Bitcoin Forum

(Certain people are counting how many threads I create in relation to how much I post...but you see, sometimes it's necessary!)

Mt. Gox is up!

Don't look now -- but there's blood (and sharks) in the water at Tradehill right now!

This morning it was holding rather steady at 17.20.

Then Mt. Gox opened, and it fell to around 16.90, then 16.70.

And just now -- when the first BTC from Mt. Gox are hitting peoples' wallets -- it fell to 16.10.

It begins.

Last trade on MtGox was 17.51, which is a bargain IMHO.  Since May BTCs have doubled in value roughly every 3-4 weeks.  Remember June 1 it was at 9 bux? :)

Not really a huge selloff yet considering the thinner market at Tradehill...

OP: Some threads are indeed necessary, which is why when not called out I would not have said anything. On another note, "Holding steady" is not the proper term for a time window such as "this morning". I don't disagree that some mtgox folks might be pulling their coins and dropping them on TH, but it's not like TH has been some bastion of price steadiness that gox is now sieging. The price was 16.20 on 6/24/2011 20:20 CST. That's less than 12 hours ago. Must everything be so hysterical?


Last trade on MtGox was over a week ago, the current volume of trade is 0. We'll see when it opens up if that value changes.

Someone has to fill every trade. Mt. Gox isn't selling any at 17.51. It's an artificial number.

We'll see how fast that 17.51 becomes something much higher -- or lower -- very shortly.

I think the market at Tradehill is going to get a lot heavier, now that people can get their money/BTC out of Mt. Gox.

Instead of an explosion (of built-up selling pressure), it looks like the market is going to "let off some steam" less dramatically, via other exchanges such as Bitcoin7 and Tradehill.

By the time Mt. Gox opens Sunday at 3:00 CDT, anyone who was dying to sell will have already done so.

As someone pointed out, the other exchanges are keeping quite a decent price on BTC -- it's not like they're going to zero or something.

lots of people buying bitcoins above 2 cents per coin have clearly not heard of dutch tulips

considering I still don't even have access to my account even though i gave them my dwolla account number, my previous balance before getting hacked, knowing my old complex password, and having full control over my email address that was in fact registered with my account... I cant have a mass sell off since I cant get to my $$  

If the market opens and I still don't have access i'm going to be a bit irritated to say the least.  If MTgox ever wants to get 1 more btc from me they better not open before i get access back.

I feel the same exact way. Talks are already underway about a fairly large class action lawsuit.

I just withdrew my 200-400 into my dwolla account.

I'm going to keep trading on the Dox.

Are tulips anonymous or limited in absolute quantity by inherent design?
How many tulips can I store in my wallet?

The reference to historical events is failure in itself. They have nothing in common.

You might just as well compare the price of gold to tulips & wonder why it has been so high for decades & why the other one crashed hundreds of years ago.

Still don't have access to my account as well.

Edit:
Thank God!

I have access.

Well, after holding around $16 most of the day, the market BTC price at Tradehill has taken a turn downward.

Currently at 14.4 and falling.

I guess we have to get this out of the system before we can move forward...

I guess mt gox never learn from their mistake.
Now, that shows a lot for a would be hacker. The entire structure, and the exact line of code.
Mt. Gox is just waiting for another hack to happen.
I would suggest everyone to move all their BTC away from Mt. Gox.

I pulled every single cent I had (both BTC and USD) out of Mt.Gox the minute I was able to login. I moved a very large sum over to Tradehill.

It's inevitable. Mt. Gox will never be the same again.

+1
Agreed.

They couldn't have hurt themselves more if they tried. 

The real icing on the cake was "Here's access to your money....but NO you can't trade. I refuse to let you trade!"

...as if there aren't other trading sites...

Their support forum looked better than their website.

That's because the support forum was outsourced to Zendesk (http://www.zendesk.com/), which runs help, support, and ticket systems. Which is why the Mt. Gox site showed the Zendesk logo.

Trading should be open after 30 minutes from now. Let's see if it will get instantly hacked (just kidding)  :D

What that tells us is that Mt. Gox is accessing their database directly from the user-facing PHP server. That's common web site practice, but it's not normal financial practice.  In the financial world, there's a front-end system that handles the web users, and a back-end system that handles the money. The connection between them is narrow, highly secured, not accessible from the external Internet, and only allows the minimum necessary operations.

Any word on when it'll be open for trade?

Looks to me like it's up right now.

It's "up" but you can't buy or sell.

Who cares if they're up for trading? The question is whether they're transferring money (not just Bitcoins) out.

Has anyone been able to receive US$ from Mt. Gox since the restart?

Until money starts coming out with no delays or excuses, don't put anything in. 

Waiting for 8 hours for the LR withdraw. No comments from support