421–430 of 553 posts
You would think this would be done hourly (if not, at least daily) as part of sanity check / auditing process.
Dear MtGox Customers,
In the event of recent news reports and the potential repercussions on MtGox's operations and the market, a decision was taken to close all transactions for the time being in order to protect the site and our users. We will be closely monitoring the situation and will react accordingly.
Best regards, MtGox Team
Earlier quoted context omitted.
And even now, that is not a valid criticism. There are many successful businesses who have started in fields only tangentially related to their final form. There will undoubtedly be many postmortems on what happened, but card trading will have very little impact on what happened.
I think the point is that a card game has nothing to do with a currency exchange and the same sort of skills you would need for one don't translate into another. We're talking about software we want to deal with a lot of people's money, the impact of a trading card game platform making a big mistake vs a currency exchange is much much different. I think the very real criticism is you might be willing to risk having a…
It's really easy in all of this to pile a bunch of hatred on Mark Karpeles, but please, everybody remember that he is a human being, with real human emotions, and that those things really do hurt. -- MtGox was (past tense is probably appropriate here, but for the sake of anybody who had coins there, I hope not) a startup that failed spectacularly , and publicly, and took a TON of peoples' money with it. The transacti…
Earlier quoted context omitted.
I clicked through and thought you were being too harsh. I mean, it can be fun to make toy implementations of things as an exercise. Doing an SSH server in PHP would be entertaining if you liked PHP. You'd learn something. And then I read that his hacked-together-in-3-days ssh server was for use in production. In a hosting service. Wow. Just wow.
well, is it better to have a hacked MVP released in production, or spend forever making it and never actually releasing it and then missing the window?
Earlier quoted context omitted.
They are insured in the US, but that's a relatively recent development. Before 1934, when your bank failed, you lost your money, which was why there were runs on banks during financial panics (1929, for example). But it is important to note that there is nothing special about a bank that makes it insured. You could set up a bank that is not FDIC insured. Maybe offer people a higher rate of interest the entice them to…
Something that happened in 1934 is a "relatively recent development"? Relative to dinosaurs, sure. Relative to the modern world? No.
It's really easy in all of this to pile a bunch of hatred on Mark Karpeles, but please, everybody remember that he is a human being, with real human emotions, and that those things really do hurt. -- MtGox was (past tense is probably appropriate here, but for the sake of anybody who had coins there, I hope not) a startup that failed spectacularly , and publicly, and took a TON of peoples' money with it. The transacti…
What I wonder is this: Were any bitcoins actually lost during the meltdown? I mean in the sense that nobody can get at them any more. The blockchain should, sooner or later, allow the tracing of some of the coins, right? So if somebody still has access to them, there might be a chance to find out who? Or am I misunderstanding something here?
Oh, and what about when we find out that suspect 1 might not actually be the culprit? Oops. YOLO.
Is there not an interesting question in, assuming coins could be recovered, what laws, in what countries, will cover them, and what value would they have if the 'currency' has no value? Do people want their BC back?
Looks like a bunch of people are praying to get out of bitcoin at 550 right now. If that aspiration thinking fails and people eat through the standing buys around 400, the next stop is 400, where panic will kick in and, maybe there's a pause at 100.
Pins, needles, popcorn... Black Tuesday 2014?
And there's a new statement on the website: Dear MtGox Customers, In the event of recent news reports and the potential repercussions on MtGox's operations and the market, a decision was taken to close all transactions for the time being in order to protect the site and our users. We will be closely monitoring the situation and will react accordingly. Best regards, MtGox Team
There is not one single oficial statement saying what they will do from now on. To me, this delay means just one thing, they screwed big time and have zero good news.