Topic: If there was no Mtgox ... ? (Read 1895 times)

I think that the price today without MTgox would be $2-$120 range.

the willy bot made all the speculators jump in and send it to $1000. Since then slowly those that bought in at high prices have sold off at losses and got out. hence the price going down to $200-$300 where it is being held by a few big market players.

it would go a lot lower if they did not intervene every time it goes below $200.

I think the longer term is still good for bitcoin and while I see buying more bitcoins at $200-$300 is currently overpriced I see the price going up about 2.2 times per annum since the $2 bottom so in a year or two the price might well be more "naturally" in the $200-$300 range so longer term holders will do well. (assuming we do not have another crash to about $60 which is what I see is todays equivalent to the $2 bottom - if that happens in may be some years before we get back to $200-$300.

AS another poster said bitcoins big selling point is that it is "sound money". That takes several steps of understanding for the average person to get that as fiat (and for protection gold) work well for them. I read recently an article that listed uber, airb&B and bitcoin all together as "disruptive' technologies.

But that is misleading in a way as the first two are at their heart cheaper alternatives ( taxis and hotel rooms) so they are easily grasped by people and have taken off. Seeing the need to get some "sound money" is much more complex. It is sort of "insurance' in case the system starts to collapse. But you need to know how easily the system can collapse to be motivated enough to get some of your savings into bitcoin.

Its a long road but time is on bitcoins side - gold was not rushed to get where it is

 
 

Mt. Gox might have had their situation, but the loss in reputation is not that bad. The price might be about 30 USD higher or something around that ballpark

As much as Mt. Gox has helped Bitcoin with being the first early exchange and then later with the alleged willy bot, it has also pulled us down with the hack, bad news reports and bad reputation that still follows us.

I would say that at the end it all balanced itself, minus this bad reputation that really hunts us, even today and it will hunt us in the future as well. So I would say the Bitcoin price would be a bit higher if it wasn't for the Mt. Gox.

MtGox played a very minor role in the price run up to $1200 in late 2013. It was China that drove up the price. While btc price was rising in the other exchanges, MtGox price was plunging. Months prior, MtGox had not been sending OUT money to its customers. It was evident to intelligent people that they were becoming insolvent and was dying.

MtGox did NOT cause the last ATH. The last ATH caused the death of MtGox.

If there was no mt gox I'm sure we would have moved closer towards mainstream adoption compared to its current state right now. As far as i can see, the loss of trust and reputation from the scandal actually affected the community badly

exactly..

Very correct. It was a business like the others. With the specifique that has cheated with the money of the customers. And has the CEO in the prison for this.

If there was no Mtgox ... ?...


then there would be another exchange that would have done something similar.

If not for MtGox, there would have been other exchanges which would have developed.
MtGox had the first mover advantage and made full use of it (before they screwed up).

233.17 for today.

MTgox was crucial in the early stages of bitcoin. It was one of the only ways to buy bitcoins at low risk. Don't forget that. Ofcourse they fucked up, but they were very very crucial.

MTgox was a simple thing and was hacked last year but the price keeps to sustain now mtgox its needed and other regulators

It was a fake price not a real one. Fact is that this price go down with the end of MtGox. If it was real was no reason to goes down. But don 't worry. Will go high again. Maybe not soon but will go high one day...

Ok. I had not the right data. Your story is true but serve only for the history. Because behind all the construction of MtGox as a bitcoin business was Karpeles. He build this empire and he lead it until the last day. So pratically MtGox was Karpeles.

At least bitcoin price get help because mtgox. Im not sure bitcoin price can up to $200 like now, we must say thanks to mtgox

Karples didn't found MtGox, Jed McCaleb of Stellar founded it. He sold it to Karples shortly after founding it when he realized he was out of his depth. McCaleb first registered the domain name MtGox.com because he wanted to start an exchange for Magic the Gathering game cards. MtGox stands for Magic the Gathering online exchange. However, he gave up on the Magic the Gathering online exchange idea, and used the domain name to start a Bitcoin exchange instead.

Don't forget that the founder and the boss of MtGox was arrested for fraud. Can be such person so important to create a subject with vital role in one direction (whatever will be that direction)?

Gox fulfilled a vital role once upon a time. It was the only game in town for a long while. Perhaps Bitcoin wouldn't be anywhere without it. There's no way to know. If only they'd been competent they could've conquered the world.

Question : Re: If there was no Mtgox ... ?
Answer : I have bought Gold Bar ... instead of Bitcoin.





  ... thing ... alien ... humanity ... decision.

According to the willy report it was MtGox that pumped the price to its ATH, but it crashed the price when it announced it was bankrupt. However, it as the first exchange that had volume, and without it Bitcoin might never have become popular. Before it there weren't many Bitcoin users, but after it started the numbers of Bitcoin users increased exponentially. Maybe another exchange would have made Bitcoin popular if MtGox had never existed, or maybe not.

without mtgox i think the bitcoin price would rise slowly but stable every year. maybe we would now sit at around $150-$200 if mtgox wasn't here. 

That's a tough call.  Gox had both positive and negative influence on the USD price.

At a guess (and only a guess), I'd say it would be somewhere like where it is now, or maybe a little higher if peoples confidence hadn't been shaken, though that would have to account for the media attention that Gox had in influencing price rise, so it's not something I have the ability to reverse engineer.  Maybe some smarter folks could weight those influences.

Without MtGox, much less people would posses Bitcoin today and would be much less used. Maybe Bitcoin would never reach even $100 by now.

Some tell the was Mt Gox that was one of the principal factors (if not the only) that has contributed in the increase of the price of bitcoin. I don't be sure about this because I am unable to judge this thing. But for sure MtGox was one of factors that has reduced to much the enthusiasm of to many versus bitcoin. And not only the enthusiasm but even the price.

But i think the MtGox mean less bitcoin in the market, meybe i'm wrong, but they was the guys who bump it, and after the MtGox, bitcoin lost a lot of investors and trust for the society.

However if there is not Mtgox, which got hundreds of thousands of bitcoins stolen (and probably got dumped by hackers), the price would be at 500 now (as bitcoin would be pumped on other exchanges).
I think that Mtgox is still a bad history for bitcoin.

The pump to 1200 was bitcoin hitting the media and and emotional frenzie.  The idea gox pumped it there is hilarious. Highschooler were buying, people in their 30's that couldn't turn a computer on.

The rise to 1200 was the dagger into Gox's ability to control the market.

probably not less than 60-90, which was the price before the big pump started, but i believe we are in the same range to which we would arrive anyway, mtxgox or not

i would like to picture the whole mtgox drama as the "90-1200-230" ranges...

10$ maybe?
Becouse Mtgox artificially pumped Bitcoin not once, but all of it's lifetime!
And if there was no Mtgox, then the other exchanges didn't take care of the security measures as they do nowadays. And soon or later it would happen the same or worst scenario.

This is my opinion, considering that Mtgox stealed me a dozen of btc...

What do you think Bitcoin price would be if there was no Mtgox ? without taking in consideration that Bitcoin price was pumped by Willybot or whatever his name is .
I personally think that the price would be higher then now because Mtgox was probably one of the reasons that people either left Bitcoin or simply didn't join on the first place since they see it now as a risk .