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Author Topic: Mt.Gox SCAM? $38million disappeared. Large sums affected.  (Read 37705 times)
murraypaul
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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.

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SRC: scefi1XMhq91n3oF5FrE3HqddVvvCZP9KB
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CryptoCurrencyInc.com
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February 06, 2014, 01:31:07 PM
 #62

Panic sell happening?

                                                                               
                 
                                                       ╓▄▌██P                   
                                                 ╔▄▌███▀███▌                   
                                           ▄▄▌██▀▀╚  ╓██╩██                     
                                     ▄▄███▀▀╙      ▄██  ▓█                     
                               ▄▌███▀▀+          ▄█▀   ▐█                       
                        ,▄▌███▀▀¬              ▓█▀     █▄                       
                  ,▄▌███▀▀                  ,██▀      █▌                       
               '█████▌▄▄,                 ╓██╩       ██                         
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                        ▀██▄        ▓█▀██          █▀                           
                           ▀██▄  ,██▀   █µ        ██                           
                              ▀███Z     ██       ██                             
                                ▐██     ▐█      ▄█                             
                              ,,╓╓█▓▄▌   █▌    ▐█U                             
                        º▄▓▓▓▓▓▓▓▓▓███   ▀█    █▌                               
                          ▀█▓▓▓▓▓████▀█▌  █▌  ██                               
                            ▀███████▌  ▀█µ▀█ ██                                 
                              ▀█████     ███▓█                                 
                                ▐███      ▀██Ñ                                 
                                            ▀                             

superresistant
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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
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February 06, 2014, 01:58:50 PM
 #64

And Price drops...like it always does when something happens to MtGox.
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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
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February 06, 2014, 02:30:23 PM
 #66

BTC quickly losing popularity.

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Cлaвьcя, Oтeчecтвo нaшe cвoбoднoe,
Бpaтcкиx нapoдoв coюз вeкoвoй,
Пpeдкaми дaннaя мyдpocть нapoднaя!
Cлaвьcя, cтpaнa! Mы гopдимcя тoбoй!
bennybong
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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
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February 06, 2014, 02:44:06 PM
 #68

Amazing that people prefer to withdraw BTC instead of USD.
benjyz
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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
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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 ...
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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.
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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
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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?
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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
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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
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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
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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
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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
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February 06, 2014, 06:41:21 PM
 #79

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

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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...
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