Wall Observer BTC/USD - Bitcoin price movement tracking & discussion

[soullyG]

Kolin Burges ‏@The_K_meister 2m

Karpeles in Tokyo says MtGox is bankrupt. 750,000 customer bitcoins stolen & 120,000 company bitcoins stolen. None left #mtgox #mtgoxprotest

Wow, thats bullish. My biggest question is, when did the majority get lost?

Hm, not sure... it would be more bullish if he said he lost keys for those coins.

Yeah, I can't wait for him to bring up Tx-mal as the "entire reason the coins were lost" 

[dreamspark]

Lost, when did he say they were lost? He said stolen, which means they are still out there either sold, to be sold or waiting for a rainy day

[Erdogan]

Kolin Burges ‏@The_K_meister 2m

Karpeles in Tokyo says MtGox is bankrupt. 750,000 customer bitcoins stolen & 120,000 company bitcoins stolen. None left #mtgox #mtgoxprotest

Wow, thats bullish. My biggest question is, when did the majority get lost?

Hm, not sure... it would be more bullish if he said he lost keys for those coins.

A last dump for the suckers, a last opening for the most persistent bears, then ccmf!

[GreekGeek]

Today is a sad day for Bitcoin.

https://www.youtube.com/watch?v=I6vPRaIrvqU

[seleme]

I am not sure if those 750,000 bitcoins were really stolen or lost but the fact that almost 10% of the bitcoins on the network are now gone + the other 10% that are left untouched in Satoshi's wallet makes me really sad of how already scarce bitcoins are and how such a large percentage of the coins are technical locked away.  

If they are stolen they are not gone nor do they make our coins more scarce. They do only if they are in some limboworld.

[F-bernanke]

Kolin Burges ‏@The_K_meister 2m

Karpeles in Tokyo says MtGox is bankrupt. 750,000 customer bitcoins stolen & 120,000 company bitcoins stolen. None left #mtgox #mtgoxprotest

Wow, thats bullish. My biggest question is, when did the majority get lost?

Hm, not sure... it would be more bullish if he said he lost keys for those coins.

we should surely go down again today?

Yeah, maybe. but i'm not betting on it.

750k coins got removed, 6% of total supply! And those 750k coins were the most liquid coins there were, they were at an exchange ready to be traded/sold, not in some cold wallet.

[jl2012]

What is Bankruptcy Protection?

"Bankruptcy protection" is the process by which a debtor is "protected" by a court while they reorganize their finances.

Protected from what? Protected from excessively hasty or harassing creditor actions, such as foreclosures, repossessions, law suits, harassing telephone calls, and the like. A more accurate lay-terminology for filing for "bankruptcy protection" would be filing for "financial reorganization" or "financial restructuring" under Chapter 7 or Chapter 13.

Starting when the US law is applicable in Japan?  

[billyjoeallen]

Kolin Burges ‏@The_K_meister 2m

Karpeles in Tokyo says MtGox is bankrupt. 750,000 customer bitcoins stolen & 120,000 company bitcoins stolen. None left #mtgox #mtgoxprotest

So now I expect a flood of apologies from everyone who doubted it when I said they were gone...not.

Price spike second wave will occur after the denial dip that apparently already started.

[seleme]

Kolin Burges ‏@The_K_meister 2m

Karpeles in Tokyo says MtGox is bankrupt. 750,000 customer bitcoins stolen & 120,000 company bitcoins stolen. None left #mtgox #mtgoxprotest

Wow, thats bullish. My biggest question is, when did the majority get lost?

Hm, not sure... it would be more bullish if he said he lost keys for those coins.

A last dump for the suckers, a last opening for the most persistent bears, then ccmf!

Shamefully, I have to say I wouldn't mind it. I sold a lot last night 

[MikeH]

What is Bankruptcy Protection?

"Bankruptcy protection" is the process by which a debtor is "protected" by a court while they reorganize their finances.

Protected from what? Protected from excessively hasty or harassing creditor actions, such as foreclosures, repossessions, law suits, harassing telephone calls, and the like. A more accurate lay-terminology for filing for "bankruptcy protection" would be filing for "financial reorganization" or "financial restructuring" under Chapter 7 or Chapter 13.

"Sometimes, both individuals and corporations file for bankruptcy protection if they believe they can recover financially, given some time and some amount of restructuring and reorganization despite being in dire financial straits right now."

[seleme]

Kolin Burges ‏@The_K_meister 2m

Karpeles in Tokyo says MtGox is bankrupt. 750,000 customer bitcoins stolen & 120,000 company bitcoins stolen. None left #mtgox #mtgoxprotest

Wow, thats bullish. My biggest question is, when did the majority get lost?

Hm, not sure... it would be more bullish if he said he lost keys for those coins.

we should surely go down again today?

Yeah, maybe. but i'm not betting on it.

750k coins got removed, 6% of total supply! And those 750k coins were the most liquid coins there were, they were at an exchange ready to be traded/sold, not in some cold wallet.

We don't have idea when theft happened, it was surely long process and most of those coins are probably on the market for long time.

[600watt]

is this the biggest theft in history?

Biggest theft in history was the bail out of the banking system 2008. They took it while getting bonuses.

[seleme]

is this the biggest theft in history?

Biggest theft in history was the bail out of the banking system 2008. They took it while getting bonuses.

OK, OK, the biggest non-legal theft 

[macsga]

Interesting stuff there... I bet for a CCMF soon. Whoever dumped; dumped. The King is dead; Hail the King!

[MikeH]

I recommend a bail in from doge holders.

[gizmoh]

What is Bankruptcy Protection?

"Bankruptcy protection" is the process by which a debtor is "protected" by a court while they reorganize their finances.

Protected from what? Protected from excessively hasty or harassing creditor actions, such as foreclosures, repossessions, law suits, harassing telephone calls, and the like. A more accurate lay-terminology for filing for "bankruptcy protection" would be filing for "financial reorganization" or "financial restructuring" under Chapter 7 or Chapter 13.

"Sometimes, both individuals and corporations file for bankruptcy protection if they believe they can recover financially, given some time and some amount of restructuring and reorganization despite being in dire financial straits right now."

In this case, the interested parties bidding for Gox gave up. Their books are beyond repair i guess.

[F-bernanke]

We don't have idea when theft happened, it was surely long process and most of those coins are probably on the market for long time.

Yes, but up until now we had the total of 12million coins PLUS the additional 750k (gox) coins on the market.

So there were more coins on the market then actually exist.

[Chang Hum]

has the comment about the loss of bitcoins been verified?

[seleme]

Interesting stuff there... I bet for a CCMF soon. Whoever dumped; dumped. The King is dead; Hail the King!

Let me rebuy first, then we'll chochooing together 

[raid_n]

I believe the most important news now is what happened to the 750k btc (+120k gox)

Did they confirm they were in fact stolen and when it happened?