Topic: Time to sue ButterflyLabs - Big Single-SC owner let's league for class action - page 34. (Read 39351 times)

Inaba


Well shit, so now I have to post this in two places because I don't know which thread is being monitored:

Thanks for the post MTGox_Dylan.  I think most everyone was already aware of these FAQ points, though.  That has never really been the issue, so I'm not sure what is hoped to have been accomplished by making this post, other than as a distracting measure (This would have been perhaps more effective: http://chanarchive.org/content/1_b/378881354/1328366326840.jpg).

The real problem here is, as has already been at least partially mentioned:

1. The lack of transparency in the process.
2. The lack of communication.
3. The lies and false promises made by MTGox Support Staff with regards to AML/KYC.
4. Delay after delay, ostensibly under the guise of AML.
5. The just plain ludicrous decisions (Goat as an example).  Perhaps transparency would clear these up.
6. The fact that most decisions made by MTGox seem completely arbitrary, and nothing... NOTHING pisses off customers more than arbitrary decision making.  When your actions are not predictable in a given situation, you are wrong.  Period.

So while this post is nice and all, I'm not sure what you're hoping to accomplish other than to distract from the real issues surrounding MTGox.  My situation, that has been on going since April, is still unresolved.  I am not the only one in this situation and there are plenty of others in similar situations.  

Again, this does not seem to be an AML issue, it seems to be an insolvency issue.  MTGox is unable to fund even moderate sized fiat conversions, which leads many of us to believe you guys are basically bankrupt and a disaster waiting to happen.  The fact that no one has publicly denied this (not that we'd believe you at this point anyway, given MTGox track record of lies and falsehoods) certainly does not bolster confidence in MTGox at all.

Maybe this is the wrong thread to bring any of this up, but I don't want people to be distracted by this kind of thread from the real issue of MTGox being unable to meet their obligations to even moderate sized customers, especially when you are trying to gain new customers who will end up completely screwed when the Gox house of cards comes crashing down.

100 million orders is way out of the ballpark. There are only like 50,000 entities that mine bitcoin. That would be about 2000 orders per mining entity. They just changed their order number scheme part way though. If you look at the reported order list you can see where it changed. Looks like there is overlap on either side of the date too... so they did a bad job of the cut over. Maybe multiple systems handling orders and they got updated at different times.

Oh yeah, and with 20/20 hindsight we all knew the bitcoin price was going to go to $250+... Suuuure...
Truth is, people took some risks, and in their opinion it didn't pay off. As much as it seems to be the thing to blame others for mistakes made by people, you really do need to face up to the fact that it was always a risk to do business with BFL. I did because the risk didn't bother me, in the end it will likely pay off for me.

Again we get back to the paying with bitcoin stuff. That was my decision, and at the time I actually figured there was a good chance bitcoin would go back to the ~$3 range (the price rise already looked like a bubble then). I took that risk, it didn't pay off, but that is life. If I had invested real money rather than gpu time I would only be concerned with ROI on the cash I put in, namely what bitcoin is worth in FIAT today. Now if the price of bitcoin had remained steady but the difficulty had climbed as high as it has, then there would be reason to be pissed off.

With the 20/20 hindsight, you may as well say we all got ripped off for not mining more with GPUs when bitcoin first started up, or when OpenCL based mining was developed. It is silly to work on this basis, and the only reason you do so is because you WANT people to feel ripped off, in order to stoke and stroke your ego more. Guess it makes you feel righteous and that you matter in this world a bit?

Oh, and honorable heroes? You've done it now... Seriously, it will take k9 and phinneaus a few hours to recover and rejoin the circlejerk.
k9: Didn't know you found circlejerks to be so mathematical!

I think the folks here that don't like the BFL ads should boycott these forums.