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Author Topic: Mt. Gox has filed for bankruptcy protection  (Read 5304 times)
gizmoh
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February 28, 2014, 09:51:26 AM
 #1

Its official.

Wall Street Journal ‏@WSJ  12m
Breaking: Mt. Gox has filed for bankruptcy protection, a company lawyer says. http://wsj.com


https://twitter.com/WSJ
http://europe.wsj.com/home-page

http://www.reuters.com/article/2014/02/28/bitcoin-mtgox-bankruptcy-idUST9N0JX03O20140228

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dedcoin
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February 28, 2014, 09:54:13 AM
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http://online.wsj.com/news/articles/SB10001424052702303801304579410010379087576
http://www.reuters.com/article/2014/02/28/bitcoin-mtgox-bankruptcy-idUST9N0JX03O20140228

First bitcoin bought at $70
Mythul
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February 28, 2014, 09:58:17 AM
 #3

Finally, MT.Gox is dead. RIP !

Salivan
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February 28, 2014, 09:58:55 AM
 #4

On the one hand,I will be missing my 25 Goxcoin , but on the other hand I am happy that it's over

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bootlace
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February 28, 2014, 09:59:44 AM
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Bitcoin might not be dead, but until they figure out a permanent solution to prevent exchanges from dropping like flies, I'd say Bitcoin is in a deep coma.

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February 28, 2014, 10:04:41 AM
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Bitcoin might not be dead, but until they figure out a permanent solution to prevent exchanges from dropping like flies needing centralized exchanges, I'd say Bitcoin is in a deep coma.

Corrected
RicePicker
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February 28, 2014, 10:13:43 AM
 #7

Bitcoin might not be dead, but until they figure out a permanent solution to prevent exchanges from dropping like flies needing centralized exchanges, I'd say Bitcoin is in a deep coma.

Corrected

That is something I have been wondering with all the bitcoin ATMs that have been deployed around the world. How many of them are dependent on the bitcoin exchanges such as Bitstamp or BTC-e? If another occurrence of an exchange shutting down locks away the money and bitcoins ATM owners have on the exchange what do they do?       

Everyone is entitled to their own opinion. It's just that yours is stupid! =D
TERA
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February 28, 2014, 10:20:20 AM
 #8

Finally the bullish news I have been waiting for.
FierceRadish
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February 28, 2014, 10:22:33 AM
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Finally the bullish news I have been waiting for.

Do you expect to see something of a panic dip based on this news, or has the market already priced this in?
F-bernanke
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February 28, 2014, 10:24:44 AM
 #10

So lets see, the total amount of bitcoins just shrunk.

We had 12 million + 750k (gox)coins just a few moments back. so a total supply of 13 million BTC.


Now it's back to 12 million.
billyjoeallen
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February 28, 2014, 10:25:00 AM
 #11

Finally the bullish news I have been waiting for.

+1

insert coin here:
1Ctd7Na8qE7btyueEshAJF5C7ZqFWH11Wc

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LostDutchman
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February 28, 2014, 10:25:54 AM
 #12

Its official.

Wall Street Journal ‏@WSJ  12m
Breaking: Mt. Gox has filed for bankruptcy protection, a company lawyer says. http://wsj.com


https://twitter.com/WSJ
http://europe.wsj.com/home-page

http://www.reuters.com/article/2014/02/28/bitcoin-mtgox-bankruptcy-idUST9N0JX03O20140228

Well, shit.

My $.02.

Wink

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TERA
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February 28, 2014, 10:29:43 AM
 #13

Finally the bullish news I have been waiting for.

Do you expect to see something of a panic dip based on this news, or has the market already priced this in?
It was not 100% certain earlier, so it could not have been fully priced in. The news might be providing just the little nudge that the chart needed to trigger the correction we've been waiting for. It's one of those circumstances where the 'market was waiting for an excuse' to do something.
porcupine87
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February 28, 2014, 10:31:28 AM
 #14

So what does this mean? How many coins do they owe to people and how many are left?
"...Mt. Gox had outstanding debt of about ¥6.5 billion ($63.6 million)"

The bigger question is? Is this good or bad news - regarding to the price?


"Morality, it could be argued, represents the way that people would like the world to work - whereas economics represents how it actually does work." Freakonomics
RicePicker
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February 28, 2014, 10:35:10 AM
 #15

I do not think Mtgox is going to remotely want to deal with returning customers bitcoins back anymore. If they are going to reach a settlement/claim process it is all going to be through yen/dollars.

Everyone is entitled to their own opinion. It's just that yours is stupid! =D
Salivan
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February 28, 2014, 10:37:42 AM
 #16

So lets see, the total amount of bitcoins just shrunk.

We had 12 million + 750k (gox)coins just a few moments back. so a total supply of 13 million BTC.


Now it's back to 12 million.

+1

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TERA
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February 28, 2014, 10:42:13 AM
 #17

There are a ton of investors waiting on the sidelines and all they want is some closure to this ongoing drama and for the bottom to be found and the worst priced in before they buy. So any end to the mtgox ordeal is bullish. There may be a short term downwards movement due to panic but ultimately upwards.
Salivan
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February 28, 2014, 10:42:57 AM
 #18

I think those who will stay on board through all this, will find kind of pride after years if we succeed( or feel very dumb in we crumble )

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spin
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February 28, 2014, 10:53:12 AM
 #19

So lets see, the total amount of bitcoins just shrunk.

We had 12 million + 750k (gox)coins just a few moments back. so a total supply of 13 million BTC.


Now it's back to 12 million.

+1

Disagree whoever or whatever has those R750k coins are using or will use them.  Unless they truly lost the private keys in some way.  Even the coins still in MtGox if any will have to be used. 

If you liked this post buy me a beer.  Beers are quite cheap where I live!
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February 28, 2014, 10:53:53 AM
 #20

I've only been around since 5 December and I already feel like I've been through the wars.  
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