windjc
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Activity: 2156
Merit: 1070
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March 03, 2014, 08:45:04 AM |
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Lose >99% BTC Lose >40% fiat Lose database along with customer identity data
Well, Emptygox couldn't possibly have done a much worse job than this.
The statement is a joke. How come they did not realize until a few days ago that there was a huge discrepancy between the money they were holding in their bank and the money deposited by their customers? You all know this is BS and simply cannot happen. They knew very well they had less than they were supposed to, they just decided to run on fractional reserve and spent customers money to cover their own operational expenses. I wouldn't be surprised if Karpeles even cashed out dividends at some point while knowing the company was virtually bankrupt. He doesn't need dividend. Just by insider trading and arbitraging he would have earned a lot. According to sturle they "didn't need" to run on fractional reserve as they did "so much money" in fees that they could have covered ANY hole caused by seizures, misappropriations and whatnot. My reply: never underestimate greed and incompetence. Bad management can destroy the biggest company in the world. Yes, hopefully authorities will do a good job on investigating that angle. It isn't credible that they didn't notice the fiat hole before. Well, I am probably the least conspiratorial minded bitcoiner in the universe. But there is absolutely zero way that Karpeles is not lying. There is no way MtGox "lost" that much coin. No way, no how. I assume this man is going to jail. Unless there is some inexplicable explanation that he just hasn't or can't tell us yet, then he has lied and lied and lied and lied and lied over and over and over again. I think Mark is living and has been living in a state of denial. I do not think he is even being honest with himself. He is living a life of lies at the moment. I think its going to be a long ugly road from here to the truth.
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TERA
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March 03, 2014, 08:51:33 AM |
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Today I increased my position from 35% to 50%. I will increase it again when 666 breaks.
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koryu
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March 03, 2014, 08:53:11 AM |
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i expected that we will break the downtrend today but do you think its a trap or its really going up from now?
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EuroTrash
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March 03, 2014, 08:54:15 AM |
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According to sturle they "didn't need" to run on fractional reserve as they did "so much money" in fees that they could have covered ANY hole caused by seizures, misappropriations and whatnot.
My reply: never underestimate greed and incompetence. Bad management can destroy the biggest company in the world.
I wonder where sturle is hiding his face now. I remember him incessantly defending Gox in the Service Discussion threads throughout 2013.
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mmitech
Legendary
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Activity: 1148
Merit: 1001
things you own end up owning you
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March 03, 2014, 08:54:33 AM |
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Today I increased my position from 35% to 50%. I will increase it again when 666 breaks.
this time if I buy back I will take a break from trading for few months I find it to be the best move when things doesn't work like you've planned, take a break and come back with new energy to not fuck up the profits you achieved
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mmitech
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Activity: 1148
Merit: 1001
things you own end up owning you
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March 03, 2014, 08:55:37 AM |
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According to sturle they "didn't need" to run on fractional reserve as they did "so much money" in fees that they could have covered ANY hole caused by seizures, misappropriations and whatnot.
My reply: never underestimate greed and incompetence. Bad management can destroy the biggest company in the world.
I wonder where sturle is hiding his face now. I remember him incessantly defending Gox in the Service Discussion threads throughout 2013. he is hiding behind shame...
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hmmmstrange
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March 03, 2014, 08:56:22 AM |
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Well, I am probably the least conspiratorial minded bitcoiner in the universe. But there is absolutely zero way that Karpeles is not lying. There is no way MtGox "lost" that much coin. No way, no how.
I assume this man is going to jail. Unless there is some inexplicable explanation that he just hasn't or can't tell us yet, then he has lied and lied and lied and lied and lied over and over and over again.
I think Mark is living and has been living in a state of denial. I do not think he is even being honest with himself. He is living a life of lies at the moment. I think its going to be a long ugly road from here to the truth.
You have to admit, what ever happened, it is impressive that he got 100k's of people to hand over billions of dollars worth of assets to him. My hat's off to you Mark, well done.
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MANofthePEOPLE
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March 03, 2014, 09:06:22 AM |
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Haha moving his wall every time it goes up a dollar. Interesting to see which wall that falls first at 599
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yrtrnc
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March 03, 2014, 09:09:58 AM |
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In cinemas now!
WAR OF THE WALLS
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Hen0xyd
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Activity: 87
Merit: 10
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March 03, 2014, 09:10:02 AM |
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Haha moving his wall every time it goes up a dollar. Interesting to see which wall that falls first at 599
Yeah funny to see how people can "play" with almost 2M$, but i doubt he will push to 599.
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TERA
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March 03, 2014, 09:10:49 AM |
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i expected that we will break the downtrend today but do you think its a trap or its really going up from now? There's a definite possibility of a trap, but I'm not sure. That's why I'm in a 50% position. Things for a reversal: -We have broken the 1 month downtrend (on a linear chart). -MACD is up. -There are impressive walls on bitstamp. -The length in time of the bear market is consistent with previous ones in 2012 and 2013. Things against a reversal: -The stoch RSI is/was too high. -Low volume. -We are not trending on the log support trendline but significantly above it still. -The 610-660 area is cluttered with resistances on the 3 day and 1 week chart and there is no room for a significant upsurge here. -If you look on a look at a logarithmic chart, we have actually not yet broken the 1 month downtrend.
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hdbuck
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Activity: 1260
Merit: 1002
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March 03, 2014, 09:15:58 AM |
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Haha moving his wall every time it goes up a dollar. Interesting to see which wall that falls first at 599
Yeah funny to see how people can "play" with almost 2M$, but i doubt he will push to 599. Shady as hell. Something's up. I doubt the whale is just messing around for fun.. Oh well, maybe not.
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TERA
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March 03, 2014, 09:22:50 AM |
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Haha moving his wall every time it goes up a dollar. Interesting to see which wall that falls first at 599
Yeah funny to see how people can "play" with almost 2M$, but i doubt he will push to 599. Shady as hell. Something's up. I doubt the whale is just messing around for fun.. Oh well, maybe not. I've seen this behavior happen many times in 2013. It doesn't seem shady to me - just a big player accumulating a position after all the speculators have finally stopped trading. He knows people will dump into his walls because the bear market is fresh on everyone's mind and they will think the wall is 'shady', or that there are dark-orders. The question is does this one guy mean the entire market should move permanently.
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koryu
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March 03, 2014, 09:24:49 AM |
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i expected that we will break the downtrend today but do you think its a trap or its really going up from now? There's a definite possibility of a trap, but I'm not sure. That's why I'm in a 50% position. Things for a reversal: -We have broken the 1 month downtrend (on a linear chart). -MACD is up. -There are impressive walls on bitstamp. -The length in time of the bear market is consistent with previous ones in 2012 and 2013. Things against a reversal: -The stoch RSI is/was too high. -Low volume. -We are not trending on the log support trendline but significantly above it still. -The 610-660 area is cluttered with resistances on the 3 day and 1 week chart and there is no room for a significant upsurge here. -If you look on a look at a logarithmic chart, we have actually not yet broken the 1 month downtrend. i think the 3k wall is no fake but i think the same person has a sell wall at 600$, too. And thats also what i think to happen, we will stay at 590-600 for a while. now its important how many people have shorts running and stop them, then we could break the 600. stil there is much resistance on the way up so i expect a slow uptrend. /edit: amazing would be if he really has some ask walls and remove them as soon as the price goes up.
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MANofthePEOPLE
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March 03, 2014, 09:25:45 AM |
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I'm curious what would happen if he removes his wall? Probably fear and dump. He is the reason we are at 593 after all
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MoreFun
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Activity: 1008
Merit: 1003
WePower.red
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March 03, 2014, 09:26:25 AM |
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Haha moving his wall every time it goes up a dollar. Interesting to see which wall that falls first at 599
Yeah funny to see how people can "play" with almost 2M$, but i doubt he will push to 599. Shady as hell. Something's up. I doubt the whale is just messing around for fun.. Oh well, maybe not. I've seen this behavior happen many times in 2013. It doesn't seem shady to me - just a big player accumulating a position after all the speculators have finally stopped trading. He knows people will dump into his walls because the bear market is fresh on everyone's mind and they will think the wall is 'shady', or that there are dark-orders. The question is does this one guy mean the entire market should move permanently.This is the main question, valid point.
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Vigil
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March 03, 2014, 09:29:04 AM |
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i think the 3k wall is no fake but i think the same person has a sell wall at 600$, too. And thats also what i think to happen, we will stay at 590-600 for a while. now its important how many people have shorts running and stop them, then we could break the 600. stil there is much resistance on the way up so i expect a slow uptrend.
Then you shouldn't be posting on here.
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TERA
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March 03, 2014, 09:30:50 AM |
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We should also question why is the volume so low yet the price rising. A low volume means not only that people are not buying but that people are not selling. Why are people not selling? It could be a trap, or it could a legitimate situation called lack-of-supply. See, in bitcoin, not everything happens on exchanges, and we have to speculate about what is going on off of exchanges. A lack of selling can be because some big player opened up a contract to buy coins directly from whales and miners offline. In this case, if the offline buying is large and consistent enough, it warrants a legitimate reversal. This has happened in the past due to Winklevoss, SecondMarket, Fortress, etc.
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mb300sd
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Activity: 1260
Merit: 1000
Drunk Posts
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March 03, 2014, 09:31:45 AM |
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Whoever wally is, I like him. Keep moving it up
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Kleptoid
Newbie
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Activity: 35
Merit: 0
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March 03, 2014, 09:31:53 AM |
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It's broken 3500 in China, looks like some panic buying happening there.
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