It's going to be a long weekend for MTGOX users.

Only if you have the necessary pocket money, which in many cases could be more than what Gox owes you.

One possibility is that it's an attempt to drive the price below other exchanges in order to attract more fiat once the "technical difficulties" magically resolve themselves.

While listening to Iron Maiden with the Scavenger's Daughter on the beach, somebody'll be tightening the Thumbscrews on The Wheel that's turning The Rack of Brazen Bull, of which will be served up with Stake and Choke Pears prior to a fun game of Pillory.

My only question is, why weren't tickets made available via pre-orders?

BTC is going below $650... I am concerned. 

mah bum hurts.


that chart from earlier and that channel... time will tell

My guess is massive support 150-180 if it's there's enough 'bad' news at once.

Their death is long overdue though.

In the bigger picture, I don't understand why people are surprised. There have been warning signs for years.

First, they were a playing cards exchange that jumped ship to get into this later as an after thought because it was more profitable for them.

Second, lets go back to 2011, when an auditor's account was hacked and 2000 BTC were stolen.

Third, openly manipulating the market by simply shutting down their exchange for a "cooldown" period. TWICE!

Fourth, this is not new. They have been having problems since mid 2013. Such as being sued for $75 million dollars by CoinLab and US Feds seizing $5 million in assets because they were not registered in the US as money transmitters back in May, suspending USD withdrawals in June, USD withdrawals not working when they resumed in July, a claim of massive losses in August from crediting deposits before they actually cleared. The buffer they had ran out, and now we're at where we're at.

Fifth is that their exchange rate has always been so much higher than that of all the other exchanges which more or less tracked around the same level. Now, yes, there can be variance in exchange rates dependent on local currency value and exchange volume and other such factors, but it never really did make sense that their exchange alone consistently was 20%+ better than everyone else. It always smelled of price manipulation, but most users never bothered to care because it worked in their favor, or so they thought. There is a saying: "If it seems to good to be true, it probably is!"


So whats happening now? USD withdrawals were never fixed, only got worse and effecting other fiat's too. Insolvent with millions of dollars missing. Their CEO has disappeared as of yesterday. And now BTC withdrawals are suspended. Technical issues? Yeah right. BTC was the only thing of value MtGox possessed, and that was quickly going away as everyone started buying/withdrawing coins since they couldn't get their fiat out, so of course they shut that off.

I'm sorry that a lot of people got and will get screwed. But the writing has been on the wall for a while. They are an inexperienced and shady exchange and always have been. But too many people were (and some still are, I think) in denial of this.

If we can finally get rid of The Gox Issue once for all, that will pave the way to a solid, sustainable growth in the following months.

As far as I'm concerned they had lost my trust and I stopped using them on that famous day of April 2013