MtGox withdrawal delays [Gathering]

[roslinpl]

Good news everyone!


16:44 <@ne0futur> until unverified accounts used the malleability backdoor to get double paid

Nice. So MtGox remote support person William Waisse ("ne0futur) just admitted on the official #mtgox IRC channel that unverified accounts were used to steal unknown amounts of BTC.

Hehe the Gox the gox badly

[1714225911]

1714225911

[1714225911]

1714225911

[MikkisJ]

Is #mtgox open to everyone? I'm an IRC noob and can't seem to register...

You have to have a registered nickname and then identify yourself to nickserv.

[kano]

Is #mtgox open to everyone? I'm an IRC noob and can't seem to register...

You have to have a registered nickname and then identify yourself to nickserv.

I actually have tried this but failed, but I know it is off-topic here... Just wanted to know if it is public, thanks for your answer!

They like blocking people ... I couldn't get in the day after I said:

Log opened Thu Jan 23 11:14:51 2014
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11:15 < kanoi> woo today is 7 weeks waiting for a $1000 withdraw and no idea if they've even started it yet

That same day, I sent a support request asking where it was, and they replied 6 days later that they hadn't sent it yet.

[roslinpl]

Is #mtgox open to everyone? I'm an IRC noob and can't seem to register...

there are some problems with it
better stay away

[kano]

Is #mtgox open to everyone? I'm an IRC noob and can't seem to register...

You have to have a registered nickname and then identify yourself to nickserv.

I actually have tried this but failed, but I know it is off-topic here... Just wanted to know if it is public, thanks for your answer!

They like blocking people ... I couldn't get in the day after I said:

Log opened Thu Jan 23 11:14:51 2014
.
.
.
11:15 < kanoi> woo today is 7 weeks waiting for a $1000 withdraw and no idea if they've even started it yet

That same day, I sent a support request asking where it was, and they replied 6 days later that they hadn't sent it yet.

Ah, yes, but I'm unable to register on the nickserv. Just don't have much time now to do the research...

My nick is registered ... for years ...

[mightycount]

Karpeles resigning and the reset Twitter accounts is because Karpeles will announce this week that he will no longer be the CEO of MtGox. There will be a professional CEO at the head of Gox who will (try to) make MtGox again a succesfull exchange.

I have no insider info, just my guess.

Wishful thinking. I don't know what will happen but this appears unlikely to me. I can see three scenarios:

• Hard bankruptcy, remaining fiat and bitcoins are shared out in proportion after losses are deducted
• Takeover by another company with deep coffers (not too likely, in my view, because Mt. Gox does not look very attractive)
• Mt. Gox wriggles through and comes out solvent, perhaps barely solvent, and continues to pay out slowly (also wishful thinking, but not entirely impossible).

The loss of reputation would be difficult to reverse, so I find it hard to see any rosy future for Mt. Gox.

Agree with your points although I don't think Gox would be that unattractive. An outside investor would see a huge client base and an opportunity to turn things around.

There could be a lot of value unlocked if MtGox could regain a trustworthy image, no question. Huge client base, the brand, the contracts and the profitable operations. I hope it won't take a square full of people with bats to dethrone the fool.

[mike81]

What is happening is that, when I try to register my username, it says it is already registered on my IP. But when I try to login, it says that my username is not registered  Then I tries to force me to register something like username1.

Did you verify that username through the email-link?

[bassclef]

Karpeles resigning and the reset Twitter accounts is because Karpeles will announce this week that he will no longer be the CEO of MtGox. There will be a professional CEO at the head of Gox who will (try to) make MtGox again a succesfull exchange.

I have no insider info, just my guess.

Wishful thinking. I don't know what will happen but this appears unlikely to me. I can see three scenarios:

• Hard bankruptcy, remaining fiat and bitcoins are shared out in proportion after losses are deducted
• Takeover by another company with deep coffers (not too likely, in my view, because Mt. Gox does not look very attractive)
• Mt. Gox wriggles through and comes out solvent, perhaps barely solvent, and continues to pay out slowly (also wishful thinking, but not entirely impossible).

The loss of reputation would be difficult to reverse, so I find it hard to see any rosy future for Mt. Gox.

Agree with your points although I don't think Gox would be that unattractive. An outside investor would see a huge client base and an opportunity to turn things around.

There could be a lot of value unlocked if MtGox could regain a trustworthy image, no question. Huge client base, the brand, the contracts and the profitable operations. I hope it won't take a square full of people with bats to dethrone the fool.

Agree. Mark could also tap into the anti-Bitcoin Foundation crowd as potential customers.

[roslinpl]

Agree. Mark could also tap into the anti-Bitcoin Foundation crowd as potential customers.

hehe Mark will do everything just to dump the price and get cheap BTC


Mark Karpeless is a bad dream of Bitcoin...
Need to wake up!

[Asinine]

I don't know whether to laugh or cry...
http://valleywag.gawker.com/if-you-have-bitcoin-in-mt-gox-you-are-probably-fucked-1529946212

[iikun]

I don't know whether to laugh or cry...
http://valleywag.gawker.com/if-you-have-bitcoin-in-mt-gox-you-are-probably-fucked-1529946212

this article just seems to repeat what we already knew a day or so ago though. When even Coindesk start publishing (slightly) good news about gox though, that's when I sit up & listen.

Final paragraph they reference Charlie Shrem's reddit post:
http://www.coindesk.com/japan-regulators-mt-gox-intervention-unlikely/
http://www.reddit.com/r/Bitcoin/comments/1yre42/mt_gox_ceo_resigns_from_bitcoin_foundation/cfn38sq

[zyk]

I must say that today I received a EUR 10,000 withdrawal that has been pending on MtGox from Jan 5 this year. Have some other withdrawals pending, but also reinvested some money in BTC at current low prices. I think bitcoin in the longer run will survive, so if Mt Gox also survives or is taken over by a competitor I might have decent gains on my last investments. If they don't suvive then I'm not convinced that I will recover a larger percentage of my cash than of my coins. If the coins then go back to the average value on the other exchanges, it might be better to be in coins. Or am I making a mistake in my reasoning?

I think you have done the right thing.
I believe Bitcoin exchanges are un regulated– there is nothing stopping Mt gox buying bitcoins at about $170 – transfer bitcoins to bitstamp and sell for $570  and bring the money back into the mtgox . (Then repeat this process)
– Then reopen the exchange – when they have enough funds to pay every one

thats hogwash...nobody sells them btc for 170 dollars...they ( and cronies) are selling cause they know its over !

[kano]

At this point 744,408 BTC are missing due to malleability-related theft which went unnoticed for several years.

Edit: http://www.scribd.com/doc/209050732/MtGox-Situation-Crisis-Strategy-Draft

[Asinine]

Trading on Gox appears to have been down for about 45 minutes...

[iikun]

At this point 744,408 BTC are missing due to malleability-related theft which went unnoticed for several years.

Edit: http://www.scribd.com/doc/209050732/MtGox-Situation-Crisis-Strategy-Draft

personally i don't believe that this could happen as there would be checks on the cold wallets if they really burned through that amount. That would add up to 100s of coins every single day of gox's existence. I'm not saying a large amount of funds isn't missing, I just don't believe it could amount to that much.

Also, I can't find the original source for this claim anywhere..just reposts of the claim

[barryliu]

MT GOX plat form stop trading from 2 am (greenwich time)

just one hour ago!!!!

what happen???

no announcement issue for MTGOX website!!!

[FrictionlessCoin]

http://blog.coinbase.com/post/77766809700/joint-statement-regarding-the-insolvency-of-mtgox

[kevinm]

perhaps they suspended trading as a knee-jerk reaction to the scribd "crisis" article.

cheers,
kev

[donk4u]

http://blog.coinbase.com/post/77766809700/joint-statement-regarding-mtgox

mt gox denounced by reputable exchanges as being a bad actor while obvious gox will drag bitcoin to the grave until there is regulation bitcoin is doomed to pariahs like mt gox and fat fuck karpeles.

[Asinine]

Gox's website is now offline as well, serving a blank homepage.