Latest rumors say that the potential investors who were contacted by Karpeles were frightened by the size of the mess at MtGox and they notified the authorities. I would expect Karpeles to be arrested on fraud charges.
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Could be coins from bitcoinbuilder transactions.
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May the price reach this page number at the top of the next bubble.
I hope not. I don't want to wait that long. You are funny, but I try to be realistic. The current bubble has to deflate, which may take a few months, then a new (slow at the beginning) bubble will start.
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May the price reach this page number at the top of the next bubble.
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Real panic buying will start on MtGox when (well, if) BTC withdrawals resume, even with a daily limit, or at least MtGox management prove somehow that they are solvent in BTC. Until then, just rumor buying...
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On the 21st February the markets (finally!) hit the bottom of the first 1 / 3 of wave C. Now it's time for 2 upward sub-sub-waves. The corresponding moves in May 2013 pushed the price from 80$ to 136$, that's 70%. Bitstamp may see 750$ - 800$ again (if seller pressure from MtGox won't push it down), while MtGox (if BTC withdrawals are enabled) should see a crazy rally towards similar prices. This won't last, it's just temporary for a couple of weeks, capitulation will still come.
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It's very easy to kill bitcoin. Just take over all the exchanges and make them behave like MtGox. Seriously, the exchanges are bitcoin's greatest weakness. They should be made bulletproof and trustworthy. For MtGox's management, I think bulletproof might have a different meaning in the near future.
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... I truly hope these thiefs are identified, and that they still do own substantial assets in MTGOX. These frauders' BTC and Cash assets should be frozen by GOX without delay before they re-initiate BTC withdrawals, as honnest users should not be harmed by the fraud. ...
It's possible that MtGox is delaying the BTC withdrawals in an attempt to buy time to identify those responsible and recover some of their scammed coins. But the harm MtGox did to themselves and to the market by acting so is IMO much greater than the theft itself (which was facilitated by their negligence).
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The bitcoin days destroyed had a large spike on the 7th February, but I can't tell if this was due to withdrawals or deposits (someone can clarify this?). However, the malleability attack peaked on the 10th and 11th February. Someone wanted MtGox to stop bitcoin withdrawals for some time. If the BDD of the 7th was due to scammed bitcoins leaving MtGox, then they lost a large number of bitcoins. If however there were lots of bitcoins transferred to MtGox on the 7th, knowing that they'll halt BTC withdrawals for some time, and sold while the price was above 700$, those manipulators already made a fortune, buying below 200$. They now wait for MtGox to resume withdrawals, so they can cash out on other exchanges. If a large number of bitcoins would have left MtGox, other exchanges should have already seen a lot more seller pressure, and a much lower price by now. What I could see instead on Bitstamp (the cash out exchange) were normal movements for the first 1 / 3 of a bear market, no huge dumps yet.
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Probably the same people who engineered the market collapse at MtGox are trying to achieve similar results with Bitstamp. This attack is probably just the start, they'll try to create panic by spreading FUD, hoping to crash hard the price on Bitstamp too.
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If you don't have 2FA enabled, that's what happens.
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According to cryptocoinsnews, there's a petition to remove Mark Karpeles from the board of the Bitcoin Foundation. I'd like to see the opinion of the forum dwellers on this matter. I wanted to add a 5th option, but it would have been too harsh...
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It is true that someone created this great decentralized commodity... and then we created a few simple points of failure in the form of exchanges. MtGox has been failing since mid 2013. An exchange you can't get money out of quickly and easily is not really an exchange.
It looks like the market has spoken with today's 50% collapse in GoxCoins, on top of the previous 50% discount. I don't know how MtGox digs its way out from here. Offering a discount on trades and maybe some free money to new customers just isn't going to cut it. Their rather ambiguous 20 February update about having to move due to 'security issues' was a terrible move. They've made the information vacuum go nuclear. Were angry customers turning up at their address demanding their money back or something?
Agreed. Those praising the market collapse on MtGox don't understand that the same could happen, with some manipulation, on other exchanges too. And then bitcoiners will be left with worthless digital tulip bulbs. Exchanges should be properly regulated and periodically audited.
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Tzupy, what's your ~ target for bottom of Wave C at this time? Between 80$ (harsh scenario, 2011 like) and 300$ (mild scenario, 2013 like), Gox prices. Sorry to say but you are not sane LOL Bumped this. It appears that I was sane enough, since Gox hit 130$, which is closer to 80$ than to 300$. Of course, this could only happen so fast on a disfunctional exchange, that should have halted trading days ago.
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In my eyes it's completely insane, that trading hasn't been halted -- it should have been a few minutes prior to the first announcement, that bitcoin withdrawals are suspended!
A honest business would have done that (suspend trading), but MTGox chose to defraud its customers. When the MtGox price is 75% lower than Bitstamp, I think defraud is the right verb describing the situation.
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If rule of law is the norm in Japan, the responsible authorities should launch a criminal investigation concerning the MtGox management and staff.
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The key ingredient needed to trigger one more panic sale. Manipulators thought of everything...
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I predict that karpeles will be dead within 2 months
Considering how bad he screwed his customers, maybe even sooner. He does not realize that he's maddening a lot of people...
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... At worst, he is intentionally manipulating the market.
Maybe his lawyers are manipulating him into (unknowingly) manipulating the market.
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Determine what is the dominant opinion and do completely opposite This seems to be the dominant opinion, now what? This is sort of a catch 22, you can't win.
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