If MtGox is under new management and implements sound accounting methods, this it will become the most reliable bitcoin exchange.  Why would I not want to do business with them?

There are many vultures that find the collapse of MtGox as something exciting and enjoyable.

Please explain to me how this has benefited anyone who owns bitcoin?  Yes, we now know that the management and software of MtGox was severely flawed and that must be corrected.  But the death of this company, without any possibility of recovery under new management, will not help anyone.

Even the people who did not have their money invested with MtGox have lost value in their bitcoin since MtGox collapsed.  Everyone who owns a single bitcoin should support a rapid, but accountable, recovery of MtGox.

If you have money locked-up in MtGox, why would you not support a rehabilitation under new management?

The death of MtGox does nobody any good, but their slow recovery would eventually allow the people involved to recover their money.

Yes, it may take a long time to obtain financial stability once again, but that is our only hope.  I will continue to support this company, if they can establish financial trust and respectability once again.

Since MtGox has a history of releasing statements on Monday, tomorrow may be interesting.

All we can do is wait and hope for the best.

"Please follow the tree https://blockchain.info/tree/114688199 and add more to the thread as you find them."


Outstanding, and I will be exploring those tracks!

That chart is exactly what the customers of MtGox need to be doing.  We have nothing but rumors, "leaked" documents, IRC chats and official legal documents to work with.

But as we all know, every bitcoin transaction can be tracked on the blockchain and those are the only  FACTS!

So far, this is getting me rather excited today.

"Understand, though, that if it stops at 30k addresses with 10BTC in each this could be interpreted as a positive sign, as it would mirror what looks like Gox's hot wallet loading procedure."

I fully agree and that is why I am so excited about this new development.  We can only hope...

Sorry that I am a "newbie" after a year on this forum, but I have never felt a need to post something before.

This does sound like the first steps of a MtGox recovery and I wanted to express why I feel that way.  I may be a total idiot, but this big move of 200k BTC got me rather excited.

I only had about $15,000 in MtGox when it shut down, so I am only a little player.  However, if it was an actual theft, then I will spend the rest of my life tracking down the people responsible.

Once again, I still feel strongly that it was an incompetent software error and that MtGox will eventually recover and allow limited withdraws.

With thousands of very upset MtGox customers tracing every movement on the blockchain, how long would you last until someone recognized your wallet and called the police when you dared to exchange those bitcoin for fiat?

You can run, but you can not hide!

I have very little trust in the "leaked documents" and rely upon what has actually been traced in the blockchain.  Of the multiple theories expressed, I still believe that incompetence from poor management is closer to reality, than any actual theft.

Personally, I think that MtGox lost their database of private keys and is working hard to recover them.  If so, then this recent activity may be a good indication that they have recovered some of those private keys.

I may be a fool, but as a Software Engineer, this is the scenario that I have the most confidence with.

If I was able to recover a wallet with 100K BTC, what would I do to prevent this from happening again?  I would split those bitcoins into multiple wallets of 10 or 5 BTC, to insure that this would never happen to me again.

I have done the exact same thing with my personal bitcoin and keep them in paper wallets of 5 BTC groups.

If MtGox was unable to obtain their private keys, then this is great news.

Perhaps the coins in "cold storage" are now available and are being distributed to multiple wallets, to minimize the vulnerability of future theft or loss.  Remember the statement: "technically they are not lost, but not available at this time."

This is exactly the type of activity that I would anticipate, prior to their going live once again.  If so, then there is a possibility of limited withdraws soon.

Who knows what the future holds, but I have remained optimistic that MtGox will eventually recover.