Quote from: il--ya on February 11, 2014, 01:59:54 PM

Quote from: mp420 on February 11, 2014, 01:29:22 PM

I expect it to take a while for the reality to sink in and MK to swallow his pride and pay someone to fix/rewrite their custom client.

It's the same thing all over again as it was with the trading engine last year.

I believe the reason they are doing that is because they simply don't have enough coins, and they are trying to win time under a false pretext and force their users to sell bitcoins cheaply (to them). They can then sell those coins somewhere else, and buy more, until they become solvent. No matter how shitty their developers are, they should still be able to fix their bug in some shitty way, which would be enough to restart "normal" operation. Also they could provide manual withdrawal option at a premium - but they don't do that. They simply don't have enough coins.

Quote from: flower1024 on February 10, 2014, 06:08:47 PM

i hope i am wrong.
but i begin to think that they lost so much btc to this issue that they need to buy coins.

seems so..

I don't think the insolvency explanation holds any water. Even if they have less money than their all deposits are worth, they still have huge amounts of BTC and fiat. And there's no way their day-to-day operations would lose money. They're actually still making a lot of money from the trading fees. And they would make even more money if they'd be wise enough to fix their buggy software.

On the other hand, I do not trust their (or actually, Mark's) overall technical or business competence at all.