MtGox withdrawal delays [Gathering]

[solex]

Where you at sturle?

[itsunderstood]

[itsunderstood]

[Phinnaeus Gage]

This thread start over ten months ago, with nearly 5400 posts and over a quarter of a million views... And nobody seen this day coming.

[itsunderstood]

[itsunderstood]

[itsunderstood]

[itsunderstood]

[itsunderstood]

[itsunderstood]

I'll give it a rest.

If anything, I participate in this thread to bring healing manna, to those who've now been cast adrift into the web-page deletion purgatory of today's super smart world.  God damn these coinstealing wretches, of all forms.

To see someone buy Gox, fix their code, refloat their coins, and with value-add, bring life to their brand, would be nice.  Yes, also, I am available for work.  PM me.  But, I will be paid in [censored]coin, so know that in advance.

[BitPaulo]

It's a good article to read again, this guy made spot on predictions based on poker recent past experience...
http://www.coindesk.com/mt-gox-may-headed-bankruptcy/

"FullTiltPoker enjoyed market dominance from late 2006 until their DOJ indictment in April 2011. Soon after being banned from servicing US players, the DOJ gave them permission to repay all depositors, but they failed to do so.

On May 15th, FTP claimed: “Full Tilt Poker faced numerous challenges and hurdles to ensuring the smooth operation of its international business and the orderly return of US player funds. We are absolutely committed to making sure that US players are refunded as soon as possible. We apologize for the delay and the fact that we underestimated the time it would take to work through these issues.”

On May 30th, they repeated:

“We still do not have a specific timeframe for [paying back players]. There has been, and remains, no bigger priority than getting US players paid as soon as possible, and we have been working around the clock to get this done.”

However, at this point, they admitted solvency issues for the first time, saying: “We are raising capital to ensure that the US players are paid out in full as quickly as possible.” The company admitted total insolvency three months later, on August 31st."

[newguy05]

Does anyone know if sturle is ok?

[MartinPr]

Fiat currency or BTC sent to stocks belongs customers. MtGox was not able to check wheter double asks for BTC withdrawal are rightfull. They send BTC payments twice without propper check.
But it is also fraud of double asking customers. The accounts are verified, so they should give police names of all theese people who fraudulently ask for double payments. They had stolen BTC that was lent to stock.

[itsunderstood]

Fiat currency or BTC sent to stocks belongs customers. MtGox was not able to check wheter double asks for BTC withdrawal are rightfull. They send BTC payments twice without propper check.
But it is also fraud of double asking customers. The accounts are verified, so they should give police names of all theese people who fraudulently ask for double payments. They had stolen BTC that was lent to stock.

According to the release, these were non-verified thieves.

[MartinPr]

Verified customers only are allowed to withdraw funds.

[tvbcof]

Does anyone know if sturle is ok?

I'm sure that Strudle is way more than OK.  He must have been making tons of money, and probably multipied that many fold by keeping people in the game at Gox for many months and thus the huge arbitrage opportunities going for much longer than I would have imagined.

[raskul]

Does anyone know if sturle is ok?

he'll be fine, he'll be sitting quietly in the dark waiting on the takeover announcement, then he'll be back with his 'i told you so'
and we'll all be devastated that we didn't take his advice*



*sarcasm.

[BitPaulo]

has the malleability been fixed? can the problem still happen in other exchanges?

[solex]

has the malleability been fixed? can the problem still happen in other exchanges?

tx malleability was never a bug, just a design compromise, with risks, which needed to be worked around when building exchange (and similar) systems. However, core dev have recently made a few improvements which makes containing the risks easier. All the other exchanges are fully aware of it and done necessary changes. Kraken for one did not need any changes.

MtGox's problem stems from being the first exchange and making an early custom copy of the software, not properly coping with tx malleability, maybe because their business grew so fast they were distracted by performance issues, and negligent in maintaining certain other areas of their system.

[Grinder]

Does anyone know if sturle is ok?

I assume so, but if this turns out like it seems he probably stands to lose a fair bit of money. He has been in the news several times in Norway. Among other things he said that he has a trading bot which had earned him about $130 000, which he never withdrew. I assume that was on MtGox. He also used only MtGox to buy or sell coins to even out his own bitcoin trading business, so he probably had some money there for that as well.

When it comes to dealing directly with him he is probably one of the most trustworthy persons on this forum. His problem is that he too easily assumes that other people behave the same way.