How to bitfinex. The Gox Crater: Crowd Detectives Reveal Billion-Dollar Heist As Inside Job. Thousands of volunteering and self-organizing detectives have been meticulously laying a puzzle that reveals the Gox billion-dollar heist as an inside job. As smoke clears on the implosion of the Empty Gox bitcoin exchange, thousands of people in the community committed to revealing the truth behind the stonewalling exchange. What was claimed first to be a technical problem, then an outside theft, has been conclusively determined that the MtGox management knew too much, too long ago, to have this be an ordinary case of theft.
There are still many question marks remaining surrounding the missing 744,408 bitcoin at Empty Gox, valued at their peak to just under one billion US dollars, and which are well north of that in replacement value on the open market today. What’s becoming clear, though, is that this wasn’t a theft that properly shut down operations as soon as it was discovered. Instead, Empty Gox and its CEO Mark Karpeles appear to have attempted to benefit and profit from it. MtGox Situation: Crisis Strategy Draft. Business Plan MtGox 2014-2017. Senator Calls For Bitcoin Ban In Letter To Financial Regulators. Bitcoin source code points to 50,000 BTC still in MtGox possession! Greene v MtGox Inc - Mt.Gox Class Action. Bitcoin Ponzi Scam Crash Update - MTGox Vanishing Act, Who Will be Next ?
ConsumerWatch / BitcoinFeb 25, 2014 - 09:03 PM GMT By: Nadeem_Walayat Holders of the Bitcoin fictional currency remain in a state of denial as MtGox, the worlds largest Bitcoin exchange has effectively gone bust after a fortnight of statements that they would soon resume allowing clients to transfer their funds and bitcoins out of 'Magic the Gathering', instead MTGox has disappeared in a puff of smoke with some estimated 750,000 of customer bitcoins that at the current average market price of $500 (illiquid price) would be worth $375 million. Panicking holders of bitcoins visiting the MtGox site were earlier met with an alarming blank page which has now been replaced with the following just as alarming message : Ponzi Scheme ?
A ponzi scheme is designed to hook investors into investing by promising rewards that can never be realised, where early investors receive pay outs from new investors. Are Bitcoins a Ponzi Scam ? Here's what I warned near 3 months ago : Mainstream Press Culpability? Mt. Gox Subpoenaed By Federal Prosecutors in New York - newsBTC.
The drama continues to unfold when it comes to Tokyo-based Mt. Gox. The Wall Street Journal is reporting that federal prosecutors in the state of New York have subpoenaed Mt. Gox. The news comes from an individual familiar with the matter, according to WSJ. The subpoena was reportedly sent to the exchange this month, and mandated the preservation of documents and other items not described. This evening we learned that Jon Fisher, a consultant, interviewed Gox CEO Mark Karpeles, in which he confirmed a crisis strategy report was “more or less” legitimate. It’s unclear just how Gox will respond to the subpoena, but this story is getting increasingly coiled by the day.
Updated 10:40PM ET, 25 February 2013: Reuters is reporting that authorities in Japan are also looking into the exchange after it abruptly went offline on Monday evening, according to what has been described as a “top government spokesperson”. More developments as they come. Mt. Gox’s Demise Marks The End of Bitcoin’s First Wave Of Entrepreneurs. When I started looking into the Bitcoin startup ecosystem in early 2013, there was something that was just off about half of the founders I met. “I consider myself psychologically unemployable,” BitInstant CEO Charlie Shrem told me in a phone interview last year.
He described how he built BitInstant with an autistic Welsh hacker named Gareth Nelson whom he had never met in real-life. The call was full of bizarre clicking noises. Shrem kept getting distracted and he exuded a certain paranoia. “You can’t trust anyone. Then when I met Mt. “Even if we say something we believe and it’s the truth or we’re being honest, it could be misinterpreted,” Karpeles told me at the time. Unfortunately, I didn’t get any answers, but Karpeles handed me a stack of Mt. Then one by one, they fell. Last month, Shrem was arrested at New York’s John F. While Bitcoin has had a long and volatile history given numerous thefts and scams, Mt. “I couldn’t believe what I was hearing.
So is Mt. U.S. The Two-Bit Idiot — Motives, Disclosures & Suspicions: Mt. Gox Update. Alpha Technology Takes Pre-Orders for Litecoin ASIC Miners. Alpha Technology, the British company who announced in November it would be one of the first to bring ASIC mining devices for litecoin and similar cryptocurrencies to market in 2014, this week announced it would begin taking pre-orders for 30% deposits. Customers may now register their interest on the website. There will be two devices available, both employing stacked Viper Boards: one 5MH/s device for £1,350 (about $2,225) and a 25MH/s device for £5,450 (about $8,980), plus VAT for UK customers. Alpha Technology said both the hashing rates and delivery times quoted were deliberately conservative estimates, and actual shipping should be well underway by Q2-Q3 of 2014.
The prices quoted on the product page are the deposit amounts. The machines are standalone, with no need for a host PC. Different needs While all serious bitcoin mining these days is performed with specially-designed ASIC and FPGA-based chipsets, such technology has eluded other currencies using the scrypt algorithm so far.