Here’s Why Bitfinex is Not Like MtGox
Hong Kong’s lack of insolvency protection for companies makes a fate similar to MtGox more likely. Creditors, not Bitfinex, are the ones who get to decide whether to socialize losses. Socialized Losses? Not So Fast. Bitfinex, a bitcoin exchange based in Hong Kong, was hacked last week and suffered a loss of roughly $70M USD. The company appears insolvent....
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This altered photo of Mark Karpeles uploaded by /u/MorXpe on /r/bitcoin shows how some MtGox customers feel right now. A large chunk of the Bitcoin community has been ready to give up on MtGox for more than a few months, but the question still remains as to whether they are insolvent, incompetent, or just bad at public relations. While there is no need for a debate over whether or not this exchange has had problems in the past, there is little proof that Mark Karpeles and the rest of the staff over at MtGox are actually fraudsters. Although MtGox bitcoins are still being sold at a....
MtGox is left playing by themselves. Photo via unicefiran. It's not clear as to whether or not MtGox was expecting others to agree with them on transaction malleability, but yesterday's announcement proved they pretty much have zero friends in the Bitcoin world. After releasing their announcement in the morning, it seemed that every other big player in the Bitcoin space decided to basically take Bitcoin's side over MtGox. After all, MtGox was blaming all of their problems on an issue that has been known about for years, so it's not clear what their true intentions were with their press....
Roger Ver speaking at LeWeb 2013. Photo via LeWeb13. Roger Ver, also known as Bitcoin Jesus, is looking to buy MtGox bitcoins from people who believe the Bitcoin exchange may be insolvent. As reported yesterday, people are already selling their MtGox bitcoins at discounted rates on a new exchange that popped up overnight. Ver made a post on the bitcointalk forum where he stated his interesting in purchasing at least 100 bitcoins from other MtGox users. It's interesting to see this bid of confidence from Ver after so many people in the Bitcoin community have been bashing MtGox for the past....
The partnership between CoinLab and MtGox that had been met with great fanfare when it was first announced at the end of February has now rapidly turned sour, as Coinlab opened a lawsuit against MtGox seeking $75 million in damages. The original plan had been for Coinlab to take over all of MtGox's operations in Canada and the United States, using its business relationships and marketing experience, as well as a local banking presence, to better provide for North American customers while still using MtGox's technical infrastructure and leveraging the company's established brand. The....
It turns out the protesters may have had a real reason to camp outside of MtGox. A variety of sources are starting to report on the state of MtGox's insolvency. CCN's Caleb Chen started to report on today's crisis at MtGox earlier today. Here's what we know so far: It started with this docment leaked by Two Bit Idiot. The document claims to be a contingency plan in the face of MtGox's current outstanding liabilities. Coinbase, Kraken, Circle, and others are releasing a joint statement MtGox's insolvency. Someone has decided to purchase gox.com. It's important to remember that three letter....