Topic: Mt.GOX is FINE, BTC HAS NOT 'CRASHED' - page 3. (Read 5276 times)
That timer is counting up, not down.
I find it hard to believe that the Gox BTC withdrawals stoppage is simply a technical issue. I wouldn't be surprised if they need the price to drop enough to buy back the customer's BTC they had lost. I hope for the sake of all the unfortunates with BTC stuck in Gox, that the price has dropped sufficiently for Karples to buy it back
Cash Flows
Quote
One key insight Mark provided was the cash inflows vs outflows. He estimated $5-20 million cash going in every day, and $0.3-1 million going out[Iquote]
http://thegenesisblock.com/an-analysis-of-the-interview-with-mark-karpeles-ceo-of-mt-gox/
what are they doing with the net amount of 4-19 million $ per day !!!!!! ?? Should be easy to process withdrawals
http://thegenesisblock.com/an-analysis-of-the-interview-with-mark-karpeles-ceo-of-mt-gox/
what are they doing with the net amount of 4-19 million $ per day !!!!!! ?? Should be easy to process withdrawals
No matter what, mt gox isn't capable of performing withdrawals, which means PANIC.
true story
true story
I'm not sure if you've read this:
http://www.reddit.com/r/Bitcoin/comments/1x9gue/my_protest_at_mtgox_offices_5_to_7th_february/
but this was another Aussie, one who'd had enough of Gox messing them around.
If you read the comments below the piece you'll find an interesting comment from someone who went for a job interview there. And since...
you'll be interested to learn from those comments that Gox don't have a testing environment...they work live.
How does that fit with your view of them being uber-professional?
Disclosure: I have used Gox since last June and had numerous problems with them and at this point still have coins stuck on there - so, spreading 'FUD' is not in my interests.
http://www.reddit.com/r/Bitcoin/comments/1x9gue/my_protest_at_mtgox_offices_5_to_7th_february/
but this was another Aussie, one who'd had enough of Gox messing them around.
If you read the comments below the piece you'll find an interesting comment from someone who went for a job interview there. And since...
I am a web designer and database engineer -
you'll be interested to learn from those comments that Gox don't have a testing environment...they work live.
How does that fit with your view of them being uber-professional?
Disclosure: I have used Gox since last June and had numerous problems with them and at this point still have coins stuck on there - so, spreading 'FUD' is not in my interests.
We'll be testing 600 by the morning I presume.
there seems to be an unbreakable forcefield at 630. Price has bashed up against and ricocheted off that wall multiple times for hours. weird.
Gox's undercover PR department is here.
I knew the moment I read the title this was going to be here.
P.S. People talking about needing to see $300 again for a 'crash' as confusing a crash with 'giving up all gains'. A Crash is a sudden drop far in excess of normal daily volatility, this is a Big Crash on Gox (because it was combined with the closing of the gap between Gox and other exchanges) and a modest one (so far) on other exchanges. BTC MIGHT give up all it's November gains but no bubble EVER gives up all its gains IN ONE CRASH, past precedent in BTC if for gains to slowly slide over the course of months. To claim an immediate loss of all gains is what needs to happen to 'crash' is to set up an unrealistic hurdle.
Gox going away will be positive in the long run. It's silk road all over again in bitcoinland
Sorry I don't agree. Gox going down would be very bad for bitcoin, as millions of bitcoin users would lose confidence, and the media hype would be really bad for bitcoin too. I hope for bitcoins sake that they are fine. Nothing points to them going down at all anyway.
Uh, how would millions of bitcoin users lose confidence? Major exchanges have gone down in the past. Bitfloor was the top exchange in the US and it disappeared... Gox has only a fraction of its former market share. Most people who have been around longer than a few months have seen things like this happen before. That it is Gox does not mean that everyone will throw up their arms and panic. Heck, most people hate Gox and would love to see it go.
Gox going away will be positive in the long run. It's silk road all over again in bitcoinland
Sorry I don't agree. Gox going down would be very bad for bitcoin, as millions of bitcoin users would lose confidence, and the media hype would be really bad for bitcoin too. I hope for bitcoins sake that they are fine. Nothing points to them going down at all anyway.
Gox going away will be positive in the long run. It's silk road all over again in bitcoinland
Ya I've trying to tell ppl the same thing . I don't really consider something selling for 250 then 1000 then 650 in less than 3 months a big crash. It's a matter of perspective. It's just as valid to say the price has tripled in less than 3 months.... uh, how is that a crash exactly? 
I'm even hearing out the 'big bitcoin crash, haha, oh you know bitcoin , it crashes all the time' kind of news stories in mainstream media.It just makes me laugh. If we go to down to sub 300 , that would be a crash.
I'm even hearing out the 'big bitcoin crash, haha, oh you know bitcoin , it crashes all the time' kind of news stories in mainstream media.It just makes me laugh. If we go to down to sub 300 , that would be a crash.
I agree on the fact that BTC staying above the $600-ish area is indicative of at least a modicum of support.
But I disagree on Gox, it clearly isn't fine. The main upside to this is that hopefully gox will die and not cause any further liquidity crisis.
But I disagree on Gox, it clearly isn't fine. The main upside to this is that hopefully gox will die and not cause any further liquidity crisis.
Is that the sound of helicopters?
No wait. It's just a posttraumatic coinlenders flashback...
No wait. It's just a posttraumatic coinlenders flashback...
Out of curiosity, how much do you have tied up with gox?
Not too much. I have equal number of coins in Gox, btce and localbitcoins - i think they are all good in different ways. Gox always had a better rate for selling & better withdrawals in AUD. btce better EUR withdrawals. Localbitcoins good for the more decentralized approach.
I am not trying to kiss Gox's ass or something - just trying to point out that the Gox-hating club on this forum is way out of balance and a lot of them seem actually to be anti-bitcoin itself. So go figure. They have an agenda. If they can get everyone to hate Gox then maybe bitcoin itself will go down. It's the biggest exchange and most professional in it's feel and support. No joke they nearly always reply to my support request in 4-5 days max. Btce has no support as far as i can see. Trying to kill Gox is like trying to kill bitcoin so take all the trolls Gox-hating with a big pinch of salt.
it hasnt crashed YET, and who said it has?
there is a very real possibility that we revisit 400. lets not speak too soon.
there is a very real possibility that we revisit 400. lets not speak too soon.
Out of curiosity, how much do you have tied up with gox?
You have to understand that MtGox has some credibility issues around here due to the fact that when they announced a 2-week "temporary" hiatus on USD withdrawals last June, it turned into many months and very inconsistent withdrawals when they did return.
It seems whales were able to move fiat in and out through sheer volume and paying a premium. Small investors and traders were treated as 2nd-class citizens.
Needless to say, when they recently suspended BTC withdrawals and promised to have things back running in 2 weeks, many people were skeptical.
It seems whales were able to move fiat in and out through sheer volume and paying a premium. Small investors and traders were treated as 2nd-class citizens.
Needless to say, when they recently suspended BTC withdrawals and promised to have things back running in 2 weeks, many people were skeptical.
MT.GOX IS ABOUT TO SCAM EVERYONE!
Sad but true
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