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Topic: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion - page 29297. (Read 26686327 times)

full member
Activity: 148
Merit: 100
So, how long is Mark going to let the site be down and trading suspended before he provides some sort of explanation? 
Hours, days, weeks?
Could this be his exit strategy?

Their strategy so far has been to deny everything, admit no wrongdoing, shift blame.  The only time they will explain truthfully has come out in leaks, and might even come out of court proceedings or otherwise.
newbie
Activity: 15
Merit: 0
Not surre if this was already posted, but, from: http://www.reddit.com/r/BitcoinMarkets/comments/1yuuok/daily_discussion_tuesday_february_25_2014_early/cfnzt9i


So here's what has happened for those who can't keep up. I doubt any of this is a pure coincidence given the time frame.

1.) MtGox allegedly lose 750,000 Bitcoins, according to a leaked document in the hands of TwoBitIdiot, a known person within the Bitcoin community.

2.) He then decides to leak the document to the public 1 - 2 hours later confirming this number, and within the document it says they are to rebrand as http://gox.com and lie their way out of this mess.

3.) After the document is leaked, MtGox halts trades immediately (Around 5 minutes after)

4.) At this point, http://gox.com is still a parked domain, and not long after starts to redirect to http://mtgox.com (EDIT: More information on the domain situation from chris45215, which basically confirms that MtGox were indeed planning to relaunch as Gox.com as explained in the leaked document)

5.) After around 30 minutes, Coinbase, Blockchain, Circle and Kraken simultaneously release identical articles titled "Joint Statement Regarding the Insolvency of Mt.Gox" (EDIT: Since then, some of the articles have removed the word "insolvency", but not all of them.)

6.) A further 5 minutes later, http://mtgox.com is taken completely offline.

7.) And now we are here, with not a single word from MtGox.
sr. member
Activity: 378
Merit: 250
Someone needs to start an exchange ratings business or private regulatory business for Bitcoin to prove we don't need government regulation.
legendary
Activity: 1904
Merit: 1037
Trusted Bitcoiner
So, how long is Mark going to let the site be down and trading suspended before he provides some sort of explanation? 
Hours, days, weeks?
Could this be his exit strategy?
months.
full member
Activity: 152
Merit: 100
My guess is that today someone doing quick arbitrages on stamp, thats why so many market order dumps out of the blue.

A huge chunk of bitstamps fiat was drained from the 5.5mUSD sell hours so. Its probably people sensing the lack of buying pressure and dumping.

Asks are up and bid sum down on stamp. Looks bleak.

or it is gox coins
legendary
Activity: 3920
Merit: 2349
Eadem mutata resurgo
At the minimum a ratings agency for exchanges and Coiinbase and anyone else who secures bitcoins for others has a ready-made market.

An it is easy to do with the blockchain balances provable.
member
Activity: 107
Merit: 10
The Bitcoin Foundation should audit, certify, rank, and give a seal of approval for each exchange.

You mean the Shrem Karpeles & Friends Foundation?


Latest tweet from TwoBitItidiot... "Thanks, man. I never mince words, I think this is disastrous from a reg standpoint. The hammer will now come down hard."

The conspiracy theorist in me can't help but to think the bitcoin foundation was compliant in all this and intentionally deceived the community.  They have been very pro regulation for a long time, and what better way to ensure the US comes down hard with regulation than making a grand show of what can happen without it.

It's genius I tell you!
hero member
Activity: 686
Merit: 500
Ultranode
https://twitter.com/Percival/status/438164050682204161

Quote
Larger statement from Blockchain coming at 7am ET tomorrow.
legendary
Activity: 2772
Merit: 1028
Duelbits.com
Meanwhile on Bitcoinbuilder:

Open Orders
Last Trade Price: 0.14 ฿ (Gox/Bitstamp: 0.266) Vol: 41060 GOXBTC


people paying that much are retarded.

I've just opened 20 BTC bid there but nowhere close to that.
hero member
Activity: 1036
Merit: 524

I'm exhausted. Good night guys, save some cheap coins for me when I wake up please.
sr. member
Activity: 308
Merit: 250
Meanwhile on Bitcoinbuilder:

Open Orders
Last Trade Price: 0.14 ฿ (Gox/Bitstamp: 0.266) Vol: 41060 GOXBTC
zyk
full member
Activity: 224
Merit: 101
Who will Karpelas sue, and what will be the effect?

Sue him for what he doesn't have?

The empty GOX Limited shell gave costumers coins of course in his pockets.....he is riding in the sunset with the heist, if he can fake

whatever data explaining that he is not to blame that costumers coins went to such and such adress....the laywers will make sure to prove

that they deserve it Wink
hero member
Activity: 686
Merit: 500
Ultranode
https://twitter.com/CharlieShrem/statuses/438163408165535744

Quote
I disagree, I knew he had buyers lined up. However with this leak (if its true) let's see if they still want to bail out Gox.

^just posted
legendary
Activity: 1414
Merit: 1000
HODL OR DIE
Apparently that crazy document was real.  Restructuring coming...
http://www.domaininvesting.com/andy-booth-sells-gox-com/

Wow, 700K Bitcoins was a lot to pay for it!  Wink

Going to have to buy 700k btc on bitstamp: to the moon.
legendary
Activity: 3388
Merit: 4775
diamond-handed zealot
welcome back goat
legendary
Activity: 2186
Merit: 1213
Hahah wtf man making always wrong decisions when it comes to money  Cry

Sold and now we go up...
hero member
Activity: 910
Merit: 1003
The Bitcoin Foundation should audit, certify, rank, and give a seal of approval for each exchange.

You mean the Shrem Karpeles & Friends Foundation?
sr. member
Activity: 378
Merit: 250
What sucks is that if Gox does come back and repay everyone's funds/BTC, whoever wasn't left with BTC in their account will get royally screwed. By the time things are up and running the BTC price on Gox will be near the rest of the exchanges. So, you'll have lost your coins.
hero member
Activity: 560
Merit: 500
Apparently that crazy document was real.  Restructuring coming...
http://www.domaininvesting.com/andy-booth-sells-gox-com/

Wow, 700K Bitcoins was a lot to pay for it!  Wink
member
Activity: 107
Merit: 10
The Bitcoin Foundation should audit, certify, rank, and give a seal of approval for each exchange. Keeping people like Mark and Gox from operating, with users under the false assumption that they will actually get btc or fiat. The exchange itself should pay for this service, and in return be listed as a trusted exchange. We should then point first time buyers to the Foundation page with up to date exchange info.

You mean the same foundation that had Mark on the board during the ENTIRE debacle?

I'm sorry, but at best they are completely ignorant and neglectful and at worst completely deceitful and untrustworthy.
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