Ding Dong the wicked Mt GOX is dead!

[5thStreetResearch]

I don't understand point in shutting down..if they were in massive debt the only way out would be to keep the exchange running ..raise fees and set daily limits for withdraws..shutting down is not going to make them any money unless of course they took everyone's money and ran. Media is goin nuts with this even with no real source or statement from mtgox.. they can put a 25% withdraw fee and everyone will still get out of there and they would make a killing.

 

They have about $32,000,000 in assets and $120,000,000 in liabilities at the moment.  Bankruptcy exists for a reason.

Assets are things a business OWNS.    Do you understand this simple balance sheet fact?     Assets are NOT the money held for customers in what are supposed to be SEGREGATED Accounts.     You really need to understand some basic principals of business or else you are going to be confused as to why these people will go to prison.

wtf are you talking about?  They weren't a bank.  They were a chop shop exchange that didnt guarantee accounts.  Anyone dumb enough to have left money there should have lost it.

[1715013366]

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[1715013366]

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[newguy05]

first ever financial crisis in the btc world???

more like #984827902 crisis.

[minime]

first ever financial crisis in the btc world???

more like #984827902 crisis.

ya thats true but now even my grandma did hear about btc maybe the first large scale one

[Bralex]

Who is the next big roller on bitcoin economy next ?

[5flags]

Mark is really a SCAMMER. He was accepting fiat funds thru' some methods until today! I almost sent 3 thousands USD a few days ago when i was not aware of his "confidential solvency".

And the solvency of the other exchanges... You are confident in? Based on... Hope...

I forgot, all other exchanges openly show audit reports, and proof of holdings... Let me get those links...
(Pending links) Bitstamp
(Pending links) BTCe
(Pending links) Huobi

Hmmm.. seems they all have "confidential solvency". Now what?

Do we have any reason to suspect their liquidity? All it would have taken was a statement saying "client funds are kept separate from operational funds and are operating at 100% reserve".

But he couldn't say that.

[bytemaster]

It is times like this where a decentralized exchange such as BitShares X will come in very handy.    We are releasing our test network in just a few weeks...    of all the altcoins, ProtoShares is down the least  

bitsharestalk.org

[Minor Miner]

I don't understand point in shutting down..if they were in massive debt the only way out would be to keep the exchange running ..raise fees and set daily limits for withdraws..shutting down is not going to make them any money unless of course they took everyone's money and ran. Media is goin nuts with this even with no real source or statement from mtgox.. they can put a 25% withdraw fee and everyone will still get out of there and they would make a killing.

 

They have about $32,000,000 in assets and $120,000,000 in liabilities at the moment.  Bankruptcy exists for a reason.

Assets are things a business OWNS.    Do you understand this simple balance sheet fact?     Assets are NOT the money held for customers in what are supposed to be SEGREGATED Accounts.     You really need to understand some basic principals of business or else you are going to be confused as to why these people will go to prison.

wtf are you talking about?  They weren't a bank.  They were a chop shop exchange that didnt guarantee accounts.  Anyone dumb enough to have left money there should have lost it.

I agree with you.   However, a court is not going to.

[kuroman]

How can anyone take that artical seriously when it's all filled with typos and mistakes, I'm no english native, and I myself do alot of mistakes, but I believe the minimum from a respected/serious media is to read proof their articals.....

Anyway just to say FUD Artical and FUD News. but funny how weak heart people are trowing their BTC

[pleiotropik]

MtGox is not dead till Karpeles says it's dead. Karpeles wants to take Chuck Norris place and kick the universe's ass. It's the world's fault that he is in dire straits and he's going to extract retribution from everyone. 

[ciappa]

There is a German exchange, which is very serious! Can only recommend to all!

Here is the link: https://www.bitcoin.de/de/r/d5er5d

[grifferz]

I forgot, all other exchanges openly show audit reports, and proof of holdings... Let me get those links...
(Pending links) Bitstamp
(Pending links) BTCe
(Pending links) Huobi

Hmmm.. seems they all have "confidential solvency". Now what?

You keep your coins on your own hardware like you should have, and see which of them takes the need for customer confidence seriously.

[LiteCoinGuy]

now i know the answer 

[neot]

don't leave coins on an exchange!  trade and get them out!