Trades on MTGox disabled?

[btc237ftw]

Anyone knows what's going on?
I see no action on Gox's trading.

[1714816888]

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[Albertarocks]

Yup... if you try to place an order you get the simple and exceedingly unprofessional message in the form of a popup that says "Trading Has Been Disabled".  However, it was possible to cancel any open orders.  It might have something to do with some sort of white knight deal I was reading about.  Wish I could find that commentary... maybe it was on this forum.

[mpfrank]

Anyone knows what's going on?
I see no action on Gox's trading.

Perhaps related to this (if true)?

http://two-bit-idiot.tumblr.com/post/77745633839/bitcoins-apocalyptic-moment-mt-gox-may-have-lost

[CoinsForTech]

Trading has definitely been disabled




There is a relatively large discussion on reddit you can view here.

[Albertarocks]

Thanks for that link.  Wow... what a crap storm Gox is.  The worst thing that ever happened to Bitcoin is Mark Kapeles.  But as the article says, "we believe that the benefits of keeping MtGox stable and running outweigh the risks.  So that comment may tie in with plans that might be underway to take over Gox and save the customers and all their coins.  This is probably the best thing that could ever happen to get rid of the chaff and get Bitcoin going on the right foot.  MtGox has been the sole detriment to orderly action in the Bitcoin world.  They have been interfering from day one.

[RockHound]

cheers for the screen shot mate!

No official statement from Gox posted yet - I am praying trading will resume or at least we can be allowed external BTC transfers - Unlikely though : (

[Blinken]

For what it's worth I am still logged in as of 9:41 EST so the system is still operating at some level, but no news or announcement is posted.

[btc237ftw]

Thanks for the replies and information guys,

What do you think this halt is all about? is there any technichal guy to say if there's a connection between shutting the trading/servers down and updating the accounting software? I mean... maybe, just MAYBE, they really are doing what they said they are doing - fixing the issue/s and resume withdrawals soon?

[btbrae]

I can confirm I tried to place a trade and got the disabled message. The ticker can't decide if it's stuck at 135.00 or 131.70. Just so you know if any insolvency company has taken over then disabling trading would be a given first step.

[Albertarocks]

Yes, it's no problem to log in or out of the site.  If, it's true that Gox has lost 750,000 BTC, in theory that's their tough luck.  That doesn't mean they have stolen their customers' coins or cash.  According to this article (thanks mpfrank) http://two-bit-idiot.tumblr.com/post/77745633839/bitcoins-apocalyptic-moment-mt-gox-may-have-lost Gox is bankrupt.  What happens to their customers' accounts is the next mystery that has to be answered.  Maybe Kapeles is just out taking a dump and will be right back.  On the other hand, that's probably just wishful thinking, lol.

[RockHound]

Thanks for the replies and information guys,

What do you think this halt is all about? is there any technichal guy to say if there's a connection between shutting the trading/servers down and updating the accounting software? I mean... maybe, just MAYBE, they really are doing what they said they are doing - fixing the issue/s and resume withdrawals soon?

+1 Here with you bud - Nothing has been posted on Gox site yet - Just speculation and rumors (might have something to do with that story everyone thought was FUD re: 750K BTC lost) I am hoping that they are installing new implementation and going to allow external BTC transfers shortly  

[franky1]

i find it so funny that people are still logging into MTGOX and trading..

don't you guys realise that MTGOX has severed its ties to the blockchain and to its bank, and all you are doing is playing with binary digits in a database....

and now even that database has severed its ties to the client-side page of the website where you lot want to place orders.

[MicroGuy]

Can the OP please correct the typo in the title? 

[RockHound]

Exchange rate is very low on Bitcoinbuilder - are you guys going to just hold for now??

[keithers]

I wish one the the larger Venture Capitalist firms would raise some money to buy out Gox, and try and restore it back to what it once was (and get users their money back)...

[btc237ftw]

gox.com directs to mtgox.com

Holy shit.. memo could be true.  Cheesy

Can anyone confirm that? I don't click on links I don't know or go to bitcoin related websites I don't know.

[glendall]

Well this is time of great rejoicing for me. Gox  -- the largest contributor to the largest number of crashes in bitcoin -- is just about completely finished.

This is great!

[btbrae]

i find it so funny that people are still logging into MTGOX and trading..

don't you guys realise that MTGOX has severed its ties to the blockchain and to its bank, and all you are doing is playing with binary digits in a database....

and now even that database has severed its ties to the client-side page of the website where you lot want to place orders.

There are speculators that should know better, but there are also real businesses that were using MtGox as well as a lot of newcomers interested in participating in the economy that didn't know any better, as well as payment processors and charities. Still, it's great that there are people like you that think this all to be very amusing.  

[thebaron]

lol

[pungopete468]

"[–]SarahCoinBit 1 point 3 minutes ago
It was a pleasure serving this community..marion and myself just got laid off."

Yup.