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Mt. Gox demise as told by a Bitcoin insider

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Re: Mt. Gox demise as told by a Bitcoin insider

#141

Post by 1996 »

technion wrote: post #115
modeless wrote: post #49

Earlier quoted context omitted.

For those who don't know, MagicalTux is Mark Karpeles, owner and CEO of Mt Gox. Assuming this is his real account. And for what it's worth, I agree that this is a bad article based on what I know about the situation. Bloomberg reporting in general is questionable these days if you ask me. I don't trust them since the false Supermicro hack story (never retracted BTW) and I've seen several other bad stories from them s…

To this very day, the majority of non technical executives having a security conversation raise with me "so we're definitely not using Supermicro right" as their top security concern. It's incredible how much that story managed to achieve.

If they are using Intel (AMT, vPro) or even AMD, or anything that can do DMA without GMU, they are no better than using Supermicro.

Re: Mt. Gox demise as told by a Bitcoin insider

#142

Post by 1996 »

blhack wrote: post #56
xtracto wrote: post #37

Earlier quoted context omitted.

It may be a matter of demographics. Slashdot had the same effect with other new technology (ipod. Less space than a nomad). And Usenet or irc forums were full of people discounting myspace, FB, and other newer technologies. Hacker news has changed a lot since the time I joined. I came from /. And osnews . And initially it was strongly pro business . Now it has became more "liberal " and pro open source.

Curious if you've found a place that feels the way that HN did back then.

If you do, let me know!!

Somedays it really looks like I'm gonna see here AARP ads any time soon!

The community is aging and getting out of touch with the market without even realizing it

Re: Mt. Gox demise as told by a Bitcoin insider

#143

Post by globular-toast »

zoba wrote: post #76
MagicalTux wrote: post #35

Being directly involved in this I'm not going to comment as of the veracity of the article myself, but rather point to a response of when this was posted on twitter (look at the extra responses for some fact checking): https://twitter.com/wizsecurity/status/1355973512012292096

Mark, the security errors in Mt Gox cost me sums of money that would have completely changed the life of myself and my family. Mostly I have moved on from this, but occasionally I multiply my Mt Gox holdings by the current price of Bitcoin and imagine how life could be. I have never heard you express sorrow for the individuals whose lives you so negatively impacted. I have no idea if you have plans to make amends for…

Get over it. You were the one who tried to get rich and failed. Just accept that and move on. Try again if you want to. But don't blame someone else for your risky investments.

Re: Mt. Gox demise as told by a Bitcoin insider

#144

Post by nangz2 »

I am a MtGox creditor and intermittently get offers from Fortress Capital to buy my BTC for some % of its value. I tell them where to stick it.

It now looks like Vessenes is in cahoots with Fortress Capital in an arrangement where they drag out the frivolous coinlab lawsuit which encourages desperate creditors to sell out to Fortress.

Vessenes is really an awful piece of subhuman filth. He has zero claim to anything, but is causing misery to thousands of creditors. I hope all his descendents continue to be aware of this.

Re: Mt. Gox demise as told by a Bitcoin insider

#145

Post by Melting_Harps »

MagicalTux wrote: post #123
gggydf32 wrote: post #101

Earlier quoted context omitted.

So you are commenting on the veracity of the article, then?

I didn't initially, but if you're reading that far in the comments I guess it can't be avoided. People need to know what CoinLab is trying to do.

> I didn't initially, but if you're reading that far in the comments I guess it can't be avoided. People need to know what CoinLab is trying to do.

Mark, for all the controversy surrounding your case and the obscene level of malice in the Japanese court system, reflected in its conviction rate, do you think there will ever be a way for you to tell your side of the story at length? Like a series of long format podcasts with a break down of the day by day, week by week kind of format?

Are there gag orders or something like that until the matter is resolved?

Because there are still so many questions left unanswered, I'm still wondering to this day who or what was behind that that 'Muscle group' thing offering to pay xx cents on the dollar per outstanding Bitcoin/fiat locked up on Gox. I always felt it was some of the members of The Foundation wanting to capitalize on the seizure of the funds and eventual reconciliation--which still has not happened.

I'd rather keep our old school Bitcoiner-style banter out of this on HN, rare for someone like me given my post history, because I honestly think you should really reach out to someone here with an independent media platform to get the ball rolling on being able to get your side of the story out there.

It's one that did put is back as a Community, Platform and Network many years, but it also showed just corrupt the legal systems is in many countries (US/Japan) and how they operate to what length they will go to get a conviction and 'settle' a matter to move on and try to contain a technology they entirely disregarded a year or two before.

The crazy thing is how much deeper it all goes and certainly has all the elements of a series of movies (at least a trilogy) if someone wanted to make it a script: DPR/Ross Silk Road case, those 2 Feds who stole the BTC, BTC-e seizure, Alexander Vinnik arrest in Greece alleging to be behind the MTGOX hack(s), variety Jones's arrest in Thailand. Not to mention guys like Gonzog, or Ver...

Honestly, after 10 years in Bitcoin its why I can't find or get excited about 95% of most movie, gamess or TV shows anymore. Nothing beats that last decade in Bitcoin, its been an amazing but incredibly wild ride!

Sidenote: Sorry to hear about all your troubles, our tempers flared and things got out of hand as a community (myself included) back then; but I want you to know that no one deserved what happened to you and your family--I also have friends in the BTC community that went to jail/prison due to State overreach, many of them irreparably scarred from it.

You look and seem much more healthy now then back then and I sincerely hope you found a way to make peace with it all and were able to move on with your life.

Re: Mt. Gox demise as told by a Bitcoin insider

#146

Post by xwdv »

downandout wrote: post #111
xwdv wrote: post #104

Earlier quoted context omitted.

I really don't get how someone can casually screw someone out of such vast sums of money and not live in fear watching their back the rest of their life. They must really be confident the individual would remain mentally stable. Not everyone will just walk away quietly and meditate, some people will definitely try to find the best way to put a bullet in your head. If you're going to screw someone, you should at least…

I was very angry at first, but yes, he knew that I was not the type of person that would put a bullet in his head. He didn’t do anything to shift blame - he couldn’t. My name was all over the patents the company held, so he couldn’t deny my participation. He simply stopped talking to me and then used his lawyers to attempt to silence me. Unfortunately, karma just is not a thing. Among more than a dozen homes he owns…

The arc of the moral universe is long but it bends toward justice.

Re: Mt. Gox demise as told by a Bitcoin insider

#147

Post by Kye »

MagicalTux wrote: post #116
gggydf32 wrote: post #103

Earlier quoted context omitted.

Er, Supermicro servers being surreptitiously implanted and installed in customer networks are existentially-threatening allegations against their business. I struggle to imagine what “very bad” would be in your view if that doesn’t rise to the bar.

More than the contents, the impact of the news on business is what would be used to decide. If most people think the news is likely fake there's no point giving extra attention to it by suing for libel. If it has enough impact to bring the company toward bankruptcy it will be an issue. Tbqh I wasn't even aware of that story until now.

https://en.wikipedia.org/wiki/Streisand_effect

I was reminded of this recently by a fursuit company issuing a C&D over an accusation most people had forgotten about, for a tweet that was almost half a year old at that point.

24 hours later, the tweet from the target of the C&D has over 7000 retweets and the response from the company has almost 1400 quote retweets yelling at them. Many of the angry responses have as many retweets as the company's tweet.

Re: Mt. Gox demise as told by a Bitcoin insider

#148

Post by sekai »

chaostheory wrote: post #8

Since we're on the subject, how do people think the Tether situation will play out?

It won't. People were screaming about Tether back in 2017, 4 years, still going strong. Keep in mind, they aren't the only stablecoin in the market now, so even less relevant to the crypto space.

Re: Mt. Gox demise as told by a Bitcoin insider

#149

Post by acct776 »

MagicalTux wrote: post #116
gggydf32 wrote: post #103

Earlier quoted context omitted.

Er, Supermicro servers being surreptitiously implanted and installed in customer networks are existentially-threatening allegations against their business. I struggle to imagine what “very bad” would be in your view if that doesn’t rise to the bar.

More than the contents, the impact of the news on business is what would be used to decide. If most people think the news is likely fake there's no point giving extra attention to it by suing for libel. If it has enough impact to bring the company toward bankruptcy it will be an issue. Tbqh I wasn't even aware of that story until now.

> Tbqh I wasn't even aware of that story until now.

Hopefully your CTO was.

Re: Mt. Gox demise as told by a Bitcoin insider

#150

Post by acct776 »

Kye wrote: post #147
MagicalTux wrote: post #116

Earlier quoted context omitted.

More than the contents, the impact of the news on business is what would be used to decide. If most people think the news is likely fake there's no point giving extra attention to it by suing for libel. If it has enough impact to bring the company toward bankruptcy it will be an issue. Tbqh I wasn't even aware of that story until now.

https://en.wikipedia.org/wiki/Streisand_effect I was reminded of this recently by a fursuit company issuing a C&D over an accusation most people had forgotten about, for a tweet that was almost half a year old at that point. 24 hours later, the tweet from the target of the C&D has over 7000 retweets and the response from the company has almost 1400 quote retweets yelling at them. Many of the angry responses have as m…

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