The Fleecing of Mt. Gox | Bitcointalksearch.org

AceOfWands

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Quote from: MatTheCat on February 16, 2014, 09:53:01 AM

Quote from: AceOfWands on February 15, 2014, 10:32:33 PM

On my working hypothesis, the smart coins are buying, and the dumb coins are instant selling. Thousands of dumb coins captured on the way back down, and the price won't go much below the previous floor of 365, then shoot back up to 450 quickly... just at a guess. Some lucky limit sellers get to buy back in at a BTC profit. Cool.

Hmm.

I don't think I shall subscribe to your market analysis service then.

Damn, wish I'd guessed differently myself. I held on to my 2 BTC, having canceled my sell order at 520 because I didn't want to play. Now they are down to half that. Doh! Doesn't prove the market isn't being manipulated though.

prophetx

legendary

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he who has the gold makes the rules

well at least they haven't gotten hacked and had a bunch of btc stolen

not yet at least

MoreFun

legendary

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WePower.red

Quote from: EvilPanda on February 16, 2014, 10:43:52 AM

Crowd mentality is sometimes hard to guess, I'd say if they open transfers, people will buy back to be close to the average and then move to other exchanges. At least that's what I'd do. If they don't, price will continue falling, as people pefer to have $ not BTC in case this goes to court.

Gox will probably limit the BTC withdrawal amount.

EvilPanda

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Small Red and Bad

Crowd mentality is sometimes hard to guess, I'd say if they open transfers, people will buy back to be close to the average and then move to other exchanges. At least that's what I'd do. If they don't, price will continue falling, as people pefer to have $ not BTC in case this goes to court.

MatTheCat

hero member

Activity: 840

Merit: 1000

Quote from: AceOfWands on February 15, 2014, 10:32:33 PM

On my working hypothesis, the smart coins are buying, and the dumb coins are instant selling. Thousands of dumb coins captured on the way back down, and the price won't go much below the previous floor of 365, then shoot back up to 450 quickly... just at a guess. Some lucky limit sellers get to buy back in at a BTC profit. Cool.

Hmm.

I don't think I shall subscribe to your market analysis service then.

Bit_Happy

legendary

Activity: 2114

Merit: 1040

A Great Time to Start Something!

Quote from: Oldminer on February 16, 2014, 12:09:19 AM

Gox support is trying to convince me to cancel my USD withdrawal and buy back BTC. If a bank operated like this they would be shutdown in an instant. All I want is to get my money out and never go near the exchange again yet instead I'm involved in a 'discussion' with their support that goes around in circles & never ends.

If the price goes low enough buy those BTC Cheesy

ArticMine

legendary

Activity: 2282

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Monero Core Team

My first suggestion to anyone involved with MTGox is that GoxBTC/GoxUSD is a very different currency pair than BTC/USD. The fundamentals are very different, as is the technical analysis. Take at look at http://bitcoinwisdom.com/markets/mtgox/btcusd and see for yourselves.

With GoxBTC/GoxUSD trading at 50% of BTC/USD combined with the reality that is way more likely to get BTC out of MTGox than USD converting any fiat currency trapped in MTGox to GoxBTC is to me the least risky option.

ArticMine

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Monero Core Team

Quote from: ?? on ??

"Gox support is trying to convince me to cancel my USD withdrawal and buy back BTC. If a bank operated like this they would be shutdown in an instant. All I want is to get my money out and never go near the exchange again yet instead I'm involved in a 'discussion' with their support that goes around in circles & never ends."

LAUGH MY ASS OFF.

See this part, "If a bank operated like this they would be shutdown in an instant."

Really genius. Why do you think that any rational person is saying that bitcoin in a bubble/Ponzi scheme/scam and that it can just as easily go to zero tomorrow as $1,000,000 each. Nobody to save you - you 'old miner / timer' goof. No bank, no central authority, no cops, no government, nada, zip, zilch, you have been fleeced and get that into you.

I am focusing all my effort both day and night to rip off / hack / steal / scam every bloody bitcoin I can, and dump it as fast as I sell it. This bitcoin mania is the single biggest opportunity in the history of cybercrime to make it big!

Now back to hacking I go... more noobs wallets to steal Shocked

I would do as they suggest, have them cancel the wire, and buy the BTC especially at these prices. MTGox will open up BTC withdrawals long before you will be able to withdraw USD. The USD issue has been going on since last summer. I went though this back in the fall with trapped CAD. Cancelled the wire and bought the BTC during the silk road crash at around 122 CAD per BTC, and withdrew the BTC at the first opportunity.

The danger you face is that they will open BTC withdrawals and the GoxBTC/GoxUSD rate could easily sky-rocket to 200 or 300 USD above the Bitstamp price, and if one has trapped USD then one has real trouble.

Edit: Do not fear Bubba profit at his expense instead.

aminorex

legendary

Activity: 1596

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Sine secretum non libertas

Quote from: ?? on ??

"Gox support is trying to convince me to cancel my USD withdrawal and buy back BTC. If a bank operated like this they would be shutdown in an instant. All I want is to get my money out and never go near the exchange again yet instead I'm involved in a 'discussion' with their support that goes around in circles & never ends."

LAUGH MY ASS OFF.

See this part, "If a bank operated like this they would be shutdown in an instant."

Really genius. Why do you think that any rational person is saying that bitcoin in a bubble/Ponzi scheme/scam and that it can just as easily go to zero tomorrow as $1,000,000 each. Nobody to save you - you 'old miner / timer' goof. No bank, no central authority, no cops, no government, nada, zip, zilch, you have been fleeced and get that into you.

I am focusing all my effort both day and night to rip off / hack / steal / scam every bloody bitcoin I can, and dump it as fast as I sell it. This bitcoin mania is the single biggest opportunity in the history of cybercrime to make it big!

Now back to hacking I go... more noobs wallets to steal Shocked

Hope you enjoy your celltime with Bubba.

smoothie

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LEALANA Bitcoin Grim Reaper

Whoever bought 3800 BTC on gox up to $500+ ....LOL

Oldminer

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Gox support is trying to convince me to cancel my USD withdrawal and buy back BTC. If a bank operated like this they would be shutdown in an instant. All I want is to get my money out and never go near the exchange again yet instead I'm involved in a 'discussion' with their support that goes around in circles & never ends.

AceOfWands

newbie

Activity: 9

Merit: 0

Quote from: AceOfWands on February 15, 2014, 10:46:20 PM

Quote from: franky1 on February 15, 2014, 10:35:17 PM

Quote from: AceOfWands on February 15, 2014, 10:32:33 PM

On my working hypothesis, the smart coins are buying, and the dumb coins are instant selling.

on my hypothesis the smart coins are not even using mtgox and the dumb coins are being deposited and trading on mtgox

You got me there, smart and dumb being relative things. I'm a dumb noob with 2 BTC stuck on gox, waiting for this weirdness to play out.

Although I might hold to my hypothesis that there are indeed some very smart coins trading on Mt. Gox. And making bitcoin bank.

MatTheCat

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Quote from: WesandEAC on February 15, 2014, 10:41:17 PM

I am inspired fellas. Mark is buying and using his own money to put things right. It could be no one else. Wink

Every chance they observe 2500 or so coins that can be bought up for a $200 or less gap it is worth it. Good for him. He was robbed and is still going to try to make good with out anyone ever knowing. I was buying as well but I am about tapped out at this point. Now I'll just go do some good deeds for some karma! haha

Hooray!

The shady incompetent rat crook has come to save us all!

AceOfWands

newbie

Activity: 9

Merit: 0

Quote from: franky1 on February 15, 2014, 10:35:17 PM

Quote from: AceOfWands on February 15, 2014, 10:32:33 PM

On my working hypothesis, the smart coins are buying, and the dumb coins are instant selling.

on my hypothesis the smart coins are not even using mtgox and the dumb coins are being deposited and trading on mtgox

You got me there, smart and dumb being relative things. I'm a dumb noob with 2 BTC stuck on gox, waiting for this weirdness to play out.

WesandEAC

full member

Activity: 140

Merit: 100

Hmm was 4000 coins. 10 more times and he will be whole. Wink

WesandEAC

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Activity: 140

Merit: 100

I am inspired fellas. Mark is buying and using his own money to put things right. It could be no one else. Wink

Every chance they observe 2500 or so coins that can be bought up for a $200 or less gap it is worth it. Good for him. He was robbed and is still going to try to make good with out anyone ever knowing. I was buying as well but I am about tapped out at this point. Now I'll just go do some good deeds for some karma! haha

Quote from: cwfabc on February 15, 2014, 10:11:31 PM

3800 coin shoot to 540$

TERA

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There seems to be a gigantic floor at 300 and growing. I don't see it falling below there unless mtgox actually announces that they are insolvent.

franky1

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Quote from: AceOfWands on February 15, 2014, 10:32:33 PM

On my working hypothesis, the smart coins are buying, and the dumb coins are instant selling.

on my hypothesis the smart coins are not even using mtgox and the dumb coins are being deposited and trading on mtgox

AceOfWands

newbie

Activity: 9

Merit: 0

On my working hypothesis, the smart coins are buying, and the dumb coins are instant selling. Thousands of dumb coins captured on the way back down, and the price won't go much below the previous floor of 365, then shoot back up to 450 quickly... just at a guess. Some lucky limit sellers get to buy back in at a BTC profit. Cool.

cwfabc

full member

Activity: 141

Merit: 100

3800 coin shoot to 540$

Topic: The Fleecing of Mt. Gox (Read 2295 times)