The Gox Incentive

[the joint]

In purportedly owing their customers (correct me if I'm wrong) ~68,000 BTC, Mt. Gox has a very large financial incentive to see the market tank.
 
Do you think this incentive will play itself out, or are there any indicators to suggest it has already?

[BreathOfZen]

I think that market manipulation with a clear intent to defraud is as big a financial crime as simple theft, and would be treated with equal harshness in a court of law.

[roslinpl]

I think that market manipulation with a clear intent to defraud is as big a financial crime as simple theft, and would be treated with equal harshness in a court of law.

But it is not a crime.

It makes a bubble - bubble usually always break.

[Tzupy]

In purportedly owing their customers (correct me if I'm wrong) ~68,000 BTC, Mt. Gox has a very large financial incentive to see the market tank.
 
Do you think this incentive will play itself out, or are there any indicators to suggest it has already?

The 68k BTC may be the amount of BTC stolen / scammed from MtGox through the exploit of the vulnerability in their wallet.
I would expect them to get dumped on other exchanges, maybe some already were.

[Bit_Happy]

In purportedly owing their customers (correct me if I'm wrong) ~68,000 BTC, Mt. Gox has a very large financial incentive to see the market tank.
 
Do you think this incentive will play itself out, or are there any indicators to suggest it has already?

The 68k BTC may be the amount of BTC stolen / scammed from MtGox through the exploit of the vulnerability in their wallet.
I would expect them to get dumped on other exchanges, maybe some already were.

But they blamed the BTC project for a bug.
Is there a BTC bug or not?  


EDIT:
I just found this thread:
Contrary to Mt.Gox’s Statement, Bitcoin is not at fault - Gavin Andresen 10/2/14
Wow this is getting good.   

[BitchicksHusband]

Well the bitcoin developers said it's a known issue since 2011 and that Bitcoin-QT has been fixed for a long time.

But since Mt. Gox code hasn't changed since 2011....

[thelema93]

Is it really that difficult to check whether a payment has arrived in a wallet or not?
You just look at the block chain! How can anyone make it look like a payment "make it seem like a sending of bitcoins to a bitcoin wallet did not occur when in fact it did occur." ?

Surely you just look up the wallet address that you sent the money to - if it is there then it HAS been sent!

[Ibian]

Is it really that difficult to check whether a payment has arrived in a wallet or not?
You just look at the block chain! How can anyone make it look like a payment "make it seem like a sending of bitcoins to a bitcoin wallet did not occur when in fact it did occur." ?

Surely you just look up the wallet address that you sent the money to - if it is there then it HAS been sent!

My thought as well. The whole thing is weird. Really looks like a clear case of fraud right now.

[ElectricMucus]

market manipulation is a financial crime treated with harshness in a court of law.

FTFY

[Oldminer]

Gox has already tried to get me to cancel my sell order of $1000 (from 2 mths ago) and resubmit it (their excuse is Im over my withdrawal limit). As if I'd convert back to BTC then sell and resubmit to get my $$ out  

Gox has real issues. Just glad I withdrew 80% of my BTC holdings with them a month ago. Will never deal with them again, but then that will probably be hard to do with karpels behind bars. I always thought he was a shady prick.

GOXXED

[knightcoin]

Well the bitcoin developers said it's a known issue since 2011 and that Bitcoin-QT has been fixed for a long time.

But since Mt. Gox code hasn't changed since 2011....

Gosh.. they should buy a proper exchange server or at least Wall St. second hand system LoL

[roslinpl]

Well the bitcoin developers said it's a known issue since 2011 and that Bitcoin-QT has been fixed for a long time.

But since Mt. Gox code hasn't changed since 2011....

Gosh.. they should buy a proper exchange server or at least Wall St. second hand system LoL

Lol.

I dunno why Gox made such a simply mistake (perhaps mistake was by mistake)
Perhaps they were thinking that it is going to be ok (but it wont)

[the joint]

Bumped for awareness...

...though I'm not definitively suggesting that this is happening.

[roslinpl]

Gox made such a scam for BTC how could they!!!

Mark! Maaaaark!