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Mt Gox closes it's doors without warning, apparently declaring insolvency

Bonsai99
By Bonsai99
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Posted

We can haz AMD cards?

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VAULT - File Server

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Intel Core i5 11400 w/ Shadow Rock LP, 2x16GB SP GAMING 3200MHz CL16, ASUS PRIME Z590-A, 2x LSI 9211-8i, Fractal Define 7, 256GB Team MP33, 3x 6TB WD Red Pro (general storage), 3x 1TB Seagate Barracuda (dumping ground), 3x 8TB WD White-Label (Plex) (all 3 arrays in their respective Windows Parity storage spaces), Corsair RM750x, Windows 11 Education

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Intel Core i7 6700K @ 4.4GHz, 4x8GB G.SKILL Ares 1800MHz CL10, ASUS Z170M-E D3, 128GB Team MP33, 1TB Seagate Barracuda, 320GB Samsung Spinpoint (for video capture), MSI GTX 970 100ME, EVGA 650G1, Windows 10 Pro

Mac Mini (Late 2020)

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Apple M1, 8GB RAM, 256GB, macOS Sonoma

Consoles: Softmodded 1.4 Xbox w/ 500GB HDD, Xbox 360 Elite 120GB Falcon, XB1X w/2TB MX500, Xbox Series X, PS1 1001, PS2 Slim 70000 w/ FreeMcBoot, PS4 Pro 7015B 1TB (retired), PS5 Digital, Nintendo Switch OLED, Nintendo Wii RVL-001 (black)

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We can haz AMD cards?

I hope so, I use Nvidia but the way the prices for AMD went up because of mining is stupid, but then again there is still Cryptocurrency so for now atleast I don't see prices coming down, I think the more relevant thing that will bring prices down (hopefully and not up) is maxwell, if the 750ti is a good power effective mining card then what will happen when the 800 series comes out and people try mining on the 880 for example? It's already gonna be a pricey card so I just hope that it's priced fair for gaming and not double in price because it also happens to mine well.

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We can haz AMD cards?

Retailers will probably still try to price gouge but I imagine this has put a lot of people off of the whole mining idea since profitability for all cryptocurrencies sucks right now because of the huge drop off in the price of Bitcoin.

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In b4 the inevitable suicide hotline post in reddit. I wonder how bad the value has tanked so far

CPU Overclocking Database <------- Over 275 submissions, and over 40,000 views!                         

GPU Overclocking Database                                                    

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That is what you get for investing in Bitcoins

Bitcoins are going to do just fine, nothing wrong in investing in a cryptocurrency. You should expect to lose money investing in whatever's volatile. Never invest more than you can afford to lose, there are rules you should set for yourself when you decide in investing in anything.

 

I wonder if /r/Bitcoin will put up that suicide hotline number again like they did previously when the price of Bitcoin tanked. I imagine a lot of people had lots of money stuck in Gox and at this point they aren't just looking at losing part of their money, all of their money is just completely gone.

These guys need to learn to never invest more than they can afford to lose, investments isn't like sticking your money in a bank and waiting for interest to build up. Same goes for physical items and of course cryptocurrencies, nothing is indefinitely safe. 

 

YES! DEATH TO CRYPTOCURRENCY!

Lol to bad cryptocurrencies aren't going to be dying anytime soon. It's taken off more than anything really..

 

I knew bitcoin isnt a future

Maybe not bitcoin in the long run seeing how its a pioneer to cryptocurrenices but I assure you other cryptocurrencies will always be willing and able to step up to the plate. 

Like watching Anime? Consider joining the unofficial LTT Anime Club Heaven Society~ ^.^

 

 

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I've got quite a few responses for this:

Let's be honest, this was probably inevitable. Not MtGox closing like this, but

a major bitcoin exchange going under and taking everything with them. 

This is the nature of storing your coins online. This is what can happen. If you weren't willing to take this risk, you shouldn't be storing your coins on the web in a major exchange. 

 



Bitcoin will rebound. It always does. Something like this was necessary to show everyone who does use the coins the danger of storing them somewhere that isn't local. The price will inevitably go up again. Even if it takes 5 years, I expect to see it at over $500 at least, and even possibly at $1,000 again.

Now is the time to buy.

Read that spoiler title. Read it again so you understand I'm serious.

 



Alright guys, I'm going into cold storage. Wake me up when BTC is back over $500. If I'm never woken up again, then that's ok. 

Well, this sucks. 5 to 10 years? Sounds reasonable.

† Christian Member †

For my pertinent links to guides, reviews, and anything similar, go here, and look under the spoiler labeled such. A brief history of Unix and it's relation to OS X by Builder.

 

 

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Just something interesting I found from Slashdot:
 

From mtgox.com:
 
<html> <head> <title>MtGox.com</title> </head> <body> <!-- put announce for mtgox acq here --> </body> </html>

 

 

Where acq means Acquisition. Someone bought or took hold of MtGox? 

This was from when going to www.mtgox.com gave you a blank page. 

The new page looks like this:

 

12773186083_ca6ccd0980_o.png

And it wasn't like that before this news hit. So something else is happening. Maybe it isn't worst case scenario after all?

† Christian Member †

For my pertinent links to guides, reviews, and anything similar, go here, and look under the spoiler labeled such. A brief history of Unix and it's relation to OS X by Builder.

 

 

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Posted

Just something interesting I found from Slashdot:

 

 

Where acq means Acquisition. Someone bought or took hold of MtGox? 

Hmm... Interesting... Maybe EA did this.

Main rig on profile

VAULT - File Server

Spoiler

Intel Core i5 11400 w/ Shadow Rock LP, 2x16GB SP GAMING 3200MHz CL16, ASUS PRIME Z590-A, 2x LSI 9211-8i, Fractal Define 7, 256GB Team MP33, 3x 6TB WD Red Pro (general storage), 3x 1TB Seagate Barracuda (dumping ground), 3x 8TB WD White-Label (Plex) (all 3 arrays in their respective Windows Parity storage spaces), Corsair RM750x, Windows 11 Education

Sleeper HP Pavilion A6137C

Spoiler

Intel Core i7 6700K @ 4.4GHz, 4x8GB G.SKILL Ares 1800MHz CL10, ASUS Z170M-E D3, 128GB Team MP33, 1TB Seagate Barracuda, 320GB Samsung Spinpoint (for video capture), MSI GTX 970 100ME, EVGA 650G1, Windows 10 Pro

Mac Mini (Late 2020)

Spoiler

Apple M1, 8GB RAM, 256GB, macOS Sonoma

Consoles: Softmodded 1.4 Xbox w/ 500GB HDD, Xbox 360 Elite 120GB Falcon, XB1X w/2TB MX500, Xbox Series X, PS1 1001, PS2 Slim 70000 w/ FreeMcBoot, PS4 Pro 7015B 1TB (retired), PS5 Digital, Nintendo Switch OLED, Nintendo Wii RVL-001 (black)

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Just something interesting I found from Slashdot:

 

 

Where acq means Acquisition. Someone bought or took hold of MtGox? 

This was from when going to www.mtgox.com gave you a blank page. 

The new page looks like this:

 

And it wasn't like that before this news hit. So something else is happening. Maybe it isn't worst case scenario after all?

Nice find.

 

Hmm... Interesting... Maybe EA did this.

Oh god no.... lol...

Like watching Anime? Consider joining the unofficial LTT Anime Club Heaven Society~ ^.^

 

 

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Nice find.

 

Oh god no.... lol...

Yearly releases... Unstable releases.. Oh god.

Main rig on profile

VAULT - File Server

Spoiler

Intel Core i5 11400 w/ Shadow Rock LP, 2x16GB SP GAMING 3200MHz CL16, ASUS PRIME Z590-A, 2x LSI 9211-8i, Fractal Define 7, 256GB Team MP33, 3x 6TB WD Red Pro (general storage), 3x 1TB Seagate Barracuda (dumping ground), 3x 8TB WD White-Label (Plex) (all 3 arrays in their respective Windows Parity storage spaces), Corsair RM750x, Windows 11 Education

Sleeper HP Pavilion A6137C

Spoiler

Intel Core i7 6700K @ 4.4GHz, 4x8GB G.SKILL Ares 1800MHz CL10, ASUS Z170M-E D3, 128GB Team MP33, 1TB Seagate Barracuda, 320GB Samsung Spinpoint (for video capture), MSI GTX 970 100ME, EVGA 650G1, Windows 10 Pro

Mac Mini (Late 2020)

Spoiler

Apple M1, 8GB RAM, 256GB, macOS Sonoma

Consoles: Softmodded 1.4 Xbox w/ 500GB HDD, Xbox 360 Elite 120GB Falcon, XB1X w/2TB MX500, Xbox Series X, PS1 1001, PS2 Slim 70000 w/ FreeMcBoot, PS4 Pro 7015B 1TB (retired), PS5 Digital, Nintendo Switch OLED, Nintendo Wii RVL-001 (black)

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The new page looks like this:

 

12773186083_ca6ccd0980_o.png

Geez they really don't communicate well do they? Could they have said anything less helpful?

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Nah EA is still king at the art of scumbag.

Perspective is something EA haters lack. Mt Gox just cost a lot of people a lot of money by doing this, like thousands to hundreds of thousands. That is far worse than anything EA does.

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Additional DLC required to trade... Buy now for the low price of $120...

EA will say: We are pleased to announce that the new MtGox will be a brilliant trading experience, stay connected to the trading action and intrade transactions.

 

The true meaning: We are happy to tell you guys that the new MtGox will always crash, for a rubbish experience, you will have to leave a window always open to trade and we will charge you for every trade you make!

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How the hell did this conversation turn into an EA-bashing fest? v_v

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How the hell did this conversation turn into an EA-bashing fest? v_v

 

Goxed!

 

The new EAed?

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Well, yeah. Sorry, probably the better question was "Why?" :wacko:

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Perspective is something EA haters lack. Mt Gox just cost a lot of people a lot of money by doing this, like thousands to hundreds of thousands. That is far worse than anything EA does.

Oh I don't "hate" EA, in fact I've made money off of EA's stocks before... Its just a joke... We'll have to wait and see as the situation develops farther.

However there is no denying EA has done a bunch of things their customers will consider scumbaggish, 

Like watching Anime? Consider joining the unofficial LTT Anime Club Heaven Society~ ^.^

 

 

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Perspective is something EA haters lack. Mt Gox just cost a lot of people a lot of money by doing this, like thousands to hundreds of thousands. That is far worse than anything EA does.

.... It could have cost them $35,000,000. 

The leaked report/memo thing said 744,000 BTC. At the price of BTC when that released, that would've been $35M. 

Although it seems like MtGox isn't really closed (based on the new webpage) and may just be transitioning into someone else's hands (the acquisition hint in the code from the old blank page).

† Christian Member †

For my pertinent links to guides, reviews, and anything similar, go here, and look under the spoiler labeled such. A brief history of Unix and it's relation to OS X by Builder.

 

 

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