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Bitcoin - Mt. Gox Ponzi?

J

j&j

Senior member
Initiated a 10K wire back in early June, Gox gives their bs about 2 week delay awhile ago doing a complete overhaul. still 0 cash, mtgox looks like the biggest bitcoin Ponzi we've ever seen.

any recourse to go after them in japan?
 
j&j said:
Initiated a 10K wire back in early June, Gox gives their bs about 2 week delay awhile ago doing a complete overhaul. still 0 cash, mtgox looks like the biggest bitcoin Ponzi we've ever seen.

any recourse to go after them in japan?
Click to expand...

Contact their local Yazuka chapter.
 
Why whatever do you mean? BTC is as legitimate as a Thai hooker's assurances she (he?) doesn't have an STD.
 
Ouch... you actually gave that shady exchange site some real money? I never understood while people do this, given Mt. Gox's horrible track record.

Just buy some mining hardware and mine your own Bitcoin. I never exchanged it for cash, but just bought stuff using Bitcoin instead.
 
You tried investing in an exchange a month after the bitcoin bubble burst AND the Fed froze Mt Gox's ability to do US business but before they were legitimately registered?

cigar_brilliant.jpg
 
I've made thousands off bitcoins and this wasn't the first transaction with Gox, we've made multiple 5 figure transactions and they were/possibly are the most reputable exchange, and by far the largest.

they weren't shady, never acted as such either.
 
j&j said:
I've made thousands off bitcoins and this wasn't the first transaction with Gox, we've made multiple 5 figure transactions and they were/possibly are the most reputable exchange, and by far the largest.

they weren't shady, never acted as such either.
Click to expand...

yeah that's how ponzi scams work. Or confidence man I guess.

Give them a little, they make you some money, give some more and wow we made more! Then give them a lot and it's "see ya later!" runs off with your money. Oldest scam around 😛
 
T9D said:
yeah that's how ponzi scams work. Or confidence man I guess.

Give them a little, they make you some money, give some more and wow we made more! Then give them a lot and it's "see ya later!" runs off with your money. Oldest scam around 😛
Click to expand...

The oldest scam is convincing a tribe to cut off their for-skin so the chief can marry your daughter; then killing them all while they are recovering.
 
j&j said:
I've made thousands off bitcoins and this wasn't the first transaction with Gox, we've made multiple 5 figure transactions and they were/possibly are the most reputable exchange, and by far the largest.

they weren't shady, never acted as such either.
Click to expand...

paper money is...paper.

It's not over yet, but it might take a long time to recover atleast some of your funds.
 
just trading bitcoins like you'd trade a stock, other index, etc. we were withdrawing in under 10K increments to not get flagged by IRS on the incoming transfer. so we made multiple transfers of 9xxx. Plenty went through, then something happened to them all of a sudden, I think the hammer came down somehow and either they can't afford to pay out all of their customers now and or maybe their funds got frozen by some government.
 
j&j said:
we were withdrawing in under 10K increments to not get flagged by IRS on the incoming transfer. so we made multiple transfers of 9xxx. .
Click to expand...

Wow, clever. oh, if you havent already, maybe read 31 USC § 5324 :colbert:

(Structuring transactions to avoid reporting is a federal crime.)
But, maybe you already knew that, and decided that nobody cares about such things and it would be cool to admit it on a public forum.
 
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