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This would only work if the coins were still there. If the Gox coins are stolen/lost, then what are you buying? A worhtless claim to coins that don't actually e
by conroe64 13y ago
This would only work if the coins were still there. If the Gox coins are stolen/lost, then what are you buying? A worhtless claim to coins that don't actually exist, and that you can't sell.
- zwily 13y agoThe assumption is that there are still some coins left to bootstrap the scheme.
- conroe64 13y agoEven if there are some coins left, there is nothing to repeat. You sell them, and the plan is over... it doesn't bootstrap anything.
- tlrobinson 13y agoIIRC, Gox was accepting deposits (both bitcoins and fiat) until very recently.
- conroe64 13y agoWho would deposit bitcoin in an exchange where the average price is a fifth of what is was in other exchanges? Fiat deposits wouldn't matter for this plan.
- tlrobinson 13y agoI don't know. Who would leave their bitcoins in an exchange that had been demonstrating withdrawal problems for 6 months?
- panarky 13y agoThere's some evidence that Gox still has some BTC. For example, this address was controlled by Gox in 2011, and it still has 50,000 BTC. https://blockchain.info/zh-cn/address/1P3S1grZYmcqYDuaEDVDYobJ5Fx85E9fE9 https://blockchain.info/zh-cn/address/1P3S1grZYmcqYDuaEDVDYo... Whether they still control the private keys is different question. More discussion and evidence here: http://www.reddit.com/r/Bitcoin/comments/1z30q9/gox_has_at_least_50000_btc/ http://www.reddit.com/r/Bitcoin/comments/1z30q9/gox_has_at_l...