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Topic: Official End of Mt Gox thread - page 4. (Read 13004 times)

hero member
Activity: 826
Merit: 508
February 21, 2014, 01:45:07 PM
So, besides those in the US (and where else?), it's only been this recent BTC malleability issue - which was legitimized by other exchanges having similar issues concurrently - that has changed anything.

To be fair, Gox appears to have failed tx problems going back at least 4 months. It is possible, if reconciliation processes were handled incompetently, that they were being exploited long before the recent attack.

http://www.reddit.com/r/Bitcoin/comments/1pdkk8/mtgox_have_failed_to_process_my_btc_withdraw/
https://bitcointalksearch.org/topic/mtgox-bitcoin-withdrawal-delay-324918
legendary
Activity: 1036
Merit: 1000
February 21, 2014, 01:26:29 PM
Hate all you want, but maybe Gox's screw-ups are what's been keeping this market volatile the way you like it.

All I can see is that they've been the biggest exchange for most of Bitcoin's history, naturally this lead to having the biggest problems to deal with, and they did deal with them and kept going every time. They're having a harder price crash than ever this time, but all eyes are on them and they're still making statements, so I can't say I'm expecting anything other than the usual: the problem getting solved in the end and overall public confidence in the Bitcoin ecosystem getting another boost from that.

Now you can carry on with your hate thread.

Indeed. Besides the lawsuits I can't see any particular reason for Gox to die. Keep in mind Gox has been working great, with only a few minor hiccups (and of course slow tech support), for those of us in Japan. It takes literally 2 minutes to deposit yen from a Japanese bank, and withdrawals have been smooth, usually 2-3 days, at most 2-3 weeks (this January). I hear SEPA withdrawals are working as well, though a few weeks delayed, and deposits seem to take a few days.

So, besides those in the US (and where else?), it's only been this recent BTC malleability issue - which was legitimized by other exchanges having similar issues concurrently - that has changed anything. Granted we can expect the usual bumbling, non-communicative, heal-dragging approach as always, but if they solve the malleability problem in a few weeks I see no particular reason to expect any kind of insolvency or discontinuation of service. They will of course lose a lot of customers and probably remain a buggy experience overall, but other than potential lawsuits I don't see what is supposed to be actually killing them at this time. Eventually, sure, they will die or become a niche service, but insolvency just because they probably got scammed out of some number of coins? Seems like idle speculation.
full member
Activity: 183
Merit: 100
February 21, 2014, 02:23:09 AM
Hate all you want, but maybe Gox's screw-ups are what's been keeping this market volatile the way you like it.

All I can see is that they've been the biggest exchange for most of Bitcoin's history, naturally this lead to having the biggest problems to deal with, and they did deal with them and kept going every time. They're having a harder price crash than ever this time, but all eyes are on them and they're still making statements, so I can't say I'm expecting anything other than the usual: the problem getting solved in the end and overall public confidence in the Bitcoin ecosystem getting another boost from that.

Now you can carry on with your hate thread.
full member
Activity: 140
Merit: 100
February 21, 2014, 12:23:58 AM
When gox is dead, Btc prices will be able to rise again.
legendary
Activity: 2772
Merit: 1028
Duelbits.com
February 20, 2014, 09:37:10 PM
I think, this time, Mt.Gox will really die and never be revived again...
And I really hope so. This was a cencer for the Bitcoin ecosphere.

When all this is over, and Mt.Gox is burried, the media will finally check bitcoinaverage in stead of Mt.Gox Wink

Gox carried away Bitcoin ecosphere for some time. They're shit now but let's not forget to speak truth and give credits where it's due.
legendary
Activity: 1470
Merit: 1000
Want privacy? Use Monero!
February 20, 2014, 09:35:36 PM
I think, this time, Mt.Gox will really die and never be revived again...
And I really hope so. This was a cancer for the Bitcoin ecosphere.

When all this is over, and Mt.Gox is burried, the media will finally check bitcoinaverage in stead of Mt.Gox Wink
sr. member
Activity: 266
Merit: 250
February 20, 2014, 09:19:10 PM
Awesome!

They should make it their official MtGox song. Every new user has to sing it and accept it before they can start trading(so they are aware of the dangers). Cheesy
full member
Activity: 196
Merit: 100
February 20, 2014, 08:37:10 PM
Had to quote this from the Wall observer thread - Sums this up perfectly.

Twas the night before Goxxing, when all through Mark's house
Not a feature was working, not even Mark's mouse
The bitcoin were slung through trades with despair,
In hopes that St. Solvency soon would be there

The miners were slowing and profits were dead,
While visions of sugar-drinks danced in his head.
The llama they call Proudhon, and I in my cap,
Had long since forgotten the exchange that was crap.

When out from Mt. Gox there arose such a smatter,
I clicked on the link to see what was the matter.
Away from that window I clicked in a flash,
More opened and cluttered the further it crashed.

The doom on the boards from the new-fallen low
Gave the FUDsters some ammo with which they could sow.
When, with much thundering pain should appear,
But a bouncing blue ball, and a chap in headgear.

With a riddled fat rider, so ugly and sick
I knew in two seconds this guy was a dick.
Less rapid than sloth his announcements they came,
And he whistled, and shouted, and then bitcoin he blamed!

"Now, asshole! now, cancer! now answer and quicken!
Go, stop it! You're putrid! go, go ponder and fix it!
To the site you must lurch! you should stop with the stall!
Now bounce away! Bounce away! Bounce away ball!"

As dry leaves that before the wild hurricane fly,
When they meet with an obstacle, mount to the sky.
So up to the exchange the ball he did move,
With a mind full of ploys, and some syphilis too.

And then, with no thinking, he said quite aloof
His address was changing to a virtual roof.
As I saw what he said, and was browsing around,
The price just kept moving faster and further down.

They weren't impressed that's for sure, with this end to their loot,
The masses pressed onward, the response was quite moot.
A wallet of coins he had flung out the back,
He was leaving forever, he had had already packed.

His drinks-they were sprinkled! his pimples how cherry!
His face in weird poses, his complexion quite scary!
His droll little mouth was drawn up like a bow,
And the fat of his belly hid his penis below.

The stump of a drive he held tight in his teeth,
And I heard all the bitcoins cry out for relief!
He had a broad face and a giant round belly,
That shook when he sneered, like a bowlful of jelly!

He was a chubby chump, with a magic card shelf,
And I laughed when I learned it, in spite of myself!
A wink of his eye and a twist of his head,
Soon had me wondering if bitcoin was dead.

He spoke of goxbux, PHP - that would work!
And filled all the accounts, then turned with a jerk.
And laying a cheek aside of his ball,
And giving a nod, out the exchange he hauled!

He bounced down the street, and his katana glistened,
I told you stupid fuckers, you all should have listened.
But I heard him exclaim, as he bounced out of site,
"Happy Goxxing to all", and "you've all been fucked right!"


hero member
Activity: 606
Merit: 500
legendary
Activity: 1008
Merit: 1000
Making money since I was in the womb! @emc2whale
February 20, 2014, 08:27:35 PM
$95
legendary
Activity: 2590
Merit: 3015
Welt Am Draht
February 20, 2014, 08:14:58 PM
I don't think reducing the suffering they inflict on people is in their remit.
hero member
Activity: 606
Merit: 500
February 20, 2014, 08:13:14 PM
I hopes MTGOX gone out quickly so it wont disturb the price
sr. member
Activity: 406
Merit: 250
February 20, 2014, 08:00:10 PM
Bitstamp also collapse!
hero member
Activity: 1288
Merit: 524
Buzz App - Spin wheel, farm rewards
February 20, 2014, 07:57:24 PM
here comes 99!!!!
donator
Activity: 1218
Merit: 1079
Gerald Davis
February 20, 2014, 07:43:46 PM
and the surprise is?

to my knowledge there has yet to be a single long term business (years) whose main focus has been bitcoin that hasn't either

1) been hacked and lost a whole lotta stuff
2) pulled a runner
3) scammed everyone in some way
4) been shut down and lost peoples stuff


Tangible Cryptography. Smiley

Is January 2012 old enough?
Never lost a single satoshi of company or customer funds.  
Never broke a trade ("high risk" abort).
Paid back every satoshi borrowed with interest.
Was shut down by the state of virginia, nobody but company lost a penny, relocated, restructured, and now operates as a direct broker of bitcoins then never holds customer coins.   Nothing to have frozen because users hold their own coins up to the point of sale.

Still pretty sure BitPay would meet your criteria as well and I am sure there has to be at least a couple more.


legendary
Activity: 1288
Merit: 1043
:^)
February 20, 2014, 07:30:40 PM
This may have a bigger affect. Didn't MtGox buy the rights to the Bitcoin trademark or something?

If this is true, it could wreak havoc on the symbol BTC

Not really. It and other widely used Bitcoin graphics were put in public domain by their creator few years ago, check for it on this forum.
sr. member
Activity: 462
Merit: 250
February 20, 2014, 05:58:35 PM
What is this security issue?  We used to have animal rights protestors outside our door every other week.  It never bothered me that much.  If it gets bad you call the police.  I have never heard of anyone running away because of a security issue.  Besides that an office move can be incredibly disruptive if it is not carefully planned. I am smelling that smell again...

And if you tell everyone where you are going, they will go there instead...
legendary
Activity: 2772
Merit: 1028
Duelbits.com
February 20, 2014, 05:58:28 PM
No end of Gox, they'll buy loads of cheap coins they are obviously missing and some more. Then reopen withdrawals, and make money on the price going up again.

That's the only way to get out of the mess they got in with missing coins and only way to gain them again. That's why they didn't close trading.
hero member
Activity: 1288
Merit: 524
Buzz App - Spin wheel, farm rewards
February 20, 2014, 05:52:59 PM
those still trading on gox right now, summons this image

https://www.youtube.com/watch?v=O5zGkqAWsWE
member
Activity: 89
Merit: 12
February 20, 2014, 05:50:00 PM
and the surprise is?

to my knowledge there has yet to be a single long term business (years) whose main focus has been bitcoin that hasn't either

1) been hacked and lost a whole lotta stuff
2) pulled a runner
3) scammed everyone in some way
4) been shut down and lost peoples stuff


I think CampBX would qualify there.  Can't think of anybody else though.  Maybe Cassicus if you count that.

You can count BTC-24 too...
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