Re: "Whew, wondered where we'd put those 200,000 BTC!"

But wouldn't that lead to... *SHOCK* fractional reserves! On Fri, Mar 21, 2014 at 8:36 AM, Sylvester Liang wrote:

Try asking gox if they lend you the 200,000 BTC to do that.

On Fri, Mar 21, 2014 at 7:50 PM, Kelly John Rose wrote:

...

On Thu, Mar 20, 2014 at 11:25 PM, jim bell wrote:

...

http://www.engadget.com/2014/03/20/mt-gox-apparently-found-200-000-bitcoin-i...

"In a bit of news that's familiar to anyone who ever put on an old jacket and found $20 in the pocket, embattled Bitcoin exchange Mt. Gox has made a fortuitous discovery. The company announced (PDF)https://www.mtgox.com/img/pdf/20140320-btc-announce.pdf in Japan that it found 200,000 Bitcoin (worth nearly $116 million at the moment) in a wallet from 2011 that it no longer used. That's less than a quarter of the 850,000 Bitcoins CEO Mark Karpeles reported were missing, but at the moment, at least it's something. According to its statement, the coins were moved to online wallets on the 7th, and then to offline wallets on the 14th and 15th. The mystery of what happened to Mt. Gox's fundshttp://www.engadget.com/2014/03/11/mt-gox-us-assets-frozen/ is still far from solved, but between this news and reports of updated balances for account holdershttp://www.engadget.com/2014/03/17/mt-gox-login-page-returns/, it seems possible that there's something to be recovered from the shuttered exchange. Next up, removing all of the cushions from the sofa and pulling it away from the wall."

If that doesn't inspire confidence in you, I don't know what will!

Honestly, I really wonder what would happen if some developers who understand financial cryptography and how banks properly work built a real bitcoin exchange. Considering how well it has done with incompetents like this, I'm betting a properly programmed and vetted system may be quite successful.

Too bad I don't have 200,000 BTC to do just that.

-- Kelly John Rose Twitter: @kjrose Skype: kjrose.pr Gtalk: iam@kjro.se MSN: msn@kjro.se

Document contents are confidential between original recipients and sender.

-- Kelly John Rose Edmonton, AB Phone: +1 587 982-4104 Twitter: @kjrose Skype: kjrose.pr Gtalk: iam@kjro.se MSN: msn@kjro.se Document contents are confidential between original recipients and sender.