Mt.Gox SCAM? $38million disappeared. Large sums affected.

[igorr]

Bitstamp is the next ?

[1714160617]

1714160617

[1714160617]

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[raspcoin]

Bitstamp is the next ?

I have always been of the opinion that BTC-e is the most transparent of the big three. They may be shady and difficult to reach, but I have never experienced any "maintenance problems" with their cryptocurrency withdrawals. Bank withdrawals is another matter, but that is not really their fault.

[igorr]

MtGox 111 usd, and what will happen when of these 500,000 Bitcoin comes to Bitstamp I can only imagine.   


View Screen Capture

[halcyon]

we really need a solid exchange now that gox and bitstamp are both failing with regard to hassle-free withdrawals.

[pleiotropik]

When M.K finally manages to get btc to $10usd he'll come up and say that the company can't do biz anymore and that all customers are urged to redeem their btc for fiat-usd. If anyone for one second thinks that the price at Gox is anything but the price that M.K. wants i have ten brooklyn bridges and 5 trusted ponzi schemes on sale for them. one thing i have to concede to K. is that The wolf of Gox Street is relentless.

[boumalo]

we really need a solid exchange now that gox and bitstamp are both failing with regard to hassle-free withdrawals.

There are a few theories circulating about the mtgox fiasco, it is certain that there is way more behind the scene that what we know; conspiracy theories always work and most of them are not true but this fiasco looks too shady not to have been a bit orchestrated by someone

It doesn't mean it has been orchestrated by mister K or gox, and maybe it wasn't orchestrated but people are taking advantage of the situation

[Thibaut]

Is it possible to estimate how profitable is the crisis for MtGox?

On a graph with a scale of 1 day per candlestick, I count a volume of about 650,000 BTC from the first big drop to now. Let us consider an average fee of 0.30% and keep in mind that it is paid by both buyers and sellers.
2x0.0030 x 650,000 = 3,900 BTC.

The average price being $500 over this period, their profit would reach 3900x500 = $2,000,000 !?

[corsaro]

Is it possible to estimate how profitable is the crisis for MtGox?

On a graph with a scale of 1 day per candlestick, I count a volume of about 650,000 BTC from the first big drop to now. Let us consider an average fee of 0.30% and keep in mind that it is paid by both buyers and sellers.
2x0.0030 x 650,000 = 3,900 BTC.

The average price being $500 over this period, their profit would reach 3900x500 = $2,000,000 !?

some light on the orizon for gox
http://www.reddit.com/r/Bitcoin/comments/1ymb4r/some_light_on_the_horizon_for_gox/

I've been watching the mtgox transaction stream for the last hour (https://data.mtgox.com/api/0/bitcoin_tx.php) and it seems transactions are going through. You can check for yourself, download a copy of the output on that link, check again 10-15 minutes later and you'll see that some transactions are missing. If you enter the missing transaction IDs on the blockchain, you can see they went through. Here are some I found:
https://blockchain.info/ntxid/2bf78fb8e8765ee8dc1224e74739f60c1a3e50515a41792fc6862aeeb95ab568 https://blockchain.info/ntxid/ad86f98e259314cf53eb242c18d92cc7aefcc73f36d824bfe96ca8ec0dd51317 https://blockchain.info/ntxid/057457615c3f1bd9adee741265e11b08041f0fdf768fb40000ad3dc7c0da4e80
Add to that the reports that some users have received their $5k - $10k withdrawals initiated in early January, I'd say that thing are looking up :-)

[DaFockBro]

He spent the 38 million on Kopi Luwak, the most expensive coffee in the world!

[gollum]

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#

Seems like my analysis was very accurate.
I believe the current price of 300$ at MtGox is a "dead cat bounce" and the price of 500-600 at other exchanges is a bubble.
All bitcoin exchanges will trade at 100$ for several months, during spring/summer 2014.

/Gollum told you so!

[StarfishPrime]

However this current (mostly manufactured) 'crisis' plays out, it's clear that mtgox's potential to profit from it has been huge. It's highly unlikely that they have not leveraged the situation to their financial advantage somehow.

What's almost certain however is that any funds they have left, even after this latest in a string of ongoing fiascos, will never cover the existing and upcoming lawsuits to be filed against them.

MtGox is dead, whether they know it or not. They can never rebuild the confidence they've lost at this point.

[st4nl3y]

apparently mtgox confirmed they received the fix from the blockchain.info for the " broken bitcoin protocol" as they claimed, so there must be another reason for this hold up.

[Phinnaeus Gage]

He spent the 38 million on Kopi Luwak, the most expensive coffee in the world!

Not any more! Now, the most expensive coffee in the world is Karpeles Goxeles, brewed from the excretions of the elusive Mark Karpeles after consuming Kopie Luwak a few hours earlier. The first known cup brewed was smeared on the bodies of Long Dong Johnson and Skropenis, each on the other, recorded live, but never broadcasted, on Only One TV.

[Artlover]

received the fix

You mean received a work around from a 3rd party that allows them to continue misusing the bitcoin protocol because doing things the correct way is too hard for them.

so there must be another reason for this hold up.

Yeah. They are an insolvent ponzi scam, and trying to hide it.

[DaFockBro]

He spent the 38 million on Kopi Luwak, the most expensive coffee in the world!

Not any more! Now, the most expensive coffee in the world is Karpeles Goxeles, brewed from the excretions of the elusive Mark Karpeles after consuming Kopie Luwak a few hours earlier. The first known cup brewed was smeared on the bodies of Long Dong Johnson and Skropenis, each on the other, recorded live, but never broadcasted, on Only One TV.

Hahaha shit-coffee made from shit-coffee shit

[jedisurfer]

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..

same thing happened at Full Tilt Poker.  They paid themselves with user deposits.  Definitely not hacked

[Phinnaeus Gage]

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..

same thing happened at Full Tilt Poker.  They paid themselves with user deposits.  Definitely not hacked

Beat you to it!

Daniel Negreanu Goes Apeshit On Mt Gox

[shadyz]

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..

same thing happened at Full Tilt Poker.  They paid themselves with user deposits.  Definitely not hacked

Beat you to it!

Daniel Negreanu Goes Apeshit On Mt Gox

Yeah, how were they paying their own salaries... with which money? Our money.

[JavaCoder]

Bitstamp is the next ?

http://i57.tinypic.com/2nn804.jpg

How about SecondMarket?

[shadyz]

Bitstamp is the next ?

How about SecondMarket?

Does bistamp dissalow withdrawals?