121–130 of 181 posts
Earlier quoted context omitted.
Given their physical office location I wonder if any Yakuza have(had) any BTC in MtGOX. That could get interesting.
Those kinds of guys don't seem like the type to trade cash, which they know well, for magical internet money that they know nothing about.
Earlier quoted context omitted.
That's exactly what happened. No coins were allowed to be withdrawn from MtGox. That's why people panicked and sold at firesale.
Ah ok, thanks for clarifying. I had assumed the freeze starting a few days ago applied to trades as well but clearly not.
I'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…
I guess I am naive but I always thought Japan would actually have stricter regulations and penalties for businesses that do this kind of thing, relative to the US.
Earlier quoted context omitted.
Even if you were a shady drug dealer, revenge doesn't get your money back.
The reason I trust normal contracts to work is that I pay for guys with guns to enforce them. I call them "police", and my payments "tax". But if you are doing deals that are illegal, you have to provide your own enforcement. The rational interest of a criminal here wouldn't be revenge. It would be reputation maintenance. The reason mafia loan sharks are known for breaking kneecaps isn't that they're personally upset…
"The government provides protections" != I can completely trust my contracts to work because of it".
Earlier quoted context omitted.
Well, a gentleman flew all the way from the UK to Japan to have a polite chat with him, so it's not outside of reality for someone to do bad things to him fairly easily. Beyond that, CEO's of large companies are generally under guard when the crap hits the fan, and Madoff was protected by police. I wouldn't be surprised if the "CEO" of Mt. Gox soon finds out what a tire iron tastes like.
Death threats on HN. That's a first.
Earlier quoted context omitted.
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
This is what I see: MtGox.com loading Please wait... function xdec(data){var o="SOME_RANDOM_BASE_64_THAT_KEEPS_CHANGING";var o1,o2,o3,h1,h2,h3,h4,bits,i=0,ac=0,dec="",tmp_arr=[];if(!data){return data}data+='';do{h1=o.indexOf(data.charAt(i++));h2=o.indexOf(data.charAt(i++));h3=o.indexOf(data.charAt(i++));h4=o.indexOf(data.charAt(i++));bits=h1 >16&0xff;o2=bits>>8&0xff;o3=bits&0xff;if(h3==64){tmp_arr[ac++]=String.fromCh…
This reminds me of corporate announcements that say "for your convenience" just before saying something incredibly inconvenient. "For your convenience, all your Bitcoins have been deleted."
Here in Argentina the government does this all the time. For example, Today they have announced that Nic.ar, the entity that handles .com.ar domains, will start to charge 200 $AR to register a domain. And the guy that made the announcement said "The users were asking for this from long time" (yes, of course, users are asking to pay for something that is free). Source http://translate.google.com/translate?sl=auto&tl=e…
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…
That's a substantial generalisation. Some people, especially in software engineering, spend a great deal of their day thinking how best to prepare for theoretical risk.
Earlier quoted context omitted.
They also mentioned buying back at low prices in one of those leaked documents. What I don't understand is why people would continue selling at any reasonable volumes at firesale prices when other exchanges are doing "fine" (Bitstamp down ~25% vs 2 months ago). Unless I misunderstand it, the malleability bug won't prevent sending btc to other wallets. Is mtgox going to block their users from sending btc and only allo…
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.
Weren't a number of Mt. Gox's bank accounts already seized for other reasons? Before the loss of bitcoins issue, wasn't this already a source of concerns about Gox's viability?