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Author Topic: MTGoX gone?  (Read 5476 times)
Chunka
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« on: February 27, 2014, 09:19:00 pm »

MtGox went offline this week after it was discovered that almost 3/4 million (up to 350 million US worth) of bitcoins had been stolen due to a security loophole.

Story

Story

Bitcoin exchange rates plummeted after.....dropping as low as $420 per coin on some exchanges (from a high of as much as $1200+ per coin).

Hmm.....wonder if this means vid card prices will get back to normal soon Tongue
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"When any government, or any church for that matter, undertakes to say to its subjects, "This you may not read, this you must not see, this you are forbidden to know," the end result is tyranny and oppression, no matter how holy the motives. Mighty little force is needed to control a man whose mind has been hoodwinked; contrariwise, no amount of force can control a free man, a man whose mind is free. No, not the rack, not fission bombs, not anything — you can't conquer a free man; the most you can do is kill him." R.A. Heinlein
red2
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« Reply #1 on: February 28, 2014, 09:03:44 am »

filed for bankruptcy protection. so yeah id say gone.
http://news.slashdot.org/story/14/02/28/1316237/mtgox-files-for-bankruptcy-protection
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Chunka
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« Reply #2 on: March 10, 2014, 12:05:03 pm »

Bitcoin fans are asserting that the shutdown of MtGox was because it was an isolated, shoddy bank with poor business practices and should have been shut down, but that Bitcoin itself was healthy and safe.

However, exchange after exchange keeps running into these issues: http://www.bbc.com/news/business-26446142

I think what we're seeing is more than a few shoddy traders. I think this is an inherent flaw in the system.
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"When any government, or any church for that matter, undertakes to say to its subjects, "This you may not read, this you must not see, this you are forbidden to know," the end result is tyranny and oppression, no matter how holy the motives. Mighty little force is needed to control a man whose mind has been hoodwinked; contrariwise, no amount of force can control a free man, a man whose mind is free. No, not the rack, not fission bombs, not anything — you can't conquer a free man; the most you can do is kill him." R.A. Heinlein
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