Tagtwo bit idiot

Two-Bit Idiot: A Cautionary Tale

My Dad always liked to compare life to poker, "you got to know when to hold 'em, know when to fold 'em," he would say. Sure, maybe I'm thinking of Kenny Rogers. Either way, the lesson is one everyone could benefit from learning. In case you are already familiar with Two-Bit's recent episode, I believe it to be a symptom of a larger issue within the Bitcoin ecosystem.  This drama is barely...

MtGox Leak Update: No Buyers, Gox Acted "Alone and In Desperation"

mark karpeles protest frap

"The Two-Bit-Idiot," who leaked the original document blowing the lid off MtGox, has declared via Tumblr to have "all of the pieces to the Mt. Gox puzzle," which depicts MtGox as having "acted alone and in desperation."  The fact that MtGox had no buyers lined up to shoulder the burden of their mistakes demonstrates the degree to which MtGox and Mark Karpeles are even bigger frauds than many in...

Updated: IRC Chat With Mark Karpeles Confirms Leaked Document's Authenticity: Mt. Gox Is Currently Seeking A Bail Out

cat of gox

Latest Update: Mt. Gox has been hit with a Subpeona filed by federal prosecutors in New York.  We may get our answers sooner than we thought... This also explains why Gox/Karpeles was so close-lipped.   This morning I updated y'all on Mt. Gox's website's newest announcement and hashed out my theory that the leaked document was authentic.  Assuming the authenticity of the document leads us to...

Mt. Gox Has Halted Trading... Right In The Middle Of An Unconfirmed Crisis

Reddit is currently aflame with the news that everyone's favorite Bitcoin Exchange: Mt. Gox, has disabled trading.  Couple that atrocious situation with a blank twitter feed and it is no wonder that peoples' imaginations will run wild. One of the only things we know for certain is that Mark Karpeles has resigned from the Bitcoin Foundation amid large public uproar.  The other thing we know is...