Mt. Gox - To resume withdrawals Feb 20th - New ATH approaching - page 3.

windjc

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Quote from: chesthing on February 19, 2014, 01:23:20 AM

Quote from: dynodog on February 18, 2014, 05:04:31 PM

It would take a lot of balls to continue accepting cash deposits for people to buy bitcoin only to come out later and say "Ooops, we're broke - me so sorry."

Or a complete lack of ethics.

What he is saying is that it would take a lot of balls because its illegal. It is illegal to continue trading operations if you are insolvent. Which means, if Gox is insolvent, Mark is probably going to jail.

The fact that Mark said Gox has been in touch with authorities and they have been told they are operating within the law means that I am betting they are not insolvent. Mark is in Japan, not Ecuador. Not so easy to hide.

chesthing

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Quote from: dynodog on February 18, 2014, 05:04:31 PM

It would take a lot of balls to continue accepting cash deposits for people to buy bitcoin only to come out later and say "Ooops, we're broke - me so sorry."

Or a complete lack of ethics.

windjc

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Quote from: Ibian on February 18, 2014, 10:16:34 PM

Quote from: sgbett on February 18, 2014, 05:06:19 PM

Quote from: dynodog on February 18, 2014, 05:04:31 PM

It would take a lot of balls to continue accepting cash deposits for people to buy bitcoin only to come out later and say "Ooops, we're broke - me so sorry."

I agree. Still braced for it though

How do you figure your odds of getting either kind of money out of gox are like?

The only way MtGox is insolvent is if
A. They have had a lot more bitcoin stolen than has ever been reported.
B. They have had a lot larger operational overhead than has ever been reported.
C. They have had internal embezzlement of funds.

On the other hand, if they have had anywhere close to the expenditures and losses as have been reported, then they are flush with bitcoin and cash.

So basically the probabilities of what you are asked are weighed between the options above vs. sheer and utter incompetence in management, customer service and PR.

TERA

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Quote from: Le Happy Merchant on February 18, 2014, 07:10:54 PM

Quote from: biafore on February 17, 2014, 09:22:23 AM

Quote from: TERA on February 17, 2014, 09:16:02 AM

What does this have to do with an ATH?

If you cant figure this out, you have no place in bitcoin trading.

Honestly, yes.

Another one without any explanation?

Ibian

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Quote from: sgbett on February 18, 2014, 05:06:19 PM

Quote from: dynodog on February 18, 2014, 05:04:31 PM

It would take a lot of balls to continue accepting cash deposits for people to buy bitcoin only to come out later and say "Ooops, we're broke - me so sorry."

I agree. Still braced for it though

How do you figure your odds of getting either kind of money out of gox are like?

Beta-coiner1

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I can see the price being massively inflated as all the people who sold for fiat will now have to get BTC again in order to withdraw from Gox.

MatTheCat

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Quote from: Dalmar on February 17, 2014, 09:51:08 PM

biafore sounds like a +1k bag holder.

LOL Yeah. When Bull-tards start yelling shit like 'traitor' or 'non-believer' at those of us smart enough to have covered our arses and took our swag off the table, something is definitely up that is to the great displeasure of the bull-tard, but they are incapable of admitting to themselves that they are buying into the wrong paradigm at this point in time....and its costing them. Instead, they prefer to point fingers and blame everyone else for their own misfortune/stupidity.

Quote from: Dalmar on February 17, 2014, 10:22:23 PM

News flash: You can actually make money while bitcoin is dropping in price. Roll Eyes

If you trust trading on the only short sell exchanges, Bitfinex or BTC-E, and I know that I sure as hell don't.

Quote from: sgbett on February 18, 2014, 10:17:38 AM

money has finally reached gox account - picked up a few coins at €220. left a bit lying around in case we go further down... now we wait.

€220! So around $300? Seems to be top of the market on Gox for the time being but a pretty good trade if you can actually get them off the place. If you succeed, then u know you got to arbitrage these coins though don't you? Otherwise you may end up taking this risk for no good reason if the bear market progresses to grind its way further down (which I am sure it will give or take the odd bit of whipsawing action). If more Bitcoin is your aim, then you know that if you sell at $630 or whatever, you will get the chance to buy back on the next test of $540......whether this support holds or falls is another matter but it there is absolutely nothing in the charts that suggests that it won't be revisited.

darkmule

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Quote from: glendall on February 18, 2014, 04:15:03 PM

I wish people would stop using Gox. They have contributed more to price crashes than any other single thing in the entire world of bitcoin.

No shit. And to be absolutely perverse about it, they have not only done it with their fictional prices $100-200 above what real exchanges have, but now, their ridiculous insult to the intelligence price that has gotten them de-listed from most indices.

Will they go away though, finally? Probably not. This community is a bunch of fucking idiots who will keep enabling these assholes forever. Please, please prove me wrong.

thefunkybits

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I'm thinking that mtgox resuming withdrawals could be bearish for Stamp, btc-e etc..

I've been noticing since the gox collapse that every time it has a slippage spike a 100BTC+ sell wall appears on Bitstamp. There's never been a better opportunity to get "worthless" fiat out of gox buying bitcoins for half price and selling them on stamp (if BTC withdrawals actually resume in the next couple weeks)

Oldminer

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Quote from: MatTheCat on February 17, 2014, 02:32:03 PM

Taking the most charitable view on things:

Gox has been defrauded out of a shit ton of BTC, they are now insolvent and possibly operating in negative equity, they halt BTC withdrawals which causes the price to plummet as panicked investors rush to get into USD....and you think Karpeles and co aren't taking the liberty of arbing the fuck out of all those cheap coins to recover some of their losses?

A more honest thing to do would be for Gox to suspend trading until the problem was fixed. This would provide panicked investors with no outlet for crashing the Goxcoin price, or rather selling into Karpeles koffers as his bots crash the price. This wasn't done, because Gox isn't an honest place. It's a fucking rathole and anyone would have to be certifiable to go sending money there thinking that they are getting in on a cheap Bitcoin bonanza. Most likely, these 'cheap Bitcoins' aren't for you. A SEPA transaction to another €uro account takes just 1 day. MtGox has your money and probably hundreds of thousands more besides hoping to get in on some arbitrage action and lsoing out on cash stream to gamble in other financial sectors. At the touch of a button, he could fund all your accounts, but that would be letting y'all in on his action. If you get your funds cleared when Bitcoin is still around $200-$300 on Gox, then it is cos its going down further. Otherwise, you will find your account being credited at much more normalised price levels and you will be weeping waiting for weeks trying to extract your funds in dribs and drabs.

This + 1 billion

If this monkey of an exchange was regulated at all he'd have been shutdown back in December. Then they would have arrested him, locked him up, and thrown away the fucking key.

Le Happy Merchant

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Quote from: biafore on February 17, 2014, 09:22:23 AM

Quote from: TERA on February 17, 2014, 09:16:02 AM

What does this have to do with an ATH?

If you cant figure this out, you have no place in bitcoin trading.

Honestly, yes.

sgbett

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Merit: 1087

Quote from: dynodog on February 18, 2014, 05:04:31 PM

It would take a lot of balls to continue accepting cash deposits for people to buy bitcoin only to come out later and say "Ooops, we're broke - me so sorry."

I agree. Still braced for it though

dynodog

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It would take a lot of balls to continue accepting cash deposits for people to buy bitcoin only to come out later and say "Ooops, we're broke - me so sorry."

V4Vendettas

sr. member

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Well I guess I'm one of the few lucky ones to be getting Fiat out of gox over the last few months but then I derped, cancelled my remaining withdraws and went all in on coins.

You all get to laugh at me Undecided

for being stupid and ignoring 90% of this community.

Me looking at you Gox

Still bollocks to it Grin

Its been a great ride so once more into the breach.

evolve

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daytrader/superhero

Quote from: humanitee on February 18, 2014, 04:18:23 PM

Keep dreaming. I thought for sure they would be gone by now after their prior fuck ups, but alas, no.

Welcome to the free market; you should never expect rationality.

humanitee

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Quote from: glendall on February 18, 2014, 04:15:03 PM

I wish people would stop using Gox. They have contributed more to price crashes than any other single thing in the entire world of bitcoin.

Keep dreaming. I thought for sure they would be gone by now after their prior fuck ups, but alas, no. The community sucks, honestly.

glendall

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Buzz App - Spin wheel, farm rewards

I wish people would stop using Gox. They have contributed more to price crashes than any other single thing in the entire world of bitcoin.

biafore

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I love how Americans hate Mt. Gox the most

cdooer

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Quote from: darkmule on February 18, 2014, 12:17:09 PM

They issued a press release to announce that they're issuing another press release on February 20. Knowing their track record, they'll be late on that, too.

Not if they issue a press release saying that they'll be issuing another press release on Tuesday. Then they'll be right on time. Cheesy

darkmule

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Yet another misleading subject line. If you read the "press release" in the opening post to this topic, they didn't announce they were resuming withdrawals on February 20th. They issued a press release to announce that they're issuing another press release on February 20. Knowing their track record, they'll be late on that, too.

Topic: Mt. Gox - To resume withdrawals Feb 20th - New ATH approaching - page 3. (Read 10426 times)