For the naïve souls who bought bitcoins from Mt. Gox at $1200 in December, they have lost 60% of their money. This assumes that they can get any of it back.
Look at the dollar price for bitcoins on Mt. Gox. Then compare with other exchanges.
As you are aware, the MtGox team has been working hard to address an issue with the way that bitcoin withdrawals are processed. By “bitcoin withdrawal” we are referring to transactions from a MtGox bitcoin wallet to an external bitcoin address. Bitcoin transactions to any MtGox bitcoin address, and currency withdrawals (Yen, Euro, etc) are not affected by this issue.
The problem we have identified is not limited to MtGox, and affects all transactions where Bitcoins are being sent to a third party. We believe that the changes required for addressing this issue will be positive over the long term for the whole community. As a result we took the necessary action of suspending bitcoin withdrawals until this technical issue has been resolved.
The phrase “suspending bitcoin withdrawals” surely caught my attention. How about you?
Brenda Lee said it best, way back when.
(For the full report, click the link.)