Topic: New Mt Gox Press Release - Feb 10 - they are claiming flaw in bitcoin protocol ! - page 12. (Read 33066 times)

Right

TL;DR for gmaxwell's reponse = it's actually an issue with MtGox, not with Bitcoin.

Too bad that MtGox's FUD press release caused so much totally unnecessary panic.

>.>

There is gonna be some serious monday morning quarterbacking by all the idiot talking heads in the media.  

That being said, hopefully this little bump slows people from buying GPUs.  

As soon they "fixed" the BTC-Problem (!) all will go back there and praise mtgox..... ppl are dumb.

Its a reason their btc price is always 10% higher then anywhere else. As soon they run out of BTC again, they will use next panic to buy cheap....rinse and repeat.

Yeah on BTC-E. It must be a market order.

Wait wait wait. So someone got bitcoin for ~$100?

Let's just say like this; and I'm defo not a big programmer guy, I handle web programming rather well, and will not talk shit about higher level programming.
BUT as it does give me rather solid insight on how things should work; it's simple:

MTGox had custom implementation that didn't work well and still not working well. Even that aside, they're now saying it's BTC protocol fault for them not being able to secure/work out their platform better.
So, a smart programmer does his best to read up on the problem and in his own interest to cope with the problem. Thus said, if I were to run exchange, especially the big one, IN MY OWN FUCKING INTEREST; I would have made sure that shit works, and no hack kiddie can take me down. It's really simple.

Now, during years I met a lot of people in tech world as that is my part of my job, and you can always find those who are eager to blame UFO; earthquakes, ghosts and vampires for their own lack of knowledge or simply to feed their ego, because, some people obviously cannot do wrong, no matter what happens, they're always right, somehow.

MTGOX and their statement, in tech circles, as you will be able to read about in so many places in following days, is to be interpreted like just a big smelly pile of poop.
I do fear for public though, as public == 98% non tech people who only fear for their money; but well, we'll just have to hold out, as this is actually all too funny.

Well, I had no business with Gox and am only sorry for those that did, and now suffer because of that amateurish bunch.
And I'll repeat again - statement is just bullshit. There is no ground for it in tech aspect.
It's like when you're 10 and you do something bad, mom finds out, and you blame the dog.

All that said, I'm beginning to believe further more that this is all a big malice act, and to shorten things - they need to react adult VERY SOON; like yesterday or die out. It'll help the cryptos a lot in long run.
We simply need professionals at this point who can take on the challenges imposed by rising market.

IF and big IF Mt.Gox survive this you would have to be a fool to stay with them, they are done now, R.I.P Mt Gox

Why don't they start to process some withdraw manually?
They can off course proceed by date, processing first the older requests.

Is there someone of you in Japan that can go and ask?

Best regards,
ilpirata79

There is no flaw in bitcoin.
Here's a statement about Mtgox by a big Bitcoin/Altcoin exchange

http://www.reddit.com/r/Bitcoin/comments/1xih5d/mcxnow_btcalt_exchange_statement_about_the_mtgox/

Stupid ppl hit market order.... thats why

And all the naysayers.

One must see clearly the intention of their action in causing these crashes. Mark and his associate are all inside trading. Only naive idiots dont see it.


This FUD is just way too obvious!

It went lower than that. Was at about $100. I've no idea who was selling for that low. Why would they? It's baffling.

The media are going to love that volatility story.

The 102 guy, not that I'm being morbid or dickhead intentionally, is probably hanging somewhere now :/ Soon, the flowers come in.

Looking at the chart, about 1 minute.
My guess is probably less than 10 seconds... (bots do all the trading now)

Epic 2 seconds....

MtGox has been the cause of most of the crashes. They are not incompetent but are malignant, otherwise they would of closed their doors. But instead they are making good money with throwing the market at any direction they want.

But the Bitcoin community is a flock of emus, who are not able to organize, to finally root out MtGox from the entire market system. When a proposal is made about doing something to protect the integrity of the market, then all the emus will hide their heads in sand and hope that the free market fixes everything...
Most of the bitcoin enthusiasts are moronic get-rich-quick people, who dream about getting rich while doing nothing...

I was online at that moment, took me 30 sec to refresh, already was just line down, and back to 500+, so a guess would be: 3 secs
Basically someone just blindly believed mtgox statement and did their own doom. I mean, to be roughly even on sale at 1xx USD, you'd have to have bitcoins since when? 2012? LOL.

I really don't understand why some were panic selling as low as $500??
(Now price are back to reasonable levels)

This Gox statement of shifting blame is obviously another excuse not to pay out, it only affects people with fiat/bitcoins inside Gox.

Gox has been trading below other major exchanges for days now, Gix pulling away is kind of expected, right? For those who have coins in exchanges elsewhere, there is little to worry... why doesn't those people see that?