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Hi,
after trying to solve this ripoff first with the company and than with my insurrance company, I will start with looking into this matter out of a legal stand point. Has anyone allready any contacts to layers who work with Black Arrow Issues in Hong Kong? I guess more clients are handling this case with a layer by now?
If anyone is up for a group action with a legal case against the company, please message me.
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First MtGox disapears with an BTC fortune and then Neo Bee. Besides them, there are countless mining companies that never refund their clients on empty promises. Sadly, in generall there is to much scamming going on in the BTC to get this mainstream! Noone want to get ripped off. Especially on his/her first encounter with BTC. And sadly, right now, too many people encounter a scam as their first encounter with BTC.
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Sadly the very essence of BTC got hurt with the fall of MtGox. BTC was here so that people would not have to wory about loosing their funds. And here we are with similar crroks (Mark) as in the traditional banking system. And it does not get better when out BTC Jesus favours his friends at MtGox! He admits it in this youtube video https://www.youtube.com/watch?v=GRIJ_jpmwzoSo what are we left with? A volatile currency that is complicated to buy and hard to spend. Yes, every day we have more merchant accepting bitcoin. But why would a newcommer buy BTC so that he can save some money of his purchase at overstock? With all the hassle it does not make sense for him / her. Yes, BTC will still stand, but sadly more as a speculative asset. And with far less intrinsic value (trust) in the system! Hope I will be proven wrong becasue I still have 50% of my coins left. |
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https://www.facebook.com/goxbitcoin?ref=ts&fref=tsLike their logo and the fact that they are available. Also like the fact that they try to relaunch Gox with multiple altcoins! And I still hope that i somewhere down the pipe can recover my 28BTC, which was my full BTC holding / 50% altcoinholding. Take care all of you!
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VISA handles 150 000 000 transactions a day. http://corporate.visa.com/about-visa/technology/transaction-processing.shtml with 86 400 seconds per day, that is 1 739 transactions per second. But we also have to count for other credit cards, bank transfers and a new kinds of transactions that we do not have today, such as micro payments for bloggers, filmmakers etc. Let us assume roughly 10 000 transaction a second is needed for a viable world crypto currency. Of course not, one single coin will dominate all payments, but let us say that the biggest have 10% stake and hence BTC has to be able to handle 1 000 transactions a seconds. The closer BTC or an Altcoin is to be able to handle this transaction volume, the bigger potential it has to grow to one of the most dominant ones. With a block generation of 10min, 1MB harcoded blocksize and 400byte transaction size, BTC will never be close to handle the requiered transaction volume. Is there any "fixes" down the road for this, or will an altcoin have to adjust for a satisfying transaction volume? |
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Technical issue or not, the market is still skeptical that MtGox will honor all BTC withdrawals after this issue is fixed:
I agree with you that MtGox is not a good exchange. No customer service, no phone number and they should hire a person that handles their communication with media and clients. But there are none that does it much better. Bitstamp and BTC-E is the same crap, and this, the exchanges are sadly one of the weakest spots of Bitcoin right now. Another issue is that Bitcoin still is on a beta release, were bugs are expected. The more value Bitcoin gets the harder it is to maintain and change these bugs. Hence I think we will get some Altcoin that surpasses BTC in 2-5 years. |
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Just read this newbies' posts. 4 out of all 5 posts this user ever made bash the other exchanges and defend MtGox. This newbie even blames the Bitcoin Foundation and Bitcoin. I tried to deposit 3btc to my bitstamp account and it still has not been credited. The transaction is on the blockchain with 8 confirmations. Probably similar issue as with MtGox. Might not be only a MtGox issue in the air. And they call BTC a smooth currency? Still big steps to take before that is 100% true  Probably GOX creating an error with Bitstamp so that they don`t have to go out of business.
Now when BTC-E and Bitstamp has similar problems, the bug that MtGox highlighted seems to have credit. Might Gox who cause similar issue with at their competitors exchanges  So now the ball is back at the bitcoin faundation. Bitcoin still in beta, might sadly not be so smooth yet. I agree on that MtGox customer service is bad and that they can handle communication better. But hey, who should we trade FIAT -> BTC with now when also Bitstamp has BTC withdrawal problems? We all have to be a "fool" and sometimes trade our BTC -> Fiat at an exchange. And right now they are all crappy in my point of view. Bitstamp / BTC-E, their customer support is also not to responsive, without phone numbers etc. I am no coder, so can not tell if their implementation of teh BTC protocoll is better.
I might be a n00b here, but now even your god Andreas Antonopoulos blames a weakness in the protocol  http://www.coindesk.com/massive-concerted-attack-launched-bitcoin-exchanges/ |
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MtGox incompetently managed their accounts and their method of posting transactions to the network. People discovered their failures and exploited it to rob MtGox. That is 100% MtGox's fault.
MtGox blames Bitcoin for their failures in attempt to crash the price which would allow them to recover their losses. This is the 3rd time they have triggered such a crash by the way.
The crash attempt fails because no one with sense trades with them anymore. Developers step in and point out that the failure is a result of MtGox being incompetent.
Suddenly a bot appears that exploits the defect to create duplicate transactions. These duplicates have no effect on who gets paid in transactions, or gives any advantage to hackers. It just aggravates and confuses people until one of the duplicate transactions drops off the network as intended by the protocol. The bot doing this is extremely well connected in the bitcoin network suggesting it must be operating on nodes that have been active for years.
Who benefits? Only MtGox. They have failed, are probably insolvent, and are now flinging mud at bitcoin hoping to damage the source of all their revenue. It is EXTREMELY LIKELY that they are the source of the malicious transactions spamming the network right now.
I don't blame MtGox. I blame any fool who trades with them.
I agree on that MtGox customer service is bad and that they can handle communication better. But hey, who should we trade FIAT -> BTC with now when also Bitstamp has BTC withdrawal problems? We all have to be a "fool" and sometimes trade our BTC -> Fiat at an exchange. And right now they are all crappy in my point of view. Bitstamp / BTC-E, their customer support is also not to responsive, without phone numbers etc. I am no coder, so can not tell if their implementation of teh BTC protocoll is better. |
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Now when BTC-E and Bitstamp has similar problems, the bug that MtGox highlighted seems to have credit. Might Gox who cause similar issue with at their competitors exchanges So now the ball is back at the bitcoin faundation. Bitcoin still in beta, might sadly not be so smooth yet. |
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Deposited BTC in bitstamp yesterday. No problem in my account within 4 confirmations.
Withdrew BTC from bitstamp yesterday. Took about 10 minutes to be processed.
No problem that I can see.
But that was yesterday! Today is today. And today there are reports that it does not work! |
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Probably GOX creating an error with Bitstamp so that they don`t have to go out of business.
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I tried to deposit 3btc to my bitstamp account and it still has not been credited. The transaction is on the blockchain with 8 confirmations. Probably similar issue as with MtGox. Might not be only a MtGox issue in the air. And they call BTC a smooth currency? Still big steps to take before that is 100% true |
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Hi,
I sit on two order of each one Prospero x-3 (2000Ghash/second), batch 1. Due to the companies shipping delay I am willing to sell these for $4995 each. PM if you are interested.
Best Regards
/Christian Westermark
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