@thelema93
[10:58] <JonWickedFire> Is that Crisis Strategy Draft even legit?
[11:04] <MagicalTux> more or less
[11:05] <MagicalTux> as the name suggests it's a draft, and it's a bunch of proposals to deal with the issue at hand, not things that are actually planned and/or done
which channel is this from?[10:58] <JonWickedFire> Is that Crisis Strategy Draft even legit?
[11:04] <MagicalTux> more or less
[11:05] <MagicalTux> as the name suggests it's a draft, and it's a bunch of proposals to deal with the issue at hand, not things that are actually planned and/or done
http://www.wickedfire.com/shooting-shit/179038-my-conversation-mark-karpeles-mtgox-2.html
http://www.foxbusiness.com/markets/2014/02/25/mt-gox-ceo-says-on-internet-chat-hasnt-given-up/
From reading this chat log (if its authentic) I immediately come to the following conclusions:
- They did not have a cold wallet, it was one huge hot wallet, implemented by MT.
- Occasionally it lost (or failed to store correctly or deleted¹) private keys of its own change outputs ('not "lost" just yet, just temporarily unavailable')
- He seems to believe the keys are still there somewhere buried deeply somewhere in his database server ('We haven't given up')
_____________________
¹) This is how I imagine their wallet worked (and how it fucked up):
User initiates withdrawal:
* debit amount from user account
* generate new private key for change address and create tx
* store tx in database (indexed by txid)
* store private key in database (indexed by address, foreign_key=txid)
* push tx to network
a week later (cron job)
* for all unconfirmed tx older than 1 week:
* credit BTC back to customer account
* delete "invalid" tx
* -> cascaded delete "unused" change address and its private key (ouch!)
run 2 years until wallet is dry, all supposed UTXO turn out to be STXO and all real UTXO are in nirvana already.
I've found corroborating evidence that this irc chat actually happened. I initially thought this IRC chat was suspect, especially with the picture of the cat on the keyboard...it wouldn't be hard to fake an IRC chat...but it's more difficult to fake Mark Karpeles's keyboard.
I was watching CBC news and I saw what looked like the exact same keyboard with some stock footage of Mark Karpeles at mtgox headquarters.
The replay of the segment is up here: http://www.cbc.ca/player/News/TV%20Shows/The%20National/ID/2439580476/
Here's the screenshot of Mark K's desk at mtgox from this CBC segment. http://grab.by/uF4M
And here's the kitty cat pic for reference: http://imgur.com/r/Bitcoin/GqZr3N5
Here's an old video of Mark K's cat on youtube: http://www.youtube.com/watch?v=81QkfGpHeyQ
Either the irc chat was faked and someone did extensive research and prepared the correct prop keyboard and correct prop cat, or that pic really is Mark Karpeles's keyboard and cat.
At this point, I'm thinking that irc chat actually happened.