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CONSPIRACY THEORY TIME. What if Mt. Gox didn't really lose a post-Panamax boatload of Bitcoin (just a small amount)? They're just manufacturing a panic so they can buy Bitcoins at fire-sale prices, declare "We have all the BitCoin we need after all, we fixed our bug, everything's fiiiine" and maybe even turn a cash profit on the upside?
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.
But isn't that just one of the differences between a regulated business and an unregulated one? Madoff isn't dead, but he is in prison.
"Because people discovered that we lost or stole money, and that would destroy our operations, someone who doesn't want to be responsible for making a decision decided that we could try causing a market crash by dramatically wiping our accounts, lowering the price enough that we could buy our way back to solvency. It didn't entirely work, so we're making this announcement, which is also meant to lower the price, or if that doesn't work, allow us to segue back into operations. We will be monitoring the Bitcoin price and will react accordingly."
Are you kidding me? This message is likely worse than staying silent.
And it doesn't seem to have been proofread very well. "In the event of [something that has already happened]..."? I don't consider myself a particularly picky person, but come on, you could at least make the effort at a time like this.
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.
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.
The current message means absolutely nothing: "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"
Sounds very passive. "Closely monitoring"? "React accordingly"? As if they were not the ones running the site.
The current message means absolutely nothing: "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"
Sounds very passive. "Closely monitoring"? "React accordingly"? As if they were not the ones running the site.