Mt. Gox's MONDAY ANNOUNCEMENT HERE

[thelema93]

It is amazing what complete nonsense people say in this forum without actually reading the announcements

Mt. GOX's MONDAY ANNOUNCEMENT IS HERE:

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

Their News Feed is here:  https://www.mtgox.com/news

"Resuming Withdrawals

With this new system in place, MtGox should be able to resume withdrawals
soon. At the beginning we will do so at a moderated pace and with new daily/
monthly limits in place to prevent any problems with the new system and to take
into account current market conditions.

In order to launch the new system, we are going through the following steps:

Re-indexing the entire Blockchain (approx. 32 million entries)

Fully deploying the new NTX ID

Implementing a new bitcoin withdrawal queue that needs to be tested

We will update everyone again by Thursday at the latest"

[muyuu]

At the beginning we will do so at a moderated pace and with new daily/
monthly limits in place to prevent any problems with the new system and to take
into account current market conditions.

Ha. Ha.

[thelema93]

At the beginning we will do so at a moderated pace and with new daily/
monthly limits in place to prevent any problems with the new system and to take
into account current market conditions.

Ha. Ha.

I see exactly what you mean. Thank you so much.

[DubFX]

Good news finnaly?  

[Mythul]

Monthly limits until they can buy back all the lost/spent/hacked coins Wonder if it will be like 1BTC/month.

[TERA]

It's bad news actually. no action. "wait another 3 days till we give you an update about our plans which should occur 'soon'". More Waiting. The same old bs. The same thing that caused a crash over the weekend. Nothing new.

[thelema93]

It's bad news actually. no action. "wait another 3 days till we give you an update about our plans which should occur 'soon'". More Waiting. The same old bs. The same thing that caused a crash over the weekend. Nothing new.

Sounds to me like they have come up good with every promised announcement so far and they are actually trying to fix a bug in their code. Great opportunity to buy cheap coins!

[muyuu]

It's bad news actually. no action. "wait another 3 days till we give you an update about our plans which should occur 'soon'". More Waiting. The same old bs. The same thing that caused a crash over the weekend. Nothing new.

No news except when/if they do open withdrawals you can forget about the previous 100 BTC/day limit.

[Cluster2k]

If I was testing a new withdrawl system I would put daily limits on it too.  There is nothing suspicious about that.  The problem is the market may not see it that way and indeed it hasn't.  GoxCoin has jumped in value but it's nowhere near what Bitcoin is worth.

MtGox stated that no Bitcoins were stolen during the latest hack.  Is that still true after further investigations?  Also, when will cash withdrawls be sped up?

[TERA]

Really? They come good on every announcement? Like litecoin which was being implemented last August July April? And why is it taking them so long to fix this code when every other exchange was able to do it within one day?

[thelema93]

Really? They come good on every announcement? Like litecoin which was being implemented last August July April? And why is it taking them so long to fix this code when every other exchange was able to do it within one day?

"Resuming Withdrawals

With this new system in place, MtGox should be able to resume withdrawals
soon. At the beginning we will do so at a moderated pace and with new daily/
monthly limits in place to prevent any problems with the new system and to take
into account current market conditions.

In order to launch the new system, we are going through the following steps:

Re-indexing the entire Blockchain (approx. 32 million entries)

Fully deploying the new NTX ID

Implementing a new bitcoin withdrawal queue that needs to be tested

We will update everyone again by Thursday at the latest."

I guess that takes a bit of time to implement and test. And I was referring to the announcements they've made since the BTC withdrawal issue.

[Tzupy]

The news is mildly bullish for the other exchanges, with BTC withdrawals capped to an unknown limit,
there will be no crash on Bitstamp or BTC-E when people will cash out there.
In the meantime Gox may be arbitraging to make some $, because that's what they may be short of.
Not BTC, as the market seems to have believed, and irrationally panic sold.

[hostmaster]

Good news but hard to believe

[rmines]

They're just stalling.
To me this seems just another delayed execution of the inevitable..

[indiemax]

Let it die,it's a zombie exchange,doing more harm to Bitcoin each and every day it breathes

[dnaleor]

good news for bitcoinbuilder.com

Large withdrawels will still nit be possible, so that website will still be usefull

When the risk is low, I will maybe consider buying some "goxed BTC"

[TERA]

I was thinking the most bullish possible thing to happen would be if gox went to 0 and then stamp started rallying. At that point gox's influences would be completely gone and the rest of the market would prove itself as independent and strong.

[Zarathustra]

If I was testing a new withdrawl system I would put daily limits on it too.  

Yes, but they promise monthly limits as well.

[reasonable]

Good news:

- Information calm the nerves --> less fear, less volatility
- no massive dump
- no sign of Mt Gox will go bankrupt
- Mt. Gox found a solution to solve problems
- date for new informationen
- no crash, so there is still enough trust of the community/holders --> Bitcoin will be stronger after this crash

Regards

[Cluster2k]

If I was testing a new withdrawl system I would put daily limits on it too.  

Yes, but they promise monthly limits as well.

We will see what happens, and how large the monthly limits are.  MtGox risks a run on GoxCoin if the limit is so low that people are suspicious they may have run out of stock.  

I honestly can't believe we're discussing MtGox's woes for weeks and months now.  Bitcoin was meant to free us up from single points of failure.  A small handful of exchanges hold the value of bitcoin up and give it a price.  A concerted effort from just a few governments to attack these exchanges could destroy bitcoin's value and much of its usefullness.  They can use any reason for doing so, but I'd be betting on CP purchaces, tax evasion and money laundering charges.  We need strong exchanges.  MtGox has been sick for a very long time.