|
Title: Bla, bla, bla..... Was: "Gox withdrawal problem seems to be solved (for now)." Post by: OhShei8e on August 08, 2013, 01:19:55 PM The USD/BTC ratio on Gox shrunk to 120$ ! IMHO a lot of people have gotten their money meanwhile. And now they withdrawal more money from Gox I think. Although this are good news, there is also some shame that so many people pull their money out of Bitcoin. But well, we can buy back to single digits then soon. :D I hope that the wrong people now stay away from Bitcoin (and from Gox). Title: Re: Gox withdrawal problem seems to be solved (for now). Post by: cedivad on August 08, 2013, 04:15:29 PM What is in the orderbook can't be on a processing withdrawal.
I'm sure that it's quite oblivious. Title: Re: Gox withdrawal problem seems to be solved (for now). Post by: OhShei8e on August 08, 2013, 09:52:52 PM What is in the orderbook can't be on a processing withdrawal. Why he chooses to keep using that as a reference is beyond me, as orders are placed and cancelled hundreds of times a minute. I'm sure that it's quite oblivious. Okay, please don't cry, it was false alarm. ::) The money is still on Gox. People only speculate. But it also means that no one worry over Gox. People seem to have confidence in Gox and that's IMHO a good thing. It's the community. Remark to the ratio: The ratio of the full order book rarely changes for a long time according to my observations. Today it had moved strongly out of the normal range of variation for many hours. But I was too hasty. Sorry for the noise! I just would like that everything is back to normal. EDIT: The ratio is now back to normal. Title: Re: [s]Gox withdrawal problem seems to be solved (for now).[/s] Post by: solex on August 08, 2013, 10:01:48 PM Okay, please don't cry, it was false alarm. ::) How about amending the thread title to not solved? Until loads of people report transfers taking less than 1 week, then the red warning flags should keep flying around MtGox. Their recent press release did not properly discuss the severe withdrawal delays which is by far the major concern for most of their customers. Title: Re: Gox withdrawal problem seems to be solved (for now). Post by: OhShei8e on August 08, 2013, 10:03:11 PM What is in the orderbook can't be on a processing withdrawal. I'm sure that it's quite oblivious. But we talking about what is NOT in the orderbook. If money is removed from the order book, there are two options: People have charged it or they hoard it. Title: Re: [s]Gox withdrawal problem seems to be solved (for now).[/s] Post by: OhShei8e on August 08, 2013, 10:04:24 PM How about amending the thread title to not solved? I wrote nonsense and have nothing to hide. EDIT: Changed. :) Title: Re: [s]Gox withdrawal problem seems to be solved (for now).[/s] Post by: OhShei8e on August 08, 2013, 10:25:42 PM Until loads of people report transfers taking less than 1 week, then the red warning flags should keep flying around MtGox. Their recent press release did not properly discuss the severe withdrawal delays which is by far the major concern for most of their customers. I came from SEPA. Most of my withdrawals have always taken weeks. But now I'm done with my withdrawals. For me it is not so important. I do not withdrawal all the money from Gox. No matter how much panic you spread here. Gox lost Dwolla, Liberty Reserve and OKPAY. The people have to wait now. Gox is still the best trading platform. I recommend all newcomers Gox with a clear conscience. Maybe Gox is bad for people with large withdrawals at the moment. Title: Re: Bla, bla, bla..... Was: "Gox withdrawal problem seems to be solved (for now)." Post by: dave111223 on August 09, 2013, 03:56:41 AM FACT: BTC is traded at $94.5 at Bitstamp and $104 at MtGox right now as I type this. FACT: The spread is increasing. You can blah blah blah all you want. The fact of the matter is that people are buying BTC at MtGox high and selling low at Bitstamp. Doing so makes no sense what so ever unless people are doing so because they are simply giving up waiting for MtGox to process their withdraws. I personally fully expect something like $110 at MtGox and Bitstamp $90 before this is either resolved or MtGox is shut down. Go ahead and blah blah blah all you want. If the gap between exchanges narrow to less than $2 then I'll take that as clear evidence that all is fine at MtGox. It is increasing as of right now. That shows us the truth of the matter. If you truly believe everything is fine at MtGox then go ahead: send money to the other exchanges, buy all the bitcoins you can and sell them at MtGox with great profit. Put your money where your mouth is or shut the fuck up. A 12% price difference clearly shows how the market views MtGox right now. If the spread was less than $2 I can imagine you'd see A LOT of people jumping ship really fast. Only people on Gox now are people using Nair in the shower cuz they're afraid of the barber. Title: Re: Bla, bla, bla..... Was: "Gox withdrawal problem seems to be solved (for now)." Post by: OhShei8e on August 09, 2013, 06:42:34 AM I personally fully expect something like $110 at MtGox and Bitstamp $90 before this is either resolved or MtGox is shut down. Because of the panic the differences may be larger. If you truly believe everything is fine at MtGox then go ahead: send money to the other exchanges, buy all the bitcoins you can and sell them at MtGox with great profit. Put your money where your mouth is or shut the fuck up. A 12% price difference clearly shows how the market views MtGox right now. Why? If Gox really breaks down, then we go back to single digits. I have enough money in my normal savings account for this szenario. So in this case I will rather trust my bank. Besides, I have enough money on Gox. I've told you how things are. There is no money without Gox in the Bitcoin World. This is the crucial fact. Bitstamp is puny. An Exchange without significant deposits. How ridiculous is that? Gox has at least 12 million. Bitstamp just one. We are talking about a millon dollars and perhaps another million together on all other exchanges. So what are we talking about? That we can immediately charge the million from Bitstamp? And then what? Who is liquid? Before Gox is giving up, people will step out of Bitcoin until the money is exhausted on Bitstamp. On Bitstamp there is almost no money. Only people like you who are early enough can escape. Great prospects. Is that your recommendation to the community? Are these your facts? Title: Re: Bla, bla, bla..... Was: "Gox withdrawal problem seems to be solved (for now)." Post by: dave111223 on August 09, 2013, 08:52:46 AM An Exchange without significant deposits. How ridiculous is that? Gox has at least 12 million. Bitstamp just one. Where are you getting this info? You do realize that only a portion of deposits sent to an exchange will actually be placed into orders and appear in the orderbook. Many people just hold the funds on their account and then place an order when they actually want to do a trade, as opposed to leaving it as an open order. Title: Re: Bla, bla, bla..... Was: "Gox withdrawal problem seems to be solved (for now)." Post by: K1773R on August 09, 2013, 10:20:13 AM OP is german, what did you expect? delusion @ german ppls is usual...
Title: Re: Bla, bla, bla..... Was: "Gox withdrawal problem seems to be solved (for now)." Post by: OhShei8e on August 09, 2013, 10:33:59 AM An Exchange without significant deposits. How ridiculous is that? Gox has at least 12 million. Bitstamp just one. Where are you getting this info? You do realize that only a portion of deposits sent to an exchange will actually be placed into orders and appear in the orderbook. Many people just hold the funds on their account and then place an order when they actually want to do a trade, as opposed to leaving it as an open order. And what changes for the ratio? 13 Million on Gox, one Million on Bitstamp. Gox is 13 times larger. Or do you think there are still 12 million and more hidden on Bitstamp? The people sit on so much money on Bitstamp? If you belive so this is for you: http://www.youtube.com/watch?v=EPSxTDJeQ9I Funny. I'm now on vacation. Title: Re: Bla, bla, bla..... Was: "Gox withdrawal problem seems to be solved (for now)." Post by: dave111223 on August 09, 2013, 12:14:04 PM OhShei8e I'll go to Bitstamp later and put an open sell order for 1BTC = 12Million then it will even things out... ???
Title: Re: Bla, bla, bla..... Was: "Gox withdrawal problem seems to be solved (for now)." Post by: narayan on August 09, 2013, 12:15:33 PM If MtGox does go bankrupt, I think we are going to see a very big disruption in the Bitcoin sector. MtGox was one of the most trustworthy exchanges around!
Title: Re: Bla, bla, bla..... Was: "Gox withdrawal problem seems to be solved (for now)." Post by: OhShei8e on August 09, 2013, 12:55:51 PM OhShei8e I'll go to Bitstamp later and put an open sell order for 1BTC = 12Million then it will even things out... ??? Pointless. For FIAT only the bids are countet. For BTC only the asks are countet. Only the 1BTC would be countet, because this is really in your wallet. Title: Re: Bla, bla, bla..... Was: "Gox withdrawal problem seems to be solved (for now)." Post by: OhShei8e on August 09, 2013, 01:08:50 PM Also don't forget that BFX switched from MtGox to Bitstamp long, long ago so Bitstamp has a whole lot of dark orders you don't see in their book - but you can see them here: https://www.bitfinex.com/pages/ll_order_book Looks very thin. But I do not have time to deal with it in more detail. After my vacation. :) I recommend you start paying more attention to traded volume and charts than the orderbook. I will do. Is there some API where I can request the trading volumes of the different exchanges? Title: Re: Bla, bla, bla..... Was: "Gox withdrawal problem seems to be solved (for now)." Post by: kawkaw2013 on August 10, 2013, 02:57:09 AM I recommend you start paying more attention to traded volume and charts than the orderbook. I will do. Is there some API where I can request the trading volumes of the different exchanges? I don't know of any API, but I use http://bitcoincharts.com/markets/ (http://bitcoincharts.com/markets/) to keep track of traded volumes. It shows last 24 hours and last 30 days. Looking at USD/BTC right now, the 24 hour volume on Mt.Gox of 9,768.21 BTC is less than the 11,195.62 BTC on Bitstamp. However, Mt.Gox is still marginally the largest exchange when you take into account the BTC/EUR, BTC/JPY and other minor fiat currency markets that Bitstamp doesn't offer. Not sure for how much longer this will be the case though. |