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wopwop (OP)
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April 11, 2013, 02:19:07 PM
Last edit: April 11, 2013, 02:37:59 PM by wopwop |
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MtGox is selling all their own bitcoins (from fees) first at the highest bid before you normal people can continue selling
thoughts?
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Every time a block is mined, a certain amount of BTC (called the
subsidy) is created out of thin air and given to the miner. The
subsidy halves every four years and will reach 0 in about 130 years.
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bitarrow
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April 11, 2013, 02:21:05 PM |
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what is this bullshit???
Who they fuck are they to tell us to cooldown?
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b!z
Legendary
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Activity: 1582
Merit: 1010
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April 11, 2013, 02:22:40 PM |
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Oh shit, I just sent some coins in Mt Gox. inb4 i lose them all.
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dave111223
Legendary
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Activity: 1190
Merit: 1001
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April 11, 2013, 02:24:34 PM |
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Would you liquidate a business that was earning you 60K-100K profit per day?
Why would they commit suicide by liquidating all their coins at once on their own exchange?
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Wuji
Newbie
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Activity: 56
Merit: 0
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April 11, 2013, 02:24:41 PM |
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Are other exchanges still running? Is everyone going to transfer more BTC to other exchanges and continue to try and evacuate? This would seem most likely to me. This might be Mt Gox's downfall. I know I'm done using them.
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Blazr
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April 11, 2013, 02:26:11 PM |
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thoughts?
Put the tinfoil hat down! |
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bitarrow
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April 11, 2013, 02:28:27 PM |
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Im done using them as well!!!
I was in the middle of a trade. Now Im stuck with USD and out 1k btc.
At least give us a damn warning.
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Wuji
Newbie
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Activity: 56
Merit: 0
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April 11, 2013, 02:29:47 PM |
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thoughts?
Put the tinfoil hat down! If your paycheck just cleared into your bank and their website became unusable. Then at night they said there is no DDOS this is just success. Then the next day they said this is a DDOS we are shutting down for 24 hours. How would that make you feel about your bank? Why should you give Mt Gox more leeway with your money? Maybe you'd be fine with that scenario but, I for one would not. No tin foil hat involved, I just want a stable place I trust to store my wealth. Having the FDIC back it helps a lot as well. |
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giarc
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April 11, 2013, 02:29:51 PM |
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MtGox is selling all their own bitcoins (from fees) first at the highest bid before you normal people can continue selling
thoughts?
They are clearly run by idiots,they risk creating a panic by sudden actions like this. Now holding bitcoins at mtgox has a risk attached as you might not be able to use them when you want them. |
If anything I've said is vaguely useful feel free to show your appreciation
btc: 1MfMjYXnHkGyRSE9f14XJsmxruuiVreEDh
bte: 8dH3WNre8DPyuj3oCFFNetTtVMXygs59t8
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bitarrow
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April 11, 2013, 02:31:52 PM |
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Who has the next most trading volume after Mtgox  |
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Coincrazy
Newbie
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Activity: 28
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April 11, 2013, 02:32:46 PM |
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MtGox is selling all their own bitcoins (from fees) first at the highest bid before you normal people can continue selling
thoughts?
They are clearly run by idiots,they risk creating a panic by sudden actions like this. Now holding bitcoins at mtgox has a risk attached as you might not be able to use them when you want them. which other exchange is working |
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tosku
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April 11, 2013, 02:33:44 PM |
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As long as Mt.Gox does not stop transfers of BTC to other exchanges, this is very good. People will migrate their BTC to other exchanges, and Mt.Gox's market share will dwindle. That is a good thing.
However, I fear that all the money that has been deposited into Mt.Gox will be locked in there (since it's kind of a hassle to move money out of Mt.Gox), and that will make the USD/BTC exchange rate go even lower.
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Skude.se/BTC - an easier way to request your daily free coins!
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flaab
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April 11, 2013, 02:34:57 PM |
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MtGox is selling all their own bitcoins (from fees) first at the highest bid before you normal people can continue selling
thoughts?
They are clearly run by idiots,they risk creating a panic by sudden actions like this. Now holding bitcoins at mtgox has a risk attached as you might not be able to use them when you want them. Exactly. I can't sell. |
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blackreplica
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April 11, 2013, 02:35:10 PM |
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I was lucky beyond belief. I bought back into my earlier short sell and less than 10 minutes later Gox shuts down. I just transferred all my BTC out of Gox to my wallet. Unless you're planning on trading em the moment the exchange opens, I recommend you guys do the same
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www.sgBitcoin.net - The Premier News, Discussion & Marketplace Destination for the Singaporean Bitcoin Community
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Mae
Newbie
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Activity: 22
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April 11, 2013, 02:37:14 PM |
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"BitCoin, the decentralized currency" Oh, really?
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HappyBitCoinUser
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April 11, 2013, 02:38:03 PM |
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Excuse me for my ignorance, but did Mt Gox announce they were shutting down for 24hrs? If so where is the announcement?
What am I going to do for next 24 hrs? I can't sleep that long  |
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phlogistonq
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April 11, 2013, 02:38:11 PM |
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The only way this could have worked if they had coordinated it with all the major exchanges. A global 24 hr cooldown period for (nearly) all bitcoin trading. Ofcourse, nothing prevents direct person-to-person transactions on bitcoin-otc for example. Now holding bitcoins at mtgox has a risk attached as you might not be able to use them when you want them. This +1. Doing this singlehandedly without warning in a period of extreme volatilty is so stupid it is almost incredible. MtGox commited suicide I think. |
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DutchBrat
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April 11, 2013, 02:38:43 PM |
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TOKYO - JAPAN - April 11, 2013 Hi everyone, just a quick update on the situation and what happened last night. First of all we would like to reassure you but no we were not last night victim of a DDoS but instead victim of our own success! Indeed the rather astonishing amount of new account opened in the last few days added to the existing one plus the number of trade made a huge impact on the overall system that started to lag. As expected in such situation people started to panic, started to sell Bitcoin in mass (Panic Sale) resulting in an increase of trade that ultimately froze the trade engine! To give you an idea of how impressive things were here are some numbers that we would love to share with you guys: - The number of trades executed tripled in the last 24hrs. - The number of new account opened went from 60k for March alone to 75k new account created for the first few days of April! We now have roughly 20,000 new accounts created each day. Due to these facts we have been busy working on improving things since last week and our team has been working around the clock to improve Mt.Gox to catch up with the demand. We will continue to release several updates today and in the coming few days to improve our system overall performance. Also please note that we may have to close the exchange for two hours in the next 12 to 24hrs to add several new servers to our system. Thank you for your understanding and continuous support! Regards Mt.Gox Co. Ltd Team. Mt.Gox Contact press@mtgox.comThey will prolly go down for a few hours to add extra servers within the next 24 hrs Never ceases to amaze me what bad readers some people are |
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wopwop (OP)
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April 11, 2013, 02:39:17 PM |
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Excuse me for my ignorance, but did Mt Gox announce they were shutting down for 24hrs? If so where is the announcement?
Ah it's 12 hours You see it when you try to sell or buy bitcoins.... there's no public announcements |
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HappyBitCoinUser
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April 11, 2013, 02:41:06 PM |
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for two hours in the next 12 to 24hrs How do people not understand the meaning? |
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