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Bitcoin mining is now a specialized and very risky industry, just like gold mining. Amateur miners are unlikely to make much money, and may even lose money. Bitcoin is much more than just mining, though!
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Definit
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February 25, 2014, 04:50:30 AM |
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i sure hope it's true tbh.................................................
my only option at this point is to remain optimistic about this...
the only other option would not be in much favor to the opposition of this scenario.
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russokai
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February 25, 2014, 04:52:29 AM |
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Please....document is obviously fake. Don't be so gullible.
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quone17
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February 25, 2014, 04:53:01 AM |
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And carry over old funds and coins to the new site? Or start totally fresh? To start fresh they'd have to go through some kind of bankruptcy I believe.
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dikx
Newbie
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Activity: 19
Merit: 0
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February 25, 2014, 04:59:10 AM |
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I previously also thought that the document was fake, but then pieces of the puzzle just start to get together..
1. This document was posted online before everything happened.
2. MtGOX just acquired gox.com domain and changed the name servers yesterday.
3. Only support page in mtgox is working, exactly as it's described in the document..
4. Trading engine was halted
I don't want to believe too, but.. I'm starting to
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Warren
Member
Offline
Activity: 112
Merit: 10
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February 25, 2014, 05:01:18 AM |
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I previously also thought that the document was fake, but then pieces of the puzzle just start to get together..
1. This document was posted online before everything happened.
2. MtGOX just acquired gox.com domain and changed the name servers yesterday.
3. Only support page in mtgox is working, exactly as it's described in the document..
4. Trading engine was halted
I don't want to believe too, but.. I'm starting to
The purchase of Gox.com ( https://bitcointalk.org/index.php?topic=485842.0) does give the document credibility in my eyes also. If the plan could possibly work is another issue though... |
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Bobsurplus
Legendary
Offline
Activity: 1008
Merit: 1000
Making money since I was in the womb! @emc2whale
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February 25, 2014, 05:01:42 AM |
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How can they rebrand? With all the legal issues coming there way, the major fraud they just concluded. Its all game over now.
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jhansen858
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February 25, 2014, 05:08:14 AM |
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I previously also thought that the document was fake, but then pieces of the puzzle just start to get together..
1. This document was posted online before everything happened.
2. MtGOX just acquired gox.com domain and changed the name servers yesterday.
3. Only support page in mtgox is working, exactly as it's described in the document..
4. Trading engine was halted
I don't want to believe too, but.. I'm starting to
I agree with you. |
Hi forum: 1DDpiEt36VTJsiJunyBc3XtG6CcSAnsQ4p
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Lab_Rat
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February 25, 2014, 05:14:54 AM |
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morphKET
Full Member
Offline
Activity: 134
Merit: 100
We Are All One
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February 25, 2014, 05:16:42 AM |
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I am assuring myself this is the case with the points some of the previous members pointed out. However I am either way trying to prepare for the worst
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annette786
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February 25, 2014, 05:17:46 AM |
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Doc is true, but they probably changed the number of coins lost.
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repentance
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February 25, 2014, 05:26:08 AM |
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If the doc is true, it means they've lost 750,000 BTC - no way they'll be coming back.
Even Charlie Shrem, who was defending them only hours ago, is now saying on reddit he was "lied to".
A rescue package or buyout was never a realistic option - MtGox is way too deep in legal shit on so many different legal fronts to be an attractive acquisition for anyone.
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All I can say is that this is Bitcoin. I don't believe it until I see six confirmations.
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1l1l11ll1l
Legendary
Offline
Activity: 1274
Merit: 1000
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February 25, 2014, 05:28:19 AM |
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And why would they then point gox.com to mtgox.com if they were rebranding. Some epic trolling if you ask me.
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ILoseAtPoker
Newbie
Offline
Activity: 35
Merit: 0
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February 25, 2014, 05:32:11 AM |
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I believe the entire document is true.
If anyone followed the fall of the very trusted online poker site "Full Tilt Poker" you would see the similarities.
The US government seizing a large amount of $ (as happened in both cases) would force most companies to run a fractional reserve to stay open - after that it is a slippery slope.
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CryptoVortex
Newbie
Offline
Activity: 34
Merit: 0
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February 25, 2014, 05:56:29 AM |
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Whether this document is true or (more likely IMO) a fake, I find it comical that the number of bitcoins allegedly lost over a few years is 744,408. An organization that failed to notice the disappearance of half a billion dollars, millions of dollars per employee, nevertheless is supposed to have been able to calculate their losses to an accuracy better than 1 part in 105.
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ChuckBuck (OP)
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February 25, 2014, 05:59:24 AM |
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Whether this document is true or (more likely IMO) a fake, I find it comical that the number of bitcoins allegedly lost over a few years is 744,408. An organization that failed to notice the disappearance of half a billion dollars, millions of dollars per employee, nevertheless is supposed to have been able to calculate their losses to an accuracy better than 1 part in 105.
Document is true, as confirmed by NY Times: http://www.nytimes.com/2014/02/25/business/apparent-theft-at-mt-gox-shakes-bitcoin-world.html?_r=0A document circulating widely in the Bitcoin world said the company had lost 744,000 Bitcoins in a theft that had gone unnoticed for years. That would be about 6 percent of the 12.4 million Bitcoins in circulation. |
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morphKET
Full Member
Offline
Activity: 134
Merit: 100
We Are All One
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February 25, 2014, 06:00:52 AM |
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So either way, as most of the community has said; it is good news that they have gone down or admitted to this as most banks or ponzi schemes would have run off without a word
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5thStreetResearch
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February 25, 2014, 06:06:07 AM |
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Assets of $32,000,000, liabilities of $120,000,000, and a brand name that is now the most despised in the industry... Seems pretty genius to try to resurrect this.
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5thStreetResearch
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February 25, 2014, 06:08:31 AM |
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I believe the entire document is true.
If anyone followed the fall of the very trusted online poker site "Full Tilt Poker" you would see the similarities.
The US government seizing a large amount of $ (as happened in both cases) would force most companies to run a fractional reserve to stay open - after that it is a slippery slope.
Players from Full Tilt Poker get their money back this week. This money was seized by the DOJ. Mt Gox simply lost their user's balances by being negligent. The DOJ doesnt have this money to pay back user's as they did with Full Tilt. Very different situations here. |
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Holliday
Legendary
Offline
Activity: 1120
Merit: 1009
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February 25, 2014, 06:10:14 AM |
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Assets of $32,000,000, liabilities of $120,000,000, and a brand name that is now the most despised in the industry... Seems pretty genius to try to resurrect this.
Where do I sign up? |
If you aren't the sole controller of your private keys, you don't have any bitcoins.
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jubalix
Legendary
Offline
Activity: 2618
Merit: 1022
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February 25, 2014, 06:12:13 AM |
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I suppose gox is well known, the advertising alone / brand recognition must be worth millions
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bananas
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February 25, 2014, 06:30:25 AM |
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I suppose gox is well known, the advertising alone / brand recognition must be worth millions
the brand is worthing nothing. it is well known for bad adjectives only. |
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5thStreetResearch
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February 25, 2014, 06:43:16 AM |
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I suppose gox is well known, the advertising alone / brand recognition must be worth millions
the brand is worthing nothing. it is well known for bad adjectives only. yea the brand name has negative value at the moment |
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flyaaaa
Newbie
Offline
Activity: 13
Merit: 0
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February 25, 2014, 06:47:31 AM |
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Well I'm not saying the document is not true. But NY Times didn't confirm. NY Times just said: " Somebody said so, blablabla..." Whether this document is true or (more likely IMO) a fake, I find it comical that the number of bitcoins allegedly lost over a few years is 744,408. An organization that failed to notice the disappearance of half a billion dollars, millions of dollars per employee, nevertheless is supposed to have been able to calculate their losses to an accuracy better than 1 part in 105.
Document is true, as confirmed by NY Times: http://www.nytimes.com/2014/02/25/business/apparent-theft-at-mt-gox-shakes-bitcoin-world.html?_r=0A document circulating widely in the Bitcoin world said the company had lost 744,000 Bitcoins in a theft that had gone unnoticed for years. That would be about 6 percent of the 12.4 million Bitcoins in circulation. |
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ILoseAtPoker
Newbie
Offline
Activity: 35
Merit: 0
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February 25, 2014, 12:29:07 PM |
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I believe the entire document is true.
If anyone followed the fall of the very trusted online poker site "Full Tilt Poker" you would see the similarities.
The US government seizing a large amount of $ (as happened in both cases) would force most companies to run a fractional reserve to stay open - after that it is a slippery slope.
Players from Full Tilt Poker get their money back this week. This money was seized by the DOJ. Mt Gox simply lost their user's balances by being negligent. The DOJ doesnt have this money to pay back user's as they did with Full Tilt. Very different situations here. That is not correct. When the DOJ seized full tilt they didn't have the players money. The only reason people are getting their money back is because PokerStars signed a deal with the DOJ bailing FullTilt out and restoring user balances. It would be the equivalent of Bitstamp buying out Gox now and returning peoples money. Full tilt was an empty shell like Gox is now. http://www.forbes.com/sites/nathanvardi/2012/07/31/pokerstars-will-pay-547-million-to-settle-u-s-government-charges-and-buy-full-tilt-poker/The two situations are almost identical: http://www.coindesk.com/mt-gox-may-headed-bankruptcy/ |
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