Bitcoin Forum

Buying or selling?

eating popcorn.

It depends on what really happened, but I will likely be buying.  

edit:  It won't be open until late and I fly to Vegas early, so probably nothing. 

Withdrawing my $, assuming the exchange does open and is solvent. =)

Sleeping.  Just like the Mt Gox people, completely oblivious to current events.

For me, it depends a bit on mtgox's communication about what has happened.

One issue is the leaked database.  They need to determine how this was done and remove that vulnerability.

Another issue is the 500k bitcoins.  Was the account accessed because of a leaked password?  Or was it from the XXS vulnerability that existed until this past week?  Or from some other source?

Basically, I need an idea of how much is the fault of their firewall crumbling before hackers and how much was beyond their control.



I definitely am concerned about my MtGox account.  I don't own many bitcoins -- so hackers wouldn't gain anything from getting through to my account -- but I have to be a good steward to my money.

mee too...

its 3 am here in europe and actually i want to see bruce wagner, http://onlyonetv.com/?page_id=178
jed/magic tux and the tradehill guy

but all that is on right now, are empty leather chairs :)

good night

Withdrawing my money and BTCs.

Buying AND Selling

VirWox is still open.

I am trading there :D

If I had just lost 25k bitcoins, I'd be looking at the Mt Gox hack very carefully.  Who knows how long the hackers had access to Mt Gox's password database?  We can't assume they broke in and instantly crashed the market.

 So, anyway, now I'm sure that hackers gain control over a significant amount of bitcoins somehow or other... The same hackers made the show crush and still nobody could guarantee that it was the last time ever... Nobody could dream about stability before long. I'd prefer to  withdraw most part of my funds now... But still on the wave. 

Buy the ticket, take the ride.

According to the statement that appears at their support page:

This. I was not trading before and I wont be trading after.

If there is anything left of my dough, which was in Mtgox-$ I'll buy bitcoins and stuff them back into the network where they belong. Then I'll try to improve my own security, which also sucks...

Trading Here: https://exchange.bitparking.com/main

like I'm doing now

Buying at the daily low, selling at the daily high.

+1
Doing your part to help calm the market.

 
It just halted bitcoin trading. I guess they'll try to filter their system from the fraudulent accounts.

haha i actually tried to look for a like button :s

Buying dips and chips  ;)

Are you kidding? This might end up being the last major buying opportunity ever... I'm planning on loading up when everyone else is selling and it will be glorious!

EDIT: (3/11/2013) I shouldn't have to say this, but the "it will be glorious" was my subtle hint this was a complete joke. The price tanked as some of my even older posts indicated I was afraid of (though for the wrong reasons, I thought Gox would get raided ala Pirate Bay or Megacoin-style).

With the skewed openings of TradeHill and Mt.Gox I think this is going to be extremely interesting. I am sure what happens at one will have an effect on the other.

Pretty pissed I am missing Tradehill opening due to a flight to Vegas. 

^yup yup,  see ya there ;D

As long as folks are making idle speculation, it seems like this is the growing pains/proving grounds for BTC.  If someone were stealing 500k BTC, and getting the exchanges shut down (at least temporarily), along with dropping the trading value of BTC. . .they'd get no financial boon.  So either the government or the Joker is having kicks on BTC market, obviously.

Fuck 'em, they're gonna have to try harder than that.

I guess many people will chicken out of bitcoin and sell cheap for the first hours, then i'll be buying.
After those few hours price will go up again and stabilize, then the sellers cry and i smile.

I agree with you, Unfortunatly, I only have $5.50 in my tradehill account to buy with. I guess I can hope the price falls all the way to .01-.02/btc.

Bet you 30BTC we won't see that :).

Yea, I should have put a  :P behind my post, I really don't think it's going to fall nearly that far.

Btw, shouldn't tradehill be open now, according to their website, they were going to start trading at 10:00 Eastern?

I'm withdrawing all my money. Mtgox is making good all the transactions which means they potentially don't have the money to pay people if they decide to pull all their money out. You'd be best doing it first to avoid getting screwed over later.

Mtgox is. Fine and your money is fine up to 1k per day

So after peopl withdrew large numbers of bitcoins to actual tangiable wallet files, you think its fine for mtgox to go "actually none of those transactions ever happened" despite the fact they're now out of pocket because of it?

This all sounds like a bank run.  Get your money out while you still can, and leave the poor saps who trust the bank/exchange hanging if they're not quick enough to withdraw.  Of course, every user that withdraws their money just pushes MtGox closer to the edge.

MtGox should in theory have 100% coverage for everyone's accounts, but the only way to tell is with publically disclosed independant auditing.

Would this be the first Bitcoin bankrun? Exciting!  ;D

It already touched $8. Made some me some coins, but now I'll retreat and find me some properly salted popcorn. ;D

In the aftermath of the crack, and after being at $10-$12 for a couple of minutes, it even went down to $5. Wouldn't be surprised if it were due to someone with a slow connection, that had pushed the button when the price was at the minimum.

Something that bitcoin is specifically designed to avoid due to non fractional lending but because mtgox is essentially issuing money because of this rollback it's actually perfectly likely that they don't have the money to back their website.

The same thing we do every night Pinky.  Try to take over the world!

Dumping 500 btc at open dark the. Buying back when it crashes lol see y'all at the scrimmage

Selling my 100btc i had in mtgox at 17, then buying back when the price drops below 10 because of the panic :P

It will go below 10 easy everyone is going to move away from mtgox for a while the volumes will be low and they will be easily manipulated

You know, there's always the other exchanges.

I only just set up a transfer to Dwolla. Hopefully, the price is still super low when the transfer is done so I can buy some coins while they are super low.

Nothing. I'm just going to watch very closely to see what happens next.

I'll start buying when all you pussies run away from MtGox and sell out your BTC  ;D

I'd like to buy if the price crashes too low, but I think I only have about $7 left in my account. Pity it takes so long to get money in. I reckon that will exacerbate the fall due to lots of people wanting out, and people not being able to get in fast enough to grab what they see as bargain prices.

If you have a bit of cash in Mt Gox. and some other exchanges, it will be a great opportunity for some arbitrage.

when is the exchange expected to open?

What you guys doing when the exchanges DON'T open?

Mining.