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Topic: Coinbase CONFIRMS MTGOX INSOLVENCY (edit coinbase removed "insolvency" from titl - page 2. (Read 6537 times)

sr. member
Activity: 280
Merit: 250
The self-proclaimed "world's largest bitcoin exchange" is basically saying it is to hard to take a collection of their own addresses, count the amount of BTC constituted by all unspent outputs in that wallet, and compare it with the expected balance.

The question is - how many other exchanges have been robbed blind and aren't aware of it?  This exchange has lost 750,000 BTC.  My God, you'd think that would be like trying to drive a dumptruck full of nitroglycerin through an obstacle course.  Yet somehow, this was pulled off.  Gox 'n' company might be unusually idiotic, but don't bet on it.  Perhaps there is more to this story than meets the eye.  What if TX malleability wasn't really to blame?  Another vulnerability perhaps?  Are other exchanges being milked dry before our very eyes?  Who knows.
legendary
Activity: 1946
Merit: 1006
Bitcoin / Crypto mining Hardware.
Anyone wanna buy my id and be a part of history? Cheesy
legendary
Activity: 1946
Merit: 1035
Putting the blame on Bitcoin and TX malleability for their insolvency was pretty lame.

The self-proclaimed "world's largest bitcoin exchange" is basically saying it was too hard to take a collection of their own addresses, count the amount of BTC contained in all unspent outputs sent to these addresses, and compare it with the expected balance.

Did they have any accounting checks in the first place? I'm starting to doubt it, as their incompetence is notoriously off limits.

Even I have a local copy of the blockchain in a (big) SQL database. SELECT SUM(...) FROM ... JOIN ... ON ... WHERE ... Roll Eyes
legendary
Activity: 3878
Merit: 1193
it's over, the fat lady's done singing.

Where did you hear Mark sing?
sr. member
Activity: 448
Merit: 250
People, people, stop. Get it through your skull: MtGox is done, it's over, the fat lady's done singing.
hero member
Activity: 574
Merit: 500
Kinda surprising that the joint statement responding to the MtGox insolvency statement came out before the actual MtGox insolvency statement.  I have no reason to doubt it, just pointing out how MtGox even screwed up a press release about their own death.

What more can u expect from these ass fucking hats !
legendary
Activity: 896
Merit: 1000
"[–]SarahCoinBit 1 point 3 minutes ago
It was a pleasure serving this community..marion and myself just got laid off."

This is Support @ Gox...
fake?

Considering the avalanche of supporting evidence, I think it's likely true.


Thats a pretty big deal, bigger than all the theories and unconfirmed articles floating around.

So, if there is proof they were laid off, that would be nice!

Sure, I understand...

I just quoted her directly from Reddit. I don't have any additional information.
Link..?
hero member
Activity: 1470
Merit: 504
"[–]SarahCoinBit 1 point 3 minutes ago
It was a pleasure serving this community..marion and myself just got laid off."

This is Support @ Gox...
fake?

Considering the avalanche of supporting evidence, I think it's likely true.


Thats a pretty big deal, bigger than all the theories and unconfirmed articles floating around.

So, if there is proof they were laid off, that would be nice!

Sure, I understand...

I just quoted her directly from Reddit. I don't have any additional information.
legendary
Activity: 896
Merit: 1000
"[–]SarahCoinBit 1 point 3 minutes ago
It was a pleasure serving this community..marion and myself just got laid off."

This is Support @ Gox...
fake?

Considering the avalanche of supporting evidence, I think it's likely true.


Thats a pretty big deal, bigger than all the theories and unconfirmed articles floating around.

So, if there is proof they were laid off, that would be nice!
sr. member
Activity: 378
Merit: 255
hero member
Activity: 1470
Merit: 504
"[–]SarahCoinBit 1 point 3 minutes ago
It was a pleasure serving this community..marion and myself just got laid off."

This is Support @ Gox...
fake?

Considering the avalanche of supporting evidence, I think it's likely true.
sr. member
Activity: 353
Merit: 250
What do you guys make from this part ?
Quote
the following services will be coordinating efforts over the coming days to publicly reassure customers and the general public that all funds continue to be held in a safe and secure manner:
sr. member
Activity: 448
Merit: 250
I've known that they were going to die and I've wished for their demise but this is a bitter moment.

Rest in peace, mtgox!

legendary
Activity: 896
Merit: 1000
"[–]SarahCoinBit 1 point 3 minutes ago
It was a pleasure serving this community..marion and myself just got laid off."

This is Support @ Gox...
fake?
full member
Activity: 151
Merit: 100
Kinda surprising that the joint statement responding to the MtGox insolvency statement came out before the actual MtGox insolvency statement.  I have no reason to doubt it, just pointing out how MtGox even screwed up a press release about their own death.

Somehow this seems exactly right (not) coming from them. Looks like we're all finally sick of waiting on incompetence.
hero member
Activity: 588
Merit: 500
Kinda surprising that the joint statement about the MtGox insolvency statement came out before the MtGox insolvency statement.  I have no reason to doubt it, just point how MtGox even screwed up a press release.

Failing to announce their insolvency to the world themselves was probably the last straw of their incommensurable incompetence.

If they really are insolvent...then they probably don't have the funds to do a PR, or should legally allocate those funds for distribution among their creditors.  I'd guess their CEO or lawyer would just make a statement to the press.
legendary
Activity: 1946
Merit: 1035
Kinda surprising that the joint statement about the MtGox insolvency statement came out before the MtGox insolvency statement.  I have no reason to doubt it, just point how MtGox even screwed up a press release.

Failing to announce their insolvency to the world themselves was probably the last straw of their incommensurable incompetence.

so where is everyone to spam the thread with "FUD this is bullshit" ...? can we please now finally accept that gox is insolvent?

Yes we can
sr. member
Activity: 350
Merit: 253
so where is everyone to spam the thread with "FUD this is bullshit" ...? can we please now finally accept that gox is insolvent?
donator
Activity: 1218
Merit: 1079
Gerald Davis
Kinda surprising that the joint statement responding to the MtGox insolvency statement came out before the actual MtGox insolvency statement.  I have no reason to doubt it, just pointing out how MtGox even screwed up a press release about their own death.
legendary
Activity: 1022
Merit: 1000
Well that is game, set, and now just waiting for official Gox statement.  So sorry for users of Gox and the broader BTC community.
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