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

Kelly John Rose iam at kjro.se
Fri Mar 21 07:20:02 PDT 2014


On Thu, Mar 20, 2014 at 11:25 PM, jim bell <jamesdbell9 at yahoo.com> wrote:

>
> http://www.engadget.com/2014/03/20/mt-gox-apparently-found-200-000-bitcoin-in-an-old-wallet-shoul/?ncid=txtlnkusaolp00000589
>
> "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 funds<http://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 holders<http://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 at kjro.se
MSN: msn at kjro.se

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