Post
Topic
Board Service Discussion
Re: Mt Gox's new office
by
coinage
on 21/02/2014, 12:41:59 UTC
Earlier comments notwithstanding, changing old software can be extremely challenging and time consuming -- and judging from the very minimal history of improvements at gox, they're not particularly adept at redesign (typical for a company which once enjoyed an unassailable position as market leader).

I can only imagine what it feels like for them right now. Endless complaints and accusations from masses of desperate customers unfamiliar with bitcoin's market cycles. Daily inquiries from media. A large backlog of mangled blockchain transactions and the resulting accounting mess. Worries over "investigations" & lawsuits. Fear of making things any worse.

Anyone surrounded by all that noise could well need isolation or a mini-vacation to clear the mind, to become capable of progressing in any useful direction.

We know there was a real technical issue involving distribution of bitcoins. I discount suggestions that they manufactured the crisis. Gox has always been terribly slow to update their platform, which made them vulnerable and makes repairs harder now.

Unless the intense pressure itself forces some sort of collapse, I expect to see their customers begin receiving limited quantities of bitcoins in the weeks ahead. Then the clamoring will begin to open the floodgates and we may get a clearer feel of whether unsurvivable losses of btc occurred.