As we all know by now, mtgox is in big trouble. They say they will release a new statement on 10th Feb 2014, which most likely would be "we have sent all the stuck bitcoins back, but fiat withdrawals still won't go through".

What if, none of the future btc withdrawals don't work either? And mtgox finally admits to going belly up, like 2 months later?

What would happen when mtgox finally admits that it is in big trouble and can't serve us anymore? Would the bitcoin prices fall sharply AGAIN? Or would the prices hold steady (because its not like all exchanges will shutdown).

What I personally think will happen on Monday is, mtgox will release the "stuck" bitcoins back to the owners, and the respective owners will again try to withdraw all their btc holdings because not a lot of people trust mtgox anymore. And what happens when mtgox again receives thousands of withdrawal requests on monday? The coins get "stuck" again (i.e. if it indeed is a technical issue)!

Do you really think that they can fix a REAL technical issue in just 2 days ? If they were that competent, wouldn't they have fixed the technical glitch a long time ago?

I have some money held up with mtgox, and I really do hope that i do get my coins back, but I like to live in the reality. I know, there is something BIG going on inside mtgox - Either they are keeping the coins for themselves as part of an elaborate ponzi scheme OR they are in big trouble with the authorities and hence, can't release any coins until the authorities let them do so.

Either way, this DOES NOT LOOK GOOD. Like many will agree, its best that mtgox pays us back what they owe us and shuts down for good. Because all these price fluctuations caused by the mtgox uncertainity is making many new small-time investors lose their life savings.

Coindesk Article on Mtgox death :: http://www.coindesk.com/mt-gox-first-bitcoin-exchange-dead/

Why not add Steve jobs to the video too? make apple realise what a visionary jobs was...

I hold no bitcoins or any other coin for that matter anymore. I sold all the coins and wanna get out of this f**ked up scene.... And i really think its not going good the way it is going.

All the links have been provided for further information mate. This is NOT LOOKING GOOD.

Don't try to spark new hope in peoples' minds. When it is BAD, say it is BAD.

A lot of bad news for bitcoins this week.. i think we are going back to the $32 (2011 valuation) now.

Gox has OFFICIALLY stopped all withdrawals. It is going to close. I am sure.

Update : https://bitcointalk.org/index.php?topic=453230.0

For the people that are not aware yet,

Russia banned bitcoins :: http://rt.com/business/bitcoin-russia-use-ban-942/

China banned bitcoins :: http://www.bloomberg.com/news/2013-12-05/china-s-pboc-bans-financial-companies-from-bitcoin-transactions.html

Apple removes all BTC apps :: http://www.telegraph.co.uk/technology/apple/10621175/Apple-bans-final-bitcoin-wallet-from-App-Store.html

Indonesia Bans bitcoins :: http://www.thejakartaglobe.com/business/bitcoins-neither-currency-nor-legal-paymen-tools-in-indonesia-central-bank/

India shuts down all BTC exchanges :: http://www.thehindu.com/business/Industry/bitcoin-exchanges-shut-shop-in-india/article5504407.ece

Thailand bans bitcoins :: http://www.cnbc.com/id/100923551

USA in final stages of banning bitcoins :: http://www.zerohedge.com/news/2013-05-15/us-government-begins-bitcoin-crackdown

France issued warning against bitcoins :: http://www.reuters.com/article/2013/12/05/us-france-bitcoin-idUSBRE9B40IF20131205

Korea rejected bitcoin legalising bill :: http://thenextweb.com/asia/2013/12/10/korea-becomes-the-latest-asian-country-to-reject-bitcoin-as-a-legitimate-currency/

Alibaba withdraws BTC support :: http://www.bloomberg.com/news/2014-01-08/bitcoin-banned-by-alibaba-s-taobao-after-china-tightens-rules.html

Mtgox scams $38 million from users :: http://falkvinge.net/2014/02/04/major-bitcoin-exchange-not-executing-withdrawals-now-owes-clients-38m-in-disappeared-money/

Mtgox OFFICIALLY stops all withdrawals :: https://www.mtgox.com/press_release_20140207.html

And the mining difficulty is going up every hour... making it almost IMPOSSIBLE TO MAKE PROFIT by mining.

Is this where it all ends? Is this where all hope dies? Does the bitcoin "bubble" burst now?

New press release from gox https://www.mtgox.com/press_release_20140207.html

2 police cases have been registered against mtgox already by some big btc holders. I dont think this is going to end well.

No man its not a "delay".. they are in deep trouble. A lot of mtgox's money has been confuscated by the authorities in the past so they are trying to keep themselves afloat by "delaying" peoples' bitcoins and fiat.

I tried withdrawing 15btc today morning and its "delayed" .. others have 50btc+ stuck with them now. its a blackhole.

Yea that was not good for the bitcoin community. We need to have better public speakers represent us.

Or maybe they paid amir a lot of bitcoins to give such a performance. Media is popular for manipulating stuff all the time.

Well, i think the effect of peer pressure is also setting in among business owners. They see so many people accepting bitcoins and with the added HIGH price of each bitcoins, they are tempted to do it too.

Well not many people considered using LTC earlier, but with gaining popularity, people started using LTC too.

So, just because one surveys suggests that people won't adopt other alt coins, doesn't mean they WILL NOT adopt any other coins ever.

If the crypto doesn't reward high in the beginning, not many people will mine it. So to gain as many miners as possible, they keep high rewards in the beginning.

A better solution would be, to increase the reward as more and more people join in. So, people would ask their friends to join in and so on,.

Did  you try PMing koolio? or bumface? Koolio is on this forum too. PM them asap.

Well, all i can do is wait and wait and wait i guess

Apparently, $38million of clients' money has disappeared from mtgox. Was mtgox hacked? Or did they steal the money to keep themselves afloat?

Source :: http://falkvinge.net/2014/02/04/major-bitcoin-exchange-not-executing-withdrawals-now-owes-clients-38m-in-disappeared-money/

Mtgox support has agreed to this and say this affected only the larger transactions (ofc it did).

Mtgox support reply :: https://support.mtgox.com/entries/26128504-Update-Statement-Regarding-BTC-Withdrawal-Delays

Mtgox better come clean about this soon or the BTC price is gonna keep doing down. Fell $100 in just the past 3 hours.

I just tried to withdraw my bitcoins and they haven't even shown up in the blockchain yet  Been more than an hour now.

Mtgox can't stop withdrawals as and when they wish. It is our coins! We decide when to withdraw. 

Apparently, $38million of clients' money has disappeared from mtgox. Was mtgox hacked? Or did they steal the money to keep themselves afloat?

Source :: http://falkvinge.net/2014/02/04/major-bitcoin-exchange-not-executing-withdrawals-now-owes-clients-38m-in-disappeared-money/

Mtgox support has agreed to this and say this affected only the larger transactions (ofc it did).

Mtgox support reply :: https://support.mtgox.com/entries/26128504-Update-Statement-Regarding-BTC-Withdrawal-Delays

Mtgox better come clean about this soon or the BTC price is gonna keep doing down. Fell $100 in just the past 3 hours.

New Press Release from Mtgox (dated 7th Feb 2014) ::  https://www.mtgox.com/press_release_20140207.html

Mtgox has officially stopped all withdrawals. This is not looking good. So we got all our money stuck at a japanese exchange now  

Cryptsy bases the value on a variety of factors actually. Just because a similar coin started at some XX level, doesn't guarantee all the future coins to start at the same level. You can check out their forum to see what factors are used.

Wow this is very cool. But, what about the coins that were started but died later on? like valuecoin etc