Why Bitcoin is Collapsing -- Mt. Gox Sinking, Blockchain Shrinking

Why Bitcoin price is sinking on Mt. Gox. Fixes coming for the ever-expanding block chain problem.

Bitcoin raining down from the Red Star, threatening to destroy all life on our planet, and only an elite squad of fire-breathing US drone fighter aircraft can save us? I agree that this does seem a little hard to believe.





That's a typical Mt. Gox excuse. "We're going to hold onto your money for some vague amount of time for some vague reason." Note that they're only stopping withdrawals from Mt. Gox, not inbound transfers. That's very suspicious. If they'd lost their banking relationship for wire transfers, they couldn't do inbound transfers either. I've mentioned before that Mt. Gox's withdrawal limits are suspicious. They should be able to pay out 100% of funds they hold on short notice. They're not a bank, and are required by the Payment Services Act of Japan to have 100% of the assets entrusted to them. Even more suspicious is that as Bitcoin has grown, Mt. Gox withdrawal limits have become smaller. If you have assets in Mt. Gox, get them out now. There are too many red flags about that business.