The Gox Plan | Bitcointalksearch.org

darkmule

legendary

Activity: 1176

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Quote from: Sheldor333 on February 25, 2014, 06:08:54 AM

I had more on there than you. Is there even a glimmer of hope for us?
You seem very confident it is gone for good as it very well may be. Just hate going down without a fight. Is it worth it? Will 700k+ BTC in the hands of thieves really be ok for btc in the long haul? I understand free markets, but this will be the toughest pill to date for the media to swallow.

I doubt that. The media is usually downright gleeful at any chance to piss on Bitcoin. This is just more chum for the sharks.

franky1

legendary

Activity: 4214

Merit: 4458

stop creating FUD. simply read the crisis plan.

it is not wrote in a manner that would be deemed to have come from MTGOX. instead it is wrote in a manner that an outsider that has opinions about mtgox.

this is not a leaked document from inside of mtgox. so please do not treat it as such, anyone can write a document and put any carefully chosen words into the document. so it really requires you all to put the whole scenario into perspective.

GOX DID NOT WRITE THE DOCUMENT AND THE "STORY" WROTE BY THE DOCUMENT PROVES NOTHING

although i hate mtgox's actions recently, what i hate more is the FUD spreading trolls. people need to stop taking things on face value and actually do some research beyond the information that someone provides you with.

waldox

sr. member

Activity: 252

Merit: 250

great post

i concur thefootman

smells like an inside job

D05GTO

sr. member

Activity: 406

Merit: 250

Awww how cute, they developed the new pickpocket wallet... err mean bitpocket wallet.

Scriptiee

sr. member

Activity: 249

Merit: 250

Quote from: TheFootMan on February 25, 2014, 05:07:21 AM

Quote from: phzi on February 25, 2014, 04:36:58 AM

OP misses a key thing - if they were verifying transactions by txid, and not acknowledging spends as they were confirmed, if they were confirmed under a different txid, it is entirely reasonable that MtGox failed to realize all these bitcoins were gone. It also lines up perfectly with why they had so many failed withdrawals - they were trying to spend txouts that had already been spend, but their shitty software failed to realize had been spent.

No it does not make sense. If you're competent enough to run a bitcoin business, you're also competent enough to see if something runs afoul with your stack of fiat and btc.

It's not long ago that MtGox did auditing to find how much was owed them by coinlab, do you think during that audit they did not notice a discrepancy in funds? They're lying, until proven otherwise.

Who you mean by "they"? MtGox has not officially stated that coins were missing, all that info comes from a third party of some kind.

Not bashing you or defending MtGox, just looking at the known facts.

Sheldor333

sr. member

Activity: 406

Merit: 250

I had more on there than you. Is there even a glimmer of hope for us?
You seem very confident it is gone for good as it very well may be. Just hate going down without a fight. Is it worth it? Will 700k+ BTC in the hands of thieves really be ok for btc in the long haul? I understand free markets, but this will be the toughest pill to date for the media to swallow.

TheFootMan

hero member

Activity: 490

Merit: 500

Quote from: Oj0 on February 25, 2014, 05:39:58 AM

Quote from: TheFootMan on February 25, 2014, 04:25:34 AM

Update, can anyone glean more info from this?

https://blockchain.info/address/1Drt3c8pSdrkyjuBiwVcSSixZwQtMZ3Tew?offset=0&filter=0

It might be unrelated of course...

Can someone please explain this to me?

Some say it is an address the hacker used to launder stolen MtGox coins, I am not sure about that.

Oj0

member

Activity: 100

Merit: 10

Quote from: TheFootMan on February 25, 2014, 04:25:34 AM

Update, can anyone glean more info from this?

https://blockchain.info/address/1Drt3c8pSdrkyjuBiwVcSSixZwQtMZ3Tew?offset=0&filter=0

It might be unrelated of course...

Can someone please explain this to me?

BitCoinNutJob

legendary

Activity: 1316

Merit: 1000

Quote from: acoindr on February 25, 2014, 04:31:41 AM

Quote from: TheFootMan on February 25, 2014, 04:27:27 AM

Quote from: BitCoinNutJob on February 25, 2014, 04:22:59 AM

who is running this crisis plan?...confused

MtGox ?

Not MtGox, as in Mark Karpeles. I believe there are competent professionals who, upon seeing MtGox floundering like a dying fish in water, understood the good to be had by the community for swooping in and taking over.

See my post here: https://bitcointalksearch.org/topic/community-lets-move-forward-from-mtgox-486236

do we know who?

TheFootMan

hero member

Activity: 490

Merit: 500

Quote from: phzi on February 25, 2014, 04:36:58 AM

OP misses a key thing - if they were verifying transactions by txid, and not acknowledging spends as they were confirmed, if they were confirmed under a different txid, it is entirely reasonable that MtGox failed to realize all these bitcoins were gone. It also lines up perfectly with why they had so many failed withdrawals - they were trying to spend txouts that had already been spend, but their shitty software failed to realize had been spent.

No it does not make sense. If you're competent enough to run a bitcoin business, you're also competent enough to see if something runs afoul with your stack of fiat and btc.

It's not long ago that MtGox did auditing to find how much was owed them by coinlab, do you think during that audit they did not notice a discrepancy in funds? They're lying, until proven otherwise.

darkmule

legendary

Activity: 1176

Merit: 1005

Quote from: phzi on February 25, 2014, 04:36:58 AM

OP misses a key thing - if they were verifying transactions by txid, and not acknowledging spends as they were confirmed, if they were confirmed under a different txid, it is entirely reasonable that MtGox failed to realize all these bitcoins were gone. It also lines up perfectly with why they had so many failed withdrawals - they were trying to spend txouts that had already been spend, but their shitty software failed to realize had been spent.

So they were basically too busy smoking weed they bought off Silk Road to pay any attention to what was actually going on at their exchange. Fish in a barrel.

Fucking idiots.

exponential

member

Activity: 94

Merit: 10

Quote from: TheFootMan on February 25, 2014, 04:25:34 AM

Update, can anyone glean more info from this?

https://blockchain.info/address/1Drt3c8pSdrkyjuBiwVcSSixZwQtMZ3Tew?offset=0&filter=0

It might be unrelated of course...

Interesting.

phzi

hero member

Activity: 700

Merit: 500

OP misses a key thing - if they were verifying transactions by txid, and not acknowledging spends as they were confirmed, if they were confirmed under a different txid, it is entirely reasonable that MtGox failed to realize all these bitcoins were gone. It also lines up perfectly with why they had so many failed withdrawals - they were trying to spend txouts that had already been spend, but their shitty software failed to realize had been spent.

acoindr

legendary

Activity: 1050

Merit: 1002

Quote from: TheFootMan on February 25, 2014, 04:27:27 AM

Quote from: BitCoinNutJob on February 25, 2014, 04:22:59 AM

who is running this crisis plan?...confused

MtGox ?

Not MtGox, as in Mark Karpeles. I believe there are competent professionals who, upon seeing MtGox floundering like a dying fish in water, understood the good to be had by the community for swooping in and taking over.

See my post here: https://bitcointalksearch.org/topic/community-lets-move-forward-from-mtgox-486236

BitCoinNutJob

legendary

Activity: 1316

Merit: 1000

Quote from: TheFootMan on February 25, 2014, 04:27:27 AM

Quote from: BitCoinNutJob on February 25, 2014, 04:22:59 AM

who is running this crisis plan?...confused

MtGox ?

MtGox staff? hmmm strange, if so they need to introduce themselves

TheFootMan

hero member

Activity: 490

Merit: 500

Quote from: BitCoinNutJob on February 25, 2014, 04:22:59 AM

who is running this crisis plan?...confused

MtGox ?

TheFootMan

hero member

Activity: 490

Merit: 500

Update, can anyone glean more info from this?

https://blockchain.info/address/1Drt3c8pSdrkyjuBiwVcSSixZwQtMZ3Tew?offset=0&filter=0

It might be unrelated of course...

BitCoinNutJob

legendary

Activity: 1316

Merit: 1000

who is running this crisis plan?...confused

ldh

newbie

Activity: 15

Merit: 0

Quote from: TheFootMan on February 25, 2014, 04:07:56 AM

Sources:

http://www.scribd.com/doc/209050732/MtGox-Situation-Crisis-Strategy-Draft

The blacked out part is apparently revealed here:
https://i.imgur.com/7EjktvK.png

And Gox.com domain sold:
http://www.domaininvesting.com/andy-booth-sells-gox-com/
http://www.booth.com/gox.php

whois gox.com:

Quote

Update Date: 2014-02-24 17:29:44
Creation Date: 1997-10-09 23:00:00

More info:
http://www.wired.com/wiredenterprise/2014/02/bitcoins-mt-gox-implodes/

So the leaked pdf was true?

Does anyone really buy this from the leaked pdf:

Quote

At this point 744,408 BTC are missing due to malleability-related theft which went unnoticed for several years.
The cold storage has been wiped out due to a leak in the hot wallet

Here you can see what kind of effort MtGox went to to avoid paying out to vulnerabilities affecting MtGox:
http://webcache.googleusercontent.com/search?q=cache:h8lkk1TeFLQJ:https://www.mtgox.com/report-security-issue+&cd=1&hl=no&ct=clnk&gl=no

With this amount of attention to detail regarding being able to get a vulnerability bounty from MtGox, does it make sense that they had no control whatsoever about their btc stack? Clearly at least once a year, they would check how much they owed customers in terms of btc and usd (and other currencies) and how much they had in storage?

Here MtGox countersues Coinlab: http://www.coindesk.com/mt-gox-countersues-bitcoin-incubator-coinlab-5-5m/

So clearly MtGox had some sort of overview as to the amount of funds they didn't have in terms of USD AND BTC (claiming coinlab has 1428 bitcoins) So, now suddenly they're trying to claim that they didn't have any control or oversight whatsoever about their stack of BTC?

How on earth does this make any sense whatsoever? I do not buy this at all. I think this is an insider job, and that someone is sitting with a large stack of BTC, and will 'vanish' quite soon.

The story does not just add up here. And why would MtGox buy up gox.com yesterday if they planned to run anyway?

I'm with ya, god bless those who having btc & usd & etc in Mtgox!

Cheers

The_Gloomfrost

member

Activity: 90

Merit: 10

Deception, diversion, division.

Topic: The Gox Plan (Read 27995 times)