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from the we-promise-we-won't-have-BTC-news-every-day dept.
juggs writes:
"In yet another (un)surprising twist in the ongoing MtGox bitcoin exchange collapse saga, the BBC reports that MtGox has managed to find 200,000 Bitcoins tucked away in a wallet that had been lying unused and assumed empty since 2011.
From the brief FA:
The firm said it found the bitcoins worth around $116m USD (£70m GBP) in an old digital wallet from 2011. That brings the total number of bitcoins the firm lost down to 650,000 from 850,000.
This revelation, as court disclosure hearings are currently in progress, seems to be conveniently timed. Perhaps Mark Karpeles (CEO MtGox) and his legal team think this is a good move, maybe to cast an illusion of incompetence rather than malice in the run up to the no doubt long running court battles ahead in many jurisdictions.
Can even the most incompetent CEO lose track of $116m USD of assets for 3 years or so (~23.529% of the originally claimed lost assets)? I suppose the courts will decide ultimately.
In other Bitcoin related news, Bitcoin Core 0.9.0 was released 19th March 2014: Bitcoin v0.9.0 release
This update apparently closes many transaction malleability loopholes that MtGox alleges are how it was denuded of its assets. Not that it would have helped MtGox in any way, they apparently chose to not update their implementation despite the malleability issues already being publicly aired and functional workarounds being publicized within the Bitcoin community.
(Score: 2, Interesting) by RoyWard on Friday March 21 2014, @10:02AM
"Never attribute to malice that which is adequately explained by stupidity"
However every news story that comes out seems to increase the level of stupidity that would be required.
I find it interesting how the mainstream media is picking this stuff up - for example, both the link in the summary and http://www.stuff.co.nz/technology/digital-living/3 0027385/mt-gox-finds-200000-forgotten-bitcoins [stuff.co.nz] . Not that long ago, I'd only see bitcoin related news on tech fora.
(Score: 4, Interesting) by RobotMonster on Friday March 21 2014, @10:16AM
Yeah, it has been weird to see bitcoin stories on the TV news & current affairs in Australia. They've been badly done and very one-sided (pro bitcoin), but that's fairly normal for any technology story in that space (e.g. all the recent coverage of the birthday of the 'internet', when they were actually talking about the 'web'). I've even seen bitcoin price graphs in the finance section of the TV news...
Get off my lawn!