[2015-02-15] Mt Gox is deploying and testing a fix

[erik777]

Mt Gox is deploying and testing a fix, suggesting they could begin to permit withdrawals this week. 

https://www.mtgox.com/img/pdf/20140215-BTC-transfers.pdf

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[BitAddict]

Mt Gox is deploying and testing a fix, suggesting they could begin to permit withdrawals this week. 

https://www.mtgox.com/img/pdf/20140215-BTC-transfers.pdf

Read again, they don't tell anything about allowing withdrawals this week.

"Once the implementation is complete customers will again be able to deposit bitcoin, but we will be doing extensive testing before bitcoin withdrawals are reactivated. We will publish an update on the situation on Monday ."

[qukuai.io]

too young too simple.
mtgox will fuck us again and again.

[erik777]

Mt Gox is deploying and testing a fix, suggesting they could begin to permit withdrawals this week.  

https://www.mtgox.com/img/pdf/20140215-BTC-transfers.pdf

Read again, they don't tell anything about allowing withdrawals this week.

"Once the implementation is complete customers will again be able to deposit bitcoin, but we will be doing extensive testing before bitcoin withdrawals are reactivated. We will publish an update on the situation on Monday ."

Obviously, it's speculative, which is why I said "suggesting".  It obviously depends on how long it takes for "extensive testing" to complete and how successful the testing is.  

But, since they understand the impact it is having on price as well as their profits, and they promised an update tomorrow, I'd say there's a high chance they'll resume this week, possibly as early as tomorrow.  

Remember that prior to this they were just waiting for the bitcoin core devs to produce a new release.  Clearly, they are saying they have a short-term fix that permits them to resume withdrawals prior to the devs changing the malleability of the transaction id.  We know now that the fix is deployed so they can test it. 

The BTC deposit downtime was so they could deploy this new patch to their code.  
 

[TraderTimm]

I'm sure they'll have it done in "two weeks". That is, if Mark can stop making too many trips to the coffee shop for his whip-cream cocoa drinks.

Gox is dead, he just doesn't know it yet.

[LiteCoinGuy]

I'm sure they'll have it done in "two weeks". That is, if Mark can stop making too many trips to the coffee shop for his whip-cream cocoa drinks.

Gox is dead, he just doesn't know it yet.

True

[freedomno1]

For those that are gamblers Gox does offer a price of 250-350 a coin of course with the high chance of that being worthless later on lol

[Foxpup]

For anyone wondering when this fix will be implemented, see the title of this thread.

[cr1776]

For anyone wondering when this fix will be implemented, see the title of this thread.

Lol
That's when they are implementing ltc too.   363 days and counting

[erik777]

An update

https://www.mtgox.com/img/pdf/20140217-Announcement.pdf

[TraderTimm]

An update

https://www.mtgox.com/img/pdf/20140217-Announcement.pdf

I stand corrected - Gox IS dead, and Mark knows it, he just needs to stop people from withdrawing all their funds. Classy. Just the kind of "goxxing" I would expect from an inexperienced businessman.

[fatnlovelyfred]

They will have to work hard to repair their reputation, and it might be too late already.

[Biomech]

An update

https://www.mtgox.com/img/pdf/20140217-Announcement.pdf

I stand corrected - Gox IS dead, and Mark knows it, he just needs to stop people from withdrawing all their funds. Classy. Just the kind of "goxxing" I would expect from an inexperienced businessman.

This.

That was exactly what I thought when I read that. He's putting limits on withdrawals of YOUR coins. There are two groups of people gonna win this one. Those brave souls who bought at ridiculously low prices, and the upper management of Gox. The company itself? Unless they can sell it to somebody who can restore it's rep, they're done. They don't have the FDIC or similar "safety nets" to get a tax funded bailout.

[joethejudge77]

Even if they work hard to repair their reputation, it is too late already.

[CityGuy]

An update

https://www.mtgox.com/img/pdf/20140217-Announcement.pdf

I stand corrected - Gox IS dead, and Mark knows it, he just needs to stop people from withdrawing all their funds. Classy. Just the kind of "goxxing" I would expect from an inexperienced businessman.

This.

That was exactly what I thought when I read that. He's putting limits on withdrawals of YOUR coins. There are two groups of people gonna win this one. Those brave souls who bought at ridiculously low prices, and the upper management of Gox. The company itself? Unless they can sell it to somebody who can restore it's rep, they're done. They don't have the FDIC or similar "safety nets" to get a tax funded bailout.

Well said.

[quone17]

Sounds that way to me too.  But where did the coins and funds all go?  I think a lawsuit will be needed to get to the bottom of that.  If I had north of $10k in there, it'd definitely be worth it.

[31337157]

An update

https://www.mtgox.com/img/pdf/20140217-Announcement.pdf

I stand corrected - Gox IS dead, and Mark knows it, he just needs to stop people from withdrawing all their funds. Classy. Just the kind of "goxxing" I would expect from an inexperienced businessman.

This.

That was exactly what I thought when I read that. He's putting limits on withdrawals of YOUR coins. There are two groups of people gonna win this one. Those brave souls who bought at ridiculously low prices, and the upper management of Gox. The company itself? Unless they can sell it to somebody who can restore it's rep, they're done. They don't have the FDIC or similar "safety nets" to get a tax funded bailout.

Guys, there has always been a withdrawal limit. I'm not pointing that out to defend mtgox or justify their behavior, only to get everyone on the same page.

[PatMan]

The sooner MtGox goes away the better for all of us, as well as Bitcoin.

[kalelreturns]

The sooner MtGox goes away the better for all of us, as well as Bitcoin.

amen.

[Biomech]

An update

https://www.mtgox.com/img/pdf/20140217-Announcement.pdf

I stand corrected - Gox IS dead, and Mark knows it, he just needs to stop people from withdrawing all their funds. Classy. Just the kind of "goxxing" I would expect from an inexperienced businessman.

This.

That was exactly what I thought when I read that. He's putting limits on withdrawals of YOUR coins. There are two groups of people gonna win this one. Those brave souls who bought at ridiculously low prices, and the upper management of Gox. The company itself? Unless they can sell it to somebody who can restore it's rep, they're done. They don't have the FDIC or similar "safety nets" to get a tax funded bailout.

Guys, there has always been a withdrawal limit. I'm not pointing that out to defend mtgox or justify their behavior, only to get everyone on the same page.

True enough, but the implication in the press release is that they are going to throttle it further. Of course I can't prove this, but it's my thought they are doing so not to "test" their fix for their essentially bullshit problem, but to prevent practically everyone from just getting the hell out.

FWIW, I primarily use Coinbase. Never had a problem, even though they were usually a bit behind the market. There's something to be said for decent customer service.