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And here comes the first bitcoin bank run
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Topic: And here comes the first bitcoin bank run (Read 1110 times)
jasonjm
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And here comes the first bitcoin bank run
February 07, 2014, 08:44:52 AM
#1
MTGOX now apparently has a backlog of withdrawals for 68 000 BTC and 38 million USD
of course, this will only build.
Maybe the fed will bail them out too? lol
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njcarlos
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Re: And here comes the first bitcoin bank run
February 07, 2014, 08:47:34 AM
#2
Except everyone running is met with a "Sorry, we're closed" sign. They've suspended pretty much all outward movement of assets.
Oh but, they returned my 3BTC that was in limbo, so that's cool. How they knew that'd make me feel better I have no idea.
jasonjm
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Re: And here comes the first bitcoin bank run
February 07, 2014, 08:49:14 AM
#3
well that is the problem with fractional reserve bitcoining I guess?
when its time to pay out, they can't print more money or more bitcoins, lol
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Oldminer
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Re: And here comes the first bitcoin bank run
February 07, 2014, 08:51:58 AM
#4
Quote from: njcarlos on February 07, 2014, 08:47:34 AM
Except everyone running is met with a "Sorry, we're closed" sign. They've suspended pretty much all outward movement of assets.
Oh but, they returned my 3BTC that was in limbo, so that's cool. How they knew that'd make me feel better I have no idea.
It makes you feel like you have achieved something. Then they can start the delay process all over again.
If you like my post please feel free to give me some positive rep
https://bitcointalk.org/index.php?action=trust;u=18639
Tip me BTC:
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guybrushthreepwood
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Re: And here comes the first bitcoin bank run
February 07, 2014, 05:03:06 PM
#5
Quote from: jasonjm on February 07, 2014, 08:44:52 AM
MTGOX now apparently has a backlog of withdrawals for 68 000 BTC and 38 million USD
Is this true? Source? Surely the can't be operating for much longer.
hilariousandco
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Re: And here comes the first bitcoin bank run
February 07, 2014, 05:11:41 PM
#6
Quote from: guybrushthreepwood on February 07, 2014, 05:03:06 PM
Quote from: jasonjm on February 07, 2014, 08:44:52 AM
MTGOX now apparently has a backlog of withdrawals for 68 000 BTC and 38 million USD
Is this true? Source? Surely the can't be operating for much longer.
https://bitcointalk.org/index.php?topic=451225.0
http://falkvinge.net/2014/02/04/major-bitcoin-exchange-not-executing-withdrawals-now-owes-clients-38m-in-disappeared-money/
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Legendary
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Activity: 1442
Merit: 1000
Antifragile
Re: And here comes the first bitcoin bank run
February 14, 2014, 08:15:45 PM
#7
Quote from: jasonjm on February 07, 2014, 08:49:14 AM
well that is the problem with fractional reserve bitcoining I guess?
when its time to pay out, they can't print more money or more bitcoins, lol
You guys should be honored that Jason stops by. He is sort of famous around here, probably a bit bitter as well.
https://bitcointalk.org/index.php?topic=169651.0
BTC = Black Swan.
BTC = Antifragile - "Some things benefit from shocks; they thrive and grow when exposed to volatility, randomness, disorder, and stressors and love adventure, risk, and uncertainty. Robust is not the opposite of fragile.
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