Japanese Police Arrest Mount Gox CEO Mark Karpeles

Posted by timothy on Saturday August 1, 2015 @03:19AM from the well-he-looks-guilty dept.

McGruber writes with the news as carried (paywalled) by the Wall Street Journal that Mark Karpeles, who headed bitcoin exchange Mt. Gox, has been arrested by Japanese police: In February 2014, Mount Gox filed for bankruptcy, saying it had lost 750,000 of its customers' bitcoins as well as 100,000 of its own, worth some $500 million at the time. A police spokesman said Mr. Karpelès is suspected of manipulating his own account at the company by making it appear that $1 million was added to it. The BBC reports the arrest as well, and notes that the coins missing from Mt. Gox represent 7% of all Bitcoins in circulation.

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Re:Note to self by murdocj · 2015-08-01 04:48 · Score: 5, Insightful

It's so weird... I go to the bank, I get cash, I buy stuff. I use my credit card, I buy stuff. I send checks to pay bills. All with this worthless fiat currency that you rant about. Remind me, what's wrong here? The fact that what it can buy tomorrow may be different from what it can buy today? If you can point me to ANYTHING whose worth hasn't changed over time, I'd love to see it.