Earlier quoted context omitted.
> or at the very least they don't give a crap about anything at all They were the market leader, with substantial revenue and lots of cash flow. Why they didn't prioritize hiring some people and securing their platform is still beyond my understanding. It's up there with the $100+ billion in cash Apple is evidently not using to hire enough code reviewers or implement adequate security processes for their most importa…
I couldn't agree with this more. It's human nature not to prepare for a theoretical risk. But once it's happened to you, and to many others in the same industry, it's just foolishness not to invest in prevention. I imagine there's also a bit of outsider-preference going on here. There's no lack of people who could have been hired to implement controls and audits that would have easily caught a slow leak of coins, but…
New message from Mt. Gox
111–120 of 181 posts
Re: New message from Mt. Gox
#112Earlier quoted context omitted.
Presumably when Mt Gox's bank accounts get seized, whatever money in them will be used to pay off accounts with real currency balances. The people holding bitcoins will get nothing.
That brings up a point of confusion for me. As understand the news, Mt Gox didn't lose a single dollar. They lost 700K BTC. It is neither being pedantic, nor beside the point that this is not the same as $400M. It is the point.
So, even ignoring the Bitcoin, they lost quite a lot of dollars.
Re: New message from Mt. Gox
#113So I have n bitcoins and $x in MtGox; will I get this back? Will there be a haircut? Is MtGox winding down? So many questions...
Re: New message from Mt. Gox
#114Earlier quoted context omitted.
> I'm sure there are still some anti-fraud regulations that would kick in... I don't know, but I don't think so. For the law you may be trading in monopoly money at your risk.
Intentional misrepresentation of fact for material gain doesn't seem to require currency of any sort. So Kome I'll make you a deal, I've got a ownership title for the Brooklyn Bridge and I'll trade this title to you for a case of beer... deal? Deal. Sucka. Then it goes to court. Assuming you can convince the court I knew the title was fake, and the case of beer is worth more than the fake title (maybe the title has a…
Re: New message from Mt. Gox
#115What are they doing in the page source there? Storing a message in a cookie then refreshing the page to display it? The second time you visit the page, you'll get your cookie-stored statement. Almost seems like they want to be able to change their statement without previous visitors seeing the changes.
I don't see anything like that. Here's the page source for me: MtGox.com 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
MtGox.com
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Dear MtGox Customers,
In light 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
This is very odd behaviour.Re: New message from Mt. Gox
#116Re: New message from Mt. Gox
#117I'm one of those who lost a good amount on MtGox. It wasn't in there because I thought they are a bank, I put it there because I like to speculate from time to time. As such I was prepared to lose most if not all of it anyway. I didn't expect things to go wrong so thoroughly, but still that was the premise of my deposits there. So from that perspective, I'm not really mad about them losing the money. It's unfortunate…
> or at the very least they don't give a crap about anything at all They were the market leader, with substantial revenue and lots of cash flow. Why they didn't prioritize hiring some people and securing their platform is still beyond my understanding. It's up there with the $100+ billion in cash Apple is evidently not using to hire enough code reviewers or implement adequate security processes for their most importa…
Re: New message from Mt. Gox
#118Earlier quoted context omitted.
If there was any evidence of that they'd go to jail for a long time - even if bitcoin is not directly regulated, I'm sure there are still some anti-fraud regulations that would kick in...
> I'm sure there are still some anti-fraud regulations that would kick in... I don't know, but I don't think so. For the law you may be trading in monopoly money at your risk.
Re: New message from Mt. Gox
#119What are they doing in the page source there? Storing a message in a cookie then refreshing the page to display it? The second time you visit the page, you'll get your cookie-stored statement. Almost seems like they want to be able to change their statement without previous visitors seeing the changes.
I don't see anything like that. Here's the page source for me: MtGox.com 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
MtGox.com loadingPlease wait...
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#120Earlier quoted context omitted.
> or at the very least they don't give a crap about anything at all They were the market leader, with substantial revenue and lots of cash flow. Why they didn't prioritize hiring some people and securing their platform is still beyond my understanding. It's up there with the $100+ billion in cash Apple is evidently not using to hire enough code reviewers or implement adequate security processes for their most importa…
> Apple is evidently not using to hire enough code reviewers It's naive to think that the more people you throw at the problem, the less bugs there will be. See also: The Mythical Man-Month.
If you are saying "hiring more highly-skilled people to review the code won't work," then I'll disagree. App sec engineers can be had for the price.
[1] I say this despite the fact that this was a bug that leapt out at people who had no security knowledge. The one before this and the one after this won't be like that.