UPDATE: MtGox OFFLINE (good news)

[ndnh]

MtGox had halted trading and now is offline!!

“Gox is the worst-run business in the history of the world”
–Roger Ver, bitcoin advocate

Bitcoin Exchange Mt. Gox Goes Offline Amid Allegations of $350 Million Hack
http://www.wired.com/wiredenterprise/2014/02/bitcoins-mt-gox-implodes/

Prices went down to 420$ as of writing this in other exchanges.

Prices are expected to go back to the previous level in a few weeks.

Shutting down of MtGox is actually a good news bcoz it always disreputed bitcoin.

[1714811050]

1714811050

[TrailingComet]

In the medium to long term, that's absolutely correct

In the short term it is spooking a lot of late adopters with a shallow understanding of the btc protocol

[joeventyra]

price will go up again!

[OrnateRock]

price will go up again!

It sure will. MtGox is just a minor setback. Give Bitcoin few weeks and it will be up again.

[vehementchrome]

Can it be that finally the negative influence MT gox has over BTC's price has ended with this last, large hit? Seems too good to be true.

I'm confident the price will recover anyway.

[SanderHelgesen.]

hi

i have 2.4 bitcoin on gox. will i ever be able to withdraw that?

[p-webcorp]

hi

i have 2.4 bitcoin on gox. will i ever be able to withdraw that?

haha, i have also some, but: get over it!

[techstorm2]

In the medium to long term, that's absolutely correct

In the short term it is spooking a lot of late adopters with a shallow understanding of the btc protocol

Have you seen fiatleak, if the stats are correct, a tsunami of cheap coins are going to china.


 

[Mythul]

Finally this epic saga is coming to and end.

[stg44]

its good new for btc, it will rise, and it isnt good news for mtgox users, and what happen with all btc from gox?

[gomados]

dont think so....

[moriartypants]

Sorry GOXers.  You have my sympathy.

[h@shKraker]

Over my short BitCoing experience I've learned a couple of things.  I'll share a couple of my most basic Axioms here.  So sayeth the H@shKraker .... ->

BIG BAD AXIOM numeral uno :: DON'T F^CK!NG use GOX, DON'T F^CK!NG use GOX, DON'T F^CK!NG use GOX, DON'T F^CK!NG use GOX, DON'T F^CK!NG use GOX .... EVER!!!!!!

If you happen to have buddies that do or plan to please, please, please steer them clear.  Here are some other axioms I use ->

1)  Keep primary wallet in an off line, non-internets connected safe place.  I have a dedicated desktop just for this purpose that ONLY does wallet stuff and *NEVER* sees Pr0n.
2)  Encrypt wallet mentioned above.
3)  Only do transactions once daily from said wallet to capture one's mining activity and/or commerce activity (payments received, payments sent).  This means said machine only connects to the internets once daily and never at the same time.  All other times ofthe day said machine is air-gapped from the internets.
4)  Backup said wallet to a thumb drive in case said pristine machine takes a dump and rolls over.  This way you can build another pristine machine and move your backed up wallet.dat to the new place.
5)  Only use a reputable exchange to convert from BTC to Fiat of your choice.  Oh yea .... DON'T F^CK!NG use GOX.  I use CoinBase but there are others that work well too.
6)  DO NOT keep a pile of coins at the exchange.  Keep your coin pile in your wallet that is air-gapped, encrypted and backed up.  Exchanges are WONDERFUL centralized targets for hacks .... oh yea .... DON'T F^CK!NG use GOX.

I have other axioms but these are ones that might help out other coiners.  Cheers.

H@shKraker

[bitbouillion]

7) use a decent open source OS, use a dedicated user for the wallet software on an encrypted user partition, do not run other apps on this user

[p-webcorp]

8/
do NOT use any google-facebook-yahoo service, +privacy

[h@shKraker]

True dat brethren!

-H

[_wayfarer_]

Finally, certainty in the market

Here's their updated message on the home page, instead of just the blank white page:

Dear MtGox Customers,

In light of recent news reports and the potential repercussions on MtGox's operations and the market, a decision was taken to close all transactions for the time being in order to protect the site and our users. We will be closely monitoring the situation and will react accordingly.

Best regards,
MtGox Team

[Kaligulax]

MtGox had halted trading and now is offline!!

“Gox is the worst-run business in the history of the world”
–Roger Ver, bitcoin advocate

Bitcoin Exchange Mt. Gox Goes Offline Amid Allegations of $350 Million Hack
http://www.wired.com/wiredenterprise/2014/02/bitcoins-mt-gox-implodes/

Prices went down to 420$ as of writing this in other exchanges.

Prices are expected to go back to the previous level in a few weeks.

Shutting down of MtGox is actually a good news bcoz it always disreputed bitcoin.

that is all true... like I wrote this...
price will go up again in few months... up and over 1200

[invisiblehand]

Gox sucks, I'm glad it's down I hope to not hear about their antics anymore.  I set up an account there many months ago and quickly moved any coins off once I saw how difficult it was to get money out.  This is good for a buying opportunity but I wish I had more fiat on hand to buy with.

[jonbit]

Oh Great, Bye bye millions why not take my wife and kids while your at it!

[hungpham]

the price is going down, time to collect bitcoins with cheaper price

[Frankthetank]

Solid advice on good wallet practice there, good lessons to be had from the gox saga for those unfortunate folks with coin there.

[h@shKraker]

THANK HAYSOOS .... GOX is officially halting operations.

H@shKraker

[polarhei]

At last, It's good as the accursed finally recognizes itself so the offline is good for the market.

However for Majority of people who use mtgox's service, "MY FUCKER!", You know the meaning.

[_wayfarer_]

They undoubtably had a huge impact on the early history of Bitcoins.  RIP

[zaigon]

people be respectfull remember some people lost even 4 or 11 millon usd one guy lost 400k usd his life savings

[Lauda]

They should stay down.

[ScaryHash]

HUGE price spike today to $1000+ , before settling back down to 560ish...

As far as I'm concerned, Gox biting the dust was good for BTC. They kept screwing people around, and started bending over backwards for TPTB.

The feds probably dug up some skeleton in the closet of the founder, because there is no other explanation as to his behavior and actions.

[jml]

I only wonder which exchange will be next to fall and I will surely feel sorry for those who lose out.

[h@shKraker]

DING, DING, DING ... That would be Flexcoin.

H@shKraker

[justusranvier]

http://www.youtube.com/watch?v=K2ku1A5Ox8U

[h@shKraker]

oh my ... it looks like Mr Karpeles just might be a big ole' crook -> http://techcrunch.com/2014/03/09/mt-gox-hack-allegedly-reveals-bitcoin-balances-customer-account-totals/ .

H@shKraker

[h@shKraker]

Oh my, looks like Mr. Cheeky's US and Japanese assets are now frozen -> http://money.cnn.com/2014/03/12/technology/mt-gox-asset-freeze/index.html?hpt=hp_t2 .