Backstory: Recently, one of the largest Bitcoin exchanges said they weren't letting people withdraw Bitcoins due to technical issues (a process called "transaction malleability," which I can't really explain but has been known for awhile). This caused much consternation and a precipitous drop in the value of BTCs. This exchange also released a statement blaming Greg Maxwell, one of the original Bitcoin developers for the "technical issues" they were having.

This has caused much drama.

Keep calm, transaction malleability is not double spending. One of the big "selling points" of Bitcoin is that you can't double spend. As the name suggests, double spending is when you spend the same money twice. It's bad for business and good for thieves.

So Gox decided to take the Bitcoin ship down with them blaming their shortcomings on well known and documented protocol limitations. Shame!

so gox can buy cheat coins to make up for the loss.

That's right, folks, this exchange is crippling their business and reputation...so they can sink the cost of Bitcoins so they can buy them more on the cheap.

Mt Gox's incompetence once again puts BTC on sale? I'm not complaining.

Yep, my buttcoins just dropped in value 20%, but IDGAF because I'm gonna buy more.

You make it sound a lot less apocalyptic than the MT Gox press release did. To the top with you!

TO THE MOON!

Wow, fuck Mt Gox

They just purposefully spread FUD throughout the bitcoin world for the sole purpose of diverting attention while they fix their shit. This transaction malleability thing has been known for a long time and has plenty of easy ways to work around it, like just look and see if there's a double spend attempt on outputs before auto-crediting your internal books. The fact that Gox's shitty coding didn't do that is entirely their fault, and instead of owning up to it, they're trying to cause an earthquake of FUD to divert attention and buy themselves time. That's not just sneaky, that's truly evil. Fuck them. Fuck them so much.

/rant

FUCK THEM THIS PR MOVE IS LITERALLY EVIL. Now, I tend to save concepts of "good" and "evil" for actions that have a considerable moral weight, like when some piece of shit steals my parking spot, but this takes the cake. I speculated invested in a volatile commodity and my speculation investment has tanked, so I'm totes raging about it on Reddit.

Tin foil hat time.

What if a bunch of BTC got stolen and MtGox knows this. So they make FUD that blames bitcoin protocol knowing it will crash the price. They then take USD and buy up cheap bitcoin to cover the BTC that got stolen. What if this new USD will actually drive the price to new HIGHS!

What the hell. I couldn't even satirize this properly. (TO THE MOON)

What the f$#% is the BTC Foundation doing? Kick Mark Kerpopples off the board. Mark Karpeles is the CEO of Mt. Gox.

If your going to claim to be the representative entity for Bitcoin then act like it. Otherwise you are just as big of a joke as that incompitent twit Mr Krabapple bouncing around on his blue ball. I mean, Jesus H. tap dancing on a crispy truiscuit Christ, do something, anything, or gtfo.

*Edit: Help us Obi-Wan Antonopoulos, you're our only hope.

He's literally tanking Bitcoin! Let's take a rash action in response to a rash action!

Karppoopels is on the BTC foundation board? fuuuuuuck thats bad.

Karppoopels. Heh.

Anyone else from The Bitcoin Foundation want to shit on Bitcoin some with more negative PR?. Drugs, money laundering, "bugs"…c'mon guys…gun running could be next? or something worse?????. I'm sure you've got plenty more from where Shrem and Krapeles came from.

Krapeles. Lmao!

Oh, btw, turns out that you should do a little background check on anyone you're doing business with before you do business with him.

Andreas: Unanticipated bugs don’t come with year-old wiki pages fully documenting them. Gox is full of shit. Some guy tweets a thing.

Andreas keeping it real, as always.

Bravo, sir!

And:

I fucking love Andreas.

And now to the conspiracy:

Perfectly timed manipulation on the part of MTGox, this news comes as the 3 day MACD happens, (exponential average crosses the average bitcoin price), it hadn't crossed since early 2013, so big movement was to be expected.

You can see it on the 3day chart on bitcoinwisdom, the blue line and brown line crossing, this is a BIG sign for automated trading bots to make a move, in this case the exponential average (indicating the latest movement trend) went below the average, this means the trend is downwards.

So MTgox preps up their sells, sets a weekend climate of "some big news is about to come out on monday, everyone keep an eye on your coins"

Then DROPS the bad news, and BOOM goes the dynamite. we have an epic crash.

Meanwhile MTgox sets up its orders on BTC-E around 200.

Yep, makes perfect sense. Destroying your credibility as a business so you can get them sweet, sweet Bitcoins.

MtGox - Your new cold storage solution

Setup:

>Create MtGox account
>Enable 2FA
>Send BTC to MtGox

And you are finished, no one will able to get to your coins, they are perfectly safe. /s

Haha, get it, because you can't withdraw your coins? And this is front page material.

At this point you can even call it cryogenic storage

So cold it's frozen.

Ho-ho, such wit, much funny.

The Bitcoin Foundation, Coinbase, Bitstamp and Blockchain.info need to issue a statement debunking Gox's "bitcoin bug" argument

Most people trust MtGox. It's the oldest exchange, was the most mentioned in the media. Their press release is pure bullshit but it's a subject that's way too technical anyway for most people to grasp. We need other big players to step up and reassure people, or this could be the death of Bitcoin.

And what will happen now?

Go on, sell your bitcoin, and bang your head into the wall when the price goes back up.

In the mean time, I'm enjoying the cheap coins.

Hmmm. If one were a Gox insider, today would've been a good day to buy bitcoins. Either for a personal account or for the company's, in order to cover past fuckups.

Are you concerned about the price of your holdings? I appreciate that we just got cheap coins.

Plus the general hatejerk:

How I look forward to the day bitcoin won't be goxed anymore.

Even those outside of gox managed to get goxxed today.

Gox has done the greatest service & disservice to Bitcoin.

Sounds like Mark is trying to raise more fear. He needs to step down from the Bitcoin Foundation.

I guess most of the other players fear legal problems if they say anything bad about Gox...

And the final jerk:

I'm fed up with Gox's incompetence and purposely damaging language to the Bitcoin community: I'm saying it here, I'm willing to invest $50,000 in a legit U.S. in exchange for 5% of the business. Somebody get ahold of me!

This press release from Gox was incredibly shady and deceitful. The majority of Bitcoin market crashes are because of them. We need to step up. I'm willing to step up. Get ahold of me on here!

I'm willing to invest $50,000 in a LEGIT U.S. Bitcoin exchange for 5% of the business.

We can't stand for this, people. We can't let lies like this affect the Bitcoin community this much