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https://www.trustnodes.com/2018/03/07/mt-gox-trustee-sold-half-billion-dollars-worth-bitcoin-bitcoin-cash "The MT Gox trustee has sold 35,841 BTC for $362 million and 34,008 BCH for $45 million according to reports coming out of a creditors meeting held earlier today. Mark Karpeles, MT Gox’s former CEO, said the sums were “sold between December 2017 and February 2018 with the assistance of a bitcoin exchange.” Little further detail is provided at this stage with a full report by the trustee providing no explanation why the funds were sold or why they were sold at this precise point." Well, this should probably explain a lot of what has been going on in the market for the last months. What a mess. It's like a damn mutating virus that keeps coming back.
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So now that the hoo-ha over the actions of the trustee in the Mt Gox bankruptcy case is upon us, it is perhaps a good time to talk about how blockchain could help establish fiduciary transparency. Sorry, I don't have anything to offer
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This is my opinion based on observation and my own experience having my XRPs on a temporary hold for some time. Hello Ladies and Gents, I'm starting to get very concerned about Poloniex Exchange. I have been trying to get verified so I can transfer more than $2K day. Initially I thought that it was just me, a small delay or an isolated case, or somebody just forgot my file. However it has been 3 weeks and no answer from anyone. About the same time I started the same process with Kraken and with Kraken, I was verified within a week. I have been watching the Poloniex Troll box and I started to see more people with the same verification problem. All people claiming "it has been weeks and no feedback". Strange! I also noticed that the moderators are using canned messages for everyone. In another words they copy and paste the answer. Their goal is to dismiss you as quickly as possible. Yesterday, my XRP wallet got disabled for sometime. I could not withdraw my XRPs and I didn't not try depositing. I'm avoiding to increase my exposure with them. Today, I was watching the Troll box and again and again. I heard the same complaints. I'm starting to think that Poloniex is trying to regulate the crypto flow and it is not in their best interest to let you move your money out of there at once. Imagine if you could sell 4,000,000 XRPs and say Good Bye in one move! OK, ok ALL in name of good security but assume that I pass the first login, 2FA authentication, an email confirmation and my fingerprint. We should be allowed to move our money freely. I'm stuck at moving $2K a day which makes me miss the markets elsewhere. The other thing that is making me nervous is that when I look at Ripple Charts is that Poloniex has 49.45% of market share. I understand that they helped to drive the market up but what if they crash or get hacked? They may say that they are sorry and that they are working on the problem but there isn't a phone number listed, there isn't a name we can call. They are hiding themselves behind an avatar and not being forthcoming to us. If they want to regulate the flow at least be honest about it. I have the same situation with Kraken but they told me up front and I adjusted. So if you are selling XRPs via Poloniex, think how you are going to exit their exchange. Don't do like I did and I learned the hard way and lost the market in one transaction that I couldn't move.. If you are happy with $2K a day then you should be fine. I don't recommend you leave your money there. Be careful, a lot of kids in charge of a lot of money and learning how to become businessmen on the fly on our dimes. Unfortunately, a lot of people will lose their money because of the lack of professionalism these exchanges have.