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    Author Topic: Making it public: I have moved the disputed 643.2771 BTC into an escrow account  (Read 17128 times)
    Horkabork
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    June 22, 2011, 02:42:46 AM
     #61

    Jesus Christ, people. We still don't know enough information to take sides on this matter. I don't know enough facts to say that Kevin did or did not do anything wrong.

    Sure, I know enough about Mt. Gox's behavior of either actively lying about or being ignorant of the security breach. I also blame them for not having a circuit breaker, which would be like 2 lines of code. I also blame them for a multitude of issues that have come up, such as accounts that don't even have email addresses associated, the lack of trading logs, no password strength enforcement, no address locks, no stop losses, and generally crappy communication for a place that can pull down $13k a day in fees.

    But this is a separate matter. Right or wrong, I don't know. I'm saying that I don't think anyone is thinking straight if they're taking definitive sides on what happened with Kevin, specifically, and what should be done about it. We've seen scant evidence in favor of either claim.

    However, Kevin, in realizing how his own actions could be perceived, has done a smart thing here by putting coins in escrow. It doesn't really do anything in terms of providing evidence, but it does indicate that he really is willing to let the other parties investigate to clear his name.

    That's a class act. In fact, because so many people feel like this issue will impact their trading and trust of Mt. Gox, an investigation does need to be done by an impartial party with a neutral arbitrator. I do know this: Mt. Gox coming to their own conclusions and then announcing and attempting to enforce them is only sufficient if their conclusion is in clearing Kevin's name. I'll restate that: Mt. Gox can only possibly relieve Kevin of guilt, not reliably prove it. If they do investigate and believe that Kevin is guilty of something or should return the coins, then they need to then involve a third party.
    You can't be both the plaintiff and the judge. You can, at best, only act to withdraw your accusation.

    Mt. Gox should know that they are not perceived as being impartial, let alone trustable right now. It's akin to paypal's famous habit of pretending to arbitrate disputes, but usually just settling their own favor (freezing funds) or going with whichever account-holder brings them the most business.

    Now, because we all know Kevin's name and what should have been private details, it really is up to Mt. Gox to see this through publicly. My guess is that, in one month, Kevin will have his coins and Mt. Gox will neither have accused Kevin of anything nor absolved him. They'll just have hoped that this quietly will have gone away.

    That is not acceptable. If he gets to keep the coins, it needs to be confirmed by Mt. Gox that they will not pursue him in the future.

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