Gox?

[reparto]

Anyone? Anything? I can't say for sure if they are going insolvent or are just terribly managed but I have doubled my bitcoins so... if they do make a comeback then it would be an amazing payoff.

[bad_brain]

well, from what cats told me (I am using another BTC portal) the accounts/transfer have been frozen on Mt Gox, so lots of people lost a lot of money (it's safe to say nobody will get anything if they claim to be insolvent).
and even IF people get their money the reputation of Mt Gox is definitely ruined, and trust is the most important in this business, so I have my doubts they will make a comeback...at least not under the same name (and new names will have it hard to establish).

but then again I still hope they do, because I just had a nice way to make some good bucks by reselling discovered...

[reparto]

I did some thinking and if Gox was insolvent then a lot more people would be freaking out than just redditors. If Gox goes down then its pretty much the end of bitcoin or at best a 4 year setback. Also, there are rumours of an acquisition going around, the only people who would buy Gox are the Winklevoss twins who probably have a million bitcoins stored on Gox.

[bad_brain]

well, when privacy is very important for you, and privacy/anonymity is surely one of the main purposes of using BTC, it's not really natural to freak out in public I guess.
claiming insolvency is also not always that much of a "we really have totally no money anymore" issue, it's often more a legal stunt to avoid getting sued (and then really running into total insolvency)...and Mt Gox has all reason to fear getting sued, I mean, how many BTC "disappeared"? almost 750.000? just one of the people who lost their money will have to hire a lawyer and sue, then all the ones who didn't sue yet because they want to stay anonymous could join and turn it into a mass lawsuit.
so IF Mt Gox wants to stay they will first have to explain what really happened, where the money is, and then look for a potent investor if they don't have enough money to pay everything back....imo full transparency is now the only way for them to at least have a little chance not to lose all trust of the users and maybe resume their business.
as you said, right now there only seems to be one potential investor, and that one seems to be only involved out of own interests....which makes them corporate raider material by high chances and does not grant real future perspectives for Mt Gox imo.

and yeah, it would of course be a hard blow for BTC as currency if Mt Gox disappears, but I think in the long run it would even be good because when the de facto central institution for BTC rates is gone it will open a lot more free market....IF the currency survives the first phase of total chaos and manages it to organize itself again.

[ayu]

My coins ...

[bad_brain]

keep mining buddy, you can sell it through the marketplace I use still...for better prices than Gox provided, right now 406 €:
https://www.bitcoin.de/en/market" onclick="window.open(this.href);return false;
should be also no problem for people from your country to join as long as you have a regular bank account with IBAN number (they are pretty anal there about account verification and security to minimize the risk of fraud).

[reparto]

Gox applied for bankruptcy immunity in japan, possible comeback?

[ayu]

Gox applied for bankruptcy immunity in japan, possible comeback?

Hopefully.
If/when they come back online, I'm moving my coins from there and never using it again.
They have lost my trust completely.

[reparto]

Gox applied for bankruptcy immunity in japan, possible comeback?

Hopefully.
If/when they come back online, I'm moving my coins from there and never using it again.
They have lost my trust completely.

They have opened a phone line in Japan for inquiries, this might be a means to get people to claim bitcoins that were in their account so that damages can be calculated for the bankruptcy immunity. It might be worth your time (and mine) to contact them about your account balance so that they can't say that you abandoned your account thus increasing the likelihood of getting your coins back.

Also, are there any exchanges that use a wallet that requires two signatures to authorise a payment? If all the wallets on an exchange needed an exchange signature and a user signature then you could essentially retain full control of your bitcoins. All exchange functionality is still possible using this and you will have more security than using the current system of keeping the online wallet keys away from the user.

[ayu]

I have called MtGox today, and couldn't get much information out from them.
The only clear info I could get was "We don't know anything at this time".

I will continue my attempts to get my money back.

[bad_brain]

good luck, as long as they don't file bankruptcy officially there is at least a chance....IF they do there is also a chance, but it gets slimmer with everyone they owe more BTC than they owe you then (the biggest amounts are served first usually, might differ from country to country though).

[bad_brain]

you know how it is when getting old...you forget where the car key is, or if you have turned off the heating after going to a vacation...or where you had 200k BTC...

http://www.reuters.com/article/2014/03/ ... 5N20140321" onclick="window.open(this.href);return false;

[ayu]

you know how it is when getting old...you forget where the car key is, or if you have turned off the heating after going to a vacation...or where you had 200k BTC...

http://www.reuters.com/article/2014/03/ ... 5N20140321" onclick="window.open(this.href);return false;" onclick="window.open(this.href);return false;

haha yeah read that xD

[reparto]

To be fair... they are incompetent...

This 200k bitcoins should be enough to pay off debts and bitcoin balances, we might be one step closer to withdrawing from gox.

Also, this could have been all planned, they drop the price and buy bitcoins cheap and use those bitcoins to replace lost bitcoins

[reparto_temp]

Supposedly the 200k bitcoins will be sold on an exchange, prepare for the pricedrop