MTGOX crashed and burned, website is on full blast nuclear explosion dead

Lauda

legendary

Activity: 2674

Merit: 3000

Terminated.

Quote from: Tonka Branded Truck on February 25, 2014, 12:25:34 AM

Mtgox is dead. Lets move on. Mt gox is irrelevant now.

Quote

The document also evokes sweeping rhetoric aimed to tie Mt. Gox’s fate to that of the broader bitcoin community: “The likely consequences will be larger than this localized financial damage, and we believe that the benefits of keeping MtGox stable and running outweigh the risks. This isn’t about saving MtGox anymore.”

They suggested the demise of its brand could set bitcoin back “five to 10 years”, and that governments should and would react “swiftly and harshly”. “At the risk of appearing hyperbolic, this could be the end of Bitcoin, at least for most of the public,” the document reads.

Now, if this forum is kind of panicking, just think about how the public is seeing this.
Irrelevant, yeah right. Even a bad role is still a role!

shadyz

member

Activity: 66

Merit: 10

https://www.facebook.com/goxbitcoin

https://www.youtube.com/watch?v=QJ_QLpfXoUM

T.Stuart

hero member

Activity: 644

Merit: 500

One Token to Move Anything Anywhere

Quote from: V4Vendettas on February 25, 2014, 05:45:44 AM

Yep I think I have been Goxxed and while I believe in bitcoin and don't blame it one bit I think its over for me. Mark has cleaned me out.

That said I still harbour a glimmer of hope however tiny it might be.

I'm with you on the "glimmer of hope" there! Wink

V4Vendettas

sr. member

Activity: 294

Merit: 250

Yep I think I have been Goxxed and while I believe in bitcoin and don't blame it one bit I think its over for me. Mark has cleaned me out.

That said I still harbour a glimmer of hope however tiny it might be.

T.Stuart

hero member

Activity: 644

Merit: 500

One Token to Move Anything Anywhere

Quote from: Sheldor333 on February 25, 2014, 05:12:13 AM

750k is ~6% of the total BTC float. So yeah, it's gonna hurt bitcoin big time. I am not worried about people like you who have 100's-1000's of coins most likely obtained at very small prices in the years past *and acquiring them from the sale of your dice site (which is likely why you seem to be at ease with your loss), but I am worried about the 1000's of people sucked in over the past 6-8 months that poured their savings, or what ever extra money into BTC up to $1000. Most probably lost a coin or two or less but at a greater cost. Their loss negative effect and is going to spread by word of mouth. These people who lost will be BTC's worst enemy. Try arguing against the thought of having their lost money in a FDIC bank instead of BTC (which happened to be by proxy with mtgox) with these people and you will lose. You can try and convince yourself otherwise, but this is gonna sting if not downright paralyze the coin. Will it recover? Most likely. Next week? No. Maybe this could be the time for an alt-coin to step up to the plate with more security.

I foolishly lost a lot of money, but it's my fault entirely.

I do believe most who got Goxxed today will be able to see that it was exactly that - a "Goxxing" and not a problem with Bitcoin. Hell it's not as if people didn't try to warn us right? Wink

Sheldor333

sr. member

Activity: 406

Merit: 250

750k is ~6% of the total BTC float. So yeah, it's gonna hurt bitcoin big time. I am not worried about people like you who have 100's-1000's of coins most likely obtained at very small prices in the years past *and acquiring them from the sale of your dice site (which is likely why you seem to be at ease with your loss), but I am worried about the 1000's of people sucked in over the past 6-8 months that poured their savings, or what ever extra money into BTC up to $1000. Most probably lost a coin or two or less but at a greater cost. Their loss negative effect and is going to spread by word of mouth. These people who lost will be BTC's worst enemy. Try arguing against the thought of having their lost money in a FDIC bank instead of BTC (which happened to be by proxy with mtgox) with these people and you will lose. You can try and convince yourself otherwise, but this is gonna sting if not downright paralyze the coin. Will it recover? Most likely. Next week? No. Maybe this could be the time for an alt-coin to step up to the plate with more security.

Celeris

newbie

Activity: 14

Merit: 0

Quote from: Minor Miner on February 25, 2014, 12:58:08 AM

It would actually seem very bullish to me.

Now, go forth and panic sheeple, because I would like some cheap coins and mining is hard work.

That's not bullish. That's bearish.

I mean I get what you're trying to say, but it's not bullish nor is it good at all for bitcoin as a whole. If you want to buy cheap coins then it's great, but you don't want them to remain cheap forever, or become even more cheap, do you? Because that's what you're actually saying.

Minor Miner

legendary

Activity: 2478

Merit: 1020

Be A Digital Miner

It would actually seem very bullish to me.
Gox is a blight on bitcoin and is now gone.
There are 700,000 btc that were stolen and likely sold off (that indicates a robust demand for coins).
There are 700,000 btc that people thought they owned and now do not (if these people want coin, they are going to have to buy some.
A lower btc price will put the squeeze on a lot of equipment manufacturers that have been dicking people around.

overall, I think, a great day for bitcoin. Sorry to the people that "lost" all those coins by trusting them to an exchange that has not been trustworthy for over a year, but after all the signs and withdraw delays, you might have considered it risky.

Now, go forth and panic sheeple, because I would like some cheap coins and mining is hard work.

5thStreetResearch

full member

Activity: 126

Merit: 100

Good, they needed to go, they were a cancer.

cryptoanarchist

legendary

Activity: 1120

Merit: 1003

I feel bad for all those who lost $$ on Gox, but if they ever did any research about Gox on this forum, its not like they weren't warned.

Glad to finally see them gone. AND, thrilled to have this buying opportunity.

Bitcoinwatch/Bitcoincharts: Can you finally remove them from your sites?

DeathAndTaxes

donator

Activity: 1218

Merit: 1079

Gerald Davis

Quote from: iluvpie60 on February 25, 2014, 12:22:25 AM

http://www.coindesk.com/mt-gox-trading-halts-bitcoin-businesses-move-assure-investors/ we are all screwed, get into fiat or cry for months.

I just made a payment using the bitcoin network an hour ago, and yup it seems to work just fine without MtGox. I didn't buy bitcoins because I thought Magic the gathering was cool. Bitcoin was a powerful concept, a game changing concept, before MtGox and it still is.

Tonka Branded Truck

sr. member

Activity: 259

Merit: 250

Mtgox is dead. Lets move on. Mt gox is irrelevant now.

iluvpie60

hero member

Activity: 700

Merit: 500

http://www.coindesk.com/mt-gox-trading-halts-bitcoin-businesses-move-assure-investors/ we are all screwed, get into fiat or cry for months.

Topic: MTGOX crashed and burned, website is on full blast nuclear explosion dead (Read 2112 times)