Bitcoin Forum

Bitcoin @ $119

Is the bubble all done already??

I know MtGox price is distored, but below $150 is frightening

Yep. The dysfunctional exchange known as MtGox has decided to end Bitcoin. Please destroy your wallets and shut down any Bitcoin related software at once.

Thanks for the heads up!  :D

I just deleted mine and hit everyone I ever discussed Bitcoin with over the head with a log. I've done my bit.

lol.

Yes, to all newcomers: bitcoin is game over. 
too bad, but it is what it is, take it to the museum.
I'm still willing to take all your bitcoins for $1, so you can at least get something out.
please PM

Stupid thread is stupid?...Yep. 

Temp bans should start being handed out for stupid threads/behavior. Would make this site so much more informative and tolerable.  ...wait something intelligent?  whoops forgot what site I'm on. Continue with your regularly scheduled FUD.

GOX @ $119

Important difference, Apocalypse Boy.

jawohl Herr Führer.

i'll outbid you, $2 !

Gox @112 less then hour before double-digits. This will influence confidence of traders on other exchanges, at least I think so... 100 is a significant number

Only until it doesn't. These final ties will eventually be severed and the decoupling will be complete.

yes but good news, you can try again

Bitcoin isn't at $119 unless you would like to sell me some of your coins at $119?

The GoxCoinIOU / GoxBucksIOU exchange rate is at $119.

Gox is over, not bitcoin :)

114$ atm I would buy BTC if I had fiat on gox and I would sell some here https://bitcoinbuilder.com/

I don't understand why they wont suspend trading if exchange is not functioning properly.

Gosh, I could easily liquidate on BitStamp, Coinbase, or with SecondMarket for over $550/BTC, but the crash is happening on Gox so I should probably send my bitcoins there to sell.  Yes?

Because then they wouldn't be able to just steal everyone's BTC and arb the fuck out of them.......of course!  :D


I can confirm that this would be a fantastic idea.

How else could they arbitrage their own exchange and pay off their bills?

I knew you wouldn't be able to resist coming back at these levels of drama :D

bitstamp and others are still holding strong but if/when mtgox resumes btc withdrawals, the price will crash everywhere else.
we might even see low 2-digit number on mtgox before this^ happens

I smell cheap coins.

I mean, I know Gox is pretty fucking incompetent, but it boggles the mind how they could be in debt after all the fees they've been scalping from their victims customers the past few days.

I haven't heard anyone mentioning what I speculate happened, so time to throw my voice (https://xkcd.com/386/) into the crowd.

We have a situation where MtGox has without warning disabled bitcoin withdrawals, then a couple days later announce/accuse a hole that permitted someone from getting more bitcoins than they deserved.

Days later another popular "exchange" (http://reason.com/blog/2014/02/13/more-bad-news-for-bitcoin-silk-road-ii-h) said they were affected by the same vulnerability and had their entire wallet stolen by the process.

MtGox states that they are in full compliance with Japanese law, which requires all exchanges to be fully solvent while they are running.

What I speculate may have happened is that MtGox's online wallet was completely drained by this exploit and that may have caused bitcoin withdrawals to end.  They may have been smart and had an offline wallet as well (so they aren't completely bled dry) however being a very popular exchange they likely lost a large chunk of their coins in the process and are now bitcoin-insolvent.  They are still operating within the law in this case because Japan doesn't know what bitcoins are yet and they are still fully fiat-solvent.

It also means that their goal would not be to attract more dollars, but try to find some place to get more coins from.  Metering bitcoin withdraws at the beginning would make sense (until they run dry).  I believe they're also scrambling over trying to improve their code to plug the hole, especially with feedback (in threads on this site) as to how low their server code quality is.

this exactly (its why I've taken a risk).

not saying they aren't, but if they are, then I'm buying shares in starbucks because there next quarterly report is gonna be through the roof ;)

Network Security Dispatched.

Foreign Thread Eliminated.

Access Denied.

Game Over.

Don't you understand? The Modus Operandi of mtgox is to do absolutely nothing. That includes halting trading on their exchange.

http://stream1.gifsoup.com/view7/20140220/4983972/gameover-o.gif

GAME OVER MAN! GAME OVER!

Nah, don't worry. I have a few friends at the NSA who owe me a favour and I'll ask the to install a backup of the internet (including the blockchain) from November 2013.