Bitcoin Forum

Would like to read some thoughts. Thanks.

Here is a tip, check out Bter.com - that is where the next growth is going to be, the Chinese market, and they not only support LTC, but FTC, FRC and PPC - the world keeps moving!

Bter is just a crypto to crypto exchange aren't they? as far as i understand there is no way to get pocket cash in or out... you have to use another exchange to do that part, i may be wrong but that is what i have noticed

as for LTC on gox I think it will be a very good and a very bad thing... when it hits gox the price will go up a bunch ($5-$6/ltc) but as soon as it does the LTC market will crash as since they announced it every LTC miner has been holding there stock.... there is going to be such a MASSIVE DUMP it will make the $259BTC crash look like Peanuts... I predict 3 months for it to recover back to $4 after the crash, but then we will see the the price climb.  the thing is we will never see the 1/4btc price until both have reached the end of there new coin creation

I do not agree at all, most miners i know dump the lot as soon as they mine it, most of them are burning cash for power, hw, ect... sure there will be a dump at MtGox but it will not cresh

'LTC will come to GOX eventually' will be the words written on my tombstone.

Any plans on dying soon?

LTC doesn't need Gox.

I think that every coin would benefit from GOX

AGEAN LTC ON GOX
same story every day....

The way things are going for MTGox, its more likely that Litecoin is going to be better off elsewhere! ;)

There has been a lot of interesting movements with exchanges over the past few weeks, and if MTGox don't do something soon, they are going to just lose their privileged place in the bitcoin universe.

when talking to any of the miners at btc-e most of them say they are selling for power cost and holding the rest many of them are holding 2000LTC or more just waiting for gox i myself am holding 500LTC

There are a lot of people that only use Mt Gox, if they suddenly see a new coin ooooh shiny! Buy buy buy!

You honestly think there are people that are that stupid with their money? Seems like a violation of the efficient market hypothesis.

You honestly think there are people that are that stupid with their money? Seems like a violation of the efficient market hypothesis.

How else do you think people make money? The whole bitcoin, litecoin crypto coin is a scam a zero-sum game.

They're not going to add it soon because the trade volume isn't even high enough. To many people are hoarding coins they're going to ruin the entire monetary system.

B*llsh*t.

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MtGox · 11,862 like this
23 hours ago · ..




Dear Mt. Gox Customers and Bitcoiners,

 The reaction since yesterday’s statement regarding the temporary suspension of U.S. dollar withdrawals has had mixed reactions, and raised more than a few questions about why we had to take this step right now. Rather than be subject to inaccurate speculation we’d like to clarify some points here. Due to pending matters we are unable to get into everything in great detail, though we’d certainly love to and are looking forward to the opportunity.

 1) The problem with the U.S. withdrawals (and even other currencies for that matter) is that our bank can no longer handle the volume of withdrawals. They struggled in the last two months, and the increase due to the Dwolla separation has made it increasingly more difficult. The pressure we brought onto the bank’s resources finally gave in, and we are now working with them to find an alternative method (hence the suspension). We would have preferred to give notice if we were able to, but it was sudden for us as well.

 2) We are now working with new banks and alternative methods for transmitting money to our customers. This does not mean we are stopping entirely within the next two weeks, but it will be slower than we would like. We are literally going to use our manpower to process withdrawals ourselves, manually. This will take more time, but we are dedicated to doing as many per day as possible. We announced a suspension in order to manage expectations while we deliver at a temporary reduced rate. Our goal is to have a new system set up in the next weeks with clarity for both the banks and for our customers.

 3) Our previous release was rather vague, but for a reason. Mainly, we don't want to upset our bank! They do great work, but our kind of business is completely new to the banking industry. Processing international wires does not just involve pushing a button. It requires real manpower processing everything individually, even in this modern computer age. While Bitcoin's power lies in its ability to transfer fast and securely through software, the rest of the financial world does not operate like that (contrary to popular opinion). Money is surprisingly analog in many ways, and scarily digital in others.

 4) Every customer’s funds are safe, sound, and accounted for. In fact, in our dealings with the Japanese financial regulators we have been assured that we are not under local pressure or suspicion and can operate as usual within normal legal frameworks.

 5) Mt. Gox is certainly not a martyr, but it would be hard to argue that we aren’t "taking one for the team" as far as Bitcoin is concerned. We are a big target, and are absorbing the frustrations of Bitcoiners, regulators, banks, and a media that still doesn't quite understand what Bitcoin is. This is a job we are happy to fill, and not just because we are compensated for it. Our hope is that, once Bitcoin finds its place, we will be able to say that we made a difference in sorting it all out in the early days. New exchanges, business models, merchants, traders, and consumers are rising up to innovate and create a whole new way of doing business. A lot of lawyers are getting new cars in the meantime too.

6) As risky as it is to invoke the name of Litecoin (LTC???), we must apologize for not keeping everyone up to date. The fact is that the current situation means a continued delay, but for good reasons. We’re looking at July right now, though that depends on a few things. Mainly, we want to do things correctly from the beginning.

 7) The new trading engine is finished, is smokin’ fast, and is currently undergoing bench tests. We’re looking forward to deploying it very soon.

 While not the most in-depth update we'd like to give, we hope that it has at least clarified a few things. In the next few weeks we are planning to do another AMA on Reddit when we’ll hopefully be able to answer many more questions and also shed some light on what’s been going on at Mt. Gox these past months. Thank you for your patience and support.

Yeah, well, supposedly it is July now.  This is from Gox's facebook page 20+ hrs ago

The engine refers to Bitcoin

the new treading engine is for trading, Actually your post doesn't make any sense, I have no idea how to explain it to you.

It refers to the bitcoin trading engine not the litecoin trading engine

I don't think it will happen soon. Mtgox is in trouble with Bitcoin.

6) As risky as it is to invoke the name of Litecoin (LTC???), we must apologize for not keeping everyone up to date. The fact is that the current situation means a continued delay, but for good reasons. We’re looking at July right now, though that depends on a few things. Mainly, we want to do things correctly from the beginning.

the new treading engine is for trading

New treading engine?

http://iambrony.steeph.tp-radio.de/mlp/gif/173472%20-%20animated%20gotta_go_spike%20running%20spike.gif

I don't believe they're adding it on any time soon, but perhaps within the year.

What the hell is this:
twitter.com/MtGox/status/351003666498592768

Mtgox is not the most reliable site once again.

Gox is perfectly correct when it comes to announcements. It is the LTC retard horde idea of what Gox said that is almost never correct.

They don't want to confirm anything because they know anything they say will affect the LTC market.

It'll come soon enough

What the hell is this:
twitter.com/MtGox/status/351003666498592768

Mtgox is not the most reliable site once again.