MtGox withdrawal delays [Gathering]

[itsunderstood]

Looking at the volumes you can see

1: It''s a lot of bottishness, microtrades and positioning, but even a few hundred coins sold kicks the price down 10-20 bucks so it is very fragile right now, in terms of fishing, they have fishies on the hook, but the line could snap anytime.

2: When they jerk the wheel to the side, either higher or lower, you can see from the 1-day pattern that these are bots trying to game something that's losing steam but they can "blow" steam up its ass now that we are in the kill zone, in terms of Goxcoinprice.

...So I wouldn't be surprised to see either a large upswing (to honeypot and keep the Goxers happy with inside buys), or a methodical and slow 10 dollars stairstep crushing process, so that they can exploit each tier on the way down.  Like I said, cutting the power to their servers would be the most direct route.  However since lawyers are such a useless cadre when it coms to defending people, you can be sure that 100 lawyers will get fees if you cut the power to Gox servers, whereas none of those lawyers will do shit about the situation, so, yeah.  Good luck Goxxxies I like the guy's idea above or on the previous page where he has a computer shop and will work with you.  Very nice post dude, thanks on behalf of those who are trying to help.

[itsunderstood]

http://investmentwatchblog.com/news-california-assembly-passes-law-making-cryptocurrency-legal-tender/

^^^ Now some California lawyers will put down the divorcees and fathers and families and medical injuries they live off of, and take up some decent cases, where cryptocoin got stolen.

Come on lawyers, now that crypto is legal tender and California will be split up like a shot buck, it's time fo you to give a damn.  HAHA.

edit

AH but note, it's not about humans in California, just corporations

An act to amend Section 107 of the Corporations Code, relating to business associations.


LEGISLATIVE COUNSEL'S DIGEST

AB 129, as amended, Dickinson. Lawful money: alternative currency.

Existing law prohibits a corporation, flexible purpose corporation, association, or individual from issuing or putting in circulation, as money, anything but the lawful money of the United States.

This bill would instead prohibit a person from issuing or putting in circulation, as money, anything but the lawful money of the United States.

This bill would specify that those provisions do provision does not prohibit a corporation, flexible purpose corporation, association, or individual person from issuing or using an alternative currency that is redeemable for lawful money of the United States or that has value based on the value of lawful money of the United States. This bill would also specify that a corporation, flexible purpose corporation, association, or individual shall not be prohibit a person from being required to accept alternative currency.


Bill Text
The people of the State of California do enact as follows:

SECTION 1.
 Section 107 of the Corporations Code is amended to read:

107.
 A corporation, flexible purpose corporation, association, or individual person shall not issue or put in circulation, as money, anything but the lawful money of the United States. Nothing in this section shall prohibit the issuance and use of alternative currency that is redeemable for lawful money of the United States or that has value based on the value of lawful money of the United States but a corporation, flexible purpose corporation, association, or individual person shall not be required to accept alternative currency.

Goxcoins not mentioned.  HAHA, WTF is a "flexible purpose corporation"??  Fucking lawyers ya know??

"alternative currency that is redeemable for lawful money of the United States or that has value based on the value of lawful money of the United States"

[zyk]

http://www.reddit.com/r/Bitcoin/comments/1yju24/psa_if_mtgox_is_really_insolvent_remember_that/

If MtGox is really insolvent remember that Peter Vessenes still has $5.3 million of it's customers money.

I've spent some time today reading most of the lawsuits that this lovely Peter Vessenes (chairman of the Bitcoin Foundation) is involved with (CoinLab, Alydian, BitInvestment).
It makes HashFast or Butterfly Labs look like child's play.
http://news.cnet.com/8301-1023_3-57603194-93/bitcoin-exchange-mt-gox-sues-for-return-of-$5m-from-coinlab/

(just because i was downvoted to hell at reddit and it's a missing feature here )

The bitcoinfoundation exists courtesy of Mt. Gox to steal and has stolen their BTC from the community via this outlet.

The proof is in the pudding when Mt. Gox gets unglued as their shady records of insider fraud comes to light.

When the tide goes out a lot of people will be found to have been swimming naked for a long long time already !

[rpietila]

The thing that delayed my recognition for so long, is the fact that these guys have so much money already - why would they need to steal more? Any credible ideas?

[itsunderstood]

The thing that delayed my recognition for so long, is the fact that these guys have so much money already - why would they need to steal more? Any credible ideas?

Since you have shown your cred in this thread, and you are small potatoes to them, I will explain:

Greed, is like a compelling hand at the backs of those who are thusly compelled.  To you, a millionaire or whatever, you wonder as does a good person, "Who could be so greedy?"

Think of a tick that can not only engorge itself to the size of a raqueball, but rather, the size of a small moon.  One which can effect the entire tide of a world not yet arrived.  Then, you would understand that tick of all time.  It must grow.  It must befriend all dogs, it must suck until time itself, ends.  Thank you for your participation in this thread, you have the floor dude.

[donk4u]

The thing that delayed my recognition for so long, is the fact that these guys have so much money already - why would they need to steal more? Any credible ideas?

see full tilt  poker ultimate bet . Everyone who played poker always asked the same question all the principles that caused them to implode are happening to mt gox to a T

Greed

Same gluttony that  makes Karpeles the fat fuck he is irl is driving him financially

[FrictionlessCoin]

The thing that delayed my recognition for so long, is the fact that these guys have so much money already - why would they need to steal more? Any credible ideas?

If you are shorting the market,  then it does not matter how much money you collected in fees.

Let's say they started shorting back in 2011,  can you imagine how much underwater they would be with BTC at $500.

Selling customers BTC that you don't already own can be a recipe for bankruptcy.

[TheKoziTwo]

The thing that delayed my recognition for so long, is the fact that these guys have so much money already - why would they need to steal more? Any credible ideas?

Yes, they are not stealing it.

[zyk]

The thing that delayed my recognition for so long, is the fact that these guys have so much money already - why would they need to steal more? Any credible ideas?

They only have this money cause they are at the head of the chain -letter...its exactly like pirate@40

when the chain breaks the last ones suck it up......so even you and me who got out a bit earlier are profiteering

on the backs of those who get nothing. And so is bitcoin rightfully in itself a ponzi as well, untill it has real world use besides

defrauding people at the centralised unregulated exchanges.

None of those BTC riches was rightfully gained through saving -nvestment cause all profits only came from new money flocking into it.

Now the tide goes out and everybody sees that his wealth in btc is long squandered away.....Mt Gox as a market leader reflects

the real Marketcap. the early adopters want to get away with.

[FrictionlessCoin]

The thing that delayed my recognition for so long, is the fact that these guys have so much money already - why would they need to steal more? Any credible ideas?

Yes, they are not stealing it.

They sold BTC that they did not have. 

Simple explanation.   

It explains why the crashed the market in April 2013.

It explains why for the longest time BTC has a higher USD premium that other exchanges.

Explain why right now BTC is 80% lower than other exchanges... this is a rigged up way to cover their shorts.

Unfortunately, they could be more short BTC than anyone can imagine. 

Let's say you were in 2012 and had an exchange for some obscure crypto-currency like Bitcoin.  What if you thought that Bitcoin could never possibly be worth more than $20.  So when people come to your exchange, you sell them BTC that you don't have.   Then one day in 2013, it rises from $10 to $240.... you panic... turn off all trading and crash the market.    But the dip was too quick to cover your shorts,  so for the longest time you try to cover... until you can't take it anymore and shut down all withdrawals.


Mt.Gox is short and are covering their shorts as we speak.

[itsunderstood]

The thing that delayed my recognition for so long, is the fact that these guys have so much money already - why would they need to steal more? Any credible ideas?

They only have this money cause they are at the head of the chain -letter...its exactly like pirate@40

when the chain breaks the last ones suck it up......so even you and me who got out a bit earlier are profiteering

on the backs of those who get nothing. And so is bitcoin rightfully in itself a ponzi as well, untill it has real world use besides

defrauding people at the centralised unregulated exchanges.

None of those BTC riches was rightfully gained through saving -nvestment cause all profits only came from new money flocking into it.

Now the tide goes out and everybody sees that his wealth in btc is long squandered away.....Mt Gox as a market leader reflects

the real Marketcap. the early adopters want to get away with.

A bit preachy and you can see people's angles and typing style --I know the top dogs recognize me as well [DERP].

So anyway, yeah fellas, let's just see what happens next.  If you organized all the MAGIC players, they could re-surrect, they literally have thought this through, let's see if they have good magic.

[itsunderstood]

[...]

Selling customers BTC that you don't already own can be a recipe for bankruptcy.

Also, if your coke dealer leaves his bag of coke behind and then remebers half way home, and then comes back, you had better have behaved yourself while he was gone, knowmsayin?

[TheKoziTwo]

The thing that delayed my recognition for so long, is the fact that these guys have so much money already - why would they need to steal more? Any credible ideas?

Yes, they are not stealing it.

They sold BTC that they did not have. 

Simple explanation.   

It explains why the crashed the market in April 2013.

Assuming they sold and caused the april 2013 crash, why could they not simply buy the bitcoins back at $60-100 with massive profit? It makes no sense that they would sell customers bitcoin and not buy them back when they had a great opportunity to do so. But why would they take the risk of selling customer funds in the first place? This doesn't make sense. None of it.

It explains why for the longest time BTC has a higher USD premium that other exchanges.

And how does them selling all their bitcoin explain that exactly? The premium was higher because withdraws are delayed, that's all. People paid more for BTC to withdraw and sell on other exchanges. And then the argument of them having lack of USD falls short too, if they (according to you) sold at the very top and even caused the crash, they should be loaded with USD and withdraws should not be delayed due to insolvency.

Explain why right now BTC is 80% lower than other exchanges... this is a rigged up way to cover their shorts.

Market psychology, people are panicking due to FUD. I'll admit it's weird that people are willing to sell their coins in low $100s and double digits, but other than that, we don't know why people sell.

Unfortunately, they could be more short BTC than anyone can imagine. 

Let's say you were in 2012 and had an exchange for some obscure crypto-currency like Bitcoin.  What if you thought that Bitcoin could never possibly be worth more than $20.  So when people come to your exchange, you sell them BTC that you don't have.   Then one day in 2013, it rises from $10 to $240.... you panic... turn off all trading and crash the market.    But the dip was too quick to cover your shorts,  so for the longest time you try to cover... until you can't take it anymore and shut down all withdrawals.

Mt.Gox is short and are covering their shorts as we speak.

This is a wild conspiracy theory, and that's all this is. No indication that mtgox has stolen our funds, but with a tinfoil hat on, I guess anything is possible.

[FrictionlessCoin]

The thing that delayed my recognition for so long, is the fact that these guys have so much money already - why would they need to steal more? Any credible ideas?

Yes, they are not stealing it.

They sold BTC that they did not have. 

Simple explanation.   

It explains why the crashed the market in April 2013.

Assuming they sold and caused the april 2013 crash, why could they not simply buy the bitcoins back at $60-100 with massive profit? It makes no sense that they would sell customers bitcoin and not buy them back when they had a great opportunity to do so. But why would they take the risk of selling customer funds in the first place? This doesn't make sense. None of it.

It explains why for the longest time BTC has a higher USD premium that other exchanges.

And how does them selling all their bitcoin explain that exactly? The premium was higher because withdraws are delayed, that's all. People paid more for BTC to withdraw and sell on other exchanges. And then the argument of them having lack of USD falls short too, if they (according to you) sold at the very top and even caused the crash, they should be loaded with USD and withdraws should not be delayed due to insolvency.

Explain why right now BTC is 80% lower than other exchanges... this is a rigged up way to cover their shorts.

Market psychology, people are panicking due to FUD. I'll admit it's weird that people are willing to sell their coins in low $100s and double digits, but other than that, we don't know why people sell.

Unfortunately, they could be more short BTC than anyone can imagine. 

Let's say you were in 2012 and had an exchange for some obscure crypto-currency like Bitcoin.  What if you thought that Bitcoin could never possibly be worth more than $20.  So when people come to your exchange, you sell them BTC that you don't have.   Then one day in 2013, it rises from $10 to $240.... you panic... turn off all trading and crash the market.    But the dip was too quick to cover your shorts,  so for the longest time you try to cover... until you can't take it anymore and shut down all withdrawals.

Mt.Gox is short and are covering their shorts as we speak.

This is a wild conspiracy theory, and that's all this is. No indication that mtgox has stolen our funds, but with a tinfoil hat on, I guess anything is possible.

Do you understand what going short means and how to cover the short position?

Do you know how to spot a short squeeze in progress?


I keep talking about going short BTC and it seems most folks here don't have a clue what I'm talking about!


Sigh!

[TheKoziTwo]

The thing that delayed my recognition for so long, is the fact that these guys have so much money already - why would they need to steal more? Any credible ideas?

Yes, they are not stealing it.

They sold BTC that they did not have.  

Simple explanation.  

It explains why the crashed the market in April 2013.

Assuming they sold and caused the april 2013 crash, why could they not simply buy the bitcoins back at $60-100 with massive profit? It makes no sense that they would sell customers bitcoin and not buy them back when they had a great opportunity to do so. But why would they take the risk of selling customer funds in the first place? This doesn't make sense. None of it.

It explains why for the longest time BTC has a higher USD premium that other exchanges.

And how does them selling all their bitcoin explain that exactly? The premium was higher because withdraws are delayed, that's all. People paid more for BTC to withdraw and sell on other exchanges. And then the argument of them having lack of USD falls short too, if they (according to you) sold at the very top and even caused the crash, they should be loaded with USD and withdraws should not be delayed due to insolvency.

Explain why right now BTC is 80% lower than other exchanges... this is a rigged up way to cover their shorts.

Market psychology, people are panicking due to FUD. I'll admit it's weird that people are willing to sell their coins in low $100s and double digits, but other than that, we don't know why people sell.

Unfortunately, they could be more short BTC than anyone can imagine.  

Let's say you were in 2012 and had an exchange for some obscure crypto-currency like Bitcoin.  What if you thought that Bitcoin could never possibly be worth more than $20.  So when people come to your exchange, you sell them BTC that you don't have.   Then one day in 2013, it rises from $10 to $240.... you panic... turn off all trading and crash the market.    But the dip was too quick to cover your shorts,  so for the longest time you try to cover... until you can't take it anymore and shut down all withdrawals.

Mt.Gox is short and are covering their shorts as we speak.

This is a wild conspiracy theory, and that's all this is. No indication that mtgox has stolen our funds, but with a tinfoil hat on, I guess anything is possible.

Do you understand what going short means and how to cover the short position?

Do you know how to spot a short squeeze in progress?


I keep talking about going short BTC and it seems most folks here don't have a clue what I'm talking about!


Sigh!

So they made a short when the price was $266, yet didn't bother to cover the short when the price crashed all the way down to $50. Sounds rational.

I wired another 50k to mtgox today, posts like these makes me more confident that I'm doing the right thing.

[donk4u]

the shills in here are delightfull mt goxs actions are at this point frightfull.  

[Asinine]

The thing that delayed my recognition for so long, is the fact that these guys have so much money already - why would they need to steal more? Any credible ideas?

I can't say it applies in this case.  But, while most people seek power to do or get something else, some people just seek power.  In that case, what they can or should actually do with it is secondary.

While currency and assets aren't really power, they do serve as a proxy for it.

[itsunderstood]

[...]

I keep talking about going short BTC and it seems most folks here don't have a clue what I'm talking about!


Sigh!

No, I hear you as do others.  As do the other others who want to ride the Goxbull and see where it shits.

To squeeze shorts is to squeeze (pressure) those who are net sellers of your item.  Your point is totally made and is obvious to all who can see.  Let us see if white magics can be accomplished.

[invisiblefriend]

its not that we "want" to ride anything out

we are being forced too    

many many put our trust in them for a long time as well !         a lot have money --- some lives savings unfortunately Im sure ---

we r all hoping n holding onto anything that can get us even one step closer to our coins n / or money


all the best



peace

[itsunderstood]

its not that we "want" to ride anything out

we are being forced too    

many many put our trust in them for a long time as well !         a lot have money --- some lives savings unfortunately Im sure ---

we r all hoping n holding onto anything that can get us even one step closer to our coins n / or money


all the best



peace

Word, my coinbrother.

So, as I said, I wouldn't be upset if all of you in the GoxArk got saved, but be sure to hunt down and pelt the thieves with whatever you feel appropriate to pelt them with, if they do not respect the ship ye all travel in.

May you win, and may evil shitbag coinstealers DIE.