4 ms·

So, if you buy bank shares today and it turns out the bank has been insolvent for 2 years already and management was hiding this from investors, this is totally

So, if you buy bank shares today and it turns out the bank has been insolvent for 2 years already and management was hiding this from investors, this is totally fine, as long it's not an established bank but a "startup" bank, am I understanding you correctly? Mark was in way over his head but nobody says he should be jailed for being in way over his head. He should be jailed for defrauding people. He cooked the books and he hid the fact that MtGox was insolvent practically from the moment he bought it.

zubairq 8y ago
You may be right, I don't know. I will probably have to wait until some good unbiased sources explain how the whole thing unfolded from start to current day. I've been wrong before, and maybe I am this time too, but right now I give Mark the benefit of the doubt until I am sure And yes, I did lose money from insolvent banks too in the 2007 - 2008 Financial Crisis, and no one went to jail for that either, even though they hid information from investors and depositors... but that is partly why I was interested in Bitcoin in the first place...
- pakitan 8y ago
  Kim Nilsson's work is as good and unbiased as it comes and it pretty much explains everything you need to know about the missing coins: https://www.youtube.com/watch?v=l70iRcSxqzo https://www.youtube.com/watch?v=l70iRcSxqzo https://blog.wizsec.jp/2015/04/the-missing-mtgox-bitcoins.html https://blog.wizsec.jp/2015/04/the-missing-mtgox-bitcoins.ht... Btw, with your 350 coins, I hope you've already submitted a claim and are planning to vote on the upcoming Civil Rehabilitation plan.
  - zubairq 8y ago
    Thanks, I'll check out those videos, and the claim stuff.
smokeyj 8y ago
Comparing Magic The Gathering Online Exchange to an FDIC regulated bank.. He was running the equivalent of a fraudulent trading card ring that happened to become very valuable. Mark has some of my coins and I think he's done enough time. Prison in general is cruel and unusual for anything besides violent offenders.
- bdcravens 8y ago
  When Mark started running it it was a Bitcoin exchange. Everyone banters about the origins of the name, but all they really did was reuse a domain name.

zubairq 8y ago

You may be right, I don't know. I will probably have to wait until some good unbiased sources explain how the whole thing unfolded from start to current day. I've been wrong before, and maybe I am this time too, but right now I give Mark the benefit of the doubt until I am sure And yes, I did lose money from insolvent banks too in the 2007 - 2008 Financial Crisis, and no one went to jail for that either, even though they hid information from investors and depositors... but that is partly why I was interested in Bitcoin in the first place...

pakitan 8y ago
Kim Nilsson's work is as good and unbiased as it comes and it pretty much explains everything you need to know about the missing coins: https://www.youtube.com/watch?v=l70iRcSxqzo https://www.youtube.com/watch?v=l70iRcSxqzo https://blog.wizsec.jp/2015/04/the-missing-mtgox-bitcoins.html https://blog.wizsec.jp/2015/04/the-missing-mtgox-bitcoins.ht... Btw, with your 350 coins, I hope you've already submitted a claim and are planning to vote on the upcoming Civil Rehabilitation plan.
- zubairq 8y ago
  Thanks, I'll check out those videos, and the claim stuff.

smokeyj 8y ago

Comparing Magic The Gathering Online Exchange to an FDIC regulated bank.. He was running the equivalent of a fraudulent trading card ring that happened to become very valuable. Mark has some of my coins and I think he's done enough time. Prison in general is cruel and unusual for anything besides violent offenders.

bdcravens 8y ago
When Mark started running it it was a Bitcoin exchange. Everyone banters about the origins of the name, but all they really did was reuse a domain name.