What if someone robbed my exchange of 40,000 Bitcoins?

[WesandEAC]

Well I would instantly halt Bitcoin withdrawals and blame a faulty mechanism like the protocol itself - very hard to fix.  As well I would allow you to buy and sell BTC on my site still while offering you withdrawals that could take up to 3 months...nice and slow.

As the price began to crash I would wait patiently until BTC reached about $1-$100 and then I would use $40,000 to $400,000 to buy all of the BTC I owe everyone.

At that point because of the crash and CRAZY volume I would re-instate BTC transfers and halt cash money withdrawals due to FINCEN or some legal issue.  Problem solved - everyone can get their BTC's out.  I have a lo of BTC right now and I fully expect them to go to 1 penny however I also believe they will head to $8000 later on in their life cycle, so enjoy the ride!

[Holliday]

I thought I had a response to this post, then I realized it's just conjecture.

[roslinpl]

mark. is that you?

Lol

HAhahahahahaha. Can't stop laughin'

[serje]

mark. is that you?

who is mark?

[keithers]

Even though it is still a lot, but hasnt the number been reduced to 4,000 btc stolen?

[cr1776]

mark. is that you?

who is mark?

Karpeles - Of mtgox.

[WesandEAC]

I was talking about GOX not Silk Road.  Your BTC are safe in GOX you just have to wait until they collapse enough that Mark can buy them back for his clients.  That's all.  All is fair in love and crypto-currency.  Since he made a public declaration that client funds were "secure and GOX does not partake in fractionalizing" BTC's,  he would be charged with fraud among many other charges as his crew is rounded up and turn on him when pressured, unless he had the BTC to back up withdrawals.  Then would come stabilization to $600-$700.  I for one think we are headed to dollars temporarily. Hehe

Even though it is still a lot, but hasnt the number been reduced to 4,000 btc stolen?

[serje]

mark. is that you?

who is mark?

Karpeles - Of mtgox.

Thanks

well i think that mtgox is like queen said in his song "another one bites the dust"

now we only have to wait and see what exchange all that 1 million people will go to and the price will be up again

[roslinpl]

mark. is that you?

who is mark?

Karpeles - Of mtgox.

Thanks

well i think that mtgox is like queen said in his song "another one bites the dust"

now we only have to wait and see what exchange all that 1 million people will go to and the price will be up again

MtGox was slow anyway. We wont cry.

[ManeBjorn]

It does feel like they lived high on the hog from the BTC they "borrowed" from their clients.
The reduced price of BTC has the benefit of making it easier for people new to it to buy into for longer term investment but it seriously devalues what people already have.
It does feel like price manipulation though what they are doing.

[WesandEAC]

How else could you return 40,000 BTC with $100,000 dollars - this is how hehe.  I am good with that.

It does feel like they lived high on the hog from the BTC they "borrowed" from their clients.
The reduced price of BTC has the benefit of making it easier for people new to it to buy into for longer term investment but it seriously devalues what people already have.
It does feel like price manipulation though what they are doing.

[hypostatization]

I heard a rumor that Mark Karpeles traveled back in time to introduce the code responsible for transaction malleability, then killed off Satoshi Yakamoto, thereby ensuring that the issue would not be fixed---ultimately allowing MtGox to blame Bitcoin for this wide impacting issue and crash its value. Makes sense when you think about it.

[roslinpl]

I heard a rumor that Mark Karpeles traveled back in time to introduce the code responsible for transaction malleability, then killed off Satoshi Yakamoto, thereby ensuring that the issue would not be fixed---ultimately allowing MtGox to blame Bitcoin for this wide impacting issue and crash its value. Makes sense when you think about it.

I heard a rumor that Mark Karpeles traveled back in time to introduce the code responsible for transaction malleability, then killed off Satoshi Yakamoto, thereby ensuring that the issue would not be fixed---ultimately allowing MtGox to blame Bitcoin for this wide impacting issue and crash its value. Makes sense when you think about it.

yep. I heard that too!

[Cryptogirl82]

I think it was an inside job! So will Cryptsy be next? Are our funds at Cryptsy safe or should we withdraw? Steve.....

[serje]

LOL
I wonder who wants my 19 million pennies from cryptys!

[howardb]

mark. is that you?

who is mark?

Karpeles - Of mtgox.

Thanks

well i think that mtgox is like queen said in his song "another one bites the dust"

now we only have to wait and see what exchange all that 1 million people will go to and the price will be up again

I see it as more of a natural selection process, weaklings and idiots (and they are both) will be weeded out of the BTC gene pool over time.

[roslinpl]

mark. is that you?

who is mark?

Karpeles - Of mtgox.

Thanks

well i think that mtgox is like queen said in his song "another one bites the dust"

now we only have to wait and see what exchange all that 1 million people will go to and the price will be up again

I see it as more of a natural selection process, weaklings and idiots (and they are both) will be weeded out of the BTC gene pool over time.

In this case we might say that I guess.

And in this case  this is very good thing.
We dont need any weak links in bitcoin exchanges world.