MtGox Reopens....

[rhkazani1]

MtGox, the beleaguered online bitcoin exchange which has filed for bankruptcy protection in both Japan and the US having 'lost' 850,000 bitcoins (£308.5bn) belonging to itself and its customers, has reopened its website.

However before you get excited and look to withdraw your bitcoin, the website only allows users to view their balances (in fiat currency and bitcoin) but the people behind the exchange have not given any explanation for the change.

A MtGox call centre representative told CoinDesk that balances which customers are seeing may not be 100% accurate but not matter how much you see, it seems that the likelihood of actually getting access to any funds once stored in MtGox remains as small as ever.


http://www.ibtimes.co.uk/cryptocurrency-news-round-auroracoin-rebounds-100-days-dogecoin-mtgox-reopens-1440799

[Canaanite]

It was painful to see my balance there again 

[rhkazani1]

It was painful to see my balance there again 

At least there are back in the market, just hope they stay and let us withdraw.

[rhkazani1]

It was painful to see my balance there again 

At least there are back in the market, just hope they stay and let us withdraw.

There is zero chance you will ever be able to withdraw your BTC balance. Those are simply digits with no BTC to back them up. Think about it, if this wasn't the case MtGox would be in normal business right now.

Karpeles lost all the BTC back in the June 2011 hack and has spent the last couple of years playing "Bitcoin Ponzi" with all of us. I have accepted the 1400 BTC I lost, is gone forever. The only solace I get is knowing that Mark Karperles will never live another peaceful minute as long as he lives.

He has stolen from the wrong people.


~BCX~

I agree, apparently you're absolutely right.

[Canaanite]

There is zero chance you will ever be able to withdraw your BTC balance. Those are simply digits with no BTC to back them up. Think about it, if this wasn't the case MtGox would be in normal business right now.

Karpeles lost all the BTC back in the June 2011 hack and has spent the last couple of years playing "Bitcoin Ponzi" with all of us. I have accepted the 1400 BTC I lost, is gone forever. The only solace I get is knowing that Mark Karperles will never live another peaceful minute as long as he lives.

He has stolen from the wrong people.


~BCX~

So why on hell they are advertising the balances?

they still have some assets, I did accept the loss of my bitcoins but as a creditor I have a right for part of their assets

[rhkazani1]

There is zero chance you will ever be able to withdraw your BTC balance. Those are simply digits with no BTC to back them up. Think about it, if this wasn't the case MtGox would be in normal business right now.

Karpeles lost all the BTC back in the June 2011 hack and has spent the last couple of years playing "Bitcoin Ponzi" with all of us. I have accepted the 1400 BTC I lost, is gone forever. The only solace I get is knowing that Mark Karperles will never live another peaceful minute as long as he lives.

He has stolen from the wrong people.


~BCX~

So why on hell they are advertising the balances?

they still have some assets, I did accept the loss of my bitcoins but as a creditor I have a right for part of their assets

So that we get depressed again....

[greentea]

There is zero chance you will ever be able to withdraw your BTC balance. Those are simply digits with no BTC to back them up. Think about it, if this wasn't the case MtGox would be in normal business right now.

Karpeles lost all the BTC back in the June 2011 hack and has spent the last couple of years playing "Bitcoin Ponzi" with all of us. I have accepted the 1400 BTC I lost, is gone forever. The only solace I get is knowing that Mark Karperles will never live another peaceful minute as long as he lives.

He has stolen from the wrong people.


~BCX~

So why on hell they are advertising the balances?

they still have some assets, I did accept the loss of my bitcoins but as a creditor I have a right for part of their assets

Probably just for legal purposes/accounting and what not ...

[st1ngray]

[/quote]




 I have accepted the 1400 BTC I lost, is gone forever.

He has stolen from the wrong people.


~BCX~
[/quote]

1400 BTC ?!?!?! Good Lord ! That's a lot of money !

[rhkazani1]

 I have accepted the 1400 BTC I lost, is gone forever.

He has stolen from the wrong people.


~BCX~
[/quote]

1400 BTC ?!?!?! Good Lord ! That's a lot of money !
[/quote]

Yeah!!! We have a millionaire among us

[renfr]

 I have accepted the 1400 BTC I lost, is gone forever.

He has stolen from the wrong people.



1400 BTC ?!?!?! Good Lord ! That's a lot of money !

Yeah!!! We have a millionaire among us

Ex-millionaire  

[rhkazani1]

 I have accepted the 1400 BTC I lost, is gone forever.

He has stolen from the wrong people.



1400 BTC ?!?!?! Good Lord ! That's a lot of money !

Yeah!!! We have a millionaire among us

Ex-millionaire  

I person who could afford to lose 1,400 BTCs would still have few millions here and there

[shunt1]

If you have money locked-up in MtGox, why would you not support a rehabilitation under new management?

The death of MtGox does nobody any good, but their slow recovery would eventually allow the people involved to recover their money.

Yes, it may take a long time to obtain financial stability once again, but that is our only hope.  I will continue to support this company, if they can establish financial trust and respectability once again.

[techgeek]

If you have money locked-up in MtGox, why would you not support a rehabilitation under new management?

The death of MtGox does nobody any good, but their slow recovery would eventually allow the people involved to recover their money.

Yes, it may take a long time to obtain financial stability once again, but that is our only hope.  I will continue to support this company, if they can establish financial trust and respectability once again.

I agree w. some sympathy on the Mt.Gox customers, but the 1st hit when the US governement swooped up a good sum and then losing dwolla. That said everything when you lose a merchant that huge.

Especially what actions were takens place to re-bound that relationship, since it acts similar to as a casino.

Financial stability is when bitcoins are produced and found, as for services Mt.Gox will just be a example for existing exchanges to improve what they are offering and check up not ending up being the next Mt.Gox.

The votes also speaks for itself. The community wants to see transparency as we deserve.

[collapse]

After read the "pile of shit", from Mtgox, and Japan laws:

"note that the balance amounts shown on this site should also not be considered an acknowledgment by MtGox Co., Ltd. of the amount of any rehabilitation claims of users"

I am trying to understand, How a DEPOSITOR can be converted to CREDITOR?
As customer of the EXCHANGE market, I made a DEPOSIT, not a LOAN to Mtgox. A DEPOSIT is NOT a Mtgox ASSET. Miscibility is not a factor here,...

If Mtgox has lost my coins without to be assured and INSURED, SHOULD BE punished with jail.

My question, in this "free market"*:
Exists any crypto-market with the BTC and €,$,.. insured?

The "free market"* has failed again, now the government  is taking another space...


*: take-the-money-and-run,..,
http://www.youtube.com/watch?v=BSXdnEz-vX0

[Luno]

Debtor / creditor is solely about point of view.

Gox has creditors, people or businesses they owe money, you and me.

Gox is a debtor to it's former customers, they owe us something. This debt is worth something to you, you have a claim.

 Depositor is someone who deposits money becoming a creditor (to the debtor) in the process.

[iambk]

Karpeles lost all the BTC back in the June 2011...

How do you know that for sure?

There are some mt.gox wallets that held onto a lot of BTC between 2011 and March 2014.  I think it was March 8 when money started moving out of those wallets.

I agree we'll probably never see our BTC but I still want answers of the truth.

[shunt1]

There are many vultures that find the collapse of MtGox as something exciting and enjoyable.

Please explain to me how this has benefited anyone who owns bitcoin?  Yes, we now know that the management and software of MtGox was severely flawed and that must be corrected.  But the death of this company, without any possibility of recovery under new management, will not help anyone.

Even the people who did not have their money invested with MtGox have lost value in their bitcoin since MtGox collapsed.  Everyone who owns a single bitcoin should support a rapid, but accountable, recovery of MtGox.

[janos666]

Well, the official story is definitely a lie.

~800k coins can't slowly leak away unnoticed continuously during 3 years while ~400k of those supposedly lost coins lays dormant together at one place. (Those can still be lost/stolen, but definitely not like this.) It's technically impossible, let alone that it's also sound absolutely unbelievable that nobody started screaming after they lost >=10k coins.

I can imagine if Mark just ignored when he saw and/or somebody from the company told him that 1k BTC seems to be missing. "No problem, I won't bother myself by digging for some change until I need it or I do a deeper audit anyway. I am sure it's still there and I won't really bother if it's not."
But everybody should have gone mad and screaming like a little girl after noticing the loss of 10k and bark like a rabid dog after loosing 100k. No sane person/staff would leave the doors open for the next ~700k but immediately shut everything down until everything is cleared up (all coins are found or the backdoor is closed, so no more coins can be stolen in a similar way as the rest just got).
Losing your own profit is one thing. Continue on with loosing the coins of your creditors which you can't even temporarily back up with your own coins while the rest of the coins are continuing to leak away is simply insane and I am sure they could not keep that a secret. Somebody from the company would tell this to the public: "Mark Kapeles is either stealing the coins for himself and/or gone clinically insane! I know, I am XY and I worked there until yesterday."

So, I assume those coins are either got lost/stolen at once (a single catastrophe or a big heist) or they are still under Mt.Gox's control and we are yet to discover their true reasons behind the current shutdown.

Basically everything else which sounds more probable can be true, but not the official story.

And I am yet to read any theories which doesn't have at least one logical or practical problem.

[iambk]

Well, the official story is definitely a lie.

~800k coins can't slowly leak away unnoticed continuously during 3 years while ~400k of those supposedly lost coins lays dormant together at one place.

Thank you.

[sgbett]

There are many vultures that find the collapse of MtGox as something exciting and enjoyable.

Please explain to me how this has benefited anyone who owns bitcoin?  Yes, we now know that the management and software of MtGox was severely flawed and that must be corrected.  But the death of this company, without any possibility of recovery under new management, will not help anyone.

Even the people who did not have their money invested with MtGox have lost value in their bitcoin since MtGox collapsed.  Everyone who owns a single bitcoin should support a rapid, but accountable, recovery of MtGox.

They need it to happen so they don't feel butthurt about missing cheap coins if it comes back.