This Bitcoiner's Protest Saga at Mt. Gox Offices is Compelling Stuff

This Bitcoiner's Protest Saga at Mt. Gox Offices is Compelling StuffThousands of disgruntled Mt. Gox bitocin traders have probably thought of hopping on a plane and flying for hours to confront the operators of the Tokyo-based exchange, which has just announced a halt to all withdrawals.
One bitcoiner has posted on Reddit a lengthy but riveting account of doing just that, traveling from Australia (16-hour flight) to Japan and staging a one-person protest to get answers. This trader wanted to know why his BTC withdrawal was stuck in limbo for a protracted period of time.
“After some hours had passed, the building cleared out and the receptionists left for the night,” writes Reddit member “CoinSearcher”. “I was alone in the lobby. Then at approximately 8 pm, I was suddenly greeted by Gonzague Gay-Bouchery, Manager Business Development, and Mark Karpeles (Mt. Gox chief) right hand man.”
The Reddit post goes on to chronicle some of the answers given CoinSearcher. They reveal a bit more than the statement posted on the Mt. Gox website.
CoinSearcher’s protest took place over the past three days. Here are excerpts:
Q.  What is causing the withdrawal delays?
• Well, because Gox is the best known of all the exchanges, we have been under the regulatory spotlight.
• This has created problems with government agencies, and also with our banking partners.
• There are also some ongoing investigations, which we cannot talk about.
Q.  Sure, and this would explain the FIAT delays, but what about the BTC delays; you can’t blame that on anyone else.
• The BTC withdrawal issue is a technical one, and one that has previously affected the MtGox system, our engineers are working hard to resolve the problem.
• As of now, some BTC withdrawals were going through
• For those transactions that remain broken for a week, the balance of BTC will be returned to a customers MtGox account.
Q. A great way to buy time for a liquidity problem?
• No, it’s a technical issue.
Q. So why are so many of the input addresses feeding into transactions in the queue coming up empty?
• This is a complex technical issue to which neither of us know the answer
Q. Try to explain it to me.
• Its technical
Q. There are over 40,000 BTC in the withdrawal queue, isn’t that the electronic equivalent of a bank run?
• The 40,000 figure is not correct, and the Gox report isn’t accurate.
Q.  People have a lot of money tied up in your exchange, and they don’t believe your excuses. All the evidence suggests something more serious going on at Gox. You are playing with people’s lives here.
• All the coins are safe; this is merely a technical issue.
Read the full post.

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