Quote from: Blitz on March 03, 2014, 08:40:57 AM

Quote from: Rampion on March 03, 2014, 08:27:56 AM

Quote from: jl2012 on March 03, 2014, 08:17:15 AM

Quote from: Rampion on March 03, 2014, 08:06:03 AM

Quote from: Blitz on March 03, 2014, 07:16:38 AM

Lose >99% BTC
Lose >40% fiat
Lose database along with customer identity data

Well, Emptygox couldn't possibly have done a much worse job than this.

The statement is a joke. How come they did not realize until a few days ago that there was a huge discrepancy between the money they were holding in their bank and the money deposited by their customers?

You all know this is BS and simply cannot happen. They knew very well they had less than they were supposed to, they just decided to run on fractional reserve and spent customers money to cover their own operational expenses. I wouldn't be surprised if Karpeles even cashed out dividends at some point while knowing the company was virtually bankrupt.

He doesn't need dividend. Just by insider trading and arbitraging he would have earned a lot.

According to sturle they "didn't need" to run on fractional reserve as they did "so much money" in fees that they could have covered ANY hole caused by seizures, misappropriations and whatnot.

My reply: never underestimate greed and incompetence. Bad management can destroy the biggest company in the world.

Yes, hopefully authorities will do a good job on investigating that angle. It isn't credible that they didn't notice the fiat hole before.

Well, I am probably the least conspiratorial minded bitcoiner in the universe. But there is absolutely zero way that Karpeles is not lying. There is no way MtGox "lost" that much coin. No way, no how.

I assume this man is going to jail. Unless there is some inexplicable explanation that he just hasn't or can't tell us yet, then he has lied and lied and lied and lied and lied over and over and over again.

I think Mark is living and has been living in a state of denial. I do not think he is even being honest with himself. He is living a life of lies at the moment. I think its going to be a long ugly road from here to the truth.