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Bitcoin Forum > Bitcoin > Bitcoin Discussion > Press > [2014-02-10] "Bitcoin Foundation Blames Mt. Gox ‘Unpreparedness’ for Downtime"
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Nagle (OP)
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February 10, 2014, 08:10:07 PM
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"Bitcoin Foundation Blames Mt. Gox ‘Unpreparedness’ for Downtime"

"The Bitcoin Foundation said the Mt. Gox Bitcoin exchange in Tokyo is to blame for technical faults that prevented customer withdrawals of the virtual currency that lost as much as 21 percent of its value today. "

The financial press isn't buying Mt. Gox's excuses.
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February 10, 2014, 08:25:39 PM
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MT Gox's handling of news has always been suspect. All those waiting for Litecoin to trade there have always known this. But today they took it to a new level. Trying to blame other parties for it's own incompetance and losses was stupid at the best interpretation or downright crooked market manipulation at the worst. The sooner BTC trading gets regulated properly the better, as several have noted, the selloff came 20 minutes before the news release! Stinks....
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February 10, 2014, 08:38:36 PM
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Quote from: Nagle on February 10, 2014, 08:10:07 PM
The financial press isn't buying Mt. Gox's excuses.

Actually it sounds like the financial press is just reposting press releases because… the financial press has no idea how bitcoin works.

Never attribute to malice what can be explained by stupidity Smiley
The printing press heralded the end of the Dark Ages and made the Enlightenment possible, but it took another three centuries before any country managed to put freedom of the press beyond the reach of legislators.  So it may take a while before cryptocurrencies are free of the AML-NSA-KYC surveillance plague.
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