Bitcoin Forum

Call it tin foil hats or whatever you like but the only one thats SURE to have benefits from this crash is Marks and his associates.

They terminate all withdrawals (btc/fiat), so now they can control the crash on their exchange.

As such, they will keep pushing down the price of their GOX btc and buy it up while selling them on other exchanges. They will keep doing it until your btc fund is practically worth nothing and they can happily allow you to withdraw your coins.


The question is..... are you their pigs getting slaughtered?


Edit: ALSO THE FACT THAT THEY STILL ALLOW BTC DEPOSIT does mean their slaughter house opens for pigs!!!

Interesting. Is there any exchange that hasn't suspended withdrawals?

Kraken. Super tiny volume, but it works.

http://s11.postimg.org/epnbxiqn7/20140107_japanbusiness_yomiri.jpg (http://postimage.org/)
"I might have manipulated the markets just a little bit....."

Will it matter if nobody ever gets their bitcoins back? What would price mean then?

Exactly.... but they effectively reduce their liability significantly. Pigs will sell their coins (hoping to ride the waves or just panic). Their 40000btc IOU will be worth alot less. They dont want to go to jail after all. A scheme to be legally rich.

lots of newer exchanges, ie built from the ground up by pros, are withdrawing just fine. unfortunately they tend to have tiny volumes for now

This theory makes so much sense it isn't funny. What IS funny, however, is what will happen to the BTC/USD price when BTC withdraws open.

FTFY

You dont think that once BTC has crashed to $1 on their site they'll just all they need up and open withdraws? lol.

Simply just a matter of time, when funding and investors with banking connection come in.

Meanwhile, the pigs are still getting slaughtered by Marks. They however insist on making threads with subject " This is the end" " Bitcoin is done"

what's the situation at btc-e?

Withdrawals work.

this is why i have removed mtgox from cryptocoincharts.info ! the price on mtgox is not a bitcoin price. its something completely different. nobody should bother about the prices on mtgox. but i guess pigs are stupid and all exchanges follow the downtrend

I got USD from a Coinbase withdrawal yesterday, but the ACH was already in the pipeline before this news.  Considering they use Bitstamp, which has in fact suspended withdrawals temporarily, I'm not sure what would happen now.

I'm certainly not selling at this depressed price like some Nervous Nellies.

I'm actually kind of bummed my cash flow situation is such I can't buy some right now.  My position is definitely long-term hold, though.

+1

We need to get gox out of the way, people are trading fiction goxbux and goxBTC, and go in goxbux because they think they have a bigger chance of recovering it.

It seems that Mark is working on BTC withdrawals, watch the price shoot to 1K as soon as BTC withdrawals work...

While I am glad more and more sites are doing this, I have been perturbed for some time that the bogus prices on Gox have been taken seriously.  I hope more care is taken in the future as to which exchanges are included in indices.  Nobody seemed to have any problem with Gox's fictional prices when they were bringing up the average.

Because pigs are greedy. And greed destroy great things.

I'm sure these pigs think they can beat the manipulated market by riding the waves. Just look at all the cheering for lower price in this section...... while forgetting its a zero sum game and who has a upper hand? Well our mighty Mark, of course.

LMAO

I was wondering it - it is not possible to withdrawn either btc or usd from Mt Gox? Initially i thought the problem was only with withdrawing btc and that that is why ppl were so desperately selling them ...

You can't withdraw either, the exchange is entirely fictional. If BTC was owned by a company, that company would be suing Mt. Gox for misrepresentation of a trademark :)

Every single person that still had bitcoin on Gox, I'm not sorry to say, it's PLAIN STUPID.

If they had USD or other fiat, there were some chances to get out. Now, Mark has no power by his own. But with all this stupid, extra greedy and now fearful people, he will bring the price to 200. And what's even sad, while all his customers unwillingly and unknowingly help him, in the end they will all be sacrificed.

Now, where have I seen those blue balls before?

http://img.gawkerassets.com/img/18ha55yjdnorkjpg/k-medium.jpg

people who look like teddy bears tend to get away with a lot of stuff

I'm not so sure if he have that teddy bear looking when his customers come face to face with him asking for their coins back.

So far i'm very disappointed not ONE person that comes to their office and deal with Mark. Hey Mark blame automated transaction system is shutdown, he blame his wallet doesnt create standard tx.... right? What about a good old paper wallet payout + signed receipt ? Yeah not one person ask him that in person.....

This gives me one theory..... large btc holders on Gox are Marks friends and associate, thus they're not worried. The rest are newbies and panic pigs getting slaughtered.

FTFY

now before anyone gets all uptight about me giving "advice" that can lose people money, this isn't advice. Its just what I believe and have believed throughout.

I think gox are solvent, I think the price there is due to panic selling, I think its a good opportunity to buy. I think it will be business as usual in the next week or so.

So its time for me to put my money where my mouth is.

Today I am putting (fiat) money on gox and buying coins. A 40%+ discount to stamp is hard to ignore. The risk is that a lose my principal.

Fiat money is pretty easy to come by though, so its not really much of a risk :)

Hope you get there in time. How are you doing it?

sepa. bank usually turns it round same day so it just depends how long gox take to "KYC/AML" me!

I would hope, as they seem to be doing nothing else, that part won't take to long!

We could be seeing the first upward movement from them now. Although I think this is probably from those who were waiting but now want to buy in before the chance that trading is shut off while the "solution" Karpeles spoke about recently is implemented.

Nail biting stuff! I always seem to end up this way when dealing with BTC. Usually its waiting for confirmations on the block chain.

Hoping its a dead cat bounce ;)  snagging a bunch of coins for $300 would be quite something. (provided the 'moon' assumption holds! hehe)

At this Point Gox sacrificed Bitcoin to try and save their own asses, Playing the "We are completely legit, it was Bitcoin that caused this" card.
Damaging Bitcoin globally, which is easy to see.
I'll never touch Gox again, I frankly could care less what they fix or implement.

While I didn't withdraw, Coinbase looked like they would still honor a withdrawal yesterday.  They're usually pretty upfront about stuff.

Bitfinex

Wow. Looks like completely unregulated currency exchanges are not such a great idea. I understand that the names of people behind Mt Goc are at least known? But will they be prosecuted in Japan if they will just decide to never give the deposited money back to people? Hack or no hack?

If regulation hadn't forced people to keep their fiat on there forever this wouldn't be such a mess.

It's quite credible that the 6-month lockdown on wires was caused by banks who don't dare transfer any serious amount. The software issue now is probably minor in comparison, but in combination the two created huge chaos.

While Gox screwing up is an the issue, for all we know regulation still did the larger part. The reason Gox got hit harder was supposedly Silk Road money sitting there, which also sounds credible to me.

"Regulation" really just means blocking everything for hardly any benefit. In the end it doesn't recover lost funds either.

I was thinking about trying this. I also thought that if Gox did go bust, and you'd deposited to Gox with a credit card, could you get a refund from the credit card company if they took your cash/coins?

Would it matter if your funds were in £/$ or BTC form? Say you bought 1 BTC @ £200, and Gox went under, could you claim (through your CC company) for the lost BTC's current market value, eg £500 at another exchange?)

I guess that would be highly unlikely, but the CC company might (possibly) refund the initial deposit...?

hmm could be worth a gamble.

You can only do bank transfer. SEPA in euro zone or international wire. There are other funny money solutions but no credit card option that I am aware of.

LMFAO

Great, hopefully you will make gox liquid enough for them to pay me what they owe me.

Out of curiosity, could you list some of these? My main platform atm is Bitstamp and I have for over a year now been part of the "Gox is shit, stop doing business with them"-crowd.

However, I fear Stamp might suffer from the same fundamental flaws of incompetency as Gox, just better masked, and that they are headed for the same fate. I guess only time will tell. In the mean I'd love to keep a closer eye on these exchanges "built by pros" as you put it.

No exchange is 100% pro at the moment.

My humble experience and opinion is that the 3 most reliable ones currently are Bitfinex, Bitstamp and BTC-e.

In all cases I am not comfortable leaving more than 3-5 BTC worth of funds on them for a longer period. Rather withdraw BTC/fiat as soon as you made your trade(s).

Just 2¢…

Actually, Bitstamp did issue an announcement suspending withdrawals temporarily.  However, unlike Gox, which demanded everyone else clean up its poopies, it appears just to be fixing the problem with its own software and will probably resume withdrawals shortly.

Just encountered this message (https://bitcointalk.org/index.php?topic=458074.msg5158440#msg5158440).  Bitstamp has resumed withdrawals basically just a bit ago.

you CAN withdraw all currencies in fiat - it just takes 4-6 weeks or something to get it.

So... who received USD successfully from gox in 6 weeks?