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I think there's a lot of circumstantial evidence that the transaction that caused the huge spike in Bitcoin Days Destroyed yesterday was caused by Karpeles brin
by jnbiche 13y ago
I think there's a lot of circumstantial evidence that the transaction that caused the huge spike in Bitcoin Days Destroyed yesterday was caused by Karpeles bringing some old coins out of cold storage:
https://blockchain.info/charts/bitcoin-days-destroyed https://blockchain.info/charts/bitcoin-days-destroyed
My guess is that he was finally convinced to do so by the "early adopter" described at the bottom of this post:
http://www.reddit.com/r/Bitcoin/comments/1x9gue/my_protest_at_mtgox_offices_5_to_7th_february/ http://www.reddit.com/r/Bitcoin/comments/1x9gue/my_protest_a...
I'd bet that this early adopter had some information or leverage that forced Karpeles's hand. This balance may be from an old Mt. Gox cold storage address, but it's equally possible that Karpeles is using some of his personal holdings to cover the amount owed for one big customer, or perhaps more.
Furthermore, I actually now believe that Mt. Gox is having technical problems with Bitcoin withdrawals. Their poorly-designed custom Bitcoin node is evidently having problems coping with the newly-mined inputs a lot of people were directing straight into their Mt. Gox account.
Before, I was thinking that people should just write off their Gox holdings, or prepare for a lawsuit if the holdings are big enough, but I now believe that there's a decent chance that people will be able to eventually withdraw their balance in Bitcoins (USD transfers still look impossible for most people).
Finally, a personal note to those with coins stuck at Gox:
Please, even if you are able to eventually recover your coins, and even if future trading opportunities on Mt. Gox are incredibly profitable, please, please don't do any further business at Gox. Gox has been harming the Bitcoin ecosystem since back in 2011, when their incompetence, greed, and contempt for customers first reared its ugly head. Since then, the same problems have repeated themselves, time after time. Please don't go back. Remember this pain.