MTGOX is finally dead

[Wellness Cash]

Mark Karpeles, CEO of the pioneering but troubled Bitcoin exchange MtGox, has resigned his seat on the board of the Bitcoin Foundation, the organization that standardizes and promotes the cryptocurrency.

While some are calling this a potential blow to Bitcoin, it may be quite the opposite. MtGox is hardly a great ambassador for Bitcoin right now, and recent events have led to clashes between the company and the Foundation.

http://gigaom.com/2014/02/24/mtgox-l...ndation-board/

[NEW XTC]

While I do hope Gox dies...for the long term good of BTC - your thread title is BS

[Wellness Cash]

Why is it BS? They've been kicked out of the foundation (read as forced to resign their seat) that isn't good for them it will send ripples through the BTC community, prices will drop for a while and they'll finally die the death they have been trying so hard to avoid.

They need to go back to playing with trading cards and let the serious business people work with BTC.

[NEW XTC]

Originally Posted by Wellness Cash

Why is it BS? They've been kicked out of the foundation (read as forced to resign their seat) that isn't good for them it will send ripples through the BTC community, prices will drop for a while and they'll finally die the death they have been trying so hard to avoid.

They need to go back to playing with trading cards and let the serious business people work with BTC.

Ive been staying on top of all the Gox news and rumors by the hour, its very unclear if they will fold...they might, but they certainly have a good shot at pulling through....seems most experts think they will survive.. its mostly mud slingers saying they will fail.

Personally I'm rooting for total implosion.

[KillerK]

Originally Posted by Wellness Cash

Why is it BS? They've been kicked out of the foundation (read as forced to resign their seat) that isn't good for them it will send ripples through the BTC community, prices will drop for a while and they'll finally die the death they have been trying so hard to avoid.

They need to go back to playing with trading cards and let the serious business people work with BTC.

IDIOT!!

Dead is when they are actually dead. What you've posted it that they are likely to be.

[NEW XTC]

if bored jump to 1:50

must have been a great feeling to personally confront that piece of shit

[seeandsee]

so who fucked people at mtgox?

[Wellness Cash]

Originally Posted by seeandsee

so who fucked people at mtgox?

They fucked themselves period.

[DamianJ]

Originally Posted by Wellness Cash

Why is it BS? that isn't good for them it will send ripples through the BTC community, prices will drop for a while and they'll finally die the death they have been trying so hard to avoid.

So, the title is BS, because you said MTGOX is dead, when it isn't dead.

HTH.

[Wellness Cash]

Originally Posted by KillerK

IDIOT!!

Dead is when they are actually dead. What you've posted it that they are likely to be.

No.

MTG has been dead for a while, only surviving this long due to their constant barrage of BS press releases and updates saying how they are going to be adding new currencies to their service, fix technical issues and 'make good' on withdrawals, the *only* people who are enabling them to have stuck it out this long are those who are either too stupid or too blind to see the inevitable.

The second they halted the withdrawal process last year for fiat currency we moved all of our BTC to an alternative service, the writing has been on the wall for a long time, the sooner the idiots still using them realize this and migrate from their shitty service the better for them, us and the BTC community as a whole.

All they had to do was take some of the commissions they earned with every transaction and do some programming work, they didn't, they let their customers get fucked over left and right, they pushed things back as long as possible and in the process they have constantly manipulated the price of BTC across the market resulting in a currently unstable currency which has affected thousands, if not millions of investors and holders of BTC.

They are dead, they have been for about a year now but people keep believing their continuous lines of 'we're working on it' to the point where they have start believing their own lies.

Keep beating that carcass, I'm sure there is some more meat left on the bones somewhere.

[Captain Kawaii]

Who wants to bet Karpeles disappears or has an "accident."

[NEW XTC]

Originally Posted by Wellness Cash

No.

MTG has been dead for a while, only surviving this long due to their constant barrage of BS press releases and updates saying how they are going to be adding new currencies to their service, fix technical issues and 'make good' on withdrawals, the *only* people who are enabling them to have stuck it out this long are those who are either too stupid or too blind to see the inevitable.

The second they halted the withdrawal process last year for fiat currency we moved all of our BTC to an alternative service, the writing has been on the wall for a long time, the sooner the idiots still using them realize this and migrate from their shitty service the better for them, us and the BTC community as a whole.

All they had to do was take some of the commissions they earned with every transaction and do some programming work, they didn't, they let their customers get fucked over left and right, they pushed things back as long as possible and in the process they have constantly manipulated the price of BTC across the market resulting in a currently unstable currency which has affected thousands, if not millions of investors and holders of BTC.

They are dead, they have been for about a year now but people keep believing their continuous lines of 'we're working on it' to the point where they have start believing their own lies.

Keep beating that carcass, I'm sure there is some more meat left on the bones somewhere.

Lets hope you're right and they die, soon...however I'm reading from experts with opinions far more informed than yours that they actually quite alive...for now.

And your statement: "the sooner the idiots still using them realize this and migrate from their shitty service the better for them" makes me think you really don't know what the fuck is going on at all. No one has that option..to "migrate" if you don't realize this then you have been hiding in a cave.

[edgeprod]

They got quite the spanking from the board for blaming their own coding deficiencies on the BTC protocol itself. They deleted their entire Twitter feed recently, as well, removing those stupid statements.

Our own brain-dead crew here even posted about "bitcoin bugs" and such nonsense. The media ate it up.

Fuck Mtgox, they can go back to trading cards.

[slapass]

They have really f'ed up the golden goose in that they were first to be big and profitable.

[CaptainHowdy]

About time ...

[CAHEK]

McDonald's is hiring right now

[Wellness Cash]

Originally Posted by NEW XTC

No one has that option..to "migrate" if you don't realize this then you have been hiding in a cave.

Yes, they did.

Before they locked down all withdrawals.

Anyone with even an ounce of common sense would have seen the writing on the wall when they locked fiat withdrawals last year, we did and we migrated to a different service.

It is small (or not so small in this case) warnings like that which serious people use to mitigate their potential losses, the fact that a lot of people didn't pay attention and left their BTC and fiat funds in their MTGOX accounts when the warning flags were being raised is nobody's fault but their own, at that stage you cant even blame MTG for their users stupidity in remaining with their service.

You can still migrate your BTC funds now, just it is harder to do, but for whatever reason people still have 'faith' in MTG recovering, for whatever reason.

[_Richard_]

Originally Posted by NEW XTC

Lets hope you're right and they die, soon...however I'm reading from experts with opinions far more informed than yours that they actually quite alive...for now.

And your statement: "the sooner the idiots still using them realize this and migrate from their shitty service the better for them" makes me think you really don't know what the fuck is going on at all. No one has that option..to "migrate" if you don't realize this then you have been hiding in a cave.

ahh, so not dead

how surprising, the title says they are.

[NEW XTC]

Originally Posted by Wellness Cash

Yes, they did.

Before they locked down all withdrawals.

Anyone with even an ounce of common sense would have seen the writing on the wall when they locked fiat withdrawals last year, we did and we migrated to a different service.

It is small (or not so small in this case) warnings like that which serious people use to mitigate their potential losses, the fact that a lot of people didn't pay attention and left their BTC and fiat funds in their MTGOX accounts when the warning flags were being raised is nobody's fault but their own, at that stage you cant even blame MTG for their users stupidity in remaining with their service.

You can still migrate your BTC funds now, just it is harder to do, but for whatever reason people still have 'faith' in MTG recovering, for whatever reason.

glad to see you did some quick googling and got caught up with current events...

and you can stop doubling down on your idiotic statements of calling others idiots - and no you cant migrate shit out of gox without taking about a 60 percent loss on your coins -and there are more sellers than buyers so it's in NO WAY a "migration"

[_Richard_]

Originally Posted by NEW XTC

glad to see you did some quick googling and got caught up with current events...

at least we know for next time

[michael.kickass]

Originally Posted by CAHEK

McDonald's is hiring right now

[pornmasta]

mtgox got kicked ? you mean that a central bank regulates the bitcoin ?

[Wellness Cash]

Originally Posted by NEW XTC

glad to see you did some quick googling and got caught up with current events...

and you can stop doubling down on your idiotic statements of calling others idiots - and no you cant migrate shit out of gox without taking about a 60 percent loss on your coins -and there are more sellers than buyers so it's in NO WAY a "migration"

I didn't Google shit.

Its all YOU have been talking about on GFY the last week

As for losing 60%... Would people rather lose 60% or 100%?

Do the math and make an informed financial decision, if you think the risk is worth it, so be it.

[edgeprod]

Originally Posted by NEW XTC

glad to see you did some quick googling and got caught up with current events...

and you can stop doubling down on your idiotic statements of calling others idiots - and no you cant migrate shit out of gox without taking about a 60 percent loss on your coins -and there are more sellers than buyers so it's in NO WAY a "migration"

Just playing devil's advocate here, but by your logic, ePassporte is still alive and kicking .. you just can't withdraw from it.

[EpicPanda]

Originally Posted by NEW XTC

While I do hope Gox dies...for the long term good of BTC - your thread title is BS

Agreed.

So sick of this thread title when it isn't true.

[NEW XTC]

Originally Posted by edgeprod

Just playing devil's advocate here, but by your logic, ePassporte is still alive and kicking .. you just can't withdraw from it.

There is apparently a very good chance they will recover and be back in biz... so your comment doesn't add up. And I'm only going by what the experts are saying.

Don't get me wrong I'm not rooting for Mtgox here - there is great arbitrage opps here, thus my interest..regardless if they live or die...but saying they are dead is premature.

[Aidoru]

Did everyone get their monies out?

[edgeprod]

Originally Posted by NEW XTC

There is apparently a very good chance they will recover and be back in biz...

A very good chance? Their twitter account is now blank, and they've been dismissed from their board seat.

[Wellness Cash]

Originally Posted by edgeprod

A very good chance? Their twitter account is now blank, and they've been dismissed from their board seat.

Don't let facts get in the way of being in denial of the truth

[edgeprod]

Originally Posted by Wellness Cash

Don't let facts get in the way of being in denial of the truth

Oh, right. Almost forgot what I was doing.

[mineistaken]

Originally Posted by NEW XTC

Respect for taking action

ps: tshirts + snow

[Marcus Aurelius]

so how much money did GFY retards lose on bitcoins so far?

[edgeprod]

Originally Posted by Marcus Aurelius

so how much money did GFY retards lose on bitcoins so far?

Most of the ones who invested, I'd venture. GFY usually makes fun of something that is profitable until it isn't anymore, then everyone jumps onboard and beats a dead horse hoping pennies will fall out.

The funniest part is that most of the people who lost money will now take their money OUT of crypto, and complain when it rises again.

[NEW XTC]

Originally Posted by Wellness Cash

As for losing 60%... Would people rather lose 60% or 100%?

Congrats you went from just saying inflammatory things that aren't true to saying totally full of shit things that aren't true.

By what mechanism do you think people will lose 100 percent of their money? The only way that could happen is if the Gox staff somehow wired all the fiat and transferred all the coin into personal accounts and split the country with 10's of millions of dollars and became international fugitives. So that's your prediction?

Even if they become insolvent they will be on the hook to release every cent of the cash and coin they are holding on behalf of clients - yes its possible they are light and some people will get fucked...but calling people idiots for not jumping at the chance to dump their holdings for far below market (now 0.25ish) is just being a dick.

Also check bitcoinbuilder now - WAY more sellers than buyers - so the vast majority are NOT getting shit out right now. So cool bro, pat yourself on the back for getting out while you could...you're such a smarty that you could see it coming - why wasn't everyone able to predict the future like you Mr. Genius - you wanted everyone to know what a bitchin dude you are...take a bow.

[NEW XTC]

Originally Posted by edgeprod

A very good chance? Their twitter account is now blank, and they've been dismissed from their board seat.

I'm not a reactionary dumbfuck so I don't claim to know the future, I have no idea if they will survive...I hope they die quickly...however a twitter means a total of fuckall - and you certainly don't need a board seat to operate an exchange.

Let's see...hmm right at this moment there is a dude on bitcoinbuilder looking to trade 100BTC (approx $53,000 USD) into Gox coin - you think that this pro trader might know something you may not? All those people trading real coin for gox are just throwing their $ into a sewer hole? I doubt it.

Millions are being thrown at gox coin daily by very smart and very savvy players - yes they are taking on risk but yes I would have to stand by my statement that there is a VERY good chance they know what they are doing and Gox will either survive or at least release funds and coin held.

[slapass]

Someone has his life savings in Mt Gox. Sorry to hear that guy.

[ruff]

Originally Posted by NEW XTC

There is apparently a very good chance they will recover and be back in biz... so your comment doesn't add up. And I'm only going by what the experts are saying.

Don't get me wrong I'm not rooting for Mtgox here - there is great arbitrage opps here, thus my interest..regardless if they live or die...but saying they are dead is premature.

Credibility is everything in cryptocurrency. MtGox will never recover their credibility and for all practical purposes, are dead now. Shit happens. Unless you have coin there, why would anyone care? It is not going to affect Bitcoin at all, except giving people an excellent buy opportunity right now.

[CoinBet]

As much as I hate to admit it, I don't think MtGox will die. One good move and PR push they will recover. I want them to die, and wish they would die, but ultimately, they could respond to all of this positively, process all payouts, and be just fine...

They are the epassporte of bitcoins.. ;)

[adultmobile]

By the way there is big buzz today about mindgeek's playboy accepting bitcoin (via bitpay), citing also pornhub's high alexa rank:

http://www.coindesk.com/playboy-plus...coin-payments/

Comment from user: "The adult industry usually embraces new technology and helps erect it faster than any other industry could so we'll see what kind of effect this has on bitcoin."

Unsure if term erect is a joke. But I think some GFY guy should post comments there too

[edgeprod]

Originally Posted by NEW XTC

Let's see...hmm right at this moment there is a dude on bitcoinbuilder looking to trade 100BTC (approx $53,000 USD) into Gox coin - you think that this pro trader might know something you may not? All those people trading real coin for gox are just throwing their $ into a sewer hole? I doubt it.

Speculators, doing the same thing many of us did: putting money into Mtgox in case we can get some very undervalued BTC out. Saying it's some sort of wizardly financial move is a stretch -- we're speculating at best. I'm comfortable taking a complete loss, if it comes to that.

Shit-tons of money transact on the roulette wheels every day, too .. they don't have some secret knowledge the rest of us don't.

My conflict with what you're saying is that so few people here know much of anything about crypto currency, when you position this company as anything other than the Titanic after hitting an iceberg, you're likely to influence some loony-toon to put money they don't have to lose into an unsound investment. Maybe it works out, maybe it doesn't, but trading on another exchange gets you real coins that you can work with now ... with entirely the same upside picture if BTC does half of what many expect it to.

[420]

If you're considering gambling on goxcoins, the time is near. They're down to .10 each on bitcoinbuilder.

Obviously, don't spend more than you can afford to lose. http://www.coindesk.com/japan-regula...tion-unlikely/

[NEW XTC]

Originally Posted by edgeprod

Speculators, doing the same thing many of us did: putting money into Mtgox in case we can get some very undervalued BTC out. Saying it's some sort of wizardly financial move is a stretch -- we're speculating at best. I'm comfortable taking a complete loss, if it comes to that.

Shit-tons of money transact on the roulette wheels every day, too .. they don't have some secret knowledge the rest of us don't.

My conflict with what you're saying is that so few people here know much of anything about crypto currency, when you position this company as anything other than the Titanic after hitting an iceberg, you're likely to influence some loony-toon to put money they don't have to lose into an unsound investment. Maybe it works out, maybe it doesn't, but trading on another exchange gets you real coins that you can work with now ... with entirely the same upside picture if BTC does half of what many expect it to.

haha wizardly...nice. Can't argue with anything you said, and in all likelihood Gox is the Titanic - but they can't just take the money and run after the ship goes down, we can see they have the lifeboats.

My argument here certainly is not that throwing money at Gox is a good investment - just that this issue is not black and white that they are DEAD as the OP suggests..lot's of grey area still.

[420]

.075 now

I'm in. Hopefully the site comes back up

[NEW XTC]

Originally Posted by 420

.075 now

I'm in. Hopefully the site comes back up

HOLE E shit - this is getting crazy - Gox holders and running scared now.

GOX DOWN!!!


Yessssss

get ready boys

[Wellness Cash]

So yes... It's dead.

[420]

Wonder why they've recently acquired http://gox.com.

Cache shows it was for sale on Feb. 18. http://webcache.googleusercontent.co...://www.gox.com

[Theo]

their site is blank, twitter posts removed... If bitcoin prices holds relatively strong after this it will be a sign of its strength.

[NEW XTC]

Looks like their plan is to re-launch as Gox.com soon - I hope they just kick the bucket...

This could soon be the sub 200 buy we've been waiting for though...fingers crossed

http://www.neowin.net/news/leaked-do...exchange-mtgox

[edgeprod]

Originally Posted by NEW XTC

haha wizardly...nice. Can't argue with anything you said, and in all likelihood Gox is the Titanic - but they can't just take the money and run after the ship goes down, we can see they have the lifeboats.

My argument here certainly is not that throwing money at Gox is a good investment - just that this issue is not black and white that they are DEAD as the OP suggests..lot's of grey area still.

I can buy that, but the grey is being chased away by black every minute that passes. I rolled the dice on 35 coins when they hit $150, but I planned to lose it, like at a casino.

[NEW XTC]

Originally Posted by edgeprod

I can buy that, but the grey is being chased away by black every minute that passes. I rolled the dice on 35 coins when they hit $150, but I planned to lose it, like at a casino.

Will be interesting to see where that goes - keep us informed, good luck with that play. I hope the dice roll your way.