According to the article “Effortless French: Mt. Gox and out bitcoins’s roller coaster ride” Cyrus Farivar — chief reporter political direction to Ars Technica, as well as writer and radio presenter.
After watching the spectacular documentary “Light French”, about the formation and collapse of the infamous cryptocurrency exchange Mt.Gox, I had two questions that still have not given comprehensive answers. Please note, I participated in several scenes in the film and made comments.
First, we have still no full understanding of what happened with Mt.Gox. And it is unlikely we’ll ever find out. Me crystal clear one thing is clear — the current ex-Director General of the exchange mark Karpeles in Tokyo, do not know what happened.
Launched in 2010, bitcoin exchange Mt. Gox has quickly become the most popular place to trade cryptocurrency in the world. But in February 2014, the “extinguished light” and filed for bankruptcy. Mt. Gox accused exploited a major security flaw hackers in the theft of 850,000 bitcoins (currently over $ 8 billion). This event Karpeles turned into the most hated man in the world of cryptocurrency. Users could not understand how this could happen right under his nose.
As for my second question, the Directors did not pay attention to the direct message I tried to convey Karpeles. The film’s title comes from the inscription on the t-shirt Brand that was on the day of his arrest in 2015. He wore the same t-shirt for all the interviews for the film. If French filmmakers bothered to ask him about the shirt, you would understand that the name “Light French” is not suitable for their belt.
The English word “easyless” means an arduous action that looks easy. But here, the Directors relied on their knowledge of English and have translated this phrase as “easy French”.
With regard to investors who lost during the collapse of their money, then you need to notice that this is the price of gambling on a digital Wild West.
According to the Karpeles, Mt. Gox was not a Bank and was not like most of today’s major exchanges like Coinbase. Mt. Gox just gave users the ability to purchase bitcoins via Bank transfer and then withdraw them. Karpeles didn’t want people to use exchange as long-term storage of their own cryptocurrency, but that’s what they were doing.
Bankruptcy Mt.Gox continue, but no one knows whether the bitcoins are returned to their owners, and they are now much more expensive.
By the end of the film Karpeles starts to look through quiet and naive humanity. He admits that “it is possible” he Has Asperger’s. In the final scene he admits that he spent years mimicking the social behavior of others. In short, I was under the impression that Karpeles really didn’t feel emotion watching the collapse of his company. However, in his BBC interview mark described his emotional state in those days:
Imagine if you fell out the window and see earth getting closer and this is the end. Mt. Gox of the interesting project has turned into a daily nightmare with the banks, governments and people I never knew.
Mt. Gox has strengthened its position simultaneously with the Silk Road, the now closed largest trading platform darknet, where as payment accept only cryptocurrencies. Karpeles admitted that Mt. Gox has benefited from the Silk Road, as one-third to half of the transactions on the exchange have been associated with this platform.
Former employees of Mt. Gox described the exchange as a place that is growing rapidly, but total control was in the hands of only one person. Karpeles have never been allies, true friends or people you trust. Even his mother Anne Karpeles shared in an interview that communicates with the son “through photos of cats”.
88% of Mt. Gox belonged to another Karpeles company called Tibanne. Tibanne, which also is in the process of bankruptcy, got its name from Karpeles cat.
As things stand today, Mark Karpeles? Well, people still trust him with their projects, because in essence, he is a great coder. I wrote him to ask whether he was looking the movie about himself and what he experiences. That’s what the answer I got:
Yeah, I saw him. Many people after viewing wrote me positive words, so that’s good. I think that the ending kind of lame, but it’s probably because everything is still not over.