Official End of Mt Gox thread

[wobber]

It's so exciting watching gox now. I wonder if it will go under 100...

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[krtek.net]

I caught mtgox doing bad thing and published it couple of minutes before the big fall: https://twitter.com/krtek_net/status/436386804372344832 and https://twitter.com/krtek_net/status/436492419811405824. These 4 trades were made by single SELL LIMIT 1 order which was suppose to create a new low. The order processing went up to bids over or equaling the low, paused and waited for another bid to be placed from another trader and finished with last trade higher then the low. I call it order sorting, I'm aware that this has happened before but it happend to me today for the first time. I've lost goxtools logs of that one, but managed to replicate the same behavior after couple of tries. Trading terminal is connected on Tier 1 network, dedicated hw, no other apps running, 100mbit unmetered. I've checked that my order book is up to date using all available channels and there was no engine lag before and/or during the execution.

EDIT: See https://twitter.com/krtek_net/status/436730953005006848 and https://twitter.com/krtek_net/status/436731507743657984

[Bitcoin_is_here_to_stay]

Whatever site you are using is crap

It's still 42k

Bitcoinwisdom and its the best site out there!

Obviously not, considering its depth is terribly off.

MTgox is currently under 100$

Also a lie.

OP likely meant euros, but we may soon be below $100

[bitcon]

i think one of the mods from BTC trollbox has 1.2 million on gox

[igorr]

gox 111 usd !!!

[jasonjm]

I'm surprised to see the lack of discussion on the subject, on how the entire bitcoin market system will get a big hit in confidence, when MtGox turns out insolvent.
The bitcoin market system always had this halo of an open source community around it. That the community consists of idealistic and therefor trustworthy people. Those who have dealt with bitcoin in depth, know better, but to the outsiders, the market system has looked relatively honest. When MtGox turns out to be insolvent, and news will show things like how bitcoin.org linked MtGox as the main recommended exchange, then this halo will disappear. Bitcoin will be linked more as an tool of those "exchange" operators to scam people out of their money. It's funny to see how most seem to miss that threat.

because everyone on this forum is a wannabe bitcoin millionaire.
its like going into church and pissing on Jesus, and then saying "Jesus sucks, lets talk about it"......
you get? attacked!

bitcoin community as a whole is ridiculously dishonest, turned out to be very disappointing imo. As a currency its no better than "insert douchbag government currency here".

[igorr]

MtGox 111 usd, and what will happen when of these 500,000 Bitcoin comes to Bitstamp I can only imagine.


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[wobber]

fuck gox, lets watch it die!@

Bought you a beer bro.

[igorr]

fuck gox, lets watch it die!@

500 000 bitcoin from MtGox willkill Bitstamp    !!!

[gentlemand]

I'm surprised to see the lack of discussion on the subject, on how the entire bitcoin market system will get a big hit in confidence, when MtGox turns out insolvent.
The bitcoin market system always had this halo of an open source community around it. That the community consists of idealistic and therefor trustworthy people. Those who have dealt with bitcoin in depth, know better, but to the outsiders, the market system has looked relatively honest. When MtGox turns out to be insolvent, and news will show things like how bitcoin.org linked MtGox as the main recommended exchange, then this halo will disappear. Bitcoin will be linked more as an tool of those "exchange" operators to scam people out of their money. It's funny to see how most seem to miss that threat.

because everyone on this forum is a wannabe bitcoin millionaire.
its like going into church and pissing on Jesus, and then saying "Jesus sucks, lets talk about it"......
you get? attacked!

bitcoin community as a whole is ridiculously dishonest, turned out to be very disappointing imo. As a currency its no better than "insert douchbag government currency here".

Internet, drugs, relative anonymity, non reversible transactions, shit tons of money much of which is held by mean spirited libertarian types who lucked out. And you were expecting a utopian paradise?

[derpinheimer]

MtGox 111 usd, and what will happen when of these 500,000 Bitcoin comes to Bitstamp I can only imagine.


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You realize most of these are probably people who had bids at say, $700 when the price was $900.

Then it went to $600 and they sold at a loss, bought back at $500, sold at $400, bought at $300, etc...

There arent 500k coins on Gox.

[bitcon]

Gox Statement Translation - "Please be patient a few more days while we milk this arbitrage opportunity"  we'll give you access to your coins after we're done goxxing.

[krtek.net]

Gox Statement Translation - "Please be patient a few more days while we milk this arbitrage opportunity"  we'll give you access to your coins after we're done goxxing.

My take: http://issuu.com/krteknet/docs/20140220-mtgox-exchange

[Wardan_reloadeD]

fuck gox, lets watch it die!@

http://www.reactiongifs.com/wp-content/uploads/2013/01/popcorn-yes.gif

[Elwar]

This may have a bigger affect. Didn't MtGox buy the rights to the Bitcoin trademark or something?

The community seemed ok with it because they were safekeeping it from abuse by a few other people trying to get it.

But with MtGox dead, they could start executing their rights to the Bitcoin name to get back money to pay for things or it could be sold in a bankruptcy court to someone who could use it to stop people from using the Bitcoin name.

As much as I want MtGox to go away as a source of constant problems, it may not be the best result.

Best thing would be for a competent business organization to buy them out and run things professionally.

[Cassius]

Quoting this article solely because the bolded & italicized sentence was inadvertently awesome.  When all the dust has settled, I think "to Touch the Pink Cow" needs to become a euphemism for having a massively successful business -- with almost literally a license to print money -- that you somehow manage to completely f*ck up and drive into the ground merely because you're a staggeringly incompetent douchebag with your head stuck up your a$$.

+10,000

[jasonjm]

I'm surprised to see the lack of discussion on the subject, on how the entire bitcoin market system will get a big hit in confidence, when MtGox turns out insolvent.
The bitcoin market system always had this halo of an open source community around it. That the community consists of idealistic and therefor trustworthy people. Those who have dealt with bitcoin in depth, know better, but to the outsiders, the market system has looked relatively honest. When MtGox turns out to be insolvent, and news will show things like how bitcoin.org linked MtGox as the main recommended exchange, then this halo will disappear. Bitcoin will be linked more as an tool of those "exchange" operators to scam people out of their money. It's funny to see how most seem to miss that threat.

because everyone on this forum is a wannabe bitcoin millionaire.
its like going into church and pissing on Jesus, and then saying "Jesus sucks, lets talk about it"......
you get? attacked!

bitcoin community as a whole is ridiculously dishonest, turned out to be very disappointing imo. As a currency its no better than "insert douchbag government currency here".

Internet, drugs, relative anonymity, non reversible transactions, shit tons of money much of which is held by mean spirited libertarian types who lucked out. And you were expecting a utopian paradise?

yeah, actually was. Now that I look back it was probably stupid and naive. But at the time I initially got in I really thought it could be something.

[BitcoinTate]

So more people flew to Japan and someone threatened to kick Kraples ass? Am I reading that correctly?

this week we have experienced some
security problems, and as a result we had to relocate MtGox to our previous office building
in Shibuya

https://www.mtgox.com/img/pdf/20140220-Announcement.pdf


Can anyone verify this address is real or they are actually there now?

MtGox Co.,Ltd. (Japan) has moved to the address below:

MtGox Co.,Ltd.
Cerulean Tower 15F
26­1 Sakuragaoka­cho
150­8512 Shibuya Tokyo
Japan

https://support.mtgox.com/home[/quote]

[gentlemand]

I'm surprised to see the lack of discussion on the subject, on how the entire bitcoin market system will get a big hit in confidence, when MtGox turns out insolvent.
The bitcoin market system always had this halo of an open source community around it. That the community consists of idealistic and therefor trustworthy people. Those who have dealt with bitcoin in depth, know better, but to the outsiders, the market system has looked relatively honest. When MtGox turns out to be insolvent, and news will show things like how bitcoin.org linked MtGox as the main recommended exchange, then this halo will disappear. Bitcoin will be linked more as an tool of those "exchange" operators to scam people out of their money. It's funny to see how most seem to miss that threat.

because everyone on this forum is a wannabe bitcoin millionaire.
its like going into church and pissing on Jesus, and then saying "Jesus sucks, lets talk about it"......
you get? attacked!

bitcoin community as a whole is ridiculously dishonest, turned out to be very disappointing imo. As a currency its no better than "insert douchbag government currency here".

Internet, drugs, relative anonymity, non reversible transactions, shit tons of money much of which is held by mean spirited libertarian types who lucked out. And you were expecting a utopian paradise?

yeah, actually was. Now that I look back it was probably stupid and naive. But at the time I initially got in I really thought it could be something.

The future is unwritten. There's a class of operators on the way to beef up the infrastructure who realise the way to make real money is provide trustworthy services rather than rip folks off.

As long as you control your coins and hang in there I think the overwhelmingly bad smell that lingers over Bitcoin will rapidly fade.

[ledmaniak]

So more people flew to Japan and someone threatened to kick Kraples ass? Am I reading that correctly?

this week we have experienced some
security problems, and as a result we had to relocate MtGox to our previous office building
in Shibuya

https://www.mtgox.com/img/pdf/20140220-Announcement.pdf

Maybe they were asked by the owner of the building to leave. Having protestors at the front of your door isn't good advertisement.