130 and crashing!
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Topic: Official End of Mt Gox thread - page 9. (Read 13004 times)
has anyone successfully got any funds onto gox in the past few days?
yes. sepa took about 48 hours excluding weekends (and I think monday was a holiday in US? maybe elsewhere).
just wondering... you wired money to gox to pick up coins cheap, which makes sense maybe economically, if the chance of total failure is outweighed by the chance of getting the coins out of gox and the possible profit you could make on that.
But you don't see any problem at all that, by doing so, you're lending gox legitimacy that they very much don't deserve anymore? I mean, I know, it's a market, morality has no place in here but... really?
I'm not a moral arbiter. Especially not given that I don't actually *know* what is going on at gox.
I'm amazed how many people claim that they do.
Here's just one scenario out of a hat.
Gox knows that by allowing BTC withdrawals, they could potentially double pay (yes due to their own flawed algorithm - but still a risk all the same), and this would threaten solvency/customer deposits.
What needs to happen is that the free market will decide. If people are happy to tolerate gox's way of doing things they will carry on, if they don't gox will die.
If people want to make it a moral crusade that's their call. To me its just business.
I could say something about the paradox of the self-interested actor, something along the lines of the dominant strategy not necessarily leading to the optimal result for the individual that chose that strategy, but I would sound like a self-righteous, hypocritical dick. Carry on then.
See MtGox,
how it is possible, big international robbery without any help and without any legal responsibility.
Who was behind this
how it is possible, big international robbery without any help and without any legal responsibility.
Who was behind this
STOP FUCKING AROUND WITH YOUR COPY & PASTE.
130 and crashing!
See MtGox,
how it is possible, big international robbery without any help and without any legal responsibility.
Who was behind this
how it is possible, big international robbery without any help and without any legal responsibility.
Who was behind this
has anyone successfully got any funds onto gox in the past few days?
yes. sepa took about 48 hours excluding weekends (and I think monday was a holiday in US? maybe elsewhere).
just wondering... you wired money to gox to pick up coins cheap, which makes sense maybe economically, if the chance of total failure is outweighed by the chance of getting the coins out of gox and the possible profit you could make on that.
But you don't see any problem at all that, by doing so, you're lending gox legitimacy that they very much don't deserve anymore? I mean, I know, it's a market, morality has no place in here but... really?
I'm not a moral arbiter. Especially not given that I don't actually *know* what is going on at gox.
I'm amazed how many people claim that they do.
Here's just one scenario out of a hat.
Gox knows that by allowing BTC withdrawals, they could potentially double pay (yes due to their own flawed algorithm - but still a risk all the same), and this would threaten solvency/customer deposits.
What needs to happen is that the free market will decide. If people are happy to tolerate gox's way of doing things they will carry on, if they don't gox will die.
If people want to make it a moral crusade that's their call. To me its just business.
If Mt.Gox will allow withdrawal of bitocoins -> price will drop hard
Why do you assume this? From what I've seen the bid sum on Gox has dropped massively over the last few days. This tells me people are reluctant to buy (obviously). But where is that money going? It certainly isn't being withdrawn (we all know about the huge fiat withdrawal delays). So it's sitting in people's Gox accounts.
So what happens when/if bitcoin withdrawals are restarted? People who want to get their money out will buy bitcoin, send their coins elsewhere and sell them - just as they've been trying to do for the last few months. People with low ask orders will cancel them now that they know they can send their coins elsewhere and get more money for them. This causes the Gox price to skyrocket and prices elsewhere to (maybe) drop moderately. And we end up right back where we were before this whole malleability mess - with a Gox price higher than everywhere else.
That image will keep popping up the next couple of months.
Those "bitcoins" from Gox are never getting out.
They don't have to get out.
Mark can easily just sell them.
Either way. Shorting bitcoin NOW is the way to go.
If Mt.Gox will completly default -> price will drop hard
If Mt.Gox will allow withdrawal of bitocoins -> price will drop hard
Either way, we will go down to 100-250$ per bitcoin and stay there till mass adoption really kicks in (2-5 years).
Why do you assume Mark (and the people buying now if Gox does allow withdrawals) will suddenly want to sell? Mark already has a ton of coins of his own, by your logic he should be selling those.
If you think price is going to rise in the future, the rational thing is to hold regardless of the price you bought in at.
Those "bitcoins" from Gox are never getting out.
They don't have to get out.
Mark can easily just sell them.
Either way. Shorting bitcoin NOW is the way to go.
If Mt.Gox will completly default -> price will drop hard
If Mt.Gox will allow withdrawal of bitocoins -> price will drop hard
Either way, we will go down to 100-250$ per bitcoin and stay there till mass adoption really kicks in (2-5 years).
I am very impressed by Bitstamp (and the other exchanges). They've pretty much ran out of shits to give. I don't think we will go much below where we are now even if/when Gox goes to zero.
Millions of Bitcoin will be sold from the MtGox on Bitstamp, and Bistamp will collapse just like the MtGox !
Those "bitcoins" from Gox are never getting out.
I am very impressed by Bitstamp (and the other exchanges). They've pretty much ran out of shits to give. I don't think we will go much below where we are now even if/when Gox goes to zero.
Millions of Bitcoin will be sold from the MtGox on Bitstamp, and Bistamp will collapse just like the MtGox !
I am very impressed by Bitstamp (and the other exchanges). They've pretty much ran out of shits to give. I don't think we will go much below where we are now even if/when Gox goes to zero.
Game is over
Is there really only 20-25% chance gox pays out? I must say it's a bit tempting to wire money and buy $130 coins hoping for the best. Not going to though :p
Hey MtGox users,
Why panick? Bitcoin price is where it was 6 months ago.
Why panick? Bitcoin price is where it was 6 months ago.
It's not the price they're worried about.
In my eyes it's completely insane, that trading hasn't been halted -- it should have been a few minutes prior to the first announcement, that bitcoin withdrawals are suspended!
A honest business would have done that (suspend trading), but MTGox chose to defraud its customers.
When the MtGox price is 75% lower than Bitstamp, I think defraud is the right verb describing the situation.
I don't get it, yet another drop to $130 ? how is this even possible given the current price on other markets?
I suspect, there are coins sold which only exist in their database. Does anybody have experience with a similar situation? Or knows of an example in history where we can look at? In my eyes it's completely insane, that trading hasn't been halted -- it should have been a few minutes prior to the first announcement, that bitcoin withdrawals are suspended!
I suspect, there are coins sold which only exist in their database. Does anybody have experience with a similar situation? Or knows of an example in history where we can look at? In my eyes it's completely insane, that trading hasn't been halted -- it should have been a few minutes prior to the first announcement, that bitcoin withdrawals are suspended!
Hey MtGox users,
Why panick? Bitcoin price is where it was 6 months ago.
Why panick? Bitcoin price is where it was 6 months ago.
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