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Bitcoin kingpin: All of your money is GONE. Ooops, my bad!

Hotlantan

Hotlantan

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Bitcoin Kingpin Admits Everyone's Money Is Gone

Japan-based Mt.Gox CEO Mike Karpele—who may or may not be Chris Farley reanimated with the soul of Reddit—just copped to some very bad news: yes, he lost all your money.

We still don't know why all the money is gone, or where it went, but a combination of theft and titanic incompetence is likely. The bottom line of anyone who used the Mt.Gox exchange: your account balance is now zero.

But at least we know Karpele hasn't fled the country, yet. AFP reports Mt.Gox is doing more than just bowing with shame: the virtual currency exchange is bankrupt, and is seeking court protection accordingly. Funny, how these people only want anything to do with the government after they've fucked themselves over into another dimension. That dimension is filled with dreams of Kickstarter projects backed with internet money, Dorito-crusted sushi, Doge posters, and now lots of shame and backtracking.

 
"all your money is gone.....im still ballin.....thank you......goodbye."

i had to sum up his statements.
 
I've come to the realization that it's a large, anonymous Pyramid scheme making few happy, with the potential to screw most.
 
:lol:

It's the wild, wild, wild, wild, wild, fucking west when it comes to crypto right now. Only buy in with money you can afford to lose. Of that, only keep shit on exchanges that you are willing to lose at any time. Don't use exchanges as fucking personal wallets. The same shit has been said time and time again.
 
gene cisco said:
:lol:

It's the wild, wild, wild, wild, wild, fucking west when it comes to crypto right now. Only buy in with money you can afford to lose. Of that, only keep shit on exchanges that you are willing to lose at any time. Don't use exchanges as fucking personal wallets. The same shit has been said time and time again.
Click to expand...


I've heard time and time again that you should build your downline, forget chasing the "Warm Market" also known as family and friends, work hard, and you too can make money at MLM. That does not make it trustworthy as a means of support. Essentially, you get paid by screwing someone.
 
:lol::lol::lol::lol::lol::lol: Yo someone just recently made a thread about that bitcoin shit being a scam. Props that poster. It may even have been the OP of this thread.
 
That motherfucka watched tha wolf of Wall Street and did all types of drugs before he came out and said all that bullshit.
That smirk on his face is of one who has dreams of having his own movie about his worldwide exploits fucking stupid people over.
 
older version said:
I've heard time and time again that you should build your downline, forget chasing the "Warm Market" also known as family and friends, work hard, and you too can make money at MLM. That does not make it trustworthy as a means of support. Essentially, you get paid by screwing someone.
Click to expand...

The game is still so young. That's why people keep getting burned. Is the game being abused by the pump and dump? Of course. But crypto has a legit purpose and needs to grow to stabilize. It needs more infrastructure. It needs clear tax regulations.

People are trading in alts most people never even heard of. It's far from MLM.

As I always said, it has to be more humanoid proof before mainstream adoption. Government will see to that by controlling entry and exit points.

Have you ever used any crypto in a transaction?
 
Why save your coins in an online wallet?
That's trusting someone you don't know to safeguard your money.
 
On 7 February 2014, all Bitcoin withdrawals were halted by Mt. Gox. The company said it was pausing withdrawal requests “to obtain a clear technical view of the currency processes”. The company issued a press release on February 10, 2014 stating that the issue was due to transaction malleability: “A bug in the bitcoin software makes it possible for someone to use the Bitcoin network to alter transaction details to make it seem like a sending of bitcoins to a bitcoin wallet did not occur when in fact it did occur. Since the transaction appears as if it has not proceeded correctly, the bitcoins may be resent. MtGox is working with the Bitcoin core development team and others to mitigate this issue.”
 
Hotlantan said:
Bitcoin Kingpin Admits Everyone's Money Is Gone

Japan-based Mt.Gox CEO Mike Karpele—who may or may not be Chris Farley reanimated with the soul of Reddit—just copped to some very bad news: yes, he lost all your money.

We still don't know why all the money is gone, or where it went, but a combination of theft and titanic incompetence is likely. The bottom line of anyone who used the Mt.Gox exchange: your account balance is now zero.

But at least we know Karpele hasn't fled the country, yet. AFP reports Mt.Gox is doing more than just bowing with shame: the virtual currency exchange is bankrupt, and is seeking court protection accordingly. Funny, how these people only want anything to do with the government after they've fucked themselves over into another dimension. That dimension is filled with dreams of Kickstarter projects backed with internet money, Dorito-crusted sushi, Doge posters, and now lots of shame and backtracking.

Click to expand...



Ok, most of the recent articles have the name of this bootlegger as 'Mike Karpele'.


In articles from a few years ago, he's 'Mark Karpeles'.


Sounds like this shady character switched things up a bit to cover his fuckery.
 
Last edited:
Where is the mutha fucka that was arguing with me about bitcoin being just as real as gold or silver?
Come on in here!!!

:lol:

you-got-fucked.jpg


Y'all trust these white folks/jews with your hard-earned money.

and...ITS GONE!
 
Dude was way in over his head...people forget that MtGox was originally setup to trade Magic The Gathering trading cards. Converting that over for trading financial transactions of millions and millions of dollars was bound to fail especially if no one knew much of what was going on.

Thats why you keep your coins in your personal wallets.
:smh:
 
godofwine said:
Damn I'm glad I didn't get into bitcoins
Click to expand...

Don't let this deter your from learning about bitcoin(and Bitcoin the protocol) and other cryptocurrency. It was one fucking exchange that people knew was having problems for the longest(before the huge increase in price late last year).

You can get coins through other exchanges(coinbase) or do so anonymously at a place like Localbitcoins(don't know how long they will last, government already setting up sting ops). Keep your coins in your own personal wallet and you won't have any problems.

This shit is still in its infancy. Think the Internet in 1995.
 
gene cisco said:
Don't let this deter your from learning about bitcoin(and Bitcoin the protocol) and other cryptocurrency. It was one fucking exchange that people knew was having problems for the longest(before the huge increase in price late last year).

You can get coins through other exchanges(coinbase) or do so anonymously at a place like Localbitcoins(don't know how long they will last, government already setting up sting ops). Keep your coins in your own personal wallet and you won't have any problems.

This shit is still in its infancy. Think the Internet in 1995.
Click to expand...

This depends on the Internet and augments methods already out there.

Other than speculation (mining) or trading anonymously (which can be done with Webmoney or Visa gift cards), why would one do this?
 
:lol: Must feel like this right about now.


<a href="http://pimpandhost.com/image/28584314-original.html"><img src="http://ist1-1.filesor.com/pimpandhost.com/1/1/0/2/110204/1/V/W/5/1VW5k/tumblr_mnzb7bwq2c1qdj7kyo1_500.gif"/></a>
 
older version said:
This depends on the Internet and augments methods already out there.

Other than speculation (mining) or trading anonymously (which can be done with Webmoney or Visa gift cards), why would one do this?
Click to expand...

As you said, more people are valuing their privacy. That's not a bad thing. Cryptocurrency is one way people can have more security and privacy. Who says there only has to be gift cards for that purpose?

It can also be used as a relatively instant method to transfer value. Large fees can be avoided. I can instantly send value to any person with a wallet in the cryptocurrency that I have.

Businesses save on processing fees. The risk is taken on by services such as Bitpay and Coinbase.
 
most US customers didnt use mtGOX.

since they didnt do USD exchanges.



so most of us was not affected.
 
When FPGA/ASIC scrypt miner gets in the 100MH/s+ range, the right coins are going to make some folks rich. It's a risk you take in a emerging market. If you make a good choice, you are a millionaire.
 

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