Topic: Why are you going back to MtGox? (Read 5144 times)
I'll admit first, I'm now addicted to Gox during the past week
Yes, Gox's lack of communication is about as unacceptable as it gets but with the TH market remaining stable to a degree throughout, and Gox users being given large trade discounts, I do not see why anybody who has taken the risk all this time at Gox is going to sell out now. Even if they leave Gox and go to another market out of principle, they will still be trading.
As pointed out in this post by another, they've added additional security measures, caused more volume on TH which is big because now you can get a trade executed unlike before which was my major concern due to such a small volume of trading, along with other benefits like a 2nd viable market to use.
Some one else pointed out that the traders at Gox will sit and wait to see who does what and then after a while if TH remains stable may decide to use similar values as a starting point.
We see more volatility over media coverage but even that is not causing too much change.
Just common sense although that may have absolutely no place in the BTC arena.
As pointed out in this post by another, they've added additional security measures, caused more volume on TH which is big because now you can get a trade executed unlike before which was my major concern due to such a small volume of trading, along with other benefits like a 2nd viable market to use.
Some one else pointed out that the traders at Gox will sit and wait to see who does what and then after a while if TH remains stable may decide to use similar values as a starting point.
We see more volatility over media coverage but even that is not causing too much change.
Just common sense although that may have absolutely no place in the BTC arena.
None of your money is secured or guaranteed at any of the exchanges. All bitcoin exchanges are unregulated. You accept the risk of potentially (e.g., probably) losing some or all of your assets. I personally think anyone who transfers sizeable capital into holding accounts at ANY bitcoin exchange is a fool. I'm not even taking into consideration all of the serious problems with investing in bitcoin in its current state (early beta, early beta, early beta... lack of wallet security, 99% of market volume is speculation, price has increased like dutch tulips and makes the dotcom boom look like the great depression, the fact that the entire blockchain will be rehashable in 3 hours by the average kid's computer in five years, etc)
I changed my mind about bitcoin after doing more research
I changed my mind about bitcoin after doing more research
Because I've come to enjoy getting Goxed. It isn't so bad once you get used to it. It can be quite pleasurable from the rear, in fact.
Really.
Really.
I have no choice. Coins I deposited right before the crash are still not showing up in my account. So, I have to wait. And I'm getting more worried by the minute.
"Because thats where the money is!"
this crash could happen today when Mt . Gox resumes trading
More experience, helped build the market, helped bitcoin get to where it is today.
We'll see what happens in the following week.
We'll see what happens in the following week.
And how about you look at actual data. The last 5 days of mtgox was 13.5 - 18. TH last 5 days was 8 - 17.5
TH price started to fall the very instant MyGox started to handle BTC withdrawals - people went to sell on TH and price fell obviously.well I guess $15 is where miners refuse to sell any lower. when speculators quit because of no price variance, there will be no one left to support this bubble and price will fall back to $1 ber BTC. should happen pretty soon ...
This is a very interesting theory. We can expect miner's to keep raising their reserve price as difficulty increases, but that price won't be supported unless there is a real use for bitcoins.
LOL @ the idea that miners can just accept prices. If the price starts falling, they'll unload at any price they can get. Bitcoin is considerably different than a lot of other economies because you can't add resources to produce more of them (at least not for long). We have a fixed supply being added. This means demand will drive the price for those coins.
The other big variable is the hoarded coins. There are a lot of speculators. Speculators will eventually want to sell their coins. If this ever happens all at once, it will be a huge crash. The only question is if this will happen all at once or not.
And how about you look at actual data. The last 5 days of mtgox was 13.5 - 18. TH last 5 days was 8 - 17.5
TH price started to fall the very instant MyGox started to handle BTC withdrawals - people went to sell on TH and price fell obviously.well I guess $15 is where miners refuse to sell any lower. when speculators quit because of no price variance, there will be no one left to support this bubble and price will fall back to $1 ber BTC. should happen pretty soon ...
This is a very interesting theory. We can expect miner's to keep raising their reserve price as difficulty increases, but that price won't be supported unless there is a real use for bitcoins.
And how about you look at actual data. The last 5 days of mtgox was 13.5 - 18. TH last 5 days was 8 - 17.5
TH price started to fall the very instant MyGox started to handle BTC withdrawals - people went to sell on TH and price fell obviously.well I guess $15 is where miners refuse to sell any lower. when speculators quit because of no price variance, there will be no one left to support this bubble and price will fall back to $1 ber BTC. should happen pretty soon ...
because TradeHill does not have USD withdrawal into LR, and LR market is basically dead (i refuse to sell for $12.5 per BTC), and bitcoin7 is also dead (or unborn, whichever you prefer).
MtGox has no real competitors, sadly.
MtGox has no real competitors, sadly.
If money transfers are already ok, what else could/should have a market to be "suitable for EU"? Apart from the obvious "have its price stated in euros instead of dollars" 
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Well, I use mtgox because of the eurotransfer (SEPA) with low fees, big volume and... that's it
Btw I had hard time searching for a market suitable for EU, could you recommend some ?
Btw I had hard time searching for a market suitable for EU, could you recommend some ?
I'd like to hear peoples reasons for going back to MtGox. In my opinion, their handling of the situation has been haphazard at best. It seems they've been very disingenuous about the exact circumstances of the break in. With other exchangers out there, what is pushing people back to MtGox?
Everyone else sucks worse. Mt. Gox is the tallest midget.
SEPA zone withdraws are almost free.
I refuse to pay 12-22 Euro for that (looking @ you Bitcoin 7).
I refuse to pay 12-22 Euro for that (looking @ you Bitcoin 7).
cus i love their charts!
what? MtGox lets you fake the entire orderbook by letting you enter orders that never get executed because you dont have the funds?
The orders are inactive as long as the funds for them are not there.
Yeah - I always assumed they were just put in as some sort of pending order.
I also emailed tradehill about allowing a similar thing. For example - it takes a while for your BTC deposit to be confirmed at tradehill - but it'd be nice to setup a sell order at the same time as arranging the deposit.
The tradehill folks sounded positive on the idea and responded: "That way, you can leave a few open orders, monitor the different exchanges and make a transfer to the exchange you choose, all while keeping your BTC in your wallet."
..which is a usecase I hadn't thought of - but I guess that could be good.
They did give us enough time to change our other accounts we used the same password with, even if they are lying about something. After logging in except for the missing deal I needed, everything was as expected.
Honestly though, I'm in it for the kicks, it's better than porn, videogames and tacos.
The updates were epic trolling, hats off to that, and I'm assuming they won't open today because of some discrepancies I read about last night here. In fact I would be very surprised if they did open today, even as much as those discrepancies don't affect me, it's probably going to affect some unlucky bastard. However I will be eagerly awaiting the mexican standoff between buyers and sellers. Good chance the first 15 or so minutes will be a stand still. About the lying part, it's not so much to me, anyone who knows even a little about business knows no one is humble when it comes to business. The scum of the earth are in business & finance, it's all slight of hand and/or manipulation to some degree. When it comes to business and money can't trust anyone at all. Loyalty is rented. Know who you are dealing with and just avoid being the prey.
Eventually we will have our bitcoin addresses tattooed on us. xD fuck all.
Before the security clusterfuck we where content with actually very good customer service (at least for us) at mtgox.
I think they deserve sort of second chance, but at same time now we know it is often not wise to place all your funds in one place - all eggs in one basket.
Some using other exchanges too is a good option.
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