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Question: How much of the transaction fee profits did Mt Gox reinvest into security, infrastructure, and the exchange?
-100% (they borrowed against the profits to invest in a ponzi scheme)
-50% (they borrowed against the profits to buy hookers and blow)
-25% (one word: Amway)
-5% (when a nigerian prince emails you asking for help, you do it!)
0% (mommy and daddy demanded payment on a series of loans)

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Author Topic: Mt Gox is lying  (Read 1913 times)
mightyb
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April 12, 2013, 03:27:49 PM
 #41

I want to see more competition. Not just one exchange running everything.

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martinm
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April 12, 2013, 03:31:54 PM
 #42

More competition would be for sure a good thing, but the market is still a small one. However, MTG suffered from the panic of a lot of people, one big player sold a big amount of coins and all followed and caused a DDOS of sellers.
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April 12, 2013, 03:47:45 PM
 #43

We saw what happened to Gox with all the protection. Today, we have seen what happened to btc24... Lets wait and hope we can still prosper.
gochk
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April 12, 2013, 03:51:03 PM
 #44

More competition would be for sure a good thing, but the market is still a small one. However, MTG suffered from the panic of a lot of people, one big player sold a big amount of coins and all followed and caused a DDOS of sellers.

To be fair to MtGox, I think this is true for all tradings - have you not seen stocks in equities market drop just because some big shot sold their holdings and vice versa?
fredi173
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April 12, 2013, 04:14:28 PM
 #45

Are there any real alternatives to Gox? It seems like the most trustworthy place to send my friends interested in Bitcoins.

https://localbitcoins.com/
Alarion
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April 12, 2013, 04:40:12 PM
 #46

you know, ThePlanet was providing DDOS protection almost 10 years ago (probably 2004) - I have used it and it worked flawlessly. I didn't even have to pay extra for it. And yet, in 2013 a site that has to be making a killing on fees, can't do it?

And it is a bit shady that they only really had issues when the price was falling.

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TCollar
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April 12, 2013, 04:54:12 PM
 #47

you know, ThePlanet was providing DDOS protection almost 10 years ago (probably 2004) - I have used it and it worked flawlessly. I didn't even have to pay extra for it. And yet, in 2013 a site that has to be making a killing on fees, can't do it?

And it is a bit shady that they only really had issues when the price was falling.

Quite right.  They are using AWS for hosting behind Prolexic for DDoS prevention.

I think their delays are due to them wanting to halt trading to preserve bitcoin value, which to me shows it is valuable only when compared to other currency.  Mtgox and the company they keep are the founders / early adopters of bitcoin and to me this is fishy.  Which sucks because I have invested a good deal of money in acquiring bitcoins.
blobberTK
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May 04, 2013, 01:09:36 AM
 #48

you know, ThePlanet was providing DDOS protection almost 10 years ago (probably 2004) - I have used it and it worked flawlessly. I didn't even have to pay extra for it. And yet, in 2013 a site that has to be making a killing on fees, can't do it?

And it is a bit shady that they only really had issues when the price was falling.

DDOS is a lot more complex these days then 2004
ATC
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May 04, 2013, 03:07:04 AM
 #49

I am eager for a dencentralized exchange.
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