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Title: MtGox USD withdrawals and deposits will soon be processed! Post by: adamstgBit on August 08, 2013, 01:26:44 AM When mtgox starts processing USD withdrawals and deposits, how do you think this will affect price? why?
Title: Re: MtGox withdrawals and deposits will soon be processed! Post by: Walsoraj on August 08, 2013, 01:27:48 AM When mtgox starts processing withdrawals and deposits, how do you think this will affect price? why? To da' moon. That's up, right? Title: Re: MtGox withdrawals and deposits will soon be processed! Post by: torba on August 08, 2013, 01:28:02 AM Withdraws and deposits as in fiat?
Title: Re: MtGox withdrawals and deposits will soon be processed! Post by: adamstgBit on August 08, 2013, 01:28:54 AM Withdraws and deposits as in fiat? yes. editing... I think the price will rocket! because everyone will get their dollars back, and they will want to buy bitcoins because of the good news. Title: Re: MtGox withdrawals and deposits will soon be processed! Post by: Wagner2014 on August 08, 2013, 01:29:30 AM One theory is the price will go down. Why? People will no longer have to buy coins to sell on other exchanges to get access to their funds. This will cause the demand for BTCs to go down. The price between exchanges should narrow.
Title: Re: MtGox USD withdrawals and deposits will soon be processed! Post by: humanitee on August 08, 2013, 01:40:27 AM FTFY Title: Re: MtGox USD withdrawals and deposits will soon be processed! Post by: Walsoraj on August 08, 2013, 01:43:44 AM i fix Title: Re: MtGox withdrawals and deposits will soon be processed! Post by: ardana123 on August 08, 2013, 02:00:59 AM One theory is the price will go down. Why? People will no longer have to buy coins to sell on other exchanges to get access to their funds. This will cause the demand for BTCs to go down. The price between exchanges should narrow. It is not rocket science to conclude then that once Ft. Gox deposit/withdrawal volume is able to fill the arb channel it will close, most likely closer to the Gox side than to the Bitstamp side, since Gox has the volume advantage. most logically they would meet somewhere in the middle Title: Re: MtGox USD withdrawals and deposits will soon be processed! Post by: adamstgBit on August 08, 2013, 02:09:15 AM incase anyone missed it, i will leave this here...
Quote from: MtGox link=https://www.mtgox.com/press_release_20130805.html Deposits and Withdrawal Update Finally, the issues with deposits and withdrawals from Mt. Gox are being relieved, but still not at the rate we want. For example it currently takes up to 10 days to process a deposit because our bank, upon receiving deposits, notifies us of the deposit but holds them for 7~10 days before transferring them to our account. This has always been the case, and we were still crediting customer accounts before receiving the funds ourselves, but some cases in which the bank subsequently rejected the deposits meant that we incurred significant losses. The risk is now too high for us to credit accounts prematurely. We are in the process of forming relationships with new partners, banks, and taking other steps -- hopefully we will not only be back where we were before we encountered these issues , but much further ahead. Title: Re: MtGox withdrawals and deposits will soon be processed! Post by: ardana123 on August 08, 2013, 02:36:46 AM One theory is the price will go down. Why? People will no longer have to buy coins to sell on other exchanges to get access to their funds. This will cause the demand for BTCs to go down. The price between exchanges should narrow. It is not rocket science to conclude then that once Ft. Gox deposit/withdrawal volume is able to fill the arb channel it will close, most likely closer to the Gox side than to the Bitstamp side, since Gox has the volume advantage. most logically they would meet somewhere in the middle They would—if Bitstamp can pull out the volume to do that. it's not a matter of "volume", if there's money to be made by easy arbitrage people would do it in a heartbeat, it's that simple. Title: Re: MtGox withdrawals and deposits will soon be processed! Post by: adamstgBit on August 08, 2013, 02:42:18 AM One theory is the price will go down. Why? People will no longer have to buy coins to sell on other exchanges to get access to their funds. This will cause the demand for BTCs to go down. The price between exchanges should narrow. It is not rocket science to conclude then that once Ft. Gox deposit/withdrawal volume is able to fill the arb channel it will close, most likely closer to the Gox side than to the Bitstamp side, since Gox has the volume advantage. most logically they would meet somewhere in the middle They would—if Bitstamp can pull out the volume to do that. it's not a matter of "volume", if there's money to be made by easy arbitrage people would do it in a heartbeat, it's that simple. well ya but their wouldn't be enough volume on stamps for everyone to arbitrage and their would be plenty of volume on gox to absorb the sales from arbitrage and so, price will will not meet in the middle. Title: Re: MtGox USD withdrawals and deposits will soon be processed! Post by: ardana123 on August 08, 2013, 02:59:41 AM in the past we've seen a gap of as little as 50c between bitstamp and gox, so i expect this time won't be different, although stretched out over a longer timespan due to bitstamps lower volume
Title: Re: MtGox USD withdrawals and deposits will soon be processed! Post by: adamstgBit on August 08, 2013, 03:03:50 AM in the past we've seen a gap of as little as 50c between bitstamp and gox, so i expect this time won't be different, although stretched out over a longer timespan due to bitstamps lower volume the gap will not close as long as mtGox isn't processing USD withdrawal. Title: Re: MtGox USD withdrawals and deposits will soon be processed! Post by: adamstgBit on August 08, 2013, 03:14:07 AM http://www.youtube.com/watch?v=t_16OQx_I8E
finally an easy way to double your money Title: Re: MtGox USD withdrawals and deposits will soon be processed! Post by: Frozenlock on August 08, 2013, 03:15:12 AM in the past we've seen a gap of as little as 50c between bitstamp and gox, so i expect this time won't be different, although stretched out over a longer timespan due to bitstamps lower volume the gap will not close as long as mtGox isn't processing USD withdrawal. Well said! :P Title: Re: MtGox USD withdrawals and deposits will soon be processed! Post by: Ares on August 08, 2013, 03:40:10 AM http://www.youtube.com/watch?v=t_16OQx_I8E finally an easy way to double your money what did I just watch Title: Re: MtGox USD withdrawals and deposits will soon be processed! Post by: adamstgBit on August 08, 2013, 03:47:56 AM http://www.youtube.com/watch?v=t_16OQx_I8E finally an easy way to double your money what did I just watch LOL can you imagine the rate of inflation, i can't this thing is beyond retarded... how can bitcoin fail when this is the alternative? Title: Re: MtGox USD withdrawals and deposits will soon be processed! Post by: bitcoin carpenter on August 08, 2013, 04:02:44 AM I just kept waiting for the punchline
Title: Re: MtGox USD withdrawals and deposits will soon be processed! Post by: Tzupy on August 08, 2013, 05:02:13 AM IF MtGox would normalize $ outflow, this would result in about 5 $ drop on MtGox, and maybe 2 $ rise on Bitstamp.
PS. This is an optimistic scenario. If someone had 20k BTC on MtGox and wanted to cash out now, a huge dump down to 98 $ would be the best choice, assuming MtGox would be processing his withdrawal in less than 10 days. But for now the small dumps of BTC transferred from MtGox to Bitstamp continues. Title: Re: MtGox USD withdrawals and deposits will soon be processed! Post by: jl2012 on August 08, 2013, 08:34:22 AM incase anyone missed it, i will leave this here... Quote from: MtGox link=https://www.mtgox.com/press_release_20130805.html Deposits and Withdrawal Update Finally, the issues with deposits and withdrawals from Mt. Gox are being relieved, but still not at the rate we want. For example it currently takes up to 10 days to process a deposit because our bank, upon receiving deposits, notifies us of the deposit but holds them for 7~10 days before transferring them to our account. This has always been the case, and we were still crediting customer accounts before receiving the funds ourselves, but some cases in which the bank subsequently rejected the deposits meant that we incurred significant losses. The risk is now too high for us to credit accounts prematurely. We are in the process of forming relationships with new partners, banks, and taking other steps -- hopefully we will not only be back where we were before we encountered these issues , but much further ahead. This is just BS. It mentions nothing about withdrawals Title: Re: MtGox USD withdrawals and deposits will soon be processed! Post by: Impaler on August 08, 2013, 09:15:51 AM I just kept waiting for the punchline Seriously, you have to be retarded to fall for such a system, it's almost like this is a parody of what Austrians think that Keynesians think. Title: Re: MtGox USD withdrawals and deposits will soon be processed! Post by: johnyj on August 08, 2013, 10:02:30 AM I think MTGOX is doing some kind of financial innovation: Forever delay the fiat withdraw, which force people to either establish other exchanges (more exchanges = better bitcoin eco system) or spend them directly
Same as government forcing people to use fiat money, we could also force people to use bitcoin ;D ;D ;D Title: Re: MtGox USD withdrawals and deposits will soon be processed! Post by: ElectricMucus on August 08, 2013, 10:36:44 AM incase anyone missed it, i will leave this here... Quote from: MtGox link=https://www.mtgox.com/press_release_20130805.html Deposits and Withdrawal Update Finally, the issues with deposits and withdrawals from Mt. Gox are being relieved, but still not at the rate we want. For example it currently takes up to 10 days to process a deposit because our bank, upon receiving deposits, notifies us of the deposit but holds them for 7~10 days before transferring them to our account. This has always been the case, and we were still crediting customer accounts before receiving the funds ourselves, but some cases in which the bank subsequently rejected the deposits meant that we incurred significant losses. The risk is now too high for us to credit accounts prematurely. We are in the process of forming relationships with new partners, banks, and taking other steps -- hopefully we will not only be back where we were before we encountered these issues , but much further ahead. This is just BS. It mentions nothing about withdrawals You noticed? Title: Re: MtGox USD withdrawals and deposits will soon be processed! Post by: Zarathustra on August 08, 2013, 11:04:16 AM I think MTGOX is doing some kind of financial innovation: Forever delay the fiat withdraw, which force people to either establish other exchanges (more exchanges = better bitcoin eco system) or spend them directly Yes, other possibilities can be excluded. It's not possible, that a company acts so stupid for weeks and months. Title: Re: MtGox USD withdrawals and deposits will soon be processed! Post by: ronaldlee0917 on August 08, 2013, 11:45:09 AM I think MtGox is having fun doing 10% profit arbitrage between Bitstamp and their own platform, they won't release your fund until they have robbed all your money.
Title: Re: MtGox USD withdrawals and deposits will soon be processed! Post by: MoreFun on August 08, 2013, 11:47:20 AM I think MtGox is having fun doing 10% profit arbitrage between Bitstamp and their own platform, they won't release your fund until they have robbed all your money. Good point... ;D ;D Title: Re: MtGox USD withdrawals and deposits will soon be processed! Post by: bitcon on August 08, 2013, 10:56:40 PM they said it was going to be 2 weeks over 5 weeks ago. .. .
Title: Re: MtGox USD withdrawals and deposits will soon be processed! Post by: Qoheleth on August 08, 2013, 11:31:22 PM If and when withdrawls start being processed again, I expect that arbitrage would slowly come back online, narrowing the present gap between Mt. Gox and other exchanges from its current ~8% to something more like 3-4% (perhaps less, depending on the number of people with Trusted verification on Gox). I expect that this won't cause too much drift in the price aside from reconciling the exchanges, since any money that wanted to leave the system probably either has done so or hasn't been spent on anything but "get in the withdrawl queue" any time recently, and deposits have presumably been going to other (cheaper) exchanges.
Title: Re: MtGox USD withdrawals and deposits will soon be processed! Post by: adamstgBit on August 08, 2013, 11:49:31 PM 2 words
Crypto Financial! https://bitcointalk.org/index.php?topic=269191.0 I expect big things from these people, i will be investing during the IPO it could even solve MtGox's fait problems! Title: Re: MtGox USD withdrawals and deposits will soon be processed! Post by: adamstgBit on August 09, 2013, 03:27:33 AM https://www.mtgox.com/press_release_20130704.html
is it a lie? apparently they just have a 2 week back log (and that was last month) has anyone been able to get money out? anyone! Title: Re: MtGox USD withdrawals and deposits will soon be processed! Post by: hyphymikey on August 09, 2013, 03:37:47 AM A friend of mine was waiting about a month for a <20K USD withdrawal from Gox. They finally just cancelled the withdrawal upon request and he bought back his BTC (at a slight loss) and I clued him in on another "instant" way to cash out. I suspect this has happened to others recently, given the price rise. Plus, some people are still holding bitcoin until withdrawals are caught up. I think they would rather have BTC in their wallet than MtGox USD at the moment, given their problems. So when MtGox USD is easily turned into fiat again, then the price will drop, to at least the 70-80 dollar range.
I mean why would it go UP? The price is currently high because there is no reason to sell, its not like you actually get fiat when you sell. Title: Re: MtGox USD withdrawals and deposits will soon be processed! Post by: Wagner2014 on August 09, 2013, 04:36:50 AM 2 words Crypto Financial! https://bitcointalk.org/index.php?topic=269191.0 I expect big things from these people, i will be investing during the IPO it could even solve MtGox's fait problems! Who are they? What are their credentials? Who are their customers? How are they licensed to do the business they propose internationally? Why do they propose initial value of $15 million? Based on an idea? How much revenue do they bring in? What profits do they have? What's their track record? Or is it all a "paper" plan - that's magically worth millions? I would have thought people had learned something from the .com scams. Title: Re: MtGox USD withdrawals and deposits will soon be processed! Post by: Ares on August 09, 2013, 04:40:40 AM A friend of mine was waiting about a month for a <20K USD withdrawal from Gox. They finally just cancelled the withdrawal upon request and he bought back his BTC (at a slight loss) and I clued him in on another "instant" way to cash out. I suspect this has happened to others recently, given the price rise. Plus, some people are still holding bitcoin until withdrawals are caught up. I think they would rather have BTC in their wallet than MtGox USD at the moment, given their problems. So when MtGox USD is easily turned into fiat again, then the price will drop, to at least the 70-80 dollar range. I mean why would it go UP? The price is currently high because there is no reason to sell, its not like you actually get fiat when you sell. One reason it could go up is because the largest exchange is working again. You have to also consider that people aren't putting Fiat onto the exchange either, so that too will change which means more Bitcoins bought. Perhaps a small dip followed by a rise, accounting for the few days it takes for fiat transfers to arrive (man current fiat systems suck). Title: Re: MtGox USD withdrawals and deposits will soon be processed! Post by: Wagner2014 on August 09, 2013, 04:41:17 AM A friend of mine was waiting about a month for a <20K USD withdrawal from Gox. They finally just cancelled the withdrawal upon request and he bought back his BTC (at a slight loss) and I clued him in on another "instant" way to cash out. I suspect this has happened to others recently, given the price rise. Plus, some people are still holding bitcoin until withdrawals are caught up. I think they would rather have BTC in their wallet than MtGox USD at the moment, given their problems. So when MtGox USD is easily turned into fiat again, then the price will drop, to at least the 70-80 dollar range. I mean why would it go UP? The price is currently high because there is no reason to sell, its not like you actually get fiat when you sell. This is what I think also -that the price has been kept artificially high for this reason. We'll see if that's the case if Mt. Gox's problems are resolved. Title: Re: MtGox USD withdrawals and deposits will soon be processed! Post by: CurbsideProphet on August 09, 2013, 04:48:26 AM incase anyone missed it, i will leave this here... Quote from: MtGox link=https://www.mtgox.com/press_release_20130805.html Deposits and Withdrawal Update Finally, the issues with deposits and withdrawals from Mt. Gox are being relieved, but still not at the rate we want. For example it currently takes up to 10 days to process a deposit because our bank, upon receiving deposits, notifies us of the deposit but holds them for 7~10 days before transferring them to our account. This has always been the case, and we were still crediting customer accounts before receiving the funds ourselves, but some cases in which the bank subsequently rejected the deposits meant that we incurred significant losses. The risk is now too high for us to credit accounts prematurely. We are in the process of forming relationships with new partners, banks, and taking other steps -- hopefully we will not only be back where we were before we encountered these issues , but much further ahead. What garbage. No bank on this earth worth their salt holds onto a WIRE transfer for 7 to 10 days. And weren't they opening accounts with multiple banks? Why is it singular now, "our bank?" Title: Re: MtGox USD withdrawals and deposits will soon be processed! Post by: adamstgBit on August 09, 2013, 07:04:37 PM incase anyone missed it, i will leave this here... Quote from: MtGox link=https://www.mtgox.com/press_release_20130805.html Deposits and Withdrawal Update Finally, the issues with deposits and withdrawals from Mt. Gox are being relieved, but still not at the rate we want. For example it currently takes up to 10 days to process a deposit because our bank, upon receiving deposits, notifies us of the deposit but holds them for 7~10 days before transferring them to our account. This has always been the case, and we were still crediting customer accounts before receiving the funds ourselves, but some cases in which the bank subsequently rejected the deposits meant that we incurred significant losses. The risk is now too high for us to credit accounts prematurely. We are in the process of forming relationships with new partners, banks, and taking other steps -- hopefully we will not only be back where we were before we encountered these issues , but much further ahead. What garbage. No bank on this earth worth their salt holds onto a WIRE transfer for 7 to 10 days. And weren't they opening accounts with multiple banks? Why is it singular now, "our bank?" maybe the bank has flag incoming wires to mt gox as high risk so thats why they hold it for a week Title: Re: MtGox USD withdrawals and deposits will soon be processed! Post by: TTBit on August 09, 2013, 07:16:42 PM Imagine if bitstamp stopped withdrawals too -- we'd all be rich! Title: Re: MtGox USD withdrawals and deposits will soon be processed! Post by: ElectricMucus on August 09, 2013, 07:18:50 PM Imagine if bitstamp stopped withdrawals too -- we'd all be rich! That made me LOL Title: Re: MtGox USD withdrawals and deposits will soon be processed! Post by: adamstgBit on August 09, 2013, 07:20:39 PM MtGox withdrawals have supposedly been actively processed for a month now...
Title: Re: MtGox USD withdrawals and deposits will soon be processed! Post by: Qoheleth on August 09, 2013, 07:28:17 PM MtGox withdrawals have supposedly been actively processed for a month now... Supposedly (https://bitcointalk.org/index.php?topic=268313.0) is the active ingredient here.Title: Re: MtGox USD withdrawals and deposits will soon be processed! Post by: ogrgat on August 10, 2013, 03:47:14 PM http://www.youtube.com/watch?v=t_16OQx_I8E finally an easy way to double your money what did I just watch LOL can you imagine the rate of inflation, i can't this thing is beyond retarded... how can bitcoin fail when this is the alternative? I dont think its retarded, its just marketing strategy ... if they are success they will stop this 200 % bonus soon ... and if they grow big enough, lets say to similar position as bitcoin is - market cap - 11 Milions bitcoin x 90 usd ... its plenty of usd, they wont care they gave away 10 000, 50 000, 500 000 usd at the beggining in their advertisement campaign. Bitcoin also started as a silly project with a silly "mining" ... you could buy 1 Btc for 0.1 Usd ... and few lucky and "retarded" ones did ... and right now they have 900x more for their investment :) Title: Re: MtGox USD withdrawals and deposits will soon be processed! Post by: ogrgat on August 10, 2013, 03:50:35 PM If and when withdrawls start being processed again, I expect that arbitrage would slowly come back online, narrowing the present gap between Mt. Gox and other exchanges from its current ~8% to something more like 3-4% (perhaps less, depending on the number of people with Trusted verification on Gox). I expect that this won't cause too much drift in the price aside from reconciling the exchanges, since any money that wanted to leave the system probably either has done so or hasn't been spent on anything but "get in the withdrawl queue" any time recently, and deposits have presumably been going to other (cheaper) exchanges. yea sure thing gap goes slowly back to 0 I am also waiting for a usd withdrawal and am worried a lot about my money :/ ... but if I get my money to my bank account will sell another Btc while there is gap to earn as much as possible :) If i receive money will let you inform ... Title: Re: MtGox USD withdrawals and deposits will soon be processed! Post by: mechs on September 16, 2013, 06:27:33 PM If and when withdrawls start being processed again, I expect that arbitrage would slowly come back online, narrowing the present gap between Mt. Gox and other exchanges from its current ~8% to something more like 3-4% (perhaps less, depending on the number of people with Trusted verification on Gox). I expect that this won't cause too much drift in the price aside from reconciling the exchanges, since any money that wanted to leave the system probably either has done so or hasn't been spent on anything but "get in the withdrawl queue" any time recently, and deposits have presumably been going to other (cheaper) exchanges. yea sure thing gap goes slowly back to 0 I am also waiting for a usd withdrawal and am worried a lot about my money :/ ... but if I get my money to my bank account will sell another Btc while there is gap to earn as much as possible :) If i receive money will let you inform ... |