Mt.gox story

[xjpoper]

1. Purposely raise the price of BTC, attract traders come to Mt.gox and deposit BTC. Market situation: Sell >> buy;
2. Block cash withdrawing, most of traders found it's not easy to get out money even they can sell BTC with higher price.;
3. Some of traders will buy back BTC, sell == buy, price was going stable and higher than other exchange markets;
4. Mt.gox sold customer's 40,000 BTC, and block withdrawing BTC;
5. The price of BTC dropped accordingly
6. Mt.gox to open cash withdrawing and continue to block BTC withdrawing, traders will trend to sell BTC by lower price and get cash back;
7. Mt.gox will buy back 40,000 BTC to balance account

It's not surprised to see announcement tomorrow: BTC withdrawing will continue stopped but cash withdrawing will be quickly and smoothly

[MegaHustlr]

Thats a smart move on mt gox's behalf BUT hell unethical.

[guybrushthreepwood]

1. Purposely raise the price of BTC, attract traders come to Mt.gox and deposit BTC. Market situation: Sell >> buy;
2. Block cash withdrawing, most of traders found it's not easy to get out money even they can sell BTC with higher price.;
3. Some of traders will buy back BTC, sell == buy, price was going stable and higher than other exchange markets;
4. Mt.gox sold customer's 40,000 BTC, and block withdrawing BTC;
5. The price of BTC dropped accordingly
6. Mt.gox to open cash withdrawing and continue to block BTC withdrawing, traders will trend to sell BTC by lower price and get cash back;
7. Mt.gox will buy back 40,000 BTC to balance account

It's not surprised to see announcement tomorrow: BTC withdrawing will continue stopped but cash withdrawing will be quickly and smoothly

So did you sign up just to spread FUD?

[xjpoper]

1. Purposely raise the price of BTC, attract traders come to Mt.gox and deposit BTC. Market situation: Sell >> buy;
2. Block cash withdrawing, most of traders found it's not easy to get out money even they can sell BTC with higher price.;
3. Some of traders will buy back BTC, sell == buy, price was going stable and higher than other exchange markets;
4. Mt.gox sold customer's 40,000 BTC, and block withdrawing BTC;
5. The price of BTC dropped accordingly
6. Mt.gox to open cash withdrawing and continue to block BTC withdrawing, traders will trend to sell BTC by lower price and get cash back;
7. Mt.gox will buy back 40,000 BTC to balance account

It's not surprised to see announcement tomorrow: BTC withdrawing will continue stopped but cash withdrawing will be quickly and smoothly

So did you sign up just to spread FUD?

+1

looks like true

[guybrushthreepwood]

1. Purposely raise the price of BTC, attract traders come to Mt.gox and deposit BTC. Market situation: Sell >> buy;
2. Block cash withdrawing, most of traders found it's not easy to get out money even they can sell BTC with higher price.;
3. Some of traders will buy back BTC, sell == buy, price was going stable and higher than other exchange markets;
4. Mt.gox sold customer's 40,000 BTC, and block withdrawing BTC;
5. The price of BTC dropped accordingly
6. Mt.gox to open cash withdrawing and continue to block BTC withdrawing, traders will trend to sell BTC by lower price and get cash back;
7. Mt.gox will buy back 40,000 BTC to balance account

It's not surprised to see announcement tomorrow: BTC withdrawing will continue stopped but cash withdrawing will be quickly and smoothly

So did you sign up just to spread FUD?

+1

looks like true

You might be right. I take back my FUD accusation lol.

[yatsey87]

xjpoper must be a whistleblower.

[seriouscoin]

i didnt notice this thread but wow for see the issue so clear!

[sidhujag]

1. Purposely raise the price of BTC, attract traders come to Mt.gox and deposit BTC. Market situation: Sell >> buy;
2. Block cash withdrawing, most of traders found it's not easy to get out money even they can sell BTC with higher price.;
3. Some of traders will buy back BTC, sell == buy, price was going stable and higher than other exchange markets;
4. Mt.gox sold customer's 40,000 BTC, and block withdrawing BTC;
5. The price of BTC dropped accordingly
6. Mt.gox to open cash withdrawing and continue to block BTC withdrawing, traders will trend to sell BTC by lower price and get cash back;
7. Mt.gox will buy back 40,000 BTC to balance account

It's not surprised to see announcement tomorrow: BTC withdrawing will continue stopped but cash withdrawing will be quickly and smoothly

So did you sign up just to spread FUD?

+1

looks like true

You might be right. I take back my FUD accusation lol.

Next time u know not to blame the messenger.. they are forcing price down,.. but only on mtgox any other exchange provides a buying opportunity since they are unaffected.. 40k btc already sold now they need to buy 40k btc at lower prices.. now mtgox price shouldnt be correlated with the market anymore.. until they open btc withdrawls again.

Can backfire if changes are pushed and they dont get a chance to buy lower. But maybe they already did via btce and if true we see price staying stable or rising as mtgox becomes a bidder.

[roslinpl]

withdraws are open.
So MtGox  back to "normal"

Now we must just wait for settle the whole mess.

[xjpoper]

withdraws are open.
So MtGox  back to "normal"

Now we must just wait for settle the whole mess.

Yes, right

[guybrushthreepwood]

withdraws are open.
So MtGox  back to "normal"

Now we must just wait for settle the whole mess.

Really? I can't see how they sorted that out so quick, and if they did, it's very suspcious.

[stompix]

withdraws are open.
So MtGox  back to "normal"

Now we must just wait for settle the whole mess.

For mtgox back to "normal" means back like they were before , a total mess.

[stompix]

1. Purposely raise the price of BTC, attract traders come to Mt.gox and deposit BTC. Market situation: Sell >> buy;
2. Block cash withdrawing, most of traders found it's not easy to get out money even they can sell BTC with higher price.;
3. Some of traders will buy back BTC, sell == buy, price was going stable and higher than other exchange markets;
4. Mt.gox sold customer's 40,000 BTC, and block withdrawing BTC;
5. The price of BTC dropped accordingly
6. Mt.gox to open cash withdrawing and continue to block BTC withdrawing, traders will trend to sell BTC by lower price and get cash back;
7. Mt.gox will buy back 40,000 BTC to balance account

It's not surprised to see announcement tomorrow: BTC withdrawing will continue stopped but cash withdrawing will be quickly and smoothly

So did you sign up just to spread FUD?

+1

looks like true

You might be right. I take back my FUD accusation lol.

There are many people claiming that this is just one major GoxHoax , and I do support some of the accusations , thinking back on how Gox manage to do things.
I start to believe this is no FUD.

[guybrushthreepwood]

1. Purposely raise the price of BTC, attract traders come to Mt.gox and deposit BTC. Market situation: Sell >> buy;
2. Block cash withdrawing, most of traders found it's not easy to get out money even they can sell BTC with higher price.;
3. Some of traders will buy back BTC, sell == buy, price was going stable and higher than other exchange markets;
4. Mt.gox sold customer's 40,000 BTC, and block withdrawing BTC;
5. The price of BTC dropped accordingly
6. Mt.gox to open cash withdrawing and continue to block BTC withdrawing, traders will trend to sell BTC by lower price and get cash back;
7. Mt.gox will buy back 40,000 BTC to balance account

It's not surprised to see announcement tomorrow: BTC withdrawing will continue stopped but cash withdrawing will be quickly and smoothly

So did you sign up just to spread FUD?

+1

looks like true

You might be right. I take back my FUD accusation lol.

There are many people claiming that this is just one major GoxHoax , and I do support some of the accusations , thinking back on how Gox manage to do things.
I start to believe this is no FUD.

What do you mean by hoax? I think it was a non-issue and their attempt to shift the blame from them and buy them some time.

[yatsey87]

withdraws are open.
So MtGox  back to "normal"

Now we must just wait for settle the whole mess.

For mtgox back to "normal" means back like they were before , a total mess.

Normal ie not really fully functional. Normal for them is not being able to get money out and ages to get in.

[stompix]

1. Purposely raise the price of BTC, attract traders come to Mt.gox and deposit BTC. Market situation: Sell >> buy;
2. Block cash withdrawing, most of traders found it's not easy to get out money even they can sell BTC with higher price.;
3. Some of traders will buy back BTC, sell == buy, price was going stable and higher than other exchange markets;
4. Mt.gox sold customer's 40,000 BTC, and block withdrawing BTC;
5. The price of BTC dropped accordingly
6. Mt.gox to open cash withdrawing and continue to block BTC withdrawing, traders will trend to sell BTC by lower price and get cash back;
7. Mt.gox will buy back 40,000 BTC to balance account

It's not surprised to see announcement tomorrow: BTC withdrawing will continue stopped but cash withdrawing will be quickly and smoothly

So did you sign up just to spread FUD?

+1

looks like true

You might be right. I take back my FUD accusation lol.

There are many people claiming that this is just one major GoxHoax , and I do support some of the accusations , thinking back on how Gox manage to do things.
I start to believe this is no FUD.

What do you mean by hoax? I think it was a non-issue and their attempt to shift the blame from them and buy them some time.

Yeah , that's why is a hoax.
The issue was never really there. They just did one hell of a market manipulation to get some money in order to cover some possible incoming expenses like.... lawyers ,or trip to unknown sunny country.
And to blame somebody else for "losing" bitcoins. Like tradefortress.

[CryptoBeggar]

1. Purposely raise the price of BTC, attract traders come to Mt.gox and deposit BTC. Market situation: Sell >> buy;
2. Block cash withdrawing, most of traders found it's not easy to get out money even they can sell BTC with higher price.;
3. Some of traders will buy back BTC, sell == buy, price was going stable and higher than other exchange markets;
4. Mt.gox sold customer's 40,000 BTC, and block withdrawing BTC;
5. The price of BTC dropped accordingly
6. Mt.gox to open cash withdrawing and continue to block BTC withdrawing, traders will trend to sell BTC by lower price and get cash back;
7. Mt.gox will buy back 40,000 BTC to balance account

It's not surprised to see announcement tomorrow: BTC withdrawing will continue stopped but cash withdrawing will be quickly and smoothly

Where did they sell? At bitstamp? Or bitsample?

[roslinpl]

1. Purposely raise the price of BTC, attract traders come to Mt.gox and deposit BTC. Market situation: Sell >> buy;
2. Block cash withdrawing, most of traders found it's not easy to get out money even they can sell BTC with higher price.;
3. Some of traders will buy back BTC, sell == buy, price was going stable and higher than other exchange markets;
4. Mt.gox sold customer's 40,000 BTC, and block withdrawing BTC;
5. The price of BTC dropped accordingly
6. Mt.gox to open cash withdrawing and continue to block BTC withdrawing, traders will trend to sell BTC by lower price and get cash back;
7. Mt.gox will buy back 40,000 BTC to balance account

It's not surprised to see announcement tomorrow: BTC withdrawing will continue stopped but cash withdrawing will be quickly and smoothly

Where did they sell? At bitstamp? Or bitsample?

this is ass talk
All this is a kind of bullshit.

But it makes me laugh, so it is cool

[hilariousandco]

withdraws are open.
So MtGox  back to "normal"

Now we must just wait for settle the whole mess.

For mtgox back to "normal" means back like they were before , a total mess.

I'm sure they'll continue to operate exactly as before. People need to learn from this and get their money and coins out ASAP and take their custom elsewhere.

1. Purposely raise the price of BTC, attract traders come to Mt.gox and deposit BTC. Market situation: Sell >> buy;
2. Block cash withdrawing, most of traders found it's not easy to get out money even they can sell BTC with higher price.;
3. Some of traders will buy back BTC, sell == buy, price was going stable and higher than other exchange markets;
4. Mt.gox sold customer's 40,000 BTC, and block withdrawing BTC;
5. The price of BTC dropped accordingly
6. Mt.gox to open cash withdrawing and continue to block BTC withdrawing, traders will trend to sell BTC by lower price and get cash back;
7. Mt.gox will buy back 40,000 BTC to balance account

It's not surprised to see announcement tomorrow: BTC withdrawing will continue stopped but cash withdrawing will be quickly and smoothly

So did you sign up just to spread FUD?

+1

looks like true

You might be right. I take back my FUD accusation lol.

Next time u know not to blame the messenger.. they are forcing price down,.. but only on mtgox any other exchange provides a buying opportunity since they are unaffected.. 40k btc already sold now they need to buy 40k btc at lower prices.. now mtgox price shouldnt be correlated with the market anymore.. until they open btc withdrawls again.

Can backfire if changes are pushed and they dont get a chance to buy lower. But maybe they already did via btce and if true we see price staying stable or rising as mtgox becomes a bidder.

At the time it wasn’t a message, but looked just like speculative FUD with no evidence, so you can't blame people for thinking that.

[stompix]

withdraws are open.
So MtGox  back to "normal"

Now we must just wait for settle the whole mess.

For mtgox back to "normal" means back like they were before , a total mess.

I'm sure they'll continue to operate exactly as before. People need to learn from this and get their money and coins out ASAP and take their custom elsewhere.

Good luck hoping for that. People tend to not learn form the first mistake , and when being lured by high prices they seem to forget everything.
They don't need just to be burned but also grilled , deep fried and iced before they learn a lesson and not use gox again