High court upholds Karpeles conviction for data manipulation

Karpeles' defense team argued that prosecutors did not understand how cryptocurrency exchanges worked and were trying to pin the blame for a massive cybercrime on Karpeles, who was just a victim trying to protect his clients.

Yep. I agree with that.

It's sad, really sad.

The MOJ is untouchable.

Someone clearly wanted to accuse him of something, no matter what ?

I guess they couldn't the "Sneezing without putting one's hand up in front of one's nose" to stick.

 why should it be expected that when something goes wrong, some country or government will step in to 1) stand behind the claimed value of the cryptocurrency and 2) refund or arrange that someone else refunds the people who were bilked?

Seriously? You believe the government has no obligation to investigate theft? (Number one is just something you made up. There is no demand for that.) You believe that the government's responsibility to the people hinges on the people using that governments currency?

But out of interest, how do you envisage these people having their "funds" returned to them: in what form should those funds be, and specifically who is to pay for it?

No idea. It's complicated, isn't it?

Because one thing about cash compared to crypto: it has backing, it represents something real, and it has a value that is commonly understood to the maximum number of people. That's why it rarely inflates to 10 times its value in a few years.

Instead it loses value. Takes almost $11 to buy what $1 could buy in 1950. But as you said, backing is important. The US dollar's value is almost entirely based on debt and trust, like a Ponzi scheme. It represents nothing real, unless you believe the promises of politicians are real. And it is manipulated and printed to suit those in power. A good crypto cannot be printed. It depends on trust in the code, which has been growing. The government uses its monetary system to control people. Crypto is free of that.

Sure, crypto can crash. But, to date, every single fiat currency has also collapsed. When the dollar collapses, maybe before, people will be forced to go cashless. At that point, every transaction you make will be monitored. Every penny will be taxed. And if you are buying, selling anything the government doesn't like (a book, a movie, maybe tobacco, alcohol or unapproved vitamins or medications), they can stop it instantly. They can freeze your account so you can't spend or receive money. Not even a penny. They will have absolute control over your consumption and activities this way.

Black Lives Matter could be shut down in an instant, for example. Or Sony could seize a large chunk of your money because you downloaded a song without permission. Instantly.

This is one reason why crypto is gaining interest, and gaining value. Most people are becoming aware that their governments and central banks are conning them.

The police are government, unless you live in a place where they are privately funded. The article above is an example of the government helping to recover stolen property. I have no idea what you mean by "defining and redefining according to their own convenience."

 It is not the responsibility of governments to prop up cryptocurrencies or the people who buy them. Speculation is risk, and certain kinds of speculation are particularly risky.

No disagreement there. I never suggested otherwise. Sadly the government takes responsibility (if one can call it that) for many things it shouldn't be involved in. Free markets for one.

Mark is a gaijin

Of course everybody will take the blame on him.

Same as Nissan, all gaijins are to blame.

Same as CODVID, miall gaijins are to blame.

Stay in your bubble and blame the minorities.

Funds?

Oh, you mean the real money that people trustingly swapped for cryptocurrency.

Yes. And that cryptocurrency is now worth 10 times more in "real money" than what it was at its peak before the Mt Gox scandal. Sorry you missed the boat.

I hope this means there may be some progress in the legal case for the return of the lost funds for customers.