Near total bankruptcy... is that like near total death... or "not dead", or "not bankrupt".
If someone were to beat you nearly to death it would be a significant thing.
Today we have transcripts of the CEO admitting the "crisis management" document is "pretty much all true".
<JonWickedFire> Is that Crisis Strategy Draft even legit?
[11:04] <MagicalTux> more or less
[11:05] <MagicalTux> as the name suggests it's a draft, and it's a bunch of proposals to deal with the issue at hand, not things that are actually planned and/or done
[11:06] <MagicalTux> this said this document was not produced by MtGox
That means Mt Gox either sold over 700,000 BTC short, lost them, stole them, or were robbed of them.
I personally believe it is a combination of mostly the first and last items in that list.
Comparing this situation to a bank closing on the weekend is IDIOTIC. This is a failure of such grave proportions is will be talked about for ages. It has set bitcoin back YEARS in acceptance and now it is all about damage control. We are talking tsunami damage, not a little storm.
I personally think bitcoin survives even this. But it's going to take a long time.
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