Pages:
Author

Topic: MT.GOX PRESS : Statement Regarding Temporary Hiatus on U.S. Dollar Withdrawals - page 4. (Read 6229 times)

full member
Activity: 140
Merit: 100
Sudden demand for fiat, US fiat of all things, in large enough quantities that Gox has to adjust its behavior.

At least that's the story so far.

It begs all the "W" questions: who, why, where, how, even when. No doubt the media will be all over it... or not.

Fascinating development.


Dwolla accounts seized -> Dwolla users turn to wire transfers -> Mt. Gox bank accounts transaction volume rises rapidly -> bank eventually urges Mt. Gox to talk and do something.

This seems the most plausible theory anyway.
hero member
Activity: 894
Merit: 1001

Except, you know, you could transfer your coins afterwards to another exchange, sell there, and withdraw your USD.

And pay twice the fees. =)

Yeah good exit. lolz

Not twice - triple!
Before:
1. withdrawal fee on Gox

Now
1. fee to buy btc on Gox
2. fee to sel btc on other exchange
3. withdrawal fee on other exchange
And usual lower prices on other exchanges and minor fee to trasfer btc as addition...
hero member
Activity: 634
Merit: 500
After much thought put into this recent news lead to only one outcome:
Exodus of USD from Gox.

If USD can't leave Gox nobody in their right mind would sell. So when people go to buy what happens?

Basically, USD can't leave Gox.
legendary
Activity: 1450
Merit: 1013
Cryptanalyst castrated by his government, 1952
Sudden demand for fiat, US fiat of all things, in large enough quantities that Gox has to adjust its behavior.

At least that's the story so far.

It begs all the "W" questions: who, why, where, how, even when. No doubt the media will be all over it... or not.

Fascinating development.
legendary
Activity: 1428
Merit: 1000
Exodus of USD from Gox, and there currently is only one exit: Buying coins. Expect artificial price boom now.

Except, you know, you could transfer your coins afterwards to another exchange, sell there, and withdraw your USD.

Sure, but i'm talking of Gox users with Fiat sitting in their accounts. And tens of millions are sitting in Gox right now.
legendary
Activity: 2492
Merit: 1473
LEALANA Bitcoin Grim Reaper
Exodus of USD from Gox, and there currently is only one exit: Buying coins. Expect artificial price boom now.

Except, you know, you could transfer your coins afterwards to another exchange, sell there, and withdraw your USD.

And pay twice the fees. =)

Yeah good exit. lolz
sr. member
Activity: 364
Merit: 250
The funny thing is artificial price boom on Gox results in real price boom everywhere as most people use Gox reference.
(But it's also true for artificial price drops on Gox)
full member
Activity: 140
Merit: 100
Exodus of USD from Gox, and there currently is only one exit: Buying coins. Expect artificial price boom now.

Except, you know, you could transfer your coins afterwards to another exchange, sell there, and withdraw your USD.
legendary
Activity: 2492
Merit: 1473
LEALANA Bitcoin Grim Reaper
lol cant withdraw USD...


BITCOIN UP! lolz  Cheesy Cheesy Cheesy
legendary
Activity: 1428
Merit: 1000
https://mtgox.com/press_release_20130620.html


After much thought put into this recent news lead to only one outcome:
Exodus of USD from Gox, and there currently is only one exit: Buying coins. Expect artificial price boom now.
Pages:
Jump to: