Wall Observer BTC/USD - Bitcoin price movement tracking & discussion - page 29230.

Carra23

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Quote from: Peter R on February 25, 2014, 04:05:51 PM

Quote from: wetroof on February 25, 2014, 03:52:46 PM

I've been thinking due to the volume of trade on bitcoinbuilder, and the efficiency and timeliness of the exchange, that it could be possible that bitcoinbuilder was mtgox coordinated effort to facilitate the selling of goxbtc (which mtgox can fabricate) for real btc in order to raise funds.

Gox, or a company planning to takeover Gox, can right now buy 8 GoxBTC IOUs for 1 real BTC at BitcoinBuilder. This would be a legal way to give depositors a voluntary "haircut" outside of bankruptcy. Eyeballing the bitcoinity chart, it looks like they've done about 80,000 GoxBTC in trades. A lot of this was swing trading, but perhaps 20,000 GoxBTC have been bought for an average price of 0.25, or 5,000 BTC.

Of course we can't know, but if this was a coordinate effort to buy up the IOUs for cheap, then this action could have reduced Gox's BTC liabilities by about 15,000 BTC.

If the 750,000 BTC loss is FUD, this might make sense...

Would make a lot of sense.
The moment they released the statement about transaction malleability, I knew they were manipulating markets massively.

Richy_T

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Quote from: Dragonkiller on February 25, 2014, 12:11:02 PM

well to the average user/investor having a fully regulated exchange > an exchange that can gox you at any time

Yeah, they will Gox you then the shareholders will get a bailout.

wetroof

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Quote from: Peter R on February 25, 2014, 04:05:51 PM

Quote from: wetroof on February 25, 2014, 03:52:46 PM

I've been thinking due to the volume of trade on bitcoinbuilder, and the efficiency and timeliness of the exchange, that it could be possible that bitcoinbuilder was mtgox coordinated effort to facilitate the selling of goxbtc (which mtgox can fabricate) for real btc in order to raise funds.

Gox, or a company planning to takeover Gox, can right now buy 8 GoxBTC IOUs for 1 real BTC at BitcoinBuilder. This would be a legal way to give depositors a voluntary "haircut" outside of bankruptcy. Eyeballing the bitcoinity chart, it looks like they've done about 80,000 GoxBTC in trades. A lot of this was swing trading, but perhaps 20,000 GoxBTC have been bought for an average price of 0.25, or 5,000 BTC.

Of course we can't know, but if this was a coordinate effort to buy up the IOUs for cheap, then this action could have reduced Gox's BTC liabilities by about 15,000 BTC.

If the 750,000 BTC loss is FUD, this might make sense...

That's a good way to look at it thanks! Would it not be possible for Mtgox to credit an internal address with 1000 GoxBTC / IOU's, deposit them on BitcoinBuilder and buy up real btc?

jojo69

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diamond-handed zealot

Quote from: KeyserSoze on February 25, 2014, 03:53:22 PM

Quote from: jojo69 on February 25, 2014, 03:48:13 PM

Ahh yes, the bitcoinica "thing"
I got "Tounged" for ten

As your personal Lord and Saviour I would just like you to know I have a reason for everything that happens to you. It was not a mistake of mine to make that happen. I have a grand scheme just for you and that episode was a part of it. Keep the faith.

ROFL!!

7thKingdom

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Quote from: Rampion on February 25, 2014, 04:12:34 PM

"A cold wallet technique that can't be broken, because of the cryptographic implications"

That's obviously a fake - and one written by someone with very little knowledge of what he is writing about.

billyjoeallen

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Hide your women

Quote from: Undone on February 25, 2014, 04:07:06 PM

Quote from: delphic on February 25, 2014, 03:53:14 PM

Quote from: polyclef on February 25, 2014, 03:40:30 PM

Quote from: magicmexican on February 25, 2014, 12:28:09 PM

I'm 99% certain the Facebook gox.com page is a fake.

For a start, why not put it all on the gox.com or mtgox.com websites?

I also really love the misspelling of "exaggerated."

Yeah, that typo really stands out. What would be really terrifying to me is if this ISN'T a fake. A new Gox with notices like that would be like a bad rash returning.

Spaceman_Spiff

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Quote from: HairyMaclairy on February 25, 2014, 03:56:12 PM

BFX down for anyone else? I can't reach it or bitcoinwisdom.

both fine

Rampion

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"A cold wallet technique that can't be broken, because of the cryptographic implications"

That's obviously a fake - and one written by someone with very little knowledge of what he is writing about.

Undone

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Quote from: delphic on February 25, 2014, 03:53:14 PM

Quote from: polyclef on February 25, 2014, 03:40:30 PM

Quote from: magicmexican on February 25, 2014, 12:28:09 PM

I'm 99% certain the Facebook gox.com page is a fake.

For a start, why not put it all on the gox.com or mtgox.com websites?

I also really love the misspelling of "exaggerated."

Peter R

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Quote from: wetroof on February 25, 2014, 03:52:46 PM

I've been thinking due to the volume of trade on bitcoinbuilder, and the efficiency and timeliness of the exchange, that it could be possible that bitcoinbuilder was mtgox coordinated effort to facilitate the selling of goxbtc (which mtgox can fabricate) for real btc in order to raise funds.

Gox, or a company planning to takeover Gox, can right now buy 8 GoxBTC IOUs for 1 real BTC at BitcoinBuilder. This would be a legal way to give depositors a voluntary "haircut" outside of bankruptcy. Eyeballing the bitcoinity chart, it looks like they've done about 80,000 GoxBTC in trades. A lot of this was swing trading, but perhaps 20,000 GoxBTC have been bought for an average price of 0.25, or 5,000 BTC.

Of course we can't know, but if this was a coordinate effort to buy up the IOUs for cheap, then this action could have reduced Gox's BTC liabilities by about 15,000 BTC.

If the 750,000 BTC loss is FUD, this might make sense...

ChartBuddy

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Explanation

billyjoeallen

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Quote from: ?? on ??

Quote from: billyjoeallen on February 25, 2014, 03:32:09 PM

Quote from: ?? on ??

Quote from: billyjoeallen on February 25, 2014, 03:15:43 PM

What is most concerning to me is that even after all that's happened, MK still has not admitted he has done a single thing wrong. If that is the sort of personality at the center of this mess, then how could someone help him even if they wanted to?

Sociopath.

Quite possibly. I am not at all optimistic that whatever negotiations are happening are going well. It's like Mark got caught in a pre-flop bluff and is doubling down on the flop, the turn and the river- PLAYING WITH HIS CUSTOMER'S FUNDS! He shouldn't be negotiating at all. He should be groveling at the foot of whoever can save the people who trusted him. If he doesn't, he'll go to jail or get murdered.

There's worse things in life than being a loser, Mark. I'm afraid you are about to find out what those things are.

With the general lack of communication and the phrasing of what little communication does come, he has to be a sociopath. He simply refuses to take any blame what-so-ever when Gox is the only entity that can be blamed for Gox's multiple failures. I haven't seen a shred of empathy for his customers either.

He seems to make the worst possible choices at every turn. Randomly deleting the twitter account and website. WTF?

If Gox was tasked with destroying Bitcoin, we would be at $75,000 per coin right now.

The worst part is the threads of hope he is dangling for his victims. "litecoin", "a turning point", etc. Give these poor bastards some fucking closure. I just want him gone. I hope Gox survives without him, but if he's still running the show, I want it to burn to the ground.

Loozik

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Born to chew bubble gum and kick ass

Quote from: wetroof on February 25, 2014, 03:52:46 PM

I've been thinking due to the volume of trade on bitcoinbuilder, and the efficiency and timeliness of the exchange, that it could be possible that bitcoinbuilder was mtgox coordinated effort to facilitate the selling of goxbtc (which mtgox can fabricate) for real btc in order to raise funds.

Maybe.

The problem is Gox isn't communicating anything! I could live with my funds lost but at least I need to have this info from the official source.

HairyMaclairy

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Degenerate bull hatter & Bitcoin monotheist

BFX down for anyone else? I can't reach it or bitcoinwisdom.

KeyserSoze

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Quote from: jojo69 on February 25, 2014, 03:48:13 PM

Ahh yes, the bitcoinica "thing"
I got "Tounged" for ten

As your personal Lord and Saviour I would just like you to know I have a reason for everything that happens to you. It was not a mistake of mine to make that happen. I have a grand scheme just for you and that episode was a part of it. Keep the faith.

delphic

full member

Activity: 378

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Quote from: polyclef on February 25, 2014, 03:40:30 PM

Quote from: magicmexican on February 25, 2014, 12:28:09 PM

I'm 99% certain the Facebook gox.com page is a fake.

For a start, why not put it all on the gox.com or mtgox.com websites?

wetroof

member

Activity: 75

Merit: 10

I've been thinking due to the volume of trade on bitcoinbuilder, and the efficiency and timeliness of the exchange, that it could be possible that bitcoinbuilder was mtgox coordinated effort to facilitate the selling of goxbtc (which mtgox can fabricate) for real btc in order to raise funds.

Stanr010

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Activity: 70

Merit: 10

Quote from: polyclef on February 25, 2014, 03:40:30 PM

Quote from: magicmexican on February 25, 2014, 12:28:09 PM

Interesting. But I really wish mtgox would stay dead.

thoughtfan

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Quote from: Super T on February 25, 2014, 03:12:45 PM

Quote from: Super T on February 25, 2014, 02:51:59 PM

Live on sky news now

Sky news story was the expected doom and gloom, half warranted, half not. The bitcoin lawyer dude was on it, I'll give him 4/10.

Gox story now also incoming on BBC news 24.

Urgh. Not a good day to be long and leveraged in the bitcoin futures market.

Robert Peston's take is quite interesting though... http://www.bbc.co.uk/news/business-26335547

jojo69

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diamond-handed zealot

Quote from: proudhon on February 25, 2014, 03:40:12 PM

Quote from: ?? on ??

Quote from: proudhon on February 25, 2014, 03:22:27 PM

150+ of my bitcoins are going down with the gox ship

I am disappoint.

It was from the bitcoinica thing, but gox never cooperated and just kept everyone's coins. That was 2012 and after that I got the fuck out of gox.

Ahh yes, the bitcoinica "thing"

I got "Tounged" for ten

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