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myself
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chaos is fun...…damental :)
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![](https://bitcointalk.org/Themes/custom1/images/post/xx.gif) |
February 25, 2014, 03:28:40 AM |
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Joint Statement Regarding MtGox Posted on February 25, 2014 by Blockchain Team
For immediate distribution: February 24th, 2014 — 10:00 PM ET
The purpose of this document is to summarize a joint statement to the Bitcoin community regarding the insolvency of Mt.Gox.
This tragic violation of the trust of users of Mt.Gox was the result of one company’s abhorrent actions and does not reflect the resilience or value of bitcoin and the digital currency industry. There are hundreds of trustworthy and responsible companies involved in bitcoin. These companies will continue to build the future of money by making bitcoin more secure and easy to use for consumers and merchants. As with any new industry, there are certain bad actors that need to be weeded out, and that is what we are seeing today.
We are confident, however, that strong Bitcoin companies, led by highly competent teams and backed by credible investors, will continue to thrive, and to fulfill the promise that bitcoin offers as the future of payment in the Internet age.
In order to re-establish the trust squandered by the failings of Mt. Gox, responsible bitcoin exchanges are working together and are committed to the future of bitcoin and the security of all customer funds. As part of the effort to re-assure customers, the following exchanges will be coordinating efforts over the coming days to publicly reassure customers and the general public that all funds continue to be held in a safe and secure manner: Coinbase, Kraken, BitStamp, Circle, and BTC China.
We strongly believe in transparent, thoughtful, and comprehensive consumer protection measures. We pledge to lead the way.
Bitcoin operators, whether they be exchanges, wallet services or payment providers, play a critical custodial role over the bitcoin they hold as assets for their customers. Acting as a custodian should require a high-bar, including appropriate security safeguards that are independently audited and tested on a regular basis, adequate balance sheets and reserves as commercial entities, transparent and accountable customer disclosures, and clear policies to not use customer assets for proprietary trading or for margin loans in leveraged trading. It does not appear to any of us that MtGox followed any these essential requirements as a financial services provider.
The following industry leaders stand by this statement:
Fred Ehrsam — Co-founder of Coinbase Jesse Powell — CEO of Kraken Nejc Kodrič — CEO of Bitstamp.net Bobby Lee — CEO of BTC China Nicolas Cary — CEO of Blockchain.info Jeremy Allaire — CEO of Circle
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Los desesperados publican que lo inventó el rey que rabió, porque todo son en el rabias y mas rabias, disgustos y mas disgustos, pezares y mas pezares; si el que compra algunas partidas vé que baxan, rabia de haver comprado; si suben, rabia de que no compró mas; si compra, suben, vende, gana y buelan aun á mas alto precio del que ha vendido; rabia de que vendió por menor precio: si no compra ni vende y ván subiendo, rabia de que haviendo tenido impulsos de comprar, no llegó á lograr los impulsos; si van baxando, rabia de que, haviendo tenido amagos de vender, no se resolvió á gozar los amagos; si le dan algun consejo y acierta, rabia de que no se lo dieron antes; si yerra, rabia de que se lo dieron; con que todo son inquietudes, todo arrepentimientos, tododelirios, luchando siempre lo insufrible con lo feliz, lo indomito con lo tranquilo y lo rabioso con lo deleytable.
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dropt
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February 25, 2014, 03:31:47 AM |
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It may not have been intended to be a statement of fact.
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Torque
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February 25, 2014, 03:33:09 AM |
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This is on the Coinbase blog, wording is different (no "insolvency" mentioned): http://blog.coinbase.com/
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derpinheimer
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February 25, 2014, 03:33:51 AM |
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please. fcking. read. the articles have been edited. but screencaps show the originals if you cared to even take 1 minute to research.
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pungopete468
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![](https://bitcointalk.org/Themes/custom1/images/post/xx.gif) |
February 25, 2014, 03:34:08 AM |
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It was mentioned... ![](https://ip.bitcointalk.org/?u=http%3A%2F%2Fi1332.photobucket.com%2Falbums%2Fw607%2Fpungopete468%2FInternet%2520Stuff%2FGoxInsolvency_zpseb0221ba.png&t=665&c=qk-BlRWBV8oDbQ)
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. ..1xBit.com Super Six.. | ▄█████████████▄ ████████████▀▀▀ █████████████▄ █████████▌▀████ ██████████ ▀██ ██████████▌ ▀ ████████████▄▄ ███████████████ ███████████████ ███████████████ ███████████████ ███████████████ ▀██████████████ | ███████████████ █████████████▀ █████▀▀ ███▀ ▄███ ▄ ██▄▄████▌ ▄█ ████████ ████████▌ █████████ ▐█ ██████████ ▐█ ███████▀▀ ▄██ ███▀ ▄▄▄█████ ███ ▄██████████ ███████████████ | ███████████████ ███████████████ ███████████████ ███████████████ ███████████████ ███████████▀▀▀█ ██████████ ███████████▄▄▄█ ███████████████ ███████████████ ███████████████ ███████████████ ███████████████ | ▄█████ ▄██████ ▄███████ ▄████████ ▄█████████ ▄██████████ ▄███████████ ▄████████████ ▄█████████████ ▄██████████████ ▀▀███████████ ▀▀███████ ▀▀██▀ | ▄▄██▌ ▄▄███████ █████████▀ ▄██▄▄▀▀██▀▀ ▄██████ ▄▄▄ ███████ ▄█▄ ▄ ▀██████ █ ▀█ ▀▀▀ ▄ ▀▄▄█▀ ▄▄█████▄ ▀▀▀ ▀████████ ▀█████▀ ████ ▀▀▀ █████ █████ | ▄ █▄▄ █ ▄ ▀▄██▀▀▀▀▀▀▀▀ ▀ ▄▄█████▄█▄▄ ▄ ▄███▀ ▀▀ ▀▀▄ ▄██▄███▄ ▀▀▀▀▄ ▄▄ ▄████████▄▄▄▄▄█▄▄▄██ ████████████▀▀ █ ▐█ ██████████████▄ ▄▄▀██▄██ ▐██████████████ ▄███ ████▀████████████▄███▀ ▀█▀ ▐█████████████▀ ▐████████████▀ ▀█████▀▀▀ █▀ | . Premier League LaLiga Serie A | . Bundesliga Ligue 1 Primeira Liga | | . ..TAKE PART.. |
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Torque
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February 25, 2014, 03:43:35 AM |
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Yeah, it was mentioned alright... by a bunch of low life scumbags trying to spread more FUD with fake screen caps.
Neither the Blockchain blog nor the Coinbase blog officially mention the word "insolvency".
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dropt
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February 25, 2014, 03:49:21 AM |
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Yeah, it was mentioned alright... by a bunch of low life scumbags trying to spread more FUD with fake screen caps.
Neither the Blockchain blog nor the Coinbase blog officially mention the word "insolvency".
And this one? https://vip.btcchina.com/page/notice20140225
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pungopete468
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![](https://bitcointalk.org/Themes/custom1/images/post/xx.gif) |
February 25, 2014, 03:50:30 AM |
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Yeah, it was mentioned alright... by a bunch of low life scumbags trying to spread more FUD with fake screen caps.
Neither the Blockchain blog nor the Coinbase blog officially mention the word "insolvency".
If you say so...
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. ..1xBit.com Super Six.. | ▄█████████████▄ ████████████▀▀▀ █████████████▄ █████████▌▀████ ██████████ ▀██ ██████████▌ ▀ ████████████▄▄ ███████████████ ███████████████ ███████████████ ███████████████ ███████████████ ▀██████████████ | ███████████████ █████████████▀ █████▀▀ ███▀ ▄███ ▄ ██▄▄████▌ ▄█ ████████ ████████▌ █████████ ▐█ ██████████ ▐█ ███████▀▀ ▄██ ███▀ ▄▄▄█████ ███ ▄██████████ ███████████████ | ███████████████ ███████████████ ███████████████ ███████████████ ███████████████ ███████████▀▀▀█ ██████████ ███████████▄▄▄█ ███████████████ ███████████████ ███████████████ ███████████████ ███████████████ | ▄█████ ▄██████ ▄███████ ▄████████ ▄█████████ ▄██████████ ▄███████████ ▄████████████ ▄█████████████ ▄██████████████ ▀▀███████████ ▀▀███████ ▀▀██▀ | ▄▄██▌ ▄▄███████ █████████▀ ▄██▄▄▀▀██▀▀ ▄██████ ▄▄▄ ███████ ▄█▄ ▄ ▀██████ █ ▀█ ▀▀▀ ▄ ▀▄▄█▀ ▄▄█████▄ ▀▀▀ ▀████████ ▀█████▀ ████ ▀▀▀ █████ █████ | ▄ █▄▄ █ ▄ ▀▄██▀▀▀▀▀▀▀▀ ▀ ▄▄█████▄█▄▄ ▄ ▄███▀ ▀▀ ▀▀▄ ▄██▄███▄ ▀▀▀▀▄ ▄▄ ▄████████▄▄▄▄▄█▄▄▄██ ████████████▀▀ █ ▐█ ██████████████▄ ▄▄▀██▄██ ▐██████████████ ▄███ ████▀████████████▄███▀ ▀█▀ ▐█████████████▀ ▐████████████▀ ▀█████▀▀▀ █▀ | . Premier League LaLiga Serie A | . Bundesliga Ligue 1 Primeira Liga | | . ..TAKE PART.. |
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RickJamesBTC
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![](https://bitcointalk.org/Themes/custom1/images/post/xx.gif) |
February 25, 2014, 05:46:45 AM |
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Yeah, it was mentioned alright... by a bunch of low life scumbags trying to spread more FUD with fake screen caps.
Neither the Blockchain blog nor the Coinbase blog officially mention the word "insolvency".
Are you just being stupid? Both said "insolvency" before they were edited.
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Oldminer
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February 25, 2014, 07:50:24 AM |
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words lol
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Asrael999
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![](https://bitcointalk.org/Themes/custom1/images/post/xx.gif) |
February 25, 2014, 08:12:01 AM |
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Yeah, it was mentioned alright... by a bunch of low life scumbags trying to spread more FUD with fake screen caps.
Neither the Blockchain blog nor the Coinbase blog officially mention the word "insolvency".
Are you just being stupid? Both said "insolvency" before they were edited. The point being they were edited and no longer say insolvency - if it was confirmed that EmptyGox was insolvent do you think they would have made the edit?
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RickJamesBTC
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![](https://bitcointalk.org/Themes/custom1/images/post/xx.gif) |
February 25, 2014, 08:17:09 AM |
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Yeah, it was mentioned alright... by a bunch of low life scumbags trying to spread more FUD with fake screen caps.
Neither the Blockchain blog nor the Coinbase blog officially mention the word "insolvency".
Are you just being stupid? Both said "insolvency" before they were edited. The point being they were edited and no longer say insolvency - if it was confirmed that EmptyGox was insolvent do you think they would have made the edit? That's actually NOT the point. He was accusing people of fake screen caps for the insolvent word, but thousands of people saw it before it was changed. Come on people, use that lump of jelly between your ears.
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TERA
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![](https://bitcointalk.org/Themes/custom1/images/post/xx.gif) |
February 25, 2014, 08:30:13 AM |
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Bitfinex is not on that statement. Should I be moving off of Bitfinex?
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myself
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Activity: 938
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chaos is fun...…damental :)
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![](https://bitcointalk.org/Themes/custom1/images/post/xx.gif) |
February 25, 2014, 08:36:44 AM |
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Joint Statement Regarding the Insolvency of Mt.Gox
The purpose of this document is to summarize a joint statement to the Bitcoin community regarding the insolvency of Mt.Gox.
This tragic violation of the trust of users of Mt.Gox was the result of one company’s abhorrent actions and does not reflect the resilience or value of bitcoin and the digital currency industry. There are hundreds of trustworthy and responsible companies involved in bitcoin. These companies will continue to build the future of money by making bitcoin more secure and easy to use for consumers and merchants. As with any new industry, there are certain bad actors that need to be weeded out, and that is what we are seeing today.
We are confident, however, that strong Bitcoin companies, led by highly competent teams and backed by credible investors, will continue to thrive, and to fulfill the promise that bitcoin offers as the future of payment in the Internet age.
In order to re-establish the trust squandered by the failings of Mt. Gox, responsible bitcoin exchanges are working together and are committed to the future of bitcoin and the security of all customer funds. As part of the effort to re-assure customers, the following exchanges will be coordinating efforts over the coming days to publicly reassure customers and the general public that all funds continue to be held in a safe and secure manner: Coinbase, Kraken, BitStamp, Circle, and BTC China.
We strongly believe in transparent, thoughtful, and comprehensive consumer protection measures. We pledge to lead the way.
Bitcoin operators, whether they be exchanges, wallet services or payment providers, play a critical custodial role over the bitcoin they hold as assets for their customers. Acting as a custodian should require a high-bar, including appropriate security safeguards that are independently audited and tested on a regular basis, adequate balance sheets and reserves as commercial entities, transparent and accountable customer disclosures, and clear policies to not use customer assets for proprietary trading or for margin loans in leveraged trading. It does not appear to any of us that MtGox followed any these essential requirements as a financial services provider.
The following industry leaders stand by this statement:
Fred Ehrsam — Co-founder of Coinbase Jesse Powell — CEO of Kraken Nejc Kodrič — CEO of Bitstamp.net Bobby Lee — CEO of BTC China Nicolas Cary — CEO of Blockchain.info Jeremy Allaire — CEO of Circle http://www.circle.com/2014/02/24/joint-statement-regarding-insolvency-mt-gox/
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Los desesperados publican que lo inventó el rey que rabió, porque todo son en el rabias y mas rabias, disgustos y mas disgustos, pezares y mas pezares; si el que compra algunas partidas vé que baxan, rabia de haver comprado; si suben, rabia de que no compró mas; si compra, suben, vende, gana y buelan aun á mas alto precio del que ha vendido; rabia de que vendió por menor precio: si no compra ni vende y ván subiendo, rabia de que haviendo tenido impulsos de comprar, no llegó á lograr los impulsos; si van baxando, rabia de que, haviendo tenido amagos de vender, no se resolvió á gozar los amagos; si le dan algun consejo y acierta, rabia de que no se lo dieron antes; si yerra, rabia de que se lo dieron; con que todo son inquietudes, todo arrepentimientos, tododelirios, luchando siempre lo insufrible con lo feliz, lo indomito con lo tranquilo y lo rabioso con lo deleytable.
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Satyre_Noir
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![](https://bitcointalk.org/Themes/custom1/images/post/xx.gif) |
February 25, 2014, 08:37:53 AM |
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Yeah, it was mentioned alright... by a bunch of low life scumbags trying to spread more FUD with fake screen caps.
Neither the Blockchain blog nor the Coinbase blog officially mention the word "insolvency".
Are you just being stupid? Both said "insolvency" before they were edited. The point being they were edited and no longer say insolvency - if it was confirmed that EmptyGox was insolvent do you think they would have made the edit? That's actually NOT the point. He was accusing people of fake screen caps for the insolvent word, but thousands of people saw it before it was changed. Come on people, use that lump of jelly between your ears. Gox, Bitcoin Foundation and other big exchanges are in collusion, they all knew for long time that Gox is insolvent, it's obvious now.
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WompRat
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![](https://bitcointalk.org/Themes/custom1/images/post/xx.gif) |
February 25, 2014, 08:43:19 AM |
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It might not be that bad. They are almost certainly going to declare bankruptcy today, but that may very well be because the price of coins has collapsed so much that the fees are insufficient to cover their debts and expenses. They may not be able to continue trading, not because of theft or malleability, but because of their response to those events. Of course, they could have lost a huge number of coins as well, we will just have to wait and see.
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T.Stuart
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![](https://bitcointalk.org/Themes/custom1/images/post/xx.gif) |
February 25, 2014, 08:52:45 AM |
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I fear that the only reason they removed the word "insolvency" is because technically this could be used against them if Gox decided to try to get money any which way possible including suing companies or people that publicly stated that they were insolvent, claiming it caused a run etc.
Coinbase etc. are just covering themselves legally until the moment when (if it ever happens) Gox makes a statement admitting to being insolvent.
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Mythul
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February 25, 2014, 08:54:09 AM |
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So the price will go up since real BTC are now more scarce than ever ![Huh](https://bitcointalk.org/Smileys/default/huh.gif)
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