Truly shocking the price is, I paid 10K, and it's at 0.17K wow, this has to be a record for the worst loss in history, I',in so deep now I may as well stay in till 1 satoshi.
Why do people keep getting their math wrong? You paid 10,000 satoshi and it is now at 1,700 satoshi. 10K to 1.7K not .17K |
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for 18 hours? very short term
5 zeros... not four. |
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I am having big problems believing GOX lost 800.000 bitcoins in a couple of years because of the transaction malleability issue.
What if Gox , while it was growing in size, just like the banks decided: "We do not need to hold 100 percent of customer bitcoin in reserve, because at no time will all the customers withdraw all their bitcoin from Gox. "
and then instead of lending out customers bitcoins to others, for interest, Gox decided to simply sell a percentage of the customer bitcoin they held in reserve huh ?
They could not lend out coins they had in reserve because the public would then immediately realize Mt. Gox was fractional reserve banking bitcoin, but if they just sold them on gox themselves pretending it was customers selling them, nobody could find out.
If Gox did this then they were fractional reserve banking bitcoin, diluting the amount of coins (IOU's from Gox) poeple believe they have, and have been driving down the price of bitcoin.
Agree. This is exactly what happened. They shorted the market possibly April 2013 and could not recover when the market went up. It is plausible because you can account for all deposits that went in and withdrawals. Accoring to Mt.Gox leaked file 951K BTC are supposed to be in accounts, but net BTC balance is only 450K. So where did the other 501K BTC disappear to? The block chain should have a record. But it doesnt. that is because the 450 BTC never existed to begin with. |
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Interesting Techcrunch article: http://techcrunch.com/2014/03/09/mt-gox-hack-allegedly-reveals-bitcoin-balances-customer-account-totals/According to the article: Anonymous hackers have defaced Mt.Gox CEO Mark Karpeles’ blog and have uploaded a data dump of customer data that, according to users with accounts on the site, is accurate. A Reddit user created an Excel spreadsheet [mirror] of anonymized user accounts with balances, and many current Mt.Gox users have found their balances present.
The text of the post reads [NSFW]:
*** SAVE THIS POST, MIRROR THE FILES, REPOST, SHARE AND KEEP THIS DATA AVAILABLE ***
http://blog.magicaltux.net/wp-content/uploads/2014/03/MtGox2014Leak.zip
http://89.248.171.30/MtGox2014Leak.zip
First and foremost, this is not Mark Karpeles. Fuck that bitch-titted motherfucker.
It’s time that MTGOX got the bitcoin communities wrath instead of Bitcoin Community getting Goxed. This release would have been sooner, but in spirit of responsible disclosure and making sure all of ducks were in a row, it took a few days longer than would have liked to verify the data.
Above you will finding download link and a mirror used without asking from Mark Karpeles very own blog.magicaltux.net.
Included in this download you will find relevant database dumps, csv exports, specialized tools, and some highlighted summaries compiled from data. Keeping in line with fucking Gox alone, no user database dumps have been included.
Repost and share this info before it’s gone. Lots of people, including us, lost money and coins. Upvote this post.
We stole no bitcoins. There were none to steal. If you want to donate, you can keep us full of pizzas and beers by sending coins here, 1859rayqN1X7DYjD1BrAHm4vaQxoUhhzsN .
Balance SUM for ALL USERS by currency.
[][][][][][][][][][][][][][][][][][][][][][][][][][][][][][][]
Currency: AUD Balance: 924,124.65121
Currency: BTC Balance: 951,116.21905382 <– That fat fuck has been lying!!
Currency: CAD Balance: 320,184.36558
Currency: CHF Balance: 99,487.07308
Currency: CNY Balance: 297,775.78994
Currency: DKK Balance: 112,264.56207
Currency: EUR Balance: 5,634,625.59531
Currency: GBP Balance: 921,892.96793
Currency: HKD Balance: 740,519.14894
Currency: JPY Balance: 384,885,150.13700
Currency: NOK Balance: 91,346.00305
Currency: NZD Balance: 58,224.95320
Currency: PLN Balance: 1,645,194.67364
Currency: RUB Balance: 551,162.54477
Currency: SEK Balance: 15,335.84383
Currency: SGD Balance: 43,193.59706
Currency: THB Balance: 666,464.33497
Currency: USD Balance: 30,611,805.67481
[][][][][][][][][][][][][][][][][][][][][][][][][][][][][][][]
Total BTC Deposits: 19,065,241.307202
Total BTC Withdrawl: 18,563,466.149383
————————————
BTC Difference: 501,775.157819
[][][][][][][][][][][][][][][][][][][][][][][][][][][][][][][]
The most important number, obviously, is the 951,116.21905382 balance. As you recall, Mt.Gox filed for bankruptcy while stating a 850,000 BTC loss. This would suggest Karpeles’ estimates were off by a large margin. Whether all of this is accurate or not is an entirely different manner. What the leak does show us is how easy it was to grab nearly all of Mt.Gox’s user data as well as how hardened Karpeles’ blog was. Furthermore, the files contain the app Mt.Gox admins used to manage transfers. A screenshot appears below.
Who hacked Mt.Gox? The leak contains some clues. A visit to the above-mentioned mirror brings a link to the zip file and a note: “I hated working with you. You deserve everything you get for what you did.”
Explain to me how they were able to get BTC out off Mt.Gox with it not showing in the blockchain? Were is the evidence of Bitcoin withdrawals? |
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.00005 was not the orignal floor 150 satoshi was. without all the hype, pumpers, go look on cryptorush, anyone who bought at 100-300 satoshi loaded up during the first few week's then they all dumped it, if there is no more news price will keep dropping
im not sure but im positive there was a select group that new this was gonna blow to the roof, they bought millions and shat on everyone now they live in a mansion end of the story.
Apologies, I meant .0000 05 was the short term floor. |
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Source http://techcrunch.com/2014/03/09/mt-gox-hack-allegedly-reveals-bitcoin-balances-customer-account-totals/Currency: BTC Balance: 951,116.21905382 Total BTC Deposits: 19,065,241.307202 Total BTC Withdrawl: 18,563,466.149383 ———————————— BTC Difference: 501,775.157819Mt.Gox in their books show that there is a 951K BTC in accounts. However, BTC deposits and withrawals only show a net 501K BTC in accounts. So, the 450K BTC shortfall that Mt.Gox is claiming that was 'stolen' did not go out of the BTC Blockchain. In summary, the 450 BTC that Mt.Gox claims are VIRTUAL BTC. Likely BTC that Mt.Gox sold to customers (thus inflating their balances) does not exist and never existed. |
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Every dev, unless their morons, would promote their coin and ask people to buy/invest. Its the whaling bastards that pull the rug out and make massive dumps. A dev that does that from a premine might be able to get away with selling a fraction of it once, but then its goodbye reputation and future profitability.
Nobody has sold any of Maza premine, there is no scam evident here whatsoever.
I agree here. It is not possible to sell 50 million MZC without sinking the price big time. As I said in a much earlier post, just like the previous down turn, the market can make it very painful to hold the coin. You will know that it is time to buy when you see several 100,000 MZC sell orders in the order book. That is what it looked like at the bottom of the previous run. I'm buying back in when I do see capitulation by the short term holders. |
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The difficulty is still really high, so the miners don't look like they've given up yet on this coin.
For those who invested, it takes impeccable timing to profit.
The problem with MZC is that it is in what they call the 'inflationary phase' of a coin. At this time, there are too many coins created per day relative to the number of coin that is in circulation.
My recommendation:
(1) .00005 was the original floor. If in the short term it gets near that price, it would be a buy.
(2) MZC still needs to sort out its legal standing with the tribal council. This is catch-22, it will get approval if successful, however it is hard to be successful without the legal approval.
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If you look at the design of MZC, it is designed for the long term, and not a pump and dump.
Mining subsidy is for 5 years up to 2.4 billion coins.
Merge mining is in the plan.
The thought behind the pre-mine of 50 million coins (just 2% of the total) is that it becomes a circulating currency.
So let's say after 5 years, MZC is a successful currency. Let's give it a market cap of 500 million. That would mean the price of MZC would be 20 cents. It is right now at roughly 2 cents. So a 10 fold increase in 5 years is indeed not bad.
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Appears there indeed is an awareness of crypto-currencies. |
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Thanks AMT for the update!! Keep up it and lets get shipping !!!! Is the power supply going to fit? I wonder if it is FCC regulations that require AMT to include a case? |
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Yeah you may have to wait a lifetime in vain for that. Devs went silent on their 2 twitter feeds. Also on the official forum you find this disturbing statement: "Are you guys associated with any of the american indian groups? For example the Assembly of First Nations or American Indian Movement?"
The AIM movement is currently not a fan of MazaCoin. Because the developers (myself included) are white. They believe it to be a "white man's scam" at this point. As for First Nations there may be more sympathy there, but so far they are silent.
http://cryptominers.freeforums.org/getting-associates-t26.htmlAlso, it would seem Payu is not even a member of Lakota and Forbes claimed that Harris was a member of the tribe, however, there is no one on the rolls named Payu Harris or Payu Kimitsu. http://www.indianz.com/News/2014/012781.asp Confirmation on Twitter from the same author https://twitter.com/BEcoffeyNSwkly/status/442316016803004416also Attempts by Native Sun News to contact Harris went unanswered and an interview request was declined by Harris earlier in this year. on top of this someone claimed Payu claimed he's Northern Cheyenne not Lakota. Why didn't he create a coin for for the Cheyenne? Doesn't this all sound like BS to you? Well, looks like a lot of stuff needs to be cleared up. Will get back in if that happens. Meanwhile, I regret not having sold at 18K, but at least I bought early enough to make enough BTC on this. Later folks! |
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(2) ...But no need to burn since IXC is the native currency! Only issue is that it requires the new 0.8.6 client (due to the OP_RETURN opcode ).
Clever! Would the client be implemeted directly to the IXCoin client? If all that it requires is the OP_RETURN, then IMO this should be the first extra feature added to IXC. I am really trying my best to move things forward here, but as you can see with the discussion, there's so many other moving parts!
Yes, I see. In order to keep the ball rolling and your focus on this project, I'll donate 5000 IXC to you (PM me your IXC address). Thanks! The CounterParty code base inclusion would be pretty cool. |
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Are people interested in the Counterparty implementation?
Of course that would be interesting. Why I see IXC promising, is that it has the superb security (through merged mining), but (unlike BTC) still has the flexibility to add easily things developed last 2-3 years. That said, how are you planning to implement it? IMO, there are essentially two ways: 1. native to IXC. IXC is the native currency, and all features of Counterparty protocol (apart from "burn" of course) https://github.com/PhantomPhreak/Counterpartywill be implemented directly to IXC protocol. 2. copy Counterparty directly (i.e., create IXC version of Counterparty). Possibility 1. (my personal favorite) is very likely technically demanding as it has not been really tried anywhere, and requires a lot of testing AFAI can see. Possibility 2. on the other hand, requires either that we'll have "IXC burn period" some time in the future (or someone comes up with a way of transfering actual XCPs from the bitcoin blockchain to ixcoin blockchain). If I recall reading correctly, there were arguments why there were a specific burn period in Counterparty instead of that you could burn bitcoins forever. (2) ...But no need to burn since IXC is the native currency! Only issue is that it requires the new 0.8.6 client (due to the OP_RETURN opcode ). So this port will have all the counterparty features like Betting running on IXC. I am really trying my best to move things forward here, but as you can see with the discussion, there's so many other moving parts! |
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I didn't even know there was a hard fork planned.
-MarkM-
I believe the bip's will cause a hard fork. They change the rules for adding blocks in certain situations. We shouldn't take it lightly. It would be very bad if iXcoin splits in two. The block number at which they come into effect would be many months into the furure though wouldn't it? I do agreee though that it is crazy to muddy up the merged mining test with such extraneous stuff. We need merged mining. BIPs are way the heck less important, not worth aborting the moving to new codebase for. Basically we should port what IXCoin already was to the new codebase first and make sure that works, before adding new BIPs or coloured coins or anything else that IXCoin doesn't already have/do. Well the memory fix stuff from I0Coin of course, since if it wasn't for the need of all merged mined coins to get that fix we wouldn't be in any hurry to update to new code at all. We don't want to break stuff we just want to fix the RAM problem the merged mined coins all had in common. -MarkM- Agree with you that the BIPS or colored coins will have to wait. That is why I had originally thought of doing this with the next release of Bitcoin. But it appears that there is so much legacy here that we are forced to be conservative. |
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I pledge 10,000 NXT
926,948 Pledged. The offer will close at 950,000 Nxt Pledged. The remaining 50,000 Nxt will go to those who have previously pledged under 1,000 Nxt and are not recorded in the spreadsheet. So there is roughly 24,000 Nxt remaining to be pledged. |
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Are people interested in the Counterparty implementation?
I haven't heard any feedback on this proposal other than the cost to do it.
C'mon folks!! Counterparty is at 10m USD, we can add the same functionality to IXC!
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How can anyone sell under 5? Let alone 3....this is crazy
When you have mined a shit load, the price doesn't matter that much. Well that's what's unbelievable about Bitcoin, there are always miners that want to unload their coins to pay for electricity and mining, yet it stays up. The question for MZC is, what is the equilibrium price. |
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