New Mt Gox Press Release - Feb 10 - they are claiming flaw in bitcoin protocol ! - page 14.

tozak

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Activity: 103

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Quote from: DooMAD on February 10, 2014, 06:38:03 AM

I think it's reached the point now where we should just organise a mass boycott campaign against Gox. They're more trouble than they're worth. Just because they were the biggest exchange at one point, doesn't afford them any special privilege to shit all over our new digital economy to further their own ends.

+{some huge number}

Rampion

legendary

Activity: 1148

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Quote from: Kenshin on February 10, 2014, 06:38:34 AM

This is a f cking bad news!!! That mean the core developers better hurry. I want to withdraw!!

Core devs must do NOTHING. MtGox need to address their mess internally.

tozak

member

Activity: 103

Merit: 10

Quote from: 5flags on February 10, 2014, 06:36:27 AM

We all know what the doomsday scenario is - a flaw in the protocol renders the currency worthless. I do suspect that they are insolvent and are using this as a last ditch attempt to manipulate the market to buy back in to balance their books. The coins that they prevented people from withdrawing have been pumped to other exchanges, then bought back in at the bottom.

If their solvency issues miraculously solve themselves in the next few days, we'll know why.

Exactly my thoughts (and posted 5 mins earlier,

)

Kenshin

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Activity: 280

Merit: 250

This is a f cking bad news!!! That mean the core developers better hurry. I want to withdraw!!

DooMAD

legendary

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Leave no FUD unchallenged

I think it's reached the point now where we should just organise a mass boycott campaign against Gox. They're more trouble than they're worth. Just because they were the biggest exchange at one point, doesn't afford them any special privilege to shit all over our new digital economy to further their own ends.

Grrizz

sr. member

Activity: 294

Merit: 250

I love the coin market... so fickle lol

You get a great view here: http://hypron.net/bitcoinwisdom.html

GOX made some mad coin today, BTC->USD over the w/e and buy back now lol

Hopefully events like this will slowly wash out the weak and make the market stronger over time Wink

tozak

member

Activity: 103

Merit: 10

It would be in the best long term interests of Bitcoin if Gox actually does fall over, we can only hope

5flags

full member

Activity: 224

Merit: 100

Professional anarchist

We all know what the doomsday scenario is - a flaw in the protocol renders the currency worthless. I do suspect that they are insolvent and are using this as a last ditch attempt to manipulate the market to buy back in to balance their books. The coins that they prevented people from withdrawing have been pumped to other exchanges, then bought back in at the bottom.

If their solvency issues miraculously solve themselves in the next few days, we'll know why.

cr1776

legendary

Activity: 4228

Merit: 1313

Quote from: nosf009 on February 10, 2014, 06:31:05 AM

http://www.cryptocoinsnews.com/2014/02/10/mt-gox-blames-bitcoin-core-developer-greg-maxwell-responds/
http://blog.oleganza.com/post/76213549017/mtgox-and-malleable-transactions

Sure, it's BTC fault haha.
Again, I only regret not having any buy orders at 150. It's not malice if people give you money themselves, right.

Thank you for adding some facts here. Gox should also consider peering with the large pools, p2pool etc which would make the mod somewhat more difficult.

guybrushthreepwood

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Quote from: drippx on February 10, 2014, 06:32:38 AM

So much FUD in here I dont even think people REALIZE that theyre FUD'ing

The only people to blame are Gox and panic sellers.

yatsey87

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Activity: 840

Merit: 509

Quote from: guybrushthreepwood on February 10, 2014, 06:32:28 AM

Quote from: FeedbackLoop on February 10, 2014, 06:30:20 AM

Quote from: Duetschpire on February 10, 2014, 06:27:16 AM

Why do we drill "mainstream" people with "Decentralized" when one exchange's not so legit announcement can do to the market what mtGox did today? How is that not centralized?

People's decision to sell (at 120 USD at BTC-e for example) was a perfectly decentralised decision. No one else was forced to buy or transact at such valuations! Cheesy

I don't get why people would sell that low. Surely they can only be losing money.

They'll surely lose a lot more when the price climbs back up like it is now.

drippx

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Activity: 539

Merit: 250

So much FUD in here I dont even think people REALIZE that theyre FUD'ing

guybrushthreepwood

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Quote from: FeedbackLoop on February 10, 2014, 06:30:20 AM

Quote from: Duetschpire on February 10, 2014, 06:27:16 AM

Why do we drill "mainstream" people with "Decentralized" when one exchange's not so legit announcement can do to the market what mtGox did today? How is that not centralized?

People's decision to sell (at 120 USD at BTC-e for example) was a perfectly decentralised decision. No one else was forced to buy or transact at such valuations! Cheesy

I don't get why people would sell that low. Surely they can only be losing money.

nosf009

full member

Activity: 196

Merit: 100

http://www.cryptocoinsnews.com/2014/02/10/mt-gox-blames-bitcoin-core-developer-greg-maxwell-responds/
http://blog.oleganza.com/post/76213549017/mtgox-and-malleable-transactions

Sure, it's BTC fault haha.
Again, I only regret not having any buy orders at 150. It's not malice if people give you money themselves, right.

FeedbackLoop

hero member

Activity: 742

Merit: 500

Quote from: Duetschpire on February 10, 2014, 06:27:16 AM

Why do we drill "mainstream" people with "Decentralized" when one exchange's not so legit announcement can do to the market what mtGox did today? How is that not centralized?

People's decision to sell (at 120 USD at BTC-e for example) was a perfectly decentralised decision. No one else was forced to buy or transact at such valuations! Cheesy

Giggety

member

Activity: 98

Merit: 10

Quote from: Duetschpire on February 10, 2014, 06:27:16 AM

Why do we drill "mainstream" people with "Decentralized" when one exchange's not so legit announcement can do to the market what mtGox did today? How is that not centralized?

I dont think cryptocurrencies will have a long life if exchanges can have so much effect on the market price

Rampion

legendary

Activity: 1148

Merit: 1018

Well, Gox statement was the perfect panic generator - noobs selling, the rest of us buying

This problem with bitcoin protocol was well documented and the "flaw" is in the custom bitcoin implementation used by MtGox's wallet.

Nothing new.

techstorm3

newbie

Activity: 27

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Im sure if they are talking BS, the core developers will be quick to rebut there claims, if not they'll just fix it.

Bitcoin has worked without major issues for the last 5 years so the former seems more likely.

Grin

Duetschpire

sr. member

Activity: 368

Merit: 250

bitify.com - Bitcoin Marketplace & Auction site

Why do we drill "mainstream" people with "Decentralized" when one exchange's not so legit announcement can do to the market what mtGox did today? How is that not centralized?

coins101

legendary

Activity: 1456

Merit: 1000

For all those that are panic selling.....I'm panic buying.

Thanks for the early birthday present.

Topic: New Mt Gox Press Release - Feb 10 - they are claiming flaw in bitcoin protocol ! - page 14. (Read 33066 times)