You are comparing the demise of an tor drug market to the demise of one of the biggest exchanges with the biggest holdings?
looking at the seized btc stash from DPR I think it is a fair comparison No it isn't. Not even in that perspective, because the sums that are involved with gox are much bigger. But the more important aspect is the confidence. Bitcoin is no longer just play money that is run by drug dealers. Currently it is pushed by legal financing. If some drug market goes bust, then it means nothing in the legal field. Investors with legal interests are even happy to see that bitcoin is distancing itself from drug trade. But when a big exchange goes bust, that is the intermediate link between BTC and $, then the entire system will be questioned. If gox can get away with "sorry, but the money seems to be gone", then people will question what stops the other exchanges from doing the same. After all, there are no repercussions. Not to mention that drug dealers/buyers won't be seen talking on TV, how they lost their drug money. But we will see fathers of 3, who will tell their stories, how bitcoin promised them riches, but instead wiped them dry. Thats correct ----SR made clear that BTC works as criminals get prosecuted...MT.Gox is doing the opposite !! BTC is fucked if theft thereof doesn´t mean jail time for everybody involved ( Ponzi-passthrough operators) rather than a lifetime seat at the "foundation"  bought at bitcoi |
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Fact is, the *exact* same argument ("this will scare away new investors!") was made in September last year when Silk Road was taken down.
The *exact* same argument was made when price dropped sharply from ~260 to ~60 in April last year.
In either of those cases, nothing like that happened. In case of SR, it was particularly stunning how the brief flash crash (that did happen as a result of the news) revealed a solid underlying buying pressure that was lying dormant until then. It started the rally that led to the December ATH, in fact.
Please note what I am saying vs. what I am *not* saying: I don't claim to know whether the bear market just reversed. Just that looking at an "objectively bad" news item and concluding it will negatively affect price will get you nowhere in market analysis. It's simply not how the human mind seems to work, collectively: any event is interpreted in a highly contextual framework. And right now, I would be careful to conclude that the result of that interpretation is going to greatly depress price (see, e.g., the very solid recovery to ~600, or the huge jump in USD on the Bitstamp order book)
You are comparing the demise of an tor drug market to the demise of one of the biggest exchanges with the biggest holdings? Drug misuse and their insider dealings are prosecuted... BTC exchange -owners and board member of bitcoinfoundation not. So obvious whom you´d rather trust |
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So how can it be "more or less" legit when Mt.Gox did not produce the document.
I would imagine because it was produced by a consultant or somesuch working for an interested party. If it was a consultant paid by Mt.Gox then that would mean Mt.Gox produced the document. Anyway, he's trying to disassociate himself with his own proposal. That's what it look like. Let's assume the numbers in the document are correct. http://www.scribd.com/doc/209050732/MtGox-Situation-Crisis-Strategy-DraftClaims that everything is missing. THe 740K includes customer accounts and Mt.Gox accounts. Then is the interview with Fox he says... "technically speaking, it is not lost yet, just temporarily unavailable" In summary , he wants to keep the 740K BTC that is 'just temporarily unavailable'. The story of the BTC keeps changing. First it is, 740K missing dues to mallaebility exploit. Now it is 740K just temporarily unavailable. Anyway, the subpoena in NY will force details to be released. I still can't buy the document having a goat on top of the mountains as a logo is real... That seems too much for me... hence everything else related to this document seems unlikely to be legit as well. The Goat bought at lot of Goxxies with BTC he gained at pirates ponzi as a PPT ...as those ill -gotten gains are greeted and even made by the allmighty MODS over here, you are going to be had with all your craptofuck-investments as the majority of BTC´s is still not used by Africans being able to buy their stuff at e-bay rather by early adopter criminals fucking themselves and everybody else over. Am I one of them? Sure as I sold my Goxxies for 72,5 cause I knew from experience that the bouncing cat can sleep comfortably on Marks keyboard Consequence: stop hoping and listening to BS....if BTC wants not to be used less and less...Mark needs to feel the heat now--- and those lame excuses from the other top-dog centralists why Mark is just a black sheep which will be allowed to ride in the sunset should show you where your money went !!!! |
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Does anyone know if sturle is ok?
Pretty comical when bitstamp went down for a couple of days sturle was on here crowing that I told you so, its not just gox that was affected lolol. So may there have been a lot of cash withdrawls to Sturles account from Poland generated by the selling of now missing bitcoins??? How many Goxxies did Roger buy with his at the time generous offer ? NONE ? Rptiela confirmed that he sold some Goxxies to Sturle in this thread as far as I know...Rampion are you sure he never bought from anybody -just offered with no follow through? Aren´t we able to find out who sold those 750000 BTC´s at Gox under 300 dollars now ?.....and which "verified" names are attached to to those "panic -sellers" accounts? If so we might get some of those "moneylaunderers " at the head of bitcoinfoundation to do jail time.....if not await some downtime at bitstamp as well |
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It is going down - 500 to be tested soon.
Reason: we are not that much below the long-term trend, so given the sentiment, we are "hanging in the air" when the solid ground is in 400-500, below that is a steal and above that is hopes.
Yesterday I would have agreed, but my opinion has changed and I think this pullback will not go below 530. I would not surprised if we already bounce off 550-560 as there's too much demand right now. We will see $800 within the next 2 weeks mark my words. You should rather expect a withdrawl queue to be announced at bitstamp....if Marks cat don´t even need to get lifted from the keyboard while beeing transfered to the cayman - islands stop being idiot people ...you are holding the bouncing cat while the insiders have cashed out...new insiders only come in the double digits...MARK my facts ! |
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Does anyone know if sturle is ok?
I'm sure that Strudle is way more than OK. He must have been making tons of money, and probably multipied that many fold by keeping people in the game at Gox for many months and thus the huge arbitrage opportunities going for much longer than I would have imagined. Sturle got his withdrawl from 4th of January and bought a moutain of cheap goxxies even for 90 % to help out widows and orphans in the need. Anybody else still has gotten a Sepa withdrawl ? The polish account still is sending money offshore and feeds back crumps to let the ponzi roll on even after the website went dark? This CEO is a mastermind  or are those offshore accounts may be "technically" not only his owns ? |
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So how can it be "more or less" legit when Mt.Gox did not produce the document.
I would imagine because it was produced by a consultant or somesuch working for an interested party. Its legit for the cover up you people absolutly want to believe in.....hat - off to Mark.. the scumbag "lost" 350 million of other peoples money , plays the victim and the audiance applauds for being fed nonsense while the cat sleeps on his keyboard,,,,buahhhbuahh  only in bitcoinland the insiders having sold out and nobody wants to get the memo....neither those trading records |
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So all this time gox suspended withdrawls while allowing trading it was knowingly trying to get back to solvency? lol
Yup, MtGox was trying to buy back the "lost coins" on the cheap. Actually, technicall that would be called "covering their short position". NOOOOOOOOOOOOOOOOOO...nobody who wasn´t in the know sold them "cheap" BTC for under 300 dollars... have you ?? would you??? who did sell 750000 BTC down to a 100 bucks?...is the answer still panicked japanese even in hindsight??? how dump can one be played before realizing what happened ? BTC is toast when this heist can be played like this - still the idiots run in IRC to get the latest "take-over" news freeze the accounts ! - if japanese authorities refuse to protect poeple from theft then accuse Gox of moneylaundering...then they may act  |
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I think those of us in the EU should push for a separate suit because there might be money in the polish account. It will also be easier.
I think the foundation are also to blame if they continued to accredit the exchange as a gold member when they were aware of these problems.
+1. I Agree that it may worth investigating whether EU funds can be claimed directly from the polish bank. Anybody in the forum with experience in related legal issues that can help? There are good options for class-action suits in the Netherlands. Dutch courts are often used for pursuing class actions against firms (since they assume jurisdiction quite easily), and its judgments can be executed EU-wide. Any person that has lost money/bc because of MT.Gox's mistakes has a civil claim that it can transfer to an institution or fund, which then in turn can initiate action on behalf of all claimants. Gush do you know where we can start? Any institution or fund in Netherlands? A logical first step would be to first pool how many people with claims you can find to start such a class action. Then you would have to approach a (NL-based) attorney with your case. A fund could be set up collectively on behalf of the claimaints. Allthough no cure no pay is forbidden in the Netherlands, there are ways to circumvent this with class-action suits, thus it might be possible to find a lawyer/lawfirm that would work on behalf of all claimants on a no cure no pay basis (which means the involved lawyers get an x percentage of the total claim value if they would succesfully bring the case to an end). Is there anyone from Netherlands that can be our reference there? What way is better to use to pool people interested in this action? PM on bitcointalk? A private mail address? (I can do that if needed) Im based in Germany and would be interested to make a claim in a possible class action suit but will wait a few more days before taking action to see what the situation is like and what chances there are to recover any of my losses from Gox. I dont think there is much there to recover though. What should be done immediately though is hinder Mark Karpeles from fleeing the country. If there are any email addresses to contact Japanese law enforcement, I will send them an email straight away and so should you! Polish authorities have shown little to no effort to protect the interests of (German) Bitcoin exchange customers in the similar case of bitcoin-24.com when a Polish bank account was seized over alleged money laundering charges (which proofed wrong). Till today no funds have been released. But at least they seized the account...thats whats need to happen ...accounts and their records of Gox need to be frozen...subito! or any legal case is futile as the money will be gone and traces extinct...as nobody wants to act, may it be a good idea to get the polish authorities to freeze it on the base of moneylaundering...whatever...but that the scam just goes on without any consequences is absolutly hilarious....BTC is fucked on this ground |
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OMG thats all absolute utter nonsense distraction....of course everything will be done, not to name the sellers of those 750000 BTC which got stolen and sold after withdrawls were halted.....there is the smoking gun...the rest is BS and serves to transfer even more money offshore as the accounts and records still haven´t been seized ! get real people |
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You mean the Shrem Karpeles & Friends Foundation?
Karpeles is out, Shrem was shutdown so he should be out too. There has to be a way for the Foundation to have trustworthy members, then I guess we can do this audit thingy I proposed. From the little I have read, I believe that Shrem and Karpeles were not just two members of the board among many, but were two of the founding members --- which may have been as few as two or three. How could people trust the remaining members, who may have been selected and brought in by those two? If the honest members of the board could not get the Foundation to expel Shrem and Mark right away, they should have left it themselves. The current members of the board did not do either, so ... If the community wants to clean up bitcoin's image, it should dis-authorize the Bitcoin Foundation and start another one, with a different name and with people who were not associated to the BF. right !! they even have to be prosecuted when found selling under 300 dollars at Gox while stamp has been at 650 cause this was not Mark alone neither other panicked poeple...that were the thiefs themselves and this money went off-shore....everybody knew the state of affairs but the game were played right until this very moment! ---this is criminal and not just a regulation issue !! |
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Who will Karpelas sue, and what will be the effect?
Sue him for what he doesn't have? The empty GOX Limited shell gave costumers coins of course in his pockets.....he is riding in the sunset with the heist, if he can fake whatever data explaining that he is not to blame that costumers coins went to such and such adress....the laywers will make sure to prove that they deserve it |
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Quod erat demonstandum |
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Anyone else starting to suspect that the recent large sells on Stamp were by someone who knew about the statement in advance?
Why would they think that mtgox being insolvent means the price on bitstamp goes down? More likely it was a mtgox insider who was able to withdraw cheap bitcoins and selling them for a huge markup on stamp. You still haven´t gotten anything about this heist !!? watch out |
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BB still at 0.08 ......still not empty da GOX |
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Hey,
thanks Charlie Shrem, thanks andreas antonopoulos for assuring everyone that Gox will be ok, lol. [ ... ]
Outstanding work Bitcoin community
confirmed there are still early whales who want to offload their bags to you |
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If you go to the site it says that it is down for maintenance. Yeah... I am just wondering if this explains the Gox stop ? hopefully the authorities are already seizing the trading records of both of those insider criminals1 |
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"Trading has been disabled"
MT.Gox is and has been utterly bankrupt as every ponzi is from the getgo but as long as there are bids at BB they are rightfully called only "technically" bankrupt....which is in no way due to malleability --- the theft is a lie to cover up the involvement of a gang of other early criminals who have been selling at gox under 300 bucks...keep this in mind please |
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I must say that today I received a EUR 10,000 withdrawal that has been pending on MtGox from Jan 5 this year. Have some other withdrawals pending, but also reinvested some money in BTC at current low prices. I think bitcoin in the longer run will survive, so if Mt Gox also survives or is taken over by a competitor I might have decent gains on my last investments. If they don't suvive then I'm not convinced that I will recover a larger percentage of my cash than of my coins. If the coins then go back to the average value on the other exchanges, it might be better to be in coins. Or am I making a mistake in my reasoning?
I think you have done the right thing. I believe Bitcoin exchanges are un regulated– there is nothing stopping Mt gox buying bitcoins at about $170 – transfer bitcoins to bitstamp and sell for $570 and bring the money back into the mtgox . (Then repeat this process) – Then reopen the exchange – when they have enough funds to pay every one thats hogwash...nobody sells them btc for 170 dollars...they ( and cronies) are selling cause they know its over ! |
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"We were broken into and all the money was stolen" is a standard ruse to cover up fraudulent management.
The break-in may be real (by an accomplice), feigned with faked evidence, or totally imaginary.
With bitcoins it is even easier, of course.
That 2bitidiot story may be false in many ways. It may be "merely" false. Or the reality may be much worse, and that story may be an attempt by the Brotherhood of Friends of Shrem to cover it up.
If clients can be made to believe that the coins were stolen, they will be mad at Mark but the incident will die there. There will be no police investigation that could reveal wrongdoings, by Mark or other people.
(After all that happened in the last few years, paranoia should be the norm, shouldn't it?)
thats not paranoid...thats the evdence! or tell me the names of those japanese MOM and POP panic sellers under 300 dollars when stamp was at 650 +.......and of course that implies GTFO |
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