Topic: Anyone using BitcoinBuilder to buy GoxBTC? - page 2. (Read 3250 times)
Just bought 5goxcoin for 1btc. If something seems to good to be true... You know the rest!
Price today is as low a 0.2btc/goxbtc. The opportunity was too good to pass up so I have gambled some more.
All those people who wanted cheap coins? Here they are.
The question is whether they will be usable or not.
All those people who wanted cheap coins? Here they are.
The question is whether they will be usable or not.
My feeling is that might go up a little now as the panic seller seems to have left.
Bitcoinbuilder works well and the dev Josh is straightforward friendly guy who responds in person to an e-mail (although he's probably getting more than he can handle this week).
Price today is as low a 0.2btc/goxbtc. The opportunity was too good to pass up so I have gambled some more.
All those people who wanted cheap coins? Here they are.
The question is whether they will be usable or not.
All those people who wanted cheap coins? Here they are.
The question is whether they will be usable or not.
The downside risk here is huge. Personally for what amounts to a Bitcoin receivable in default, paying 0.56 BTC per 1 BTC receivable seems horribly overpriced to me. Now under 0.01 BTC and more like 0.001 BTC per 1 BTC receivable, I may take a look at it.
On another note BitcoinBuilder may have run afoul of the SEC in the United States, since MTGoxBTC could really be considered securities in default.
On another note BitcoinBuilder may have run afoul of the SEC in the United States, since MTGoxBTC could really be considered securities in default.
Did so early on when it was roughly 0.36BTC per MtGox BTC. Considering it's now climbed to around 0.5BTC per MtGox BTC, I could exchange what I bought now and remain in front comfortably.
I'm feeling brave, though.
I'm feeling brave, though.
Yes, I was just thinking about this. If you're ok with the risk involved having FauxCoins, then you can arbitrage the shit out of it through Bitcoinbuilder.
Did so early on when it was roughly 0.36BTC per MtGox BTC. Considering it's now climbed to around 0.5BTC per MtGox BTC, I could exchange what I bought now and remain in front comfortably.
I'm feeling brave, though.
I'm feeling brave, though.
Do you have to have a verified Gox account to buy GoxBTC via bitcoinbuilder?
Looks to me like you do not need a Gox account. FAQ says you can hold BTC in their system (Gox acct) until if / when tx is enabled again.
Trusting Bitcoinbuilder to pay up sounds like a bigger gamble to me than trusting Gox to re-enable withdrawals.
I bought some GoxBTC at .5 before Thurs non-announcement. I previously had zero assets at gox, now I have some, and the resulting stress of wondering what the outcome will be. I believe that Gox are solvent, and I haven't seen any conclusive evidence that they are not, though there are some troubling signs.
Do you have to have a verified Gox account to buy GoxBTC via bitcoinbuilder?
Looks to me like you do not need a Gox account. FAQ says you can hold BTC in their system (Gox acct) until if / when tx is enabled again.
Do you have to have a verified Gox account to buy GoxBTC via bitcoinbuilder?
that is what I heard....but man like I looked last nite...for 500 you get like 0.87 btc now from bitstamp
the same amount from mtgox you get over 4 btc
jeez...there has to be a catch on why it is only like 120 usd on gox and 527 or some such on bitstamp
some people know something we others don't and the most likely thing is gox is insolvent and going under
it makes no other sense why everyone just does not SIT and HOLD till gox resumes trading even if it takes 3 months to get coin out!
at 120 usd on gox...everyone is panic selling
just smells like default
imho
of course I'm also tempted to dump 500 usd into them as will thru bitcoin builder before they shut that pathway in
but.....it is more akin to gambling then it is to investing at that point
tempting thou
Searing
ID verification took about 10 minutes.
I have spent 10 btc and I got about 27 gox btc.
It's a gamble, I consider this a risky bet with a high payout.
I have spent 10 btc and I got about 27 gox btc.
It's a gamble, I consider this a risky bet with a high payout.
I can vouch for them as well. Got verified in minutes, and the whole process was as painless as it could get.
It's still a gamble though. Nobody really knows what's going on inside Gox; it's a gamble worth making if you believe Gox coming back is more likely than them declaring bankrupcy any time soon, but understand that there's risk.
It's still a gamble though. Nobody really knows what's going on inside Gox; it's a gamble worth making if you believe Gox coming back is more likely than them declaring bankrupcy any time soon, but understand that there's risk.
I've used bitcoinbuilder and it has been straightforward for me. Even had Josh himself exchange emails with me when I had a question. The only issue is having to wait for the once a day manual btc withdrawals.
Seems to me sort of like a longshot altcoin bet with low odds and possible big payout, the difference being you will know fairly soon if there is any payout...instead watching a chart for a couple months ... i am tempted.
i don't like the fact u need to submit ID docs, tired of that process already with bitstamp, kraken, mtgox, etc etc
Although by no means a determining factor. You would have to worry about the longevity without. They would undoubtedly get caught up in a ML scandal somewhere further down the line.
i don't like the fact u need to submit ID docs, tired of that process already with bitstamp, kraken, mtgox, etc etc
Starting this thread to hear opinions & takes on speculating by using real BTC to buy up Gox BTC via Bitcoin Builder. Anyone doing it? Risk assessment? worst case scenarios? predictions?
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