[Lab] Mt Gox bitcoin purchase

[Andrew Tarzwell]

Yea, that letter looks fake, but then again, remember how
unprofessional the Snowden docs looked?

On Tue, Feb 25, 2014 at 12:49 PM, Kirk Sutherland
<kirk.sutherland at gmail.com> wrote:
> 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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>>
>
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-- 
Andrew Tarzwell