Mt. Gox approval queue - (updated with current numbers) - page 2.

Inedible

hero member

Activity: 700

Merit: 500

What doesn't kill you only makes you sicker!

Quote from: Minor Miner on April 13, 2013, 11:58:44 PM

Quote from: Inedible on April 13, 2013, 05:21:10 PM

Quote from: Minor Miner on April 13, 2013, 12:27:45 PM

YOU CANNOT. Unless, you use the numbers from the "deposits" (which ARE NOT yours to use) When someone deposits, the money goes into the exchange (it should be segregated but in the failures of exchanges it does not seem to have been (even corzine was not doing seg properly). If you were doing this, you are basically "borrowing" others money and using it to short to make the commission to keep the flow going).

That can't be legal.

Really? how naive are you? Mt Gox is following the money laundering laws but name the organization that is regulating how they conduct business? You are complete fools if you leave deposits there. The winklevoss' did not not (and they are spoiled idiots) and yet you do?

Anyone can make a bold claim.

Can you back it up with evidence?

Furyan

full member

Activity: 175

Merit: 102

Quote from: MPOE-PR on April 14, 2013, 05:04:50 AM

Well I'm glad to see at least some people have the sense to follow what has been going on here. Yeah, MtGox didn't "stop trade" back when BTC went up 150% in two days. They did however as the price was falling and they needed a little time to beg, borrow and steal enough to be able to settle their gaping short position. Hurr durr.

Yes, it's circumstantial evidence, and yes they are idiots. Nevertheless, never attribute to plain stupidity that which also could be explained by malice. You'll live longer that way.

PS: She.

"The only Bitcoin service that has never been hacked"... zing. Lol.

MPOE-PR

hero member

Activity: 756

Merit: 522

Well I'm glad to see at least some people have the sense to follow what has been going on here. Yeah, MtGox didn't "stop trade" back when BTC went up 150% in two days. They did however as the price was falling and they needed a little time to beg, borrow and steal enough to be able to settle their gaping short position. Hurr durr.

Yes, it's circumstantial evidence, and yes they are idiots. Nevertheless, never attribute to plain stupidity that which also could be explained by malice. You'll live longer that way.

PS: She.

Minor Miner

legendary

Activity: 2478

Merit: 1020

Be A Digital Miner

Quote from: Inedible on April 13, 2013, 05:21:10 PM

Quote from: Minor Miner on April 13, 2013, 12:27:45 PM

YOU CANNOT. Unless, you use the numbers from the "deposits" (which ARE NOT yours to use) When someone deposits, the money goes into the exchange (it should be segregated but in the failures of exchanges it does not seem to have been (even corzine was not doing seg properly). If you were doing this, you are basically "borrowing" others money and using it to short to make the commission to keep the flow going).

That can't be legal.

Really? how naive are you? Mt Gox is following the money laundering laws but name the organization that is regulating how they conduct business? You are complete fools if you leave deposits there. The winklevoss' did not not (and they are spoiled idiots) and yet you do?

Inedible

hero member

Activity: 700

Merit: 500

What doesn't kill you only makes you sicker!

Quote from: Minor Miner on April 13, 2013, 12:27:45 PM

YOU CANNOT. Unless, you use the numbers from the "deposits" (which ARE NOT yours to use) When someone deposits, the money goes into the exchange (it should be segregated but in the failures of exchanges it does not seem to have been (even corzine was not doing seg properly). If you were doing this, you are basically "borrowing" others money and using it to short to make the commission to keep the flow going).

That can't be legal.

Minor Miner

legendary

Activity: 2478

Merit: 1020

Be A Digital Miner

Quote from: Inedible on April 13, 2013, 12:22:01 PM

Quote from: Minor Miner on April 13, 2013, 11:38:58 AM

...some exchange wanted to keep flow going and kept issuing BTC to people like the Winklevoss' that were withdrawing and the market kept going up at an incredible pace (and now the exchange is short BTC)...

I don't understand. How can you issue BTC you don't have?

YOU CANNOT. Unless, you use the numbers from the "deposits" (which ARE NOT yours to use) When someone deposits, the money goes into the exchange (it should be segregated but in the failures of exchanges it does not seem to have been (even corzine was not doing seg properly). If you were doing this, you are basically "borrowing" others money and using it to short to make the commission to keep the flow going).

Inedible

hero member

Activity: 700

Merit: 500

What doesn't kill you only makes you sicker!

Quote from: Minor Miner on April 13, 2013, 11:38:58 AM

...some exchange wanted to keep flow going and kept issuing BTC to people like the Winklevoss' that were withdrawing and the market kept going up at an incredible pace (and now the exchange is short BTC)...

I don't understand. How can you issue BTC you don't have?

Inedible

hero member

Activity: 700

Merit: 500

What doesn't kill you only makes you sicker!

Quote from: hobbes on April 13, 2013, 11:24:04 AM

@Inedible: this thread is a very good idea.

If you could post every time there is an update so everybody is notified it would be nice.

That was my intention but I've just remembered editing a post (the top post) doesn't actually mark the thread 'unread' for everyone.

I'll new-post into the thread with each update.

Unfortunately I've not heard back from anyone yet.

I was hoping to do a daily update to see how many accounts are made daily.

Minor Miner

legendary

Activity: 2478

Merit: 1020

Be A Digital Miner

Quote from: MPOE-PR on April 10, 2013, 01:59:18 PM

Quote from: Tronlet on April 09, 2013, 12:47:19 PM

I invite you to back up your claims against Mt. Gox. Certainly what you say is possible, but anything's possible.

So far Tux does the lie-and-run thing, so you're setting an impossible goalpost. With a (provenly) dishonest operator, the only thing left is circumstantial evidence, unless someone hacks it again.

Quote from: Inedible on April 10, 2013, 12:52:57 AM

What's the criteria for your link to be 'golden'ed?

Pissing off a coupla dozen idiots.

Or saying something that a few people REALLY do not like and those people make MULTIPLE accounts. MPOE-PR may not be the most sensitive of people, but what he writes is usually spot on (although I disagree with many of the opinions, I agree with some of the really important ones). Just a question for everyone to think about:
You CANNOT sell bitcoin you do not have (because you have to settle with the unique number that is confirmed in the block chain IF people use FIAT to buy BTC and they remove the BTC from their trading account). This is a fact.
So, if tons of new people came to buy BTC and wanted to store it in their own ways (say kind of like the Winklevoss' already said that they did), and some exchange wanted to keep flow going and kept issuing BTC to people like the Winklevoss' that were withdrawing and the market kept going up at an incredible pace (and now the exchange is short BTC), WHAT IS THE BEST THING THAT COULD EVER HAPPEN TO AN EXCHANGE THAT IS SHORT A LIMITED FLOAT SECURITY THAT CANNOT BE SUBSTITUTED?

hobbes

full member

Activity: 128

Merit: 107

@Inedible: this thread is a very good idea.

If you could post every time there is an update so everybody is notified it would be nice.

Inedible

hero member

Activity: 700

Merit: 500

What doesn't kill you only makes you sicker!

Can one of you guys give us an update on where you are in the queue?

PuertoLibre

legendary

Activity: 1890

Merit: 1003

Quote from: Inedible on April 08, 2013, 09:43:02 AM

I guess this means it's likely that the price is going to continue to rise although some will be:

1) signing up and abandoning the account
2) opening an account to sell their bitcoins
3) waiting for the price to drop before buying

so don't expect every new account to be buying.

DDos'ing the account verification by adding super long lines?

Inedible

hero member

Activity: 700

Merit: 500

What doesn't kill you only makes you sicker!

Anyone have an update on the current validation count?

MPOE-PR

hero member

Activity: 756

Merit: 522

Quote from: Tronlet on April 09, 2013, 12:47:19 PM

I invite you to back up your claims against Mt. Gox. Certainly what you say is possible, but anything's possible.

So far Tux does the lie-and-run thing, so you're setting an impossible goalpost. With a (provenly) dishonest operator, the only thing left is circumstantial evidence, unless someone hacks it again.

Quote from: Inedible on April 10, 2013, 12:52:57 AM

What's the criteria for your link to be 'golden'ed?

Pissing off a coupla dozen idiots.

Tronlet

full member

Activity: 224

Merit: 100

Quote from: Inedible on April 10, 2013, 12:52:57 AM

Quote from: Tronlet on April 09, 2013, 10:41:06 AM

MPOE-PR appears to be doing something known as "unfounded accusations and trolling". I advise you disregard them, their Ignore button is gold for a reason.

I'd never noticed some people have gold Ignore buttons.

What's the criteria for your link to be 'golden'ed?

Basically, the more people that ignore you, the golder your Ignore button becomes. It's a nifty way of showing who tends to be ignored by people a lot, for whatever reason that might be.

Here's theymos' post when he actually implemented it, that has some more detail on how it's exactly implemented. https://bitcointalksearch.org/topic/m.796962

Edit: And for completion, one more quirk of the ignore system: every 500 posts you have makes one of your ignores not count. So someone with 1000 posts who's had 8 established members ignore them would only have an ignore count of 6. Source: https://bitcointalksearch.org/topic/m.1584088

Inedible

hero member

Activity: 700

Merit: 500

What doesn't kill you only makes you sicker!

Quote from: Tronlet on April 09, 2013, 10:41:06 AM

MPOE-PR appears to be doing something known as "unfounded accusations and trolling". I advise you disregard them, their Ignore button is gold for a reason.

I'd never noticed some people have gold Ignore buttons.

What's the criteria for your link to be 'golden'ed?

Tronlet

full member

Activity: 224

Merit: 100

Quote from: MPOE-PR on April 09, 2013, 11:57:17 AM

Quote from: Tronlet on April 09, 2013, 10:41:06 AM

MPOE-PR appears to be doing something known as "unfounded accusations and trolling". I advise you disregard them, their Ignore button is gold for a reason.

People have a year+ history of claiming this about what I say, only to be humiliated a few months later. But it's okay, because by then their mistaken assumptions and hardheadedness has already cost them all their BTC, and so they can disappear into the void, leaving room for a new generation of idiots to repeat the same mistakes.

Read my old posts, it will make you much smarter.

Sorry, don't have the time, been around for a bit longer than you have anyway, and never been scammed, nor have I messed up. I'm guessing you were calling out pirate@40 as a scammer, but that's not exactly notable. Who wasn't, aside from the delusional investors?

I invite you to back up your claims against Mt. Gox. Certainly what you say is possible, but anything's possible.

MPOE-PR

hero member

Activity: 756

Merit: 522

Quote from: Inedible on April 09, 2013, 10:07:04 AM

I wasn't around during the Bitcoinica fiasco so don't really know the details of how they operated their liquidity. I only know that they were hacked and lost a great deal of Bitcoin.

Not quite accurate. Among the other fraudulent/scammy things Bitcoinica was doing and for which they were famous, consider this email:

Quote from: Tronlet on April 09, 2013, 10:41:06 AM

MPOE-PR appears to be doing something known as "unfounded accusations and trolling". I advise you disregard them, their Ignore button is gold for a reason.

People have a year+ history of claiming this about what I say, only to be humiliated a few months later. But it's okay, because by then their mistaken assumptions and hardheadedness has already cost them all their BTC, and so they can disappear into the void, leaving room for a new generation of idiots to repeat the same mistakes.

Read my old posts, it will make you much smarter.

Joost

member

Activity: 68

Merit: 10

Quote from: Inedible on April 09, 2013, 10:07:04 AM

I wasn't around during the Bitcoinica fiasco so don't really know the details of how they operated their liquidity. I only know that they were hacked and lost a great deal of Bitcoin.

Just curious as to why liquidity needs to come from Mt.Gox and not from the market?

Isn't it the act of buying/selling from users the source of liquidity?

Mt.Gox isn't a market maker is it?

It does come from the market, but there is often quite some time between depositing and withdrawing. It would be unsafe if Mtgox kept all that money (both fiat and BTC) within reaching distance. In case of a hack, it is important that only a fraction of their money is 'hot', while the main volume is in cold storage, preferably entirely offline.

There is a security/user experience balance in deciding how much they want to keep in hot storage to account for daily withdrawals. Wink

Tronlet

full member

Activity: 224

Merit: 100

Quote from: Inedible on April 08, 2013, 08:12:10 PM

Quote from: MPOE-PR on April 08, 2013, 06:29:03 PM

Sounds like MtGox was in fact running fractional reserve, their safety margins are running out and so they're using this new technique to limit outflows.

Pretty bad in a Stock Generation sort of way.

They don't have the Bitcoin or the fiat?

MPOE-PR appears to be doing something known as "unfounded accusations and trolling". I advise you disregard them, their Ignore button is gold for a reason.

Topic: Mt. Gox approval queue - (updated with current numbers) - page 2. (Read 29329 times)