Topic: MtGox's DEATH - Bitcoin headed towards darkness? - page 5. (Read 8323 times)
If Gox implodes, which looks very possible, we would get another massive sell off and then stabilize at about $100-$125 less than we are at right now (IMO). I think we will overcome that but it will take some time
I doubt this is going to be the death of bitcoin. It's just a hiccup.
It is actually a technical glitch. A serious one, but I don't think they've run out of bitcoins, they've just been forced to stop withdrawals until they fix their software, it was doing withdrawals wrong & some people may have exploited that. They probably lost some bitcoins as a result, hopefully they can afford to replace them.
It's not going to kill bitcoin, there are plenty of other exchanges. If you put your life savings into bitcoin then you're a fool. It's gambling, only bet money you can afford to lose.
It's not going to kill bitcoin, there are plenty of other exchanges. If you put your life savings into bitcoin then you're a fool. It's gambling, only bet money you can afford to lose.
This is some speculation that MtGox does not have adequate BTC on hand to cover a significant volume of bitcoin wallet withdrawals.
By halting withdrawals it buys them time to (among other things) either; a.) increase their bitcoin balance, b.) come up with another excuse not to give customers access to their bitcoins, or c.) hope that this 2-day delay will somehow slow the bleeding once they re-enable withdrawals on Monday.
By halting withdrawals it buys them time to (among other things) either; a.) increase their bitcoin balance, b.) come up with another excuse not to give customers access to their bitcoins, or c.) hope that this 2-day delay will somehow slow the bleeding once they re-enable withdrawals on Monday.
That is what most of us are worried about.
IF mtgox does declare that it cannot continue operations, does that mean all our money goes down with them? Or would they be professional enough to give us back what they owe us?
Hello dear friend.
The MtGox will not die, will be paid all know what I'm saying.
within a few days months we will see the price of bitcoin in new maximums.
what is happening is that the surest is all being paid when the price of BTC enter the house of 500 usd per bitcoin.
when they saw that I was right can donate
Bitcoin
1HqqFQAfC5ph366Egvp3ZYryWDJgxqxJ7c
The MtGox will not die, will be paid all know what I'm saying.
within a few days months we will see the price of bitcoin in new maximums.
what is happening is that the surest is all being paid when the price of BTC enter the house of 500 usd per bitcoin.
when they saw that I was right can donate
Bitcoin
1HqqFQAfC5ph366Egvp3ZYryWDJgxqxJ7c
There is some speculation that MtGox does not have adequate BTC on hand to cover a significant volume of bitcoin wallet withdrawals.
By halting withdrawals it buys them time to (among other things) either; a.) increase their bitcoin balance, b.) come up with another excuse not to give customers access to their bitcoins, or c.) hope that this 2-day delay will somehow slow the bleeding once they re-enable withdrawals on Monday.
By halting withdrawals it buys them time to (among other things) either; a.) increase their bitcoin balance, b.) come up with another excuse not to give customers access to their bitcoins, or c.) hope that this 2-day delay will somehow slow the bleeding once they re-enable withdrawals on Monday.
For the big operation, It usually cannot be fully solved within 2 days, but providing the progression about following up.
Real players do not select mtgox as their primary, they possibly select bitstamp or campbx for fiat withdrawal.
Real players do not select mtgox as their primary, they possibly select bitstamp or campbx for fiat withdrawal.
But bitstamp doesn't let people from all around the world withdraw fiat, right? Unlike mtgox did.
For the big operation, It usually cannot be fully solved within 2 days, but providing the progression about following up.
Real players do not select mtgox as their primary, they possibly select bitstamp or campbx for fiat withdrawal.
Real players do not select mtgox as their primary, they possibly select bitstamp or campbx for fiat withdrawal.
As we all know by now, mtgox is in big trouble. They say they will release a new statement on 10th Feb 2014, which most likely would be "we have sent all the stuck bitcoins back, but fiat withdrawals still won't go through".
What if, none of the future btc withdrawals don't work either? And mtgox finally admits to going belly up, like 2 months later?
What would happen when mtgox finally admits that it is in big trouble and can't serve us anymore? Would the bitcoin prices fall sharply AGAIN? Or would the prices hold steady (because its not like all exchanges will shutdown).
What I personally think will happen on Monday is, mtgox will release the "stuck" bitcoins back to the owners, and the respective owners will again try to withdraw all their btc holdings because not a lot of people trust mtgox anymore. And what happens when mtgox again receives thousands of withdrawal requests on monday? The coins get "stuck" again (i.e. if it indeed is a technical issue)!
Do you really think that they can fix a REAL technical issue in just 2 days ? If they were that competent, wouldn't they have fixed the technical glitch a long time ago?
I have some money held up with mtgox, and I really do hope that i do get my coins back, but I like to live in the reality. I know, there is something BIG going on inside mtgox - Either they are keeping the coins for themselves as part of an elaborate ponzi scheme OR they are in big trouble with the authorities and hence, can't release any coins until the authorities let them do so.
Either way, this DOES NOT LOOK GOOD. Like many will agree, its best that mtgox pays us back what they owe us and shuts down for good. Because all these price fluctuations caused by the mtgox uncertainity is making many new small-time investors lose their life savings.
Coindesk Article on Mtgox death :: http://www.coindesk.com/mt-gox-first-bitcoin-exchange-dead/
What if, none of the future btc withdrawals don't work either? And mtgox finally admits to going belly up, like 2 months later?
What would happen when mtgox finally admits that it is in big trouble and can't serve us anymore? Would the bitcoin prices fall sharply AGAIN? Or would the prices hold steady (because its not like all exchanges will shutdown).
What I personally think will happen on Monday is, mtgox will release the "stuck" bitcoins back to the owners, and the respective owners will again try to withdraw all their btc holdings because not a lot of people trust mtgox anymore. And what happens when mtgox again receives thousands of withdrawal requests on monday? The coins get "stuck" again (i.e. if it indeed is a technical issue)!
Do you really think that they can fix a REAL technical issue in just 2 days ? If they were that competent, wouldn't they have fixed the technical glitch a long time ago?
I have some money held up with mtgox, and I really do hope that i do get my coins back, but I like to live in the reality. I know, there is something BIG going on inside mtgox - Either they are keeping the coins for themselves as part of an elaborate ponzi scheme OR they are in big trouble with the authorities and hence, can't release any coins until the authorities let them do so.
Either way, this DOES NOT LOOK GOOD. Like many will agree, its best that mtgox pays us back what they owe us and shuts down for good. Because all these price fluctuations caused by the mtgox uncertainity is making many new small-time investors lose their life savings.
Coindesk Article on Mtgox death :: http://www.coindesk.com/mt-gox-first-bitcoin-exchange-dead/
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