I think we should put history books into the blockchain!  |
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Any new news in the past 6-7 hours?
No news. Strengthening frustration and even a little despair. A wide variety of emotional reaction. |
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The question now is: when to go long? - when gox re-enables withdrawals (or preferrably shortly before that)
- when resulting arbitrage has played out and pulled other markets down
- now
Tomorrow morning, 9 am. Information incomplete. Timezone missing. Intentional! |
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The question now is: when to go long? - when gox re-enables withdrawals (or preferrably shortly before that)
- when resulting arbitrage has played out and pulled other markets down
- now
Tomorrow morning, 9 am. |
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I am not very angry on Gox to be honest. I have 11 BTC blocked there and I believe I'll get them at some time. Out of that I don't care about their price single iota as long as other exchanges are not following it.
That's the problem. For most people with half a clue the Gox chart today shows the state of Gox the company. But the other charts are meant to be showing the price of Bitcoin. And they are being dragged down. They are but not at alarming rate at all. It is actually a really positive thing to see this huge spread. It shows clearly the difference between the sense of value in Bitcoin the technology and the sense of value in one of the main players in the market. |
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I am not very angry on Gox to be honest. I have 11 BTC blocked there and I believe I'll get them at some time. Out of that I don't care about their price single iota as long as other exchanges are not following it.
That's the problem. For most people with half a clue the Gox chart today shows the state of Gox the company. But the other charts are meant to be showing the price of Bitcoin. And they are being dragged down. |
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Just want to +1 the decency approach re: MK.
A couple of days ago I was about to sell my goxcoins on the cheap but while chat skyping with the anticipated purchaser, he let mention that he was on speaking terms with MK and the GoxTeam and that he felt that their legal team was suggesting they keep things rather 'mum's the word', which, like many of you must feel, runs counter to what we expect from a 'well run' company today, more transparency.
Now, whether the Gox lawyers are encouraging mostly silence may or may not be true, but, it certainly adds weight to KeyserSoze's reasonable approach regarding what may well be a series of human shortcomings and incidents instead of mal-anything (-feasance, -isiciousness, -ign, -evolence...).
Well that advice has backfired badly. Bullshit to that. Bitstamp was clearer and faster on the malleability thing. Did the lawyers also suggest MK blame Bitcoin? If they were not in trouble then why would they need to stay silent? And then the silence just amplifies everybody's worst fears. Sorry but "human shortcomings" is not an adequate excuse for what's going on communication-wise. My 7-year-old son knows how to say "sorry". |
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Much more reasonable than this conspiracy about Mark manipulating the price is to think that someone has a lot to gain shorting btc on gox because it is holding a position on some derivative market somewhere that benefits from a low GOXBTC price.
MtGox isn't insolvent, anyone who is selling their coins now because of this fact will be feeling raped by a giant japanese octopus in a few weeks.
Besides that it is easy to realize that he has a business that generate ~100K USD/Day, why would he "manipulate" the price and crash his own exchange exposing himself to the risk of being even murdered? He has a lot more incentives to keep the business up and running, more than anyone here.
Stop with this insolvency nonsense, there is absolutely no evidence regarding that, to the contrary, there are huge evidences that he have a lot of money to maintain his business through the fees he is charging.
Yeah but letting this happen on his exchange is killing the last shreds of respect people might have for Gox. He should freeze everything right now and then make a clear, honest statement whenever he is ready. |
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Is Mark Karpeles the officially the most hated person in the bitcoin community now?
You seem to have a short memory coupled with the fact Mark has yet to have done anything to warrant hate. He pointed out a flaw that nearly every exchange had to fix in their software. Perhaps he put the blame where it was not warranted.... perhaps. I see that things at Gox look odd but just imagine this: - Mark doesn't have special trading accounts or no-fee bots, etc. - Mark believes that malleability is a flaw in the protocol and stated his opinion - the crazy market at Gox is simply that, not internally manipulated free market - banks have been very strict with him after the US froze his Dwolla account causing all the reported fiat transfers. Stopping USD withdrawals is necessitated by the US not Mark. People are losing money and looking for someone to blame. Instead they should be thanking Mark for offering them the ability to trade BTC for the last @4 years. i agree, the hate here is just idiotic. i was tempted myself, it is so easy to follow the crowd and hate. there are even remarks about his safety. on the other hand: some communication from mtgox would help Please don't confuse suggesting that he might do well to get a bodyguard with hate (if you are referring to my comment). Considering that people are beginning to fly to Tokyo from the other side of the world to confront him makes this seem like a good idea to me. The first visitors were kind of geeky; the next might be more unpleasant. I do think it would help if he was more open about Gox's cash / Bitcoin reserves. |
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KeyserSoze, please don't get offended, but I think you're wrong about MP, and I think many on this forum let their linguistic sensibilities cloud their understanding.
No offense. I very well could be wrong. i just don't think one shady person calling others shady (which is the thrust of the link) is the compelling evidence Jorge thought it was when he linked to MP. I've been pulling for Gox through this silliness but Mark could easily be on the run as well. I'm as likely to be wrong as anyone else. The signs are certainly there that Gox is in trouble. Mark doesn't seem shady to me, he seems to have "risen to the level of his incompetence." That doesn't mean he's incompetent altogether, he's just bitten off more than he can chew it seems. This was OK when we had only one exchange. MP seems shady to me and that is completely different from incompetent. The troubles come from a different place.The chat on bitcoin assets certainly makes for depressing reading... |
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Is Mark Karpeles the officially the most hated person in the bitcoin community now?
I do think a bodyguard might be in order for the guy! |
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Going to $100 ? This is getting out of control...
I told you weeks ago that Bitcoin is way overpumped. Itīs just realizin that it has to go back(down) where it belongs. Fonzie you're getting lucky but not due to Bitcoin at the moment. We are watching Gox today - it's crystal clear for me even though for some people the lines between Gox and Bitcoin might be blurred. You've got Gox to thank!  |
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Gox might as well take the final step and remove trading altogether, simply reporting whatever exchange rate they choose.
If they just fed the title "Gox Shares - Such Market Data!" (in comic sans) automatically along with whatever else they give out via their API, I think that would be sufficient. |
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LOL exactly what I've been thinking hahah. Unless of course it is MtGox themselves doing it and they just give themselves the money. It would seem to either be MtGox doing this to help themselves in some way, or someone or some organization that wants Gox or BTC dead. Though if it was an organization that wanted BTC dead, you'd think they'd just put these sell bots on every exchange and not just MtGox .
Are you SURE it is really a bot, and a single one at that? And are you sure it is doing no buying? They can't sell too much for too long, noone has unlimited funds. Not sure about anything haha, all just theories, but it certainly appears to be a single bot with the timing it has. Could be a single bot owned by many people, or multiple bots in sync, no way to know. It could also be selling through its own walls. Depends if the bot is owned by a "trusted" member or whatever... ahem...  |
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Another possible option is somebody had a huge bet based on the goxbtc price at some derivative market & gained more from shorting than they lost tanking the price.
Now we are talking.. Perhaps they also wanted to buy cheap coins after their bet went well. Bloody whales. |
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LOL exactly what I've been thinking hahah. Unless of course it is MtGox themselves doing it and they just give themselves the money. It would seem to either be MtGox doing this to help themselves in some way, or someone or some organization that wants Gox or BTC dead. Though if it was an organization that wanted BTC dead, you'd think they'd just put these sell bots on every exchange and not just MtGox .
Are you SURE it is really a bot, and a single one at that? And are you sure it is doing no buying? They can't sell too much for too long, noone has unlimited funds.Satoshi. And he's pissed. |
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How are you feeling right now? Just out of interest. I feel fine. I realized my investment last year. My interest leans more toward the protocol not price, which growth I find fascinating to watch. I'm in spec thread for entertainment. It also occasionally in the past was good for early trading news. Now things break on Reddit it seems. OK. So we can probably keep you out of the emotional turning point equation!  |
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I think it's Satoshi.
He's had enough of Gox tarnishing the reputation of Bitcoin and he's going to grind it into the dirt.
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wow wtf 256 GOX VS 625 STAMPS the market is saying there is a 245% chance mtgox will implode  You would think it wouldn't have any effect. Aren't goxUSD just as impossible or more impossible to withdraw than goxBTC? Irrational market Gox Bitcoin charts should be on a separate site under the title "Gox Shares" Honestly that's a far more realistic way of putting it. |
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