Posted on 03/22/2014 12:31:38 PM PDT by Errant
Cutting right to the chase: we don't think going short is a good idea yet.
Just when you would think the situation with Mt. Gox couldn't get any stranger, it has. Apparently, the exchange "found" almost BTC 200,000 in one of its old wallets this month. The coins would be currently worth approximately $115 million. A statement published yesterday on the exchanges website reads:
MtGox Co., Ltd. had certain old-format wallets which were used in the past and which, MtGox thought, no longer held any bitcoins. Following the application for commencement of a civil rehabilitation proceeding, these wallets were rescanned and their balance researched. On March 7, 2014, MtGox Co., Ltd. confirmed that an old-format wallet which was used prior to June 2011 held a balance of approximately 200,000 BTC (199,999.99 BTC). MtGox Co., Ltd. investigated the presence of these 200,000 BTC, immediately reported it to its counsels in the application for commencement of a civil rehabilitation proceedings ("counsels"). A hearing took place on March 8 where a detailed explanation of the situation was made to counsels. Immediately on Monday (March 10), counsels reported the existence of the 200,000 BTC to the Court and the Supervisor.
(Excerpt) Read more at marketoracle.co.uk ...
Indeed, thanks for sharing.
Had you heard of Vircurex before?
No, but there are a lot of exchanges, and in many countries. My primary interest is mining and I only follow one or two exchanges to keep up with prices. I should probably do a little trading tho. ;)
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