so its coinlabs fault that gox is insolvent...greeeat..this gets better everday...... gooooosh!
wow, I got 2 withdrawals out of them this week. all insolvent companies should learn this trick...
Insolvency doesn't imply that they have NO funds. So... not really a trick.
Perhaps, but my point was really that you can't have any idea what their status is. Just random people rambling at this point.
What we know is that they've lost $10 millions (and BTC 1400) recently, we also know pretty well how much they earn, what we don't know is their costs - but we can do some estimations. If WhatTheyEarn - $10millions - Costs < 0 - then they are insolvent.
If you bothered to read the claim you would also note that they were returned over 7 million. On top of their earnings since april (8 million, as of last month), we know they are fine. Stop spreading FUD. Thanks.
How a simple equation is FUD? This is a simple fact and you are completely missing your facts - because the return of 7 millions is accounted in the equation, and just because you seem to be a bit slow with this math thing here it is: 12 - 7 = 5. Go read your sources again and come back for a real discussion.
Insolvency implies they cannot cover the deposits on hand. Given projected earnings and the current price of Bitcoin they are [probably] fine. We don't know all the numbers, so anything is just a guess.
edit: point being, it's not entirely about the math. FUD = an estimate/approximation of something with negative connotations, a claim backed by half evidence but purported as truth. which is what you came to the table with.
Which exactly claim you have on mind? That they lost $10 millions? That is 5 in Dwolla and 5 for Coinalabs - both pretty well documented. Or do you mean the equation?
No, your numbers are right. The claim to insolvency was what I was questioning. We know how much has been taken, but we don't know how much they had on reserves (in Bitcoins, Dollars, etc...); for this reason I am unsure we can make a claim either way.
TGB did an article about it but then pulled it for that exact reason:
http://www.reddit.com/r/Bitcoin/comments/1lc3is/pulled_article_from_tgb_5m_seizures_provide/One might counterclaim the lack of evidence with the delays in withdrawals. While that is a reasonable claim if you look at the legal hysterics surrounding gox it is not unreasonable to think they are having a very difficult time finding a new bank (after having the Wells and Dwolla accounts shut down). Their Japanese bank is clearly not cut out for the withdrawal volume (which is not a far stretch to think, most banks these days still use tech running on assembly language) and as such things are delayed. Given the huge price spike in Bitcoins and their majority (but waning) market share they are most likely in the green, but it's just too hard to tell.
edit: i just read your original post. you said if, i didn't see that. my bad
