Topic: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion - page 29180. (Read 26607984 times)

http://www.reddit.com/r/Bitcoin/comments/1z1mmz/breaking_full_mt_gox_story_coming/

same guy that provided the gox report and broke the fortress fund news

[Picture of a burning bridge]

Theyve been trapped there for nearly an hour now, lol!

Unless we get a friendly whale, I expect dumping  


Good point, train pictures should incite a rally.

However, I think this train matches us more.

You can do it Bitstamp. Just $2 more. I believe in you.

Time for more pictures of trains.

You can do it Bitstamp. Just $2 more. I believe in you.

lol some of those replies are the funniest things i've read all day

Ban stars too. Those things are dangerous, always going supernova and stuff

Yeah. Glad people are asking the important questions, such as if the Bitcoin ban would affect Dogecoin.

lol have you guys read the replies here?

https://twitter.com/Sen_JoeManchin/status/438762073527705600

~ PININ' for the Blockchain?!?!?!? What kind of talk is that?, look, why did it fall in value 500% the moment I got 'im to my cold wallet?

~ The Gox-coin prefers kippin' on it's back! Remarkable coin, id'nit, squire? Lovely algorithm!

~ Look, I took the liberty of examining that coin when I got it home, and I discovered the only reason that it had been sitting on its exchange in the first place was that it had been NAILED there.

a recent media report indicated Bitcoin CPI has 98% deflation.

The thing about Jorge is that he’s a provincial academic. In a country outside the G8, at that. Like most minor academics, especially in middle age, there is a tendency to bitterness which they are self-aware enough to hide. They are the losers and they know it.

At one point the potential must have seemed endless. Imagine being in California in the early 80s, studying Math or Computing at Stanford – what possibilities! The world ready throw billions at you and your contemporaries! Who wouldn’t start a company? Who wouldn’t invest in friends? Who wouldn’t risk just a little in their own future?

No, play it safe. Rise above the crass entrepreneurialism. Teach. Head back to a salary, with a pension. You could have done well, of course, if you’d wanted to, but the guiding, year after year, of smiling young faces was its own reward.

And now, another tech revolution unfolds in front of you. You have the understanding and the ability to invest time or money into the idea. But wait – actual involvement? Wet feet? Action? No, no, no. Not me. That would just emphasise all my other missed chances.

No, I’ll snipe from the safety of my tenure. I could have partaken, honestly, but I’m better than that. I’m aware of it, but above it, because, well, I’m an academic.

You have the talent, the time and resources. But you won’t even buy one coin to see what it’s about. You’re wasting your time and ours in a desperate bid to show some kind of superiority. You’ve taken enough advice and explanation with nothing of interest coming back. You’ve had your moment in this thread, presumably because it’s the busiest, but you should have the decency to set up your own and see if anyone will follow and care there.

They are not gone, just pining for the blockchain...
Beautiful funds, those bitcoins.

I've been wracking my brain trying to make sense of everything.  What gets me is that Mark isn't an idiot.  If I assume that the Crisis Strategy Draft is truthy, a scenario like this is more plausible than what we've been fed:

Gox was robbed of a massive amount of coins (800k+) at some prior point in time, possibly June 2011, and has been operating a fractional reserve since.
Gox determined that it was better to continue operating the exchange, probably both for the sake of Bitcoin, and for their customers who would eventually be made whole from fees earned.
Gox knew of transaction malleability and had been keeping that scapegoat in their back pocket to use in the event of a bank run.  Or, they didn't know but the losses from TM were actually recent and minor.  Or, they didn't know but the losses from TM occurred over a long period of time and they never noticed because they never reconciled the books, because they knew they wouldn't match anyway because they were already fractional.
Fiat withdrawal problems led to an increased uptick of BTC withdrawals, outpacing BTC deposits and draining reserves to 0.  This may have been compounded by an actual problem with transaction malleability that accelerated the process.
Gox spent its fiat reserves and customers' fiat reserves to buy up BTC in order to keep the ship afloat until they could launch their rebranded Gox.com and Bitpocket wallet, which they'd hoped would provide more runway in the form of additional BTC deposits.
Gox doesn't make it happen in time and is forced to shut down, negative on fiat by millions and having lost all BTC.

Those funds are no more. They have has ceased to be. They have expired and gone to meet Satoshi. They are late funds. They are vapor. Bereft of existence, they rest in peace. If Karpeles hadn't left them on the balance sheet, they would've been written off ages ago. They've rung down the curtain and joined the choir invisible. They are ex-funds.