Trading has been halted..... :eek: http://www.scribd.com/doc/209050732/MtGox-Situation-Crisis-Strategy-Draft "Here's a document that many are dismissing as FUD. I personally did too until I started thinking about a few things. The document cites the morning of the 25th to announce a Gox shutdown. Trading is halted, the shutdown is live. If this document is fake, the faker doesn't have the power to shut down trading on Gox which lends credibility to the document. The document also features liabilities that show that Gox has over $160 million in Liability. $55 million in fiat, and over $100 million in BTC. They did a BTC to Fiat conversion so in the court of law, if it came down to it, their liabilities would have to be repaid in fiat. That being said, Gox knew they would be MUCH better off if they had a price for BTC on their exchange at less than $160 per bitcoin, so they did whatever they could to crash their own market to lower their liabilities. They halted trading at $135. They probably could have done more damage to the price, but bitcoinbuilder's arbitrage pressure was pushing the price up to points that they were not happy with. They froze at $135 for a reason. The way the liabilities section of that document is spelled out and the dropping of the goxBTC price, as well as their freeze point lends more credibility to the document as well. A lot of you feel that they are just down to switch to Midas. If this document turns out to be true, 750,000 lost BTC is going to hurt bitcoin really really bad. I'm afraid of what such news will do to the market..." P.S.: This is an analysis from reddit, so its accuracy is still questionable, but some of it at least has to be true. Time will tell how much... It seems incredible that someone could have stolen 750K coins without them noticing sooner. I could believe like under 100K, but even that is unbelievable stupidity and bad accounting.
geez, stop with the "I can't believe what happened" . It has n't crossed your mind that may be this disaster was planned. The original bitcoin insiders sold their stake to the dummies among dummies at $1000 and change, now they are disappearing as the scheme collapses. Bitcoin buyers are getting just what they deserve.
Oh I can believe in incompetency and stupidity and greed. I just can't believe the size of it. I bet you the real number is going to be much less than 750K missing coins. And although temporarily all bitcoin holders are effected by the price dip, only the real greedy and stupid ones lost money at Gox, the writing was on the wall since December, if not earlier... It is alright to play a penny stock as long as you are aware of the risk....
Interview with the vamp... I mean Karpzilla: http://pastebin.com/Vctqcv7U He kind of acknowledges that the leaked document posted earlier is correct.... JonWickedFire: Is that Crisis Strategy Draft even legit? MagicalTux : more or less
Hum, bitcoin started by a "mysterious unknown Japanese programmer"; huge exchange comes to be in Japan; the guy behind it dissapears w/ the cash leaving the "clients/investors" out on a limb. Seriously do we have to spell it out Yeah, IMO this event has a pretty good shot at taking down the whole house of cards.
By the way, did you notice that our "friend" Peilthetraveler (slash Bitcoin "representative") is not peddling the "safety" of Bitcoin (aka bullshit currency) anymore, in this forum ? Now imagine if a major US or European bank says "Sorry, we are down, we cannot give you your money right now, we have to "investigate" first. How would you react? Seriously.