Abdussamad
Legendary
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Activity: 3682
Merit: 1580
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February 24, 2014, 12:30:53 PM |
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gox have deleted all their tweets That's kinda the point  |
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Abdussamad
Legendary
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Activity: 3682
Merit: 1580
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February 24, 2014, 12:31:59 PM |
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I think they are still alive
because
I have send my verification documents to MTGOX in 24. January
To day it has just veriffied
We are pleased to inform you that the identification documentation you have submitted has been reviewed, and your account has been upgraded to "Verified" status.
Uh huh. Always open to deposits. Even when you are going down. |
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Cassius
Legendary
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Activity: 1764
Merit: 1031
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February 24, 2014, 02:58:05 PM |
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I think they are still alive
because
I have send my verification documents to MTGOX in 24. January
To day it has just veriffied
We are pleased to inform you that the identification documentation you have submitted has been reviewed, and your account has been upgraded to "Verified" status.
Uh huh. Always open to deposits. Even when you are going down. A bit like hotel california. you can stay but never leave! Why on earth would a sensible, law-abiding, well-run organisation like Mt Gox allow cash deposits even when they aren't allowing bitcoin withdrawals? eztezt: given the publicity, and general Goxishness of their Goxxing, doesn't this strike you as just a tiny bit suspicious? |
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bananas
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February 24, 2014, 03:01:31 PM |
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bankruptcy is a legal process that anyone who has a non paid credit with the company may start, it is not like mtgox will declare itself bankrupt
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kevinm
Full Member
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Activity: 228
Merit: 100
This is not good for my Chi... Yifu
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February 24, 2014, 03:27:55 PM |
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If Karpeles continues to allow trading on the platform whilst knowing that the company is insolvent, does that not amount to fraud?
It will be a very bad day for BTC if Gox goes under. The negative publicity that it will draw from the MSM will surely discourage new investors and drive the BTC price down. Miner manufacturing companies could take a big hit through cancelled orders/refund requests. So all the members who seem to take a smug position at the thought of Gox going under may like to think how that event may indirectly effect them.
It aint gonna be pretty for anyone.
cheers,
kev
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Cassius
Legendary
Offline
Activity: 1764
Merit: 1031
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February 24, 2014, 03:36:45 PM |
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If Karpeles continues to allow trading on the platform whilst knowing that the company is insolvent, does that not amount to fraud?
It will be a very bad day for BTC if Gox goes under. The negative publicity that it will draw from the MSM will surely discourage new investors and drive the BTC price down. Miner manufacturing companies could take a big hit through cancelled orders/refund requests. So all the members who seem to take a smug position at the thought of Gox going under may like to think how that event may indirectly effect them.
It aint gonna be pretty for anyone.
cheers,
kev
Agreed: not pretty and a bad day for bitcoin. Short term, only the speculators who get in at lower prices will benefit. Sadly, the fact remains that Gox is a liability and so is Karpeles. In the long run, everyone in the bitcoin ecosystem is better off without them. |
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keithers
Legendary
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Activity: 1456
Merit: 1001
This is the land of wolves now & you're not a wolf
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February 25, 2014, 12:49:23 AM |
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The worry of bankruptcy is one of the main reasons for the massive sell offs on Gox, otherwise people would be hanging onto their BTC. Trying to claim lost BTC in bankruptcy court is almost definitely a lost cause since most governments have not even classified BTC as a real currency.
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Skoupi
Sr. Member
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Activity: 252
Merit: 250
Skoupi the Great
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February 25, 2014, 12:52:49 AM |
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There are a lot of people betting on mtgox bancruptcy right now...
Dunno what to think...
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repentance
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February 25, 2014, 12:54:02 AM |
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It will be a very bad day for BTC if Gox goes under. The negative publicity that it will draw from the MSM will surely discourage new investors and drive the BTC price down. Miner manufacturing companies could take a big hit through cancelled orders/refund requests. So all the members who seem to take a smug position at the thought of Gox going under may like to think how that event may indirectly effect them.
It aint gonna be pretty for anyone.
cheers,
kev
The continued uncertainty regarding MtGox is far worse for Bitcoin than Gox going under would be. |
All I can say is that this is Bitcoin. I don't believe it until I see six confirmations.
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Skoupi
Sr. Member
Offline
Activity: 252
Merit: 250
Skoupi the Great
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February 25, 2014, 12:56:01 AM |
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The continued uncertainty regarding MtGox is far worse for Bitcoin than Gox going under would be.
Don't worry that can't go forever... |
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bananas
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February 25, 2014, 01:04:03 AM |
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The worry of bankruptcy is one of the main reasons for the massive sell offs on Gox, otherwise people would be hanging onto their BTC. Trying to claim lost BTC in bankruptcy court is almost definitely a lost cause since most governments have not even classified BTC as a real currency.
No, it is not. In a bankruptcy process all known belongings of a company are confiscated, it includes his fapuccino, his Magic The Gathering collection and all the BTC. Then it is used to pay everyone who claim in court to have a credit on a preference order ( taxes and employee credits are always first ). |
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repentance
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February 25, 2014, 01:41:38 AM |
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The worry of bankruptcy is one of the main reasons for the massive sell offs on Gox, otherwise people would be hanging onto their BTC. Trying to claim lost BTC in bankruptcy court is almost definitely a lost cause since most governments have not even classified BTC as a real currency.
No, it is not. In a bankruptcy process all known belongings of a company are confiscated, it includes his fapuccino, his Magic The Gathering collection and all the BTC. Then it is used to pay everyone who claim in court to have a credit on a preference order ( taxes and employee credits are always first ). Nobody here is familiar enough with the Japanese insolvency process to comment with any certainty on exactly how it would proceed. The issue of whether Bitcoin claims can be treated differently from fiat claims arose in the Bitcoinica liquidation but to my knowledge hasn't been resolved as the liquidator hasn't been able to take possession of the Bitcoinica funds held on MtGox. We honestly don't know what would be liquidated in a Japanese insolvency. We don't know whether users would be regarded as unsecured creditors. We don't know whether the domain names and trademark would be sold along with all the BTC. We certainly don't know who might have claims superior to those of users. Generally speaking unsecured creditors rarely benefit from bankruptcy proceedings. The benefit of forcing the issue at this stage would be to stop MtGox owing even more people more money if it is indeed insolvent or forcing it to start paying what it owes if it's not. |
All I can say is that this is Bitcoin. I don't believe it until I see six confirmations.
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mda
Member
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Activity: 144
Merit: 13
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February 25, 2014, 04:34:42 PM |
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Why would someone deposit to exchange when he could use 3-key escrow for the same money is beyond me...  |
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boumalo
Legendary
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Activity: 1918
Merit: 1018
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February 25, 2014, 06:52:46 PM |
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Why would someone deposit to exchange when he could use 3-key escrow for the same money is beyond me... They trusted gox, it is convenient and somewhat easier than escrow when it was fulfilling people's withdrawing requests A lot of people were trading on gox as well But you are right, escrow was safer |
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