show how important the human factor is, and no amount of clever crypto is going to stop that.

letstryagain12y ago

I can't tell if Karpelès really believes all the nonsense coming out of his mouth or not. Is he really that naive? He lost a decent chunk of a billion dollars but he thinks he can just rebrand and keep the company going? He believes it's better 'for Bitcoin' to keep Gox running even though all the money is gone? He thinks there's still a way out of this mess?

I don't understand how he thinks.

ChuckMcM12y ago

" Obviously, all of that is irrelevant to the guy who just lost his life savings, wondering where he can find a good bridge."

Don't be that guy. Understand that 'life savings' don't belong in anything as speculative as BitCoin or Tech stocks.

andrewcooke12y ago

> thousands of lives have been destroyed

is this sarcasm? i don't understand the tone. that part seems to be sarcastic yet the rest seems to be straight.

hamburglar12y ago

Point 3 in the "plausible scenario" seems obviously bogus to me. If they knew about transaction malleability, they could have addressed it easily the same way the standard client does it, rather than intentionally leaving a gaping hole just so they could have an excuse for insolvency.

ars12y ago

No, the idea is they didn't actually leave a gaping hole - they just pretended they did so they could use it as an excuse, without actually suffering any [additional] loss.

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