Wouldn't surprise me... was thinking the same. Too many people trying to withdraw as the price tumbles.
A bullshit amount of coins have been moved lately, I would think Mt gox is probably ok for the moment, short term.
Alot worse has happened in the past. I was referring to a lot of cold coins that have been moved lately could potentially be gox coins in cold storage so I won't be surprised if they are back up and running next week, best case scenario. Worst case scenario they get rapped by the federales from all these lawsuits. They are a shit house exchange and the sooner their trade volume moves to zero they better.
Personally, I'd have to get back into using my existing PayPal and Visa card accounts instead. Higher fees and higher risk of fraud. Oh well..at least bankers can get richer off me and Altima will be happy.
I'm just saying that based on the article, mtgox played an important role in bitcoin. It would seem possible that its demise could leave an irreversible effect no?
this was true over a year ago. now other exchanges have much higher volumes and none of the withdraw issues, especially fiat that mt gox has had. its demise will probably be a welcome thing to the community, one advantage of decentralisation.
I've come across another person within the precious metal community that would rather I use PayPal rather than bitcoins for my transactions. t is fascinating to me that some people within the precious metal community wish that I have less freedom of choice and less technology to utilise for my benefit. PayPal actually blocked people from donating their funds to Wikileaks. The fact that Altima surely wishes I have less freedom of choice in this world comes as zero surprise (not to mention fees to bankers). I've seen this before. After all, who needs technology when we have shovels that can dig the ground for precious metals. That is all we need right?.
So: there is a massive withdrawal and they can't cope with it. It's like a bank run. Second: once they start being able to cope with it, they (should) release the funds to those who want to withdraw. The obvious consequence will be even cheaper Bitcoins. The ships' going down!
Sounds like the Hotel California, you can check out anytime you like, but you can never leave. Never visited Mt Gox thank Foox. Gox obviously has some accounting problems. It might be the end of Gox but I doubt it will be the end of BTC or Crypto's. Look where the DotCom crash got us.
Yup, Google and Amazon seemed to survive OK. **Most people surely don't yet comprehend that a highly significant invention has occurred (and that includes people whom have crypto currencies).** It took me years to get it.
