Bitcoin Forum

Trading is halted until 2013-04-12 02:00am UTC to allow the market to cooldown following the drop in price. Read more details on the support.
https://support.mtgox.com/entries/21519569-Market-Cooldown-for-12-hours

WTF.

And I just did a BitInstant transaction to scoop some more up.

"cooldown" ... "rollback" ... goxxed again!

They are decentralizing - moving users to other exchanges, consciously. For the better good.
...or they are using the precious dowtime for the inevitable system upgrade.

What time does it reopen is US CST?

9 p.m.

how many hours until..?

10

2AM UK time

UTC = GMT

Guess what pisses me off the most about it is that this morning I used BitInstant to fund to MtGox (usually I would just fund to my bitcoin addy) but I figured I'd give MtGox a shot to try and swipe up some at a lower price. By the time I went sent the Moneygram and came back to the office, it was suspended. Still haven't gotten a coupon code yet for MtGox to fund it. Guessing it will take a while if they're taking it offline at the moment. It mentions trading but doesn't mention about funding lags. All I know is Imma be pissed if the moneygram I did earlier magically "disappears" into the CyberWorld.

aaaaand as soon as I hit POST I get the email confirmation and MtGox is funded. LMAO. Now I just get to sit here and stare at my money on their site until it opens back up. blah blah blah blah blah.

Good to see this happen...

I completely disagree.  Although I do appreciate that Mt Gox sees they have major systems issues (web and db all on one server - who'd have seen THAT coming?), the idea that one Bitcoin service can decide out of the blue and publically communicate that "we're going to let the market cool down for 1/2 of a day" is a horrible message.

"Our systems can not take the load again today, sorry", maybe, but "lets just all chill out for a while is just insane.  What's going to happen now when the markets do open back up?

I hope one of the other exchanges proves themselves as competent and up to this challenge soon, and Mt Gox becomes an also ran.  Right now they look like the Magic the Gathering card trading platform they were, and obviously still are.

...and this is from someone sitting on the sidelines right now, not interested in buying or selling currently.

"cooldown", with emphasis on down. When you are in a bubble, the absolute last thing you want to do (if you want the price to continue to bubble) is to prevent the market from providing 10% gains every few minutes. Much like how a company can have absolutely obscene profits, but because the profits were only up 10% instead of 15% for the quarter the stock takes a nosedive, the same applies here.

That being said, I see this as a good thing because it will kill the bull's hope faster, allowing us to return to the mean and start the cycle all over again pretty soon instead of having to wait half a year for the slow decline to hit the bottom.

Yeah, better with a fast crash then the endless trickeling.

BST = UTC + 1

From the MtGox website https://support.mtgox.com/entries/21519569-Market-Cooldown-for-12-hours (https://support.mtgox.com/entries/21519569-Market-Cooldown-for-12-hours)


11.00am JST = 02:00am UTC = 03:00am BST


http://www.timeanddate.com/worldclock/converted.html?iso=20130412T11&p1=248&p2=136 (http://www.timeanddate.com/worldclock/converted.html?iso=20130412T11&p1=248&p2=136)

So, trading will resume at 3am UK time, not 2am.

Is there a good alternative to MtGox that isn't BTC-e?

There must be a more professional and reliable service. If there isn't then we need some competition in this arena quickly.

I like the BTC-e UI but I don't trust them. I have a bitcoin withdrawal with BTC-e that's been in limbo for 24 hours. Poor support. Also many accounts were hacked over the past few days.