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Mt. Gox CEO Returns To Twitter, Enrages Burned Investors
An anonymous reader writes Mark Karpeles doesn't seem to understand how much anger and trouble the $400 million Mt. Gox fiasco caused his customers. According to Wired: "After a long absence, the Mt Gox CEO has returned to Twitter with a bizarre string of tone-deaf tweets that were either written by a Turing test chat bot, or by a man completely oblivious to the economic chaos he has wrought. His first message after losing hundreds of millions of dollars worth of bitcoins? 'What would we do without busybox?'—a reference to a slimmed-down Linux operating system used on devices such as routers. He's also Tweeted about a noodle dish called yakisoba and Japanese transportation systems." Andreas Antonopoulos, the CSO with Blockchain says, "He continues to be oblivious about his own failure and the pain he has caused others. He is confirming that he is a self-absorbed narcissist with an inflated sense of self-confidence who has no remorse."
We all know after any wrong doing, a person must offer up at least three goats to the Social Justice Warrior spirits in order to quench their bloodlust.
"Sorrow is better than laughter, for by sadness of face the heart is made glad." [Ecclesiastes 7:3]
Man who quite obviously ran an elaborate scam and legally (as far as I'm concerned) stole money from a bunch of morons and suckers is a narcissist and sociopath. Are we supposed to be surprised?
This guy is like people who rob little old ladies and see nothing wrong with it.
It's not an operating system.
I mean, first thing I would have though is "that's not actually him".
I have to say, the responses to his tweets are the funniest thing I've read all week.
Jon Eaton @sketchy1poker 20m
@MagicalTux die you fat fuck
Angry Mofo @angrymofo Jun 18
@MagicalTux Where's my Bitcoins you cunt ?
Icecream @Bird8880 Jun 15 :)
@MagicalTux I hope you die in the next earthquake fat ass
OR.....the Twitter account could be compromised, and the attacker is trolling you. I mean, they don't exactly have a stellar security record.
Quoting a guy named "The Arbitrageur (@FiatMoneyEnd)", complaining about how he had lost his money, was a particularly dry touch.
10 PRINT CHR$(205.5+RND(1)); : GOTO 10
"...he is a self-absorbed narcissist with an inflated sense of self-confidence who has no remorse."
So you're saying he has what it takes to be a Fortune 100 CEO?
"He continues to be oblivious about his own failure and the pain he has caused others. He is confirming that he is a self-absorbed narcissist with an inflated sense of self-confidence who has no remorse." The only question is with qualifications like these does he pursue Wall Street or sub-prime lending?
He's also Tweeted about a noodle dish called yakisoba and Japanese transportation systems. Andreas Antonopoulos, the CSO with Blockchain says, "He continues to be oblivious about his own failure and the pain he has caused others. He is confirming that he is a self-absorbed narcissist with an inflated sense of self-confidence who has no remorse."
Sounds to me like he's just using Twitter the same way everyone else uses Twitter. Why does tweeting about yakisoba make him a remorseless narcissist? He may be that, but regardless Twitter isn't the best venue for heartfelt apologies. I bet he also failed to take responsibility for Mt Gox last time he sent a text or wrote a sticky note.
What did he say about yakisoba? Does he like? Hate it? Get some on his shirt?
In Japanese, "yaki" mean fried, and "soba" means noodles. So "yakisoba" is just fried noodles. There is a wide variety of yakisoba, with various additional ingredients and sauces. Unless you have celiac disease, you should be able to find some type of yakisoba that you like.
Everything is worth what its purchaser will pay for it.
-- Publilius Syrus
"Give me your bitcoins, I'll hold onto them for you. They aren't regulated as a currency by the government (and you love that) also they are untraceable (you love that too), they are just data so if I lose them ... well I'll try not to lose them."
Who would have thought anybody with half a brain would actually fall for that, but they did, to the tune of like $400 million worth of the damn things!
I'm evil incarnate and I'm about to punish myself on behalf of the Twitterverse
Ok... I'm cutting. I'm slicing my wrists right now
That was pretty deep. Blood everywhere. Hard to type
I'm so sorry. Your virtual money went to virtual money heaven and it's all my fault.
Getting dizzy now. cant..... focus
keyboard so sticky
i dndt thk that woold hepeen we tried too stipthem and it
i'm sorry
Bitcoin is not a place one goes to enjoy the protections of traditional state issued currency and state regulated banking. Twitter is not a place one goes to find sincerity. Slashdot is not the place to indulge your fake outrage.
Maw! Fire up the karma burner!
That's where the money went. Yakisoba. A fuck-ton of it.
What is absolutely adorable is the (perennial, for some reason) crop of people who are attracted to bitcoins' interesting mathematical properties; but assume that these properties somehow magically transfer to mere paper that is merely denominated in bitcoins rather than in USD, bushels of wheat, Euros, or whatever.
You put a bitcoin in an account at one of these 'exchanges'? Well kid, I'm afraid I have some bad news: from the perspective of the bitcoin system, the exchange now owns the bitcoin. You just gave it to them. You now own some flavor of promissory note that's probably roughly on par with really shit commercial paper, except that it probably doesn't even offer interest to compensate you for the risk and time value. Good work on that.
If you want to enjoy the properties of bitcoins, You. Must. Hold. Bitcoins. IOUs, however you dress them up, do not have the properties of the currency or commodity in which they are denominated. If you want to bank, try a bank. Yes, they are abhuman scumweasels that enjoy massive regulatory capture in most markets; but unfortunately you don't really have better options.
This reads like it should be an Onion article. He's using Twitter for what it is typically used for -- self-absorbed useless posts. Why is anyone surprised? If they were all about how awesome his new $400 million yacht is, then I could see the issues. This is just that he came back to Twitter, and started using it normally.
~Anguirel (lit. Living Star-Iron)
QA: The art of telling someone that their baby is ugly without getting punched.
So, pretty much the same thing as if you put gold or cash in a bank?
No, I'm not quite sure how this isn't obvious to you but banks are regulated and insured by the government.
Yes and no.
Yes in that putting something in a bank turns it into a promise from the bank, whatever it is, assuming the bank will take it.
No in two main senses:
One, purely pragmatically, most countries that issue fiat currencies recognize that banks are de-facto extensions of ordinary currency circulation and regulate accordingly. This is probably all kinds of moral hazard; but it does mean that the IOU you get from a bank deposit has almost exactly the same backing as cash, up to whatever the FDIC's account threshold is. A bitcoin exchange, or any other generic commercial debt is in a distinctly different regulatory category, usually one that involves getting less of your money out when things go south.
The other, architectural, is that bitcoins derive much of their charm (for many, not all, users) from possessing certain interesting inherent properties: no central issuer, known supply, no double-spending or transaction reversal, etc. All enforced either by the protocol or by the cryptography. Very nice, invariant across jurisdictions, apparently well regarded in terms of design. Someone's IOU, whatever it's denominated in, has none of those properties. The fact that they tend to be downright dodgy as well is just a bonus.
I'd hazard a guess that there are plenty of unhappy Mt. Gox accountholders who would have looked at me like I was crazy if I'd asked "Would you like to make a non-diversified, unsecured, investment in a speculative-grade Japanese security?"; but blithly did exactly that, because bitcoins, missing the minor detail that all the bitcoiny goodness disappeared the moment they handed them over.
The funny, though rather predictable, thing about the bitcoin faithful is that this did nothing to shake their faith in it. The problem, according to them, wasn't the lack of tracking, regulation, oversight, or any of that, no it was clearly that MtGox "did it wrong" and that this "makes bitcoin stronger" and so on.
They see this an as anomaly, not an inherent risk of their chosen currency. They have a poor understanding of economics. Same reason why they think BTC's built in deflation is a GOOD thing.
Suppose copying and using intellectual property is not stealing.
That would be good, because it's not stealing, it's copyright infringement. That's why we call it copyright infringement, because unauthorized copying infriges on the copyright owner's right to restrict who can make copies of the copyrighted work.
Therefore it is okay and legal to pay $0 for intellectual property.
No more than murder not being called "life theft" makes it legal to murder someone.
Fanatically anti-fanatical