How Bitcoinbuilder and mcxNow can save Mtgox users

V4Vendettas

sr. member

Activity: 294

Merit: 250

Quote from: itsunderstood on February 21, 2014, 11:02:26 PM

Quote from: V4Vendettas on February 21, 2014, 06:07:13 PM

As someone semi trapped in Gox I am really excited about trusting someone else with some more of my coins.
So how would I go about this ? Should I just take my pants off right at the start? Super excited! Grin

I did lol.

But seriously OP, your site looks totally fly and much profits results. Hey, what coins and or fiats can be deposited with you, kind sir who would never steal from us?

yea was mostly just written for a laugh Grin

So sorry OP no offence was intended much etc .

Still I think a lot of people will think long and hard when asked to trust after this Gox scare. I certainly learnt a lesson despite the unknown outcome.

Thanks for the offer and all but I'm going to just ride this Gox storm out and see whats left standing at the end.

Hugs and Kiss's

V4

Rannasha

hero member

Activity: 728

Merit: 500

Quote from: hutcho on February 22, 2014, 03:27:36 AM

Ok, but what about my question? BitcoinBuilder has some kind of arrangement with Gox?

No, BitcoinBuilder is a third-party site where people can exchange GoxBTC for RealBTC. It works on a standard exchange-basis, with bids and asks, so the exchange-rate is set by the market. Since internal transfers between Gox-addresses are still possible, users can deposit their GoxBTC on BitcoinBuilders MtGox account and vice versa, enabling this type of exchange.

mcxNow is completely unrelated. It's an altcoin exchange. You get some interest on your deposit, which is paid for by part of the trade fees collected, but this amount is incredibly low. It's not worth the risk of leaving your coins in an exchange. In addition, the operator of mcxNow has an incredibly dubious track record. While the site functions reasonably well, I wouldn't trust it with my coins any longer than the time needed to make a trade.

hutcho

newbie

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Yeah, I get it.................

Dâniel Fraga

full member

Activity: 190

Merit: 100

Quote from: hutcho on February 22, 2014, 03:27:36 AM

Ok, but what about my question?

If you use Bitcoinbuilder (the site suggested above), yes, you can sell your GOXBTC for BTC with some loss.

hutcho

newbie

Activity: 37

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Ok, but what about my question? BitcoinBuilder has some kind of arrangement with Gox?

Dâniel Fraga

full member

Activity: 190

Merit: 100

Quote from: hutcho on February 22, 2014, 03:13:21 AM

Not that I'm gonna give away Gox BTC for 1/3 of their value, but are you saying that you can get Bitcoins out of Mt.Gox right now?

That's the only way to not being locked into Mtgox. But the decision is yours: wait for Mtgox or follow my suggestion and recover your loss.

It will depend if you believe Mtgox will resume withdraw in a week, month or never.

Dâniel Fraga

full member

Activity: 190

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Quote from: MPOE-PR on February 22, 2014, 02:39:29 AM

There's better ways to waste your life than affiliate spamming for known scams.

There's better ways to waste your life than post false accusations in forums.

hutcho

newbie

Activity: 37

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Not that I'm gonna give away Gox BTC for 1/3 of their value, but are you saying that you can get Bitcoins out of Mt.Gox right now?

MPOE-PR

hero member

Activity: 756

Merit: 522

Quote from: Dâniel Fraga on February 20, 2014, 08:06:04 PM

Here it's a practical suggestion (entirely based on free market) to Mtgox users so they can "withdraw" their bitcoins from Mtgox and recover their losses:

1) use Bitcoin Builder to withdraw your bitcoins from Mtgox with a loss

2) transfer what you get to mcxNow to earn interest from deposit. Just by depositing in mcxNow, you'll be paid interest every 6 hours. Another option is to buy mcxFEE and earn dividends in all cryptocurrencies traded there every 6 hours (each mcxFEE returns 0,001% of all fees paid in mcxNow). Other option is mcxBUX, which is the "virtual" dollar of mcxNow (1 mcxBUX ~= US$ 1). If you think bitcoin price will go down, buy mcxBUX and profit.

3) mcxNow is growing like never before. With a higher volume, everyone will benefit from using it. And off course you can trade and recover faster your losses, but I just want to show an easy way, so everybody don't have to wait until Mtgox returns (if it will really return one day...).

There's better ways to waste your life than affiliate spamming for known scams.

itsunderstood

sr. member

Activity: 364

Merit: 250

American1973

Quote from: V4Vendettas on February 21, 2014, 06:07:13 PM

As someone semi trapped in Gox I am really excited about trusting someone else with some more of my coins.
So how would I go about this ? Should I just take my pants off right at the start? Super excited! Grin

I did lol.

But seriously OP, your site looks totally fly and much profits results. Hey, what coins and or fiats can be deposited with you, kind sir who would never steal from us?

Nagle

legendary

Activity: 1204

Merit: 1002

Quote from: ?? on ??

I'm guessing OP knows many are looking for an exit from MtGox and just wanted to plug his site. If you exit via bitcoinbuilder then you get normal BTC and you can do whatever you feel like with it.

Sounds about right.

If you just want to liquidate BTC, there's Coinbase.

Dâniel Fraga

full member

Activity: 190

Merit: 100

Quote from: ?? on ??

So the interest actually come from somewhere explainable. Interesting.

What's the average daily interest rate at this mcxnow and how does this interest from fees compare with the 0.05%/day BFX currently offers on BTC (that interest comes from traders who borrow your BTC to go short, so it too actually comes from somewhere)?

Btw, I like how that site is apparently "Powered by C++" - you're clearly not joking around (PHP trading engine, wtf are some exchanges thinking)

Yes, being done in C++ is what makes mcxNow so fast. You won't find a faster exchange than mcxNow.

You can see the average interest rate at the Home page. It will change as the volume goes up or down, but you can see an estimative. But mcxFEE is paying more than interest and you can see a mcxFEE chart here:

http://cryptostats.com/mcxnow/mcxfee.php

Dâniel Fraga

full member

Activity: 190

Merit: 100

Quote from: ?? on ??

As for mcxNow.. if something seems to good to be true then it probably is. Where does this "interest" they pay come from? Future depositors?

The interest payment comes from the fees:

Interest calculated as: (YOUR_BALANCE / TOTAL_USER_BALANCE) * 25% of fees. This applies to every currency on the exchange.

https://mcxnow.com/features.html

Dâniel Fraga

full member

Activity: 190

Merit: 100

Quote from: stewart2012 on February 21, 2014, 05:26:02 PM

how can i trust to it ?

You don't need to trust anyone. I'm just showing options to mtgox users. If they decide to use those sites or not, it's a decision of their own Wink

V4Vendettas

sr. member

Activity: 294

Merit: 250

As someone semi trapped in Gox I am really excited about trusting someone else with some more of my coins.
So how would I go about this ? Should I just take my pants off right at the start? Super excited! Grin

bananas

sr. member

Activity: 364

Merit: 257

you cannot

stewart2012

sr. member

Activity: 560

Merit: 255

how can i trust to it ?

Dâniel Fraga

full member

Activity: 190

Merit: 100

Here it's a practical suggestion (entirely based on free market) to Mtgox users so they can "withdraw" their bitcoins from Mtgox and recover their losses:

1) use Bitcoin Builder to withdraw your bitcoins from Mtgox with a loss

2) transfer what you get to mcxNow to earn interest from deposit. Just by depositing in mcxNow, you'll be paid interest every 6 hours. Another option is to buy mcxFEE and earn dividends in all cryptocurrencies traded there every 6 hours (each mcxFEE returns 0,001% of all fees paid in mcxNow). Other option is mcxBUX, which is the "virtual" dollar of mcxNow (1 mcxBUX ~= US$ 1). If you think bitcoin price will go down, buy mcxBUX and profit.

3) mcxNow is growing like never before. With a higher volume, everyone will benefit from using it. And off course you can trade and recover faster your losses, but I just want to show an easy way, so everybody don't have to wait until Mtgox returns (if it will really return one day...).

Topic: How Bitcoinbuilder and mcxNow can save Mtgox users (Read 2369 times)