[Lab] Mt Gox bitcoin purchase

[Kirk Sutherland]

Thanks for the clarity!
I found the document :
http://www.scribd.com/doc/209050732/MtGox-Situation-Crisis-Strategy-Draft
If real it is one of the worst power points I have seen. Who puts an
entire letter in one slide? :)
Also as one of the commenter's points out the document seems to attack
the bitcoin idea itself ie. the "end of bitcoin" comment. A great
document to come out if you want the price to drop!

This has become my soap opera.

On Tue, Feb 25, 2014 at 12:22 PM, Paul & Andrea Mumby
<themumbys at gmail.com> wrote:
> From what I understand (and I agree, it is heavy rumor/hearsay at this
> point) they are referring to balances people held at mtgox (which is
> different than volume).
>
> When you deposit funds and hold it in your account, to facilitate trades.
>
> So even though their volume was say 90k, the collective balances of all
> their users deposits may have been 1M
>
> The implication is that through some kind of security breach (not in bitcoin
> itself, but of the mtgox server infrastructure) 750K of those account
> holdings have gone missing.
>
> This is the equivalent of a bank going down and checking their vault to find
> that 75% of their customer's money is gone.
>
> Again, that is all supposing that this "leak" is legit...
>
>
> On Tue, Feb 25, 2014 at 12:08 PM, Kirk Sutherland
> <kirk.sutherland at gmail.com> wrote:
>>
>> I have been reading the news as this has been happening this morning
>> and I dont' quite understand where this 750k coin loss is coming from.
>> Apparently there is a 'leaked' powerpoint that suggests this number
>> but that is it (but this could have been completely made up). I don't
>> think I have ever seen more than 90k volume listed at Mt Gox, usually
>> it's around 50k. Where is this number coming from?
>>
>> On Tue, Feb 25, 2014 at 11:37 AM, Chris B TBP <tbp at ghostwise.com> wrote:
>> >
>> >
>> > http://www.cbc.ca/news/technology/mt-gox-bitcoin-exchange-website-offline-1.2550256
>> >
>> > Mt. Gox, Bitcoin exchange website, offline
>> > More than 740,000 Bitcoins are allegedly missing from the exchange
>> >
>> >
>> >
>> > On 19-Feb-14, at 10:50 AM, Kirk Sutherland wrote:
>> >
>> >> Good morning!
>> >>
>> >> I was wondering if any of the modlab members have an account with Mt
>> >> Gox that allows for the purchase of bitcoins. I have a verified
>> >> account but I have not purchased through them before. It looks like
>> >> for Canadians the best way is a wire transfer (but it looks like that
>> >> may take a while) or with OKPAY. Does anyone have any experience with
>> >> either of these routes? Were you successful?
>> >>
>> >> Now before anyone says it, yes I am aware you can not currently
>> >> withdraw bitcoins from Mt Gox. I am willing to gamble that they will
>> >> at some point in the near future resume withdrawals and would like to
>> >> take advantage of some crazy low bitcoin prices.
>> >>
>> >> Cheers!
>> >> Kirk
>> >>
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