MtGox Resigns From Bitcoin Foundation, Deletes All Tweets From Twitter Feed

Business Insider ^ | 23 February 2014 | Rob Wile

[Errant]

MtGox is resigning from the board of the Bitcoin Foundation as it remains unable to restart full operations after claiming to have been hit by a bug.

They've also deleted all Tweets from their Twitter account.

A person familiar with the situation said it was not clear when MtGox would next update users about its technical problems. "They seem to be struggling with everything," the person said via email. A second person said they did expect the exchange to make an announcement in the coming days.

[Errant]

Price of Btc down all around on the above news.

[Errant]

Click to be Added / Removed.

[Ghost of SVR4]

The scuttlebutt I have heard so far is that gox was running forked code on their exchange that was too far outside being readily able to be fixed for “the bug”. Basically much is awash on gox and it is questionable if they can actually tell what transactions did or did not take place.
Being as this technology is still relatively young still, it should be expected that some will hit the bit basket of history.

[mmichaels1970]

Price of Btc down all around on the above news.

Hopefully a "controlled demolition" of Mt. Gox will limit the shock to the market at large. I certainly hope the subscribers over at Gox are able to get their coins out. Of course, once withdrawals resume (if they do), I think we're in for another downturn as people cash in to cut their losses.

Just did a withdrawal from btc-e to coinbase and it took about 30 seconds. Other exchanges are working well.

[mmichaels1970]

The scuttlebutt I have heard so far is that gox was running forked code on their exchange that was too far outside being readily able to be fixed for “the bug”.

I heard the same thing. From what I gathered Mt. Gox, as one of the first and largest exchanges, was running on code that was much more proprietary to their exchange. While other exchanges are based on a much more standardized code base.

If there is a bug with the bitcoin protocol, the other exchanges are more readily able to incorporate any patches and updates, while Gox would require much more of their own source code rewrites.

[ImJustAnotherOkie]

Interesting, don’t you love tech projects that go live before their time. No doubt they were warned, but disregarded the warnings. It may well have been sabotaged from the beginning.

[oblomov]

What about the price of Magic the Gathering cards? (sarc)