Topic: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion - page 29260. (Read 26610834 times)

How can they still trade without being able to move goxBTC between users or are they only trading imaginary goxBTC instead of realgoxBTC? Will there soon be yet another market on top of this where one can trade bitcoinbuilder account balances for BTC?

Sorry, I'm in the UK.
No internet access yesterday and after a long hard night I only fell out of bed an hour ago.
 

How can they still trade without being able to move goxBTC between users or are they only trading imaginary goxBTC instead of realgoxBTC? Will there soon be yet another market on top of this where one can trade bitcoinbuilder account balances for BTC?

goxcoins are still for sale. wtf

http://bitcoinity.org/markets/bitcoinbuilder/GOXBTC

The chart in the logo representing goxbux history is a nice touch - from zero up down up higher back down to zero!

Blockchain.info just posted a new statement on their blog:

Welcome to yesterday. Or was it the day before that?

Uh? https://www.facebook.com/goxbitcoin

Welcome to yesterday. Or was it the day before that?

Blockchain’s fundamental design is based upon us having no access to customer funds or keys. This is achieved by making all transactions occur in the end-user’s browser, “client-side” with open-source and auditable software. We at Blockchain never store unencrypted keys, passwords, bitcoins or the have the ability to create transactions. This ensures that users’ bitcoins are not only secure from a broad-based attack on Blockchain, but are even secure from Blockchain and that’s deliberate. We don’t control your bitcoins; you do.

Blockchain has always recommended that users store their bitcoins in such a way as to maintain control and ownership of their keys. Custodial accounts, like those used by Mt. Gox, where other people hold the keys to your bitcoins are risky. Instead, customers should use services like Blockchain.info, where keys are decrypted in the browser, not held on the servers. Alternatively, use a desktop client such as Armory, Bitcoin-Qt, Multibit or Electrum. All of these store the keys in a local, encrypted file that is not shared with any servers or held by anyone else.

Last night, we were shocked to find out about Mt. Gox’s insolvency, as they appear to have committed a grievous breach of trust against their customers.

The Blockchain staff will continue to collaborate with other industry leaders to establish better controls to ensure that events like this are not repeated. We are hopeful that together we can create a more trustworthy industry for the benefit of all existing and future Bitcoin holders.

Here's a bullish thought:

Total and sudden Gox insolvency (fraudulent or not, doesn't matter for now) is the best way this situation could have resolved.

740k coins, *extremely cheap* coins compared to the other exchanges, won't hit the market once Gox re-opens as traders arbitrage the shit out of 500+ prices on Bitstamp.

Sure, those coins will hit the market at some point, when Mark wants to buy that cozy Carribean private island, but they have to be laundered first of course.

For now, it's a big relief that the flood gates of cheap goxbux cannot be opened anymore.