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New message from Mt. Gox

mtgox.com

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Re: New message from Mt. Gox

#141

Post by yebyen »

650REDHAIR wrote: post #69
ctdonath wrote: post #36

Earlier quoted context omitted.

Silent would be worse. At least we know that the site is deliberately disabled by its owners, as opposed to a host of other hypotheticals we'd be discussing otherwise.

No. Because this shows that they aren't using some sort of professional crisis management team and are trying to handle it in house. That's ridiculous. They keep showing themselves incapable of handling such a high profile company.

Do they have to hire a team if someone with deeper pockets just came in and said "Shut it down, we're buying you out"?

You may be right that they are incompetent and it shows, but it doesn't necessarily follow that the answer is to right now immediately hire a new team and let them handle it.

Re: New message from Mt. Gox

#142

Post by pliny »

sillysaurus3 wrote: post #82
Udo wrote: post #42

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…

It's not even as simple as a failure to communicate. It's hard not to conclude that they outright lied. First it was malleability, then it was "we're waiting on bitcoin developers," then it was "we've moved due to protesters and security problems," and now it's "we've closed our site due to recent news reports." I wonder when precisely they realized that >700,000btc were missing.

>I wonder when precisely they realized that >700,000btc were missing.

Once they stole the 700,001st bitcoin?

Re: New message from Mt. Gox

#143

Post by saraid216 »

davidw wrote: post #68
kyleblarson wrote: post #59

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.

Uh. If I was in organized crime and I heard that Bitcoin was a great way to do money laundering, I'd make sure I knew about it. That's half the point of organizing crime to begin with.

Re: New message from Mt. Gox

#144

Post by saraid216 »

post_break wrote: post #54
obsession wrote: post #27

Earlier quoted context omitted.

Even if you were a shady drug dealer, revenge doesn't get your money back.

It's not about the money. It's about sending a message.

Oh, come now. Bits don't burn.

Though the idea of making a pile of hard drives and setting that on fire sort of intrigues me...

Re: New message from Mt. Gox

#145

Post by kalleboo »

TophWells wrote: post #115
TophWells wrote: post #91

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

Wait, I refreshed the page a few times, and once, I got: MtGox.com var AKSB=AKSB||{};AKSB.q=[];AKSB.mark=function(b,a){AKSB.q.push(["mark",b,a||(new Date).getTime()])};AKSB.measure=function(b,a,c){AKSB.q.push(["measure",b,a,c||(new Date).getTime()])};AKSB.done=function(b){AKSB.q.push(["done",b])};AKSB.mark("firstbyte",(new Date).getTime()); AKSB.prof={custid:"223233",ustr:"",originlat:0,clientrtt:19,ghostip:"23.51.24…

AKSB = Akamai

http://aksb-a.akamaihd.net/146060/aksb-a/aksb.min.js

Re: New message from Mt. Gox

#146

Post by toyg »

sneak wrote: post #66
Udo wrote: post #42

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…

> 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…

> It's not hard to solve these problems with money

Have you ever read The Mythical Man-Month? These things are very hard to solve, no matter how many resources you throw at the problem. Sometimes, it's just a choice between quick iteration / innovation and bad bugs vs slow-release and less bugs. Since reliability is fairly difficult to assess above certain levels, people will pay for the new shiny, not for less bugs.

Re: New message from Mt. Gox

#147

Post by biot »

Sometimes it seems like Mt.Gox is a corporation in EVE Online. Like in EVE, they're trading in virtual goods and there's zero regulation. Similarly, scams are part of the game.

Re: New message from Mt. Gox

#148

Post by madaxe_again »

dblacc wrote: post #39
reedlaw wrote: post #18

Earlier quoted context omitted.

Sounds very passive. "Closely monitoring"? "React accordingly"? As if they were not the ones running the site.

Words chosen very carefully in an attempt to keep everyone calm..

Words chosen very carefully that potentially hold a subtext. Are they hinting at a security service takedown and gag? MtGox would be a potential target if, say, someone wanted all the data to do a statistical analysis and tie MtGox accounts to SR accounts.

Way out there, but it's anyone's guess right now, and I thought I'd throw this hat in the ring.

Re: New message from Mt. Gox

#149

Post by marincounty »

ekianjo wrote: post #19
malka wrote: post #10

I would not like to be in the shoes of mtgox CEO... He lost about 400M USD, some of them probably belonging to shady peoples (drug dealer, mobs, etc.)

Well that's what people say, yet I haven't seen lots of executives in large companies where scandals have occurred suddenly getting randomly killed by hitmen in the streets. And Madoff's still alive, too.

Japan's mafia is differnt than American's mafia. They are technically savvy and might be more ruthless? (Don't ask me how I know--I was even shocked they exist, but even in Marin County I knew a guy who owed them money, and they were the first one he paid back. I have a huge suspicion that The Yakuza is running Mt. Gox? Asians not involved with gambling--what is that called ironic? And no I not racist, but just pointing out an observation. And funking yes--crypto currency is gambling. It's not backed by anything, other than code, and promises. If banks weren't insured by the federal government I would not keep my money in them. I blindly trust most poor, middle class people. Once they get a few shekels save up--they change. Yes--Most of the wealthy I have been around literally stole their money. Some legally, but many just stole. I hope Internet sleuths can find out what happened at Gox. And God bess the brave who lost their lives in the Ukraine.

Re: New message from Mt. Gox

#150

Post by madaxe_again »

AmVess wrote: post #38
ekianjo wrote: post #19

Earlier quoted context omitted.

Well that's what people say, yet I haven't seen lots of executives in large companies where scandals have occurred suddenly getting randomly killed by hitmen in the streets. And Madoff's still alive, too.

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.

Tastes irony.
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