Mark Karpelès - Top 10 Best Questions for Mark Karpelès – MtGox AMA on Reddit

Top 10 Best Questions for Mark Karpelès – MtGox AMA on Reddit

Mark Karpelès, ex CEO of MtGox has decided to hold an AMA (ask me anything) on Reddit. He explains what happened with MtGox and the legal process that he is living since some years. He is in Japan right now, and he tried to be nearer to the people that was involved in the MtGox bankruptcy.

In this article we have selected some of the most interesting questions (in our opinion, of course), and answers.Mark Karpelès 1 300x199 - Top 10 Best Questions for Mark Karpelès – MtGox AMA on Reddit

Question (Q): What’s your current opinion on Roger, Jihan and Craig? (Jihan Wu runs Bitmain, one of the most important cryptocurrency mining companies in the world)

Answer (A): Roger: I am sorry this video you made to help us ended causing so much trouble. Jihan: Actually I’m not sure who this is. Craig: I’ve heard about Craig Wright. Definitely not Satoshi as most “evidence” was a fraud.

Q: Back in the days, did you at MtGox had an estimation of the volume of business brought by silk road?

A: We didn’t have an exact estimate, but following Ulbricht’s arrest and shut down of silk road we noticed a drop in activity which allowed put a figure on that at around 20%-30%.

Q: Can you comment on what will happen to the forked coins that are in possession of the court? BTG, BCH, etc. It adds an additional 10% of fiat to the valuation.

A: I don’t know about BTG; the trustee hasn’t commented about this. BCH are managed by the trustee, and some BCH were sold in the past months.

Q: I joined crypto after the MtGox issue, and I’ve been hearing from lots of sides about it. But I wanna ask 1 question: If you could go back in time and change 1 thing about MtGox, when would it be, and what would you do?

A: When buying MtGox I should have had people around me to advise me and help with the management starting with the MtGox transfer contract. I’m a tech guy, and bitconi was a tech thing at the time. In April 2011 there was an article in Forbes which changed Bitcoin forever, and I found myself managing emergencies everyday without any time to do the work that’d need to be actually done.

Q: Why did you not monitor your cold wallets and match them with balances to ensure you had not lost any bitcoin? A simple list of all bitcoin addresses with a script to calculate total bitcoin balance and SUM (amount) in db…?

A: Multiple reasons for that, from the security concept of cold wallets to others I cannot comment on yet.

Q: The leaked MtGox crises draft mentions a 200k injection to get MtGox back and running again, what was that number based on?

A: No idea, this document wasn’t made by me, but I’d guess it was an estimate on how much would be needed to keep MtGox alive.

Q: Who did you tell that mtGox was insolvent before it was announced. There were people in the know, and 10k BTC dump on bitstamp shortly before you announced it.

A: Only a limited numbers of employees, our lawyers, the court, and the soon-to-be-trustee.

Q: Are you allowed to leave the country (Japan)? If so, would you be willing to give a talk at an event/meetup in Zurich about MtGox?

A: I am unfortunately not allowed to leave Japan at this point. I’d be happy to attend on the situation clears up a bit more.

Q: Have you considered setting up a charitable trust fund like the Pineapple Fund? MtGox happened. No way to turn back time. You’re going to live a financially comfortable life. The only thing you can affect now is the future. You can do some serious good things for this world.

A: I do not believe anyone would believe in a trust I’d have setup. And I will not give up on trying to get all assets distributed to creditors.

Q: What do you not like about Japan?

A: The legal system, I guess. Compared to what we have in France it is still quite backward, and by European standards many elements are very bad, and in some case would be considered violation of human rights.

It’s nothing however compared to what happens in third world countries but maybe something can be done about this one day. I don’t know if it’ll help but I plan to discuss more about this once the case ends.

At the moment we have explored ten interesting questions from many different topics. But to end the article we have selected one more question.

Q: If a movie is ever made about MtGox or Bitcoin in general, which actor would you prefer to play you?

A: Jack Black. I really love the guy.

Which questions would you make to Mr. Mark Karpelès? What do you think about the answers given by him?

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