This ridiculous idea that the world can't live without Mt. Gox, which has been clearly communicated in both this document and the previously leaked crisis memo, shows signs of serious narcissism in whomever is behind them. Whatever PR/political damage their crisis has inflicted upon Bitcoin has already been done and could not be reversed even if they were saved. These executives should spend more time trying to find non-extradition countries that will take them and less time living in fantasy land.
I'm sure there are some AG's and Prosecutors frothing at the mouth right now to get there hands on Mr. Karpeles.
Edit: Even if the judicial system doesn't get MK... his life is probably ruined at this point if he cannot recover the funds - either because of reputation or personal safety. Bitcoin is the Wild West and there seem to quite a few shady and nefarious actors within the community.
Their cover up is what will bring legal repercussions.
I haven't followed that closely because I don't particularly care about MtGox aside from popcorn value, but I'm not sure how you would know that from the information that's currently public. As far as we know we kind of think we know the number of bitcoins they lost, but not the amount of cash/btc assets they still have.
Or did I miss something?
http://www.scribd.com/doc/209050732/MtGox-Situation-Crisis-S...
look at the "financial assets and liabilities" section.
32,430,000 usd + 2,000 btc held, vs 55,000,000 usd + 744,408 btc owed.
Hmmmm, it looks like a standard MS Word template, nothing especially polished, nothing anyone with a proficiency in Word could not knock out.
The problem is, it paid off. We've all been saying "Um, maybe doing major financial exchanges with an outfit so unprofessional that they do business under an initialism for 'Magic: The Gathering Online Exchange' isn't such a great idea." And now it turns out we were 100% right. So...there's no joke anymore. It's just historical fact now.
of course this whole thing creates a loss of faith in the exchange, but if they somehow restored all the accounts I bet people would be willing to forget about it pretty quickly..
I, however, believe that to be unlikely given their response to the situation.
And I see no way to silence it or close it.
Also, you can only really take a gods name in vain if you happen to believe in that god, otherwise it is merely a culturally acquired exclamation. If I say "By Zeus, that bathwater is hot.", I am not being blasphemous unless I believe that Zeus exists.
> 2.6 Key to Success
> Security: MtGox has a solid IT infrastructure, protected from DDOS attacks and hackers by a number of security providers and we continue to develop several customized security features for customers in order to protect their account.
> Speed: MtGox runs an highly efficient trading engine that will compete enormously against the capabilities of our competitors. We will also develop more efficient fund transfer infrastructures to ensure that customers can send or receive money to/from their MtGox accounts within 3 business days.
Outside of that hilarity, this thing seriously is either fake or a scary indictment of the lack of acumen and precision demanded by an organization of this type.
How often does a grunting, surly herd of "male 20-40 year olds, with a deep distrust for established financial systems", organize on your tiny Japanese farm and crap gold nuggets towards each other?
Bitcoin, the Napster of cryptocurrency.
MP3 was "good enough" to revolutionize the way we buy and pirate music. Napster was enabled by MP3 tech, but flamed out spectacularly.
MP3 survived though, and now more music is sold online than in record stores.
>Technical expertise of Mark Karpeles, CEO of Mtgox, as a leader in network security, systems development, and cryptocurrency.
Clearly.
>Mark is a young technopreneur with more than 15 years experience ins oftware development, network administration and entrepreneurship. Mark is well-versed in multiple programming languages, has a strong background in network security, and is well-known in the tech community.
That last part is certainly true now.
They are going to try to use this to peddle security devices? Seriously?
