Gox down completely

[doobadoo]

www.mtgox.com

[maxmint]

"emergency maintenance" is the new maintenance.

[doobadoo]

They did it AGAIN.  They didn't learn from 2011, with $100k/day of revenue coming in they didn't see the need to scale fast enough.  Moreover, they never realized they had a scaling issue the whole time, and kept opening up new accounts.  Any one in their right mind would have suspended new account additions.  Not Gox, greedy fucking pigs were too worried about losing a little market share, and now what.

There is no doubt in my mind when they re-open (if they reopen in 4 hours) that they will go right back down.  This is going to be a multi-day possibly multi-week fiasco.  All the new users will freak out and leave.  Bitcoin will go back to the doldrums.

I've been saying it over and over again all the influx of new users at such a rapid pace was a bad thing for bitcoin.  Everyone had to go tell their friends to buy in.  Every one had to get on the message boards and shout down any one who tried to caution new users not to buy into a parabolic move.  Yes the community is to blame as well.   I told NO ONE to buy into this rally.

Of course i showed up shortly after the last gox fiasco in 2011 so i had little idea just how bad they could fall down.  I'm at a point where as soon as they open i will buy whatever coin i can with the fiat i have left in there and immediately tx it to my client.

I am soooo done with gox.  I'll buy more coins after the price stabilizes, and i'll do it at meetups or something.

[cryptoanarchist]

Oh for the love of God, just stop using Gox.

There are other fucking exchanges, y'know. I haven't ever used Gox.

[glendall]

Let's not be TOO hard on those guys. Look at the massive boom in the last week. Like from a logistics standpoint that would have been almost impossible to ramp up the infrastructure to maintain the volume of trades. Going forward I think the lessons will hopefully have been learnt and there will hopefully be more diversity in exchanges as well.

[superdork]

Oh for the love of God, just stop using Gox.

There are other fucking exchanges, y'know. I haven't ever used Gox.

A-fucking-men


fuck gox, and fuck monopolies. Use the other exchanges, they are better anyway.

[pretendo]

Let's not be TOO hard on those guys. Look at the massive boom in the last week. Like from a logistics standpoint that would have been almost impossible to ramp up the infrastructure to maintain the volume of trades. Going forward I think the lessons will hopefully have been learnt and there will hopefully be more diversity in exchanges as well.

It's called stress testing, which is industry standard. Their hardware is well below par for such valuable transactions and they've known this more than anyone from the start.

[doobadoo]

Let's not be TOO hard on those guys. Look at the massive boom in the last week. Like from a logistics standpoint that would have been almost impossible to ramp up the infrastructure to maintain the volume of trades. Going forward I think the lessons will hopefully have been learnt and there will hopefully be more diversity in exchanges as well.

Read my post bro.  Recognize what is happening and realize IN ADVANCE that you have a scaling issue, suspend new account, return recent deposits on newly created accounts too if you must.  But TURN AWAY THE BUSINESS YOU CAN"T MAKE GOOD ON!

Sorry for the caps.  But this is a repeat of 2011 for them.

[maxmint]

Let's not be TOO hard on those guys. Look at the massive boom in the last week. Like from a logistics standpoint that would have been almost impossible to ramp up the infrastructure to maintain the volume of trades. Going forward I think the lessons will hopefully have been learnt and there will hopefully be more diversity in exchanges as well.

Maybe they tried to do their best, but in the end it did not work out. And they did not act very professional, just look at their Twitter account: looks like an intern is tweeting for them.
And why did they accept these masses of new users?

Bitstamp also saw huge influx of traffic and trades, but they seem to be able to handle this.

[tclo]

They did it AGAIN.  They didn't learn from 2011, with $100k/day of revenue coming in they didn't see the need to scale fast enough.  Moreover, they never realized they had a scaling issue the whole time, and kept opening up new accounts.  Any one in their right mind would have suspended new account additions.  Not Gox, greedy fucking pigs were too worried about losing a little market share, and now what.

There is no doubt in my mind when they re-open (if they reopen in 4 hours) that they will go right back down.  This is going to be a multi-day possibly multi-week fiasco.  All the new users will freak out and leave.  Bitcoin will go back to the doldrums.

I've been saying it over and over again all the influx of new users at such a rapid pace was a bad thing for bitcoin.  Everyone had to go tell their friends to buy in.  Every one had to get on the message boards and shout down any one who tried to caution new users not to buy into a parabolic move.  Yes the community is to blame as well.   I told NO ONE to buy into this rally.

Of course i showed up shortly after the last gox fiasco in 2011 so i had little idea just how bad they could fall down.  I'm at a point where as soon as they open i will buy whatever coin i can with the fiat i have left in there and immediately tx it to my client.

I am soooo done with gox.  I'll buy more coins after the price stabilizes, and i'll do it at meetups or something.

People who bought into the rally at 100 and sold at 200 a few days later did just fine.

[cypherdoc]

gox will be back and stronger.

this is a buying opportunity for those who can see it.

[glendall]

Let's not be TOO hard on those guys. Look at the massive boom in the last week. Like from a logistics standpoint that would have been almost impossible to ramp up the infrastructure to maintain the volume of trades. Going forward I think the lessons will hopefully have been learnt and there will hopefully be more diversity in exchanges as well.

Read my post bro.  Recognize what is happening and realize IN ADVANCE that you have a scaling issue, suspend new account, return recent deposits on newly created accounts too if you must.  But TURN AWAY THE BUSINESS YOU CAN"T MAKE GOOD ON!

Sorry for the caps.  But this is a repeat of 2011 for them.

Well, fair enough. I see your point.  Fair enough to say that they should have at least realized they could not sustain the rapid increased rate of trade volumes so could have suspended operations.

[LouReed]

Looks like they came back up early.

[Bitmeat]

gox will be back and stronger.

this is a buying opportunity for those who can see it.

People who think like you is why this crypto-currency with so much potential is mainly only used as a commodity upon which to speculate and exchange for drugs.

[darkmule]

O RLY?

Database access error, please retry later

[LouReed]

O RLY?

Database access error, please retry later

Huh, I swear I was just on. I now get a "Please wait" when I go there. Must've got flooded. Prices just skyrocketed on BTCe briefly. BTC went from mid $60's to now $86

[maxmint]

O RLY?

Database access error, please retry later

Huh, I swear I was just on. I now get a "Please wait" when I go there. Must've got flooded. Prices just skyrocketed on BTCe briefly. BTC went from mid $60's to now $86

That can't be all because Gox opened the site again. I guess we just passed the lower limit and people are starting to buy cheap coins again.

[jbreher]

TradeHill is back in operation.

Just sayin'

[mr-sk]

Let's not be TOO hard on those guys. Look at the massive boom in the last week. Like from a logistics standpoint that would have been almost impossible to ramp up the infrastructure to maintain the volume of trades. Going forward I think the lessons will hopefully have been learnt and there will hopefully be more diversity in exchanges as well.

Nah..lets be hard on them. They are making a killing from market making and fees. Fuck them if they can't scale. Hire some people that can.

TradeHill is back in operation.

Just sayin'

No. When did you start trading? Back in 2011 I lost a bunch when tradehill decided to just close its doors and not return BTC.
Bunch of crooks. Can't believe they have the nerve to raise capital and try again.

[100%digital]

Hahaahahah, raise capital... You mean sold the btc they stole from people like you/me @ $200+