The troubled history of the Bitcoin exchange MtGox
1–10 of 38 posts
Re: The troubled history of the Bitcoin exchange MtGox
#2This was the first time i really understood the problem with this "bug" that mtgox and bitstamp is having - very well written!
Re: The troubled history of the Bitcoin exchange MtGox
#3Mt. Gox and other crypto markets need to switch to using a common, Open Sourced solution. Their use of proprietary software represents a threat to the entire Bitcoin ecosystem.
There's nothing wrong with them keeping a proprietary ledger of accounts, but attaching their crap code to the network is a crime of epic proportions. Hopefully Ethereum will help with this.
Re: The troubled history of the Bitcoin exchange MtGox
#4[deleted]
Re: The troubled history of the Bitcoin exchange MtGox
#5I still cannot believe anyone has any "real" money tied up in something like MtGox. Disturbing, stunning.
Re: The troubled history of the Bitcoin exchange MtGox
#6Mt. Gox and other crypto markets need to switch to using a common, Open Sourced solution. Their use of proprietary software represents a threat to the entire Bitcoin ecosystem. There's nothing wrong with them keeping a proprietary ledger of accounts, but attaching their crap code to the network is a crime of epic proportions. Hopefully Ethereum will help with this.
Your unregulated financial institutions fail to take basic security measures to protect consumers, they frequently halt withdrawals without warning, your uninsured deposits are sucked into the void, your speculative 'currency' experiences extreme daily deflation and inflation...
Better blame proprietary software. Whatever you do, don't question your assumptions. And under no circumstances should you think about the fact that fiat banks in the US all use proprietary software and rarely experience serious problems (and when they do, consumers' deposits are insured up to a large amount).
Re: The troubled history of the Bitcoin exchange MtGox
#7Mt. Gox and other crypto markets need to switch to using a common, Open Sourced solution. Their use of proprietary software represents a threat to the entire Bitcoin ecosystem. There's nothing wrong with them keeping a proprietary ledger of accounts, but attaching their crap code to the network is a crime of epic proportions. Hopefully Ethereum will help with this.
Your unregulated financial institutions fail to take basic security measures to protect consumers, they frequently halt withdrawals without warning, your uninsured deposits are sucked into the void, your speculative 'currency' experiences extreme daily deflation and inflation... Better blame proprietary software. Whatever you do, don't question your assumptions. And under no circumstances should you think about the f…
Perhaps you might think of it more as a compensation measure. Because things are uninsured and untrusted, OSS may be much more important.
Re: The troubled history of the Bitcoin exchange MtGox
#8I still cannot believe anyone has any "real" money tied up in something like MtGox. Disturbing, stunning.
In other news that may also surprise you, there are people who put millions of dollars into companies that don't even have working products yet.
Re: The troubled history of the Bitcoin exchange MtGox
#9Earlier quoted context omitted.
Your unregulated financial institutions fail to take basic security measures to protect consumers, they frequently halt withdrawals without warning, your uninsured deposits are sucked into the void, your speculative 'currency' experiences extreme daily deflation and inflation... Better blame proprietary software. Whatever you do, don't question your assumptions. And under no circumstances should you think about the f…
Perhaps you might think of it more as a compensation measure. Because things are uninsured and untrusted, OSS may be much more important.
This is to the point. In a low trust environment transparency and reputation will be the biggest influencers.
Re: The troubled history of the Bitcoin exchange MtGox
#10So... anyone willing to learn enough about BitCoin to build something to find all the "fixed" transactions? It shouldn't take much analysis to determine whether or not MtGox has been drained.
All these articles written about what happened but no one able to just look at the blockchain and give hard numbers.