Topic: MtGox's DEATH - Bitcoin headed towards darkness? - page 3. (Read 8338 times)

I encourage all to get out of BTC and into fiat now while you can.  


I will gladly serve as the medium to help you facilitate your flee from impending doom...and I'll purchase them at a more-than-generous rate of $150 per BTC.


If that's not compelling enough, please read it back in a 'cash4gold' television announcer voice.  


I'll be awaiting your pm's.

MtGox became a epic joke long time ago and only greed and stupidity forced people to trade there or send any coin/fiat into this black hole.

strange issue/bug
months working good, and now..a "strange and undetermined issue with withdrawls.."...
btc withdrawls process doenst have any mistery..
so
mtx gox is death,out of btc

Great news!   


The article that OP FUDster linked to says the have the money and coins:

Roger Ver, who declared last July he had looked at Mt. Gox’s books and determined they were indeed still solvent, said he was still optimistic the exchange would fulfil its obligations.

This was after the USA Gov raped them, Gox still had enough money.
The problems were dealing with the banking industry and very poor coding.

I think it will end up that way. Similarly to how Ultimate Bet turned out for online poker (if you were a part of that)

 Makes sense, hope it doesn't turn out to be a huge ponzi.

There is some speculation that MtGox does not have adequate BTC on hand to cover a significant volume of bitcoin wallet withdrawals.

By halting withdrawals it buys them time to (among other things) either; a.) increase their bitcoin balance, b.) come up with another excuse not to give customers access to their bitcoins, or c.) hope that this 2-day delay will somehow slow the bleeding once they re-enable withdrawals on Monday.  

As we all know by now, mtgox is in big trouble. They say they will release a new statement on 10th Feb 2014, which most likely would be "we have sent all the stuck bitcoins back, but fiat withdrawals still won't go through".

What if, none of the future btc withdrawals don't work either? And mtgox finally admits to going belly up, like 2 months later?

What would happen when mtgox finally admits that it is in big trouble and can't serve us anymore? Would the bitcoin prices fall sharply AGAIN? Or would the prices hold steady (because its not like all exchanges will shutdown).

What I personally think will happen on Monday is, mtgox will release the "stuck" bitcoins back to the owners, and the respective owners will again try to withdraw all their btc holdings because not a lot of people trust mtgox anymore. And what happens when mtgox again receives thousands of withdrawal requests on monday? The coins get "stuck" again (i.e. if it indeed is a technical issue)!

Do you really think that they can fix a REAL technical issue in just 2 days ? If they were that competent, wouldn't they have fixed the technical glitch a long time ago?

I have some money held up with mtgox, and I really do hope that i do get my coins back, but I like to live in the reality. I know, there is something BIG going on inside mtgox - Either they are keeping the coins for themselves as part of an elaborate ponzi scheme OR they are in big trouble with the authorities and hence, can't release any coins until the authorities let them do so.

Either way, this DOES NOT LOOK GOOD...

"never invest more than you're willing to loose" that's true for penny stocks, futures... and even more true for unregulated crypto currencies

Benson, I am more panicked than most people here. I have a lot of money stuck with gox and I have also lost a lot already. So, don't think that i am trying to spread panic.

I am only trying to see what people think will happen if gox shuts down. Will the price hold steady like after SR takedown or would it plummet?

I am only trying to see what people think will happen if gox shuts down. Will the price hold steady like after SR takedown or would it plummet?

I don't think it matters much, centralized exchanges will be phased out soon enough anyway with projects like Ethereum, NXT, Mastercoin, and others exactly because of these kinds of issues with central exchanges.

Gox had a good run and will always be noted as the first of its kind, but its time for it to die as it is doing more harm than good anymore to the bitcoin economy.