Should the foundation apologize to GOX?!

[WesandEAC]

Don't tell me we have another Federal Reserve mentality who is always late to the game and re-acts instead of ACTS!  Hmmmm Mt. Gox for all its past problems does not look like the bad guy to me fellas.

You academics need to pull your head out of your asses and listen for once instead of being in love with your calculators.  Lift your head up. 

Sorry but +1 for Gox.  Someone needs to redact some hurtful statements there.....

[WesandEAC]

So I posted the other day I had too many coins in gox across accounts to admit haha, and felt admitting that it was due to complacency and stupidity that I did so .... I take that back.  I now have 5783 coins in Gox as I am buying here and if I have the patience and guts to buy back in to 8,000 coins then I will do so.  They have never done me wrong and I understand that this is an experiment.  If I lose, I lose and I knew that way back when.

So who here has heard of a Board of Directors who knew there was a problem for over two and a half years and wrote papers and academics detailing the problem but did not act until after the problem had manifested itself?  The Federal Reserve you would say!?!  And you would be right.

What is different here is we have the power to do something about it and soon you are going to see some changes.  From me.  I am in the shadows working on many projects but one of them will simply be a new core team of developers for BTC, the community will have the opportunity to go in Bitcoin 1.0's direction or Bitcoin 2.0's direction.  I see too much Americentric development and discussion around Bitcoin's future.  Luckily the phenomenon has a voting mechanism to choose which way they wish to go with 51% of the network power.

They have all served their purpose and done well.  However for the experiment to become reality, we will require a bit more discipline and less drama.

[btcash]

I don't think they need to apologize, since MtGox send out badly formed TXs, but they should at least tell the truth.
https://bitcointalk.org/index.php?topic=460944.msg5099461#msg5099461
https://bitcointalk.org/index.php?topic=461714.msg5099896#msg5099896

I agree that many Bitcoin users tend to deny/ignore problems and think Bitcoin isn't vulnerable / that the Devs will fix all problems as soon as they appear in no time.
"Oh there is a hole on the street, lets just put a sign in front for the moment. Someone is going to fix it after a bunch of people fall into it."

The mentality was alright in 2009 when the media didn't watch Bitcoin, but now every problem with the network damages Bitcoins reputation.
In 2009 Bitcoin would have probably survived a 51% attack. Today reversed TXs would destroy Bitcoin.

[Lauda]

No. Stop talking nonsense.
This is Goxs fault and their bad software implementations, the other exchanges did not have this problem.

[Mobo]

Yes! A nice apology, lets go back to the old bitcoin days before serious money became involved

[nanonano]

What is different here is we have the power to do something about it and soon you are going to see some changes.  From me.  I am in the shadows working on many projects but one of them will simply be a new core team of developers for BTC

Dude, there's no reason to work in the shadows. It's also bad for your eyes.

You blame some board of directors for this, yet any developer could have improved the problem areas surrounding malleability. Anyone -- including you and  developers employed by any exchanges -- could have posted patches for that and they would have been accepted if they were good enough.

Now the obvious fix for this lack of contributions in areas you think are important would be to start contributing and sending patches. But no, you'll work on a "new core team of developers". I don't see how that makes sense.

[gambit1]

Wesand: you have over 5000 coins in gox??

[danieldaniel]

Don't tell me we have another Federal Reserve mentality who is always late to the game and re-acts instead of ACTS!  Hmmmm Mt. Gox for all its past problems does not look like the bad guy to me fellas.

You academics need to pull your head out of your asses and listen for once instead of being in love with your calculators.  Lift your head up. 

Sorry but +1 for Gox.  Someone needs to redact some hurtful statements there.....

No, it's Gox's problem.  Their exchange is better suited for magic cards. 

[stompix]

Apologize for what?
For letting them run a custom software that was buggy?

Gox did so much damage with their statement to the bitcoin world , they are the ones that should apologize.

[yatsey87]

Apologize for what?
For letting them run a custom software that was buggy?

Gox did so much damage with their statement to the bitcoin world , they are the ones that should apologize.

Yeah, I think it should be the other way around.

[WesandEAC]

Yep, I am coming out of the closet, just bought 40 more from 528 - 540   I will just buy, buy and buy.  That does not include cash I have with them as well.  Hehehe.  These dooms day sayers kill me everytime.

How do you think I have 6000 coins.  I do not do this for fun my friend.  I understand risk and this will be another example of where that has come in valuable.

Wesand: you have over 5000 coins in gox??

[Littleshop]

Don't tell me we have another Federal Reserve mentality who is always late to the game and re-acts instead of ACTS!  Hmmmm Mt. Gox for all its past problems does not look like the bad guy to me fellas.

You academics need to pull your head out of your asses and listen for once instead of being in love with your calculators.  Lift your head up. 

Sorry but +1 for Gox.  Someone needs to redact some hurtful statements there.....

You need to examine the situation a little more closely.  Gox is clearly at fault.  Even with bugs they could manually process transactions (slowly) for those in need, that is if they have the coin to do so.  

[EvilPanda]

Apologize for what?
For letting them run a custom software that was buggy?

Gox did so much damage with their statement to the bitcoin world , they are the ones that should apologize.

Yeah, I think it should be the other way around.

Gox had problems before their official statement. No other exchange is as bugged as gox is, they have Facebook and Twitter accounts, but hardly ever write anything, they don't care about customers and basically have no customer support at all. Don't forget they also had fiat withdrawal problems - what does it have to do with bitcoin vulnerability? Good customer relations and smooth management of deposits/withdrawals are the basics if you run a financial business. Gox failed at both.

[WesandEAC]

When you 'care' about customers during a Goldrush it is a slippery slope.  There are no rules here and EVERYONE seems to forget this is an experiment.  I have put my money and the people around me, where our mouths are.  I have done some fun projects but the serious ones under development are around the corner.  We also do not need donations or investment hehe.  There are some changes coming my friends.  Coinbase and all the others including Gox have been warned.  Like their M.O. I am fully confident they recognize no validity to any threat - congrats to me!

To the fella above, you seem to forget the direction of Bitcoin is controlled by a 51% stake in its mining abilities.  I offer you the challenge - come up with something better than we have.  We will instantly obsolete 49% of all Bitcoin businesses who do not go with the hard fork when (if) it arrives.  Be aware.  Get educated.

[stompix]

Apologize for what?
For letting them run a custom software that was buggy?

Gox did so much damage with their statement to the bitcoin world , they are the ones that should apologize.

Yeah, I think it should be the other way around.

Gox had problems before their official statement. No other exchange is as bugged as gox is, they have Facebook and Twitter accounts, but hardly ever write anything, they don't care about customers and basically have no customer support at all. Don't forget they also had fiat withdrawal problems - what does it have to do with bitcoin vulnerability? Good customer relations and smooth management of deposits/withdrawals are the basics if you run a financial business. Gox failed at both.

And further more , the bug was first mentioned in 2011 , Gox claimed to have problems but never said a word about what kind of problems till they took the time to find something to blame and come up with this.
If they indeed suffered loses out of this , why don't they say how much and when..

[guybrushthreepwood]

Apologize for what?
For letting them run a custom software that was buggy?

Gox did so much damage with their statement to the bitcoin world , they are the ones that should apologize.

Yeah, I think it should be the other way around.

Gox had problems before their official statement. No other exchange is as bugged as gox is, they have Facebook and Twitter accounts, but hardly ever write anything, they don't care about customers and basically have no customer support at all. Don't forget they also had fiat withdrawal problems - what does it have to do with bitcoin vulnerability? Good customer relations and smooth management of deposits/withdrawals are the basics if you run a financial business. Gox failed at both.

And further more , the bug was first mentioned in 2011 , Gox claimed to have problems but never said a word about what kind of problems till they took the time to find something to blame and come up with this.
If they indeed suffered loses out of this , why don't they say how much and when..

They were just passing the blame. The devs warned gox about this problem before apparently.

[spartacusrex]

Gox did so much damage with their statement to the bitcoin world , they are the ones that should apologize.

+1

It's not the bug in their exchange that pissed everyone off..

It's the way they dealt with it.. as always.

Did they have to release a statement to the masses saying 'Bitcoin has a BUG! RUN FOR YOUR LIVES!'..

Inflammatory bollox.

Same same from GOX.

Steer clear. Your choice. 

[stompix]

Wesand: you have over 5000 coins in gox??

Don't you know that if you count all the bitcoins that people on this forum have it sums up to around 40 millions ? =))))

[DannyHamilton]

To the fella above, you seem to forget the direction of Bitcoin is controlled by a 51% stake in its mining abilities. 

You are mistaken.

It only takes 1 miner and 1 user to fork the blockchain and create an alternative Bitcoin.  It does not require 51% of the miners.

On the other hand, it requires 100% of all users (not 51% of the miners) to change anything in the fundamental nature of bitcoin.

You clearly have misunderstood what a 51% attack is.

[WesandEAC]

I am sure there are many things I do not understand.  That is why I pay people.  I am also certain there are things you do not.  What GOX did was genius for Bitcoin - you all have it backwards like usual.  In the REAL WORLD calling  a problem out provides credibility.  As opposed to burying it in the shadows for 2.5 years like the foundation who were too busy being popular.  I understand it, it gave me time to load the gatlin up and now they stand little chance.  I enjoy competition.  To cheer the genius of an infant technology like cryptographic currencies such as the Bitcoin Foundation is irresponsible.  With real corporate governance and best practices and procedures that will soon be put forth through an institution with a back bone and some credibility you will see real changes my friends.  Not techies in the valley haha.  Real World professionals.

GOX gets my vote and that is why my funds and coins are there.  Was there a moment I was concerned - sure.  Do I have concern now - not much.  They are more pro-active than most corporations and ALL institutions in my opinion and this is all just my opinion.  NEVER forget this is an experiment people.  Be a big boy and manage your own risk, do not expect a customer support ticket to assuage your fears - too funny!

To the fella above, you seem to forget the direction of Bitcoin is controlled by a 51% stake in its mining abilities. 

You are mistaken.

It only takes 1 miner and 1 user to fork the blockchain and create an alternative Bitcoin.  It does not require 51% of the miners.

On the other hand, it requires 100% of all users (not 51% of the miners) to change anything in the fundamental nature of bitcoin.

You clearly have misunderstood what a 51% attack is.