Post
Topic
Board Exchanges
Re: MtGox withdrawal delays [Gathering]
by
rpietila
on 14/02/2014, 16:12:41 UTC
This is a customer service, presented by a CEO of a company that some few exotic bitcoiners defend and promote. It's not fake, it's real:

https://www.youtube.com/watch?feature=player_embedded&v=ob9Ak1t09Ao

Considering that this thread used to be important info source (given total and utter lack of honest communication from Gox side), I plead the forum administration to impose a minimum 3 months account in order to post here. This trollflood restricts quality posters because they don't want their valuable posts to be flushed down with the turds.

It is interesting the goxBTC is trading at only 50-60% of bsBTC. Have you thought about the following scenario:

It makes sense for Gox insiders to sell, because they know whether Gox will go belly up or not. If it is scheduled to go belly up, they have stolen all the actual BTC there long in advance. What they are selling is Gox IOU's for BTC that they exchange for Gox IOU's of dollars.

When the bankruptcy is executed, the BTC IOU's are assigned fiat value according to the day of bankruptcy. So the cheaper they can push them, using all the methods available, the less they owe. Legally, Gox can pay all that is owed, but the 2 years the court process takes, makes all the difference on who holds the goodies in the end.

If for example, BTC1,000,000 was owed (amount can be even larger - my personal high point was about BTC7,000 in Gox last year, and I am some sort of knowledgeable about Bitcoin services compared to many large holders that I know), and the price is $200, the principals can appease their conscience by paying $200 million. It is not inconceivable that BTC = $100,000 by then, which means that they have completed a heist worth BTC998,000 with incalculable fiat value, because such stashes are not for sale.

It is unlikely that Mark could be the mastermind..

The price of liberty is eternal vigilance.