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Topic: Mt. Gox - To resume withdrawals Feb 20th - New ATH approaching - page 7. (Read 10426 times)

legendary
Activity: 2576
Merit: 1087
It's been 72hours since I sent my urgent SEPA transfer (which guarantees same day from my bank - and shows same day when i do this to bitstamp) and it still isn't showing on my gox account. I'm inclined to agree that I will miss the window, and price will have normalised before I get chance to get a few discount coins.

ho hum.

Why oh why did you send money over there?Huh Did you also sent BTC to Gox in the last weeks when the price over there was +20% ?
It´s a trap, you will get fooled. I hope not so.

I sent cash because i believe that the issue over btc withdrawal will be resolved in due course, and it looked like an opportunity to buy at a discount.

I didn't send coins when it was selling at a premium, because I think resolving the issues over fiat withdrawals was a much tougher nut to crack for gox as it relied in the co-operation of 2rd parties in the traditional banking system. A much different issue.

Fixing btc withdrawal is just a matter of them re-enabling it in their software.

It's not that I don't participate in groupthink, but that I try to recognise when doing so is detrimental. YMMV. I think gox are mildly incompetent. I don't think they are intentionally committing fraud.

I might be wrong about the whole thing, it might be a big mistake, but I'm clear about why I'm doing what the risk is in my view, and what the potential reward is.

hero member
Activity: 504
Merit: 500
Moderator
It's been 72hours since I sent my urgent SEPA transfer (which guarantees same day from my bank - and shows same day when i do this to bitstamp) and it still isn't showing on my gox account. I'm inclined to agree that I will miss the window, and price will have normalised before I get chance to get a few discount coins.

ho hum.

Why oh why did you send money over there?Huh Did you also sent BTC to Gox in the last weeks when the price over there was +20% ?
It´s a trap, you will get fooled. I hope not so.
legendary
Activity: 2576
Merit: 1087
It's been 72hours since I sent my urgent SEPA transfer (which guarantees same day from my bank - and shows same day when i do this to bitstamp) and it still isn't showing on my gox account. I'm inclined to agree that I will miss the window, and price will have normalised before I get chance to get a few discount coins.

ho hum.
hero member
Activity: 504
Merit: 500
Moderator
It is obviously guaranteed that if they do allow withdrawals again there will be a lot of people trying to buy BTC from Gox->Bitstamp to profit.I think the price will increase or stabilize around ~700 over next two weeks.

Before withdrawls are allowed price will probably already match on other exchanges,just like sgbett said, i expect it anywhere around 350-500$.
This one in a lifetime arbitrage possibility is not going to happen, sorry. So far Gox cumstomers have never been rewarded for beeing on Gox and it surely won´t happen this time.
legendary
Activity: 2576
Merit: 1087
Classic bitcoiner boom or bust mentality.

I think in truth it will be much more boring. At the point we return to 'business as usual' the gap between gox and other exchanges will just close naturally as arbatrigeurs get involved. depending on the volume at the respective exchanges will depend on whether its closer to the $350 of gox or the ~$650 elsewhere.

More than likely it will be in the middle somewhere around $500.

That will be about as exciting as it gets.
+1 but you will admit that Gox is not goin anywhere with their customers BTC or Fiat?

My personal opinion, again leans towards the mundane. Nothing 'bad' will happen, withdrawals will resume, business as usual.

It's not a popular opinion (see the recent sell off), but that's all I got Wink
sr. member
Activity: 308
Merit: 250
ATH was reached due to hordes of Chinese gamblers and media hype. Both of them are gone. Keep it real.
Some quotes from this board (2013)

Quote
"we will never see $100 again"

Quote
Goodbye, triple digits. See you 2015.

Quote
I predict BTC/USD will fall to $2 by December 31,

Endless quotes with this pessimism....

With bitcoin, anything is possible... time will tell.
hero member
Activity: 532
Merit: 500
It is obviously guaranteed that if they do allow withdrawals again there will be a lot of people trying to buy BTC from Gox->Bitstamp to profit.I think the price will increase or stabilize around ~700 over next two weeks.
newbie
Activity: 42
Merit: 0
Classic bitcoiner boom or bust mentality.

I think in truth it will be much more boring. At the point we return to 'business as usual' the gap between gox and other exchanges will just close naturally as arbatrigeurs get involved. depending on the volume at the respective exchanges will depend on whether its closer to the $350 of gox or the ~$650 elsewhere.

More than likely it will be in the middle somewhere around $500.

That will be about as exciting as it gets.
+1 but you will admit that Gox is not goin anywhere with their customers BTC or Fiat?
legendary
Activity: 2576
Merit: 1087
Classic bitcoiner boom or bust mentality.

I think in truth it will be much more boring. At the point we return to 'business as usual' the gap between gox and other exchanges will just close naturally as arbatrigeurs get involved. depending on the volume at the respective exchanges will depend on whether its closer to the $350 of gox or the ~$650 elsewhere.

More than likely it will be in the middle somewhere around $500.

That will be about as exciting as it gets.
legendary
Activity: 3934
Merit: 3190
Leave no FUD unchallenged
I'll post the same thing in this thread as I did in the other:

When they resume withdrawals it should be a mass exodus.  Take everything out, put nothing in.  Leave them to die before they do any further damage.

If your real world bank told you that you can't have your money, you'd dump their sorry arses in a heartbeat and move to another bank.  Why anyone would continue to trust these inept halfwits with their money is beyond my comprehension.
legendary
Activity: 1246
Merit: 1000
What does this have to do with an ATH?
If you cant figure this out, you have no place in bitcoin trading.

TERA has more trading experience than many other posters here, don't insult him.
What will happen will be just MtGox price rising close to Bitstamp price, with some volatility.
There will be no new ATH until the current bubble deflates, a new one starts and eventually grows exponentially.

Where have we heard that one before? Oh yeah back in June 2013...
hero member
Activity: 1106
Merit: 500
Life is short, practice empathy in your life
ATH was reached due to hordes of Chinese gamblers and media hype. Both of them are gone. Keep it real.
hero member
Activity: 728
Merit: 500
ATH on Mt. Gox?

Does it really matter... People will just withdraw their funds from them at any cost. Then the price will plummet. Grin
sr. member
Activity: 308
Merit: 250
What does this have to do with an ATH?
If you cant figure this out, you have no place in bitcoin trading.

TERA has more trading experience than many other posters here, don't insult him.
What will happen will be just MtGox price rising close to Bitstamp price, with some volatility.
There will be no new ATH until the current bubble deflates, a new one starts and eventually grows exponentially.
That says nothing at all .. Warren Buffet has even more trading experience.
According to him, bitcoin will fail .... he is wrong.
legendary
Activity: 2156
Merit: 1094
What does this have to do with an ATH?
If you cant figure this out, you have no place in bitcoin trading.

TERA has more trading experience than many other posters here, don't insult him.
What will happen will be just MtGox price rising close to Bitstamp price, with some volatility.
There will be no new ATH until the current bubble deflates, a new one starts and eventually grows exponentially.
sr. member
Activity: 448
Merit: 250
I see it. To prevent people from massively withdrawing from mtgox, mtgox will again massively inflate its btc exchange rate.

Run along people, nothing new to see here.
legendary
Activity: 952
Merit: 1000
Yeah! I hate ShroomsKit!
What does this have to do with an ATH?
If you cant figure this out, you have no place in bitcoin trading.

Explain please.
newbie
Activity: 42
Merit: 0
What does this have to do with an ATH?
If you cant figure this out, you have no place in bitcoin trading.
hero member
Activity: 728
Merit: 500
What does this have to do with an ATH?
hero member
Activity: 504
Merit: 500
Moderator
Let me fix that for them.

Quote
With this new system in place, MtGox should be able to resume withdrawals soon™

 Cheesy Cheesy Cheesy
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