Did Andy Booth Lose His Bitcoins from the Sale of Gox.com?

Mar 05 2014

Most people know of the sale by Andy Booth of Gox.com to Mt. Gox and the subsequent bankruptcy that followed (of Mt.Gox not Andy).   I knew that Andy had received Bitcoins of part of the deal and was curious if he had lost any with the closure of the company.  You will be relieved to know that he still has all the coins and they’ve actually gone up in value.

Andy didn’t net quite as much as you’d think after he paid the broker and his brother but part of the deal was he got $5K in Bitcoins.  And here’s the Kicker.   Mark Karpeles, the CEO at the time, suggested that Andy take the Bitcoins out of Mt. Gox.  He even walked him through the process of putting them in a cold wallet.  In the words of Andy,  Karpeles “explained how it works, told me to download the protocol on bitcoin.org and suggested I password encrypted it

Evidently Andy was getting a heads up and didn’t even know it. By pulling the coins out he kept his money and it even went up 20% in value since.  If only Karpeles would have given that advice to a few more people.

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Outsmarting the Dumb, Outworking the Smart

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