Topic: Wall Observer - MtGoxUSD wall movement tracker - page 1147. (Read 1811709 times)

Quote from: kentrolla on July 20, 2012, 11:21:55 PM

Quote from: kentrolla on July 20, 2012, 11:17:53 PM

Quote from: kentrolla on July 20, 2012, 11:13:35 PM

so how would they recover from this? their site still lets people withdraw bitcoins. and bitcoin transactions are irreversible. so what do they do? they can't just do a rollback.

They could easily look at your withdrawal history and then take your account that much bitcoins...simple accounting...

what if you never plan on using that account again?

So you withdrew coins that were tied up in an order right? Say a sell order...

They will just not give you your fiat that got converted...how is there any gain there for you?

if you withdrew coins to your wallet how would they reverse that transaction? they would just have an account that has -200btc on it? who would use that?

They wouldnt reverse it. You wouldn't get anything else but the coins that you had in the first place....i'm still not following you...

no, say you made 200btc off of this chaos. then withdrew it to your wallet. what could they do about it?

How would you "make" 200 btc? I still don't get it......wtf?

If no one was able to buy/sell during the malfunction they could just rollback to what it was like before it froze up. I was thinking that some people still got their orders filled during the whole mess. I'm now speculating that no one was able to buy/sell from mtgox at the time. At least i hope so. otherwise a rollback would not be an option

now is not the time to speculate or spread FUD. this has happened before as i said above. let's wait for Tux to give us an explanation. i might head over to IRC to see if he's over there.

sadpandatech

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Quote from: kentrolla on July 20, 2012, 11:21:55 PM

Quote from: kentrolla on July 20, 2012, 11:17:53 PM

Quote from: kentrolla on July 20, 2012, 11:13:35 PM

so how would they recover from this? their site still lets people withdraw bitcoins. and bitcoin transactions are irreversible. so what do they do? they can't just do a rollback.

They could easily look at your withdrawal history and then take your account that much bitcoins...simple accounting...

what if you never plan on using that account again?

So you withdrew coins that were tied up in an order right? Say a sell order...

They will just not give you your fiat that got converted...how is there any gain there for you?

if you withdrew coins to your wallet how would they reverse that transaction? they would just have an account that has -200btc on it? who would use that?

if you withdrew coins to your wallet then they were NOT actually 'tied' up in a transaction. If you have a buy or sell that actually gets executed in the order book that's it. no take backs... That is one thing that Gox thus far has not had any issues with. And I highly doubt it is the case now. Likely scenario is, HUGE ass order got executed, the book steps through all available orders and pauses any pending ones as it works through it. Meaning, if you put in an order while this was happening, no matter whether it displayed pending or not on your screen then nothing actually happened with your funds. Seeing a change on your screen does not = a change in the book that is actually executing orders.

kentrolla

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Quote from: smoothie on July 20, 2012, 11:26:40 PM

Quote from: kentrolla on July 20, 2012, 11:25:04 PM

Quote from: kentrolla on July 20, 2012, 11:21:55 PM

Quote from: kentrolla on July 20, 2012, 11:17:53 PM

Quote from: kentrolla on July 20, 2012, 11:13:35 PM

so how would they recover from this? their site still lets people withdraw bitcoins. and bitcoin transactions are irreversible. so what do they do? they can't just do a rollback.

They could easily look at your withdrawal history and then take your account that much bitcoins...simple accounting...

what if you never plan on using that account again?

So you withdrew coins that were tied up in an order right? Say a sell order...

They will just not give you your fiat that got converted...how is there any gain there for you?

if you withdrew coins to your wallet how would they reverse that transaction? they would just have an account that has -200btc on it? who would use that?

They wouldnt reverse it. You wouldn't get anything else but the coins that you had in the first place....i'm still not following you...

no, say you made 200btc off of this chaos. then withdrew it to your wallet. what could they do about it?

How would you "make" 200 btc? I still don't get it......wtf?

If no one was able to buy/sell during the malfunction they could just rollback to what it was like before it froze up. I was thinking that some people still got their orders filled during the whole mess. I'm now speculating that no one was able to buy/sell from mtgox at the time. At least i hope so. otherwise a rollback would not be an option

proudhon

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This sort of thing has happened before, IIRC. It didn't seem like it was a big deal to sort out and fix.

smoothie

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Quote from: cypherdoc on July 20, 2012, 11:26:07 PM

Quote from: kentrolla on July 20, 2012, 11:25:04 PM

Quote from: kentrolla on July 20, 2012, 11:21:55 PM

Quote from: kentrolla on July 20, 2012, 11:17:53 PM

Quote from: kentrolla on July 20, 2012, 11:13:35 PM

so how would they recover from this? their site still lets people withdraw bitcoins. and bitcoin transactions are irreversible. so what do they do? they can't just do a rollback.

They could easily look at your withdrawal history and then take your account that much bitcoins...simple accounting...

what if you never plan on using that account again?

So you withdrew coins that were tied up in an order right? Say a sell order...

They will just not give you your fiat that got converted...how is there any gain there for you?

if you withdrew coins to your wallet how would they reverse that transaction? they would just have an account that has -200btc on it? who would use that?

They wouldnt reverse it. You wouldn't get anything else but the coins that you had in the first place....i'm still not following you...

no, say you made 200btc off of this chaos. then withdrew it to your wallet. what could they do about it?

so it didn't actually happen and you're just spreading FUD.

+1

smoothie

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Quote from: kentrolla on July 20, 2012, 11:25:04 PM

Quote from: kentrolla on July 20, 2012, 11:21:55 PM

Quote from: kentrolla on July 20, 2012, 11:17:53 PM

Quote from: kentrolla on July 20, 2012, 11:13:35 PM

so how would they recover from this? their site still lets people withdraw bitcoins. and bitcoin transactions are irreversible. so what do they do? they can't just do a rollback.

They could easily look at your withdrawal history and then take your account that much bitcoins...simple accounting...

what if you never plan on using that account again?

So you withdrew coins that were tied up in an order right? Say a sell order...

They will just not give you your fiat that got converted...how is there any gain there for you?

if you withdrew coins to your wallet how would they reverse that transaction? they would just have an account that has -200btc on it? who would use that?

They wouldnt reverse it. You wouldn't get anything else but the coins that you had in the first place....i'm still not following you...

no, say you made 200btc off of this chaos. then withdrew it to your wallet. what could they do about it?

How would you "make" 200 btc? I still don't get it......wtf?

zvs

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https://web.archive.org/web/*/nogleg.com

Quote from: kentrolla on July 20, 2012, 11:25:04 PM

Quote from: kentrolla on July 20, 2012, 11:21:55 PM

Quote from: kentrolla on July 20, 2012, 11:17:53 PM

Quote from: kentrolla on July 20, 2012, 11:13:35 PM

so how would they recover from this? their site still lets people withdraw bitcoins. and bitcoin transactions are irreversible. so what do they do? they can't just do a rollback.

They could easily look at your withdrawal history and then take your account that much bitcoins...simple accounting...

what if you never plan on using that account again?

So you withdrew coins that were tied up in an order right? Say a sell order...

They will just not give you your fiat that got converted...how is there any gain there for you?

if you withdrew coins to your wallet how would they reverse that transaction? they would just have an account that has -200btc on it? who would use that?

They wouldnt reverse it. You wouldn't get anything else but the coins that you had in the first place....i'm still not following you...

no, say you made 200btc off of this chaos. then withdrew it to your wallet. what could they do about it?

how could you?

did sell orders already in place get processed and you kept your coins?

i dunno, i didnt realize it was locked up when i placed my sell. so, it didnt go thru anyway.

Bjork

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Look for the bear necessities!!

So who is signing up for an Intersango acc now? Cheesy

Do they take gox codes i wonder?.. Grin

cypherdoc

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Quote from: kentrolla on July 20, 2012, 11:25:04 PM

Quote from: kentrolla on July 20, 2012, 11:21:55 PM

Quote from: kentrolla on July 20, 2012, 11:17:53 PM

Quote from: kentrolla on July 20, 2012, 11:13:35 PM

so how would they recover from this? their site still lets people withdraw bitcoins. and bitcoin transactions are irreversible. so what do they do? they can't just do a rollback.

They could easily look at your withdrawal history and then take your account that much bitcoins...simple accounting...

what if you never plan on using that account again?

So you withdrew coins that were tied up in an order right? Say a sell order...

They will just not give you your fiat that got converted...how is there any gain there for you?

if you withdrew coins to your wallet how would they reverse that transaction? they would just have an account that has -200btc on it? who would use that?

They wouldnt reverse it. You wouldn't get anything else but the coins that you had in the first place....i'm still not following you...

no, say you made 200btc off of this chaos. then withdrew it to your wallet. what could they do about it?

so it didn't actually happen and you're just spreading FUD.

kentrolla

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Quote from: kentrolla on July 20, 2012, 11:21:55 PM

Quote from: kentrolla on July 20, 2012, 11:17:53 PM

Quote from: kentrolla on July 20, 2012, 11:13:35 PM

so how would they recover from this? their site still lets people withdraw bitcoins. and bitcoin transactions are irreversible. so what do they do? they can't just do a rollback.

They could easily look at your withdrawal history and then take your account that much bitcoins...simple accounting...

what if you never plan on using that account again?

So you withdrew coins that were tied up in an order right? Say a sell order...

They will just not give you your fiat that got converted...how is there any gain there for you?

if you withdrew coins to your wallet how would they reverse that transaction? they would just have an account that has -200btc on it? who would use that?

They wouldnt reverse it. You wouldn't get anything else but the coins that you had in the first place....i'm still not following you...

no, say you made 200btc off of this chaos. then withdrew it to your wallet. what could they do about it?

John (John K.)

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Away on an extended break

Quote from: kentrolla on July 20, 2012, 11:21:55 PM

Quote from: kentrolla on July 20, 2012, 11:17:53 PM

Quote from: kentrolla on July 20, 2012, 11:13:35 PM

so how would they recover from this? their site still lets people withdraw bitcoins. and bitcoin transactions are irreversible. so what do they do? they can't just do a rollback.

They could easily look at your withdrawal history and then take your account that much bitcoins...simple accounting...

what if you never plan on using that account again?

So you withdrew coins that were tied up in an order right? Say a sell order...

They will just not give you your fiat that got converted...how is there any gain there for you?

if you withdrew coins to your wallet how would they reverse that transaction? they would just have an account that has -200btc on it? who would use that?

Lol, has the order pass through yet? I can 'sell' 1000 BTC although my account has 0 BTC now. Gox has frozen everything I'd wager.

cypherdoc

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as long as no coins were stolen i doubt there will be any effect. a similar event happened last Spring when for about 8h Gox was shut down from a DoS attack. no problem.

edit: actually i think Gox was down for about 2 days from that DoS attack.

smoothie

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Quote from: kentrolla on July 20, 2012, 11:21:55 PM

Quote from: kentrolla on July 20, 2012, 11:17:53 PM

Quote from: kentrolla on July 20, 2012, 11:13:35 PM

so how would they recover from this? their site still lets people withdraw bitcoins. and bitcoin transactions are irreversible. so what do they do? they can't just do a rollback.

They could easily look at your withdrawal history and then take your account that much bitcoins...simple accounting...

what if you never plan on using that account again?

So you withdrew coins that were tied up in an order right? Say a sell order...

They will just not give you your fiat that got converted...how is there any gain there for you?

if you withdrew coins to your wallet how would they reverse that transaction? they would just have an account that has -200btc on it? who would use that?

They wouldnt reverse it. You wouldn't get anything else but the coins that you had in the first place....i'm still not following you...

smoothie

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Quote from: Bjork on July 20, 2012, 11:21:48 PM

At first I was pretty mad that I sold right before that millionaire bought in

But now I'm glad I did because I think Kentrolla is probably right, BTC will at least momentarily dip quite a bit because of this

Good thing all I had was fiat then...

kentrolla

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Quote from: kentrolla on July 20, 2012, 11:17:53 PM

Quote from: kentrolla on July 20, 2012, 11:13:35 PM

so how would they recover from this? their site still lets people withdraw bitcoins. and bitcoin transactions are irreversible. so what do they do? they can't just do a rollback.

They could easily look at your withdrawal history and then take your account that much bitcoins...simple accounting...

what if you never plan on using that account again?

So you withdrew coins that were tied up in an order right? Say a sell order...

They will just not give you your fiat that got converted...how is there any gain there for you?

if you withdrew coins to your wallet how would they reverse that transaction? they would just have an account that has -200btc on it? who would use that?

smoothie

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Quote from: cypherdoc on July 20, 2012, 11:20:51 PM

Quote from: kentrolla on July 20, 2012, 11:19:42 PM

seriously though. does anyone see a way of successfully recovering from this? u can't just rollback bitcoins.

what evidence is there that a hacker has stolen coins?

He think because he withdrew coins that were tied up in a sell order that he has actually "gained" something...i dunno what he's talking about...

Bjork

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Look for the bear necessities!!

At first I was pretty mad that I sold right before that millionaire bought in

But now I'm glad I did because I think Kentrolla is probably right, BTC will at least momentarily dip quite a bit because of this

cypherdoc

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Quote from: kentrolla on July 20, 2012, 11:19:42 PM

seriously though. does anyone see a way of successfully recovering from this? u can't just rollback bitcoins.

what evidence is there that a hacker has stolen coins?

smoothie

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Quote from: kentrolla on July 20, 2012, 11:17:53 PM