Agree with previous comments. This is all worthless unless you can back it up with some evidence, like posting a short-term future prediction - so that when the time comes, the accuracy can be measured.


BB.

No it isn't, it is a reaction to scarcity. If everyone had access to all the food they could ever want, none would be stolen.

BB.

We are completely agreed! This is why the people who think that freezing, rollbacks, etc (Whatever they call it, its manipulation) are a good idea should maybe think a little harder.


BB.

Haven't agreed with some things said in the past dear chap, but this is absolutely spot on.

BB.

THIS.

Considering the amount of money they are making and have been for a sustained period of time, it is absolutely unforgivable that such poor performance exists. They are only getting rich because they got there first.


BB.

Mt Gox can't handle the load of EVERYONE (yes, you!) trading at once, the panicked traders are the architects of the DDoS. Anyone with half a brain can conclude that the best option is to be collectively sensible and calm (i.e. dont go batshit crazy selling/buying) - hence the problem.

BB.

Mt. Gox is now under a heavier DDoS attack than before, thanks to everyone panic selling more than if the damn thing was just left to run its course.
Well done dipsticks!


BB.

How about those that want to halt trading, do so themselves and leave everyone else to make their own decisions?


BB.

@fredi173
@superduh

What do you think is going to happen, the second that Gox is re-activated?


BB.

No it isn't. All the time Gox tries to wipe people's asses so they don't get nappy rash from the risks they took on what they know to be an unstable system, it perpetuates this stupid culture where everyone demands to be saved from their losses.

This is bitcoin; you have no warranty and no service level agreement.


BB.

Because everyone knows that Mt. Gox is a shithouse and chooses to take that risk when they trade with them. As ever - dont like it? Leave! But don't try to insist that others must do the same.

BB.

@superduh

1. Such "glitches" should not exist.
2. If they occur, people should know better than to trade during them.
3. Solving one manipulation with a further manipulation is like shooting the second leg after the first.
4. People should still be free to take their chances if they so wish.
5. Otherwise, such policies of "freezing" should be clearly formalised and documented BEFORE such events.


BB.

Freezing is the worst thing they could have possibly done.
Anyone got the charts from last time they froze or even the infamous "rollback"?

BB.

On their twitter originally, now announced on the site. Its 15:35UTC.


BB.

All trading on Mt.Gox has been frozen until 02:00 UTC.
This is supposedly due to the huge lag (apparently this time caused by another DDoS attack) experienced for the last few hours (though it was down to single digits just before the freeze?).

Is it right that Mt. Gox interferes with the market when the price plummets, even though this is because of its own system's performance? Especially as it did not do the same for the two previous occurrences (yesterday and last week), thus reneging on a precedent without advanced warning or formal policy change?

There will be people who sold this time on the expectation that, if left alone, the price would have continued to descend (as it did on previous occasions). Is it right that this was not allowed to happen and those same people may stand to lose on account of extraordinary manipulation?

Of course, DDoS attacks in this context are a deliberate attempt to defraud - but they were allowed to run their course and others were also allowed to profit from buying at the end of such occurrences. Why is that different from people attempting to profit by selling on the way down?


BB.

Apologies for another resurrection, but did ZT get away with it or did "Chen" actually exist?


BB.

Did anyone actually get their money back?


BB.

Indeed you are correct, it was not a DDOS. This was entirely caused by blind panic!

BB,

Yeah, Mt. Gox definitely caused the scare itself so that everyone would bitch about it, look for and move to alternatives, as well as gain itself widespread negative press coverage.  

The attacks are happening because the rewards are great enough to justify the risk of carrying them out. In truth, I think only a small amount of the lag was down to the culprits. Only a short, sharp shock of decline seems to be enough to panic the majority of the community into selling for no good reason - in itself perpetuating a much greater denial of service.

If the value is tanking, its already too late to sell. So next time, if everyone were to just calm down and ride it out, the culprits wouldn't be able to make so much profit.


BB.