ElectricMucus
Legendary
 Offline
Activity: 1666
Merit: 1057
Marketing manager - GO MP
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January 26, 2014, 03:36:27 PM |
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Mtgox is out of business already. It only takes some time for the brain to realize.
This has to do with plasticity and physiology of the human brain.
Some people have faster neurons though.
As long as people wire them cash there in business, period. You make me laugh, you think someone wires them money? seriously? Did you? Gneeheehee My posts are usually slightly humorous. And no, I didn't wire them money but there is always somebody who does. And if they are insolvent and still operating, again their business model has changed, now if you don't get that.... |
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The grue lurks in the darkest places of the earth. Its favorite diet is adventurers, but its insatiable appetite is tempered by its fear of light. No grue has ever been seen by the light of day, and few have survived its fearsome jaws to tell the tale.
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fonzie (OP)
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January 26, 2014, 03:50:52 PM |
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Only 14000 BTC left on Gox. http://trading.i286.org/ |
"To know death, Otto, you have to fuck life in the gallbladder" www.hsbc.com - The world´s local bank "These FUDsters are insane egomaniacs that just want cheap BTC" - oblivi |
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eiskalt
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January 26, 2014, 04:59:49 PM |
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My posts are usually slightly humorous.
And no, I didn't wire them money but there is always somebody who does. And if they are insolvent and still operating, again their business model has changed, now if you don't get that....
I get it as Kungfu-Zius said: "If there is a bitcoin exchange going down and noone is there who can see it going down, is it then really going down?" Still some people have eyes to see. Thx |
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fonzie (OP)
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January 29, 2014, 02:27:50 AM |
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It really looks like things are getting out of order now. Please vote if you haven´t done already.
That said, the number of broken TX just DOUBLED in the last hour!!!!!!! It was down to around 800, but has now jumped to 1700! Things just got very VERY serious.
75% of my coin worth is currently stuck in limbo, and even their manual rebroadcast of my coins failed AGAIN early this morning.
get out the pitchforks, boys... we're about to go to war.
EDIT: thegoxreport.com is broken, so the true count is no longer on Dizko's charts there. You have to use skanner.net to see the current broken TX!
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"To know death, Otto, you have to fuck life in the gallbladder" www.hsbc.com - The world´s local bank "These FUDsters are insane egomaniacs that just want cheap BTC" - oblivi |
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Cluster2k
Legendary
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Activity: 1692
Merit: 1018
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January 29, 2014, 02:55:10 AM |
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I'm not sure how people can continue to use an exchange that takes months to process withdraws. Logically, one would think that everyone who is aware of MtGox's situation has already lined up to get their money out. Near 100% of MtGox's money should be heading towards the exit. If everyone can't withdraw in a timely manner (a few days) MtGox clearly doesn't have the money and should immediately stop trading as it's insolvent. It's not a fractional reserve bank and shouldn't act like one.
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disclaimer201
Legendary
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Activity: 1526
Merit: 1001
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January 29, 2014, 03:15:23 AM |
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Can't wait til they are gone. Suckers only kept this game running on 60000 bitcoinica bitcoins withheld and thousands of dollars cash. Let them roast in hell.
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Nagle
Legendary
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Activity: 1204
Merit: 1000
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January 29, 2014, 08:03:13 AM |
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Gox will hang on, stalling on withdrawals, until somebody does something that forces them to pay up. A lawsuit, intervention by the Japan Financial Services Agency, or something like that. As long as the marks don't apply serious pressure, Gox can continue screwing them.
I'm amazed that after six months, they haven't been sued out of existence. I suspect that some of the bigger customers did have lawyers contact Gox, and those customers were paid off.
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virtualfaqs
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January 29, 2014, 09:16:38 AM |
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Guess who's going to get all the media attention when we hit ATH? Mtgox  and bet most won't even talk about the withdrawal problems. |
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ScrapOfCat
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January 29, 2014, 09:31:38 AM
Last edit: February 03, 2014, 06:23:34 AM by ScrapOfCat |
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"Will I Ever See MTGox go out of business, Daddy?"
"Never, Sweetheart. Never In a Million Years."
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Squander electricity on piffle: 1CLQajy22Z2n9YjZurFfPaKApcqsQa8BzK
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segeln
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January 29, 2014, 12:41:04 PM |
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KC82
Newbie
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Activity: 23
Merit: 0
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January 29, 2014, 03:46:43 PM |
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So if Gox goes bye-bye, what will happen to services like Coinbase and Bitpay that require Mt Gox to function? I imagine they would scramble to find a viable alternative, but I'm not sure of all the regulations they need to comply with. Would they even have the option to use some other exchange? Would it have to be a US based exchange? Is there any exchange that would be able to support Coinbase, Bitpay, and the like?
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BreathOfZen
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January 29, 2014, 04:04:14 PM |
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So if Gox goes bye-bye, what will happen to services like Coinbase and Bitpay that require Mt Gox to function? I imagine they would scramble to find a viable alternative, but I'm not sure of all the regulations they need to comply with. Would they even have the option to use some other exchange? Would it have to be a US based exchange? Is there any exchange that would be able to support Coinbase, Bitpay, and the like?
I'm pretty sure they go through another exchange already like Bitstamp, not MtGox. |
Aoeui Artifacts
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disclaimer201
Legendary
Offline
Activity: 1526
Merit: 1001
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January 29, 2014, 04:34:53 PM |
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Gox will hang on, stalling on withdrawals, until somebody does something that forces them to pay up. A lawsuit, intervention by the Japan Financial Services Agency, or something like that. As long as the marks don't apply serious pressure, Gox can continue screwing them.
I'm amazed that after six months, they haven't been sued out of existence. I suspect that some of the bigger customers did have lawyers contact Gox, and those customers were paid off.
There is actually a chance Gox will be sued for holding back coins and funds from the court-appointed liquidators of bitcoinica. |
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fonzie (OP)
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January 29, 2014, 05:37:55 PM |
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The sum of all BTC stuck in failed TX has risen to 27687 BTC  Imagine what will happen if only 30% of those get sold on Bitstamp.... And if you like in the service discussion forum, there are a lot of people who want to do exactly that. These broken TX are a main reason why the price didn´t went down further. You should really check these links: http://thegoxreport.com/If the number goes down significantly you should watch the market as a lot of these coins are going to be sold on Bitstamp/BTC-e |
"To know death, Otto, you have to fuck life in the gallbladder" www.hsbc.com - The world´s local bank "These FUDsters are insane egomaniacs that just want cheap BTC" - oblivi |
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BreathOfZen
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January 29, 2014, 05:43:24 PM |
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The sum of all BTC stuck in failed TX has risen to 27687 BTC Imagine what will happen if only 30% of those get sold on Bitstamp.... And if you like in the service discussion forum, there are a lot of people who want to do exactly that. These broken TX are a main reason why the price didn´t went down further. You should really check these links: http://thegoxreport.com/If the number goes down significantly you should watch the market as a lot of these coins are going to be sold on Bitstamp/BTC-e One of the more obvious theories on why they are holding back coins: everyone was getting worried about the price difference between exchanges rising, so they have been selling customer btc on their market to knock the price back down again, as well as to fund their remaining few weeks of existence.(Edited out the last part, because they wouldn't sell coins to get cash from their market participants, they would just take it without asking.) |
Aoeui Artifacts
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fonzie (OP)
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January 29, 2014, 05:48:00 PM |
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This is of course also a reasonable explanation. Any probably one of many processes that are sketchy over there right now.
We have only seen the tip of the iceberg.
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"To know death, Otto, you have to fuck life in the gallbladder" www.hsbc.com - The world´s local bank "These FUDsters are insane egomaniacs that just want cheap BTC" - oblivi |
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fonzie (OP)
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January 29, 2014, 07:09:32 PM |
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"To know death, Otto, you have to fuck life in the gallbladder" www.hsbc.com - The world´s local bank "These FUDsters are insane egomaniacs that just want cheap BTC" - oblivi |
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yatsey87
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January 29, 2014, 07:31:04 PM |
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I don't know how long it'll last but any longer is too long. How they have any business left is beyond me.
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indiemax
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January 29, 2014, 09:47:18 PM |
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My god,anyone daft enough to have Bitcoin in Gox at such a unknown time regarding China and with all the history of getting out with fiat ,deserves to get stung
it's clear they are insolvent
will they last to the 31st or shut up shop before?
not long to wait either way
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TooDumbForBitcoin
Legendary
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Activity: 1638
Merit: 1001
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February 02, 2014, 04:55:32 PM |
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I'm amazed that after six months, they haven't been sued out of existence. Your journey from contrarian to curmudgeon to whistleblower to giantkiller won't be complete until you yourself deposit a couple grand in Mt. Gox, do a couple trades, try to withdraw, then take the steps you've been urging for six months. What is stopping you? |
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