Is Gox to be blamed?

[Brad Pitt]

Last year when MtGox apparently got "hacked" we saw bitcoin coming down to $100(for a few minutes) from $1200.
Since then bitcoin has been constantly going down 👇.
If gox thing didn't happen do you think that bitcoin still would have been at around $1000?
So is gox to be blamed for this downfall?

I think it is to be blamed as the fake trades artificially inflated the price, but bitcoin is bigger than one exchange and I believe it will bounce back eventually. We need to keep the faith and keep spreading adoption in the meantime, though.

[Angelina Jolie]

Last year when MtGox apparently got "hacked" we saw bitcoin coming down to $100(for a few minutes) from $1200.
Since then bitcoin has been constantly going down 👇.
If gox thing didn't happen do you think that bitcoin still would have been at around $1000?
So is gox to be blamed for this downfall?

I think it is to be blamed as the fake trades artificially inflated the price, but bitcoin is bigger than one exchange and I believe it will bounce back eventually. We need to keep the faith and keep spreading adoption in the meantime, though.

FIAT price has nothing to do with the success of Bitcoin. Do u count Apple's success with its share price ?

[dmugetsu]

I think not,because the unstable price and it can change anytime.

[smalltimer]

gox is partially to blame, absolutely. But what was the final nail in the coffin was it's own inflation.

[thrax]

Last year when MtGox apparently got "hacked" we saw bitcoin coming down to $100(for a few minutes) from $1200.
Since then bitcoin has been constantly going down 👇.
If gox thing didn't happen do you think that bitcoin still would have been at around $1000?
So is gox to be blamed for this downfall?

Bitcoin has hit peak prices and crashed down again too often to blame Gox. It would have happened anyway.

[SirChiko]

Bitcoin reached 1200 due to willybot. That was an inflated price. Read more about it here => http://willyreport.wordpress.com/2014/05/25/the-willy-report-proof-of-massive-fraudulent-trading-activity-at-mt-gox-and-how-it-has-affected-the-price-of-bitcoin/

I agree that at that time gox was manipulating the prices a lot, but still they were able to make bitcoin reach 1200$ and this price automatically got reflected on other exchanges too.
But it wasn't "just" the willy bot that caused this, at that time halvening also happened and that reduced the dumping in the exchanges.

Still if gox was still there I believe that the price would not have gone down to such disastrous figures.
Just wanted to know people's view.

Yes you can say that gox effect much for the bitcoins prices to fall down but that not only cause of price increase or decrease. The number of demand from other peoples are the major cause I think

What kind of demand are you talking about? The buying demand of the people? If that would have been there then the prices would have increased instead of falling down.

Logicaly buying demand gone down after alot of investors got scared that bitcoin could have "security bugs" but it's basicaly dox to blame.
Willy is FUD.

[stellar69]

Last year when MtGox apparently got "hacked" we saw bitcoin coming down to $100(for a few minutes) from $1200.
Since then bitcoin has been constantly going down 👇.
If gox thing didn't happen do you think that bitcoin still would have been at around $1000?
So is gox to be blamed for this downfall?

1200$ was only of gox and localbitcoins and 100$ was only on gox but there was a lot of Bitcoin skepticism because of gox and there has a lot of skepticism now because of bitstamp. If bitstamp only lost 19 000 BTC and can prove they are solvent, the price should recover.

I sometimes wonder that why don't gambling websites(without any investments) get hacked? Why is it always when there a lot of people's money involved, you get goxed?

[stellar69]

Last year when MtGox apparently got "hacked" we saw bitcoin coming down to $100(for a few minutes) from $1200.
Since then bitcoin has been constantly going down 👇.
If gox thing didn't happen do you think that bitcoin still would have been at around $1000?
So is gox to be blamed for this downfall?

I think it is to be blamed as the fake trades artificially inflated the price, but bitcoin is bigger than one exchange and I believe it will bounce back eventually. We need to keep the faith and keep spreading adoption in the meantime, though.

Gox was the big daddy! It was the biggest exchange and yes so I believe that one exchange could have brought fucking drastic changes.

[finlon]

Last year when MtGox apparently got "hacked" we saw bitcoin coming down to $100(for a few minutes) from $1200.
Since then bitcoin has been constantly going down 👇.
If gox thing didn't happen do you think that bitcoin still would have been at around $1000?
So is gox to be blamed for this downfall?

You could also call it the reason why a lot of people gave up on bitcoin. A lot of people lost a lot of money because of it.

[stellar69]

I believe by late 2013 gox wasn't the leading exchange anymore.

Gox was leading. It held the largest amount of bitcoins at that time. Btc-e and gox were the major players. I saw a lot of people buying on btc-e and selling on gox.

[AmazonStuff]

As the biggest theft in bitcoin history (750 000 - 850 000 BTC lost) it is probably the only reason why bitcoin price is going down. Why? Whoever stole those coins didn't invested anything, he didn't work to get those coins, he is not emotionally attached to those coins, it is profitable for him to dump them at whatever price it is, he is probably capable of mixin and hiding BTC trails, he is the whalebeardumper, he sells those coins completely legally on the big number of exchanges and he is the reason why our economy is having some rough time.

[SirChiko]

As the biggest theft in bitcoin history (750 000 - 850 000 BTC lost) it is probably the only reason why bitcoin price is going down. Why? Whoever stole those coins didn't invested anything, he didn't work to get those coins, he is not emotionally attached to those coins, it is profitable for him to dump them at whatever price it is, he is probably capable of mixin and hiding BTC trails, he is the whalebeardumper, he sells those coins completely legally on the big number of exchanges and he is the reason why our economy is having some rough time.

How do you know it wasn't the CEO? 

[stellar69]

As the biggest theft in bitcoin history (750 000 - 850 000 BTC lost) it is probably the only reason why bitcoin price is going down. Why? Whoever stole those coins didn't invested anything, he didn't work to get those coins, he is not emotionally attached to those coins, it is profitable for him to dump them at whatever price it is, he is probably capable of mixin and hiding BTC trails, he is the whalebeardumper, he sells those coins completely legally on the big number of exchanges and he is the reason why our economy is having some rough time.

Werent some coins returned back to the people?

As the biggest theft in bitcoin history (750 000 - 850 000 BTC lost) it is probably the only reason why bitcoin price is going down. Why? Whoever stole those coins didn't invested anything, he didn't work to get those coins, he is not emotionally attached to those coins, it is profitable for him to dump them at whatever price it is, he is probably capable of mixin and hiding BTC trails, he is the whalebeardumper, he sells those coins completely legally on the big number of exchanges and he is the reason why our economy is having some rough time.

How do you know it wasn't the CEO? 

how does it matter that who was it? A thief is a thief.

[dropt]

So I've seen the number that 250,000 BTC sold off. While that's probably people misinterpreting the trading volume as pure selloff volume, wouldn't that be SOME SHIT if we found it was the remaining GOX coins being liquidated to repay creditors?   

GOXED FROM THE GRAVE!

[Melbustus]

So I've seen the number that 250,000 BTC sold off. While that's probably people misinterpreting the trading volume as pure selloff volume, wouldn't that be SOME SHIT if we found it was the remaining GOX coins being liquidated to repay creditors?   

GOXED FROM THE GRAVE!

I still feel like there's potentially one more Goxing out there somewhere, somehow.

[picolo]

As the biggest theft in bitcoin history (750 000 - 850 000 BTC lost) it is probably the only reason why bitcoin price is going down. Why? Whoever stole those coins didn't invested anything, he didn't work to get those coins, he is not emotionally attached to those coins, it is profitable for him to dump them at whatever price it is, he is probably capable of mixin and hiding BTC trails, he is the whalebeardumper, he sells those coins completely legally on the big number of exchanges and he is the reason why our economy is having some rough time.

It is possible that the heackers are not very interested in BTC, they may keep some BTC but they prefer to cash out to have some fiat.

[stellar69]

As the biggest theft in bitcoin history (750 000 - 850 000 BTC lost) it is probably the only reason why bitcoin price is going down. Why? Whoever stole those coins didn't invested anything, he didn't work to get those coins, he is not emotionally attached to those coins, it is profitable for him to dump them at whatever price it is, he is probably capable of mixin and hiding BTC trails, he is the whalebeardumper, he sells those coins completely legally on the big number of exchanges and he is the reason why our economy is having some rough time.

It is possible that the heackers are not very interested in BTC, they may keep some BTC but they prefer to cash out to have some fiat.

You should stop believing in the "hackers" theory. It was the company itself and mark who ran away with the coins. Everything that happened after it(bankruptcy claims and shit) were all fake just to calm down people.

[puzzel.me]

Last year when MtGox apparently got "hacked" we saw bitcoin coming down to $100(for a few minutes) from $1200.
Since then bitcoin has been constantly going down 👇.
If gox thing didn't happen do you think that bitcoin still would have been at around $1000?
So is gox to be blamed for this downfall?

Agree that gox was behind pushing the coin down to such lows. But now we are seeing a new co consistent low. What caused this?

[waterpile]

Last year when MtGox apparently got "hacked" we saw bitcoin coming down to $100(for a few minutes) from $1200.
Since then bitcoin has been constantly going down 👇.
If gox thing didn't happen do you think that bitcoin still would have been at around $1000?
So is gox to be blamed for this downfall?

Agree that gox was behind pushing the coin down to such lows. But now we are seeing a new co consistent low. What caused this?

scammers and hackers may have caused it. they are getting big chunks of coin doing bad things

[stellar69]

Last year when MtGox apparently got "hacked" we saw bitcoin coming down to $100(for a few minutes) from $1200.
Since then bitcoin has been constantly going down .
If gox thing didn't happen do you think that bitcoin still would have been at around $1000?
So is gox to be blamed for this downfall?

Agree that gox was behind pushing the coin down to such lows. But now we are seeing a new co consistent low. What caused this?

scammers and hackers may have caused it. they are getting big chunks of coin doing bad things

would you care to specify that what kind of hackers and spammers are you talking about?
what was the latest scam in recent times that could have caused this low?