How is this possible? Why do all bitcoin exchanges drop at exactly the same time? I understand bots and arbitrage in principle, but in practice it takes months to get money out of MtGox, yet the USD rate moves up and down exactly as on bitstamp (with a fixed gox premium). Why?
What's the Best Bitcoin Exchange since MtGox went down?
I have been using Bitcoin since the early days of MtGox. Then I got out of the scene for a few years -- and now I don't even know where to start to find an exchange because they have all changed so much! I need an exchange that works like MtGox. Something that works in this way: 1. Deposit USD into your account by withdrawing from a Checking Account 2. After USD is deposited and registered as USD credit in your account, you can purchase BTC instantly using USD credit. 3. USD is deducted from your account balance, and you have access to the BTC very quickly (So you can spend the BTC asap before the exchange rate changes significantly) I've tried Coinbase -- but I don't like it because:
Their Coin Buying Process: You have to agree to the current BTC rate when you INITIATE the withdrawal from your bank to pay for the coins, and this withdrawal can take up to a WEEK. Meaning that by the time you get your coins, they might be worth a fraction of what they were worth when you imitated the transaction!! For obvious reasons, this is ridiculous and I don't know why ANYONE would want to use Coinbase!
Also, if you don't have a credit card, you can't get instant transactions.
So the jist of the question is: What is the best exchange out there (if any) that will let you deposit USD from a checking account, hold that USD in your account until you are ready to convert to BTC, and then do the transfer from USD to BTC almost instantly? (Basically, are there any exchanges that operate similar to MtGox nowadays? Or is the $itty Coinbase method the only way to buy bitcoins now? Thanks so much for any and all advice!!! I promise you I am no n00b at this stuff. I just don't want to give out all my info to every company out there just to find the best one!! lol
Bitcoin mentioned around Reddit: The trustee's distribution plan is ridiculous. He granted a free call option to MtGox shareholder on the date of the claims and let the debtors took all the down side risk. /r/mtgoxinsolvency
Karpeles lies. There is no missing 850K Bitcoins. MtGox was run as a Ponzi scheme. Karpeles is bitter and wants to bring Bitcoin down with him.
The "850K missing Bitcoins" is just Karpeles' way of blaming the Bitcoin protocol for his thievery. It's smoke. There is no 850K missing Bitcoins. Here's what happened. Early Gox customers put fiat in, bought Btc, sold and were paid off with newer customers fiat. Gox did that for 2 years. Karpeles & Co. pocketed lots of cash and coin along the way.The two recent huge bubbles (April and November 2013) pretty much cleared MtGox out because early and middle-early adopters cashed out. That's a Ponzi scheme. Bitcoin isn't the Ponzi. It's not so severely flawed that 850K Bitcoins can just get stolen over a long, medium or short period without somebody noticing. Karpeles' "transaction malleability" excuse is a lie. When looking for the truth when something unusual happens always go for the simplest explanation. MtGox = Ponzi. Karpeles = Provable Liar over the last few months. Tx Malleability and the missing 850K coins = A LIE designed to save Karpeles' face. It will not succeed.
03-03 04:46 - 'mostly a non-issue form 3 years ago that MtGox used as an excuse to close down. / It should be noted that MtGox's leaked code did indicate that transaction malleability would have allowed stealing funds if they also had incom...' by /u/jaskanh removed from /r/Bitcoin within 270-275min
mostly a non-issue form 3 years ago that MtGox used as an excuse to close down.
It should be noted that MtGox's leaked code did indicate that transaction malleability would have allowed stealing funds if they also had incompetent staff. The software would make a transaction to payout someone then use the txid as a database key to list that as paid out. An attacker would malleate that transaction and then say to the exchange operator: "Hey this transaction never confirmed, I never got my money." At this point, the operator would look at the txid they had and realize it never confirmed and then issue another transaction. There's pretty good evidence that a few thousand bitcoin were stolen like this. Also, recall that several exchanges shutdown for hours to days to "fix" the problem. Remember the mad rush to develop a "normalized" txid? From a developer perspective, things like payment channels are much easier to work with if you don't have to worry about third-party malleability. ''' Context Link Go1dfish undelete link unreddit undelete link Author: jaskanh
Ask /r/Bitcoin: Will the US government eventually shut down MtGox like they shut down e-gold?
I can't help but think that eventually they'll find a reason to close down any major US based Bitcoin exchange. That will be devastating to the BTC and I don't know if it will ever really recover from such a move. What do you guys think? Am I just being paranoid?
Bitcoin skeptics say the digital currency is doomed. They're wrong. But the failure of Mt.Gox shows the agony of an evolving industry without any government oversight and led by tech entrepreneurs ... The problems that MtGox had that have led to the exchange shutting down and announcing the disappearance of about 750000 Bitcoins of users from the exchange (about 850000 total) that they have claimed to be stolen due to the Bitcoin Transaction Malleability. Yesterday MtGox has released another official announcement that they are cooperating with the metropolitan police department of Tokyo and ... The response you're seeing is being served from Akamai's servers (MtGox's CDN provider) HTTP 503 status means that the servers which sit behind Akamai (i.e. MtGox's actual servers) are down. which could mean: 1) They're fixing things 2) They've unplugged everything and shutting shop 3) Some other problem which has caused their servers to go down Bitcoin exchange Mt. Gox shuts down amid rumors of $300 million hack ‟At the risk of appearing hyperbolic, this could be the end of Bitcoin." Mar 2, 2020, 8:34 am* Mt. Gox, called "Mount Gox" or simply "Gox", was the most widely used bitcoin currency exchange market from shortly after its inception in 2010 to its insolvency late 2013. The market was closed February 25, 2014 and has since filed for bankruptcy protection in Japan and the United States, after losing 640 thousand bitcoins.
MadBitcoins Live: Mt. Gox Dies ($135 and website down, trading halted)
Baltimore, MD- Steemit is down and Bitcoin keeps going like the energizer bunny. Litecoin will officially be on Gemini in October (Charlie Lee alluded to thi... This video is unavailable. Watch Queue Queue. Watch Queue Queue BITCOIN EXCHANGE MT. GOX COLLAPSE - MtGox Offline Amid Rumours of THEFT. 75k Bitcoins Missing Bitcoin exchange Mt. Gox has received a subpoena from federal prosecutors in New York, the Wall Street ... Donate Bitcoin: 1NX6ijFGErktMGNYUHayD5iHDcZSFHdAwe Be a Patreon: https://www.patreon.com/madbitcoins Tone Vays Market Analysis LIVE: https://www.youtube.com/... MadBitcoins Live: Mt. Gox Dies ($135 and website down, trading halted)