Bitcoin Forum

I'm curious. Obviously there's a huge Mtgox arbitrage opportunity if crap ever gets fixed.

As someone who finally got out of there today, what will it take for you to sell your BTC there?

Here are some choices.
1. Announcement by Mtgox, all withdrawals fixed and being executed on Mtgox.
2. Announcement by Mtgox, new banking partner for US withdrawals.
3. Confirmation of withdrawals from others.
4. Your withdrawal from 6 months ago actually comes through.
5. You're done and never going back to Mtgox.

I think one of the most profitable plays, if you can time it right is going to be when gox finally gets its shit sorted and reinstates withdrawals.

If you knew when that was going to happen you got a quick and easy 20%.

Gamble on!

6. A gun pointed at your forehead

I would use MtGox if they had a US ACH withdraw & deposit feature integrated, so that I don't have to pay $30+ for a single transfer. Even then, for small deals Localbitcoins would usually be more convenient.

I would use gox if they went back to having 80% of all bitcoin volume.

They'd have to fix their withdrawals and then I'm sure they'd get at least 33% of the US market. After that, it would depend on their customer service and other factors.


At this point, some of the whales would be happy to pay $100 to get a withdrawal to go through. There's coinbase for ACH, but yea it's 1% so unless it's a small amount, it'll be more than $30.

I'd never use a Bitcoin exchange or online wallet that wasn't optimized for use in my country.

I realize that isn't a realistic approach for everybody depending on where you live, but that's just me.

Coinbase does a pretty good job, all things considered.

Edit:

BTC-e is also extremely NOICE.

i use mtgox for bot trading, so selling there daily. reason? simple, biggest volatility of all other exchanges. sell to withdraw fiat? why would anyone do that.

Or be there when they flip the switch on LTC trading and take advantage of that high BTC price.

Would you be able to? The BTC/LTC ratio would be around BTC-E. The USD/LTC ratio would be higher but then you'd still be stuck with Mtgox $$$. And have the same problem as before.

3. Confirmation of withdrawals from others.

That goes for 99% of everybody else, no matter what they actually say they would be doing.

Reports of critical issues & problems would have to go away first. Right now, with all the botched withdrawal issues going on I'm scared to even withdraw my BTC  >:(

I don't sell bitcoins.

Finally I'm in the 1%!

I wanna see Mark Kraples out. I defend the guy, I don't think he's evil. I don't think he's a criminal. He's just a bad CEO. He needs to get bought out by someone with credibility. He has to has to has to go.

Or at least hire a PR guy. All they have to do is have some News Announcement about working on US withdrawals and that will probably reassure everyone for another month.

Are you able to withdraw to Japanese bank accounts with MtGox?

These were the days... God i remember how easy it was to short on btc-e:
1. wait till mtgox lag or ddos
2. mass panic selling

:D

watch Gox  and stamp here
http://bitcoinwisdom.com/markets/mtgox/btcusd

Gox seems to be chrashing
and Gox bid/ask  http://trading.i286.org/mtgox/?item=btc&currency=usd

Even if that only meant that they octrupled the frequency of their bot trading?

Single percent figures of all Bitcoin are actually in circulation, I heard. Trade volume is mostly a measure of the level of bots or gamblers on an exchange.