mircea_popescu: but yes, as the j man says, nothing keeps you from doing brokerage for any market segment you identify and think you can serve.
mircea_popescu: there is such a thing as eternal truths.
jurov: greenspan_fan: clearly there's market gap for you to exploit
mircea_popescu: leading question #2 : what could the concept of "Accredited investor" mean in bitcoin, and how would one go about meaningfully implementing it ?
greenspan_fan: at this point idk whether it's positive (as a mark of differentiation) or whether you're losing business because it seems like it's pre-1999
greenspan_fan: mircea_popescu presumably if you/your employees could implement a sophisticated exchange (with all the countermeasures in order to ensure continuous operation) you could at least add some css to mpex.co
nubbins`: ah, bc.info has edited their statement as well
Bugpowder: OK... let's get back to racking these cold wallets
ThickAsThieves: @Mircea_Popescu @therealaltcoin Lol even google image can tell its peter
greenspan_fan: but gox was able to siphon off 700 000 btc because they had javascript and css basically
mircea_popescu: either way.
Bones_: If everyone was in here, then we wouldn't make as much money?
mircea_popescu: you know how ycombinator isn't hiring BingoBoingo to tell them what's what ?
mircea_popescu: because they know better.
mircea_popescu: ThickAsThieves they did yes.
ThickAsThieves: "Interestingly the folks at secondmarket called me today to say that there will be a one week halt on all new BIT purchases and their trading department is no longer taking any new positions."
nubbins`: i thought the twitter fail whale was neat
nubbins`: ^ this is the proper way to deal with this issue, not a fucking cloudflare snapshot
greenspan_fan: isn't that like the clown from those stephen king novels?
ozbot: imgur: the simple image sharer
ThickAsThieves: @therealaltcoin
greenspan_fan: you must be the only altcoin creator without 10,000 sockpuppets
ThickAsThieves: i have only the altcoin twatter
nubbins`: they've been renewed for a third, hey?
nubbins`: greenspan_fan: never read the bio, HoC s2 was great tho
ozbot: imgur: the simple image sharer
nubbins`: mircea_popescu: netflix-only television show based on a bbc television show based on a novel. the netflix version centers around u.s. political intrigue, specifically kevin spacey's machinations towards the presidency
greenspan_fan: did you see the latest season? I'd say it was a contender, even sans eunuchs
nubbins`: the type of shit that'd put House of Cards to shame
nubbins`: "Successive emperors became the captors of various factions of eunuchs."
ozbot: MtGox and ancient Bitcoin history - the straight dope. pe Trilema - Un blog de Mircea Popescu.
Vexual: and they knew?
asciilifeform: unrelated, but relevant to 'interesting times': http://bloodandtreasure.typepad.com/blood_treasure/2004/09/further_chronic.html
ThickAsThieves: an IPO to buy the domain after scammers are done with it?
mircea_popescu: https://pbs.twimg.com/profile_images/2165830363/Peter-Portrait.jpg << seriously, look at this guy. doesn't he look like the 110 iq barrier is a bridge too far ?
greenspan_fan: so when's the mpex ipo for gox.com?
dexX7: there is also this post from wsj earlier: http://archive.is/NLLpV - "According to documents seen by The Wall Street Journal, Tibanne Co., which operates Mt. Gox, is expected to generate a small profit in the fiscal year ending in March from exchange transaction fees. The forecast, however, assumes bitcoin prices well above current levels."
greenspan_fan: bitcoin becomes the national currency of ecuador and he flees britain as a citizen
mircea_popescu: it's their nest egg.
greenspan_fan: what is interesting, though, is that you might be able to follow the block chain from the earlier transactions
mircea_popescu: Bugpowder kinda what happens when you delete your posts, you know ? people start the takeover.
the20year: did the buildabetterburgers take down gox?
ThickAsThieves: on the advice of me!
mircea_popescu: kinda the only reason i like vessenes. he's so fucking dumb.
greenspan_fan: presumably on the advice of lawyers
mircea_popescu: and the fact that the scammer troop has coordinated ballet on the topic is really just a sign of how fucking stupid they are.
mircea_popescu: greenspan_fan basically, mtgox demise was decided april 2013, at the secret conference nobody went to.
greenspan_fan: given that they all prepared joint statements
asciilifeform: goes well with that other bouncyball gif
greenspan_fan: it seemed like the btc foundation peopel knew
greenspan_fan: seems like it was legit; they've essentially gone dark
asciilifeform: let the man sleep, folks. he sleeps, what, once a week?
mircea_popescu: so i should wake up for the derpage ?
Apocalyptic: it's a shitstorm out there
ThickAsThieves: according to the article*
ThickAsThieves: My brother met domain broker Joe Politzer in Singapore who got excited about gox.com and then I said he could try to sell it if he wanted. He called Karpeles and Gox to find out if they wanted it and immediately they expressed pretty strong interest. I’ve asked Mark if it’s ok to publish details (no response as yet).”
cazalla: would this resolve as yes if they rebrand http://bitbet.us/bet/751/mtgox-out-of-business-in-2014/
ThickAsThieves: On February 21, 2014, Andy Booth was listed as the domain name registrant, according to a historical Whois record.
greenspan_fan: or satashi nakamoto, the real brains behind mt. gox, swoops in to bail everyone out with his million bitcoin stash
ThickAsThieves: http://www.reddit.com/r/Bitcoin/comments/1yuyx4/hey_charlie_shrem_was_this_the_good_news_on_the/
greenspan_fan: I am picturing it now: suicide note partially obscured by condensation from the frappuchino placed on top
greenspan_fan: man I am going to feel really bad if gox exec actually off themselves
ThickAsThieves: maybe there's a connection
greenspan_fan: TO THE MOON!
ThickAsThieves: at least gox has the courtesy to die under $150
ozbot: Another "Successful Banker" Found Dead | Zero Hedge
the20year: Granted they're throwing in a 2300sf duplex along with everything
the20year: Bask in the glory of a 385sqft cottage
ThickAsThieves: music for trees in the woods
Vexual: pretty good, i might need to be in the mood for it
nubbins`: Vexual, have a listen to the album a friend and i recorded: https://atelierbleu.bandcamp.com/album/manicouagan
ThickAsThieves: the audience
ThickAsThieves: rubbing hands and cock together
ThickAsThieves: oil is the lube
nubbins` rubs hands together
the20year: You guys see the video of our glorious next purchase of 2 houses on one lot?
greenspan_fan: I am thinking either angry investor puts a hit out w/ the yakuza, or he commits hari kiri. Place your bets.
greenspan_fan: are there any bitcoin death pools? because I don't think karpeles will have been priced properly yet
ThickAsThieves: maybe they rebrand too, under.com
the20year: I think in between bitfuner and gox, just the inevstors I've talked to have lost 150+btc
ThickAsThieves: hmm i'm just realizing that last i talked to my brother he was using gox as a wallet
the20year: Granted I did cash out part of them at $700
the20year: That would have been the better choice, one of the bigger issues has been waiting on havelock to send me the coins, they aren't deposited on a wallet on our side
greenspan_fan: given how any press seems to push the price up
the20year: there was some java/ad exploit that took alot of coins from people running XP, and I was one of them, right around the time bitcoin hit like $20 for the first time due to all the silk road press, maybe that was 2011?
the20year: Never did anything with teh wallet, showed up at office one day and the client was open, all coins gone
the20year: Went to a bunch of faucets after downloading the client, the ones that were giving 1 to 0.5btc out per day per time you hit the faucet
ThickAsThieves: http://blog.blockchain.info/2014/02/25/joint-statement/ kraken just happy for the free advertising
the20year: I *got in* on bitcoin in the first 3 months, didn't do me much good by not sticking with it :D
greenspan_fan: because HN was one of the first places to hear about bitcoin, and almost none of the people got in on it
Diablo-D3: top 5 stories on hn, with a sixth further down are mtgox
ThickAsThieves: it's the most expensive magic card
greenspan_fan: it's the japanese corporate way
ThickAsThieves: are they casacius lotuses?
greenspan_fan: assuming they have any money at all (which they might, if they were front running the market all week)
the20year: it's like everything else , once you screw the pooch it can't be undone
ThickAsThieves: no plan or rebranding can save them
ThickAsThieves: theyre done
greenspan_fan: not if they're planning to make people whole tho
nubbins`: can't recall the details
ThickAsThieves: they will be
greenspan_fan: that would make sense, because otherwise people who traded via bitcoin builder would be furious
ThickAsThieves: how the hell do you leak coins for years though
greenspan_fan: what are some other ways?
nubbins`: now it's all left as an exercise to the reader
greenspan_fan: but I just don't have the heart
jayk: they were allowing trading up until today
nubbins`: was locked in an exam room for the actual event, didn't find out until hours afterwards
nubbins`: heh, i was smoking a joint outside the library at uni
nubbins`: "i remember where i was when i found out mtgox was gone... sitting on my ass in front of the computer"
greenspan_fan: they only ever really had a genius for fraud
Apocalyptic: KRS-One, can you get a registration date for the account ?
ThickAsThieves: hell, this channel could muster a better offer than them
kakobrekla: www.businessinsider.com.au/falcon-global-capital-offers-to-buy-the-fbis-bitcoins-2014-2
ThickAsThieves: Founder Good-Benefits - Creator of the first ever "401k for charity" • Worked at @Summit Partners, @Former Analyst at JPMorgan Investment Bank • Studied at @BC
Apocalyptic: <nubbins`> an asshole who wanted cheap coin for his business was the straw that broke gox's back // are you serious ?
nubbins`: an asshole who wanted cheap coin for his business was the straw that broke gox's back
gx: seems like selkis is in competition w/ gox in one way or another.
ThickAsThieves: Bitcoin's decentralized, privately funded version of the FDIC. We reduce volatility for consumers while helping hedge funds invest in bitcoin.
nubbins`: honestly, i think this selkis guy completely fabricated the pdf and associated "story", for whatever reason, but then it grew legs, people started panicking and issuing statements, so gox (who knew it was only a matter of time anyway) decided now was as good a time as any to give it up
gx: fired off to someone for approval and then leaked
Apocalyptic: <nubbins`> but why is it so poorly written, // why is the all mtgox system so poorly written ?
ThickAsThieves: maybe the most fucked man alive
Apocalyptic: as unreal as it may appear, I think the doc is legit
ThickAsThieves: i'm on the fence
nubbins`: Apocalyptic: i still think the pdf is fake, yes
greenspan_fan: it's loaded but there's nothing transmitted
ThickAsThieves: hastily, but longterm nonetheless
ThickAsThieves: they are thinking long term
ThickAsThieves: coinbase is worried theyll have less customers thats all
gx: which the gox guy just stepped down
gx: it's members of the btc foundation
greenspan_fan: how did they all get together and become confident enough to risk getting sued in the space of a couple hours?
the20year: i find it interesting they're doing it jointly with compeditors
ThickAsThieves: they are just being opportunists
ThickAsThieves: to rmeove the insolvency accusation
ThickAsThieves: coinbase edited their blog post bug
greenspan_fan: because some of the columns don't seem to add up, or I'm reading it wrong?
ThickAsThieves: it's the least useful page
greenspan_fan: well they've got future projections etc.
ThickAsThieves: why redact it at all is the question
gx: or, projections rather
greenspan_fan: which would be, I think, the funniest thing since pirate
gx: ah, so that's why it's a hoax, someone just c+p their annual report to the last page to make it seem legit?
greenspan_fan: but if it is a hoax, and one of those 'startup ftw!' jackasses made it, then they might be sunk as well
greenspan_fan: but the funny thing is, it might be right anyways
nubbins`: gx: you can highlight the text and copy/paste
gx: greenspan_fan they forgot to mention the 200,000BTC they're gonna make w/ their cafe though. gotta weigh that in.
greenspan_fan: and the numbers are purely speculative for the future and drawn from mt gox's reports for the past
greenspan_fan: Either way, it just weakens your case
ThickAsThieves: the redaction was likely done using a 3rd party PDF editor
cazalla: changing it after posting might suggest otherwise
ozbot: Joint Statement Regarding the Insolvency of MtGox | Blockchain.info Team Blog
ThickAsThieves: coinbase edited their post
nubbins`: Bugpowder, so why is this guy redacting these "real" PDFs himself?
the20year: wonder if we could hit the 1mb limit?
gx: people are gonna flock to their bitcoin cafe and deposit hundreds of thousands of coins
ThickAsThieves: look up therealaltcoin.org
ThickAsThieves: wtf is wrong with companies these days
ThickAsThieves: that's the propblem Apoc
ThickAsThieves: they really wanted that US-based dominant exchange
greenspan_fan: and, fwiw, the whole shitstorm started with the guy posting a link to his own tumblr on reddit
ThickAsThieves: maybe it's the USG!
greenspan_fan: the biggest coinbase booster somehow stumbles onto documents pertaining to the demise of coinbase's biggest rival
ThickAsThieves: they should have been explicit
ThickAsThieves: fake or not, the current one is offensive
Guest88068: http://blog.coinbase.com/post/77766809700/joint-statement-regarding-the-insolvency-of-mtgox
ThickAsThieves: i actually approve of the brand change
nubbins`: as is the "we are a bunch of cunts who shouldn't be in business" line
ThickAsThieves: there are no MX records for gox.com fwiw
greenspan_fan: "drop the mt, it's cleaner"
greenspan_fan: of course, the rebranding as "gox.com" is hilarious, too
greenspan_fan: when it should go into detail about the whole "not going bankrupt and not going to jail" plan
greenspan_fan: yeah. I will further speculate that it's his hoax, because the slide deck is all about social media and assorted bullshit
nubbins`: hahahahahah what a fucking rube, you can just highlight the goddamn redacted text
greenspan_fan: meanwhile, every exchange is down 20% while the dude's launching some kind of btc venture fund
ThickAsThieves: “I am livid, just like so many of you,” wrote Ryan Selkis, who publishes the “Two-Bit Idiot” daily newsletter. “For them to backdoor their users like this on Bitcoin makes me want to start an uprising. (I think others may have already started it though.)”
nubbins`: "...wrote Ryan Selkis, who publishes the “Two-Bit Idiot” daily newsletter"
nubbins`: aka the guy whose tumblr blog this story came from.
nubbins`: aka "the two-bit idiot"
dexX7: at least his name is bound to the note
dexX7: blacked out the numbers
ThickAsThieves: created date for the PDF is tomorrow
ThickAsThieves: no other metadata i can see
nubbins`: who the fuck would put a sentence like that in an internal memo?
nubbins`: "The reality is that MtGox can go bankrupt at any moment, and certainly deserves to as a company"
greenspan_fan: or there really is a consulting firm as lousy as mt gox is an exchange
greenspan_fan: yeah, this seems like either a genius ploy
ThickAsThieves: i dunnp these numbers seem weird
greenspan_fan: april 2015- march 2016 "other" is 150,000
ThickAsThieves: the amounts must be in shorthand
greenspan_fan: do the amounts seem plausible?
nubbins`: there was an occasion a few years ago here where some government department decided to redact their own docs
ThickAsThieves: the redactions are removable
greenspan_fan: but on the other, this would be the finest example of internet trolling meets market manipulation in recent memory
greenspan_fan: on the one hand, gox is run so badly
ThickAsThieves: i can check the PDF in a sec
greenspan_fan: yeah, a guy on hacker news suggests that the redacted slide is visible using illustrator
ozbot: scottansan comments on Copy of the alleged MtGox-Situation-Crisis-Strategy-Draft
nubbins`: CS still compiling... occasional bouts of panic until i realize they're warnings i'm seeing, not errors
nubbins`: the one that came from some random nobody's tumblr, you mean? :D
ThickAsThieves: people should rally the price to make sure gox dies
nubbins`: nod, now the real work begins
nubbins`: you may be the first pleb to successfully get 0.0.4 running