Mt. Gox's MONDAY ANNOUNCEMENT HERE

[mp420]

What would make more sense than limiting withdrawal sums would be to limit number of withdrawals per user. Limiting the sums is only an anti-theft measure.

[podyx]

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.

patience young man 

[BreathOfZen]

Not to be mean, but this announcement is a total ruse, and contains numerous points that have no relevance to solving their "tx malleability issues". Monthly limits? Reducing withdrawals based on market based conditions? The "incredible strain" of re-indexing millions of transactions for some reason (takes a few hours or so at most)? Not even touching the issue of halted USD, EUR, and JPY withdrawals?

Basically, all this announcement said is that they are working really hard on "stuff", and they hope that you enjoy their next announcement in a few days.  This reminds me of 2008 all over again, and y'all are getting robbed

[fonzie]

 @thelema93

http://www.coindesk.com/mt-gox-may-headed-bankruptcy/

Look at that bastards, everyone is spreading FUD nowadays.

[Torque]

@thelema93

http://www.coindesk.com/mt-gox-may-headed-bankruptcy/

Look at that bastards, everyone is spreading FUD nowadays.

This article highlights that often the simplest answer is probably closest to the truth.  I fully believe that Mt. Gox is insolvent, because their pattern of behavior and communication correlates EXACTLY to a company that precisely IS insolvent.  And their recordkeeping of accounts and transactions probably sucks beyond belief, preventing them even further to sort out their own mess.

So this begs the question, will they get a bail out?  Could some early adopter or miner have complete mercy on them, and just donate them thousands of coins?  Or cut them a big discount?  Or even give them fiat, perhaps as an investment to own a percentage of the company?  Who knows.

Otherwise, expect an announcement from them in a few months that they are done and closing the doors.

[DooMAD]

How many more times is this "announcement" going to get posted?  Gox doesn't deserve any attention, so stop posting this crap.

When they resume withdrawals it should be a mass exodus.  Take everything out, put nothing in.  Leave them to die before they do any further damage.

If your real world bank told you that you can't have your money, you'd dump them in a heartbeat and move to another bank.  Why anyone would continue to trust these inept halfwits with their money is beyond my comprehension.

[BittBurger]

Its obvious Andreas Antonopoulos' influence is all over this notification.

Andreas is of course now the head of security at blockchain.info.

Its always been his idea for exchanges to implement simple email or cell text notifications when things happen on people's accounts. The need to confirm or reject prior to withdrawals, etc.  

(what a fucking concept eh?  nobody ever loses coins from online wallets ever again, because they wont send, without external verification directly from the account owner first.  so 1999.)

As he referred to Gox as "full of shit" last week, I wouldn't so much call them Gox's friends however.   Maybe just some Japanese politeness there.

"Thanks to our friends at Blockchain.info, MtGox now has a workaround".

But big thank you to Blockchain.info for stepping in to help the network and those who were affected, despite Gox.

-B-

[smoothie]

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.

Expect it to be closer to 10 BTC/day and 50 BTC/month.

[smoothie]

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?

Bitstamp halted BTC withdrawals AFTER MTGOX and yet reopened them WITHOUT any LIMITS before MTGOX has reopened withdrawals at all.

[fonzie]

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?

Bitstamp halted BTC withdrawals AFTER MTGOX and yet reopened them WITHOUT any LIMITS before MTGOX has reopened withdrawals at all.

Please don´t spread FUD! Let´s focus on the facts!

 

[smoothie]

How many more times is this "announcement" going to get posted?  Gox doesn't deserve any attention, so stop posting this crap.

When they resume withdrawals it should be a mass exodus.  Take everything out, put nothing in.  Leave them to die before they do any further damage.

If your real world bank told you that you can't have your money, you'd dump them in a heartbeat and move to another bank.  Why anyone would continue to trust these inept halfwits with their money is beyond my comprehension.

Not if they implement withdraw limits. Then the ponzi can go on for a few more months at least.

[smoothie]

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?

Bitstamp halted BTC withdrawals AFTER MTGOX and yet reopened them WITHOUT any LIMITS before MTGOX has reopened withdrawals at all.

Please don´t spread FUD! Let´s focus on the facts!

 

Those were facts. What part of what I posted isn't a fact?

[fonzie]

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?

Bitstamp halted BTC withdrawals AFTER MTGOX and yet reopened them WITHOUT any LIMITS before MTGOX has reopened withdrawals at all.

Please don´t spread FUD! Let´s focus on the facts!

 

Those were facts. What part of what I posted isn't a fact?

  I was just joking, i totally agree with you. But usual everyone in here is screaming "FUD" if you say anything negative related to Bitcoin.

[smoothie]

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?

Bitstamp halted BTC withdrawals AFTER MTGOX and yet reopened them WITHOUT any LIMITS before MTGOX has reopened withdrawals at all.

Please don´t spread FUD! Let´s focus on the facts!

 

Those were facts. What part of what I posted isn't a fact?

  I was just joking, i totally agree with you. But usual everyone in here is screaming "FUD" if you say anything negative related to Bitcoin.

Ahh I see haha. Yes I agree with that also.

[DooMAD]

How many more times is this "announcement" going to get posted?  Gox doesn't deserve any attention, so stop posting this crap.

When they resume withdrawals it should be a mass exodus.  Take everything out, put nothing in.  Leave them to die before they do any further damage.

If your real world bank told you that you can't have your money, you'd dump them in a heartbeat and move to another bank.  Why anyone would continue to trust these inept halfwits with their money is beyond my comprehension.

Not if they implement withdraw limits. Then the ponzi can go on for a few more months at least.

True, but even if it has to be done in stages, get as much out as possible because it isn't safe at gox.  

If people have to use exchanges, I suggest they diversify and spread investments between several different exchanges to minimise losses if any of them turn out to be as useless as gox.  Don't rely on a single exchange to be in control of your money.  Avoid putting large sums onto exchanges at all, unless you're willing to risk losing it.

[chesthing]

Monday's message was just more bs stalling. Gox going down into the 2's again, right back down Satan's asshole. So what we have here is a bunch of speculators waiting for an announcement from Gox that gives hope as a signal to buy. This in turn will raise the price, not because enough real investors are dumb enough to act on said announcement, but because enough speculators are betting they will. If/when this does happen it will be a quick spike then back down, with some speculators winning some losing.
Pretty much sum it up?

[smoothie]

Monday's message was just more bs stalling. Gox going down into the 2's again, right back down Satan's asshole. So what we have here is a bunch of speculators waiting for an announcement from Gox that gives hope as a signal to buy. This in turn will raise the price, not because enough real investors are dumb enough to act on said announcement, but because enough speculators are betting they will. If/when this does happen it will be a quick spike then back down, with some speculators winning some losing.
Pretty much sum it up?

Stalling for sure.

Even Bitstamp was able to get everything up and running like before and they shut down withdrawals after GOX and resumed withdrawals before GOX.

That is pretty telling of the situation.

[mp420]

You all seem to have high confidence in Gox's technical competence. Since none of you seem to view it possible that they just have problems getting their systems to work.

[TERA]

did anyone verify with people from blockchain.info, the work mtgox said it has done with blockchain.info?