Once Mighty Bitcoin Exchange Mt. Gox Is Offline, Likely Dead

[ACoochy]

http://www.forbes.com/sites/ericmack/2014/02/24/once-mighty-bitcoin-exchange-mt-gox-is-offline-likely-dead/

Mt. Gox, the one-time monarch of the Bitcoin kingdom, appears to be dead, or at least in a very serious coma. The troubled exchange for the volatile crypto-currency has been offline since at least 10:30 p.m. Eastern time on Monday. Earlier in the evening, the site was online but logins appeared to be disabled.

Mt. Gox not long ago claimed to be the largest of the online Bitcoin exchanges, but began to run into problems in the fall of last year when customers started to report long delays being able to withdraw funds from accounts. Earlier today, Mt. Gox CEO Mark Karpelès resigned his seat on the board of the Bitcoin Foundation and all tweets on the Mt. Gox Twitter account have been mysteriously erased.

Bitcoin prices on Mt. Gox had been hovering well below that of other Bitcoin exchanges, likely due to suspicions that it was nearing insolvency. Now it appears that the lights have finally gone out atop what was once one of the tallest peaks in the virtual crypto-currency range.


Welcome to a new era people. Now lets this time get it right

[gauchojake]

I want to know who stole the 375,000,000 from Gox. That's quite a heist.

[retard]

I want to know who stole the 375,000,000 from Gox. That's quite a heist.

the btc was likely sold before the crash so its even more

Maybe why we have been seeing top bankers commit ''suicide'' the past couple of weeks.

[ACoochy]

I want to know who stole the 375,000,000 from Gox. That's quite a heist.

Cant think of a bigger heist in history...

[SamDiamond]

It is absolutely amazing at how fast this death came.

Gox was literally on top of the world 6 weeks ago--- and then poof it is over.

And it is clearly now affecting the other exchanges.

[ACoochy]

Come on Sammy, calm down pal...

This is a blip because the community had seen the Gox demise coming for quite some time...

And if there's any silver lining for US investors its that those who lost money here can claim up to 3k per year in losses against their capital gains until the loss has been filled...

Looking forward to seeing how all this pans out...

[SBR_John]

The biggest part of the story is Bitcoins are STILL $497.20! Showing amazing resilience. We should probably be buying. The Gox news will soon be over.

[SamDiamond]

The biggest part of the story is Bitcoins are STILL $497.20! Showing amazing resilience. We should probably be buying. The Gox news will soon be over.

You do realize that price could very well reflect those people who bought in above 600, and just refuse to surrender?

[SBR_John]

You do realize that price could very well reflect those people who bought in above 600, and just refuse to surrender?

No. Markets don't work that way. They will be oversold on bad news and this is fuggin bad news. Absolutely no guarantee the other exchanges are not infected. Meanwhile..... buyers have bid up the coins back over $500 in the past hour, $506 as we speak.

I'm in the 'i got no balls' camp.

[SBR_John]

Just traded at $517.40

[SamDiamond]

No. Markets don't work that way. They will be oversold on bad news and this is fuggin bad news. Absolutely no guarantee the other exchanges are not infected. Meanwhile..... buyers have bid up the coins back over $500 in the past hour, $506 as we speak.

I'm in the 'i got no balls' camp.

Bitcoin is a funny bird. You can't look at this through the prism and compare it to other commodities like gold and silver.

You have a very hard line group of people who see Bitcoin as more of a mission in life than an investment. They are convinced it can not fail and they will never surrender.

Did/were you expecting everyone to run toward the door because of Gox going under?

[SBR_John]

Just traded at $517.40

$528.50 wholly fukkk. $531, in full rally mode.

[SamDiamond]

$528.50 wholly fukkk. $531, in full rally mode.

Yeah, I mean, Bitcoin has never been volatile.

[flyingillini]

This news means nothing. I could give a shit if the whole thing collapses, I made mine. However, it's not going to collapse she will go back over 1k.

[SamDiamond]

$528.50 wholly fukkk. $531, in full rally mode.

It's moving away from you John. No post?

I've seen you do this before John... just can't remember where/when.....

Was it InTrade/Romney?

[The Kraken]

Whats it at Sammy?

Maybe he sold

[SamDiamond]

Whats it at Sammy?

Maybe he sold

On Bitstamp...as of this second...4:39PM in the east, it is at 510.64, and on btc-e it is at 512.83.

Those are the two largest exchanges today.

[ACoochy]

Bitcoin is a funny bird. You can't look at this through the prism and compare it to other commodities like gold and silver.

You have a very hard line group of people who see Bitcoin as more of a mission in life than an investment. They are convinced it can not fail and they will never surrender.

Did/were you expecting everyone to run toward the door because of Gox going under?

Sammy its no more ludicrous than a bunch of people who want to hold onto a currency thsts associated with a multi trillion dollar debt....

Can u see how crazy that seems on the outside of it?

[SBR_John]

It's moving away from you John. No post?

I've seen you do this before John... just can't remember where/when.....

Was it InTrade/Romney?

$553 NOW. You have to go back a year to remember a loser? You might of missed the gold buying threads recently with your selective memory recall??

We can debate all that but the correct call on Bitcoins is to buy on any weakness.

[ACoochy]

We can debate all that but the correct call on Bitcoins is to buy on any weakness.

+1

Also, id be staying away from exchanges for time being.

Wait til they are universally regulated..

[jjgold]

Many experts think bit coin is going to be worth about two dollars eventually if not regulated

It will be impossible to survive knowing people do not have anywhere to go have their money guaranteed

[ACoochy]

Many experts think bit coin is going to be worth about two dollars eventually if not regulated

It will be impossible to survive knowing people do not have anywhere to go have their money guaranteed

Coach, bitcoin is solid until a 3rd party becomes involved (have hypothetically done many transactions p2p).

USD should also be worth less than paper its written on but why isnt it?

There u have ur reason as to why bitcoin will not fall to those depths anytime in near future...

[flyingillini]

It's pretty convincing reading all the talk on SBR 99.9% of the posters except for a few don't really understand BTC, a ton of ignorance. Inform yourself on what you are talking about.

[retard]

https://blockchain.info/address/1Drt...SSixZwQtMZ3Tew

[SBR_John]

Pending Will complete by the end of day on Tuesday Mar, 4 2014 Created Wednesday Feb, 26 2014 at 03:50AM CST
2,961.97 USD 5.00 BTC


Subtotal $2,932.50
Coinbase fee $29.32
Bank fee $0.15
Total

$2,961.97

Price per coin: $586.50

...back in the game.

[Itsamazing777]

Once the winklevoss twins said to get bit coin now, it will go to 10k or whatever, I knew it was dead.

[SBR_John]

Back to $600.

[statnerds]

fukk all that BTC sh!t. mary jane bubble is going to blow for the next year or 2 before it pops. tons of cheap ones out there. i picked up 8 of them a month ago. CANN my big winner so far, up 60% today. buy, sell, buy, sell, buy, sell...you know the routine. the returns to be had are redonk right now.

[timbaland99]

fukk all that BTC sh!t. mary jane bubble is going to blow for the next year or 2 before it pops. tons of cheap ones out there. i picked up 8 of them a month ago. CANN my big winner so far, up 60% today. buy, sell, buy, sell, buy, sell...you know the routine. the returns to be had are redonk right now.

Teach me your ways please

[SBR_John]

Very quiet the past two days. In the middle of its recent range currently at $574.90.

[SBR_John]

A $9 up move puts it at $583. Gold adding $4 to the up side so far.

[brooks85]

lol this picture is hilarious because of one key word and sums up the exact reason why bitcoin is a joke.

Teach me your ways please

Invest some in disney right now, if it goes down invest some more. Keep doing this all the way through 2015 which is going to be Disney's best year ever most likely.

[SBR_John]

Parts of this whole Bitcoin is certainly a joke.

I'm with Coinbase and they are sorta a joke too. To be super-duper qualified they ask you questions like which is your previous address and then offer no correct answers. I'm limited to buying 5 coins a day even though they are connected to my bank account. Totally Mickey Mouse. But, I'm chalking it all up to being new. When things get smooth they will likely already be selling for 5x as much.

[SBR_John]

Well for some reason Coinbase let me buy 2 more BTC. maybe they have been reading my posts about how Mickey Mouse they are. I will keep buying under $600.

[ACoochy]

Well for some reason Coinbase let me buy 2 more BTC. maybe they have been reading my posts about how Mickey Mouse they are. I will keep buying under $600.

Make sure you stash those suckers in a vault...GL