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Author Topic: MtGox's DEATH - Bitcoin headed towards darkness?  (Read 8094 times)
superduh
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February 08, 2014, 07:09:57 PM
 #21

your post seems awfully full of doom and gloom. you could have written in a non-biased way, right?

ok
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BitEscrow
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February 08, 2014, 07:10:34 PM
 #22

MtGox became a epic joke long time ago and only greed and stupidity forced people to trade there or send any coin/fiat into this black hole.
MtGox has been operating as one big mixer - closed system with no exit for fiat or BTC.

Interesting where did the coin go and if coin is really gone, how did they manage to lose it?

 Makes sense, hope it doesn't turn out to be a huge ponzi.
superduh
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February 08, 2014, 07:12:22 PM
 #23

It is actually a technical glitch. A serious one, but I don't think they've run out of bitcoins, they've just been forced to stop withdrawals until they fix their software, it was doing withdrawals wrong & some people may have exploited that. They probably lost some bitcoins as a result, hopefully they can afford to replace them.

It's not going to kill bitcoin, there are plenty of other exchanges. If you put your life savings into bitcoin then you're a fool. It's gambling, only bet money you can afford to lose.

Again, Do you really think they can fix a REAL technical issue in just 2 days? If they were this competent, wouldn't they have fixed it a long time ago?

gox usually fixes all the issues they've had over the years.. what's your point. this time it's "different" . jeez the fudsters. if it's a technical issue and the coins are still there things will be fixed. quite simple

ok
daserpent1
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February 08, 2014, 07:23:33 PM
 #24

You are obviously being a big troll lately...

You've already said...

I hold no bitcoins or any other coin for that matter anymore. I sold all the coins and wanna get out of this f**ked up scene.... And i really think its not going good the way it is going.

https://bitcointalk.org/index.php?topic=453230.msg4997987#msg4997987


If you don't actually own any Bitcoins and don't want to be in the f**ked scene, then stop being involved by posting FUD.
Unless you're trying to drive down the price, all your latest posts seem to suggest that.

What FUD? My withdrawal has been stuck with gox for a long time. I am fucking sad here and you think I am trolling? Dude, if you cannot feel others' pains, then don't say anything at all.
daserpent1
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February 08, 2014, 07:25:43 PM
 #25

It is actually a technical glitch. A serious one, but I don't think they've run out of bitcoins, they've just been forced to stop withdrawals until they fix their software, it was doing withdrawals wrong & some people may have exploited that. They probably lost some bitcoins as a result, hopefully they can afford to replace them.

It's not going to kill bitcoin, there are plenty of other exchanges. If you put your life savings into bitcoin then you're a fool. It's gambling, only bet money you can afford to lose.

Again, Do you really think they can fix a REAL technical issue in just 2 days? If they were this competent, wouldn't they have fixed it a long time ago?

gox usually fixes all the issues they've had over the years.. what's your point. this time it's "different" . jeez the fudsters. if it's a technical issue and the coins are still there things will be fixed. quite simple

And if it really is a technical issue that they can solve, then why did they release an official statement only after so many people started asking them questions on friday?

Why couldn't they just have released a press release a long time ago stating they are facing problems so they would like to stop withdrawals temporarily.
Benson Samuel
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February 08, 2014, 07:30:57 PM
 #26

You are obviously being a big troll lately...

You've already said...

I hold no bitcoins or any other coin for that matter anymore. I sold all the coins and wanna get out of this f**ked up scene.... And i really think its not going good the way it is going.

https://bitcointalk.org/index.php?topic=453230.msg4997987#msg4997987


If you don't actually own any Bitcoins and don't want to be in the f**ked scene, then stop being involved by posting FUD.
Unless you're trying to drive down the price, all your latest posts seem to suggest that.

What FUD? My withdrawal has been stuck with gox for a long time. I am fucking sad here and you think I am trolling? Dude, if you cannot feel others' pains, then don't say anything at all.


What happens if everything is fine on Monday?
Wait for it. Stop spreading panic. Many people here have funds stuck there.

daserpent1
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February 08, 2014, 07:33:25 PM
 #27

You are obviously being a big troll lately...

You've already said...

I hold no bitcoins or any other coin for that matter anymore. I sold all the coins and wanna get out of this f**ked up scene.... And i really think its not going good the way it is going.

https://bitcointalk.org/index.php?topic=453230.msg4997987#msg4997987


If you don't actually own any Bitcoins and don't want to be in the f**ked scene, then stop being involved by posting FUD.
Unless you're trying to drive down the price, all your latest posts seem to suggest that.

What FUD? My withdrawal has been stuck with gox for a long time. I am fucking sad here and you think I am trolling? Dude, if you cannot feel others' pains, then don't say anything at all.


What happens if everything is fine on Monday?
Wait for it. Stop spreading panic. Many people here have funds stuck there.

Benson, I am more panicked than most people here. I have a lot of money stuck with gox and I have also lost a lot already. So, don't think that i am trying to spread panic.

I am only trying to see what people think will happen if gox shuts down. Will the price hold steady like after SR takedown or would it plummet?
FandangledGizmo
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February 08, 2014, 07:34:53 PM
 #28

You are obviously being a big troll lately...

You've already said...

I hold no bitcoins or any other coin for that matter anymore. I sold all the coins and wanna get out of this f**ked up scene.... And i really think its not going good the way it is going.

https://bitcointalk.org/index.php?topic=453230.msg4997987#msg4997987


If you don't actually own any Bitcoins and don't want to be in the f**ked scene, then stop being involved by posting FUD.
Unless you're trying to drive down the price, all your latest posts seem to suggest that.

What FUD? My withdrawal has been stuck with gox for a long time. I am fucking sad here and you think I am trolling? Dude, if you cannot feel others' pains, then don't say anything at all.


Yes FUD.  Suddenly now it's about your coins being stuck...

But you call this thread 'Bitcoin headed to darkness' & one of your last ones 'Is this the end'

Where you posted as much FUD as you could find even though half of it was false or out of date..

For the people that are not aware yet,

Russia banned bitcoins :: http://rt.com/business/bitcoin-russia-use-ban-942/

China banned bitcoins :: http://www.bloomberg.com/news/2013-12-05/china-s-pboc-bans-financial-companies-from-bitcoin-transactions.html

Apple removes all BTC apps :: http://www.telegraph.co.uk/technology/apple/10621175/Apple-bans-final-bitcoin-wallet-from-App-Store.html

Indonesia Bans bitcoins :: http://www.thejakartaglobe.com/business/bitcoins-neither-currency-nor-legal-paymen-tools-in-indonesia-central-bank/

India shuts down all BTC exchanges :: http://www.thehindu.com/business/Industry/bitcoin-exchanges-shut-shop-in-india/article5504407.ece

Thailand bans bitcoins :: http://www.cnbc.com/id/100923551

USA in final stages of banning bitcoins :: http://www.zerohedge.com/news/2013-05-15/us-government-begins-bitcoin-crackdown

France issued warning against bitcoins :: http://www.reuters.com/article/2013/12/05/us-france-bitcoin-idUSBRE9B40IF20131205

Korea rejected bitcoin legalising bill :: http://thenextweb.com/asia/2013/12/10/korea-becomes-the-latest-asian-country-to-reject-bitcoin-as-a-legitimate-currency/

Alibaba withdraws BTC support :: http://www.bloomberg.com/news/2014-01-08/bitcoin-banned-by-alibaba-s-taobao-after-china-tightens-rules.html

Mtgox scams $38 million from users :: http://falkvinge.net/2014/02/04/major-bitcoin-exchange-not-executing-withdrawals-now-owes-clients-38m-in-disappeared-money/

Mtgox OFFICIALLY stops all withdrawals :: https://www.mtgox.com/press_release_20140207.html

And the mining difficulty is going up every hour... making it almost IMPOSSIBLE TO MAKE PROFIT by mining.

Is this where it all ends? Is this where all hope dies? Does the bitcoin "bubble" burst now?


YOU ARE THE DEFINITION OF FUD


Operatr
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February 08, 2014, 07:36:24 PM
 #29

I don't think it matters much, centralized exchanges will be phased out soon enough anyway with projects like Ethereum, NXT, Mastercoin, and others exactly because of these kinds of issues with central exchanges.

Gox had a good run and will always be noted as the first of its kind, but its time for it to die as it is doing more harm than good anymore to the bitcoin economy.

daserpent1
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February 08, 2014, 07:37:27 PM
 #30

Call it whatever you want man, Me and a lot of others have our money stuck with gox. You won't feel the stress that I am feeling right now if you have no money stuck with gox.

People are flying to Gox's office japan to get their coins man! You just don't get it.
daserpent1
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February 08, 2014, 07:38:21 PM
 #31

I don't think it matters much, centralized exchanges will be phased out soon enough anyway with projects like Ethereum, NXT, Mastercoin, and others exactly because of these kinds of issues with central exchanges.

Gox had a good run and will always be noted as the first of its kind, but its time for it to die as it is doing more harm than good anymore to the bitcoin economy.

Yes, Old things have to die for new & better things to take its place.
Benson Samuel
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February 08, 2014, 07:39:00 PM
 #32

You are obviously being a big troll lately...

You've already said...

I hold no bitcoins or any other coin for that matter anymore. I sold all the coins and wanna get out of this f**ked up scene.... And i really think its not going good the way it is going.

https://bitcointalk.org/index.php?topic=453230.msg4997987#msg4997987


If you don't actually own any Bitcoins and don't want to be in the f**ked scene, then stop being involved by posting FUD.
Unless you're trying to drive down the price, all your latest posts seem to suggest that.

What FUD? My withdrawal has been stuck with gox for a long time. I am fucking sad here and you think I am trolling? Dude, if you cannot feel others' pains, then don't say anything at all.


What happens if everything is fine on Monday?
Wait for it. Stop spreading panic. Many people here have funds stuck there.

Benson, I am more panicked than most people here. I have a lot of money stuck with gox and I have also lost a lot already. So, don't think that i am trying to spread panic.

I am only trying to see what people think will happen if gox shuts down. Will the price hold steady like after SR takedown or would it plummet?

Well mate, Mt Gox is not Bitcoin.
Anyone who had held funds in a 'web' wallet, were well warned.

Nothing, in any of your posts have been as soft as
Quote
I am only trying to see what people think will happen if gox shuts down. Will the price hold steady like after SR takedown or would it plummet?

Most of the posts that you have made today have been all about running down a street screaming that the world is coming to an end cos an acorn fell on your head.

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February 08, 2014, 07:50:08 PM
 #33

"never invest more than you're willing to loose" that's true for penny stocks, futures... and even more true for unregulated crypto currencies
daserpent1
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February 08, 2014, 07:56:32 PM
 #34

"never invest more than you're willing to loose" that's true for penny stocks, futures... and even more true for unregulated crypto currencies

Yes i guess thats where me and a lot of other people went wrong Sad

Btw coindesk published an article about gox death http://www.coindesk.com/mt-gox-first-bitcoin-exchange-dead/
Bit_Happy
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February 08, 2014, 08:06:14 PM
 #35

You seem to live off of poorly spun FUD/doom/darkness/"IT's SO BAD" threads.
>>> Do you think your sig sponsor really wants to pay for negative "spin" that is sometimes outright LIES?  (like here at this link)


...and your current piece of "work":
As we all know by now, mtgox is in big trouble. They say they will release a new statement on 10th Feb 2014, which most likely would be "we have sent all the stuck bitcoins back, but fiat withdrawals still won't go through".

What if, none of the future btc withdrawals don't work either? And mtgox finally admits to going belly up, like 2 months later?

What would happen when mtgox finally admits that it is in big trouble and can't serve us anymore? Would the bitcoin prices fall sharply AGAIN? Or would the prices hold steady (because its not like all exchanges will shutdown).

What I personally think will happen on Monday is, mtgox will release the "stuck" bitcoins back to the owners, and the respective owners will again try to withdraw all their btc holdings because not a lot of people trust mtgox anymore. And what happens when mtgox again receives thousands of withdrawal requests on monday? The coins get "stuck" again (i.e. if it indeed is a technical issue)!

Do you really think that they can fix a REAL technical issue in just 2 days ? If they were that competent, wouldn't they have fixed the technical glitch a long time ago?

I have some money held up with mtgox, and I really do hope that i do get my coins back, but I like to live in the reality. I know, there is something BIG going on inside mtgox - Either they are keeping the coins for themselves as part of an elaborate ponzi scheme OR they are in big trouble with the authorities and hence, can't release any coins until the authorities let them do so.

Either way, this DOES NOT LOOK GOOD...


I'm not saying sig sponsors should limit our freedom of speech; I am saying they have the right to not pay for slime like this
  • If you are honest (yeah right), and really this negative, then why don't you take some time off from posting?
Like a year or two.   Cheesy

leoragraves666
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February 08, 2014, 08:08:36 PM
 #36

Gox has been dieing for some time now, what we really need now is one new exchange, and let gox RIP.

PC & Mac repairs
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February 08, 2014, 08:08:47 PM
 #37

There is some speculation that MtGox does not have adequate BTC on hand to cover a significant volume of bitcoin wallet withdrawals.

By halting withdrawals it buys them time to (among other things) either; a.) increase their bitcoin balance, b.) come up with another excuse not to give customers access to their bitcoins, or c.) hope that this 2-day delay will somehow slow the bleeding once they re-enable withdrawals on Monday.  
d.)  Buy back the bitcoins at a now much lower price.  
Is it really out of the realm of possibilities that before when the price was 15-20% higher then other exchanges that they didn't sell XBT they never actually owned!  Once customers wanted those XBT, they simply stopped paying out and are now actively buying them all back at a 30%+ discount.  Give it some time with gox price much lower then other exchanges and watch how magically the "technical issues" will resolve themselves.
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February 08, 2014, 08:22:46 PM
 #38

 Roll Eyes Yes people like "customers" in mtgox are noobs... very very very noobs to let BTC on a virtual account.
It's stupid (when i have choose a plateform, i have verified that i can retrieve ALWAYS me BTC... after by with fiat transaction).

Bitcoin have invented your own money stored in your own PC.
deal with it if you "trust" a other party to store your BTC ...  Undecided
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February 08, 2014, 08:28:16 PM
 #39

MtGox became a epic joke long time ago and only greed and stupidity forced people to trade there or send any coin/fiat into this black hole.
MtGox has been operating as one big mixer - closed system with no exit for fiat or BTC.

Interesting where did the coin go and if coin is really gone, how did they manage to lose it?

 Makes sense, hope it doesn't turn out to be a huge ponzi.

I think it will end up that way. Similarly to how Ultimate Bet turned out for online poker (if you were a part of that)
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February 08, 2014, 08:34:31 PM
 #40

Great news!   Smiley

MtGox became a epic joke long time ago and only greed and stupidity forced people to trade there or send any coin/fiat into this black hole.
MtGox has been operating as one big mixer - closed system with no exit for fiat or BTC.

Interesting where did the coin go and if coin is really gone, how did they manage to lose it?

 Makes sense, hope it doesn't turn out to be a huge ponzi.

I think it will end up that way. Similarly to how Ultimate Bet turned out for online poker (if you were a part of that)

The article that OP FUDster linked to says they have the money and coins:

Roger Ver, who declared last July he had looked at Mt. Gox’s books and determined they were indeed still solvent, said he was still optimistic the exchange would fulfil its obligations.

This was after the USA Gov raped them, Gox still had enough money.*
The problems were dealing with the banking industry and very poor coding.

*Unless "the books were faked"

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