And to the ground we go.
New bottom at almost 200$ and still falling
If it breaks 200$ il will be really bloody.
And there is still no gox news lol.
It must be part of their plan.
Edit: 200$ broke! Next stop 150$ ?
Edit2: 150$ wall down, next stop 1$ ?
Topic: Why is MT. GOX selling at $300? (Read 1984 times)
Very interesting bot.
The situation has lasted for more than 1 week, long enough for every panic seller to sell their coins earlier at a high price. 248 is a very low price, those who have sold at $400 or $300 must be holding their fiat waiting for withdrawal. Since there is only a few hours that Gox will release the announcement, whoever has coins left will wait and see what it will say and decide. Selling at this time and price is by no means a good idea.
There must be something unusual happening under the water.
The situation has lasted for more than 1 week, long enough for every panic seller to sell their coins earlier at a high price. 248 is a very low price, those who have sold at $400 or $300 must be holding their fiat waiting for withdrawal. Since there is only a few hours that Gox will release the announcement, whoever has coins left will wait and see what it will say and decide. Selling at this time and price is by no means a good idea.
There must be something unusual happening under the water.
The bot seems to sell at the "low" value. Now it is selling at 248.15$
It has been over 24hours now that it is continuously selling this way...
Gox 24H volume is around 40K according to bitcoincharts.
The bot has probably already sold around 15K of that volume and it is still selling.
It has been over 24hours now that it is continuously selling this way...
Gox 24H volume is around 40K according to bitcoincharts.
The bot has probably already sold around 15K of that volume and it is still selling.
Am I the only one who does not understand the gox market at all ?
Despite BTC withdraw issues there is more chance to get coins out of gox rather than waiting for money withdrawal which may take at least 3 months considering how many people have withdrawn.
Because of that prices should not have dropped as much as what we currently see.
It should be around 80% BTC market price, not at 40%.
Moreover, and to explain that, I have the impression that peoples making prices go down have illimited coins.
For example, I have been watching gox charts for all day and there is a bot that ALWAYS sell to maintain the price at 261.23$
When I say 261.23$ it is not 261.22$ or anything under it, it is that EXACT price.
One buy order for 800BTC has lasted the whole day (more than 10 hours) at 261.21$ and as soon as the buy order was put at 261.3$ it got eat by the bot.
The bot has infinite coin ? What is the purpose of this bot ? Is it just a coincidence ? By now it has sold more than 30k coins during 13h.
I think there is definetly something weird with gox buy and sell orders.
Despite BTC withdraw issues there is more chance to get coins out of gox rather than waiting for money withdrawal which may take at least 3 months considering how many people have withdrawn.
Because of that prices should not have dropped as much as what we currently see.
It should be around 80% BTC market price, not at 40%.
Moreover, and to explain that, I have the impression that peoples making prices go down have illimited coins.
For example, I have been watching gox charts for all day and there is a bot that ALWAYS sell to maintain the price at 261.23$
When I say 261.23$ it is not 261.22$ or anything under it, it is that EXACT price.
One buy order for 800BTC has lasted the whole day (more than 10 hours) at 261.21$ and as soon as the buy order was put at 261.3$ it got eat by the bot.
The bot has infinite coin ? What is the purpose of this bot ? Is it just a coincidence ? By now it has sold more than 30k coins during 13h.
I think there is definetly something weird with gox buy and sell orders.
Agree, there are always huge sell orders these days, seems like someone has infinite coins.
Anyone with a normal mind will not do like that.
If he is so sure that Gox will die then why not sell them one week ago at the price of $500, or $400?
Infinite coins and continually making the market going down to the latest lower value despite a lot of buy orders and pump...
Whereas the market clearly wants to go up...
How is it even possible ? >_<
At this rate it can go down to 200$ since people panic sell and help the bot break buy walls...
It's entirely likely the bot is just trading an EMA or something. It might look like it's got infinite coins, but it's more likely there just aren't that many buyers. Once people start pumping money back into gox it'll be washed over and find a new place to trade.
Either that, or someone has set it to just sell some large portion of coins for 261.23 and don't want it to show up on the radar.
Am I the only one who does not understand the gox market at all ?
Despite BTC withdraw issues there is more chance to get coins out of gox rather than waiting for money withdrawal which may take at least 3 months considering how many people have withdrawn.
Because of that prices should not have dropped as much as what we currently see.
It should be around 80% BTC market price, not at 40%.
Moreover, and to explain that, I have the impression that peoples making prices go down have illimited coins.
For example, I have been watching gox charts for all day and there is a bot that ALWAYS sell to maintain the price at 261.23$
When I say 261.23$ it is not 261.22$ or anything under it, it is that EXACT price.
One buy order for 800BTC has lasted the whole day (more than 10 hours) at 261.21$ and as soon as the buy order was put at 261.3$ it got eat by the bot.
The bot has infinite coin ? What is the purpose of this bot ? Is it just a coincidence ? By now it has sold more than 30k coins during 13h.
I think there is definetly something weird with gox buy and sell orders.
Despite BTC withdraw issues there is more chance to get coins out of gox rather than waiting for money withdrawal which may take at least 3 months considering how many people have withdrawn.
Because of that prices should not have dropped as much as what we currently see.
It should be around 80% BTC market price, not at 40%.
Moreover, and to explain that, I have the impression that peoples making prices go down have illimited coins.
For example, I have been watching gox charts for all day and there is a bot that ALWAYS sell to maintain the price at 261.23$
When I say 261.23$ it is not 261.22$ or anything under it, it is that EXACT price.
One buy order for 800BTC has lasted the whole day (more than 10 hours) at 261.21$ and as soon as the buy order was put at 261.3$ it got eat by the bot.
The bot has infinite coin ? What is the purpose of this bot ? Is it just a coincidence ? By now it has sold more than 30k coins during 13h.
I think there is definetly something weird with gox buy and sell orders.
Agree, there are always huge sell orders these days, seems like someone has infinite coins.
Anyone with a normal mind will not do like that.
If he is so sure that Gox will die then why not sell them one week ago at the price of $500, or $400?
Infinite coins and continually making the market going down to the latest lower value despite a lot of buy orders and pump...
Whereas the market clearly wants to go up...
How is it even possible ? >_<
At this rate it can go down to 200$ since people panic sell and help the bot break buy walls...
Here is another interesting fact.
I have received a promo e-mail from MtGox around end of December/early January offering a 25% discount on transaction fees....
They were trying to attract funds a month ago. Coincidence or premeditation?
I have received a promo e-mail from MtGox around end of December/early January offering a 25% discount on transaction fees....
They were trying to attract funds a month ago. Coincidence or premeditation?
Am I the only one who does not understand the gox market at all ?
Despite BTC withdraw issues there is more chance to get coins out of gox rather than waiting for money withdrawal which may take at least 3 months considering how many people have withdrawn.
Because of that prices should not have dropped as much as what we currently see.
It should be around 80% BTC market price, not at 40%.
Moreover, and to explain that, I have the impression that peoples making prices go down have illimited coins.
For example, I have been watching gox charts for all day and there is a bot that ALWAYS sell to maintain the price at 261.23$
When I say 261.23$ it is not 261.22$ or anything under it, it is that EXACT price.
One buy order for 800BTC has lasted the whole day (more than 10 hours) at 261.21$ and as soon as the buy order was put at 261.3$ it got eat by the bot.
The bot has infinite coin ? What is the purpose of this bot ? Is it just a coincidence ? By now it has sold more than 30k coins during 13h.
I think there is definetly something weird with gox buy and sell orders.
Despite BTC withdraw issues there is more chance to get coins out of gox rather than waiting for money withdrawal which may take at least 3 months considering how many people have withdrawn.
Because of that prices should not have dropped as much as what we currently see.
It should be around 80% BTC market price, not at 40%.
Moreover, and to explain that, I have the impression that peoples making prices go down have illimited coins.
For example, I have been watching gox charts for all day and there is a bot that ALWAYS sell to maintain the price at 261.23$
When I say 261.23$ it is not 261.22$ or anything under it, it is that EXACT price.
One buy order for 800BTC has lasted the whole day (more than 10 hours) at 261.21$ and as soon as the buy order was put at 261.3$ it got eat by the bot.
The bot has infinite coin ? What is the purpose of this bot ? Is it just a coincidence ? By now it has sold more than 30k coins during 13h.
I think there is definetly something weird with gox buy and sell orders.
Agree, there are always huge sell orders these days, seems like someone has infinite coins.
Anyone with a normal mind will not do like that.
If he is so sure that Gox will die then why not sell them one week ago at the price of $500, or $400?
That bot you speak of laely, to me (not a big player in btc by any definition) proves Gox's hand in controlling the market/frauding the customers. I know people who have a better grasp on this sort of thing should be able to differ market manipulations and legitimate business,but we've all seen the stepped/throttled charts before..
If it is really a gox bot and they are doing market manipulation, why continuing selling few hours before their thursday announce ?They are hoping to make prices go even lower with their announce to buy back cheap later ?
Seriously, this is really scary to see the bot making the price going down back to 232.23$, buying all coins in between, everytime someone is trying to pump the price up or when just putting a buy order > 232.23$
To sell on gox you have to offer a ridiculously low price. As nobody wants to use gox. Because it's terrible 
That's right. Sorry for I was wrong indeed. But MtGox might manipulate the price a bit too
I just recommend to don't deposit any money into MtGox. Or do it and risk
No risk no fun?
Too much risk maybe ... or ?
Cant get funds in, cant get funds out, and apparently now cant get BTC out.Remember, the numbers a website shows you are just numbers.. there's no telling whats really going on behind the screen with your account.
A $5000000 USD, 50000 BTC Gox balance is worth less than the pixels its displayed on if you never have access to those 'funds'.
So Gox dollars are different than non gox dollars and gox btc differ from free btc in the concept that we can prove non gox dollars and non gox btc actually exist.
People are just trading gox dollars and gox coins back and forth hoping to be able to cash out either at some point. Doubtful, from my outsider perspective.
That bot you speak of laely, to me (not a big player in btc by any definition) proves Gox's hand in controlling the market/frauding the customers. I know people who have a better grasp on this sort of thing should be able to differ market manipulations and legitimate business,but we've all seen the stepped/throttled charts before..
A $5000000 USD, 50000 BTC Gox balance is worth less than the pixels its displayed on if you never have access to those 'funds'.
So Gox dollars are different than non gox dollars and gox btc differ from free btc in the concept that we can prove non gox dollars and non gox btc actually exist.
People are just trading gox dollars and gox coins back and forth hoping to be able to cash out either at some point. Doubtful, from my outsider perspective.
That bot you speak of laely, to me (not a big player in btc by any definition) proves Gox's hand in controlling the market/frauding the customers. I know people who have a better grasp on this sort of thing should be able to differ market manipulations and legitimate business,but we've all seen the stepped/throttled charts before..
Am I the only one who does not understand the gox market at all ?
Despite BTC withdraw issues there is more chance to get coins out of gox rather than waiting for money withdrawal which may take at least 3 months considering how many people have withdrawn.
Because of that prices should not have dropped as much as what we currently see.
It should be around 80% BTC market price, not at 40%.
Moreover, and to explain that, I have the impression that peoples making prices go down have illimited coins.
For example, I have been watching gox charts for all day and there is a bot that ALWAYS sell to maintain the price at 261.23$
When I say 261.23$ it is not 261.22$ or anything under it, it is that EXACT price.
One buy order for 800BTC has lasted the whole day (more than 10 hours) at 261.21$ and as soon as the buy order was put at 261.3$ it got eat by the bot.
The bot has infinite coin ? What is the purpose of this bot ? Is it just a coincidence ? By now it has sold more than 30k coins during 13h.
I think there is definetly something weird with gox buy and sell orders.
Despite BTC withdraw issues there is more chance to get coins out of gox rather than waiting for money withdrawal which may take at least 3 months considering how many people have withdrawn.
Because of that prices should not have dropped as much as what we currently see.
It should be around 80% BTC market price, not at 40%.
Moreover, and to explain that, I have the impression that peoples making prices go down have illimited coins.
For example, I have been watching gox charts for all day and there is a bot that ALWAYS sell to maintain the price at 261.23$
When I say 261.23$ it is not 261.22$ or anything under it, it is that EXACT price.
One buy order for 800BTC has lasted the whole day (more than 10 hours) at 261.21$ and as soon as the buy order was put at 261.3$ it got eat by the bot.
The bot has infinite coin ? What is the purpose of this bot ? Is it just a coincidence ? By now it has sold more than 30k coins during 13h.
I think there is definetly something weird with gox buy and sell orders.
To sell on gox you have to offer a ridiculously low price. As nobody wants to use gox. Because it's terrible
Right. When you can't get anything out, the price is meaningless. Although there are some people trying to make a market in GoxBucks and GoxCoins.
That's what I am talking about
so they are playing with customers to catch them like a fly. And 50/50 will you withdraw or not I wouldn't say that. Gox doesn't set the price, the prices at which people buy and sell does. The current price is just a piece of information that represents the sum of information available to the market as a whole. Thelow valuation has little to do with Gox trying to retain customers, and everything to do with the information available to traders, combined with collective sentiment regarding the exchange and bitcoin itself.
Think of the Gox price as a bet on the likelihood of getting your money out of Gox. Would you pay full price when you may never be able to withdraw?
That's what I am talking about
so they are playing with customers to catch them like a fly. And 50/50 will you withdraw or not Is Mt.Gox selling so low right now so they pad their pockets and have your buy order fail and basically steal your money? The only reason I can see an exchange selling at such a low price is that they are counting on failing most of the purchases to take your money and really never give you your bitcoin to begin with. Too good to be true really applies here. Maybe they are only processing %10 of the buys and then %90 stealing everyone's money? How else can be so cheap?
MtGox doesn't buy or sell anything. They simply mediate between traders. Consequently, the price is set by the traders placing their bids and asks. The current price is simply a reflection of the confidence that the traders have about which type of currency they have the best chance to withdraw successfully. Previously, Bitcoins traded at a premium to other exchanges, indicating that traders had little faith in being able to withdraw fiat currencies. Right now, Bitcoin is trading at a significant discount, which means that right now traders have even less faith in Bitcoin-withdrawals being reenabled quickly.
Think of the Gox price as a bet on the likelihood of getting your money out of Gox. Would you pay full price when you may never be able to withdraw?
Is Mt.Gox selling so low right now so they pad their pockets and have your buy order fail and basically steal your money? The only reason I can see an exchange selling at such a low price is that they are counting on failing most of the purchases to take your money and really never give you your bitcoin to begin with. Too good to be true really applies here. Maybe they are only processing %10 of the buys and then %90 stealing everyone's money? How else can be so cheap?
I see few options:
1. MtGox believe that making BTC low price they will keep customers around and they will get a chance to rebuild and get better
2. They think that, but at the end they will fail
and steal your money.am I right?
Is Mt.Gox selling so low right now so they pad their pockets and have your buy order fail and basically steal your money? The only reason I can see an exchange selling at such a low price is that they are counting on failing most of the purchases to take your money and really never give you your bitcoin to begin with. Too good to be true really applies here. Maybe they are only processing %10 of the buys and then %90 stealing everyone's money? How else can be so cheap?
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