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Topic: Mt.Gox and void trades: Force Majeure - page 2. (Read 20585 times)

newbie
Activity: 23
Merit: 0
June 23, 2011, 06:07:38 AM
To the people threatening to sue MtGox - you guys need to get your head's examined. Any of you remember the May Flash Crash? It happened on the ACTUAL stock market - the one where the big boys play. Proctor & Gamble was trading at $0.01. Guess what happened? The trades were reversed - AND this happened without ANYONE getting "hacked".

Stop feeling so entitled - when Mtgox re-opens you'll have your bitcoins / USD back in your account. Also stop complaining about security - 90% of the people here complaining about the lack of security on the site know ZERO about the issue at hand. It's not like MtGox kept all the passwords in a txt file somewhere on his server - He made a legitimate attempt to keep them secure.
full member
Activity: 238
Merit: 100
June 23, 2011, 04:46:35 AM
Why is it that Mt. Gox keeps claiming that no BTC were stolen?Huh??
I had 20.19 BTC stolen 2 days before the news of the database leak became public.  I reported it to Mt Gox before the news became public and I have the automated email they sent back as proof.  I have not heard a peep out of them about it.
I have seen many other similar stories, where people got their BTC and/or money stolen out of their accounts as well during this same time frame. Mt. Gox's claim is that people that had money stolen had matching login information, so it couldn't have been hacked so they are not responsible.  I'm 100% positive that my BTC were stolen because my password was cracked from the leaked database.  Mt. Gox should be liable for this, and I believe I should be reimbursed.
I've posted to every single thread I've seen regarding Mt. Gox and stolen money, but they have yet to reply even once.

I for one will jump on any class action suit I can find.
full member
Activity: 182
Merit: 100
June 23, 2011, 02:21:40 AM
C'mon man, they just quoted me from the status.mtgox forum.
newbie
Activity: 42
Merit: 0
June 23, 2011, 02:11:58 AM

You: Parlay it into more money to invest in bitcoin through media appearances. Shut everyone out and demand cash for an interview.

full member
Activity: 182
Merit: 100
newbie
Activity: 52
Merit: 0
unk
member
Activity: 84
Merit: 10
June 22, 2011, 01:04:05 AM
SSL negotiation takes place before the Host: header is sent - so name-based virtual hosting doesn't work over HTTPS. Therefore with the exception of multi-domain or wildcard certificates, you're pretty much limited to one "site" per IP, unless you change the port.

If you're saying it's possible to do name-based virtualhosting (and by extension, shared hosting) over HTTPS on a single IP, please share the details of it.

my apologies. i'm tremendously out of practice. this is what going to six hours of meetings a day does to a former programmer. :)

what confused me is that you can, of course, simply distinguish on port, so the claim that the ip address (rather than the connection) needed to be unique is what raised a red flag to me. but of course, this isn't relevant to the point you were making; that tradehill uses port 443 is useful evidence of the kind you were suggesting that it's operating on its own network address.
sr. member
Activity: 308
Merit: 250
June 22, 2011, 12:53:08 AM
i know nothing about tradehill, but as a technical claim about https, this is entirely incorrect. the ssl certificates used by https authenticate a domain name; they are entirely independent of network-layer addresses.

SSL negotiation takes place before the Host: header is sent - so name-based virtual hosting doesn't work over HTTPS. Therefore with the exception of multi-domain or wildcard certificates, you're pretty much limited to one "site" per IP, unless you change the port.

If you're saying it's possible to do name-based virtualhosting (and by extension, shared hosting) over HTTPS on a single IP, please share the details of it.
full member
Activity: 196
Merit: 100
June 22, 2011, 12:25:32 AM
1000 btc i had but i really doubt mtgox will come back
i also dont care cause im a USD-millionaire already so BTC is just a playground for me... all the gains i get from playing the market i put into charities.

You want to make someone's life wonderful?

Donate to my link, I'll quit my job and write my book, make my documentary, and record my album.

It'll be worth it!!!!!!
full member
Activity: 196
Merit: 100
June 22, 2011, 12:23:35 AM
Sorry to be a bit off topic, these questions are vital to many people, so please answer:

1) The moment we pass the new verification stage, are we allowed to look at our account, or are there more delays at that stage?
2) Is MtGox still solvent? and/or Have they claimed to have enough funds?
3) Are there any verifiable sources about their (rumored) possible legal troubles in Japan?

1) Passing the verification may take some time if there is a lot of users. We'll try to make it as fast as possible.
2) No funds were stolen
3) Legal troubles?

unk
member
Activity: 84
Merit: 10
June 22, 2011, 12:20:43 AM
You can typically get a dedicated IP on shared hosting accounts - this is getting harder without justification, but here's the kicker: https (as TradeHill uses) is instant justification. https does not play nice on shared IPs.

i know nothing about tradehill, but as a technical claim about https, this is entirely incorrect. the ssl certificates used by https authenticate a domain name; they are entirely independent of network-layer addresses.
member
Activity: 103
Merit: 10
June 22, 2011, 12:19:10 AM
#99
what about the double percentage charged on trades over the weekend?

will those be rolled back too?HuhHuhHuhHuh

I'm going to ask this question until i get an answer.
If I don't get an answer, I'm going to ask again.
Then, if by chance I still don't receive an answer, I'm going to ask it again.

each time I get banned, I will ask more questions.

1 month from today,
if I still have not received an answer,
I'm going to answer each of them with a false answer.

Eventually I will populate google with many false answered questions about Mt. Gox.

So please just answer my question.

bump for good question.
sr. member
Activity: 308
Merit: 250
June 22, 2011, 12:14:54 AM
#98
kokojie has contended elswhere that Tradehill runs on a dedicated server. I'm no computer whizz but it the link appears to confirm this.

While Bit_Happy comes off as the most obvious MtGox shill I've ever seen, and I'd really like for you to be right, those reverse lookup things aren't always reliable.

You can typically get a dedicated IP on shared hosting accounts - this is getting harder without justification, but here's the kicker: https (as TradeHill uses) is instant justification. https does not play nice on shared IPs.
sr. member
Activity: 322
Merit: 252
June 21, 2011, 08:41:35 PM
#97
As others have said, Mt. Gox appears to be in serious need of PR and a spokesman. I'd add to that list real legal counsel and a few good nights sleep.

I'm sure this will fall on deaf ears, but Mark you're grinding your business away in your attempts to save it. You'd be much better off slowing down and dealing with this incident slowly and methodically instead of rushing to get back up and arguing with your customers on a message board.

Get a good night's sleep. Then spend some money. Hire a lawyer, a spokesman and an app sec consultant. Slow down and listen to what they say.

The first rule of being stuck in a hole is to stop digging.

+50 XP
LEVEL UP!!!
unk
member
Activity: 84
Merit: 10
June 21, 2011, 04:04:00 PM
#96
Constant lies and half truth's are very damaging from PR point of view.

Force majeure claim is naive to the extreme, how embarrassing.

The security field shortcomings are obvious. Do you realize that security is not a state, it is a process.

Get help, delegate things to pros, you cannot do it all yourself. It is a difficult step for a small biz operator but it has to be done.

i just wanted to lend my support to these three points that vladimir made. he has been consistently spot on regarding both security and the role of exchanges in the bitcoin economy.

particularly, mt. gox's claim of 'force majeure' is woefully misapplied here, in an almost offensively misleading way. from a youthful idealist in the forum, cutting his or her teeth on legal principles without any legal understanding, it would be embarrassing enough. from a multimillion-dollar currency exchange, it's very troubling.

i have nothing against you guys personally and have nothing to say specifically about the merits of lawsuits here, but the misinformation makes me want to remind customers that if you're planning to sue mt. gox, (1) don't take legal advice from them and (2) don't post personal information or anything about your case to the forum, as that is almost certain not to help you.

as for the rollback, if mt. gox is willing to listen to any advice from the forum, please seek legal counsel before committing to a course of action.
member
Activity: 126
Merit: 10
June 21, 2011, 03:56:47 PM
#95
As others have said, Mt. Gox appears to be in serious need of PR and a spokesman. I'd add to that list real legal counsel and a few good nights sleep.

I'm sure this will fall on deaf ears, but Mark you're grinding your business away in your attempts to save it. You'd be much better off slowing down and dealing with this incident slowly and methodically instead of rushing to get back up and arguing with your customers on a message board.

Get a good night's sleep. Then spend some money. Hire a lawyer, a spokesman and an app sec consultant. Slow down and listen to what they say.

The first rule of being stuck in a hole is to stop digging.
sr. member
Activity: 252
Merit: 251
June 21, 2011, 03:50:41 PM
#94
You are responsible for the stability of the site.
We trusted you with our money.
You are deepening the insult of your incompetence covering lies with more lies.

Who is "we" and "our"?
It seems you don't even have a single bitcoin or even a single dollar invested in bitcoins.

You just signed up to the forums after the leak happened to troll for fun because you're unemployed.

Keep the good stuff coming. I'm sure there's more of it.
p.s. I "lost" thousands of bitcoins I bought for cheap and I don't blame Mark for reversing the market.
member
Activity: 84
Merit: 10
June 21, 2011, 03:23:56 PM
#93
This seems like the most adequate place to post this question.

what about the double percentage charged on trades over the entire operating weekend?
newbie
Activity: 28
Merit: 0
June 21, 2011, 03:16:45 PM
#92
MtGox.. you really need PR and a spokesman.

Dear Mtgox. please do get some help with PR, legal and security. You can (could) afford it. Do not be so damn greedy and spend some money on this now.

Do not try to do it all yourself. You are obviously not qualified in these 3 fields.

Constant lies and half truth's are very damaging from PR point of view.

Force majeure claim is naive to the extreme, how embarrassing.

The security field shortcomings are obvious. Do you realize that security is not a state, it is a process.

Get help, delegate things to pros, you cannot do it all yourself. It is a difficult step for a small biz operator but it has to be done.


More specifically, consider the following actions for your plunge protection team:

1. Get proper legal advise, get proper terms and conditions which you have user agree to at the sign up stage and than emailed to user as a pdf file. Some t&s on one of billion web sites somewhere on the net is not applicable and pretending that it is binding in any way is laughable.

2. Get yourself ISO 27001 certified. It will cost you but it is a great step from both PR and security point of view.



This should have been done BEFORE the hack. With the money the site was making on trades, and the vulnerabilities pointed out by numerous people, this was a critical step that was skipped over due to greed.

Of course, MtGox will say it didnt matter, since they werent hacked, but instead leaked. Whichever the case, it's no secret I feel strongly that MtGox saw the potential to make real money, jumped in head first and decided to be greedy about it and not spend the money on what mattered. Anything he does now is, IMO, too little too late.
hero member
Activity: 551
Merit: 500
June 21, 2011, 03:13:43 PM
#91
MtGox.. you really need PR and a spokesman.

Isn't Adam pretty much that.
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