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Mt. Gox demise as told by a Bitcoin insider

bloomberg.com

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

#51

Post by rasengan »

modeless wrote: post #49
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

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…

It’s real (re account)!

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

#52

Post by Lambdanaut »

wmf wrote: post #50
llamataboot wrote: post #42

Still waiting for the 50 or so BTC I had in MtGox when it disappeared. Think I should get what they were worth then, or what they are worth now :D

Would you prefer 100% of what it was worth then or 23% of what it's worth now?

Why 23%? Seems arbitrary. Is that the amount in BTC that is expected to be paid out to creditors?

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

#53

Post by quickthrower2 »

trixie_ wrote: post #34
matkoniecz wrote: post #26

Earlier quoted context omitted.

> beats other stores of value in almost every metric. Which metrics you selected so crypto beats following in "almost every metric"? - real estate - gold - $ in cash - $ in a bank account - stocks

Metrics as in how easy is it to store and send, how resistant is it to inflation and manipulation. - Land - Can't send it. - Gold - Physical so more difficult to store, secure, send, and verify. - Cash - Easy to manipulate by the government. How many trillions printed for coronavirus? I wouldn't hold too much of it. - Stocks - Cant send it. More shares can be created by the board of directors. Crypto is made to do on…

Well bitcoin in particular but some crypto is inflationary also

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

#54

Post by quickthrower2 »

wmf wrote: post #19
staplers wrote: post #11

It's always amazed me how anti-crypto and behind the times (about bitcoin) this forum has been. Remember your imagination for the possibilities of the early web and computers.

Possibility of the early Web: getting free overnight air shipping on 50-pund bags of dog food. Possibility of cryptocurrency: becoming "fuck you" rich in a year without doing any work. Yeah, you have a point; crypto does have amazing potential.

Ooh I though you were setting up:

Possibility of crypto: getting free overnight air shipping on 50-pund bags of weed

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

#56

Post by blhack »

xtracto wrote: post #37
staplers wrote: post #11

It's always amazed me how anti-crypto and behind the times (about bitcoin) this forum has been. Remember your imagination for the possibilities of the early web and computers.

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.

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

#57

Post by quickthrower2 »

staplers wrote: post #11

It's always amazed me how anti-crypto and behind the times (about bitcoin) this forum has been. Remember your imagination for the possibilities of the early web and computers.

Yeah it’s a collective “just use Rsync” blindness. I think Defi is pretty exciting and once it’s mainstream with more regulated options with KYC and tokens backed by fully audited companies it has some amazing potential.

Also see https://news.ycombinator.com/item?id=26041057 - HN wants it’s mp3s, so why doesn’t it want it’s money?

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

#58

Post by underwater »

trixie_ wrote: post #17
TylerE wrote: post #15

Earlier quoted context omitted.

Bitcoin as had the better part of decade and it's still practically useless in the real world.

Case in point I guess. It is kind of amazing how one of the most important recent technological developments has been written off for more than a decade by the users of this site. Same with TypeScript for a long time as well, and then there was a magical turning point somehow that the entire zerg all of a sudden discovered static typing was actually useful. For one of the best sites for discussing the latest happenin…

TypeScript was about bringing traditional, proven, approaches to a trendy but immature language. That's exactly the opposite of Bitcoin.

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

#59

Post by not_a_moth »

llamataboot wrote: post #42

Still waiting for the 50 or so BTC I had in MtGox when it disappeared. Think I should get what they were worth then, or what they are worth now :D

Same. I remember receiving letters in Japanese at the time of the bankruptcy. I put them on my refrigerator for guests to see because I thought they were amusing. Now it's just depressing to think about.

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

#60

Post by marcolussetti »

koolba wrote: post #47
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

The default twitter algo selection of comments is random gibberish. Anything more specific to point to?

I think he's pointing to the comments by @wizsecurity specifically, in response to the @bloomberg one.
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