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

Kelly John Rose iam at kjro.se
Fri Mar 21 08:30:54 PDT 2014


But wouldn't that lead to... *SHOCK* fractional reserves!


On Fri, Mar 21, 2014 at 8:36 AM, Sylvester Liang <boyscity at gmail.com> 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 <iam at kjro.se> wrote:
>
>> 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
>>
>> 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 at kjro.se
MSN: msn at kjro.se

Document contents are confidential between original recipients and sender.
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