Mt.Gox SCAM? $38million disappeared. Large sums affected. - page 15.

igorr

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Quote from: Sonny on February 06, 2014, 04:54:21 AM

I don't really understand why mtgox price go down significantly...

People knew their USD withdrawal would get stuck, but they still want to sell all their bitcoin on mtgox?

Check this thread, everything will be clear.

https://bitcointalksearch.org/topic/btc-beginning-of-the-end-420005 and this https://bitcointalksearch.org/topic/bicoin-biggest-scam-in-the-early-history-400001

mining hardware manufacturers, have no more interest to invest in Bitcoin, and here is the end !!!

MtGox has lost credibility, or at least exchange office does not follow the price at MtGox,
because in November and December of 2013 years, the price MtGox exchange office was allowed to rise without real money. (at push-button up) (great deception)
Now as we can see, MtGox is in big trouble about withdraw money, It is so logical and clearly.

Sonny

hero member

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Quote from: bryant.coleman on February 06, 2014, 05:53:38 AM

Quote from: Sonny on February 06, 2014, 04:54:21 AM

I don't really understand why mtgox price go down significantly...

People knew their USD withdrawal would get stuck, but they still want to sell all their bitcoin on mtgox?

Lack of demand. New buyers are too scared to buy BTC.

But, why is there demand in the past months, when price was always $100+ higher in mtgox?

bryant.coleman

legendary

Activity: 3766

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Quote from: Sonny on February 06, 2014, 04:54:21 AM

I don't really understand why mtgox price go down significantly...

People knew their USD withdrawal would get stuck, but they still want to sell all their bitcoin on mtgox?

Lack of demand. New buyers are too scared to buy BTC.

Honeypot

sr. member

Activity: 420

Merit: 250

People doing the 'analysis' should remember the environment and public attention to crypto is vastly different than previous cycles. Whether this means a greater drop (regulations and possible 'illegalization') or higher 'stable price' for bitcoin is up in the air - but I am optimistic about the prices and believe it will remain stable above at least 500 long term until the next big push.

Although crashing to 100 would give a great chance to gobble up some cheap coins

FandangledGizmo

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Quote from: gollum on February 06, 2014, 12:17:27 AM

Seems like MtGox is the "Lehman Brothers" of the bitcoin world.
My analysis points out that BTC/USD might crash down to $100

Is this your same genius 'analysis' that helped you decide Bitcoin was a Ponzi scheme & that we'd be better off with a government issued asset backed currency.

Quote from: gollum on February 04, 2014, 08:17:30 AM

Quote from: benjamindees on February 04, 2014, 08:06:21 AM

Quote from: gollum on February 04, 2014, 07:53:48 AM

The market price of each certificate will be the function of the underlying asset and the trustworthyness of the issuer.

So, all the downsides of both currency and barter, and the upsides of neither. Like I said, look into Ripple.

Yes why not cap the limit at 21 million, pretend we got intrinsic value and reward early adaptors for selling to greater fools in the ponzi scheme.
After all it's safer to pay 1000$ for 1/21 millionth of a ponzi, then to pay 0$ for a blank sheet of paper that could be used to sign a contract for gold, stocks or real estate.

My eyesight is not great, but I can see you a mile away...

Sonny

hero member

Activity: 868

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I don't really understand why mtgox price go down significantly...

People knew their USD withdrawal would get stuck, but they still want to sell all their bitcoin on mtgox?

bryant.coleman

legendary

Activity: 3766

Merit: 1217

There seems to be some sort of good news... BTC is back up to $875 from $820-825 levels.

Sonny

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Activity: 868

Merit: 1000

Quote from: donate2me on February 06, 2014, 04:22:40 AM

This is a classic PONZI scheme. Don't listen to these idiots on this forum pumping the shit out of bitcoin. Google "pump and dump". Realistically you are talking about cyber money. You may as well kiss your money goodbye. Why the f- would the winklevoss guys come out and say they own a grip of bitcoin.... So the rest of you morons buy buy buy and drive the price to 1200. I feel bad for all of you that put your savings and hard earned money into Monopoly money. It will collapse soon. And guess who won't have a bitcoin in their wallet ---- you guesses it... The winklevoss twins, laughing all the way to the bank with your money. Any website that used to be for trading magic cards is definently a scam!

Hey, donate2me, why all of your posts (6 up till now) are all saying bitcoin is ponzi?
Seems like it is the only thing you want to do with this account...

Its About Sharing

legendary

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Antifragile

Quote from: gollum on February 06, 2014, 12:17:27 AM

Seems like MtGox is the "Lehman Brothers" of the bitcoin world.
My analysis points out that BTC/USD might crash down to $100

Your startpoint breaks the prior uptrend.
So many ways to draw a chart.
Essentially, it is a toss up, no pun.

donate2me

newbie

Activity: 14

Merit: 0

This is a classic PONZI scheme. Don't listen to these idiots on this forum pumping the shit out of bitcoin. Google "pump and dump". Realistically you are talking about cyber money. You may as well kiss your money goodbye. Why the f- would the winklevoss guys come out and say they own a grip of bitcoin.... So the rest of you morons buy buy buy and drive the price to 1200. I feel bad for all of you that put your savings and hard earned money into Monopoly money. It will collapse soon. And guess who won't have a bitcoin in their wallet ---- you guesses it... The winklevoss twins, laughing all the way to the bank with your money. Any website that used to be for trading magic cards is definently a scam!

daserpent1

sr. member

Activity: 435

Merit: 250

2 police cases have been registered against mtgox already by some big btc holders. I dont think this is going to end well.

dharmapuriharithaa

member

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38 million is huge money. I think govt will get involved soon restrict bitcoin.

phrackage

newbie

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Quote from: Jeezy911 on February 06, 2014, 01:50:05 AM

Banks are the enemy right? Imagine if you walked into a bank and they said "sorry no withdraws our system is down until who knows when". And then it started happening at a lot of banks, and certain banks would just vanish after you deposited your money would you still have faith in the banking system? Its a big deal.

This has happened many times in history actually.

Lucky Cris

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Quote from: Xendrios on February 06, 2014, 03:38:41 AM

It's sad that our brilliant bitcoin has soo many criminals around...

Unfortunately it is.

ArticMine

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Monero Core Team

Quote

DISCLOSURE
The author is personally affected by MtGox’ behavior, having a six-figure dollar amount in such non-executed withdrawals. He considered Gox to be a safer repository for bitcoin than his own probably-hackable computer. That judgment may not have been accurate.

Let me guess he is running Microsoft Windows on his computer. When will people learn that installing GNU/Linux on one's computer and using such computer to store one's bitcoin is a far safer option than storing bitcoin on an exchange.

Xendrios

full member

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Merit: 100

A company unable to pay up when it's asked to is insolvent.

MtGox has all thesame symptoms of a bankrun. And we all know the banks run a 'fractional reserve', this means a run on the bank is an dangerous thing.

MtGox in theory shouldn't be a 'fractional reserve' system, but it clearly is.

First it lacked fiat, so it started delaying fiat payments, blaming it on the banks.
Then it started to lack even fiat, so it started selling bitcoins of users to get fiat. (Why do you think price has been stable for a while now even though there's been lots of good news)
Now it lacks bitcoins so it delays bitcoin transfers and blames a technical glitch.

One has to be really blind to not see this unfolding for over half a year already.
I got out my bitcoins as soon as my transfers took a month instead of a day.

Now everyone left is holding the bag...

The numbers in the accounts are all fake, fictional numbers.

It's sad that our brilliant bitcoin has soo many criminals around...

papamoi

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Activity: 378

Merit: 250

Quote from: cypherdoc on February 06, 2014, 01:43:37 AM

Quote from: Nathonas on February 06, 2014, 01:34:57 AM

Quote from: Jeezy911 on February 06, 2014, 01:26:13 AM

Everything is looking so scammish lately, even projects that seem so legit. Cryptsy, scharmbeck, now gox. Seriously this kind of shit will kill crypto.

That's a little bit pessimistic. Most alt coins are pretty much scam land already. Crypsty hasn't scammed people to my knowledge, just a lot of problems with that website (remember when you could withdraw 10 btc or whatever that you didn't even have?). Gox never scammed people, their website just has some technical problems sometimes.

yes, Karpeles has never stolen from anyone.

in fact, he's covered ppl's losses from his own funds when he was responsible for destroyed coins from his coding errors. he's always fixed the problems and security has been impeccable since 2011.

he'll get this one fixed too.

HI cypherdoc,

How about the fiat withdrawal he never paid?

we are waiting our money since 4 months now and despite promising us to pay quickly if we pay 5% ,we did accept this and even with this rackettering ,no trace of our money

so can you help on this doc?

RandyMagnum

sr. member

Activity: 662

Merit: 250

Quote from: cypherdoc on February 06, 2014, 01:30:52 AM

just got off IRC with Karpeles.

it's a technical glitch, not insolvency. they're still working to fix it.

Shame you didn't snatch a screencap, but I'm inclined to believe this is the most likely case in any event.

Jeezy911

sr. member

Activity: 294

Merit: 250

Banks are the enemy right? Imagine if you walked into a bank and they said "sorry no withdraws our system is down until who knows when". And then it started happening at a lot of banks, and certain banks would just vanish after you deposited your money would you still have faith in the banking system? Its a big deal.

cypherdoc

legendary

Activity: 1764

Merit: 1002

Quote from: Nathonas on February 06, 2014, 01:34:57 AM

Quote from: Jeezy911 on February 06, 2014, 01:26:13 AM

Everything is looking so scammish lately, even projects that seem so legit. Cryptsy, scharmbeck, now gox. Seriously this kind of shit will kill crypto.

That's a little bit pessimistic. Most alt coins are pretty much scam land already. Crypsty hasn't scammed people to my knowledge, just a lot of problems with that website (remember when you could withdraw 10 btc or whatever that you didn't even have?). Gox never scammed people, their website just has some technical problems sometimes.

yes, Karpeles has never stolen from anyone.

in fact, he's covered ppl's losses from his own funds when he was responsible for destroyed coins from his coding errors. he's always fixed the problems and security has been impeccable since 2011.

he'll get this one fixed too.

Topic: Mt.Gox SCAM? $38million disappeared. Large sums affected. - page 15. (Read 38202 times)