I lost 206000 dollars in MTGOX

[flyable]

I have 206000 dollars in my MTGOX account before Feb.7. These money are sleeping in MTGOX for years. I trust MTGOX & Bitcoin foundation very much. I thought Satoshi is behind MTGOX. (I think I am a idiot!!)

After a serials of good news and bad news and the market manipulation in these dark days, my balance is slim to 64000 dollars. I finally decide to retrieve the money via Bitcoin builder. I bought 320 btc at 200 in MTGOX. MTGOX suddenly shut down when I am withdrawing the bitcoin!

I think all the money are gone. All I want is putting Mark Karpeles to the jail. I do not trust Bitcoin again.

[Dafar]

You knew damn well it was a risk to buy more BTC in MtGox after all that shit happened... there was a reason the price was so low.

This is Mark Karpeles with your bitcoins:

[Dafar]

To be fair I really don't think he stole the bitcoins, I have a feeling people will get it back and it'll be a nice surprise for everyone

[ddink7]

I have 206000 dollars in my MTGOX account before Feb.7. These money are sleeping in MTGOX for years. I trust MTGOX & Bitcoin foundation very much. I thought Satoshi is behind MTGOX. (I think I am a idiot!!)

After a serials of good news and bad news and the market manipulation in these dark days, my balance is slim to 64000 dollars. I finally decide to retrieve the money via Bitcoin builder. I bought 320 btc at 200 in MTGOX. MTGOX suddenly shut down when I am withdrawing the bitcoin!

I think all the money are gone. All I want is putting Mark Karpeles to the jail. I do not trust Bitcoin again.

I think you are right.

[exocytosis]

To be fair I really don't think he stole the bitcoins, I have a feeling people will get it back and it'll be a nice surprise for everyone

What do you base that assumption on? The consensus seems to be the opposite: That both BTC and fiat is gone forever. All(?) pundits have basically expressed such views.

[matt4054]

I have 206000 dollars in my MTGOX account before Feb.7. These money are sleeping in MTGOX for years. I trust MTGOX

First, I really feel for you, and I understand that you don't want to touch anything Bitcoin again. That is for the emotional part.

That said, the 3 letter word is about that big in my mind when I read you:

WHY???

What made you trust MtGox so much, when they totally lack any kind of financial safety whatsoever, how could you trust them for that much money, and such an extended amount of time?

Didn't you realize that Bitcoin had been partly designed to escape the trust / IOU / FRB / debt / TBTF / private profit, public losses nightmare?

These are truly honest questions, although they may look trollish in the context, but I really want to have a better understanding of how MtGox managed to get that undue amount of trust from major depositors like you.

They didn't even have an interest rate on fiat nor BTC. I genuinely fail to understand the point of leaving money there for so long.

[jl2012]

I hope you still keep a few coins in your local wallet. Keep them safe. You will be bailed out when it goes above $10000/BTC

[jl2012]

I have 206000 dollars in my MTGOX account before Feb.7. These money are sleeping in MTGOX for years. I trust MTGOX

WHY???

Because he believes Satoshi is behind gox. What an insult to the genius

[jhansen858]

To be fair I really don't think he stole the bitcoins, I have a feeling people will get it back and it'll be a nice surprise for everyone

Wishful thinking but unless you know something we don't, this is pretty fucking remote at this point.

[ChuckBuck]

Why the hell would anyone trust Mt Gox after all the issues it had over the years, not just this year?

They've had numerous problems with withdrawing funds, being hacked, losing coins.  I thought this was common knowledge in the Bitcoin community?

Hard to feel too sorry for anyone that didn't transfer funds after all the multiple fiascos in 2013:

http://en.wikipedia.org/wiki/Mt._Gox

If you had massive funds in Gox after that historically terrible 2013, you kinda deserve it.

[forzendiablo]

all peopel who didnt sell thirr mtgox btcs to chinee are idots and deserve their loss

[toxicwaltz]

I'm sorry that you have to learn your lesson in a hard way.

[igroock]

Why you would keep that much money online is anyone's guess

[lyth0s]

I have 206000 dollars in my MTGOX account before Feb.7. These money are sleeping in MTGOX for years. I trust MTGOX & Bitcoin foundation very much. I thought Satoshi is behind MTGOX. (I think I am a idiot!!)

After a serials of good news and bad news and the market manipulation in these dark days, my balance is slim to 64000 dollars. I finally decide to retrieve the money via Bitcoin builder. I bought 320 btc at 200 in MTGOX. MTGOX suddenly shut down when I am withdrawing the bitcoin!

I think all the money are gone. All I want is putting Mark Karpeles to the jail. I do not trust Bitcoin again.

I bolded your mistakes

I'm sorry for your loss, but you also didn't put any effort forward to protect yourself from it either. Would you trust ANYONE to hold $206,000 cash for you? (US banks a bit different with FDIC and assuming that the US doesn't completely collapse short term)

[matt4054]

You had 200k in Gox before you were even verified?

I got an account verification mail from MTGox 2 hours ago. I think they are alive.

Given OP's registration date, it's plausible that he had his account open much before MtGox had introduced verification procedures.

[Dafar]

To be fair I really don't think he stole the bitcoins, I have a feeling people will get it back and it'll be a nice surprise for everyone

Wishful thinking but unless you know something we don't, this is pretty fucking remote at this point.

I don't... but I don't see how he's not gonna end up either arrested or dead if this doesn't get fixed.

[flyable]

You had 200k in Gox before you were even verified?

I got an account verification mail from MTGox 2 hours ago. I think they are alive.

Yes. That is why I can not withdraw the money.

[btc4ever]

My favorite theory is that MtGox recently discovered it is unable to access one or more cold wallets.  Could be as simple as writing down the wrong case in a password, or more complex like writing the cold storage with old / buggy custom software, and later trying to read it with newer software.   Or even simpler like leaving the USB key with 700,000 coins on it at the Starbucks counter.   haha.

Anyway, it may be that Mark and co are using this time frantically trying to access the cold storage.  Maybe trying password combinations or whatever.

And if they crack that nut.... maybe you'll get your money back.

At least there seems to exist that chance.  Maybe cause for hope.


Full theory is here:
http://letstalkbitcoin.com/somethings-not-right-at-gox/

[sana8410]

To be fair I really don't think he stole the bitcoins, I have a feeling people will get it back and it'll be a nice surprise for everyone

That nice keep hoping.  

 Should have listen to warnings many months ago. Should not keep your bitcoins on the exchange. There is a saying the fool and his money will soon parted.  

[jl2012]

You had 200k in Gox before you were even verified?

I got an account verification mail from MTGox 2 hours ago. I think they are alive.

$200k may only mean 200BTC if he had sold at $1000, and 200BTC was not a big deal for someone who started in 2011. It could all be GPU mined in a few months