So why is gox doing that?

[lucif]

Unbelievable!

https://mtgox.com/press_release_20130412.html

They do believe that price will rise! They are intermediary. This is nonsense! This is like judge will say before round "I believe that party will win". They should stay away from speculation and provide good services for speculators. Indeed we see they are interested party.

All going by way I expect: Mtgox stays behind this bubble inflation and real bitcoin economy collapse due volatility.

Mtgox stays behind centralizing of Bitcoin economy and preparation of it for deadly punch from interested parties.

I don't related to ddos of their services, but now I understand why. kill Mtgox with fire please

https://bitcointalk.org/index.php?topic=176284

[MarKusRomanus]

Unbelievable!

https://mtgox.com/press_release_20130412.html

They do believe that price will rise! They are intermediary. This is nonsense! This is like judge will say before round "I believe that party will win". They should stay away from speculation and provide good services for speculators. Indeed we see they are interested party.

All going by way I expect: Mtgox stays behind this bubble inflation and real bitcoin economy collapse due volatility.

Mtgox stays behind centralizing of Bitcoin economy and preparation of it for deadly punch from interested parties.

I don't related to ddos of their services, but now I understand why. kill Mtgox with fire please.

You statement is even more irresponsible.  If Mtgox is to fail.. it should be by a better trading platform arising and taking away from their business.. not because you or some ahole with 10000 bots decides it. (or is hired by someone who decides it).  In my experience with Forex
 trading companies with regular currencies they are always presenting technical analysis and predictions of possible movements.. its nothing new.

[lucif]

But they force the price. They are okay with 100% rise and halt engine with 50% fall.

Bears, let's punish gox coinz  from secondary markets.

And no, i don't own bots .

[Herodes]

Unbelievable!

https://mtgox.com/press_release_20130412.html

They do believe that price will rise! They are intermediary. This is nonsense! This is like judge will say before round "I believe that party will win". They should stay away from speculation and provide good services for speculators. Indeed we see they are interested party.

They do not have a professional PR department. That's the way it is.

[Phinnaeus Gage]

...but we are confident that this Panic Sell will be temporarily and that Bitcoin will rise again.

I don't think they should have said that.

Another thing I find bothersome is the overuse of the terms dDos, attack(s), et al. It's like they're trying really hard to drive that point into our heads. I'm not sure, but the best practice would be to mention it once, and maybe only touch upon it again ever so slightly, driving the server aspect home, and not even mentioning the above quote.

But what the hell do I know? I'm just a guy with a...

I smell bacon, BWB!

[lucif]

Read between strings: We have collected >10% of all bitcoins, we do believe this crazy bubble will continue, fiat will come in good so we gonna sell well.

[moni3z]

I'm going to assume they tinker with the price by flooding their own site with bots since they gave advice the price would go up

[lucif]

Btw, if mtgox ensures people that it's okay and price gonna up - this is really bad. It looks like they used the last backup force (exchange must NOT do such claims).

Since they said that shit - they officially became Ponzi organizers. As the primary sign of Ponzi is promising "obvious high profits".

It was a claim which can be fundamental of crime.

[MPOE-PR]

Unbelievable!

https://mtgox.com/press_release_20130412.html

They do believe that price will rise! They are intermediary. This is nonsense! This is like judge will say before round "I believe that party will win". They should stay away from speculation and provide good services for speculators. Indeed we see they are interested party.

All going by way I expect: Mtgox stays behind this bubble inflation and real bitcoin economy collapse due volatility.

Mtgox stays behind centralizing of Bitcoin economy and preparation of it for deadly punch from interested parties.

I don't related to ddos of their services, but now I understand why. kill Mtgox with fire please

Short answer: They are idiots, with absolutely no clue as to what they're doing. None. At all.

Long answer: They're long a good chunk of BTC at much higher prices. If BTC stays where MP says they lose the house and eventually will have to close down. Which, of course, would be a great thing.

Also relevant: https://bitcointalk.org/index.php?topic=170068.msg1835797#msg1835797

[lucif]

https://bitcointalk.org/index.php?topic=176284

[dutt]

They already said something like this in this one https://mtgox.com/press_release_20130404.html

I understand that many of you have a lot at stake here, but remember that Bitcoin, despite being designed to have its value increase over time, (...)

Another reason why I suspect them to be the ones who fake their own lag when prices drop too fast or they see lots of sell orders coming in, maybe even frontrunning...

[naphto]

What's wrong with that?

All brokers are giving tips/advices and forecasts for possible evolution of prices on every markets. Why would it be different here?

[MarKusRomanus]

Overreaction to mtgox stating the obvious..."There is no doubt that we are expecting a violent crash of Bitcoin after trading resumes, but we are confident that this Panic Sell will be temporarily and that Bitcoin will rise again."

[DeathAndTaxes]

What's wrong with that?

All brokers are giving tips/advices and forecasts for possible evolution of prices on every markets. Why would it be different here?

Um because they are an exchange not a broker.  They aren't paid for nor qualified to give financial advice.  Remember when facebook stock had horrible technical issues on NASDAQ its opening day.  NASDAQ fixed the issues (paid some fines and settled a lawsuit IIRC) and announced the fix.  They said nothing about the decline of facebook is over an now it is ready for higher prices.  They fixed the issue, operated a clean, transparent market, and allows the MARKET not the EXCHANGE to determine the price.

[MarKusRomanus]

Forex.com gives their clients a constant stream of news and technical analysis.  Soooo.... Whats the big problem?

[Manticore]

Forex.com gives their clients a constant stream of news and technical analysis.  Soooo.... Whats the big problem?

"but we are confident that this Panic Sell will be temporarily and that Bitcoin will rise again."


Anyone in the financial industry would immediately be struck with how bizarre it is for Mt Gox to make these types of statements. FINRA and/or CFTC would severely censure/shut down any investment scheme, brokerage, fund, etc, that made this statement. And they would be liable for severe civil penalties. These statements might actually be more unprofessional than their, IMO, manipulation of pricing action. This is brash and shows that they are very out of touch with the investment world.

[Manticore]

They are constantly making unprofessional statements that sound quite desperate, actually.

https://bitcointalk.org/index.php?topic=172944.msg1805765#msg1805765

[Wekkel]

Bitcoin is the Wild West. Stop whining and make your own plans if Gox is so bad.

[Come-from-Beyond]

Btw, if mtgox ensures people that it's okay and price gonna up - this is really bad. It looks like they used the last backup force (exchange must NOT do such claims).

Since they said that shit - they officially became Ponzi organizers. As the primary sign of Ponzi is promising "obvious high profits".

It was a claim which can be fundamental of crime.

Technically u should blame Satoshi. Early adopters reward is set by his design.

[MPOE-PR]

What's wrong with that?

All brokers are giving tips/advices and forecasts for possible evolution of prices on every markets. Why would it be different here?

Um because they are an exchange not a broker.  They aren't paid for nor qualified to give financial advice.  Remember when facebook stock had horrible technical issues on NASDAQ its opening day.  NASDAQ fixed the issues (paid some fines and settled a lawsuit IIRC) and announced the fix.  They said nothing about the decline of facebook is over an now it is ready for higher prices.  They fixed the issue, operated a clean, transparent market, and allows the MARKET not the EXCHANGE to determine the price.

Yeah but on the other hand NASDAQ hadn't bought tons of FB stock at the peak either.

Bitcoin is the Wild West. Stop whining and make your own plans if Gox is so bad.

It doesn't just make Mtgox look bad, it perpetuates the myth that Bitcoin is a ponzi.  Other responsible exchanges no making these kinds of idiotic claims doesn't undo the fact MtGox is being irresponsible.  I mean your comment is like saying "If you don't like that Madoff is runing a ponzi scheme, shut up and make your own non-Ponzi brokerage".  

MtGox has made other similarly bad statements in recent days.  Claiming they were shutting down for a "market cooldown" was equally idiotic.  They shutdown because they trading engine couldn't handle a nominal amount of trades.  Other exchanges continued to operate and the price remained relatively flat during the "cooldown" so the idea that market needed any type of circuit breaker was false and making the claim was irresponsible.  In the eyes of the media an uninformed, it made it look like MtGox has central control over currency conversion.

Exactly. Or to quote MP,

What can you do?

I understand that many of you have a lot at stake here, but remember that Bitcoin, despite being designed to have its value increase over time, will always be the victim of people trying to abuse the system, or even the value of Bitcoin decreasing occasionally. These are not new phenomena and have been present since the beginning of time when humans first started trading.

This right here is an outrage, and I plainly demand an immediate apology from MtGox.

At issue is the misstatement that "Bitcoin was designed to have its value increase over time", which other than being grossly ignorant is also absolutely false. At issue also is the misstatement that "even the value of Bitcoin decreasing occasionally", which other than being grossly ignorant is also harmful to Bitcoin.

This is Ponzi talk, fuckwits. Bitcoin isn't a Ponzi. What are you doing here! Who are you! What are you for!