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Cybernetic Vermin posted:well, "cleaned out" in the sense that they are insolvent, since as an exchange the value they handle is orders of magnitude greater than the value of the company itself, so even a minor break no doubt quickly screwed them over even without a single btc stolen or embezzled, they've lost millions in real USD to govt seizure and lawsuits (and you know there's no loving way they didn't lose any btc to theft or embezzlement. )
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Feb 10, 2014 17:56
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Cybernetic Vermin posted:yeah, this thread is pretty quick to jump to conspiracy theories, but this is sounding extremely likely only reason we jump so quickly to conspiracy theories is that buttcoiners have consistently proven that they are the worst kind of people again and again
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Feb 10, 2014 17:57
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conspiracy theory would be that the gox anouncement was meant to crash the price so they could rebuy the bitcoins they need (which is being stated on r/bitcoin because lol) that they got screwed over by spoofed transaction IDs is pretty clear at this point. the real question is "how much is gone?", and the massive clusterfuck of their outbound transactions failing due to drawing on empty wallets that the system probably thought had sufficient funds indicates the answer is "a fuckload"
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Feb 10, 2014 18:14
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https://twitter.com/btcecom/status/432888566272634880quote:@btcecom that's probably not good
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Feb 10, 2014 18:23
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http://www.coindesk.com/coindesk-removes-mt-gox-bitcoin-price-index-2/ CoinDesk has removed Mt. Gox from the Bitcoin Price Index today (as of 16:00 GMT), due to its persistent failure to meet the Index’s standards for inclusion. Ultimately, the decision to remove Mt. Gox from the BPI was prompted by Friday’s announcement that bitcoin (BTC) withdrawals had been suspended until Monday, and today’s follow-up announcement that bitcoin withdrawals would now be suspended indefinitely. This was due to a previously known technical issue with Mt. Gox’s custom wallet implementation of the Bitcoin core protocol. However, these recent withdrawal restrictions are just the latest in a series of issues which have made Mt. Gox’s inclusion in the BPI problematic.
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Feb 10, 2014 18:24
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dcseankun posted:http://www.coindesk.com/coindesk-removes-mt-gox-bitcoin-price-index-2/ basically, we kept them on as long as they kept the average up
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Feb 10, 2014 18:25
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my favorite thing is that i am pretty sure that, at this point, the easiest thing for mtgox to do is just steal all the money. any attempt at re-opening will not only harm them, but will actually take more work than simply stealing untold numbers of BTC. also, lol @ that guy who posted, like, last week that "bitcoin's new stability indicates it has matured" (right before it plummeted 25% or more)
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Feb 10, 2014 18:35
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a few choice topics from r/bitcoinmarkets: BTC-E JUST SHAT ITSELF (self.BitcoinMarkets) submitted 6 hours ago by Aziz_92 PSA: BTC-E IS hosed, DO NOT USE MT4, TRAPPED IN SHORT (self.BitcoinMarkets) BTC-e Not processing Withdrawals or Deposits! DO NOT SEND YOUR COINS (self.BitcoinMarkets)
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Feb 10, 2014 18:39
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so a second major bitcoin trading site is completely busted?
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Feb 10, 2014 18:41
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Phoning It In posted:a few choice topics from r/bitcoinmarkets: ron paul, it is occurring, animated electronic image
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Feb 10, 2014 18:41
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a plane has hit the second exchange.
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Feb 10, 2014 18:44
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efbHappy Noodle Boy posted:a plane has hit the second exchange.
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Feb 10, 2014 18:46
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screenshotted for posterity
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Feb 10, 2014 18:50
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nope i'm dumb, he runs the other eastern european exchange that allows short selling
Cease to Hope fucked around with this message at 18:56 on Feb 10, 2014 |
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Feb 10, 2014 18:54
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Happy Noodle Boy posted:a plane has hit the second exchange. Bitcoinistan, Osama Butt Laff
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Feb 10, 2014 18:55
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i'm so close
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Feb 10, 2014 18:56
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Happy Noodle Boy posted:a plane has hit the second exchange.
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Feb 10, 2014 19:03
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ArchWizard posted:As a thai-american I'm kind of annoyed that buttcoiners think a politically dysfunctional regime plagued by robbers, violence and child prostitution is more deserving of the baht symbol than a kingdom that's been around for hundreds of years
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Feb 10, 2014 19:06
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so, in summary, a critical flaw in the algorithm/protocol and bitcoiners are claiming that there is no flaw, it's just that the magic gathering exchange didn't implement the known workaround (which isn't a workaround because there's no flawwwrggrggghjplbthhtb)
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Feb 10, 2014 19:12
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Shifty Pony posted:conspiracy theory would be that the gox anouncement was meant to crash the price so they could rebuy the bitcoins they need (which is being stated on r/bitcoin because lol) wouldn't getting screwed over require gox's customer support to manually resend the funds to whoever complained? shouldn't they have realized that the money was going out at double the rate?
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Feb 10, 2014 19:14
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I knew I should have stayed up last night
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Feb 10, 2014 19:14
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Cantorsdust posted:wouldn't getting screwed over require gox's customer support to manually resend the funds to whoever complained? shouldn't they have realized that the money was going out at double the rate? they had no record of the first one having happened they were just like 'weird how a lot of these aren't going through huh'
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Feb 10, 2014 19:16
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Cantorsdust posted:wouldn't getting screwed over require gox's customer support to manually resend the funds to whoever complained? shouldn't they have realized that the money was going out at double the rate?
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Feb 10, 2014 19:19
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Happy Noodle Boy posted:a plane has hit the second exchange.
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Feb 10, 2014 19:19
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duTrieux. posted:so, in summary, a critical flaw in the algorithm/protocol and bitcoiners are claiming that there is no flaw, it's just that the magic gathering exchange didn't implement the known workaround (which isn't a workaround because there's no flawwwrggrggghjplbthhtb) the workaround literally is telling someone not to touch a bare transmission line until its been deenergized but then they keep doing it repeatedly
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Feb 10, 2014 19:25
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catte is about to hit apoapsis
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Feb 10, 2014 19:26
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jony ive aces posted:dunning-keurig stealin this
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Feb 10, 2014 19:26
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can you explain this to me? there was a misexecuted order? or someone intentionally "sold" a few thousand butts at $100/piece? the exchanges are totally going wonky? or hacks
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Feb 10, 2014 19:27
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maybe it wasn't the best idea to use unconfirmed transactions for tracking our internal ledgers
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Feb 10, 2014 19:28
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dcseankun posted:can you explain this to me? I beleive selling a large amount of butts will tank the price temporarily. So somebody selling 3000 BTC dropped the price all the way down to $102 per BTC for the last of the 3000 BTC they were able to sell. basically if the exchange is telling you $600 USD, you can't sell unlimited bitcoins at that price. Every bitcoin you sell actually lowers the price you'll get back for the next one.
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Feb 10, 2014 19:31
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that's because the btc market has the depth of a kiddie pool
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Feb 10, 2014 19:32
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The upshot is there weren't many buy orders and someone sold a ton of Bitcoin at once, pushing it super low. No glitch. Just a tiny market. For a "currency," Bitcoin is a very small market.
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Feb 10, 2014 19:33
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FrozenVent posted:ron paul, it is occurring, animated electronic image https://www.youtube.com/watch?v=1Q9TYUr-Teo
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Feb 10, 2014 19:34
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Feb 10, 2014 19:43
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hail satan
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Feb 10, 2014 19:44
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bitpay sells butts with an inside connection with gox, gox goes down, bitpay run out of vc funds, the whole joke unwraps in a glorious shitshow. Please
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Feb 10, 2014 19:48
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catte sliding off the ledge again
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Feb 10, 2014 19:50
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duTrieux. posted:so, in summary, flawwwrggrggghjplbthhtb
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Feb 10, 2014 20:03
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EL BROMANCE posted:so buttcoin.org still has new stories going up from here which is cool, but it still has that loving awful BFL story that was rewritten to advertise them - http://buttcoin.org/butterfly-labs-mini-rig-is-a-sexy-bitcoin-mining-machine yeah i can't get rid of this it's just something we have to accept even though it's a terrible idea i hear from the new guy like once a month, he just lets me do wahtever there
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Feb 10, 2014 20:06
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i'm really happy that my actualmoney isn't worth 15% less now than it was 12 hours ago. less happy that my credit card balance isn't but you know you win some you lose some.
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Feb 10, 2014 20:07
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