davout (OP)
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1davout
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June 12, 2011, 08:45:05 PM |
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This transaction (432kBTC) is MtGox moving money. Why is mtgox moving so much money ?? Compromised server ? Japanese governement raid ? Routine maintenance ? Something smells pretty fishy... I'll be very reassured when trading is possible again and funds withdrawable...
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piuk
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June 12, 2011, 08:46:25 PM |
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How do you know it's MT.gox?
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Findeton
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June 12, 2011, 08:46:58 PM |
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How do you know it's MT.gox?
Yeah how do you know? |
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davout (OP)
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1davout
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June 12, 2011, 08:48:11 PM |
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How do you know it's MT.gox?
Because I know how to read the fkn blockchain. |
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Astro
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June 12, 2011, 08:49:04 PM |
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We've seen him move things around before. Why is this time different?
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piuk
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June 12, 2011, 08:53:28 PM |
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Thats a hell of a lot of BTC just to have earned from transaction fees, he must be trading as well to make that much. I don't like the idea he's trading because he has a huge advantage over everyone else.
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bcearl
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June 12, 2011, 08:54:54 PM |
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Misspelling protects against dictionary attacks NOT
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MemoryDealers
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June 12, 2011, 08:56:10 PM
Last edit: June 12, 2011, 09:29:50 PM by MemoryDealers |
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If anything, this should make you feel MORE safe.
I spoke with the MTgox guys a few days ago and they were very confident that even if he was raided, everyone's bitcoins would be safe.
They are stored somewhere off site, in a foreign country, encrypted.
I suspect they are just they are overwhelmed by the quick growth of their business.
Just look at the stats. They do more than FIFTY TIMES more transactions than all the other exchanges COMBINED!
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davout (OP)
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1davout
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June 12, 2011, 08:59:10 PM |
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Thats a hell of a lot of BTC just to have earned from transaction fees, he must be trading as well to make that much. I don't like the idea he's trading because he has a huge advantage over everyone else.
You don't seem to get it, he didn't move *his* money, he moved *my* money. I think it smells funky, because if it was about consolidating coins that would have been a scheduled maintenance, anyway, consolidating coins to a single address is pretty pointless... If anything, this should make you feel MORE safe.
I spoke with the MTgox guys a few days ago and he was very confident that even if he was raided, everyone's bitcoins would be safe.
That's really stupid, my USD balance isn't stored in the blochain. |
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bcearl
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June 12, 2011, 08:59:53 PM |
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Maybe some billionaire just took ten million dollars to have some fun and bought all the coins?
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Misspelling protects against dictionary attacks NOT
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davout (OP)
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1davout
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June 12, 2011, 09:02:24 PM |
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Trades seem to be happening again
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Grant
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June 12, 2011, 09:03:26 PM |
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Trades seem to be happening again
Yay, time to panic sell, or panic buy  |
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davout (OP)
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June 12, 2011, 09:04:46 PM |
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Trades seem to be happening again
Yay, time to panic sell, or panic buy LOL |
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cypherdoc
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June 12, 2011, 10:39:43 PM |
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How do you know it's MT.gox?
Because I know how to read the fkn blockchain. Look, the guy asked you a legtimate question; how do u know its mtgox? i know how to read the block chain as well and there is nothing to indicate its mtgox who did that tx. there are other addresses in the past that have accumulated over 400K BTC's as well if u click back thru this exact chain leading up to this tx. |
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Quantumplation
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June 12, 2011, 10:43:07 PM |
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How do you know it's MT.gox?
Because I know how to read the fkn blockchain. Look, the guy asked you a legtimate question; how do u know its mtgox? i know how to read the block chain as well and there is nothing to indicate its mtgox who did that tx. there are other addresses in the past that have accumulated over 400K BTC's as well if u click back thru this exact chain leading up to this tx. The transaction shows where the money originally came from. I receive bitcoins at Address A. I send them to Mtgox. Mtgox sends them to singular address. Since I know what my address was, and the exact amount I transferred, I know it was mtgox doing the transfer because I can trace the btc back to myself. |
NOTE: This account was compromised from 2017 to 2021. I'm in the process of deleting posts not made by me.
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evoorhees
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Democracy is the original 51% attack
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June 12, 2011, 11:45:49 PM |
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The thing keeping MtGox money the most safe, is that the owners have an extreme self-interest in preserving the integrity of their trade platform. They will be getting rich for as long as it remains the primary trusted Bitcoin exchange. It would be the height of foolishness to "cash out" and run off with Bitcoins. They'd never be able to offload them before prices crashed and they'd have nothing of value, and no exchange to sell it on. Even if they did cash it all out and make a fortune, they'd have sacrificed what could be one of the most successful companies of the next decade. It'd be like someone selling full ownership of the NYSE for $10m.
The safety of the deposits is more in MtGox's interest than it is in the interest of MtGox clients, I would presume.
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cypherdoc
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June 12, 2011, 11:47:00 PM |
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How do you know it's MT.gox?
Because I know how to read the fkn blockchain. Look, the guy asked you a legtimate question; how do u know its mtgox? i know how to read the block chain as well and there is nothing to indicate its mtgox who did that tx. there are other addresses in the past that have accumulated over 400K BTC's as well if u click back thru this exact chain leading up to this tx. The transaction shows where the money originally came from. I receive bitcoins at Address A. I send them to Mtgox. Mtgox sends them to singular address. Since I know what my address was, and the exact amount I transferred, I know it was mtgox doing the transfer because I can trace the btc back to myself. thats fine and true. sounds like you're just conjecturing what davout is alluding to. i'd like to hear that fact from him, though, since he's the one pointing the finger at mtgox. but unless someone recognizes an address there's no way to tell from the block chain itself who sent what to whom. |
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bitcoinminer
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June 12, 2011, 11:48:47 PM |
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For what it's worth, there's a little more than a dollar desparity between Mt Gox and Tradehill - could be some nice day trading to be had  |
Be fearful when others are greedy, and greedy when others are fearful.
-Warren Buffett
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cypherdoc
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June 12, 2011, 11:48:52 PM |
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Even if they did cash it all out and make a fortune, they'd have sacrificed what could be one of the most successful companies of the next decade.
or next millenium |
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onesalt
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June 12, 2011, 11:49:12 PM |
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This transaction (432kBTC) is MtGox moving money. Why is mtgox moving so much money ?? Compromised server ? Japanese governement raid ? Routine maintenance ? Something smells pretty fishy... I'll be very reassured when trading is possible again and funds withdrawable... Seriously, it's thoughts like this that are destroying bitcoin. If people keep this "huh something I don't understand is going on IT MUST BE THE GOVERNMENT DOING IT TO DESTROY ME" the only thing people will think when they think bitcoin is insane, tinfoil hat wearing loonies and it'll never be taken seriously, and I don't want that to happen, So please stop doing it. |
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