Post
Topic
Board Currency exchange
Re: MTGOX <-> BTC BID/ASK
by
Ente
on 11/02/2014, 10:31:04 UTC
hahaha goxBTC to BTC exchange ... 10 out of 10 for entertainment value - love the idea joshbb!
.....

But the real reason I'm posting here is this - imagine this hypothetical scenario:

1) someone buys goxBTC for real BTC
2) the seller of goxBTC is later found by MtGox to have cheated them by exploiting the current technical bug (withdrew BTC from Gox but then was reimbursed by Gox for what they thought was a "failed" transaction) and then sold the reimbursed goxBTC to an unsuspecting buyer for real BTC.
3) Gox go through all the customer account balances and delete the non-existent goxBTC from all accounts as part of their current fix

Possible? - Yes!
Probable? - Yes!

Does the buyer loose their acquired fraudulent goxBTC? - possibly!!!

Ouch!
If what MtGox says is true, this scenario is quite likely.
If MtGox is full of shit and the maeelability bug, known since 2011, is not the real reason - good luck with your new, 'cheap' Goxcoins.

The real trainwreck might still come..

Ente