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post #13831 of 22312
So anybody else following this MTgox debacle. Quite amusing to say the least.

Can't believe their incompetence and feel sorry for people who had btc or fiat with them.
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post #13832 of 22312
Quote:
Originally Posted by Crizume View Post

So anybody else following this MTgox debacle. Quite amusing to say the least.

Can't believe their incompetence and feel sorry for people who had btc or fiat with them.

I logged back in today to see if I could try and purchase some cheap BTC with them. It looks like they got rid of the option to purchase BTC with cash at a local bank. Darn... that plus I wouldn't be able to withdraw any of it anyway.

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post #13833 of 22312
They got rid of more than that. Their twitter feed got completely deleted and their website pretty much did too. Their are a couple leaked statements claiming insolvency but no official word from MTgox.
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post #13834 of 22312
Quote:
Originally Posted by Crizume View Post

So anybody else following this MTgox debacle. Quite amusing to say the least.

Can't believe their incompetence and feel sorry for people who had btc or fiat with them.


My god.

http://blog.blockchain.info/2014/02/25/joint-statement/

http://www.circle.com/2014/02/24/joint-statement-regarding-insolvency-mt-gox/

Bitcoin prices tumbling. Hopefully we'll see a quick rebound in the coming days. With Mtgox out of the way, we might finally return back to the 700-800 price in a couple weeks.
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post #13835 of 22312
Now might actually be the time to buy in...
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post #13836 of 22312
Quote:
Originally Posted by Syan48306 View Post

My god.

http://blog.blockchain.info/2014/02/25/joint-statement/

http://www.circle.com/2014/02/24/joint-statement-regarding-insolvency-mt-gox/

Bitcoin prices tumbling. Hopefully we'll see a quick rebound in the coming days. With Mtgox out of the way, we might finally return back to the 700-800 price in a couple weeks.

The Original article on blockchain had insolvency in the title and statement but quickly got edited minutes after posting. MTgox is clear to blame but i feel alot of the bitcoin community "whales" had clear knowledge of what was going on at mtgox.

That whale who had 11k+ btc and dumped 6k of it on coinbase yesterday at $579 was most likey an insider.

Your avatar pretty much sums up what us little fish can do. Sit here and watch the show and stick it out for the long run.

As for buying in I feel it might go lower when mtgox comes out to the public and might take a while (months) to go back up to 700+ as peoples trust in the system is no near where it should be.
Edited by Crizume - 2/24/14 at 8:58pm
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post #13837 of 22312
Anyone thinking this gox situation will somehow make btc prices go back up is dreaming. This will cause significant harm to BTC, hopefully its only temporary. Lost about 3 BTC in this mess but easy come easy go.
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post #13838 of 22312
Quote:
Originally Posted by scutzi128 View Post

Anyone thinking this gox situation will somehow make btc prices go back up is dreaming. This will cause significant harm to BTC, hopefully its only temporary. Lost about 3 BTC in this mess but easy come easy go.


Well, on the other hand, the drop in Bitcoin prices over the last two weeks was becuase of MtGox FUD and tumbling prices on that exchange. The other exchanges actually proved to be fairly resilient staying in the 600 ish range. I suspect after people get over the shock, Bitstamp and BTC-E will rebound very quickly once they start going back up.

EDIT: Personally, I'm actually kind of glad MtGox finally died. They really needed to go. For such a large and old exchange to be so irresponsible and non user friendly, they were doing bitcoin a big disservice. They weren't acting in the best interest of Bitcoin either by dragging this out for as long as they can.

Contrast that with the Silk Road 2 guy who was up front with that hacking and vowing to set things straight. To think that MtGox can be so different is disappointing.
Edited by Syan48306 - 2/24/14 at 9:04pm
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post #13839 of 22312
Quote:
Originally Posted by Syan48306 View Post

Well, on the other hand, the drop in Bitcoin prices over the last two weeks was becuase of MtGox FUD and tumbling prices on that exchange. The other exchanges actually proved to be fairly resilient staying in the 600 ish range. I suspect after people get over the shock, Bitstamp and BTC-E will rebound very quickly once they start going back up.

EDIT: Personally, I'm actually kind of glad MtGox finally died. They really needed to go. For such a large and old exchange to be so irresponsible and non user friendly, they were doing bitcoin a big disservice. They weren't acting in the best interest of Bitcoin either by dragging this out for as long as they can.

Contrast that with the Silk Road 2 guy who was up front with that hacking and vowing to set things straight. To think that MtGox can be so different is disappointing.

I just fear that this has scared away a lot of potential investors and thats what made btc grow so much in 2013.
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post #13840 of 22312
I hope they aren't as malevolent as to deliberately take Bitcoin's price down with them. A few people have said a while ago, on the last Gox DDOS attack, that Gox is like that drunk friend who forgets to pay you back and not as loyal as he used to be.

A lot of FUD is built on ignorance. Gox is not by any means the only big bitcoin exchange around, and the prices seem to react as if it is. Also it being based in Japan might have hurt it as well. And its activity had already been slipping behind for many weeks.
Edited by ccRicers - 2/24/14 at 9:14pm
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