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Q: Why didn’t you hire experienced professionals? A: We tried, but we didn’t have money [...]

Says the CEO of a company that 'lost' $500MM worth of bitcoins.

I think the mere fact that he's still not in prison suggests that he retained at least enough of the 'lost' coins to bribe a few people...




I'm not sure I follow you. The money that they lost (scare quotes or not) was not theirs, it was their users'. It's not like they could use it to hire someone.


In 2013 MtGox collected on average $150k USD in transaction fees. Per day.

On peak days, such as 1st December 2013, MtGox collected up to $1.3MM USD in fees.

That is money they could have used to hire someone.

Karpeles claim of 'we had no money' is not just laughable. It's an open slap in the face of everyone who lost money to MtGox.


To lose someone else's money means you actually lost it. To 'lose' someone else's money means you lost it into your own account.

The previous poster was suggesting that the money hadn't been necessarily been lost to thieves but that Karpelès, himself, had stolen at least a good portion of it and then used some of it for bribes.


If they couldn't raise enough operating funds from the revenue they were seeing, they needed to raise their fees.




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