Bitcoin Forum
September 18, 2019, 10:16:28 AM *
News: Latest Bitcoin Core release: 0.18.1 [Torrent]
 
   Home   Help Search Login Register More  
Pages: 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 [All]
  Print  
Author Topic: Mt.Gox SCAM? $38million disappeared. Large sums affected.  (Read 37705 times)
daserpent1
Sr. Member
****
Offline Offline

Activity: 440
Merit: 250



View Profile
February 06, 2014, 04:11:41 AM
Last edit: February 07, 2014, 10:21:49 AM by daserpent1
#1

Apparently, $38million of clients' money has disappeared from mtgox. Was mtgox hacked? Or did they steal the money to keep themselves afloat?

Source :: http://falkvinge.net/2014/02/04/major-bitcoin-exchange-not-executing-withdrawals-now-owes-clients-38m-in-disappeared-money/

Mtgox support has agreed to this and say this affected only the larger transactions (ofc it did).

Mtgox support reply :: https://support.mtgox.com/entries/26128504-Update-Statement-Regarding-BTC-Withdrawal-Delays

Mtgox better come clean about this soon or the BTC price is gonna keep doing down. Fell $100 in just the past 3 hours.

New Press Release from Mtgox (dated 7th Feb 2014) ::  https://www.mtgox.com/press_release_20140207.html

Mtgox has officially stopped all withdrawals. This is not looking good. So we got all our money stuck at a japanese exchange now  Cry
1568801788
Hero Member
*
Offline Offline

Posts: 1568801788

View Profile Personal Message (Offline)

Ignore
1568801788
Reply with quote  #2

1568801788
Report to moderator
Advertised sites are not endorsed by the Bitcoin Forum. They may be unsafe, untrustworthy, or illegal in your jurisdiction. Advertise here.
1568801788
Hero Member
*
Offline Offline

Posts: 1568801788

View Profile Personal Message (Offline)

Ignore
1568801788
Reply with quote  #2

1568801788
Report to moderator
knircky
Member
**
Offline Offline

Activity: 99
Merit: 10


View Profile
February 06, 2014, 04:23:40 AM
#2

is this the reason for the drop in price?

Weird?

keithers
Legendary
*
Offline Offline

Activity: 1386
Merit: 1001


This is the land of wolves now & you're not a wolf


View Profile
February 06, 2014, 04:30:21 AM
#3

I said this in another thread, but I have a bad feeling that the people at Gox have been using user's funds for themselves and only processing withdraws when there are sufficient new deposits. It was working before because such huge sums of money kept getting deposited, but its starting to pile up. Seems like it could be exactly what Ultimate Bet was doing with online poker player funds. I could be completely wrong, but something is definitely up. Claiming the site was hacked would be an easy out at first..
hellscabane
Legendary
*
Offline Offline

Activity: 896
Merit: 1000



View Profile
February 06, 2014, 04:37:12 AM
#4

Apparently, $38million of clients' money has disappeared from mtgox. Was mtgox hacked? Or did they steal the money to keep themselves afloat?

Source :: http://falkvinge.net/2014/02/04/major-bitcoin-exchange-not-executing-withdrawals-now-owes-clients-38m-in-disappeared-money/

Mtgox support has agreed to this and say this affected only the larger transactions (ofc it did).

Mtgox support reply :: https://support.mtgox.com/entries/26128504-Update-Statement-Regarding-BTC-Withdrawal-Delays

Mtgox better come clean about this soon or the BTC price is gonna keep doing down. Fell $100 in just the past 3 hours.

I'll admit, Mt. Gox crashing isn't all that bad. At least there won't be a ridiculous spread between it and the other more liquid options. Besides, Mt. Gox needed to get smacked down in my opinion.

As for the people affected by this bull crap though. I feel bad for that; no one should have their hard-earned money toyed around with like that. I'm sure we've seen this play out last year when USD withdrawals went to a crawl. Either there is a ton of incompetence afloat or a horrendous amount of scheming about. And those are two choices that just plain sucks...
RandyMagnum
Sr. Member
****
Offline Offline

Activity: 664
Merit: 250



View Profile
February 06, 2014, 04:51:30 AM
#5

Quote
It seems very likely to me that for some reason Mark K is not able to work on his codebase anymore, and isn't able to resolve bugs in a timely manner, leaving his support staff to try and clean up the mess by making horrible hacks like "throw away and retry later". The question in my mind then becomes - where is Mark and what is he doing?  - Mike Hearn

https://bitcoinfoundation.org/forum/index.php?/topic/700-mtgox-insolvency/
BittBurger
Hero Member
*****
Offline Offline

Activity: 882
Merit: 1000


View Profile
February 06, 2014, 05:05:16 AM
#6

I said this in another thread, but I have a bad feeling that the people at Gox have been using user's funds for themselves and only processing withdraws when there are sufficient new deposits. It was working before because such huge sums of money kept getting deposited, but its starting to pile up. Seems like it could be exactly what Ultimate Bet was doing with online poker player funds. I could be completely wrong, but something is definitely up. Claiming the site was hacked would be an easy out at first..
Soon after they had their accounts seized and were seriously short on money, a friend of mine simply lost all his coins out of his online wallet there.  No explanation, no refund, nothing.  Just gone.  About $2,000 worth at the time (25 BTC).

Bitcoin's true purpose defined in Satoshi's message on the Genesis Block:
"The Times 03/Jan/2009 Chancellor on brink of second bailout for banks"
View it on the Blockchain | Genesis Block Newspaper Copies
gollum
Sr. Member
****
Offline Offline

Activity: 434
Merit: 250


In Hashrate We Trust!


View Profile
February 06, 2014, 05:17:27 AM
#7

Seems like MtGox is the "Lehman Brothers" of the bitcoin world.
My analysis points out that BTC/USD might crash down to $100

seriouscoin
Hero Member
*****
Offline Offline

Activity: 658
Merit: 500


View Profile
February 06, 2014, 05:19:26 AM
#8

Seems like MtGox is the "Lehman Brothers" of the bitcoin world.
My analysis points out that BTC/USD might crash down to $100



What software is this? care to share?

gollum
Sr. Member
****
Offline Offline

Activity: 434
Merit: 250


In Hashrate We Trust!


View Profile
February 06, 2014, 05:20:41 AM
#9

Seems like MtGox is the "Lehman Brothers" of the bitcoin world.
My analysis points out that BTC/USD might crash down to $100



What software is this? care to share?


Here you are:
https://www.tradingview.com/e/?symbol=MTGOX%3ABTCUSD#
CompNsci
Sr. Member
****
Offline Offline

Activity: 328
Merit: 253


View Profile
February 06, 2014, 05:29:41 AM
#10

This is curious. Just posted a number of withdrawals of various amounts. The first two smaller ones (<=1.0 BTC) went through quickly and immediately appeared on the blockchain.

Subsequent withdrawals, whether larger or smaller, have failed to appear, despite Mt. Gox producing a transaction hash and emailing it to me.

The long term history of their behavior has been honest, but it appears there is something seriously wrong with the their BTC withdrawal code.

Comment #27 on the article at falvinge.net (http://falkvinge.net/2014/02/04/major-bitcoin-exchange-not-executing-withdrawals-now-owes-clients-38m-in-disappeared-money/) seems to point to a race condition in their withdrawal code, creating transactions which attempt to double spend the same outputs. This can apparently be verified on Mt. Gox's api for their transactions.

This would point toward another technical glitch, rather than fraud.
homerzhu
Full Member
***
Offline Offline

Activity: 160
Merit: 100



View Profile
February 06, 2014, 05:30:21 AM
#11

is it true?
bryant.coleman
Legendary
*
Offline Offline

Activity: 2212
Merit: 1036


LiveCoin - is a modern stock exchange


View Profile
February 06, 2014, 05:32:48 AM
#12

BTC vs USD exchange rates are currently on a free-fall..... So something serious is going on...

█████████▄           ▄█
▀██▄         ██
▀██▄    ▄▄ ██
▀███ ███ ██
█████████▄        ▀▀ ██
▀██▄      ▄▄ ██
▄█████████ ███ ██
▄██▀          ▀▀ ██
████
█▀            ▄▄ ██
▄██ ███ ██
▄██▀   ▀▀ ██
▄██▀        ██
███████████▀          ▀█




▄▄█
█████
█████
█████
█████
█████

█████

█████

█████


▄▄█
█████
█████
█████
█████
█████
█████
█████

█████

█████

█████
▄▄█
█████
█████
█████
█████
█████
█████
█████
█████
█████

█████

█████

█████
█▄           ▄█████████
██         ▄██▀
██ ▄▄    ▄██▀
██ ███ ███▀
██ ▀▀        ▄█████████
██ ▄▄      ▄██▀
██ ███ █████████▄
██ ▀▀          ▀██▄
██ ▄▄            ▀█████
██ ███ ██▄
██ ▀▀   ▀██▄
██        ▀██▄
█▀          ▀███████████
Holliday
Legendary
*
Offline Offline

Activity: 1120
Merit: 1006



View Profile
February 06, 2014, 05:34:18 AM
#13

How long is MtGox going to be a scab on the face of Bitcoin?

Stop using MtGox people. That was obvious in 2011...

If you aren't the sole controller of your private keys, you don't have any bitcoins.
CryptoVortex
Newbie
*
Offline Offline

Activity: 34
Merit: 0


View Profile
February 06, 2014, 05:39:45 AM
#14

is this the reason for the drop in price?

Weird?
It does seem to be the reason for the drop in price.  Whether the price should drop is not so clear to me, though.  Previously, when Gox only blocked fiat withdrawals, it was obvious that the USD/BTC price should be higher there than on other exchanges.  The bitcoin there were worth just as much, but a "dollar" on Gox was worth less than a real dollar.  However, if both the denominator and the numerator are going to zero, then what is a fair exchange rate between "Gox dollars" and "Gox bitcoin"?

Personally, if I had not abandoned Gox a year ago after they embezzled from me, I would be buying bitcoin there.  Although neither fiat nor bitcoin withdrawals are working as they should now, it's much still much more likely that you'll be able to get your bitcoin out of there than that they'll pay you in fiat.  If anything, I would think that this news should be causing a spike in the price at Gox.  Expect the volatility to keep rising there if they don't resolve this soon.

If this does turn out to be just a massive technical glitch, then the main effect will be to slightly reduce faith in bitcoin generally and thus drive the price down at all exchanges.  On the other hand, it will certainly drive even more people away from Gox, which can only be good for the bitcoin community in the long run, IMHO.
gog1
Hero Member
*****
Offline Offline

Activity: 756
Merit: 500


View Profile
February 06, 2014, 05:45:04 AM
#15

BTC vs USD exchange rates are currently on a free-fall..... So something serious is going on...

gox had been acting as a hard cap on prices on all other exchanges, I suppose when people realize that it is not possible to withdraw btc from gox, they'll completely ignore their trades.
daserpent1
Sr. Member
****
Offline Offline

Activity: 440
Merit: 250



View Profile
February 06, 2014, 05:52:00 AM
#16

I just tried to withdraw my bitcoins and they haven't even shown up in the blockchain yet  Undecided Been more than an hour now.

Mtgox can't stop withdrawals as and when they wish. It is our coins! We decide when to withdraw.  Angry Angry
ymer
Sr. Member
****
Offline Offline

Activity: 308
Merit: 250



View Profile
February 06, 2014, 05:56:28 AM
#17

I just tried to withdraw my bitcoins and they haven't even shown up in the blockchain yet  Undecided Been more than an hour now.

Mtgox can't stop withdrawals as and when they wish. It is our coins! We decide when to withdraw.  Angry Angry

I'm afraid that your coins have already been spent  Embarrassed
JakeGold
Member
**
Offline Offline

Activity: 96
Merit: 10



View Profile
February 06, 2014, 05:58:24 AM
#18

Mtgox can't stop withdrawals as and when they wish. It is our coins! We decide when to withdraw.  Angry Angry

Gox: Teaching people the hard way.
daserpent1
Sr. Member
****
Offline Offline

Activity: 440
Merit: 250



View Profile
February 06, 2014, 05:59:06 AM
#19

I just tried to withdraw my bitcoins and they haven't even shown up in the blockchain yet  Undecided Been more than an hour now.

Mtgox can't stop withdrawals as and when they wish. It is our coins! We decide when to withdraw.  Angry Angry

I'm afraid that your coins have already been spent  Embarrassed

Well, all i can do is wait and wait and wait i guess
bbit
Legendary
*
Offline Offline

Activity: 1330
Merit: 1000


Bitcoin


View Profile
February 06, 2014, 06:02:33 AM
#20

I just tried to withdraw my bitcoins and they haven't even shown up in the blockchain yet  Undecided Been more than an hour now.

Mtgox can't stop withdrawals as and when they wish. It is our coins! We decide when to withdraw.  Angry Angry

I'm afraid that your coins have already been spent  Embarrassed

Well, all i can do is wait and wait and wait i guess
I've been saying this for months insolvency means taking everyones coins with them......all your coins are mine...

anyone who needs to blow a load because you lost a ton of money check out my sig below  Grin


           █████████████████     ████████
          █████████████████     ████████
         █████████████████     ████████
        █████████████████     ████████
       ████████              ████████
      ████████              ████████
     ████████     ███████  ████████     ████████
    ████████     █████████████████     ████████
   ████████     █████████████████     ████████
  ████████     █████████████████     ████████
 ████████     █████████████████     ████████
████████     ████████  ███████     ████████
            ████████              ████████
           ████████              ████████
          ████████     █████████████████
         ████████     █████████████████
        ████████     █████████████████
       ████████     █████████████████
▄▄
██
██
██
██
██
██
██
██
██
██     
██
██
▬▬ THE LARGEST & MOST TRUSTED ▬▬
      BITCOIN SPORTSBOOK     
   ▄▄
██
██
██
██
██
██
██
██
██
██     
██
██
             ▄▄▄▄▀▀▀▀▄
     ▄▄▄▄▀▀▀▀        ▀▄▄▄▄           
▄▀▀▀▀                 █   ▀▀▀▀▀▀▀▄▄
█                    ▀▄          █
 █   ▀▌     ██▄        █          █               
 ▀▄        ▐████▄       █        █
  █        ███████▄     ▀▄       █
   █      ▐████▄█████████████████████▄
   ▀▄     ███████▀                  ▀██
    █      ▀█████    ▄▄        ▄▄    ██
     █       ▀███   ████      ████   ██
     ▀▄        ██    ▀▀        ▀▀    ██
      █        ██        ▄██▄        ██
       █       ██        ▀██▀        ██
       ▀▄      ██    ▄▄        ▄▄    ██
        █      ██   ████      ████   ██
         █▄▄▄▄▀██    ▀▀        ▀▀    ██
               ██▄                  ▄██
                ▀████████████████████▀




  CASINO  ●  DICE  ●  POKER   
▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀
   24 hour Customer Support   

▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀
Crypto Currency!
Newbie
*
Offline Offline

Activity: 47
Merit: 0


View Profile WWW
February 06, 2014, 06:06:59 AM
#21

This is very confusing, rate is keep dropping Sad
Kava_Kauboi
Newbie
*
Offline Offline

Activity: 5
Merit: 0


View Profile
February 06, 2014, 06:13:44 AM
#22

Gox reinstated my withdrawal capabilities a few hours ago after asking for AML verification paperwork that i gave them years ago. Blamed it on bitinstant arrest. Price crashed within minutes of my account being reinstated. I tried to withdraw 1 btc as a test. Several hours later and still not on blockchain. Fiat and btc now stuck. Hope Gox fixes this if it is fixable.
BTCisthefuture
Sr. Member
****
Offline Offline

Activity: 364
Merit: 250


View Profile
February 06, 2014, 06:16:22 AM
#23

Hopefully gox can fade away without having a huge impact on the value of bitcoin.  Gox is simply too problematic and it's long overdue for poor servicing bitcoin companies to fade away.  Of course if gox improves the way they service customers then I'm fine if the stick around,  not happy about how many people still use gox though when it's clear gox is ran and managed pretty horribly.

Hourly bitcoin faucet with a gambling twist !  http://freebitco.in/?r=106463
Holliday
Legendary
*
Offline Offline

Activity: 1120
Merit: 1006



View Profile
February 06, 2014, 06:17:15 AM
#24

Hope Gox fixes this if it is fixable.

They've got their entire IT department on it!


If you aren't the sole controller of your private keys, you don't have any bitcoins.
BTCisthefuture
Sr. Member
****
Offline Offline

Activity: 364
Merit: 250


View Profile
February 06, 2014, 06:21:50 AM
#25

Hope Gox fixes this if it is fixable.

They've got their entire IT department on it!



Hahah! 

Hourly bitcoin faucet with a gambling twist !  http://freebitco.in/?r=106463
Jeezy911
Sr. Member
****
Offline Offline

Activity: 266
Merit: 250


View Profile
February 06, 2014, 06:26:13 AM
#26

Everything is looking so scammish lately, even projects that seem so legit. Cryptsy, scharmbeck, now gox. Seriously this kind of shit will kill crypto.

cypherdoc
Legendary
*
Offline Offline

Activity: 1764
Merit: 1002



View Profile
February 06, 2014, 06:30:52 AM
#27

just got off IRC with Karpeles.

it's a technical glitch, not insolvency.  they're still working to fix it.
Nathonas
Sr. Member
****
Offline Offline

Activity: 280
Merit: 250

Knowledge is Power


View Profile WWW
February 06, 2014, 06:34:57 AM
Last edit: February 06, 2014, 06:53:43 AM by Nathonas
#28

Everything is looking so scammish lately, even projects that seem so legit. Cryptsy, scharmbeck, now gox. Seriously this kind of shit will kill crypto.

That's a little bit pessimistic. Most alt coins are pretty much scam land, I'll give you that but... Crypsty hasn't scammed people to my knowledge, just a lot of problems with that website (remember when you could withdraw 10 btc or whatever that you didn't even have?). Gox never scammed people, their website just has some technical problems sometimes.

All we have to decide is what to do with the time that is given us.
bitdude
Sr. Member
****
Offline Offline

Activity: 266
Merit: 250


View Profile
February 06, 2014, 06:43:09 AM
#29

I am not sure this is a good time to "try" to withdraw. You are likely to enter an undefined state with your coins. I will wait.
cypherdoc
Legendary
*
Offline Offline

Activity: 1764
Merit: 1002



View Profile
February 06, 2014, 06:43:37 AM
#30

Everything is looking so scammish lately, even projects that seem so legit. Cryptsy, scharmbeck, now gox. Seriously this kind of shit will kill crypto.

That's a little bit pessimistic. Most alt coins are pretty much scam land already. Crypsty hasn't scammed people to my knowledge, just a lot of problems with that website (remember when you could withdraw 10 btc or whatever that you didn't even have?). Gox never scammed people, their website just has some technical problems sometimes.

yes, Karpeles has never stolen from anyone.

in fact, he's covered ppl's losses from his own funds when he was responsible for destroyed coins from his coding errors.  he's always fixed the problems and security has been impeccable since 2011.

he'll get this one fixed too.
Jeezy911
Sr. Member
****
Offline Offline

Activity: 266
Merit: 250


View Profile
February 06, 2014, 06:50:05 AM
#31

Banks are the enemy right? Imagine if you walked into a bank and they said "sorry no withdraws our system is down until who knows when". And then it started happening at a lot of banks, and certain banks would just vanish after you deposited your money would you still have faith in the banking system? Its a big deal.

RandyMagnum
Sr. Member
****
Offline Offline

Activity: 664
Merit: 250



View Profile
February 06, 2014, 07:02:48 AM
#32

just got off IRC with Karpeles.

it's a technical glitch, not insolvency.  they're still working to fix it.

Shame you didn't snatch a screencap, but I'm inclined to believe this is the most likely case in any event.
papamoi
Sr. Member
****
Offline Offline

Activity: 378
Merit: 250


View Profile
February 06, 2014, 08:13:40 AM
#33

Everything is looking so scammish lately, even projects that seem so legit. Cryptsy, scharmbeck, now gox. Seriously this kind of shit will kill crypto.

That's a little bit pessimistic. Most alt coins are pretty much scam land already. Crypsty hasn't scammed people to my knowledge, just a lot of problems with that website (remember when you could withdraw 10 btc or whatever that you didn't even have?). Gox never scammed people, their website just has some technical problems sometimes.

yes, Karpeles has never stolen from anyone.

in fact, he's covered ppl's losses from his own funds when he was responsible for destroyed coins from his coding errors.  he's always fixed the problems and security has been impeccable since 2011.

he'll get this one fixed too.

HI cypherdoc,

How about the fiat withdrawal he never paid?

we are waiting our money since 4 months now and despite promising us to pay quickly if we pay 5% ,we did accept this and even with this rackettering ,no trace of our money

so can you help on this doc?
Xendrios
Full Member
***
Offline Offline

Activity: 212
Merit: 100



View Profile WWW
February 06, 2014, 08:38:41 AM
#34

A company unable to pay up when it's asked to is insolvent.

MtGox has all thesame symptoms of a bankrun. And we all know the banks run a 'fractional reserve', this means a run on the bank is an dangerous thing.

MtGox in theory shouldn't be a 'fractional reserve' system, but it clearly is.

First it lacked fiat, so it started delaying fiat payments, blaming it on the banks.
Then it started to lack even fiat, so it started selling bitcoins of users to get fiat. (Why do you think price has been stable for a while now even though there's been lots of good news)
Now it lacks bitcoins so it delays bitcoin transfers and blames a technical glitch.

One has to be really blind to not see this unfolding for over half a year already.
I got out my bitcoins as soon as my transfers took a month instead of a day.

Now everyone left is holding the bag...

The numbers in the accounts are all fake, fictional numbers.

It's sad that our brilliant bitcoin has soo many criminals around...

Sell or buy items at bitcoin247sales.com - flatrate fees - cheapest around!
Post feedback at https://bitcointalk.org/index.php?topic=328169.0
ArticMine
Legendary
*
Offline Offline

Activity: 2268
Merit: 1041


Monero Core Team


View Profile
February 06, 2014, 08:47:43 AM
#35

Quote
DISCLOSURE
The author is personally affected by MtGox behavior, having a six-figure dollar amount in such non-executed withdrawals. He considered Gox to be a safer repository for bitcoin than his own probably-hackable computer. That judgment may not have been accurate.

Let me guess he is running Microsoft Windows on his computer. When will people learn that installing GNU/Linux on one's computer and using such computer to store one's bitcoin is a far safer option than storing bitcoin on an exchange.

Concerned that blockchain bloat will lead to centralization? Storing less than 4 GB of data once required the budget of a superpower and a warehouse full of punched cards. https://upload.wikimedia.org/wikipedia/commons/8/87/IBM_card_storage.NARA.jpg https://en.wikipedia.org/wiki/Punched_card
Lucky Cris
Sr. Member
****
Offline Offline

Activity: 280
Merit: 250


View Profile
February 06, 2014, 08:49:25 AM
#36

It's sad that our brilliant bitcoin has soo many criminals around...

Unfortunately it is.

phrackage
Newbie
*
Offline Offline

Activity: 12
Merit: 0


View Profile
February 06, 2014, 08:52:11 AM
#37

Banks are the enemy right? Imagine if you walked into a bank and they said "sorry no withdraws our system is down until who knows when". And then it started happening at a lot of banks, and certain banks would just vanish after you deposited your money would you still have faith in the banking system? Its a big deal.

This has happened many times in history actually.
dharmapuriharithaa
Member
**
Offline Offline

Activity: 70
Merit: 10


View Profile
February 06, 2014, 08:52:57 AM
#38

38 million is huge money. I think govt will get involved soon restrict bitcoin.

daserpent1
Sr. Member
****
Offline Offline

Activity: 440
Merit: 250



View Profile
February 06, 2014, 08:55:56 AM
#39

2 police cases have been registered against mtgox already by some big btc holders. I dont think this is going to end well.
donate2me
Newbie
*
Offline Offline

Activity: 14
Merit: 0


View Profile
February 06, 2014, 09:22:40 AM
#40

This is a classic PONZI scheme.  Don't listen to these idiots on this forum pumping the shit out of bitcoin.  Google "pump and dump". Realistically you are talking about cyber money. You may as well kiss your money goodbye.  Why the f- would the winklevoss guys come out and say they own a grip of bitcoin.... So the rest of you morons buy buy buy and drive the price to 1200.  I feel bad for all of you that put your savings and hard earned money into Monopoly money.  It will collapse soon.  And guess who won't have a bitcoin in their wallet ---- you guesses it... The winklevoss twins, laughing all the way to the bank with your money.  Any website that used to be for trading magic cards is definently a scam!
Its About Sharing
Legendary
*
Offline Offline

Activity: 1414
Merit: 1000


Antifragile


View Profile
February 06, 2014, 09:29:22 AM
#41

Seems like MtGox is the "Lehman Brothers" of the bitcoin world.
My analysis points out that BTC/USD might crash down to $100



Your startpoint breaks the prior uptrend.
So many ways to draw a chart.
Essentially, it is a toss up, no pun.

BTC = Black Swan.
BTC = Antifragile - "Some things benefit from shocks; they thrive and grow when exposed to volatility, randomness, disorder, and stressors and love adventure, risk, and uncertainty. Robust is not the opposite of fragile.
Sonny
Hero Member
*****
Offline Offline

Activity: 868
Merit: 1000


View Profile
February 06, 2014, 09:39:08 AM
#42

This is a classic PONZI scheme.  Don't listen to these idiots on this forum pumping the shit out of bitcoin.  Google "pump and dump". Realistically you are talking about cyber money. You may as well kiss your money goodbye.  Why the f- would the winklevoss guys come out and say they own a grip of bitcoin.... So the rest of you morons buy buy buy and drive the price to 1200.  I feel bad for all of you that put your savings and hard earned money into Monopoly money.  It will collapse soon.  And guess who won't have a bitcoin in their wallet ---- you guesses it... The winklevoss twins, laughing all the way to the bank with your money.  Any website that used to be for trading magic cards is definently a scam!

Hey, donate2me, why all of your posts (6 up till now) are all saying bitcoin is ponzi?
Seems like it is the only thing you want to do with this account...
bryant.coleman
Legendary
*
Offline Offline

Activity: 2212
Merit: 1036


LiveCoin - is a modern stock exchange


View Profile
February 06, 2014, 09:49:51 AM
#43

There seems to be some sort of good news... BTC is back up to $875 from $820-825 levels.

█████████▄           ▄█
▀██▄         ██
▀██▄    ▄▄ ██
▀███ ███ ██
█████████▄        ▀▀ ██
▀██▄      ▄▄ ██
▄█████████ ███ ██
▄██▀          ▀▀ ██
████
█▀            ▄▄ ██
▄██ ███ ██
▄██▀   ▀▀ ██
▄██▀        ██
███████████▀          ▀█




▄▄█
█████
█████
█████
█████
█████

█████

█████

█████


▄▄█
█████
█████
█████
█████
█████
█████
█████

█████

█████

█████
▄▄█
█████
█████
█████
█████
█████
█████
█████
█████
█████

█████

█████

█████
█▄           ▄█████████
██         ▄██▀
██ ▄▄    ▄██▀
██ ███ ███▀
██ ▀▀        ▄█████████
██ ▄▄      ▄██▀
██ ███ █████████▄
██ ▀▀          ▀██▄
██ ▄▄            ▀█████
██ ███ ██▄
██ ▀▀   ▀██▄
██        ▀██▄
█▀          ▀███████████
Sonny
Hero Member
*****
Offline Offline

Activity: 868
Merit: 1000


View Profile
February 06, 2014, 09:54:21 AM
#44

I don't really understand why mtgox price go down significantly...

People knew their USD withdrawal would get stuck, but they still want to sell all their bitcoin on mtgox?
FandangledGizmo
Legendary
*
Offline Offline

Activity: 1138
Merit: 1001


View Profile
February 06, 2014, 10:09:31 AM
#45

Seems like MtGox is the "Lehman Brothers" of the bitcoin world.
My analysis points out that BTC/USD might crash down to $100



Is this your same genius 'analysis' that helped you decide Bitcoin was a Ponzi scheme & that we'd be better off with a government issued asset backed currency.

The market price of each certificate will be the function of the underlying asset and the trustworthyness of the issuer.

So, all the downsides of both currency and barter, and the upsides of neither.  Like I said, look into Ripple.
Yes why not cap the limit at 21 million, pretend we got intrinsic value and reward early adaptors for selling to greater fools in the ponzi scheme.
After all it's safer to pay 1000$ for 1/21 millionth of a ponzi, then to pay 0$ for a blank sheet of paper that could be used to sign a contract for gold, stocks or real estate.


My eyesight is not great, but I can see you a mile away...
Honeypot
Sr. Member
****
Offline Offline

Activity: 420
Merit: 250


View Profile
February 06, 2014, 10:26:22 AM
#46

People doing the 'analysis' should remember the environment and public attention to crypto is vastly different than previous cycles. Whether this means a greater drop (regulations and possible 'illegalization') or higher 'stable price' for bitcoin is up in the air - but I am optimistic about the prices and believe it will remain stable above at least 500 long term until the next big push.

Although crashing to 100 would give a great chance to gobble up some cheap coins Smiley
bryant.coleman
Legendary
*
Offline Offline

Activity: 2212
Merit: 1036


LiveCoin - is a modern stock exchange


View Profile
February 06, 2014, 10:53:38 AM
#47

I don't really understand why mtgox price go down significantly...

People knew their USD withdrawal would get stuck, but they still want to sell all their bitcoin on mtgox?

Lack of demand. New buyers are too scared to buy BTC.

█████████▄           ▄█
▀██▄         ██
▀██▄    ▄▄ ██
▀███ ███ ██
█████████▄        ▀▀ ██
▀██▄      ▄▄ ██
▄█████████ ███ ██
▄██▀          ▀▀ ██
████
█▀            ▄▄ ██
▄██ ███ ██
▄██▀   ▀▀ ██
▄██▀        ██
███████████▀          ▀█




▄▄█
█████
█████
█████
█████
█████

█████

█████

█████


▄▄█
█████
█████
█████
█████
█████
█████
█████

█████

█████

█████
▄▄█
█████
█████
█████
█████
█████
█████
█████
█████
█████

█████

█████

█████
█▄           ▄█████████
██         ▄██▀
██ ▄▄    ▄██▀
██ ███ ███▀
██ ▀▀        ▄█████████
██ ▄▄      ▄██▀
██ ███ █████████▄
██ ▀▀          ▀██▄
██ ▄▄            ▀█████
██ ███ ██▄
██ ▀▀   ▀██▄
██        ▀██▄
█▀          ▀███████████
Sonny
Hero Member
*****
Offline Offline

Activity: 868
Merit: 1000


View Profile
February 06, 2014, 11:00:03 AM
#48

I don't really understand why mtgox price go down significantly...

People knew their USD withdrawal would get stuck, but they still want to sell all their bitcoin on mtgox?

Lack of demand. New buyers are too scared to buy BTC.

But, why is there demand in the past months, when price was always $100+ higher in mtgox?
igorr
Sr. Member
****
Offline Offline

Activity: 406
Merit: 250


View Profile
February 06, 2014, 11:04:23 AM
#49

I don't really understand why mtgox price go down significantly...

People knew their USD withdrawal would get stuck, but they still want to sell all their bitcoin on mtgox?

Check this thread, everything will be clear.

https://bitcointalk.org/index.php?topic=420005.0 and this  https://bitcointalk.org/index.php?topic=400001.0

mining hardware manufacturers, have no more interest to invest in Bitcoin, and here is the end !!!


MtGox has lost credibility, or at least exchange office does not follow the price at MtGox,
because in November and December of 2013 years, the price MtGox exchange office was allowed to rise without real money. (at push-button up) (great deception)
Now as we can see, MtGox is in big trouble about withdraw money, It is so logical and clearly.

Cлaвьcя, Oтeчecтвo нaшe cвoбoднoe,
Бpaтcкиx нapoдoв coюз вeкoвoй,
Пpeдкaми дaннaя мyдpocть нapoднaя!
Cлaвьcя, cтpaнa! Mы гopдимcя тoбoй!
Phinnaeus Gage
Legendary
*
Offline Offline

Activity: 1750
Merit: 1094


Bitcoin: An Idea Worth Spending


View Profile WWW
February 06, 2014, 11:08:37 AM
#50

Good news! Mt Gox just processed $2,069,500 of the $38M they hadn't processed earlier: 41,390 (BADTX) x 50 (decrease in exchange rate since last cal. for the $38M fig.) = $2,069,500.

IAO Launchpad Coming Soon
Abdussamad
Legendary
*
Offline Offline

Activity: 2226
Merit: 1183



View Profile WWW
February 06, 2014, 11:14:20 AM
#51

It's like 2013 all over again...

murraypaul
Sr. Member
****
Offline Offline

Activity: 476
Merit: 250


View Profile
February 06, 2014, 11:25:02 AM
#52

Mtgox can't stop withdrawals as and when they wish. It is our coins! We decide when to withdraw.  Angry Angry

Unfortunately the reality is that they aren't your coins, because you don't control the wallet they are stored in.
You gave Bitcoins to MtGox, they gave you an IOU in return.
You were trusting them to honor that IOU, and therefore valued it the same as the Bitcoins you transferred to them.
That may have been a mistake.

BTC: 16TgAGdiTSsTWSsBDphebNJCFr1NT78xFW
SRC: scefi1XMhq91n3oF5FrE3HqddVvvCZP9KB
cypherdoc
Legendary
*
Offline Offline

Activity: 1764
Merit: 1002



View Profile
February 06, 2014, 11:40:30 AM
#53

I don't really understand why mtgox price go down significantly...

People knew their USD withdrawal would get stuck, but they still want to sell all their bitcoin on mtgox?

Only to BUY THEM BACK.
benjyz
Full Member
***
Offline Offline

Activity: 140
Merit: 100


View Profile
February 06, 2014, 11:49:41 AM
#54

I think exchanges should post collateral / make their balances partly public through HD of other means. It's probably not that hard to do. Every exchange with closed books would then suffer from less confidence. This would be much more efficient than any local regulation.

I have no idea about their intentions. But it is very easy to see that technically they are not up to the ask. Just a couple of examples:

* use of SQL. the use of standard databases does not make much sense. SQL lets you do row selections on large tables. an exchange is not just a random large table. if even you hand optimize SQL you don't really know what you're doing.

* use of HTTP. GET/POST'ing orders is pretty inefficient. why would use want to use HTTP? there is this thing called the internet where we have TCP/IP. HTTP does not allow for the complex interaction between nodes that is needed (heartbeating as a basic example).

* the API. terrible design.

noted, the same applies for all major exchanges at the moment, but the others seem to have at least a rough idea what they are doing in terms of software engineering. it looks like MtGox doesn't even have proper test procedures. not even speaking about complex race conditions and latency issues. I haven't studied it, but I'm sure most exchanges can be attacked/gamed, not speaking of outright hacks. I would assume exchanges are a high value targets for blackhats. Wasn't there also the claim that MtGox withholds 30-50M$ from some past issue?
Xenoph0bia
Hero Member
*****
Offline Offline

Activity: 980
Merit: 501



View Profile
February 06, 2014, 11:55:34 AM
#55

I don't really understand why mtgox price go down significantly...

People knew their USD withdrawal would get stuck, but they still want to sell all their bitcoin on mtgox?

Lack of demand. New buyers are too scared to buy BTC.

But, why is there demand in the past months, when price was always $100+ higher in mtgox?



It was possible to withdraw BTC out of Mt.Gox in the past
smoothie
Legendary
*
Offline Offline

Activity: 2128
Merit: 1018


LEALANA Monero Physical Silver Coins


View Profile
February 06, 2014, 11:57:58 AM
#56

I don't really understand why mtgox price go down significantly...

People knew their USD withdrawal would get stuck, but they still want to sell all their bitcoin on mtgox?

Only to BUY THEM BACK.

Lol yup it is an interesting situation. Can't get fiat out nor bitcoin. Luckily for me I have $0.01 on there.  Grin

███████████████████████████████████████

            ,╓p@@███████@╗╖,           
        ,p████████████████████N,       
      d█████████████████████████b     
    d██████████████████████████████   
  ,█████████████████████████████████, 
 ,█████  ╙████████████████████╨  █████y
 ██████    `████████████████`    ██████
║██████       ███████████`      ███████
███████         ╩██████         ███████
███████    ▐▄     ██╩     a▌    ███████
╢██████    ▐▓█▄          ▄█▓▌    ███████
 ██████    ▐▓▓▓▓▌,     ▄█▓▓▓▌    ██████─
           ▐▓▓▓▓▓▓█,,▄▓▓▓▓▓▓▌          
           ▐▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▌          
    ▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓─  
     ▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓╩    
        ▀▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▀       
           ▀▀▓▓▓▓▓▓▓▓▓▓▓▓▀▀`          
                                    
███████████████████████████████████████

. ★☆ WWW.LEALANA.COM        My PGP fingerprint is A764D833.                  History of Monero development Visualization ★☆ .
LEALANA  PHYSICAL MONERO COINS 999 FINE SILVER.
 
DubFX
Sr. Member
****
Offline Offline

Activity: 434
Merit: 250


View Profile
February 06, 2014, 12:00:28 PM
#57

You really think bitcoin could crash to 100$? Or just rumors and panic again?
Don't use mtgox thought!!!!
jubalix
Legendary
*
Offline Offline

Activity: 2044
Merit: 1003


View Profile WWW
February 06, 2014, 12:51:06 PM
#58

I am almost sure Gox is fractional reserve in BTC and FIAT.

I feel something has to give here, and once this is sorted out, it will be the next impetus to an evaluation even like what happened after SR1 went down.

So cheap coins then explosion in price.

You just can't have problems sending BTC, thats the whole point of the protocol.

Unless you don't have BTC to send.

Admitted Practicing Lawyer::BTC/Crypto Specialist. B.Engineering/B.Laws

https://www.binance.com/?ref=10062065
jubalix
Legendary
*
Offline Offline

Activity: 2044
Merit: 1003


View Profile WWW
February 06, 2014, 12:53:51 PM
#59

I think exchanges should post collateral / make their balances partly public through HD of other means. It's probably not that hard to do. Every exchange with closed books would then suffer from less confidence. This would be much more efficient than any local regulation.

I have no idea about their intentions. But it is very easy to see that technically they are not up to the ask. Just a couple of examples:

* use of SQL. the use of standard databases does not make much sense. SQL lets you do row selections on large tables. an exchange is not just a random large table. if even you hand optimize SQL you don't really know what you're doing.

* use of HTTP. GET/POST'ing orders is pretty inefficient. why would use want to use HTTP? there is this thing called the internet where we have TCP/IP. HTTP does not allow for the complex interaction between nodes that is needed (heartbeating as a basic example).

* the API. terrible design.

noted, the same applies for all major exchanges at the moment, but the others seem to have at least a rough idea what they are doing in terms of software engineering. it looks like MtGox doesn't even have proper test procedures. not even speaking about complex race conditions and latency issues. I haven't studied it, but I'm sure most exchanges can be attacked/gamed, not speaking of outright hacks. I would assume exchanges are a high value targets for blackhats. Wasn't there also the claim that MtGox withholds 30-50M$ from some past issue?


this is a very good idea, there is not reason why an exchange could not publish all BTC received and thats verifiable. This would attract a lot more confidence to that exchange and thus volume.

then the next side would be how much fiat they hold but thats easier to lie about. The question is how much BTC/FIAT is off the market but on the exchange ready to go.

Admitted Practicing Lawyer::BTC/Crypto Specialist. B.Engineering/B.Laws

https://www.binance.com/?ref=10062065
Come-from-Beyond
Legendary
*
Offline Offline

Activity: 2128
Merit: 1009

Newbie


View Profile
February 06, 2014, 12:57:28 PM
#60

is this the reason for the drop in price?

Yes - Ethereum.
murraypaul
Sr. Member
****
Offline Offline

Activity: 476
Merit: 250


View Profile
February 06, 2014, 01:23:57 PM
#61

this is a very good idea, there is not reason why an exchange could not publish all BTC received and thats verifiable. This would attract a lot more confidence to that exchange and thus volume.


Is it really verifiable?
You have no way of knowing whether transfers out of a wallet are customer withdrawals, transfers to another exchange wallet, or siphoning off of funds.

BTC: 16TgAGdiTSsTWSsBDphebNJCFr1NT78xFW
SRC: scefi1XMhq91n3oF5FrE3HqddVvvCZP9KB
CryptoCurrencyInc.com
Sr. Member
****
Offline Offline

Activity: 476
Merit: 250



View Profile
February 06, 2014, 01:31:07 PM
#62

Panic sell happening?

                                                                               
                 
                                                       ╓▄▌██P                   
                                                 ╔▄▌███▀███▌                   
                                           ▄▄▌██▀▀╚  ╓██╩██                     
                                     ▄▄███▀▀╙      ▄██  ▓█                     
                               ▄▌███▀▀+          ▄█▀   ▐█                       
                        ,▄▌███▀▀              ▓█▀     █▄                       
                  ,▄▌███▀▀                  ,██▀      █▌                       
               '█████▌▄▄,                 ╓██╩       ██                         
                  ▀██▌▐▀▀▀█████▌▌▄▄╓    ▄██        ▄█                         
                     ▀██▄        ╚▀▀▀████          ▐█═                         
                        ▀██▄        ▓█▀██          █▀                           
                           ▀██▄  ,██▀   █        ██                           
                              ▀███Z     ██       ██                             
                                ▐██     ▐█      ▄█                             
                              ,,╓╓█▓▄▌   █▌    ▐█U                             
                        ▄▓▓▓▓▓▓▓▓▓███   ▀█    █▌                               
                          ▀█▓▓▓▓▓████▀█▌  █▌  ██                               
                            ▀███████▌  ▀█▀█ ██                                 
                              ▀█████     ███▓█                                 
                                ▐███      ▀██                                 
                                            ▀                             

superresistant
Legendary
*
Offline Offline

Activity: 2030
Merit: 1095



View Profile
February 06, 2014, 01:54:04 PM
#63

is this the reason for the drop in price?
Yes - Ethereum.

Yeah, Ethereum-scam-team cashed out their 36 millions from the IPO.

They are now having a good time, really good time.
VforVictory
Sr. Member
****
Offline Offline

Activity: 280
Merit: 250

V for Victory or Rather JustV8


View Profile
February 06, 2014, 01:58:50 PM
#64

And Price drops...like it always does when something happens to MtGox.
SnakeEater
Member
**
Offline Offline

Activity: 90
Merit: 10


View Profile
February 06, 2014, 02:23:46 PM
Last edit: February 06, 2014, 02:45:15 PM by SnakeEater
#65

It is an experiment how a Bank Run or self regulated virtual financial world occurs on BTC world.

Nothing can make BTC more safe than improving the core technology itself.

The cost of lawyers and politicians participations is the fundamental cost of trust that collapse the FIAT world where monetary system cannot be trusted unless the terms "legal tender" which means the trust is none except by brute force of legal tender status.

There are few concepts which deter monopoly centralize mining power and introduce trust on the merchant reputations payment address.  MT GOX is the most reputable exchange and under attack.  After the event is over, BTC will hit new high and possibly rise 10 folds against FIAT where BTC can resolve problems unseen in FIAT world.
igorr
Sr. Member
****
Offline Offline

Activity: 406
Merit: 250


View Profile
February 06, 2014, 02:30:23 PM
#66

BTC quickly losing popularity.

View Screen Capture

View Screen Capture

Cлaвьcя, Oтeчecтвo нaшe cвoбoднoe,
Бpaтcкиx нapoдoв coюз вeкoвoй,
Пpeдкaми дaннaя мyдpocть нapoднaя!
Cлaвьcя, cтpaнa! Mы гopдимcя тoбoй!
bennybong
Hero Member
*****
Offline Offline

Activity: 682
Merit: 500



View Profile
February 06, 2014, 02:41:41 PM
#67

I've got 17btc that I withdrew 5 days ago. They have still not appeared in my wallet...
SnakeEater
Member
**
Offline Offline

Activity: 90
Merit: 10


View Profile
February 06, 2014, 02:44:06 PM
#68

Amazing that people prefer to withdraw BTC instead of USD.
benjyz
Full Member
***
Offline Offline

Activity: 140
Merit: 100


View Profile
February 06, 2014, 02:54:02 PM
#69

Is it really verifiable?
You have no way of knowing whether transfers out of a wallet are customer withdrawals, transfers to another exchange wallet, or siphoning off of funds.

you need a scheme for that. problem is, as was noted, the fiat part. one could go even as far as have a completely transparent system, so that fiat movements can be inferred  (orderbook is public, so you have the total balance).
bitcoin.newsfeed
Sr. Member
****
Offline Offline

Activity: 378
Merit: 250


View Profile
February 06, 2014, 04:00:33 PM
#70

That Gox and Karpeles are total fail for BTC community, shame on them ! Every single massive crash in bitcoin history was because of incompetence of Mt.Gox ... every single one. One year ago after april crash i remember that I was reading statements, that they are working on some new trading engine ... bull.shit.  Like always from their side. I am glad that I left back then. If they declare bankruptcy, fasten your seat belts ...  Roll Eyes

... Question Everything, Believe Nothing ...
Holliday
Legendary
*
Offline Offline

Activity: 1120
Merit: 1006



View Profile
February 06, 2014, 05:06:00 PM
#71

Every single massive crash in bitcoin history was because of incompetence of Mt.Gox ... every single one.

No, the last one was because of China.

If you aren't the sole controller of your private keys, you don't have any bitcoins.
Holliday
Legendary
*
Offline Offline

Activity: 1120
Merit: 1006



View Profile
February 06, 2014, 05:06:31 PM
#72

BTC Gox quickly losing popularity.

FTFY.

If you aren't the sole controller of your private keys, you don't have any bitcoins.
Tzakato
Newbie
*
Offline Offline

Activity: 17
Merit: 0


View Profile
February 06, 2014, 05:27:19 PM
#73

So what exchange do you guys recommend for exchange into euros? According to bitcoinaverage.com MtGox holds 50% of the BTC-EUR market volume... Better use bitcoin.de or kraken? I would use btc-e, but you have to withdraw at least 500 and the fees are minimum 100! Somebody have a recommendation?
Holliday
Legendary
*
Offline Offline

Activity: 1120
Merit: 1006



View Profile
February 06, 2014, 05:30:36 PM
#74

So what exchange do you guys recommend for exchange into euros? According to bitcoinaverage.com MtGox holds 50% of the BTC-EUR market volume... Better use bitcoin.de or kraken? I would use btc-e, but you have to withdraw at least 500 and the fees are minimum 100! Somebody have a recommendation?

I would only use an exchange as a last resort if there is no possibility of a local p2p trade.

LocalBitcoins.com

If you aren't the sole controller of your private keys, you don't have any bitcoins.
vabtc
Jr. Member
*
Offline Offline

Activity: 55
Merit: 4


View Profile
February 06, 2014, 06:10:00 PM
#75

BTC Gox quickly losing popularity.

FTFY.

This.

I had been slowly withdrawing BTCs from Gox since 2012 and had my first issue with the very last withdrawl in early January. They got me my coins eventually but it was a bit scary and they were unresponsive until i woke up one morning with a deposit in my local wallet. They had the best trading platform at the beginning, and had good yubikey/2FA security. I hope they get it resolved, I truly don't believe they are/were fractional reserving, that would be a very, very dumb thing to do. I also hope they get their issues with the US Govt sorted out and USD withdrawals get back on track. As you can see, I'm full of hopes but keeping a skeptical eye on this.
igorr
Sr. Member
****
Offline Offline

Activity: 406
Merit: 250


View Profile
February 06, 2014, 06:12:50 PM
#76

The next coming Bitstamp scam, then BTC-e scam and game is over.

Cлaвьcя, Oтeчecтвo нaшe cвoбoднoe,
Бpaтcкиx нapoдoв coюз вeкoвoй,
Пpeдкaми дaннaя мyдpocть нapoднaя!
Cлaвьcя, cтpaнa! Mы гopдимcя тoбoй!
boumalo
Legendary
*
Offline Offline

Activity: 1358
Merit: 1005


View Profile
February 06, 2014, 06:19:51 PM
#77

I've got 17btc that I withdrew 5 days ago. They have still not appeared in my wallet...

I just got verified on Mtgox, but with all the stories I hear and all the negativity about the website I don't think I will buy/sell bitcoins there

Can you keep us update on when you receive your BTC?

kwest
Sr. Member
****
Offline Offline

Activity: 477
Merit: 250


View Profile
February 06, 2014, 06:29:31 PM
#78

I've got 17btc that I withdrew 5 days ago. They have still not appeared in my wallet...

I just got verified on Mtgox, but with all the stories I hear and all the negativity about the website I don't think I will buy/sell bitcoins there

Can you keep us update on when you receive your BTC?

Definitely stay far away from Mt.Gox. I only recommend Bitstamp... for lower volume transactions Kraken is OK too.
RandyMagnum
Sr. Member
****
Offline Offline

Activity: 664
Merit: 250



View Profile
February 06, 2014, 06:41:21 PM
#79

http://www.commodityblog.com/mtgox-withdrawal-problems-solution-in-sight/

keithers
Legendary
*
Offline Offline

Activity: 1386
Merit: 1001


This is the land of wolves now & you're not a wolf


View Profile
February 06, 2014, 06:49:49 PM
#80

Amazing that people prefer to withdraw BTC instead of USD.

No, it's not amazing because the BTC withdraw should theoretically show up in minutes, whereas the USD withdraw takes days, and in cases of Gox it takes months...
Come-from-Beyond
Legendary
*
Offline Offline

Activity: 2128
Merit: 1009

Newbie


View Profile
February 06, 2014, 07:27:10 PM
#81

MtGox does not have "issues" sending the money. They just don't have the money. End of story.

dserrano5
Legendary
*
Offline Offline

Activity: 1904
Merit: 1010



View Profile
February 06, 2014, 09:17:47 PM
#82

I would only use an exchange as a last resort if there is no possibility of a local p2p trade.

LocalBitcoins.com

Agreed but the spread in Spain (or Madrid at least) is awful. People are greedy.
Bobsurplus
Legendary
*
Offline Offline

Activity: 1008
Merit: 1000


Making money since I was in the womb! @emc2whale


View Profile
February 06, 2014, 09:20:17 PM
#83

MtGox does not have "issues" sending the money. They just don't have the money. End of story.



This one really cracked me up. I still cant understand why people are using Gox, just cut your losses and move on.
smoothie
Legendary
*
Offline Offline

Activity: 2128
Merit: 1018


LEALANA Monero Physical Silver Coins


View Profile
February 06, 2014, 10:11:53 PM
#84

MtGox does not have "issues" sending the money. They just don't have the money. End of story.



ROFL!  Grin Grin Grin

███████████████████████████████████████

            ,╓p@@███████@╗╖,           
        ,p████████████████████N,       
      d█████████████████████████b     
    d██████████████████████████████   
  ,█████████████████████████████████, 
 ,█████  ╙████████████████████╨  █████y
 ██████    `████████████████`    ██████
║██████       ███████████`      ███████
███████         ╩██████         ███████
███████    ▐▄     ██╩     a▌    ███████
╢██████    ▐▓█▄          ▄█▓▌    ███████
 ██████    ▐▓▓▓▓▌,     ▄█▓▓▓▌    ██████─
           ▐▓▓▓▓▓▓█,,▄▓▓▓▓▓▓▌          
           ▐▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▌          
    ▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓─  
     ▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓╩    
        ▀▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▀       
           ▀▀▓▓▓▓▓▓▓▓▓▓▓▓▀▀`          
                                    
███████████████████████████████████████

. ★☆ WWW.LEALANA.COM        My PGP fingerprint is A764D833.                  History of Monero development Visualization ★☆ .
LEALANA  PHYSICAL MONERO COINS 999 FINE SILVER.
 
nmtrader100
Newbie
*
Offline Offline

Activity: 51
Merit: 0


View Profile
February 06, 2014, 10:31:15 PM
#85

Are BTC withdrawals completely down for everyone now?  I am surprised there is not a bigger stick going on around here.  I know a lot of idiots like me still use Gox for trading/diversification.  I am waiting 6 hours now for a 1 BTC withdrawal.
CompNsci
Sr. Member
****
Offline Offline

Activity: 328
Merit: 253


View Profile
February 06, 2014, 11:20:50 PM
#86

just got off IRC with Karpeles.

it's a technical glitch, not insolvency.  they're still working to fix it.

Which channel do you find him on? I've looked occasionally and don't see him on the obvious ones.

I agree that the available public record of the withdraw transactions supports the idea that it is most likely a technical glitch.

Nonetheless, that exchange really needs to clean up its professional act.
keithers
Legendary
*
Offline Offline

Activity: 1386
Merit: 1001


This is the land of wolves now & you're not a wolf


View Profile
February 06, 2014, 11:22:38 PM
#87

just got off IRC with Karpeles.

it's a technical glitch, not insolvency.  they're still working to fix it.

Which channel do you find him on? I've looked occasionally and don't see him on the obvious ones.

I agree that the available public record of the withdraw transactions supports the idea that it is most likely a technical glitch.

Nonetheless, that exchange really needs to clean up its professional act.

So you are really buying the fact that it is a technical glitch that it is only affecting the  "larger" withdrawals?
CompNsci
Sr. Member
****
Offline Offline

Activity: 328
Merit: 253


View Profile
February 06, 2014, 11:27:00 PM
#88

You just can't have problems sending BTC, thats the whole point of the protocol.

Unless you don't have BTC to send.

Actually, if you check the transactions they are trying to post, which is available on the public api, it turns out they are trying to post invalid transactions which spend the same output twice. See comment 27 on the Falvinge article at
Comment #27 on http://falkvinge.net/2014/02/04/major-bitcoin-exchange-not-executing-withdrawals-now-owes-clients-38m-in-disappeared-money/ .

So not only is it possible, but Mt. Gox found a way to do so on a massive scale!
CompNsci
Sr. Member
****
Offline Offline

Activity: 328
Merit: 253


View Profile
February 06, 2014, 11:33:14 PM
#89

So you are really buying the fact that it is a technical glitch that it is only affecting the  "larger" withdrawals?

As I posted previously, it appears to affect both small and larger withdrawals. Though larger withdrawals, which have to draw inputs from a larger number of other transactions might have a greater probability of using some outputs which have already been used.

The comment on the article I linked to just above
(Comment #27 on http://falkvinge.net/2014/02/04/major-bitcoin-exchange-not-executing-withdrawals-now-owes-clients-38m-in-disappeared-money/ ) has a pretty good discussion of what is likely happening.

A very frustrating and annoying situation due to incompetence, but I suspect not malice.
medialab101
Hero Member
*****
Offline Offline

Activity: 583
Merit: 500


View Profile
February 06, 2014, 11:45:16 PM
#90

So you are really buying the fact that it is a technical glitch that it is only affecting the  "larger" withdrawals?

As I posted previously, it appears to affect both small and larger withdrawals. Though larger withdrawals, which have to draw inputs from a larger number of other transactions might have a greater probability of using some outputs which have already been used.

The comment on the article I linked to just above
(Comment #27 on http://falkvinge.net/2014/02/04/major-bitcoin-exchange-not-executing-withdrawals-now-owes-clients-38m-in-disappeared-money/ ) has a pretty good discussion of what is likely happening.

A very frustrating and annoying situation due to incompetence, but I suspect not malice.

I've been tracking several threads on this and the overall feeling seems to be 'unfathomable incompetence' rather than 'straight up Ponzi scam.'
aesma
Hero Member
*****
Offline Offline

Activity: 840
Merit: 505



View Profile
February 06, 2014, 11:47:08 PM
#91

Banks are the enemy right? Imagine if you walked into a bank and they said "sorry no withdraws our system is down until who knows when". And then it started happening at a lot of banks, and certain banks would just vanish after you deposited your money would you still have faith in the banking system? Its a big deal.

Well if you use MtGox you're still using banks, bitcoin has not much to do with that.
Phinnaeus Gage
Legendary
*
Offline Offline

Activity: 1750
Merit: 1094


Bitcoin: An Idea Worth Spending


View Profile WWW
February 06, 2014, 11:52:12 PM
#92

MtGox does not have "issues" sending the money. They just don't have the money. End of story.



I, too, want to quote the best post on this thread, sans resizing the epic pic.

IAO Launchpad Coming Soon
CompNsci
Sr. Member
****
Offline Offline

Activity: 328
Merit: 253


View Profile
February 06, 2014, 11:55:54 PM
#93

I've been tracking several threads on this and the overall feeling seems to be 'unfathomable incompetence' rather than 'straight up Ponzi scam.'

Yes, while it likely is hard to properly sort the transactions and which outputs to use and then having to wait for acceptance on the chain before using the change, it can be done in a proper multi-threaded way. Not properly testing software in such broad use on a test network with good stress testing is a bit ridiculous if it wasn't done. OTOH, race conditions in multi-threaded programs are some of the hardest to debug.
medialab101
Hero Member
*****
Offline Offline

Activity: 583
Merit: 500


View Profile
February 07, 2014, 12:01:18 AM
#94

I've been tracking several threads on this and the overall feeling seems to be 'unfathomable incompetence' rather than 'straight up Ponzi scam.'

Yes, while it likely is hard to properly sort the transactions and which outputs to use and then having to wait for acceptance on the chain before using the change, it can be done in a proper multi-threaded way. Not properly testing software in such broad use on a test network with good stress testing is a bit ridiculous if it wasn't done. OTOH, race conditions in multi-threaded programs are some of the hardest to debug.


However, this story did give me pause... I'm pretty sure this was Gox, I've seen these sorts of transactions go through in the past month.   http://www.reddit.com/r/Bitcoin/comments/1wtbiu/how_i_stole_roughly_100_btc_from_an_exchange_and/
tvbcof
Legendary
*
Offline Offline

Activity: 2968
Merit: 1043


View Profile
February 07, 2014, 12:38:17 AM
#95


However, this story did give me pause... I'm pretty sure this was Gox, I've seen these sorts of transactions go through in the past month.   http://www.reddit.com/r/Bitcoin/comments/1wtbiu/how_i_stole_roughly_100_btc_from_an_exchange_and/

ROTFL!  I bet it was Gox.  What a bunch of goobs.

I had estimated that by this time Mt. Gox would have hired some competent engineers, especially considering all the problems they've suffered in the past.  Bzzzt.  Thankfully I drew all my funding to zero some months ago since by that time it looked like my estimates were in error.  And, of course, for Americans they are largely useless to use for almost anything resembling and exchange or a reliable and forthright business partner.


AndersAA
Full Member
***
Offline Offline

Activity: 216
Merit: 100


View Profile
February 07, 2014, 01:02:02 AM
#96

Why would anyone have 0.00000001BTC at MtGox? You can't withdraw so the only point would be to trade and speculate - but why leave anything you care about there when you are done trading! When do people learn to keep their own money in their own wallets?

My bet at the moment would be technical glitches worsened by more people trying to withdraw though - if MtGox was going to run they probably would've done so a while ago.
donate2me
Newbie
*
Offline Offline

Activity: 14
Merit: 0


View Profile
February 07, 2014, 01:33:51 AM
#97

I'm looking for answers as to why KNC, coin terra, butterfly labs, hash fast , etc don't actually sell anything.  They just take thousands of dollars from people trusting they will get a money making machine.  I'm sorry but I don't buy into this.  And now that mt gox is being revealed as a Ponzi scheme,  it just seem very suspicious.  Someone is making a grip of money,  which means that thousands of people have to lose money!  Good luck to all!
kkaspar
Full Member
***
Offline Offline

Activity: 140
Merit: 100

banned but not broken


View Profile
February 07, 2014, 01:53:03 AM
#98

MtGox does not have "issues" sending the money. They just don't have the money. End of story.



Believe it or not, but there are people out there, who find information channels, like this forum, too complex to comprehend. There are people out there who are used to getting their information from the evening news, and if some of them lose their path and wonder to the world of bitcoin, then they will get their information from places like bitcoin.org. Places that are still recommending MtGox as the first choice of exchanges.. There is no clear central information network about the integrity of different exchanges.
And if you are saying "to hell with those people, they are stupid and deserve it", then you are saying to hell with bitcoin. Because these kind of people are still the majority of society, and these people would be the future of bitcoin if bitcoin has a future.
Don't be an elitist snoob with the fact that you get your information by more complex methods. That will scare away those who you see as inferior, and then they don't want to play bitcoin with you anymore..
nmtrader100
Newbie
*
Offline Offline

Activity: 51
Merit: 0


View Profile
February 07, 2014, 02:42:51 AM
#99

People generally assume that there is fraud afoot because no one can believe that they can possibly be as incompetent as they are. 

By the way, its not just large withdrawals.  I tried to withdraw 1 BTC today, going on 12 hours now and it still has not gone through.  I don't think any withdrawals at all are happening.  You would think they would stop withdrawals until they figure it out, or make an announcement, but alas, read the first sentence above.
Alvara80
Newbie
*
Offline Offline

Activity: 9
Merit: 0


View Profile
February 07, 2014, 04:51:28 AM

Well my .8 ish BTC withdrawal has been pending for over an hour for me now.

It's amazing how many incompetent programmers there are in the world. Wink
I've worked with enough of them.
bryant.coleman
Legendary
*
Offline Offline

Activity: 2212
Merit: 1036


LiveCoin - is a modern stock exchange


View Profile
February 07, 2014, 05:02:00 AM

BTC now $759 in Mt Gox, and $736 in Bitstamp....

█████████▄           ▄█
▀██▄         ██
▀██▄    ▄▄ ██
▀███ ███ ██
█████████▄        ▀▀ ██
▀██▄      ▄▄ ██
▄█████████ ███ ██
▄██▀          ▀▀ ██
████
█▀            ▄▄ ██
▄██ ███ ██
▄██▀   ▀▀ ██
▄██▀        ██
███████████▀          ▀█




▄▄█
█████
█████
█████
█████
█████

█████

█████

█████


▄▄█
█████
█████
█████
█████
█████
█████
█████

█████

█████

█████
▄▄█
█████
█████
█████
█████
█████
█████
█████
█████
█████

█████

█████

█████
█▄           ▄█████████
██         ▄██▀
██ ▄▄    ▄██▀
██ ███ ███▀
██ ▀▀        ▄█████████
██ ▄▄      ▄██▀
██ ███ █████████▄
██ ▀▀          ▀██▄
██ ▄▄            ▀█████
██ ███ ██▄
██ ▀▀   ▀██▄
██        ▀██▄
█▀          ▀███████████
tvbcof
Legendary
*
Offline Offline

Activity: 2968
Merit: 1043


View Profile
February 07, 2014, 05:17:31 AM

BTC now $759 in Mt Gox, and $736 in Bitstamp....

I'd expect a massive dump if/when Mt. Gox finally starts delivering BTC.

I'll bet that a lot of people already had the money spent in their minds.  When Mt. Lox locked it up, I'll bet that a great many of them suddenly realized how at-risk and 'virtual' their winnings actually are and decided to cash out some when they got a chance.  They'll do so in a panic.

(ya, ya...belongs on speculation...I know...)


disclaimer201
Legendary
*
Offline Offline

Activity: 1470
Merit: 1001


View Profile
February 07, 2014, 05:25:32 AM

Everything is looking so scammish lately, even projects that seem so legit. Cryptsy, scharmbeck, now gox. Seriously this kind of shit will kill crypto.

That's a little bit pessimistic. Most alt coins are pretty much scam land already. Crypsty hasn't scammed people to my knowledge, just a lot of problems with that website (remember when you could withdraw 10 btc or whatever that you didn't even have?). Gox never scammed people, their website just has some technical problems sometimes.

yes, Karpeles has never stolen from anyone.

in fact, he's covered ppl's losses from his own funds when he was responsible for destroyed coins from his coding errors.  he's always fixed the problems and security has been impeccable since 2011.

he'll get this one fixed too.

Don't forget tens of thousands of coins held hostage from the bitcoinica debacle and even resisting to make them available to a court appointed liquidator? I still hope Gox will be sued for this by the liquidators and big investors' funds. In my view Karpeles is a crook.
gollum
Sr. Member
****
Offline Offline

Activity: 434
Merit: 250


In Hashrate We Trust!


View Profile
February 07, 2014, 05:35:40 AM

The rats are leaving the sinking bitcoin ship & the unreliable MtGox...
After all bitcoin is just a ponzi scheme, you profit as long as there are greater fools who buy your coins at a higher dollar-price.

From an idealist point of view a coin should be free and instead the coin should gain it's value as an IOU for the delivery of goods or services, for example gold.
QuestionAuthority
Legendary
*
Offline Offline

Activity: 2086
Merit: 1375


You lead and I'll watch you walk away.


View Profile
February 07, 2014, 05:41:49 AM

Has anyone thought about maybe Mark K is simply taking a vacation? I hear he's been trying to visit this pretty beach for some time now.



Da Da Dum Dum Dum - Another One Bites The Dust

daserpent1
Sr. Member
****
Offline Offline

Activity: 440
Merit: 250



View Profile
February 07, 2014, 05:44:01 AM

New press release from gox https://www.mtgox.com/press_release_20140207.html
Domich
Newbie
*
Offline Offline

Activity: 15
Merit: 0


View Profile
February 07, 2014, 05:46:28 AM

Sent with MtGox btc, none came, in blockchain can not see them, it took 9:00 that might be?

Used a translator Sad
tvbcof
Legendary
*
Offline Offline

Activity: 2968
Merit: 1043


View Profile
February 07, 2014, 05:46:56 AM

Has anyone thought about maybe Mark K is simply taking a vacation? I hear he's been trying to visit this pretty beach for some time now.



Da Da Dum Dum Dum - Another One Bites The Dust

Water skiing, surf boarding, oh boy what fun!


disclaimer201
Legendary
*
Offline Offline

Activity: 1470
Merit: 1001


View Profile
February 07, 2014, 05:52:29 AM

The rats are leaving the sinking bitcoin ship & the unreliable MtGox...
After all bitcoin is just a ponzi scheme, you profit as long as there are greater fools who buy your coins at a higher dollar-price.

From an idealist point of view a coin should be free and instead the coin should gain it's value as an IOU for the delivery of goods or services, for example gold.

Wrong.. Bitcoin has nothing to do with Ponzis whatsoever. Read up on Ponzis and don't stop at the wikipedia headline. MtGox however could be much more similar to what you are talking about if accusations would prove to be true. Still wouldn't count as Ponzi though. But if they took traders' deposits to pay out withdrawals or traded on their own account (as a bank was doing in the mid 90s, true story - see the movie rogue trader with Ewan McGregor) and artifically helped to push up the bitcoin price, yeah it's close to a Ponzi.

None of this has to do with Bitcoin as such though. There are now lots of other big exchanges and if Gox should go away, Bitcoin will continue to prosper.
QuestionAuthority
Legendary
*
Offline Offline

Activity: 2086
Merit: 1375


You lead and I'll watch you walk away.


View Profile
February 07, 2014, 05:55:53 AM


You got the address wrong. Here is the correct one. http://tinyurl.com/MtCocks

Bit_Happy
Legendary
*
Offline Offline

Activity: 1960
Merit: 1020


A Great Time to Start Something!


View Profile
February 07, 2014, 05:58:29 AM

They are a Gold Member of the Bitcoin Foundation, how come people do not trust them?   Cheesy
cottoneyeJoe
Member
**
Offline Offline

Activity: 91
Merit: 10


View Profile
February 07, 2014, 06:02:05 AM


Wait...what?Huh I thought php could do anything? At least that's what Mark said once upon a time. Maybe they finally turned on their LTC support and it borked their homebrew BTC client?

Shocking incompetence but really just another in a long line of cock ups.
disclaimer201
Legendary
*
Offline Offline

Activity: 1470
Merit: 1001


View Profile
February 07, 2014, 06:08:05 AM

They are a Gold Member of the Bitcoin Foundation, how come people do not trust them?   Cheesy

Lol. Exactly.  Cheesy Trust this guy! Gives great speeches for the BBC on behalf of Bitcoin. NOT https://bitcointalk.org/index.php?topic=451635.msg4989635#msg4989635

Also leaks sourcecodes for huge shorting platforms since 2012.
User705
Legendary
*
Offline Offline

Activity: 980
Merit: 1006


View Profile
February 07, 2014, 06:11:37 AM

How long is MtGox going to be a scab on the face of Bitcoin?

Stop using MtGox people. That was obvious in 2011...


for the truth.


use btc-e or bitsimple

why use gox? wtf?
Who's bitsimple?

hello, world!
User705
Legendary
*
Offline Offline

Activity: 980
Merit: 1006


View Profile
February 07, 2014, 06:15:05 AM

How long is MtGox going to be a scab on the face of Bitcoin?

Stop using MtGox people. That was obvious in 2011...


for the truth.


use btc-e or bitsimple

why use gox? wtf?
Who's bitsimple?

bitsimple.com they dont scam

used to be fastcash4bitcoin.com but that was before your time.
I think I saw tangible cryptography somewhere before.  US based scary a bit but I'll check em out.  Thanks.

hello, world!
smoothie
Legendary
*
Offline Offline

Activity: 2128
Merit: 1018


LEALANA Monero Physical Silver Coins


View Profile
February 07, 2014, 06:21:31 AM

Quote
Dear MtGox Customers,

During our efforts to resolve the issue being encountered by some bitcoin withdrawals it was determined that the increase in withdrawal traffic is hindering our efforts on a technical level. As to get a better look at the process the system needs to be in a static state.

In order for our team to resolve the withdrawal issue it is necessary to temporarily pause all withdrawal traffic to obtain a clear technical view of the current processes.

We apologize for the extremely short notice, but as of now all bitcoin withdrawals will be paused, and withdrawals in the queue will returned to your MtGox wallet and can be re-intiated once the issue is resolved. Customers can still use the trading platform as usual.


Our team will be working hard through the weekend and will provide an update on Monday, February 10, 2014 (JST).

Again, we apologize for the inconvenience, and ask for your continued patience and support while we work to resolve this issue.

Best regards,

The MtGox Team

As usual? lol

I guess in that sense they are consistently incompetent in keeping their customers unable to utilitze their "system's" functionality to its fullest.

1. Can't get fiat out in any meaningful way - CHECK

2. Can't get Bitcoin out in any meaningful way - CHECK

3. You can still buy and sell bitcoins using MTGOXUSD (and other fiat) and pay them trading fees - CHECK

4. All is well - CHECK

███████████████████████████████████████

            ,╓p@@███████@╗╖,           
        ,p████████████████████N,       
      d█████████████████████████b     
    d██████████████████████████████   
  ,█████████████████████████████████, 
 ,█████  ╙████████████████████╨  █████y
 ██████    `████████████████`    ██████
║██████       ███████████`      ███████
███████         ╩██████         ███████
███████    ▐▄     ██╩     a▌    ███████
╢██████    ▐▓█▄          ▄█▓▌    ███████
 ██████    ▐▓▓▓▓▌,     ▄█▓▓▓▌    ██████─
           ▐▓▓▓▓▓▓█,,▄▓▓▓▓▓▓▌          
           ▐▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▌          
    ▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓─  
     ▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓╩    
        ▀▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▀       
           ▀▀▓▓▓▓▓▓▓▓▓▓▓▓▀▀`          
                                    
███████████████████████████████████████

. ★☆ WWW.LEALANA.COM        My PGP fingerprint is A764D833.                  History of Monero development Visualization ★☆ .
LEALANA  PHYSICAL MONERO COINS 999 FINE SILVER.
 
User705
Legendary
*
Offline Offline

Activity: 980
Merit: 1006


View Profile
February 07, 2014, 06:22:46 AM

How long is MtGox going to be a scab on the face of Bitcoin?

Stop using MtGox people. That was obvious in 2011...


for the truth.


use btc-e or bitsimple

why use gox? wtf?
Who's bitsimple?

bitsimple.com they dont scam

used to be fastcash4bitcoin.com but that was before your time.
I think I saw tangible cryptography somewhere before.  US based scary a bit but I'll check em out.  Thanks.

bitsimple.com is registed with the us govt, btc-e is registerd with the russian mob.

either one is good.

better than gox, lol
Damn now there you go making the decision harder.  Russian mob vs US govt.  Better flip a coin just to be on the safe side.

hello, world!
bryant.coleman
Legendary
*
Offline Offline

Activity: 2212
Merit: 1036


LiveCoin - is a modern stock exchange


View Profile
February 07, 2014, 06:23:49 AM

use btc-e or bitsimple

why use gox? wtf?

People use Mt Gox because the owners are known to everyone... unlike the BTC-E.

█████████▄           ▄█
▀██▄         ██
▀██▄    ▄▄ ██
▀███ ███ ██
█████████▄        ▀▀ ██
▀██▄      ▄▄ ██
▄█████████ ███ ██
▄██▀          ▀▀ ██
████
█▀            ▄▄ ██
▄██ ███ ██
▄██▀   ▀▀ ██
▄██▀        ██
███████████▀          ▀█




▄▄█
█████
█████
█████
█████
█████

█████

█████

█████


▄▄█
█████
█████
█████
█████
█████
█████
█████

█████

█████

█████
▄▄█
█████
█████
█████
█████
█████
█████
█████
█████
█████

█████

█████

█████
█▄           ▄█████████
██         ▄██▀
██ ▄▄    ▄██▀
██ ███ ███▀
██ ▀▀        ▄█████████
██ ▄▄      ▄██▀
██ ███ █████████▄
██ ▀▀          ▀██▄
██ ▄▄            ▀█████
██ ███ ██▄
██ ▀▀   ▀██▄
██        ▀██▄
█▀          ▀███████████
smoothie
Legendary
*
Offline Offline

Activity: 2128
Merit: 1018


LEALANA Monero Physical Silver Coins


View Profile
February 07, 2014, 06:26:37 AM

Quote
Dear MtGox Customers,

During our efforts to resolve the issue being encountered by some bitcoin withdrawals it was determined that the increase in withdrawal traffic is hindering our efforts on a technical level. As to get a better look at the process the system needs to be in a static state.

In order for our team to resolve the withdrawal issue it is necessary to temporarily pause all withdrawal traffic to obtain a clear technical view of the current processes.

We apologize for the extremely short notice, but as of now all bitcoin withdrawals will be paused, and withdrawals in the queue will returned to your MtGox wallet and can be re-intiated once the issue is resolved. Customers can still use the trading platform as usual.


Our team will be working hard through the weekend and will provide an update on Monday, February 10, 2014 (JST).

Again, we apologize for the inconvenience, and ask for your continued patience and support while we work to resolve this issue.

Best regards,

The MtGox Team

As usual? lol

I guess in that sense they are consistently incompetent in keeping their customers able to utilitze their "system's" functionality to its fullest.


i should call up mark and ask him when he is going to add litecoin.

Do ya really want to add a cancer like MTGOX to Litecoin's rep? I would think not.

But I know you are kidding. lol

███████████████████████████████████████

            ,╓p@@███████@╗╖,           
        ,p████████████████████N,       
      d█████████████████████████b     
    d██████████████████████████████   
  ,█████████████████████████████████, 
 ,█████  ╙████████████████████╨  █████y
 ██████    `████████████████`    ██████
║██████       ███████████`      ███████
███████         ╩██████         ███████
███████    ▐▄     ██╩     a▌    ███████
╢██████    ▐▓█▄          ▄█▓▌    ███████
 ██████    ▐▓▓▓▓▌,     ▄█▓▓▓▌    ██████─
           ▐▓▓▓▓▓▓█,,▄▓▓▓▓▓▓▌          
           ▐▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▌          
    ▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓─  
     ▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓╩    
        ▀▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▀       
           ▀▀▓▓▓▓▓▓▓▓▓▓▓▓▀▀`          
                                    
███████████████████████████████████████

. ★☆ WWW.LEALANA.COM        My PGP fingerprint is A764D833.                  History of Monero development Visualization ★☆ .
LEALANA  PHYSICAL MONERO COINS 999 FINE SILVER.
 
smoothie
Legendary
*
Offline Offline

Activity: 2128
Merit: 1018


LEALANA Monero Physical Silver Coins


View Profile
February 07, 2014, 06:28:03 AM

use btc-e or bitsimple

why use gox? wtf?

People use Mt Gox because the owners are known to everyone... unlike the BTC-E.

I guess they also use MTGOX because they will accept your USD wire but claim they can't send out USD wires in any meaningful timeframe right?

Functionality is 100% there...nothing to see here  Roll Eyes

███████████████████████████████████████

            ,╓p@@███████@╗╖,           
        ,p████████████████████N,       
      d█████████████████████████b     
    d██████████████████████████████   
  ,█████████████████████████████████, 
 ,█████  ╙████████████████████╨  █████y
 ██████    `████████████████`    ██████
║██████       ███████████`      ███████
███████         ╩██████         ███████
███████    ▐▄     ██╩     a▌    ███████
╢██████    ▐▓█▄          ▄█▓▌    ███████
 ██████    ▐▓▓▓▓▌,     ▄█▓▓▓▌    ██████─
           ▐▓▓▓▓▓▓█,,▄▓▓▓▓▓▓▌          
           ▐▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▌          
    ▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓─  
     ▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓╩    
        ▀▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▀       
           ▀▀▓▓▓▓▓▓▓▓▓▓▓▓▀▀`          
                                    
███████████████████████████████████████

. ★☆ WWW.LEALANA.COM        My PGP fingerprint is A764D833.                  History of Monero development Visualization ★☆ .
LEALANA  PHYSICAL MONERO COINS 999 FINE SILVER.
 
Come-from-Beyond
Legendary
*
Offline Offline

Activity: 2128
Merit: 1009

Newbie


View Profile
February 07, 2014, 06:28:33 AM

Believe it or not, but there are people out there, who find information channels, like this forum, too complex to comprehend. There are people out there who are used to getting their information from the evening news, and if some of them lose their path and wonder to the world of bitcoin, then they will get their information from places like bitcoin.org. Places that are still recommending MtGox as the first choice of exchanges.. There is no clear central information network about the integrity of different exchanges.
And if you are saying "to hell with those people, they are stupid and deserve it", then you are saying to hell with bitcoin. Because these kind of people are still the majority of society, and these people would be the future of bitcoin if bitcoin has a future.
Don't be an elitist snoob with the fact that you get your information by more complex methods. That will scare away those who you see as inferior, and then they don't want to play bitcoin with you anymore..

Point taken, seems u r right. Shame on Bitcoin Foundation ruled by bunch of scam artists...
bryant.coleman
Legendary
*
Offline Offline

Activity: 2212
Merit: 1036


LiveCoin - is a modern stock exchange


View Profile
February 07, 2014, 06:29:25 AM

and how is that working out?

Edit: yes we know who mark is, we know he is running a ponzi and we know the dea has him by the balls... wait a second, were you being sarcastic?

At least in the case of Mt Gox, at least we know against whom we should file the court case.

█████████▄           ▄█
▀██▄         ██
▀██▄    ▄▄ ██
▀███ ███ ██
█████████▄        ▀▀ ██
▀██▄      ▄▄ ██
▄█████████ ███ ██
▄██▀          ▀▀ ██
████
█▀            ▄▄ ██
▄██ ███ ██
▄██▀   ▀▀ ██
▄██▀        ██
███████████▀          ▀█




▄▄█
█████
█████
█████
█████
█████

█████

█████

█████


▄▄█
█████
█████
█████
█████
█████
█████
█████

█████

█████

█████
▄▄█
█████
█████
█████
█████
█████
█████
█████
█████
█████

█████

█████

█████
█▄           ▄█████████
██         ▄██▀
██ ▄▄    ▄██▀
██ ███ ███▀
██ ▀▀        ▄█████████
██ ▄▄      ▄██▀
██ ███ █████████▄
██ ▀▀          ▀██▄
██ ▄▄            ▀█████
██ ███ ██▄
██ ▀▀   ▀██▄
██        ▀██▄
█▀          ▀███████████
smoothie
Legendary
*
Offline Offline

Activity: 2128
Merit: 1018


LEALANA Monero Physical Silver Coins


View Profile
February 07, 2014, 06:29:43 AM

It's going to be a long weekend for MTGOX users.

███████████████████████████████████████

            ,╓p@@███████@╗╖,           
        ,p████████████████████N,       
      d█████████████████████████b     
    d██████████████████████████████   
  ,█████████████████████████████████, 
 ,█████  ╙████████████████████╨  █████y
 ██████    `████████████████`    ██████
║██████       ███████████`      ███████
███████         ╩██████         ███████
███████    ▐▄     ██╩     a▌    ███████
╢██████    ▐▓█▄          ▄█▓▌    ███████
 ██████    ▐▓▓▓▓▌,     ▄█▓▓▓▌    ██████─
           ▐▓▓▓▓▓▓█,,▄▓▓▓▓▓▓▌          
           ▐▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▌          
    ▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓─  
     ▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓╩    
        ▀▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▀       
           ▀▀▓▓▓▓▓▓▓▓▓▓▓▓▀▀`          
                                    
███████████████████████████████████████

. ★☆ WWW.LEALANA.COM        My PGP fingerprint is A764D833.                  History of Monero development Visualization ★☆ .
LEALANA  PHYSICAL MONERO COINS 999 FINE SILVER.
 
smoothie
Legendary
*
Offline Offline

Activity: 2128
Merit: 1018


LEALANA Monero Physical Silver Coins


View Profile
February 07, 2014, 06:31:07 AM

and how is that working out?

Edit: yes we know who mark is, we know he is running a ponzi and we know the dea has him by the balls... wait a second, were you being sarcastic?

At least in the case of Mt Gox, at least we know against whom we should file the court case.

Or just dont use exchanges and do in-person transactions.

███████████████████████████████████████

            ,╓p@@███████@╗╖,           
        ,p████████████████████N,       
      d█████████████████████████b     
    d██████████████████████████████   
  ,█████████████████████████████████, 
 ,█████  ╙████████████████████╨  █████y
 ██████    `████████████████`    ██████
║██████       ███████████`      ███████
███████         ╩██████         ███████
███████    ▐▄     ██╩     a▌    ███████
╢██████    ▐▓█▄          ▄█▓▌    ███████
 ██████    ▐▓▓▓▓▌,     ▄█▓▓▓▌    ██████─
           ▐▓▓▓▓▓▓█,,▄▓▓▓▓▓▓▌          
           ▐▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▌          
    ▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓─  
     ▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓╩    
        ▀▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▀       
           ▀▀▓▓▓▓▓▓▓▓▓▓▓▓▀▀`          
                                    
███████████████████████████████████████

. ★☆ WWW.LEALANA.COM        My PGP fingerprint is A764D833.                  History of Monero development Visualization ★☆ .
LEALANA  PHYSICAL MONERO COINS 999 FINE SILVER.
 
disclaimer201
Legendary
*
Offline Offline

Activity: 1470
Merit: 1001


View Profile
February 07, 2014, 06:32:48 AM

and how is that working out?

Edit: yes we know who mark is, we know he is running a ponzi and we know the dea has him by the balls... wait a second, were you being sarcastic?

At least in the case of Mt Gox, at least we know against whom we should file the court case.

Only if you have the necessary pocket money, which in many cases could be more than what Gox owes you.
smoothie
Legendary
*
Offline Offline

Activity: 2128
Merit: 1018


LEALANA Monero Physical Silver Coins


View Profile
February 07, 2014, 06:34:57 AM

If you ask me their claim is nothing but an attempt to buy more time.

If they can stop BTC withdrawals that stops their "bank" from becoming insolvent in the short-term.

███████████████████████████████████████

            ,╓p@@███████@╗╖,           
        ,p████████████████████N,       
      d█████████████████████████b     
    d██████████████████████████████   
  ,█████████████████████████████████, 
 ,█████  ╙████████████████████╨  █████y
 ██████    `████████████████`    ██████
║██████       ███████████`      ███████
███████         ╩██████         ███████
███████    ▐▄     ██╩     a▌    ███████
╢██████    ▐▓█▄          ▄█▓▌    ███████
 ██████    ▐▓▓▓▓▌,     ▄█▓▓▓▌    ██████─
           ▐▓▓▓▓▓▓█,,▄▓▓▓▓▓▓▌          
           ▐▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▌          
    ▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓─  
     ▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓╩    
        ▀▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▀       
           ▀▀▓▓▓▓▓▓▓▓▓▓▓▓▀▀`          
                                    
███████████████████████████████████████

. ★☆ WWW.LEALANA.COM        My PGP fingerprint is A764D833.                  History of Monero development Visualization ★☆ .
LEALANA  PHYSICAL MONERO COINS 999 FINE SILVER.
 
User705
Legendary
*
Offline Offline

Activity: 980
Merit: 1006


View Profile
February 07, 2014, 06:39:35 AM

If you ask me their claim is nothing but an attempt to buy more time.

If they can stop BTC withdrawals that stops their "bank" from becoming insolvent in the short-term.
One possibility is that it's an attempt to drive the price below other exchanges in order to attract more fiat once the "technical difficulties" magically resolve themselves.

hello, world!
BadBear
v2.0
Legendary
*
Offline Offline

Activity: 1652
Merit: 1025



View Profile WWW
February 07, 2014, 07:01:03 AM

People still use MtGox? Geesh, some never learn.

1Kz25jm6pjNTaz8bFezEYUeBYfEtpjuKRG | PGP: B5797C4F

Tired of annoying signature ads? Ad block for signatures
Phinnaeus Gage
Legendary
*
Offline Offline

Activity: 1750
Merit: 1094


Bitcoin: An Idea Worth Spending


View Profile WWW
February 07, 2014, 07:01:49 AM

Has anyone thought about maybe Mark K is simply taking a vacation? I hear he's been trying to visit this pretty beach for some time now.



Da Da Dum Dum Dum - Another One Bites The Dust

Water skiing, surf boarding, oh boy what fun!


While listening to Iron Maiden with the Scavenger's Daughter on the beach, somebody'll be tightening the Thumbscrews on The Wheel that's turning The Rack of Brazen Bull, of which will be served up with Stake and Choke Pears prior to a fun game of Pillory.

My only question is, why weren't tickets made available via pre-orders?

IAO Launchpad Coming Soon
pleiotropik
Full Member
***
Offline Offline

Activity: 144
Merit: 100


View Profile
February 07, 2014, 07:52:35 AM

Gox was my entry portal to btc in march. i tried to withdraw some $ in august and waited 8 weeks. nothing happened so i reconverted to BTC and promptly sent to wallet, left $2 usd there as a placeholder. All the warning signs were there that  the place was in disarray. there's a commandment laying around that i paraphrase: "If you do not answer a question properly, with good manners and in due time, you flunk."

I've lost some coin in this and other ventures but never twice, or a significant amount because i'm alert at the response time of the person/corporation i'm dealing with...

A while back i read the interview of the Gox guy... He gave the interview sitting on a bounce ball... Obviously a person totally out of his depth, perhaps semi autistic... this will delay the coming of age of the whole criptocoin ecology. Suits me fine. Gives me time to enter at cheaper prices.
bryant.coleman
Legendary
*
Offline Offline

Activity: 2212
Merit: 1036


LiveCoin - is a modern stock exchange


View Profile
February 07, 2014, 08:43:23 AM

BTC is going below $650... I am concerned.  Angry

█████████▄           ▄█
▀██▄         ██
▀██▄    ▄▄ ██
▀███ ███ ██
█████████▄        ▀▀ ██
▀██▄      ▄▄ ██
▄█████████ ███ ██
▄██▀          ▀▀ ██
████
█▀            ▄▄ ██
▄██ ███ ██
▄██▀   ▀▀ ██
▄██▀        ██
███████████▀          ▀█




▄▄█
█████
█████
█████
█████
█████

█████

█████

█████


▄▄█
█████
█████
█████
█████
█████
█████
█████

█████

█████

█████
▄▄█
█████
█████
█████
█████
█████
█████
█████
█████
█████

█████

█████

█████
█▄           ▄█████████
██         ▄██▀
██ ▄▄    ▄██▀
██ ███ ███▀
██ ▀▀        ▄█████████
██ ▄▄      ▄██▀
██ ███ █████████▄
██ ▀▀          ▀██▄
██ ▄▄            ▀█████
██ ███ ██▄
██ ▀▀   ▀██▄
██        ▀██▄
█▀          ▀███████████
crazy_rabbit
Legendary
*
Offline Offline

Activity: 1176
Merit: 1001


RUM AND CARROTS: A PIRATE LIFE FOR ME


View Profile
February 07, 2014, 08:47:34 AM

I highly, highly, doubt Gox is going belly up. They handle an enormous volume both in trade and deposit/withdrawals. Obviously there is some sort of issue that needs to get solved. Maybe there is some sort of issue that only crops up with very large withdrawal volume. Either way, chill out. :-)

more or less retired.
Palmdetroit
Legendary
*
Offline Offline

Activity: 910
Merit: 1000


PHS 50% PoS - Stop mining start minting


View Profile
February 07, 2014, 08:50:07 AM

mah bum hurts.


that chart from earlier and that channel... time will tell

My guess is massive support 150-180 if it's there's enough 'bad' news at once.

Bit_Happy
Legendary
*
Offline Offline

Activity: 1960
Merit: 1020


A Great Time to Start Something!


View Profile
February 07, 2014, 09:01:11 AM

This is a great time to be alive  Smiley

mah bum hurts.


that chart from earlier and that channel... time will tell

My guess is massive support 150-180 if it's there's enough 'bad' news at once.

People are overly scared so the market will go up instead....LOL.
disclaimer201
Legendary
*
Offline Offline

Activity: 1470
Merit: 1001


View Profile
February 07, 2014, 09:17:45 AM

I highly, highly, doubt Gox is going belly up. They handle an enormous volume both in trade and deposit/withdrawals. Obviously there is some sort of issue that needs to get solved. Maybe there is some sort of issue that only crops up with very large withdrawal volume. Either way, chill out. :-)

Their death is long overdue though.
Mjbmonetarymetals
Legendary
*
Offline Offline

Activity: 1095
Merit: 1000



View Profile WWW
February 07, 2014, 09:43:06 AM

Banks are the enemy right? Imagine if you walked into a bank and they said "sorry no withdraws our system is down until who knows when". And then it started happening at a lot of banks, and certain banks would just vanish after you deposited your money would you still have faith in the banking system? Its a big deal.

Your money does vanish when you deposit it into a bank, everyone just try and withdraw your Money on the same day  Roll Eyes

A guy who banked with HSBC recently tried to withdraw 7000 from his account to give to his mother - was told he needed a written signed letter confirming it from said mother.
Artlover
Full Member
***
Offline Offline

Activity: 149
Merit: 100


View Profile
February 07, 2014, 09:52:40 AM

In the bigger picture, I don't understand why people are surprised. There have been warning signs for years.

First, they were a playing cards exchange that jumped ship to get into this later as an after thought because it was more profitable for them.

Second, lets go back to 2011, when an auditor's account was hacked and 2000 BTC were stolen.

Third, openly manipulating the market by simply shutting down their exchange for a "cooldown" period. TWICE!

Fourth, this is not new. They have been having problems since mid 2013. Such as being sued for $75 million dollars by CoinLab and US Feds seizing $5 million in assets because they were not registered in the US as money transmitters back in May, suspending USD withdrawals in June, USD withdrawals not working when they resumed in July, a claim of massive losses in August from crediting deposits before they actually cleared. The buffer they had ran out, and now we're at where we're at.

Fifth is that their exchange rate has always been so much higher than that of all the other exchanges which more or less tracked around the same level. Now, yes, there can be variance in exchange rates dependent on local currency value and exchange volume and other such factors, but it never really did make sense that their exchange alone consistently was 20%+ better than everyone else. It always smelled of price manipulation, but most users never bothered to care because it worked in their favor, or so they thought. There is a saying: "If it seems to good to be true, it probably is!"


So whats happening now? USD withdrawals were never fixed, only got worse and effecting other fiat's too. Insolvent with millions of dollars missing. Their CEO has disappeared as of yesterday. And now BTC withdrawals are suspended. Technical issues? Yeah right. BTC was the only thing of value MtGox possessed, and that was quickly going away as everyone started buying/withdrawing coins since they couldn't get their fiat out, so of course they shut that off.

I'm sorry that a lot of people got and will get screwed. But the writing has been on the wall for a while. They are an inexperienced and shady exchange and always have been. But too many people were (and some still are, I think) in denial of this.
smoothie
Legendary
*
Offline Offline

Activity: 2128
Merit: 1018


LEALANA Monero Physical Silver Coins


View Profile
February 07, 2014, 10:04:31 AM

In the bigger picture, I don't understand why people are surprised. There have been warning signs for years.

First, they were a playing cards exchange that jumped ship to get into this later as an after thought because it was more profitable for them.

Second, lets go back to 2011, when an auditor's account was hacked and 2000 BTC were stolen.

Third, openly manipulating the market by simply shutting down their exchange for a "cooldown" period. TWICE!

Fourth, this is not new. They have been having problems since mid 2013. Such as being sued for $75 million dollars by CoinLab and US Feds seizing $5 million in assets because they were not registered in the US as money transmitters back in May, suspending USD withdrawals in June, USD withdrawals not working when they resumed in July, a claim of massive losses in August from crediting deposits before they actually cleared. The buffer they had ran out, and now we're at where we're at.

Fifth is that their exchange rate has always been so much higher than that of all the other exchanges which more or less tracked around the same level. Now, yes, there can be variance in exchange rates dependent on local currency value and exchange volume and other such factors, but it never really did make sense that their exchange alone consistently was 20%+ better than everyone else. It always smelled of price manipulation, but most users never bothered to care because it worked in their favor, or so they thought. There is a saying: "If it seems to good to be true, it probably is!"


So whats happening now? USD withdrawals were never fixed, only got worse and effecting other fiat's too. Insolvent with millions of dollars missing. Their CEO has disappeared as of yesterday. And now BTC withdrawals are suspended. Technical issues? Yeah right. BTC was the only thing of value MtGox possessed, and that was quickly going away as everyone started buying/withdrawing coins since they couldn't get their fiat out, so of course they shut that off.

I'm sorry that a lot of people got and will get screwed. But the writing has been on the wall for a while. They are an inexperienced and shady exchange and always have been. But too many people were (and some still are, I think) in denial of this.

This "temporary" BTC withdrawal suspension (as if it was working recently) is only a way to stop the run on their wallet of BTCs.

Come Monday, if they have not fixed the issue, I would presume it isn't a technical one but more of an insolvency issue.

███████████████████████████████████████

            ,╓p@@███████@╗╖,           
        ,p████████████████████N,       
      d█████████████████████████b     
    d██████████████████████████████   
  ,█████████████████████████████████, 
 ,█████  ╙████████████████████╨  █████y
 ██████    `████████████████`    ██████
║██████       ███████████`      ███████
███████         ╩██████         ███████
███████    ▐▄     ██╩     a▌    ███████
╢██████    ▐▓█▄          ▄█▓▌    ███████
 ██████    ▐▓▓▓▓▌,     ▄█▓▓▓▌    ██████─
           ▐▓▓▓▓▓▓█,,▄▓▓▓▓▓▓▌          
           ▐▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▌          
    ▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓─  
     ▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓╩    
        ▀▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▀       
           ▀▀▓▓▓▓▓▓▓▓▓▓▓▓▀▀`          
                                    
███████████████████████████████████████

. ★☆ WWW.LEALANA.COM        My PGP fingerprint is A764D833.                  History of Monero development Visualization ★☆ .
LEALANA  PHYSICAL MONERO COINS 999 FINE SILVER.
 
matt4054
Legendary
*
Offline Offline

Activity: 1554
Merit: 1000


BitcoinQueue.com


View Profile WWW
February 07, 2014, 10:14:01 AM

If we can finally get rid of The Gox Issue once for all, that will pave the way to a solid, sustainable growth in the following months.

As far as I'm concerned they had lost my trust and I stopped using them on that famous day of April 2013 Wink
Smoked
Newbie
*
Offline Offline

Activity: 7
Merit: 0


View Profile
February 07, 2014, 10:18:22 AM

Cypress Hill ~ When The Ship Goes Down ^.^
jubalix
Legendary
*
Offline Offline

Activity: 2044
Merit: 1003


View Profile WWW
February 07, 2014, 10:27:38 AM

I highly, highly, doubt Gox is going belly up. They handle an enormous volume both in trade and deposit/withdrawals. Obviously there is some sort of issue that needs to get solved. Maybe there is some sort of issue that only crops up with very large withdrawal volume. Either way, chill out. :-)

but this for fiat has been join of for 6 months now.

I'm sure they are near full fractional reserve now which is a polite way of saying not fiat no btc,which means no pro its tom trading either because taking 0.2% from fake fiat or fake BTC = 0 profit

Admitted Practicing Lawyer::BTC/Crypto Specialist. B.Engineering/B.Laws

https://www.binance.com/?ref=10062065
bomb7
Newbie
*
Offline Offline

Activity: 62
Merit: 0


View Profile
February 07, 2014, 10:29:10 AM

I live in Japan so I though mtgox was the most convenient exchange to use. Well, it took them 2 months to verify my account, that`s how swamped and understaffed they were. That made me too suspicious to wire them any money.

Seems like they`ve just gotten way too big for the systems they had in place and don`t know what the fuck to do.
bryant.coleman
Legendary
*
Offline Offline

Activity: 2212
Merit: 1036


LiveCoin - is a modern stock exchange


View Profile
February 07, 2014, 10:44:28 AM

I live in Japan so I though mtgox was the most convenient exchange to use. Well, it took them 2 months to verify my account, that`s how swamped and understaffed they were. That made me too suspicious to wire them any money.

Hmm... they verified my account in 2 days, and I live outside Asia. Why your verification took so long?

█████████▄           ▄█
▀██▄         ██
▀██▄    ▄▄ ██
▀███ ███ ██
█████████▄        ▀▀ ██
▀██▄      ▄▄ ██
▄█████████ ███ ██
▄██▀          ▀▀ ██
████
█▀            ▄▄ ██
▄██ ███ ██
▄██▀   ▀▀ ██
▄██▀        ██
███████████▀          ▀█




▄▄█
█████
█████
█████
█████
█████

█████

█████

█████


▄▄█
█████
█████
█████
█████
█████
█████
█████

█████

█████

█████
▄▄█
█████
█████
█████
█████
█████
█████
█████
█████
█████

█████

█████

█████
█▄           ▄█████████
██         ▄██▀
██ ▄▄    ▄██▀
██ ███ ███▀
██ ▀▀        ▄█████████
██ ▄▄      ▄██▀
██ ███ █████████▄
██ ▀▀          ▀██▄
██ ▄▄            ▀█████
██ ███ ██▄
██ ▀▀   ▀██▄
██        ▀██▄
█▀          ▀███████████
smoothrunnings
Hero Member
*****
Offline Offline

Activity: 616
Merit: 500


View Profile
February 07, 2014, 11:20:57 AM

This is why exchanges needs to stop running in hobby mode and get serious. I wouldn't be surprised if we see the price of bitcoin fall to a new low and that people who are on MtGox move away from MtGox all together and start using some of the other exchanges instead.

I am surprised there isn't a stick on exchanges and their overall rating on this form, so that it gives people an alternative look to where they can do their trading if they don't like the exchange they are using, such as MtGox who is fracked everyone over 38 million in bitcoin trading. If a normal exchange did this the securities commission would come down on them hard!

Bitcoin needs to become less as a hobby and more like a serious currency.

punkrock
Hero Member
*****
Offline Offline

Activity: 811
Merit: 1010



View Profile
February 07, 2014, 11:26:07 AM

A short video showing daserpent1 in front of his PC right now: https://www.youtube.com/watch?v=WwN5so86VNI

For everyone who wants to sell - watch this video and calm down: http://www.youtube.com/watch?v=ZTjyRu88PRE
smoothrunnings
Hero Member
*****
Offline Offline

Activity: 616
Merit: 500


View Profile
February 07, 2014, 11:31:10 AM


Wow that's exact what Max Keiser has been saying about the exchanges. They simply don't care, Max believes the exchanges needs to change before bitcoin has the slightest change of becoming more stable.

Great story I recommend everyone read it. And if anything if you have bitcoins in MtGox I would take out of them, even if they are in cold storage. There are other places and other technology to put your bitcoins into cold storage.

Sonny
Hero Member
*****
Offline Offline

Activity: 868
Merit: 1000


View Profile
February 07, 2014, 11:51:55 AM


Wow that's exact what Max Keiser has been saying about the exchanges. They simply don't care, Max believes the exchanges needs to change before bitcoin has the slightest change of becoming more stable.

Great story I recommend everyone read it. And if anything if you have bitcoins in MtGox I would take out of them, even if they are in cold storage. There are other places and other technology to put your bitcoins into cold storage.



It is indeed pretty easy to set up a cold wallet with armory.  Smiley
noob2001
Hero Member
*****
Offline Offline

Activity: 574
Merit: 501


View Profile WWW
February 07, 2014, 12:02:28 PM


Wow that's exact what Max Keiser has been saying about the exchanges. They simply don't care, Max believes the exchanges needs to change before bitcoin has the slightest change of becoming more stable.

Great story I recommend everyone read it. And if anything if you have bitcoins in MtGox I would take out of them, even if they are in cold storage. There are other places and other technology to put your bitcoins into cold storage.




max keiser is a scammer who cannot be trusted.

But we do need more exchanges and more competition.......

My advice: only use cold wallets, and HOLD
Mr. Gabu
Member
**
Offline Offline

Activity: 98
Merit: 10


View Profile
February 07, 2014, 12:11:14 PM

Watch out INTERPOLs red notice list on Monday evening or Tuesday morning.
Requests (>1) are from the USA.

Was leaked by an well respected french IT security consultant in an private hacking-related chatroom.
benjyz
Full Member
***
Offline Offline

Activity: 140
Merit: 100


View Profile
February 07, 2014, 12:16:34 PM

Watch out INTERPOLs red notice list on Monday evening or Tuesday morning.
Requests (>1) are from the USA.

Was leaked by an well respected french IT security consultant in an private hacking-related chatroom.

pastebin? reminds me of the JA case. interpol = USpol.
smoothrunnings
Hero Member
*****
Offline Offline

Activity: 616
Merit: 500


View Profile
February 07, 2014, 12:24:18 PM

After reading the story below (it was posted by someone in this thread) I realized one of the things that is mentioned is the problems that MtGox is having with the banks. What is the main reason why there is a back log in bitcoin trades is because the banks and governments have decided to not accept any money from MtGox anymore that they are holding them up.

http://www.reddit.com/r/Bitcoin/comments/1x9gue/my_protest_at_mtgox_offices_5_to_7th_february

"Q1. What is causing the withdrawal delays?
Well, because Gox is the best known of all the exchanges, we have been under the regulatory spotlight.
This has created problems with government agencies, and also with our banking partners.
There are also some ongoing investigations, which we cannot talk about."


I think if this is the case and the banks and the governments are tying up their bank accounts it would be in the best of interest of MtGox to explain themselves as things could turn around more in their favor, instead of giving people their bullshit.


smoothrunnings
Hero Member
*****
Offline Offline

Activity: 616
Merit: 500


View Profile
February 07, 2014, 12:26:36 PM

Watch out INTERPOLs red notice list on Monday evening or Tuesday morning.
Requests (>1) are from the USA.

Was leaked by an well respected french IT security consultant in an private hacking-related chatroom.

So what does this mean? Interpol could be looking for Bill Gates for a we know.

This sounds more like a fear mongering attempt by you!

benjyz
Full Member
***
Offline Offline

Activity: 140
Merit: 100


View Profile
February 07, 2014, 12:46:56 PM
Last edit: February 07, 2014, 01:02:14 PM by benjyz

Watch out INTERPOLs red notice list on Monday evening or Tuesday morning.
Requests (>1) are from the USA.

Was leaked by an well respected french IT security consultant in an private hacking-related chatroom.

So what does this mean?


Edit: actually financial fraud is a reason some notices are issued, but it seems there is plenty of stuff going on behind the scenes. this happened before in Europe, where banks/governments effectively attack an exchange to spur a bank-run.

Quote
Q1. What is causing the withdrawal delays?

Well, because Gox is the best known of all the exchanges, we have been under the regulatory spotlight.

This has created problems with government agencies, and also with our banking partners.
http://www.reddit.com/r/Bitcoin/comments/1x9gue/my_protest_at_mtgox_offices_5_to_7th_february/

info about interpol notices:

http://en.wikipedia.org/wiki/Interpol_notice

Currently 278 red notices outstanding, 160 issued by the US

http://www.interpol.int/notice/search/wanted
glerant
Sr. Member
****
Offline Offline

Activity: 565
Merit: 316



View Profile
February 07, 2014, 01:04:41 PM

After reading the story below (it was posted by someone in this thread) I realized one of the things that is mentioned is the problems that MtGox is having with the banks. What is the main reason why there is a back log in bitcoin trades is because the banks and governments have decided to not accept any money from MtGox anymore that they are holding them up.

http://www.reddit.com/r/Bitcoin/comments/1x9gue/my_protest_at_mtgox_offices_5_to_7th_february


I would take that story with a pinch of salt! The guy can jump on a 16 hour flight from Australia but can't be arsed to upload a 30 second video clip from Gox Lobby to YouTube! LMFAO!  Cheesy
AndersAA
Full Member
***
Offline Offline

Activity: 216
Merit: 100


View Profile
February 07, 2014, 01:23:15 PM

After reading the story below (it was posted by someone in this thread) I realized one of the things that is mentioned is the problems that MtGox is having with the banks. What is the main reason why there is a back log in bitcoin trades is because the banks and governments have decided to not accept any money from MtGox anymore that they are holding them up.

http://www.reddit.com/r/Bitcoin/comments/1x9gue/my_protest_at_mtgox_offices_5_to_7th_february


I would take that story with a pinch of salt! The guy can jump on a 16 hour flight from Australia but can't be arsed to upload a 30 second video clip from Gox Lobby to YouTube! LMFAO!  Cheesy

Good point Smiley A lot of creativity - very little documentation. Who jumps on a plane without an appointment? Does a trip from Australia to Japan really take 16 hours?
smoothrunnings
Hero Member
*****
Offline Offline

Activity: 616
Merit: 500


View Profile
February 07, 2014, 02:02:55 PM

After reading the story below (it was posted by someone in this thread) I realized one of the things that is mentioned is the problems that MtGox is having with the banks. What is the main reason why there is a back log in bitcoin trades is because the banks and governments have decided to not accept any money from MtGox anymore that they are holding them up.

http://www.reddit.com/r/Bitcoin/comments/1x9gue/my_protest_at_mtgox_offices_5_to_7th_february


I would take that story with a pinch of salt! The guy can jump on a 16 hour flight from Australia but can't be arsed to upload a 30 second video clip from Gox Lobby to YouTube! LMFAO!  Cheesy

Good point Smiley A lot of creativity - very little documentation. Who jumps on a plane without an appointment? Does a trip from Australia to Japan really take 16 hours?

Maybe the guys is one of the early investors of bitcoin that he's got a lot at stake, and flying out to Tokyo is just a drop in the bucket for him money wise. Not a lot of us are like that but some people are, and the ones who have had enough of MtGox BS I could see doing something like that.  Smiley
jeliman
Full Member
***
Offline Offline

Activity: 227
Merit: 125


View Profile WWW
February 07, 2014, 02:36:59 PM

hopefully Bistamp is not gonna have these kind of issues soon Undecided ....

angrynerd88
Sr. Member
****
Offline Offline

Activity: 686
Merit: 252


View Profile
February 07, 2014, 03:40:45 PM

hopefully Bistamp is not gonna have these kind of issues soon Undecided ....
do not even tell, all my savings are there.

Anyway, why there is no angry customer going to Japan to "meet" Mt gox rich nerds? if i were an mt gox customer i would do that. I want to see the face of who is stealing my money.
jeliman
Full Member
***
Offline Offline

Activity: 227
Merit: 125


View Profile WWW
February 07, 2014, 03:48:52 PM

hopefully Bistamp is not gonna have these kind of issues soon Undecided ....
do not even tell, all my savings are there.

Anyway, why there is no angry customer going to Japan to "meet" Mt gox rich nerds? if i were an mt gox customer i would do that. I want to see the face of who is stealing my money.

exactly, there must be reward on their heads allready.....Smiley

However why keeping your money with online broker? Just buy BTCs, transfer it to your (one or more) wallet(s) of your choice and when selling (for fiats) do the reverse and transfer fiats to you trusted bank account.

igorr
Sr. Member
****
Offline Offline

Activity: 406
Merit: 250


View Profile
February 07, 2014, 04:00:47 PM

MtGox is dead!

https://www.mtgox.com/press_release_20140207.html

Cлaвьcя, Oтeчecтвo нaшe cвoбoднoe,
Бpaтcкиx нapoдoв coюз вeкoвoй,
Пpeдкaми дaннaя мyдpocть нapoднaя!
Cлaвьcя, cтpaнa! Mы гopдимcя тoбoй!
matt4054
Legendary
*
Offline Offline

Activity: 1554
Merit: 1000


BitcoinQueue.com


View Profile WWW
February 07, 2014, 04:12:59 PM


Yes and more precisely, here's where they jumped the shark:

Quote
To understand the issue thoroughly, the system needs to be in a static state.

Snapshot anyone? Roll Eyes
MikeyVeez
Full Member
***
Offline Offline

Activity: 728
Merit: 100


DocTailor IEO on Zloadr


View Profile
February 07, 2014, 04:18:54 PM

If morons didn't figure out that mt gox is shady, what exchange or bank keeps limiting withdrawals? Ohh i know the ones who are having bank runs like Cyprus banks and about to go bankrupt.

THEY ARE NOT HAVING TECHNICAL DIFFICULTIES, they just don't have enough cash to support people withdrawing massive amounts of money.

disclaimer201
Legendary
*
Offline Offline

Activity: 1470
Merit: 1001


View Profile
February 07, 2014, 04:28:40 PM

Gox's fractional reserve system coming to an end finally. Buckle up.
Elwar
Legendary
*
Offline Offline

Activity: 2870
Merit: 1456


Viva Ut Vivas


View Profile WWW
February 07, 2014, 04:48:25 PM


Long live MtGox!

First seastead company actually selling seasteads: Ocean Builders https://ocean.builders  Of course we accept bitcoin.
Seastead talk at http://seasteadtalk.org
techniquev3
Newbie
*
Offline Offline

Activity: 11
Merit: 0


View Profile WWW
February 07, 2014, 04:59:05 PM

To hell with Gox, Localcoins is where it's at.
juju
Sr. Member
****
Offline Offline

Activity: 382
Merit: 250



View Profile
February 07, 2014, 05:13:32 PM

Could someone explain to me why Gox has a much higher price for BTC. Someone offered an explanation once that it was one of the only exchanges that Europe and Asia could use easily?

It was very enticing to sell my BTC on Gox and rebuy through other exchanges until I saw the monthly Withdrawal limits.
oscarg
Newbie
*
Offline Offline

Activity: 13
Merit: 0


View Profile WWW
February 07, 2014, 05:14:32 PM

This is just a thought...

... possible deep speculation, but can anyone join these dots up?

The arrest of The BitInstant CEO occurred on Feb 3rd, just before these other issues began with MtGox,
here is the MtGox press Release.

https://support.mtgox.com/entries/26563440-MtGox-Response-to-BitInstant-CEO-Arrest

It seems there has been an increase in regulatory pressure on MtGox since then (starting more or less exactly then).

I am not sure of the exact charges of the BitInstant CEO, or what his relationship to MtGox is, but is it possible there is a link between the BitInstant event and regulatory action against MtGox?

Any ideas? or am I way off?
bennybong
Hero Member
*****
Offline Offline

Activity: 682
Merit: 500



View Profile
February 07, 2014, 05:29:30 PM

This is just a thought...

... possible deep speculation, but can anyone join these dots up?

The arrest of The BitInstant CEO occurred on Feb 3rd, just before these other issues began with MtGox,
here is the MtGox press Release.

https://support.mtgox.com/entries/26563440-MtGox-Response-to-BitInstant-CEO-Arrest

It seems there has been an increase in regulatory pressure on MtGox since then (starting more or less exactly then).

I am not sure of the exact charges of the BitInstant CEO, or what his relationship to MtGox is, but is it possible there is a link between the BitInstant event and regulatory action against MtGox?

Any ideas? or am I way off?

Well they did say there are some ongoing investigations that they can't comment on... I wouldn't be surprised if the shit is going to hit the fan for them very soon. I don't care, I just want my btc!
sikke
Sr. Member
****
Offline Offline

Activity: 378
Merit: 250


View Profile
February 07, 2014, 05:38:49 PM

Fiat deposits work to gox? Maybe can buy some btc when it hits 100$
jongameson
Member
**
Offline Offline

Activity: 84
Merit: 10


View Profile
February 07, 2014, 05:41:11 PM

cause when i think bitcoins I think of Magic: The Gathering
tvbcof
Legendary
*
Offline Offline

Activity: 2968
Merit: 1043


View Profile
February 07, 2014, 05:50:55 PM

This is just a thought...

... possible deep speculation, but can anyone join these dots up?

The arrest of The BitInstant CEO occurred on Feb 3rd, just before these other issues began with MtGox,
here is the MtGox press Release.

https://support.mtgox.com/entries/26563440-MtGox-Response-to-BitInstant-CEO-Arrest

It seems there has been an increase in regulatory pressure on MtGox since then (starting more or less exactly then).

I am not sure of the exact charges of the BitInstant CEO, or what his relationship to MtGox is, but is it possible there is a link between the BitInstant event and regulatory action against MtGox?

Any ideas? or am I way off?

Well they did say there are some ongoing investigations that they can't comment on... I wouldn't be surprised if the shit is going to hit the fan for them very soon. I don't care, I just want my btc!

I've no doubt that Shrem's (hours long) incarceration is not an insignificant part of the story, but Mark has been saying that he cannot say anything about anything for a long time now.  Almost as if he was under a gag order of some sort...

The big shift I saw came at the time the Coinlab deal fell through and came to a head.

Vesseness (who continues as the chairman of the board of the Bitcoin Foundation BTW) is well aware of the wealth of data that Mt. Gox has, and is also favorably disposed toward coin tracking and blacklisting.  Even retro-actively and even just by virtue of using a mixing service at all.  He made that abundantly clear at the SJ 2013 conference and warned against using any mixing service for this reason.

If I had to pick the top most likely 'business' to have been started from scratch by some state organ for the purposes of 'disrupting' Bitcoin, it would be Coinlab.  If this is the case, the failure to acquire Mt. Gox's books must have been a truly infuriating setback and could have triggered a robust response...including but not limited to the appropriation of Marks $5M + $5M.


thethingis
Newbie
*
Offline Offline

Activity: 25
Merit: 0


View Profile
February 07, 2014, 06:11:02 PM

cause when i think bitcoins I think of Magic: The Gathering

I propose we ignore their "Mt.Gox" rebranding efforts and insist on calling them "Magic: The Gathering Online eXchange" in full.

This will reinforce to potential customers that they're really just a video game trading card circle jerk.

Trust-based exchanges need to die. There are alternatives.
CryptoVortex
Newbie
*
Offline Offline

Activity: 34
Merit: 0


View Profile
February 07, 2014, 06:48:32 PM

Could someone explain to me why Gox has a much higher price for BTC. Someone offered an explanation once that it was one of the only exchanges that Europe and Asia could use easily?

LOL.  I'm curious who offered this explanation.  The price at Gox is higher, because withdrawing fiat is more difficult at Gox than at the most reputable exchanges.  "USD" in your Gox account were, in effect, worth less than USD in an account that you could withdraw with confidence and without undue delay.  

This is why the sudden drop in the price premium between MtGox and other exchanges over the past 48 hours is so troubling.  It's not because "Gox USD" are worth more than they were last week; evidently "Gox BTC" are now worth less than real BTC, because people are no longer confident that they will be able to move their bitcoin out of MtGox.
gog1
Hero Member
*****
Offline Offline

Activity: 756
Merit: 500


View Profile
February 07, 2014, 06:53:34 PM

for the advancement of bitcoin, mtgox need to fold
hpitcher
Member
**
Offline Offline

Activity: 114
Merit: 10


View Profile
February 07, 2014, 07:36:22 PM

looks like some issues with coinbase too Someone is getting rich.
http://gizmodo.com/hackers-have-stolen-40-000-from-bitcoins-biggest-wall-1518184070
CryptoPanda
Sr. Member
****
Offline Offline

Activity: 420
Merit: 250


View Profile WWW
February 07, 2014, 09:54:16 PM

They are seriosly messing up the price for second time now, i think it's time for them to go.
Hopefully circle will open soon.

seriouscoin
Hero Member
*****
Offline Offline

Activity: 658
Merit: 500


View Profile
February 07, 2014, 09:59:54 PM

looks like some issues with coinbase too Someone is getting rich.
http://gizmodo.com/hackers-have-stolen-40-000-from-bitcoins-biggest-wall-1518184070

Its unrelated. And its a user error, not the same thing. Stop posting crap that you cant read idiot
User705
Legendary
*
Offline Offline

Activity: 980
Merit: 1006


View Profile
February 08, 2014, 12:44:36 AM

If you ask me their claim is nothing but an attempt to buy more time.

If they can stop BTC withdrawals that stops their "bank" from becoming insolvent in the short-term.
One possibility is that it's an attempt to drive the price below other exchanges in order to attract more fiat once the "technical difficulties" magically resolve themselves.
It is now below other exchanges.  If one were prone to tinfoil hat theories one could think that previously mtgox was intentionally not letting out fiat in order to self deal by buying XBT elsewhere and selling for a large premium or perhaps even selling XBT they never had.  Once the rush died down and it was time to deliver the XBT they don't have, they simply froze XBT withdrawals and will now start buying back for their own accounts at prices below other exchanges.  It wouldn't be a big surprise if prices on Gox go significantly below other exchanges for a while that the XBT withdrawal problems will magically resolve themselves.

hello, world!
smoothie
Legendary
*
Offline Offline

Activity: 2128
Merit: 1018


LEALANA Monero Physical Silver Coins


View Profile
February 08, 2014, 01:59:16 AM

It sure sounds like MTGOX is insolvent: http://www.reddit.com/r/Bitcoin/comments/1x9gue/my_protest_at_mtgox_offices_5_to_7th_february/

███████████████████████████████████████

            ,╓p@@███████@╗╖,           
        ,p████████████████████N,       
      d█████████████████████████b     
    d██████████████████████████████   
  ,█████████████████████████████████, 
 ,█████  ╙████████████████████╨  █████y
 ██████    `████████████████`    ██████
║██████       ███████████`      ███████
███████         ╩██████         ███████
███████    ▐▄     ██╩     a▌    ███████
╢██████    ▐▓█▄          ▄█▓▌    ███████
 ██████    ▐▓▓▓▓▌,     ▄█▓▓▓▌    ██████─
           ▐▓▓▓▓▓▓█,,▄▓▓▓▓▓▓▌          
           ▐▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▌          
    ▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓─  
     ▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓╩    
        ▀▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▀       
           ▀▀▓▓▓▓▓▓▓▓▓▓▓▓▀▀`          
                                    
███████████████████████████████████████

. ★☆ WWW.LEALANA.COM        My PGP fingerprint is A764D833.                  History of Monero development Visualization ★☆ .
LEALANA  PHYSICAL MONERO COINS 999 FINE SILVER.
 
dissident
Sr. Member
****
Offline Offline

Activity: 280
Merit: 250


View Profile
February 08, 2014, 02:05:02 AM

what a great scam though... to run off with all those BTC and be essentially untraceable.
disclaimer201
Legendary
*
Offline Offline

Activity: 1470
Merit: 1001


View Profile
February 08, 2014, 03:00:55 AM

what a great scam though... to run off with all those BTC and be essentially untraceable.

Yep, the money may be untraceable. Mark Karpeles is not. I hope he will face some judicial consequences.
Artlover
Full Member
***
Offline Offline

Activity: 149
Merit: 100


View Profile
February 08, 2014, 03:01:07 AM

I propose we ignore their "Mt.Gox" rebranding efforts and insist on calling them "Magic: The Gathering Online eXchange" in full.

This will reinforce to potential customers that they're really just a video game trading card circle jerk.
Hahahahaha. Quoted because this is just to funny to let get lost in the thread!
Kiah07
Newbie
*
Offline Offline

Activity: 22
Merit: 0


View Profile
February 08, 2014, 03:16:03 AM

So I'm guessing we're not getting litecoin integration?   Grin
gollum
Sr. Member
****
Offline Offline

Activity: 434
Merit: 250


In Hashrate We Trust!


View Profile
February 08, 2014, 03:22:55 AM

Mt Gox in a nutshell:

-You can deposit BTC or fiat
-You can trade BTC vs Fiat
-You CANT withdraw BTC or fiat

so you are basically trading with playomoney and the real BTC and fiat is going to some other account?

Feels like kind of ponzi scheme to me...
papamoi
Sr. Member
****
Offline Offline

Activity: 378
Merit: 250


View Profile
February 08, 2014, 03:30:53 AM

so when they are bankrupting officialy?Huh
TheDailyBitcoin
Newbie
*
Offline Offline

Activity: 14
Merit: 0



View Profile WWW
February 08, 2014, 03:58:24 AM

I wrote a whole article about this.

http://www.thedailycrypto.com/2014/02/mt-gox-halting-all-withdrawls-bitcoin.html

I really think we need to start up some new exchanges....
seriouscoin
Hero Member
*****
Offline Offline

Activity: 658
Merit: 500


View Profile
February 08, 2014, 04:01:19 AM

I wrote a whole article about this.

http://www.thedailycrypto.com/2014/02/mt-gox-halting-all-withdrawls-bitcoin.html

I really think we need to start up some new exchanges....

Step 1. Move out of US
Step 2. Discard your US citizenship
Step 3. ...
gollum
Sr. Member
****
Offline Offline

Activity: 434
Merit: 250


In Hashrate We Trust!


View Profile
February 08, 2014, 04:07:41 AM

LOL for the first time ever 1 BTC is more expensive at BTC-E than MtGox!

MtGox: 665 USD
BTC-e:  700 USD

It could mean that people are selling their bitcoins at mtgox to withdraw their fiat money, if they are lucky.
seriouscoin
Hero Member
*****
Offline Offline

Activity: 658
Merit: 500


View Profile
February 08, 2014, 04:11:16 AM

LOL for the first time ever 1 BTC is more expensive at BTC-E than MtGox!

MtGox: 665 USD
BTC-e:  700 USD

It could mean that people are selling their bitcoins at mtgox to withdraw their fiat money, if they are lucky.

This "crash" brings a good cause.... GOX is DONE for good.
I say, fck them. And if Mark is smart, he better have facial surgery and change his name.
Tzakato
Newbie
*
Offline Offline

Activity: 17
Merit: 0


View Profile
February 08, 2014, 10:06:54 AM

Just looked at BitcoinAverage, MtGox still holds 33% of the BTC/USD and 55% of the BTC/EUR market volume. Either people are really dumb or just trading like crazy because they know they won't see their money back anyway. Hopefully this will be less soon.
freebitcoinwin
Newbie
*
Offline Offline

Activity: 42
Merit: 0


View Profile
February 08, 2014, 11:33:38 AM

Anybody was able to withdraw from Mt.Gox
Test User
Member
**
Offline Offline

Activity: 86
Merit: 10

Miner and technician


View Profile
February 08, 2014, 12:00:04 PM

Here's a possible explanation as to the "technical" issues that MtGox has been suffering.

http://www.reddit.com/r/Bitcoin/comments/1x93tf/some_irc_chatter_about_what_is_going_on_at_mtgox/

In short, Mt Gox wrote their own custom wallet software, which only worked because of a bug in early versions of bitcoin. The bug was fixed in a recent release. This would cause transactions sent from Gox to fail.

A group of people, thinking that they were being helpful set up relay servers that would take the transactions from Gox, fix them to work around the bug, and then rebroadcast the fixed transactions. The transactions could reuse the same signature (as they were the same transaction), but would be allocated a new TxID.

A second bug in Gox's wallet meant that their wallet client only checked it's own TxIDs, and never scanned the blockchain for other TxIDs on its coins. As a result, it is possible that the wallet ran dry, but the actual wallet client didn't notice, and transactions would block because of attempted double-spend.



Donations welcome - BTC: 1f52PwRLHkN4w5uBY6EccKiDYqpLkh13y     DOGE: DCg65AKPG76X5LEtWCqfyRj4a6apYRHR8j
Trust: https://bitcointalk.org/index.php?topic=432215.0
AndersAA
Full Member
***
Offline Offline

Activity: 216
Merit: 100


View Profile
February 08, 2014, 12:54:37 PM

Here's a possible explanation as to the "technical" issues that MtGox has been suffering.

http://www.reddit.com/r/Bitcoin/comments/1x93tf/some_irc_chatter_about_what_is_going_on_at_mtgox/

In short, Mt Gox wrote their own custom wallet software, which only worked because of a bug in early versions of bitcoin. The bug was fixed in a recent release. This would cause transactions sent from Gox to fail.

A group of people, thinking that they were being helpful set up relay servers that would take the transactions from Gox, fix them to work around the bug, and then rebroadcast the fixed transactions. The transactions could reuse the same signature (as they were the same transaction), but would be allocated a new TxID.

A second bug in Gox's wallet meant that their wallet client only checked it's own TxIDs, and never scanned the blockchain for other TxIDs on its coins. As a result, it is possible that the wallet ran dry, but the actual wallet client didn't notice, and transactions would block because of attempted double-spend.


Yeah, even though Gox will have a hard time regaining the trust lost over the past months, I'm at 70-80% that this issue is indeed mostly a technical one. It seems plausible - though the resulting chaos might turn a stumble into a fall.

Also the "simple" explanation seems to be that transactions with multiple inputs are more likely to run into a double-spend and not being relayed to the blockchain. It's kinda obvious if this is what's going on - when a 1BTC withdrawal from Gox draws from 50 addresses it is much more likely that the withdrawal will fail due to one of the inputs already used on the blockchain. This doesn't mean Gox doesn't have 1BTC - it just means Gox doesn't have 1BTC on the address it thought it did.
I just don't get why they haven't unforked their crappy spinoff yet. It'll cost them millions in bad PR.

When under pressure it's always better to use something tested as the core and build on top of that. In IS development it is ALWAYS better and cheaper to do it right the first time around.
Ilsk
Legendary
*
Offline Offline

Activity: 827
Merit: 1001



View Profile
February 08, 2014, 03:12:29 PM

The only good thing about this situation is that now Mtgox is the most secure wallet in the world, in fact it is 100%impossible for an hacker to take your money from your gox wallet.

I think I am going to put all of my btc on gox right now, I love such a level of security.
BitAddict
Legendary
*
Offline Offline

Activity: 1190
Merit: 1001



View Profile
February 08, 2014, 03:39:56 PM

The only good thing about this situation is that now Mtgox is the most secure wallet in the world, in fact it is 100%impossible for an hacker to take your money from your gox wallet.

I think I am going to put all of my btc on gox right now, I love such a level of security.

Not that secure if they already stole the coins   Undecided