Topic: Stop blaming MtGox - page 2. (Read 2306 times)

Are you are a Mt. Gox sockpuppet? All your posts were made only today.

Name:    CWestermark
Posts:    5
Activity:    5
Position:    Newbie
Date Registered:    November 23, 2013, 09:44:05 PM
Last Active:    Today at 04:15:16 PM

MtGox incompetently managed their accounts and their method of posting transactions to the network.  People discovered their failures and exploited it to rob MtGox.  That is 100% MtGox's fault.

MtGox blames Bitcoin for their failures in attempt to crash the price which would allow them to recover their losses.  This is the 3rd time they have triggered such a crash by the way.

The crash attempt fails because no one with sense trades with them anymore.  Developers step in and point out that the failure is a result of MtGox being incompetent.

Suddenly a bot appears that exploits the defect to create duplicate transactions.  These duplicates have no effect on who gets paid in transactions, or gives any advantage to hackers.  It just aggravates and confuses people until one of the duplicate transactions drops off the network as intended by the protocol.  The bot doing this is extremely well connected in the bitcoin network suggesting it must be operating on nodes that have been active for years.

Who benefits?  Only MtGox.  They have failed, are probably insolvent, and are now flinging mud at bitcoin hoping to damage the source of all their revenue.  It is EXTREMELY LIKELY that they are the source of the malicious transactions spamming the network right now.

I don't blame MtGox.  I blame any fool who trades with them.

The bottom line is the quality of Bitcoin.

I think everyone agrees transaction malleability is a bad thing. Why not just fix it?

Now when BTC-E and Bitstamp has similar problems, the bug that MtGox highlighted seems to have credit. Might Gox who cause similar issue with at their competitors exchanges

So now the ball is back at the bitcoin faundation. Bitcoin still in beta, might sadly not be so smooth yet.