Topic: What happens if Mt. Gox suddenly goes away? (Read 1090 times)
Supply and demand. Less sellers and we profit!
Bitcoin is fine without Gox. It'll put more emphasis on other exchanges, and ripple will solve all of our problems.
The first dozen or so times gox crashes it had an effect on bitcoin price, but people have either gotten used to it, or lose faith in gox because each time gox crashes it has less and less of an effect on bitcoin price on other exchanges.
So when gox finally bites the dust I wouldnt expect much more than a $20 drop in bitcoin price.
So when gox finally bites the dust I wouldnt expect much more than a $20 drop in bitcoin price.
..I guess in the long run, it'd actually be good for bitcoin!
BTC-e would take I've and millions would kill themselves.
More exchanges getting ready to launch:
BTCGlobal: https://btcglobal.net/products/btc.uy-exchange
Kraken: https://www.kraken.com
BTCGlobal: https://btcglobal.net/products/btc.uy-exchange
Kraken: https://www.kraken.com
Well there is www.cavirtex.com in Canada.
They have said that they are looking at allowing users from out side of Canada.
They also do have a MSB license too.
Nice find They have said that they are looking at allowing users from out side of Canada.
They also do have a MSB license too.
Well there is www.cavirtex.com in Canada.
They have said that they are looking at allowing users from out side of Canada.
They also do have a MSB license too.
They have said that they are looking at allowing users from out side of Canada.
They also do have a MSB license too.
temporary drop in price until people moved to other exchanges.
I think face to face transactions would benefit from Mt. Gox's fall / shutdown.
I think nothing would happen, first of all even if they can stop mtgox in usa, it would continue working on europe etc.
There are other exchanges, they would become more popular for users from usa.
The price can go up or down I think. It is difficult to say, but if americans stop selling on mtgox, there may be too much demand and price can also go up perhaps?
Probably americans would suffer if government would confiscate their funds from mtgox accounts.
There are other exchanges, they would become more popular for users from usa.
The price can go up or down I think. It is difficult to say, but if americans stop selling on mtgox, there may be too much demand and price can also go up perhaps?
Probably americans would suffer if government would confiscate their funds from mtgox accounts.
probablly nothing, none of the other exchanges can do enough volume to make the price go haywire like gox can.
These actions seem to be causing the start of a U.S. government created pump and dump cycle. Accidental or not, that'd be interesting. (grin)
Mtgox is sh!t is anyway. Most probably the price will collapse. And that is the great time to buy cause the price will increase very soon.
Vikerus, do you realize that "the market" is actually people? That means "the market" is comprised not only of rational people like you and me --which would actually shrug it off if Mt.Gox goes away-- but also speculators, scammers, fools, people without a clue, people waiting to manipulate the price, etc. A substantial part of the Bitcoin market is irrational.
The price would probably get killed since it's the number one exchange, but it is still a 3rd party, I'm sure another would pop up (or one existing one would get more customers) and it would restabilize
I don't see how it would lose value. Seems retarded that just cause the exchange of coins on one market is removed that people become incapable of working around such a simple road block. Seriously it's like everyone is programmed to think that is just the way it is. And as soon as something remotely out of their hands happens the sky begins falling. Prices aren't volatile, people are. And the sooner we all learn to regulate fear of market collapse the sooner we will have the "Market" off our backs. Instead of the market deciding our moves. We should be actively deciding how the market moves.
I'm sure this seems a retarded point to an "economist"
But I don't think it's without its truth.
Now add the sudden cessation of the SatoshiDice effect.
[...]because I completely sold out a few days ago and won't be going back in until the price tanks or someone challenges Bitcoin legally being a currency in court and wins.
Never sell all your coins o,O
Probably cause a short term destabilizing situation for all crypto currencies, at a minimum.
The market obviously thinks MtGox should die. It totally boggles my mind, but the price is spiking a little bit, going over $120 -- this might be related to some very recent and major progressions in merchant adoption, or that SR is functioning properly again, but the price did hold pretty steady while the Gox news broke and worsened. I guess we'll see $1000 coins when all the non-compliant exchanges open to US customers (just about all of them) are shut down with funds seized. MtGox probably will die within the next couple years between the bank seizures, Dwolla severing, and valid-seeming $75m lawsuit. If it's CoinLab which kills them, they might at least compensate shafted customers with CL-USD/CL-BTC. Idunno, though. I apparently over-reacted, because I completely sold out a few days ago and won't be going back in until the price tanks or someone challenges Bitcoin legally being a currency in court and wins.
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