Brock Pierce news

American entrepreneur known for his work in the cryptocurrency, director of Bitcoin Foundation.

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Bitcoin [BTC]: Mt Gox redemption plan demonstrates the power of open source network, says Brock Pierce

Mt Gox, which was one of the largest cryptocurrency exchanges, was declared bankrupt in 2014 when the exchange lost or suffered a theft of about 850,000 bitcoins [worth about $450 million] and caused a loss of about 7% of the total Bitcoin in circulation. However, Brock Pierce, Venture capitalist, and former Bitcoin Foundation director, believes that his plan to take over the Mt Gox rehabilitation process demonstrates “the overall power of Bitcoin and open source” network. Brock Pierce has been an ardent participant of the cryptocurrency industry and has recently said that he wants the creditors of Mt Gox to receive everything that they have lost in the scandal. Pierce recently announced a project called Gox Rising, stating that his company Sunlot has acquired Mt Gox from Mark Karpeles, who is yet to admit to the sale publicly. He spoke on the latest edition of the Keiser Report on February 16, where he seems to have garnered mixed reactions to his ‘Gox Rising’ initiative. He said: “When people bring up these names of Mt Gox and Mark Kerpeles, they have a strong disloyal reaction and for a good reason. The incidents that took place in last 2013 or early 2014 set our cryptocurrency industry back for a year or two. It was the primary reason for the bear market in 2014 and 2015, and it might also be responsible for the bear run Bitcoin is under today.” He further added: “A total of 103,000 account holders were affected, 24000 people applied for bank bankruptcy when the exchange collapsed. So they were 24,000 victims. These were the early betters of Bitcoins, who had the conviction to take the risk and invest into the cryptocurrency and suffered a loss to absolutely no fault of theirs.” The main intention behind Gox Rising was to be an alternative to Mt Gox bankruptcy trustee Nobuaki Kobayashi’s civil rehabilitation effort. The organization, dubbed as a medium to assure the people who suffered from the Mt Gox scandal that they would be repaid as much money as possible, had published a proposed plan on its website regarding the regrouping. Pierce said that community actions were crucial in making sure that the failed exchange didn’t become a cryptocurrency ‘Lehman Brothers’. Pierce said: “Do we want it to end like Lehman Brothers, like the old financial system? Or would we like this story to end differently? Would we like this story to end in a way that demonstrates the power of the open source community and blockchain and Bitcoin?” The post Bitcoin [BTC]: Mt Gox redemption plan demonstrates the power of open source network, says Brock Pierce appeared first on AMBCrypto.
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Brock Pierce, Mark Karpeles and the War of Words Over Mt Gox’s Future

Brock Pierce, Mark Karpeles and the War of Words Over Mt Gox’s Future Brock Pierce wants Mt. Gox creditors to receive 100 percent of whatever they’re owed – or so he says, anyway. Weeks after announcing Gox Rising – his ambitious effort to unite the long-defunct exchange’s creditors, submit a civil rehabilitation plan and relaunch the Mt Gox exchange… The post Brock Pierce, Mark Karpeles and the War of Words Over Mt Gox’s Future appeared first on Altcoin Today.
Altcoin Today

Brock Pierce Is Determined For A Mt. Gox Revival, Says His Plan Would Show The Power Of Bitcoin

Mt. Gox was a huge punch in the gut of the crypto industry, and Brock Pierce has been very public about his intentions of reviving the platform to help rekindle the lost funds. Legal work has been underway for a while to bring back the funds to the people who lost them, but he is unsatisfied with the timeline and has continually spoken with the media about his Gox Rising plan, which would be the name of the revival. Even though the public has given mixed reactions over what they think of this option, Pierce maintains that the actions of the community have not fallen by the wayside, comparing it to that of the Lehman Brothers. In an episode of the Keiser Report, Pierce said, “Do we want it to end like Lehman Brothers, like the old financial system? Or would we like this story to end differently? Would we like this story to end in a way that demonstrates the power of the open source community and blockchain and Bitcoin[?]” The interview actually starts off with a discussion that brings former CEO Mark Karpeles into the mix, which is a given. Pierce states that his company had originally tried to purchase Mt. Gox several times when it was still active. He even pursued it again in early 2014, shortly after the platform imploded and saw major thefts, but the story has been muddled over whether a deal happened. While Karpeles claims nothing transpired, Pierce has continually provided a conflicting response. He even alleges that Karpeles offered to sell it for a dollar, to which the interviewer confirms that Pierce had told him those intentions at the time. Years later, and in conjunction with a claim from Coinlab for $16 billion that could inhibit the payback of creditors, the frustration is just beginning. After repeatedly calling Mt. Gox and Karpeles “dirty word[s],” he adds, “I just want to make sure that creditors get all [the surplus funds] and Mark Karpeles gets zero. The only reason Mark Karpeles should care about who owns [Mt. Gox] is because he cares who potentially is the beneficiary of that potential surplus.” Right now, everything is still in the air with the civil rehabilitation process, which has been the source of a lot of criticism from creditors and the general public. Nobuaki Kobayashi, the court’s trustee, had previously been going through the liquidation of the funds to pay out the creditors, Bitcoin’s price dropped substantially. However, there are suggestions that his decision to sell the Bitcoin in huge amounts could’ve taken down the price. Karpeles has continually said that he has not been a participant in the wrongdoing of this case, even with the calls from the prosecution to lock him up for a decade. For all intents and purposes, Karpeles is still the CTO, which leaves Pierce in a bit of a conundrum until he legally owns the name and the platform.
Bitcoin Exchange Guide

Brock Pierce Set to Make Mt. Gox Great Again, and Here’s How

CoinSpeaker Brock Pierce Set to Make Mt. Gox Great Again, and Here’s How Weeks after announcing Gox Rising, his ambitious effort to unite the long-defunct exchange’s creditors, submit a civil rehabilitation plan and relaunch the Mt Gox exchange itself, Pierce, a prominent crypto-entrepreneur, is walking back just how concrete these plans are. Gox Rising was launched as an alternative to Mt Gox bankruptcy trustee Nobuaki Kobayashi’s civil rehabilitation effort. Billed as a way to ensure creditors receive as much of their money as possible, the organization has published a proposed plan on its website, alongside a list of goals. Two points, in particular, stand out: under the Gox Rising plan, no further Bitcoins from Mt Gox’s estate would be sold, and “equity holders will make no claim on any of the cash held by the trustee,” according to the proposal . Pierce, who has gained mixed reactions to his ‘Gox Rising’ scheme, said community action was key to ensuring the defunct exchange did not become a cryptocurrency “Lehman Brothers.” He said: “Do we want it to end like Lehman Brothers, like the old financial system? Or would we like this story to end differently? Would we like this story to end in a way that demonstrates the power of the open source community and blockchain and Bitcoin?” The ongoing Japanese legal process seeks to determine how the exchange’s current assets (~$1.2 billion) will be distributed to the creditors, who are endeavoring for a Civil Rehabilitation Plan with the courts. Mt. Gox’s hack and subsequent fallout are seared into the memory of the Bitcoin community. However, five years later, creditors still have not been reimbursed for their losses, the case remains stuck in the hands of bankruptcy courts, and new caveats in the convoluted narrative continue to emerge. On top of that, CoinLab, a US-based company has recently revised its original $70 million breach of contract lawsuit of Mt. Gox to $16 billion, so that creditors may receive nothing if the CoinLab lawsuit wins. Just for reminder, Mt. Gox was a Bitcoin exchange based in Shibuya, Tokyo, Japan. Launched in July 2010, by 2013 and into 2014 it was handling over 70% of all Bitcoin transactions worldwide, as the largest Bitcoin intermediary and the world’s leading Bitcoin exchange. In February 2014, Mt. Gox suspended trading, closed its website and exchange service, and filed for bankruptcy protection from creditors. In April 2014, the company began liquidation proceedings. Mt. Gox announced that approximately 850,000 Bitcoins belonging to customers and the company were missing and likely stolen, an amount valued at more than $450 million at the time. Although 200,000 Bitcoins have since been “found”, the reason(s) for the disappearance—theft, fraud, mismanagement, or a combination of these—were initially unclear. Most or All of the Missing Bitcoins were Stolen New evidence presented in April 2015 by Tokyo security company WizSec led them to conclude that “most or all of the missing Bitcoins were stolen straight out of the Mt. Gox hot wallet over time, beginning in late 2011. By May 2016, creditors of Mt. Gox had claimed they lost $2.4 trillion when Mt. Gox went bankrupt, which they asked be paid to them.The Japanese trustee overseeing the bankruptcy said that only $91 million in assets had been tracked down to distribute to claimants, despite Mt. Gox having asserted in the weeks before it went bankrupt that it had more than $500 million in assets. The trustee’s interim legal and accounting costs through that date, to be paid ultimately by creditors, were $5.5 million. And also don’t forget that at the beginning of this month we wrote of how it had been five years since the hack of once most popular Bitcoin exchange Mt. Gox which lost 850,000 Bitcoins tokens overnight. However, the exchange has kept the Bitcoin community engaged and interested with several mysteries attached to it. Mt. Gox CEO Mark Karpeles is facing serious allegations of siphoning millions of dollars worth investors’ funds. There is also a possibility that Karpeles could face a 10-year jail term on charges of embezzlement, data manipulation, and breach of trust. Despite all this, venture capitalist Brock Pierce has arrived with a recovery plan to help the victims of the Mt. Gox hack. Pierce is popular in the crypto-investment space and has backed billion-dollar projects like EOS and Tether, in the past. Brock Pierce Set to Make Mt. Gox Great Again, and Here’s How
Coinspeaker

Brock Pierce: My Mt. Gox Redemption Plan ‘Shows Power Of Bitcoin’

Venture capitalist and ex-Bitcoin Foundation director Brock Pierce thinks his plan to take over the Mt. Gox rehabilitation process “demonstrates the power of open source.” Avoiding Crypto ‘Lehman Brothers’ Speaking on the latest edition of the Keiser Report February 16, Pierce, who has gained mixed reactions to his ‘Gox Rising’ scheme, said community action was key to ensuring the defunct exchange did not become a cryptocurrency “Lehman Brothers.” “Do we want it to end like Lehman Brothers, like the old financial system?” he reasoned. Or would we like this story to end differently? Would we like this story to end in a way that demonstrates the power of the open source community and blockchain and Bitcoin[?] ‘Visceral Hatred’ Pierce’s company attempted to acquire Mt.Gox from former CEO Mark Karpeles several times while it was still functional. After its implosion in early 2014, Pierce tried again, but no deal emerged. Five years later, amid new controversy circling around a $16 billion claim by Coinlab, which could jeopardize creditors’ chances of receiving lost funds, frustration is showing. “I just want to make sure that creditors get all [the surplus funds] and Mark Karpeles gets zero,” Pierce continued. The only reason Mark Karpeles should care about who owns [Mt. Gox] is because he cares who potentially is the beneficiary of that potential surplus. Pierce did not dispute Keiser when the latter summarized he had a “visceral hatred” of Karpeles. As Bitcoinist reported, the lengthy civil rehabilitation process for Mt. Gox’s creditors has sparked various criticisms in the past. During the time when trustee Nobuaki Kobayashi was liquidating funds to pay them, the Bitcoin price underwent several dramatic downturns. It later emerged that Kobayashi was likely selling huge amounts of Bitcoin on public exchange BitPoint. Karpeles continues to deny any wrongdoing as his court case winds down, with prosecutors in December nonetheless calling for a ten-year prison sentence. He remains CTO of Mt. Gox, under Kim Nilsson, who lambasted Pierce’s plans in a dedicated blog post earlier this month. What do you think about Brock Pierce’s perspective on Mt. Gox? Let us know in the comments below! Images courtesy of Shutterstock The post Brock Pierce: My Mt. Gox Redemption Plan ‘Shows Power Of Bitcoin’ appeared first on Bitcoinist.com.
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Crypto News: Elon Musk Talks Bitcoin and Binance Expands

The cryptocurrency market had quite the shakeup last week, causing a spike in most digital currencies. On Valentine’s Day, six days ago, JP Morgan announced that it would launch a test for its new JPM coin. This was the biggest crypto news to surface in quite some time. Now, digital currencies seem to have corrected, and most are trading red today. In today’s crypto news, we’ll discuss Elon Musk’s interview and the details behind him calling Bitcoin “quite brilliant.” Also, we’ll look into Binance’s new testnet they just released. Crypto News: February 20th, 2019 Elon ... ﾿ Read The Full Article On CryptoCurrencyNews.com Get latest cryptocurrency news on bitcoin, ethereum, initial coin offerings, ICOs, ethereum and all other cryptocurrencies. Learn How to trade on cryptocurrency exchanges. All content provided by Crypto Currency News is subject to our Terms Of Use and Disclaimer.
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XRP, BTC and BNB Price Analysis and Prediction

XRP achieves  a high of $0.35499 BTC Targets $4000 level BNB gets over $10 level XRP/USD The rally by XRP in the last few days seemed to have gained momentum as the currency yet again achieved new highs, before tracing its way back to its current level of 0.3380 as of going to press. XRP managed to weather off the bearish engulfing at the dawn of 19th as the bulls managed to strike a price reversal on the upwards and pushed the currency price to a new high of 0.35499. This didn’t last for long though as the bears came calling and pulled the price down to a low of 0.32820. Later, a death cross pattern was formed when the 21 day MA crossed over the 7 day MA seemingly signaling that the price would fall down even further. True to this, the bears pulled the price further down to a low of 0.32363. XRP Forecast Looking at the Moving averages, it seems that an intertwining is imminent.The RSI is between 40 and 60, seemingly portraying that the currency is set to trade sideways. This scenario would be ideal for an intra-range strategy with support levels at 0.32363 and resistance at 0.3521. BTC/USD The price of BTC seems to be striving to achieve and outlive the 4000 territory. Even though there have been instances on the last 24 hours when the bears have pulled the priced below the 4000 mark, the price is currently above $3980 with its next target set for $4000. The RSI is at around 60 seemingly signifying that the price should be headed for consolidation before the next rally. The 7 day and 21 day MAs are also seemingly getting intertwined. This may portray that sideways trading may be in the offing. BTC Forecast The current scenario is ideal for range bound strategies that would set the resistance levels at 4050-4100 and support at 3950-4000. Traders can go long if the price bounces back from the support levels and go short if it pulls back from resistance levels. BNB/USD In the last couple of days, BNB has been experiencing bullish growth last seen in 2017 when it was launched. Currently, RSI levels are close to 70 seemingly portraying that the currency is at overbought levels. The 7 day MA is still maintaining a significant margin against the 21 day MA. Recent efforts by the bears to pull the price back below 10 have borne no fruit. As it is, the currency seems to find solid support at 10.50. BNB forecast Current candle stick formation seems to point to a rising wedge. This may mean that a breakout is imminent and the price may be pulled back. If a breakout occurs, traders can go short and put their support levels at 10.50. The post XRP, BTC and BNB Price Analysis and Prediction appeared first on ZyCrypto.
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Crypto Firm Gladius Tattles on Itself Before SEC Brings Down the Hammer

The SEC acknowledged a settlement with Gladius Network LLC today. Gladius raised almost $13 million in an ICO at the height of the crypto boom, from October to December 2017. The company tattled on itself last August, self-reporting potential violations to the SEC. As a result, the regulator has been gracious enough to opt not to impose additional financial penalties on Gladius. The catch? Gladius has to offer refunds on all ICO tokens. Gladius Reports Itself to the SEC The settlement is similar to the agreement NEO reached with Chinese regulators. In the case of NEO, the token had already The post Crypto Firm Gladius Tattles on Itself Before SEC Brings Down the Hammer appeared first on CCN
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Elon Musk Praises Bitcoin: “Paper Money is Soon Going Away”

Notorious billionaire and entrepreneur Elon Musk once again expressed his enthusiasm for cryptocurrency and blockchain technologies in the latest episode of ARK Invest’s FYI podcast: “On the Road to Full Autonomy With Elon Musk,” courtesy: bitcoin.com In an interview for Tasha Keeney, Musk pointed out several advantages that cryptocurrencies have over traditional fiat money. For Musk, the future of finance goes hand by hand with a global adoption of cryptocurrencies as a means of payment. Musk supported Jack Dorsey’s idea that Bitcoin could become the native currency of the internet. This notion, which he described as “interesting” has been shared by several influencers such as Tone Vays, Jimmy Song and Max Keiser, who consider that although altcoins have important uses, Bitcoin is the best candidate to become the equivalent of money 2.0. Elon Musk: Bitcoin is The Future… But We’re Not There Yet However, aware that there is still a long way to go for cryptocurrencies to replace fiat money, Musk commented that at the moment he does not plan to invest in developments related to this technology, or even experiment with its use in Tesla: “I think that the Bitcoin structure was quite brilliant, it seems like there’s some merit to Ethereum as well, and maybe some of the others. But, I’m not sure if it would be a good use of Tesla resources to get into crypto.” Musk pointed out that one of the advantages of using crypto is precisely that it gives users the freedom to carry out financial transactions without the restrictions imposed by banks or government agencies. When Keeney commented that certain governments impose restrictions on some inhabitants, Musk pointed out precisely that the cryptos were born to combat this excessive control and that in the future, fiat money as we know it “is going away.” “It bypasses currency controls. Paper money is going away, and crypto is a far better way to transfer value than pieces of paper.” Musk has had a presence in the community for his optimistic statements and vision of the role blockchain technologies will play in the society of the future. Previously during the scams boom on Twitter, Musk jokingly commented  At this point, I want ETH even if it is a scam — Elon Musk (@elonmusk) August 28, 2018 The post Elon Musk Praises Bitcoin: “Paper Money is Soon Going Away” appeared first on Ethereum World News.
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