How will market react when MtGox reopens trade? - page 3.

Wuji

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Quote

I didn't say they could immediately buy on any exchange. Any person with sense would be transferring their money to another exchange and only put buys in at $88 on Mt. Gox. A transfer usually takes me around an hour or so.

Quote

Prove it, go transfer your fund to other exchange and see for yourself

I moved my money out of Mt. Gox last night but, thanks anyway.

Severian

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Cheap bitcoins tomorrow! Maybe even cheaper the next day!

Yay!

antimattercrusader

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Quote from: Minor Miner on April 11, 2013, 12:35:45 PM

Quote from: Wuji on April 11, 2013, 12:34:01 PM

Quote

You mean flash crash and then immediately back to +$200? Or you are saying that those who sold at 160btc will be queing up to buy like crazy at $123.40 (Gox last price)?

Why would anyone queue to buy at $123.40 when they can buy at $88 right now on another exchange?

No they CANNOT. Explain to me how I can buy 10,000 USD of bitcoin RIGHT NOW on any other exchange? You would have to have an account open with them AND have USD sitting in that account.

+1 If I could quickly get money anywhere selling, especially BTC-E etc, I would be on that like a fat kid on a cup cake.

Minor Miner

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Quote from: Nemesis on April 11, 2013, 12:43:48 PM

Quote from: Wuji on April 11, 2013, 12:39:45 PM

Quote from: Minor Miner on April 11, 2013, 12:35:45 PM

Quote from: Wuji on April 11, 2013, 12:34:01 PM

Quote

You mean flash crash and then immediately back to +$200? Or you are saying that those who sold at 160btc will be queing up to buy like crazy at $123.40 (Gox last price)?

Why would anyone queue to buy at $123.40 when they can buy at $88 right now on another exchange?

No they CANNOT. Explain to me how I can buy 10,000 USD of bitcoin RIGHT NOW on any other exchange? You would have to have an account open with them AND have USD sitting in that account.

I didn't say they could immediately buy on any exchange. Any person with sense would be transferring their money to another exchange and only put buys in at $88 on Mt. Gox. A transfer usually takes me around an hour or so.

Prove it, go transfer your fund to other exchange and see for yourself

Does anyone want to bet on the UNDER for Mt Gox at $88 VWAP for some period tomorrow?

Nemesis

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Quote from: Wuji on April 11, 2013, 12:39:45 PM

Quote from: Minor Miner on April 11, 2013, 12:35:45 PM

Quote from: Wuji on April 11, 2013, 12:34:01 PM

Quote

You mean flash crash and then immediately back to +$200? Or you are saying that those who sold at 160btc will be queing up to buy like crazy at $123.40 (Gox last price)?

Why would anyone queue to buy at $123.40 when they can buy at $88 right now on another exchange?

No they CANNOT. Explain to me how I can buy 10,000 USD of bitcoin RIGHT NOW on any other exchange? You would have to have an account open with them AND have USD sitting in that account.

I didn't say they could immediately buy on any exchange. Any person with sense would be transferring their money to another exchange and only put buys in at $88 on Mt. Gox. A transfer usually takes me around an hour or so.

Prove it, go transfer your fund to other exchange and see for yourself

Alonzo Ewing

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Price discovery is occurring on the other exchanges. I just logged on to Bitfloor. It's humming along on heavy volume. The order book is deeper than I've ever seen it. The price there is $92.99.

When Gox re-opens, my guess is the price will drop to match the other exchanges.

Wuji

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Quote from: Nemesis on April 11, 2013, 12:39:31 PM

Quote from: Wuji on April 11, 2013, 12:34:01 PM

Quote

You mean flash crash and then immediately back to +$200? Or you are saying that those who sold at 160btc will be queing up to buy like crazy at $123.40 (Gox last price)?

Why would anyone queue to buy at $123.40 when they can buy at $88 right now on another exchange?

wow... speechless Roll Eyes

The exchange hold the biggest fiat fund is the one that decide the price idiot.

If you think people aren't going to be trying to get their funds out of Mt. Gox instead of buying more coin at overvalued prices then I think you are the idiot. Every prediction I've made so far has come true. I sold Tuesday night at 1600% and announced it in my first thread Wed. morning before the crash.

alexh

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Guess lots of people will get rid of their coins - otherwise others will buy all up.

dbanga85

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Quote from: yokosan on April 11, 2013, 12:30:29 PM

It's going down obviously.

1. The people that were buying are now selling.
2. The people that are holding aren't doing anything.
3. People are cashing out, and by that I mean selling and withdrawing the fiat straight to their bank accounts.

From the moment Gox opens the trend is downwards. It's just going to create more panic, more fear, and ultimately lead to a drop to <$50 maybe even <$30.

Let's just add in to the mix the possibility of something else going horribly wrong, oh I don't know lets just say one of the other exchanges got hacked as is a common occurrence in Bitcoins history. With the right variables we could even go <$10.

its obvious with that grim outlook you're desperately trying to get back in the game I assume.. Good luck with that prediction

Minor Miner

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Quote from: zarl on April 11, 2013, 12:38:52 PM

is it possible to somehow transfer $ from gox account , to other exchange right now ?

no

Wuji

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Quote from: Minor Miner on April 11, 2013, 12:35:45 PM

Quote from: Wuji on April 11, 2013, 12:34:01 PM

Quote

You mean flash crash and then immediately back to +$200? Or you are saying that those who sold at 160btc will be queing up to buy like crazy at $123.40 (Gox last price)?

Why would anyone queue to buy at $123.40 when they can buy at $88 right now on another exchange?

No they CANNOT. Explain to me how I can buy 10,000 USD of bitcoin RIGHT NOW on any other exchange? You would have to have an account open with them AND have USD sitting in that account.

I didn't say they could immediately buy on any exchange. Any person with sense would be transferring their money to another exchange and only put buys in at $88 on Mt. Gox. A transfer usually takes me around an hour or so.

Nemesis

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Quote from: Wuji on April 11, 2013, 12:34:01 PM

Quote

You mean flash crash and then immediately back to +$200? Or you are saying that those who sold at 160btc will be queing up to buy like crazy at $123.40 (Gox last price)?

Why would anyone queue to buy at $123.40 when they can buy at $88 right now on another exchange?

wow... speechless Roll Eyes

The exchange hold the biggest fiat fund is the one that decide the price idiot.

zarl

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is it possible to somehow transfer $ from gox account , to other exchange right now ?

mobile4ever

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Quote from: Wuji on April 11, 2013, 12:31:41 PM

The majority will rush to get their money out of Mt. Gox and flood other exchanges causing them issues. Mt. Gox will probably still have too much load and continue to lag and crash.

The sell off will continue down to the $30-$50 range and take months or over a year to ever get close to $100 again.

That is an interesting prediction, I will have to keep tabs on it.

Nemesis

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Quote from: Rampion on April 11, 2013, 12:31:54 PM

Quote from: Nemesis on April 11, 2013, 12:28:31 PM

Quote from: Nikolaj06 on April 11, 2013, 12:23:32 PM

Quote from: Nemesis on April 11, 2013, 12:18:19 PM

Quote from: Rampion on April 11, 2013, 12:15:43 PM

IMO situation is quite clear at the moment: very easy to move coins from exchange to exchange, not so easy to prompt move fiat, therefore price is likely to go down while Gox is closed.

How do you think the market react when Gox opens again?

Super deep flash crash and then recovery?
Bear market with long and continued decline like in 2011?
Fast recovery?
Where are you seeing support and resistance short and mid term?

Place your bets gentlemen.

Simple. MtGox will prove itself why its the leading exchange. It hold the largest (by far margin) fiat pool.
Coins from other exchange will pour in and increase MtGox trade volume to record high.

Other exchange? shoot themself in the head.

You said this in the Wall observer thread as well, however I'm not sure if you're saying that the price will drop or increase. I only hear talks about volume, and it's obvious that the volume will reach record high, especially with the 48 hours of no fee.. I'm wondering íf Gox can even handle the amount of trades that will cause..

Guess where those fiats are from selling btc at 200? 160?....

You mean flash crash and then immediately back to +$200? Or you are saying that those who sold at 160btc will be queing up to buy like crazy at $123.40 (Gox last price)?

Supply and demand. Its not easy to send fund into exchange that has volume to buy. (I'm talking large fund).

I find its idiotic to speculate on the price based on other exchanges' price. Look at what Gox's crash done to other exchanges. What make you think its the other way around now.

Minor Miner

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Quote from: Wuji on April 11, 2013, 12:34:01 PM

Quote

You mean flash crash and then immediately back to +$200? Or you are saying that those who sold at 160btc will be queing up to buy like crazy at $123.40 (Gox last price)?

Why would anyone queue to buy at $123.40 when they can buy at $88 right now on another exchange?

No they CANNOT. Explain to me how I can buy 10,000 USD of bitcoin RIGHT NOW on any other exchange? You would have to have an account open with them AND have USD sitting in that account.

Wuji

newbie

Activity: 56

Merit: 0

Quote

You mean flash crash and then immediately back to +$200? Or you are saying that those who sold at 160btc will be queing up to buy like crazy at $123.40 (Gox last price)?

Why would anyone queue to buy at $123.40 when they can buy at $88 right now on another exchange?

Minor Miner

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Quote from: yokosan on April 11, 2013, 12:30:29 PM

It's going down obviously.

1. The people that were buying are now selling.
2. The people that are holding aren't doing anything.
3. People are cashing out, and by that I mean selling and withdrawing the fiat straight to their bank accounts.

From the moment Gox opens the trend is downwards. It's just going to create more panic, more fear, and ultimately lead to a drop to <$50 maybe even <$30.

Would you like to make a bet on it? Can anyone craft a bet for the over/under of the price at say 4PM Eastern time tomorrow?

Rampion

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Quote from: Nemesis on April 11, 2013, 12:28:31 PM

Quote from: Nikolaj06 on April 11, 2013, 12:23:32 PM

Quote from: Nemesis on April 11, 2013, 12:18:19 PM

Quote from: Rampion on April 11, 2013, 12:15:43 PM

IMO situation is quite clear at the moment: very easy to move coins from exchange to exchange, not so easy to prompt move fiat, therefore price is likely to go down while Gox is closed.

How do you think the market react when Gox opens again?

Super deep flash crash and then recovery?
Bear market with long and continued decline like in 2011?
Fast recovery?
Where are you seeing support and resistance short and mid term?

Place your bets gentlemen.

Simple. MtGox will prove itself why its the leading exchange. It hold the largest (by far margin) fiat pool.
Coins from other exchange will pour in and increase MtGox trade volume to record high.

Other exchange? shoot themself in the head.

You said this in the Wall observer thread as well, however I'm not sure if you're saying that the price will drop or increase. I only hear talks about volume, and it's obvious that the volume will reach record high, especially with the 48 hours of no fee.. I'm wondering íf Gox can even handle the amount of trades that will cause..

Guess where those fiats are from selling btc at 200? 160?....

You mean flash crash and then immediately back to +$200? Or you are saying that those who sold at $160 will be queing up to buy like crazy at $123.40 (Gox last price)?

Wuji

newbie

Activity: 56

Merit: 0

The majority will rush to get their money out of Mt. Gox and flood other exchanges causing them issues. Mt. Gox will probably still have too much load and continue to lag and crash.

The sell off will continue down to the $30-$50 range and take months or over a year to ever get close to $100 again.

Topic: How will market react when MtGox reopens trade? - page 3. (Read 8747 times)