Topic: Mt. Gox - To resume withdrawals Feb 20th - New ATH approaching - page 6. (Read 10430 times)

So instead of using the blockchain itself, they're using blockchain.info?

Does this reek of WTF are these people smoking down there?  Haven't they learned a single lesson about how you should rely ONLY on the blockchain itself?  Or are they just not competent to implement it?

Neither is particularly bracing news.

It would seem so.

If this is the case then I'm even more unsure of their "custom" implementation of the bitcoin protocol.

Why the hell does Gox need to use blockchain.info identifiers??? That is absurd.

The simple way to look for a transaction in the blockchain is
if ( list of inputs = list of inputs AND
     list of outputs = list of outputs AND
     amounts = amounts )
then
  transaction found

Instead Gox has insisted that they need an identifier because they want to keep doing
if( tx id = tx id )
then
  transaction found

Seriously do these guys have zero programmers on staff, can they not pick up an Intro to C book?

I wasn't no. I think that Gox is a fucking rathole and Karpeles is basically a crook. As I said, I was putting the most charitable spin on events that I possibly could.

Are u aware of the fact that Gox has an unlimited trading account, with unlimited coins and $. It´s of course not official. The crash to 0.01 in 2010 was due to the fact that somebody hacked into this "unlimited" account and sold until the price went to 0.01. After that all trades have been rolled back. And they called it i think an "auditor" account, but of course denied that an account with unlimited supply of $/BTC exists.

Taking the most charitable view on things:

Gox has been defrauded out of a shit ton of BTC, they are now insolvent and possibly operating in negative equity, they halt BTC withdrawals which causes the price to plummet as panicked investors rush to get into USD....and you think Karpeles and co aren't taking the liberty of arbing the fuck out of all those cheap coins to recover some of their losses?

A more honest thing to do would be for Gox to suspend trading until the problem was fixed. This would provide panicked investors with no outlet for crashing the Goxcoin price, or rather selling into Karpeles koffers as his bots crash the price. This wasn't done, because Gox isn't an honest place. It's a fucking rathole and anyone would have to be certifiable to go sending money there thinking that they are getting in on a cheap Bitcoin bonanza. Most likely, these 'cheap Bitcoins' aren't for you. A SEPA transaction to another €uro account takes just 1 day. MtGox has your money and probably hundreds of thousands more besides hoping to get in on some arbitrage action and lsoing out on cash stream to gamble in other financial sectors. At the touch of a button, he could fund all your accounts, but that would be letting y'all in on his action. If you get your funds cleared when Bitcoin is still around $200-$300 on Gox, then it is cos its going down further. Otherwise, you will find your account being credited at much more normalised price levels and you will be weeping waiting for weeks trying to extract your funds in dribs and drabs.

+1

What doesn't kill Bitcoin only makes it stronger.

If soon^TM, really comes to pass, there will be a huge price surge on Gox has everyone rushes to get their funds out of Gox, this will likely be accompanied by a fools rally on Bitstamp which will be soon be brought right back down to earth by the flood of BTC retrieved from Gox being cashed out immediately by a big bunch of exasperated BTC long term bitcoin holders/investors who have had the trauma of seeing their fortune holed up in this rat-hole of an exchange.

Yes,  hopefully we can move beyond GOX.  I do think this Gox fiasco has shown us what the true low is (the low on Gox is of course extreme) but the other exchanges hovering around $600 or so is nice to see, honestly.  Some seem to speculate we will go down from here.  I am not sure what news could cause it to drop further?  The most well known exchange possibly going bankrupt due to a potential "bug" in the Bitcoin code is probably about as bad as any news will ever get so we should approach an ATH soon.

Yes. And hopefully GOX will not be in the Bitcoin world anymore and just a memory.

Just because withdrawals will be reopened with "LIMITS" does not mean ATH is upon us. I disagree that this will be the cause for an ATH.

We can thank MTGOX for the bear sentiment building in the markets though.

Essentially this would be gambling. But then again trading is the same thing.

When the next ATH comes, it will have nothing to do with Gox or any other exchange.

It will be caused by adoption and the continuing development of the Bitcoin infrastructure and possibly assisted by media coverage such as the Gawker articles in spring 2011 or the coverage of the Cypriot banking crisis in spring 2013 or of the Chinese Bitcoin adoption craze of autumn 2013.

Don't forget the illuminati.

This is perfect:

1. Put fake bid order to push up the price
2. Sell at 900s
3. Crash the market by announcing a long-known bug
4. Use the bug to DDOS the network and further crash the price
5. Pull all fake bid order and let the price free fall
6. Buy at 200s
7. Reopen withdrawal with restriction
8. Goto step 1

And who's sock puppet are you, newbie?

And fonzi not? I feel I was being nice. Im sorry did I hurt your feelings

Erm, biofore could you make clear what that was about. Otherwise it just looks like you being extremely rude.

Fonzi you are scum this has been proven and stated by some of or nearly all the most liked and trusted members. No one cares what you think or trusts anything you say. Definition of bottom feeding scum. Also I know you have NO Bitcoins hahahahaha

Nha, they made Bitcoin bigger and now other ppl/company's around the world will be buying due of the media frenzy, its common sense man.

Do you realy think this is it? lol 2013 was just a main-stream kick-off. I think you need to keep things real

  okay, i understand your intentions.
BTC withdrawls might however be enabled(limited? ) or however. I just don´t believe that one can use the situation to profit.
Please keep me up to date if they credit your account before the gap closes(in whichever direction). I reckon that deposits might somehow be a bit delayed at the moment...
But that´s just one of many Gox  theories right now.