Just me - or is the instant payment button not working at the moment?
Yes, I have this problem too. Maybe Tycho will clarify situation? Probably disabled it to prevent post-mtgox bullshit. My payment address is locked permanently. There is no reason to "secure" me. |
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I didn't even have a MtGox account until today, and it has a different pass. MBC also said they changed the password on accounts with leaked MtGox passes.
You didn't have a mt gox account until today? How did you set one up while their site is down? |
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So you're going to "rollback" those who have already withdrawn to their personal wallet then?  Some people who withdrew to their wallets still have enough to cover their withdrawal in their account. For example, if I had 1000 bitcoins, made another 2000 bitcoins during the crash, then withdrew 500, after the rollback, I'll have 500 left. (The original 1000 - the 500 I've withdrawn). Some peoples' accounts might be 'negative' because of withdrawals. Mt gox will have to cover these losses if the users don't return the funds. I'm sure it isn't that much. I'm sorry but this is a laughable solution in my opinion. Mt. Gox needs to cut their losses and compensate this alleged owner of the original alleged user account that was allegedly compromised. If you expect people to take Mt. Gox seriously when their account balances go negative, then you're just as crazy. Mt. Gox does not control the exchange rate and they will no longer be a central exchange. They cannot dictate market value of the BTC any longer. If you withdraw more than you have, your balance goes negative. I doubt anyone with a negative balance will return it when they can just open a new account, but that is just how math works. I don't see what is laughable. If you had 1000, and withdrew 500, you have 500 left. This isn't a "solution" this is the way numbers work. And how could they "cut their losses" by coming up with 400,000 bitcoins. I don't even think there are 400,000 available for purchase. The price would be more than they can afford. When you "cut your losses" you are supposed to lose less, not more. Mt gox never "controlled the exchange rate", that is set by buyers and sellers. Do you understand how any of this works? Am I talking to a 13 year old? |
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So you're going to "rollback" those who have already withdrawn to their personal wallet then? Some people who withdrew to their wallets still have enough to cover their withdrawal in their account. For example, if I had 1000 bitcoins, made another 2000 bitcoins during the crash, then withdrew 500, after the rollback, I'll have 500 left. (The original 1000 - the 500 I've withdrawn). Some peoples' accounts might be 'negative' because of withdrawals. Mt gox will have to cover these losses if the users don't return the funds. I'm sure it isn't that much. |
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Are you multiplying by the dollar price? There is no point to doing that if you are trying to count the bitcoins. AKA, add up the "amount" column, not the "total" column.
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Indeed, how the hell did you get 51,000,000? My calculations from earlier show about 400,000, and your own document doesn't support it. How did you get your numbers?
51 Million BTC of buy orders, at and average of $4 would mean that mt gox is holding 200 millions dollars. That is just crazy and can't be right.
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I'm also having a problem with the instant payout button and it is making my feet itchy. Please resolve this immediately.
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Too bad mt gox isn't NASDAQ. Or your argument might hold some weight.
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People got a taste of how awesome low prices could be and are trying to start a panic. I'm all for cashing in on low prices, I'll definitely be buying if there is a sell off at my gox, but I don't see the point in damaging the whole community in an attempt to create artificial low prices.
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Could we get a version number for the API and a way to retrieve it?
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When the block reward is halved, it won't really be that big a deal. We've already seen difficulty rises that are >80%. That is effectively the same thing.
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I'm not putting up actual numbers, but my income from speculating is 0.
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instant buy/sell is a key feature
The instant, yet guaranteed for a brief period trading thing doesn't make sense to me. To my uneducated eye, it seems like either they have to pad the trade like a bookie does, in which case they'll lose business to a real exchange, or they'll lose money from people using that time gap to their advantage. Can someone explain how it works to me? I agree. I am confused how they are doing it. |
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+ Mt Gox has clearly made several times more revenue (through trading fees) than this incident would cost them to completely absorb.
I have no idea if you are who you so you are. I also agree that it is highly improbably that a single user was storing so many bitcoins on mt gox. However, this statement is not true. You are claiming that Mt Gox has already made millions of dollars and could absorb this loss without going under and taking the entire bitcoin economy with them. No, I'm not claiming that they could have millions of dollars. But I am claiming that they've made many hundreds or thousands of bitcoins per day. Take the public volume, times their fee, and make a wild guess at how much is moving on the dark pool to add on top of that. If they don't have enough in BTC to cover the entirety of this, they're doing something very very wrong. They aren't making "hundreds or thousands of bitcoins a day". The volume is usually around $300,000 USD. Times .013 is 3900 dollars. Or about 260 bitcoins a day. That isn't enough. |
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So the only minus of option three is... it might be impossible. Well, a back of the envelope calculation tell me that it is impossible. Of all the options, I prefer the rollback.
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The rollback is inevitable. I feel bad for you because I would have felt like I one that lottery and then it was taken away. But, it simply has to happen.
It is possible that mt gox lost more than they have reported yet, but I don't think they lost enough to not be able to function. We'll see soon enough. I was never under the impression that the hacker was buying at a penny. It seems like the hacker was just acting crazy.
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We got your common sense.
You can not stop me.
You stupid now.
Are you afraid?
Death to reason.
Death to common sense.
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Measuring in flops is silly, hashes don't use and floating point operations. Anyway, using your numbers, that means that the network is 103 petaflops, so another 8 isn't that much.
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Honestly, after all of this, I would trust mt gox the most. Nothing encourages you to invest a lot in security more than being thoroughly pwnd.
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