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I tell you one thing, if I was in control of MtGox I would be buying all these bitcoin's up and making a huge profit when I indeed did fix my problems. Insider
by 97s 13y ago
I tell you one thing, if I was in control of MtGox I would be buying all these bitcoin's up and making a huge profit when I indeed did fix my problems. Insider Trading in Bitcoins is basically happening right now IMO. This seems like a brilliant scheme to not only fix your business public persona by restoring and refunding everyone their money, but also make leaps and bounds of cash.
Crash your own market, buy your coins back knowing your going to restore it. Restore your market, prices come back up, huge profits.
EDIT: unless I misunderstand how all this works. I am assuming public sales coins for lowered value, mtgox insider buys knowing they are going to fix problems, mtgox insider then sells later.
- eloff 13y agoYes, but it's destroying what's left of their reputation. It would be of questionable value in the end. I already wouldn't touch then with a stick after past experiences, and I think most everyone feels that way now. There are better options with real customer service. Coinbase, by comparison, has been a pleasure.
- deleted 13y ago[deleted]
- grey-area 13y agoI tell you one thing, if I was in control of MtGox I would be buying all these bitcoin's up and making a huge profit when I indeed did fix my problems. That mtgox is not in fact doing this (through a buyback program or proxies) tells you a lot about their confidence in their eventual recovery. If they were confident in recovery they could backstop prices and make a killing later by selling.