Mt. Gox USD Withdrawals To Take Up To 22 Months

[Forexmagnates] MtGox Announces Withdrawals Soon, FXOpen Launches Bitcoin Trading and Plus500 and eToro Change Feeds (small mention)

[Forexmagnates] MtGox Announces Withdrawals Soon, FXOpen Launches Bitcoin Trading and Plus500 and eToro Change Feeds (small mention) submitted by Fingebimus to DogeNews [link] [comments]

Some light on the horizon for Gox

I've been watching the mtgox transaction stream for the last hour (https://data.mtgox.com/api/0/bitcoin_tx.php) and it seems transactions are going through. You can check for yourself, download a copy of the output on that link, check again 10-15 minutes later and you'll see that some transactions are missing. If you enter the missing transaction IDs on the blockchain, you can see they went through. Here are some I found:
https://blockchain.info/ntxid/2bf78fb8e8765ee8dc1224e74739f60c1a3e50515a41792fc6862aeeb95ab568 https://blockchain.info/ntxid/ad86f98e259314cf53eb242c18d92cc7aefcc73f36d824bfe96ca8ec0dd51317 https://blockchain.info/ntxid/057457615c3f1bd9adee741265e11b08041f0fdf768fb40000ad3dc7c0da4e80
Add to that the reports that some users have received their $5k - $10k withdrawals initiated in early January, I'd say that thing are looking up :-)
Edit: Proof part #1:
As idlestabilizer pointed out, the status of a transaction may be queried using the mtgox api like this: https://data.mtgox.com/api/1/generic/bitcoin/tx_details?hash=6a88f7d50024f6e1d27c803b0df5324d44c1889bcce7557b1f13c50712a1812b As you can verify on blockchain.info, hash "6a88f7d50024f6e1d27c803b0df5324d44c1889bcce7557b1f13c50712a1812b" belongs to transaction id with ntxid 2bf78fb8e8765ee8dc1224e74739f60c1a3e50515a41792fc6862aeeb95ab568, using the URL https://blockchain.info/ntxid/2bf78fb8e8765ee8dc1224e74739f60c1a3e50515a41792fc6862aeeb95ab568 .
This proves that this transaction is 1) confirmed and 2) originated from mtgox.
Update: as I just found out, this API URL returns info for all valid TX hashes (though a little delayed), not just the ones originating from mtgox. So, still waiting for one of the transactions to confirm which I uploaded into this pastebin (see below). New transactions have been added on the tx feed, this implies they are making progress on their announcement of testing their withdrawal queue. Some of those queued transactions have been confirmed, but, none of them have confirmed yet since my post. I'll update here as soon as that happens.
Request: Kometes_ kindly suggested this might show activity of internal withdrawals due to Bitcoinbuilder. Can anyone with a verified mtgox and bitcoinbuilder account please step forward to test this? :-) (If you have bought goxbtc, could you verify + post proof that there was a deposit on your mtgox deposit address as a result?). It seems an interesting theory to pursue, but I'm not sure what the outcome would be. Do internal balance changes actually show up on the block chain, or are these handled internally by mtgox' ledgers?
Update on request: two users have indicated bitcoinbuilder transactions do not show up on the block chain. Also, Ancercopes says bitcoinbuilder transactions occur at a different time and are executed manually.
Edit: Proof part #2:
Confirmed withdrawal is confirmed :-) In this pastebin I posted earlier as preparation for hard proof, this transaction was included, and that transaction is now gone from the mtgox tx feed, but it's sitting on the block chain as confirmed!
Edit: Proof part #3:
And another one just came through from the most recent pastebin: https://blockchain.info/ntxid/702e8e986d98267a8a11582311f0972aa742be001f41ccccc442a3d8122a1b7b
Edit: And another one https://blockchain.info/ntxid/e2d43be866549b424324d01f0ff17bd739d9d17dfea12b1b50393941b396c1c5
Edit: Please find nuance in Bitcoin core dev's thread http://www.reddit.com/Bitcoin/comments/1ymwzj/mtgox_still_authoring_invalid_transactions/cflxc0t .
Edit: Some more nuance: as nullc indicated, mtgox is still authoring transactions which will not be relayed by other nodes, but will confirm eventually with high probability. These transactions are not malformed, but generally frowned upon by the network because they contain immature coins. This is a known problem at mtgox. What we're seeing now is that there are also new (possibly test) withdrawals which did not get stuck. And at least fiat withdrawals still seem to be flowing out of mtgox. This is not a complete solution yet, but it is shred of hope as far as I'm concerned.
submitted by bcn00b to Bitcoin [link] [comments]

My protest at MtGox Offices - 5 to 7th February 2014, Tokyo, Japan.

Day 1 – Wednesday 5 February
After repeated and failed attempts to withdraw my BTC from MtGox, I decided to jump on a plane and pay them a visit in Tokyo.
After a 16 hr. flight from Australia I went straight to their offices, arriving at around 4pm. The receptionist in the lobby told me there was no one available to meet me and I should arrange an appointment.
I refused to leave and after about 15 mins or so, the receptionist handed me the telephone to speak with a member of MtGox support. The support person referred me to their website. After a ‘lively’ conversation I told him I wasn’t gong anywhere, I didn’t travel 16 hrs to read a website I could have read at home. I would wait for Mark Karpeles to come down.
Same thing happened 15 mins later, another call, more non-sense about technical issues, and a suggestion the authorities might have to be called. I told him great, I could lodge an official complaint against MtGox while they were here.
After some hours had passed, the building cleared out and the receptionists left for the night. I was alone in the lobby. Then at approximately 8 pm, I was suddenly greeted by Gonzague Gay-Bouchery, Manager Business Development, and Mark Karpeles right hand man.
I recognized him from some news articles. I thought great, and straight away put some burning questions to him:
Q1. What is causing the withdrawal delays?
• Well, because Gox is the best known of all the exchanges, we have been under the regulatory spotlight.
• This has created problems with government agencies, and also with our banking partners.
• There are also some ongoing investigations, which we cannot talk about.
Q.2 Sure, and this would explain the FIAT delays, but what about the BTC delays; you can’t blame that on anyone else.
• The BTC withdrawal issue is a technical one, and one that has previously affected the MtGox system, our engineers are working hard to resolve the problem.
• As of now, some BTC withdrawals were going through
• For those transactions that remain broken for a week, the balance of BTC will be returned to a customers MtGox account.
Q3. A great way to buy time for a liquidity problem?
• No, it’s a technical issue.
Q4. So why are so many of the input addresses feeding into transactions in the queue coming up empty?
• This is a complex technical issue to which neither of us know the answer
Q5. Try to explain it to me.
• Its technical
Q6. There are over 40,000 BTC in the withdrawal queue, isn’t that the electronic equivalent of a bank run?
• The 40,000 figure is not correct, and the goxreport isn’t accurate.
Q.7 But I actually obtained this data from Delerium’s website who is a gox employee / contractor / associate.
• I will have to look into that.
Q8. Why doesn’t Gox prove they are solvent by transferring a large quantity of BTC between two internal wallets like Mark previously did. Then we can all check it out on the blockchain and be reassured?
• The overwhelming majority of BTC are held in cold storage. Logistically and legally in would be difficult to replicate the transfer “trick” Mark previously employed at Gox to prove their solvency.
Q9. Try me, how hard is it, what exactly is involved?
• Obviously I can’t go into too much detail for security reasons, but it would involve physically obtaining them from 6 or more locations.
Q10. Well, why don’t u do it, isn’t this a critical situation?
• It’s not that straight foreword.
Q11. You do realize no-one believes the technical excuses for the delay in BTC?
• Mt Gox has the coins, it is a technical issue and we need people to be patient.
Q12. What is you view on the poll recently published by Coindesk on Mt Gox?
• Coindesk have a vendetta against MtGox.
Q13. But they one of the most trusted sources of news in the Bitcoin community.
• Some people have it out for Mt Gox.
Q14. How do you explain the vastly different prices that appear on Gox compared with other exchanges? It recently went to 25%.
• Some traders were responsible for the manufacturing the differential in an attempt to financially benefit from arbitrage.
Q15. But people exploiting the arbitrage opportunity would actually reduce the price differential, not widen it.
[I can’t recall receiving a response to this particular point]
Q16. Is MtGox manipulating the price by directly purchasing Bitcoins on their own exchange?
• No, MtGox is not permitted to do this.
[coincidently, almost immediately after this meeting the price on MtGox tanked]
Q17. People have a lot of money tied up in your exchange, and they don’t believe your excuses. All the evidence suggests something more serious going on at gox. You are playing with people’s lives here.
• All the coins are safe; this is merely a technical issue.
When I left the office that night, I wanted to believe that everything was indeed fine, and these were indeed some temporary technical glitches, but this view was somewhat influenced by the fact I still have BTC on their exchange. All the evidence appears to suggest something more serious.
For the record, I gave Gonzague an advance copy of this transcript and offered him the opportunity to have any of his answers amended if he felt I misrepresented him in any way. A member of his support team replied by stating he did not have any comment on my version of the conversation.
Day 2 – Thursday 6 February 2014
I arrived at MtGox early, approximately 8am, and stood outside with a sign reading “MtGox, where has my money gone”. I got some curious looks, and a lot of questions from passersby about my protest.
Then at approximately 9.20 am, Mark Karpeles himself came along carrying a large, and very fancy coffee in his hand that could have passed as a dessert. I immediately confronted him and told him we needed a chat. So he stopped to hear me out.
I told him he was playing with people’s lives, and some people stood to lose their entire savings. Like Gonzague told me the night before, he mentioned technical issues, and that he would look into my case.
Then 20mins later at around 9.40am Gonzague arrived. “Good news” he said, we have sorted out your account, go and check it online. After I got Wi-Fi connection back the hotel I discovered my failed BTC withdrawal transactions had been cancelled and all my BTC were put back in the one place in the world I didn’t want them: The MtGox website. Back to joining the queue of 40,000 other BTCs.
I think this was some sort of ironic joke. I quickly tried to withdraw them again; but surprise, surprise, stuck again.
By late evening, the majority of the other workers in the MtGox building had heard of my protest and were bringing me out sandwiches and beer, and inviting me to lunch. As it turns out, Japan is probably one of the better countries in the world to protest. Everyone is so friendly; I can see why the Goxies choose to set up shop here.
As the evening drew on, it looked like I would have do a late one to catch Mark again on the way out. However, at around 7.30pm, I was approached by a law professor from a local university who has written widely on bitcoin legal issues. He was on his way to a bitcoin “meet-up” and asked me to come along to tell my story to the other bitcoin enthusiasts. I was reluctant to leave the protest but was interested in what other Tokyo resident’s thought of MtGox.
When I arrived, everyone was very interested in hearing my story. There was a general consensus amongst the participants that MtGox was finished as an exchange. They acknowledged that MtGox had played an important role in propelling Bitcoin to what it is today, but its decline and ultimate closure was inevitable.
However, there was some divergent views on the reason for this, most people, including myself are of the view that bad business decisions and incompetence were primarily to blame, while others held the view that government restriction, and secret investigations were hampering MtGox’s ability to function efficiently. Who knows what the truth is, maybe it is a bit of both.
At the end of the day 2, there was a very worrying development, the data feed for the goxreport, and delerium’s MtGox transaction failure website were cut. Perhaps a final act of MtGox’s desperation to hide the truth.
Day 3 – Friday 7 February
I started my protest a little later today in the knowledge that most of the Goxies don’t start work until after 9am. Then there was an unexpected twist; another person showed up looking for Mark. He was an emissary of an early adopter and well known member of the bitcoin community, and was there to collect an eye watering amount of money.
My emotions were mixed on seeing this person; on one hand I was glad to see another protester to fight the good cause. On the other hand, my heart sank in the knowledge that if Mark isn’t paying off his old friends in the bitcoin community then what chance do small fry like me have?
As the emissary and I chatted, Mark Karpeles arrived, and we both confronted him, the conversation went on for some time and most of it conducted in French which I had trouble understanding. However I did mange to record the whole thing on video.
The episode only came to a halt when Gonzague appeared in the lobby and rescued Mark. Very soon after this point, MtGox released a statement announcing that all BTC withdrawals were suspended.
In conclusion, I think i just witnessed MtGox die today. I didn’t get my bitcoin, but glad I came and tried.
submitted by CoinSearcher to Bitcoin [link] [comments]

Trying to get 40,000 BTC out of the MtGOX exchange... and failing.

Day 1 – Wednesday 5 February
After repeated and failed attempts to withdraw my BTC from MtGox, I decided to jump on a plane and pay them a visit in Tokyo.
After a 16 hr. flight from Australia I went straight to their offices, arriving at around 4pm. The receptionist in the lobby told me there was no one available to meet me and I should arrange an appointment.
I refused to leave and after about 15 mins or so, the receptionist handed me the telephone to speak with a member of MtGox support. The support person referred me to their website. After a ‘lively’ conversation I told him I wasn’t gong anywhere, I didn’t travel 16 hrs to read a website I could have read at home. I would wait for Mark Karpeles to come down.
Same thing happened 15 mins later, another call, more non-sense about technical issues, and a suggestion the authorities might have to be called. I told him great, I could lodge an official complaint against MtGox while they were here.
After some hours had passed, the building cleared out and the receptionists left for the night. I was alone in the lobby. Then at approximately 8 pm, I was suddenly greeted by Gonzague Gay-Bouchery, Manager Business Development, and Mark Karpeles right hand man.
I recognized him from some news articles. I thought great, and straight away put some burning questions to him:
Q1. What is causing the withdrawal delays?
• Well, because Gox is the best known of all the exchanges, we have been under the regulatory spotlight.
• This has created problems with government agencies, and also with our banking partners.
• There are also some ongoing investigations, which we cannot talk about.
Q.2 Sure, and this would explain the FIAT delays, but what about the BTC delays; you can’t blame that on anyone else.
• The BTC withdrawal issue is a technical one, and one that has previously affected the MtGox system, our engineers are working hard to resolve the problem.
• As of now, some BTC withdrawals were going through
• For those transactions that remain broken for a week, the balance of BTC will be returned to a customers MtGox account.
Q3. A great way to buy time for a liquidity problem?
• No, it’s a technical issue.
Q4. So why are so many of the input addresses feeding into transactions in the queue coming up empty?
• This is a complex technical issue to which neither of us know the answer
Q5. Try to explain it to me.
• Its technical
Q6. There are over 40,000 BTC in the withdrawal queue, isn’t that the electronic equivalent of a bank run?
• The 40,000 figure is not correct, and the goxreport isn’t accurate.
Q.7 But I actually obtained this data from Delerium’s website who is a gox employee / contractor / associate.
• I will have to look into that.
Q8. Why doesn’t Gox prove they are solvent by transferring a large quantity of BTC between two internal wallets like Mark previously did. Then we can all check it out on the blockchain and be reassured?
• The overwhelming majority of BTC are held in cold storage. Logistically and legally in would be difficult to replicate the transfer “trick” Mark previously employed at Gox to prove their solvency.
Q9. Try me, how hard is it, what exactly is involved?
• Obviously I can’t go into too much detail for security reasons, but it would involve physically obtaining them from 6 or more locations.
Q10. Well, why don’t u do it, isn’t this a critical situation?
• It’s not that straight foreword.
Q11. You do realize no-one believes the technical excuses for the delay in BTC?
• Mt Gox has the coins, it is a technical issue and we need people to be patient.
Q12. What is you view on the poll recently published by Coindesk on Mt Gox?
• Coindesk have a vendetta against MtGox.
Q13. But they one of the most trusted sources of news in the Bitcoin community.
• Some people have it out for Mt Gox.
Q14. How do you explain the vastly different prices that appear on Gox compared with other exchanges? It recently went to 25%.
• Some traders were responsible for the manufacturing the differential in an attempt to financially benefit from arbitrage.
Q15. But people exploiting the arbitrage opportunity would actually reduce the price differential, not widen it.
[I can’t recall receiving a response to this particular point]
Q16. Is MtGox manipulating the price by directly purchasing Bitcoins on their own exchange?
• No, MtGox is not permitted to do this.
[coincidently, almost immediately after this meeting the price on MtGox tanked]
Q17. People have a lot of money tied up in your exchange, and they don’t believe your excuses. All the evidence suggests something more serious going on at gox. You are playing with people’s lives here.
• All the coins are safe; this is merely a technical issue.
When I left the office that night, I wanted to believe that everything was indeed fine, and these were indeed some temporary technical glitches, but this view was somewhat influenced by the fact I still have BTC on their exchange. All the evidence appears to suggest something more serious.
For the record, I gave Gonzague an advance copy of this transcript and offered him the opportunity to have any of his answers amended if he felt I misrepresented him in any way. A member of his support team replied by stating he did not have any comment on my version of the conversation.
Day 2 – Thursday 6 February 2014
I arrived at MtGox early, approximately 8am, and stood outside with a sign reading “MtGox, where has my money gone”. I got some curious looks, and a lot of questions from passersby about my protest.
Then at approximately 9.20 am, Mark Karpeles himself came along carrying a large, and very fancy coffee in his hand that could have passed as a dessert. I immediately confronted him and told him we needed a chat. So he stopped to hear me out.
I told him he was playing with people’s lives, and some people stood to lose their entire savings. Like Gonzague told me the night before, he mentioned technical issues, and that he would look into my case.
Then 20mins later at around 9.40am Gonzague arrived. “Good news” he said, we have sorted out your account, go and check it online. After I got Wi-Fi connection back the hotel I discovered my failed BTC withdrawal transactions had been cancelled and all my BTC were put back in the one place in the world I didn’t want them: The MtGox website. Back to joining the queue of 40,000 other BTCs.
I think this was some sort of ironic joke. I quickly tried to withdraw them again; but surprise, surprise, stuck again.
By late evening, the majority of the other workers in the MtGox building had heard of my protest and were bringing me out sandwiches and beer, and inviting me to lunch. As it turns out, Japan is probably one of the better countries in the world to protest. Everyone is so friendly; I can see why the Goxies choose to set up shop here.
As the evening drew on, it looked like I would have do a late one to catch Mark again on the way out. However, at around 7.30pm, I was approached by a law professor from a local university who has written widely on bitcoin legal issues. He was on his way to a bitcoin “meet-up” and asked me to come along to tell my story to the other bitcoin enthusiasts. I was reluctant to leave the protest but was interested in what other Tokyo resident’s thought of MtGox.
When I arrived, everyone was very interested in hearing my story. There was a general consensus amongst the participants that MtGox was finished as an exchange. They acknowledged that MtGox had played an important role in propelling Bitcoin to what it is today, but its decline and ultimate closure was inevitable.
However, there was some divergent views on the reason for this, most people, including myself are of the view that bad business decisions and incompetence were primarily to blame, while others held the view that government restriction, and secret investigations were hampering MtGox’s ability to function efficiently. Who knows what the truth is, maybe it is a bit of both.
At the end of the day 2, there was a very worrying development, the data feed for the goxreport, and delerium’s MtGox transaction failure website were cut. Perhaps a final act of MtGox’s desperation to hide the truth.
Day 3 – Friday 7 February
I started my protest a little later today in the knowledge that most of the Goxies don’t start work until after 9am. Then there was an unexpected twist; another person showed up looking for Mark. He was an emissary of an early adopter and well known member of the bitcoin community, and was there to collect an eye watering amount of money.
My emotions were mixed on seeing this person; on one hand I was glad to see another protester to fight the good cause. On the other hand, my heart sank in the knowledge that if Mark isn’t paying off his old friends in the bitcoin community then what chance do small fry like me have?
As the emissary and I chatted, Mark Karpeles arrived, and we both confronted him, the conversation went on for some time and most of it conducted in French which I had trouble understanding. However I did mange to record the whole thing on video.
The episode only came to a halt when Gonzague appeared in the lobby and rescued Mark. Very soon after this point, MtGox released a statement announcing that all BTC withdrawals were suspended.
In conclusion, I think i just witnessed MtGox die today. I didn’t get my bitcoin, but glad I came and tried.
submitted by kkodaxeroo to Bitcoin [link] [comments]

Proof MtGox control 180,000BTC, not the declared 2000BTC

MtGox Withdrawal API has been seen processing about 160,000BTC in withdrawals over the last 24 hours (as also graphed by http://www.coinsight.org/mtgox.html)
THIS IS PROOF MTGOX CONTROL THE 180,000BTC ADDRESS
Here is one of the transactions published from the API https://blockchain.info/ntxid/95c47346349918f29b0d1b9415de627cde66dd9fe93342c5f329adfbdc6c17cb in the MtGox API withdrawal feed (https://data.mtgox.com/api/0/bitcoin_tx.php) links back to the transaction of 180,000BTC that was seen moving yesterday:
https://blockchain.info/tx/1dda0f8827518ce4d1d824bf7600f75ec7e199774a090a947c58a65ab63552e3
And you can see it visualized in the tree view: https://blockchain.info/tree/114688199
Copy of the API dump: https://mega.co.nz/#!tE90Sb7A!F3V0JvhNWIan5XiFboVM9Ha1KUG1Ofu6aPm-2dlgPmQ
If you want to see for yourself, view the TX https://blockchain.info/ntxid/95c47346349918f29b0d1b9415de627cde66dd9fe93342c5f329adfbdc6c17cb and click on the bottom address of each transaction, repeat all the way back to the 180,000BTC TX. It's about 10 steps.
submitted by tharlam to Bitcoin [link] [comments]

I just launched a new exchange for Gox BTC <=> Real BTC!

Heya!
https://www.bitcoinbuilder.com/ has been re-purposed (I made it two years ago originally as a way to buy bitcoins on mtgox with dwolla!) to a full-fledged "Gox" BTC to "Real" BTC exchange!
It works simply enough.. you deposit "Gox" BTC to the "Gox" address on your account (internal transfers of BTC within mtgox still work) and/or regular BTC to your "Real" BTC address. You can then place bids and asks (there's a 2% fee on all trades) and then withdraw your "Real" or "Gox" BTC (only to a mtgox address will work for "Gox" BTC!). Withdrawals are all manually processed once per day by me around 11pm, for SAFETY!
Anyway, it really works.. already today there have been 11 completed trades it looks like, and hopefully you can trust me. I'm Josh Jones, founder of DreamHost.com, the Los Angeles Bitcoin Meetup, ChunkHost, BitMadness.com, and 310-570-COIN (which I just switched off of the mtgox price)!
Please check it out and lemme know what you think!
josh!
EDIT: Just a note that the order book and trade history (as a json feed at https://www.bitcoinbuilder.com/trades.php) are now live and public on the front page!
submitted by zhoujianfu to Bitcoin [link] [comments]

BREAKING: I traced a withdrawal processed by MtGox to the 180,000BTC wallet

MtGox Withdrawal API has been seen processing about 160,000BTC in withdrawals over the last 24 hours (as also graphed by http://www.coinsight.org/mtgox.html)
THIS IS PROOF MTGOX CONTROL THE 180,000BTC ADDRESS
Here is one of the transactions published from the API https://blockchain.info/ntxid/95c47346349918f29b0d1b9415de627cde66dd9fe93342c5f329adfbdc6c17cb in the MtGox API withdrawal feed (https://data.mtgox.com/api/0/bitcoin_tx.php) links back to the transaction of 180,000BTC that was seen moving yesterday:
https://blockchain.info/tx/1dda0f8827518ce4d1d824bf7600f75ec7e199774a090a947c58a65ab63552e3
And you can see it visualized in the tree view: https://blockchain.info/tree/114688199
Copy of the API dump: https://mega.co.nz/#!tE90Sb7A!F3V0JvhNWIan5XiFboVM9Ha1KUG1Ofu6aPm-2dlgPmQ
EDIT: If you want to see for yourself, view the TX https://blockchain.info/ntxid/95c47346349918f29b0d1b9415de627cde66dd9fe93342c5f329adfbdc6c17cb and click on the bottom address of each transaction, repeat all the way back to the 180,000BTC TX. It's about 10 steps.
submitted by tharlam to Bitcoin [link] [comments]

BLOCKCHAIN ANALYSIS REQUIRED

MtGox Withdrawal API has been seen processing about 160,000BTC in withdrawals over the last 24 hours (as also graphed by http://www.coinsight.org/mtgox.html)
THIS IS PROOF MTGOX CONTROL THE 180,000BTC ADDRESS
Here is one of the transactions published from the API https://blockchain.info/ntxid/95c47346349918f29b0d1b9415de627cde66dd9fe93342c5f329adfbdc6c17cb in the MtGox API withdrawal feed (https://data.mtgox.com/api/0/bitcoin_tx.php) links back to the transaction of 180,000BTC that was seen moving yesterday:
https://blockchain.info/tx/1dda0f8827518ce4d1d824bf7600f75ec7e199774a090a947c58a65ab63552e3
And you can see it visualized in the tree view: https://blockchain.info/tree/114688199
Copy of the API dump: https://mega.co.nz/#!tE90Sb7A!F3V0JvhNWIan5XiFboVM9Ha1KUG1Ofu6aPm-2dlgPmQ
submitted by tharlam to Bitcoin [link] [comments]

The CEO of MT.Gox, on of the largest Bitcoin exchanges, resigns from Bitcoin foundation. Tune it to see whether this is good news or not.

Ok, IT'S ACTUALLY GOOD NEWS.
To provide a little background, anyone following Bitcoin has probably heard about the problems Mt.Gox has been having with their site. Several days ago they halted all transactions. Apparently there is a problem with their code, but Mt.Gox has blamed problems in the Bitcoin protocol. This has led to some pretty hilarious protests.
Last night it was announced that the CEO of Mt.Gox is resigning from the Bitcoin foundation. Many suspect this is going to precede some bad news about Mt.Gox. It's 8:30am EST so that news might be coming soon.
Anyway, let's see what Reddit's reaction to this is:
This is actually good news. I applaud Mark and the MtGox team for making the right decision as I had to do the same. Speaking very lengthy to Mark and the team over the weekend, I see good news on the horizon for people who have funds stuck in MtGox (I also have funds in MtGox stuck) - Charlie +161
Last night I saw this thread and I left it open to maybe write a CB post this morning. At the time, several of the top posts were people saying "this is actually good news!" sarcastically. I was wondering if /bitcoin was becoming a little self aware! Well, I guess not, the 2nd top post is a genuine "this is actually good news" post.
What's also notable is that this post is from Charlie Shrem, who was recently arrested for being involved with Silk Road. He's also the "bitcoin gonna topple gubmits revolution is coming" types.
This is actually good news +61
In all seriousness, it is ... Remember: Bitcoin is a honey badger. This will not kill Bitcoin, it will make it stronger. The demise of poorly run institutions such as Gox will have a negative short term effect upon the economy, but such Darwinism will be good for us in the long term. +30
There's the sarcastic post I was talking about. What's notable is that the top reply to it is serious.
Once again, who had the bad news before the rest of us? Who knew to dump? +28
Inside trader worries are floating around. It's fun to watch Bitcoin invent financial regulation piece by piece, as they discover what each piece is for.
Thanks to everyone who signed the petition. Really pleased with the result today.
WE DID IT REDDIT!
The drama from this is spilling into different posts. Here's one about them deleting their tweets
How will MtGox removing a few thousand "Dear Customer blah blah" tweets in any way whatsoever help their legal defence?
...Someone in that cluster fck of a company said to underlings "SHRED IT, SHRED IT ALL!!! AND DELETE ALL THOSE FCKING TWEETS!" Or something like that, we don't know. We do know, however, that the tweets are gone. And I can think of very very few legit reasons to issue that order. So yeah, it raises some eyebrows. It's not sensationalism, it's deductive reasoning. It might be wrong, but you can bet there is some reason we are not aware of that they did this.
le genius redditor using le deductive reasoning :o)
I wonder if he considered that deleting tweets as an effort to get rid of evidence would be laughable, since it's pretty certain that twitter retains a copy that could be subpoenaed. Or, you know, since it's been publicly displayed it has certainly been archived elsewhere. And that plenty of users probably retweeted them...
Makes me think that they deleted the tweets to make it more difficult for anybody to mount a legal case against them when this shit hits the fan. By removing the public tweets, the only way to get them is by a court ordered request to twitter which takes time and resources. Time that Gox can use to build a defence or flee. This move was probably done on advice from a lawyer.
Bad law is all over this thread
They're absolute masters at market manipulation, just see the mad panic sells and buys every time Gox farts.
This is actually just an epic ruse to manipulate the market even further!
It'll be ok... unless you are so overexposed that short term price shocks can hurt you. (or if you had all your coins in MtGox... which is really silly). I feel like a war-torn veteran.
Since bitcoin is going to the moon in the longterm, this doesn't really matter.
Has anybody saved their tweets and public statements?
nsa did.
yawn
The is the WSJ article from the first post that was pirated
WSJ: TAKE BITCOIN ON YOUR PAYWALL!
Just google the first few lines - the resulting link has no paywall. [Gilded]
Guess it cool to steal WSJ articles because they don't take magic internet money.
This is good news. Less duty in the foundation allows for focusing on Mt.Gox - like Roger Ver said.
:)))
This is actually bad news. MTGox withdrawing from the bitcoin community? -11
How is this bad news? All they have done is shit on the Bitcoin protocol for weeks, and I can't think of any good they have done. +6
LOL, Jesus Christ /bitcoin. Anyone that thinks a piece of bad news is actually bad news gets downvoted into the fucking dirt. POSITIVE INTERPRETATIONS OF BITCOIN NEWS ONLY!
That's about it for now. Some big Mt.Gox news is sure to break soon. It's going to be catastrophic, so GOOD NEWS!
submitted by ONE_GUY_ONE_JAR to circlebroke [link] [comments]

BTC Trader Withdraw and Redeem Codes Withdraw Bitcoins from Blockchain to Your Bank Account Apple Bans Bitcoin - Mt. Gox Withdrawal Issues - R.I.P ... Withdraw Bitcoins from Blockchain to Bank Account Instantly Roger Ver on MTGOX Bankruptcy and Bitcoin

Since June 2013, the bitcoin exchange Mt. Gox has been struck by severe problems with fiat currency withdrawals. According to their press release of June 20th, cash withdrawals would be suspended for 2 weeks. On July 4th, a press release stated that withdrawals had fully resumed. Despite this positive tone, it was shortly noted by the user community that few withdrawals seemed to be occurring ... The largest Bitcoin exchange, MtGox, has announced that they are resuming USD withdrawals around the world, putting an end to two weeks of hiatus.A long backlog of withdrawal requests had been accumulated over the period, so it will take over a month before processing times finally return to normal, but MtGox expects that the main disruptions are now over. Mt. Gox, called "Mount Gox" or simply "Gox", was the most widely used bitcoin currency exchange market from shortly after its inception in 2010 to its insolvency late 2013. The market was closed February 25, 2014 and has since filed for bankruptcy protection in Japan and the United States, after losing 640 thousand bitcoins. r/Bitcoin: A community dedicated to Bitcoin, the currency of the Internet. Bitcoin is a distributed, worldwide, decentralized digital money … Press J to jump to the feed. Press question mark to learn the rest of the keyboard shortcuts. r/Bitcoin. log in sign up. User account menu. 15. MTGox Withdrawal Status? Close. 15. Posted by. u/r2pleasent. 6 years ago. Archived. MTGox Withdrawal Status ... What is known is that Karpeles’ resignation resulted from MtGox's extended withdrawal issues. On Feb. 7, MtGox suspended bitcoin and fiat withdrawals on its exchange, citing transaction ...

[index] [31532] [30022] [8499] [41835] [17259] [41024] [41506] [33784] [15723] [41566]

BTC Trader Withdraw and Redeem Codes

Exkash.com is an instant to withdraw Bitcoins from Blockchain, mtgox, bitstamp, Coinbase and BTC-e to Bank Account, Send Bitcoin and Get cash in your Bank Account worldwide, Bitcoin To Bank. Transcript: Hello, I'm Roger Ver, long time Bitcoin proponent. About 7 months ago, purely as a favor to Mtgox, I made a video stating that their fiat withdrawal problems were not being caused by a ... February 6, 2014 -- Valley of the Kings, Egypt -- MadBitcoins: Be really refreshed. -- MadBitcoins Subscriber Index 2424. The energy based lifeforms have uni... Who Will EXPLOIT The Looming BITCOIN CRASH as MT. GOX Stops All Withdrawals A temporary halt on withdrawals from the bitcoin exchange Mt. Gox on Friday and s... Feb. 10 (Bloomberg) -- Matt Miller reports on Bitcoin exchange Mt. Gox's cash withdrawal woes on Bloomberg Television's "In The Loop." (Source: Bloomberg)

#