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Title: The Fleecing of Mt. Gox Post by: AceOfWands on February 16, 2014, 01:16:57 AM Anyone notice how the instant orders on Mt. Gox for this crisis have been almost exclusively sell orders? Watch your consoles. Even the green volume bars are mostly sells. The first sells were at a high price, and the price tanked. Now the price has bottomed out just above 300, and the sells can't drive it down any further but they don't stop coming. These bottom sellers are chasing the market, and they are being fleeced. Now the new floor is currently 370 or so, and the fleecing continues. Anyone else think it will be mostly up from here, with pauses here and there for more sell-lows? And then up from there again, for the most part, until we reach market or above? Coins are transferring into smarter hands, it looks like. Quite a show.
Title: Re: The Fleecing of Mt. Gox Post by: smoothie on February 16, 2014, 01:20:07 AM And if MTGOX can't make good on BTC withdrawals and FIAT withdrawals what's the point if the price is high or low?
Title: Re: The Fleecing of Mt. Gox Post by: Holliday on February 16, 2014, 01:22:27 AM MtGox is dysfunctional. There is no rhyme or reason to what is going on there. Who knows why the actors involved are acting the way they do?
Title: Re: The Fleecing of Mt. Gox Post by: AceOfWands on February 16, 2014, 01:27:06 AM I can't help wondering if the reinstatement of BTC withdrawals will coincide with the price reaching near market rate again, then we all get our BTC back eventually? But the BTC will most definitely be in different hands...
Title: Re: The Fleecing of Mt. Gox Post by: Holliday on February 16, 2014, 02:09:00 AM Everything happening at Gox is completely normal! Nothing to see here.
Title: Re: The Fleecing of Mt. Gox Post by: cwfabc on February 16, 2014, 02:11:31 AM 3800 coin shoot to 540$
Title: Re: The Fleecing of Mt. Gox Post by: AceOfWands on February 16, 2014, 02:32:33 AM On my working hypothesis, the smart coins are buying, and the dumb coins are instant selling. Thousands of dumb coins captured on the way back down, and the price won't go much below the previous floor of 365, then shoot back up to 450 quickly... just at a guess. Some lucky limit sellers get to buy back in at a BTC profit. Cool.
Title: Re: The Fleecing of Mt. Gox Post by: franky1 on February 16, 2014, 02:35:17 AM On my working hypothesis, the smart coins are buying, and the dumb coins are instant selling. on my hypothesis the smart coins are not even using mtgox and the dumb coins are being deposited and trading on mtgox Title: Re: The Fleecing of Mt. Gox Post by: TERA on February 16, 2014, 02:40:43 AM There seems to be a gigantic floor at 300 and growing. I don't see it falling below there unless mtgox actually announces that they are insolvent.
Title: Re: The Fleecing of Mt. Gox Post by: WesandEAC on February 16, 2014, 02:41:17 AM I am inspired fellas. Mark is buying and using his own money to put things right. It could be no one else. ;) Every chance they observe 2500 or so coins that can be bought up for a $200 or less gap it is worth it. Good for him. He was robbed and is still going to try to make good with out anyone ever knowing. I was buying as well but I am about tapped out at this point. Now I'll just go do some good deeds for some karma! haha
3800 coin shoot to 540$ Title: Re: The Fleecing of Mt. Gox Post by: WesandEAC on February 16, 2014, 02:42:02 AM Hmm was 4000 coins. 10 more times and he will be whole. ;)
Title: Re: The Fleecing of Mt. Gox Post by: AceOfWands on February 16, 2014, 02:46:20 AM On my working hypothesis, the smart coins are buying, and the dumb coins are instant selling. on my hypothesis the smart coins are not even using mtgox and the dumb coins are being deposited and trading on mtgox You got me there, smart and dumb being relative things. I'm a dumb noob with 2 BTC stuck on gox, waiting for this weirdness to play out. Title: Re: The Fleecing of Mt. Gox Post by: MatTheCat on February 16, 2014, 02:49:02 AM I am inspired fellas. Mark is buying and using his own money to put things right. It could be no one else. ;) Every chance they observe 2500 or so coins that can be bought up for a $200 or less gap it is worth it. Good for him. He was robbed and is still going to try to make good with out anyone ever knowing. I was buying as well but I am about tapped out at this point. Now I'll just go do some good deeds for some karma! haha Hooray! The shady incompetent rat crook has come to save us all! Title: Re: The Fleecing of Mt. Gox Post by: AceOfWands on February 16, 2014, 03:00:57 AM On my working hypothesis, the smart coins are buying, and the dumb coins are instant selling. on my hypothesis the smart coins are not even using mtgox and the dumb coins are being deposited and trading on mtgox You got me there, smart and dumb being relative things. I'm a dumb noob with 2 BTC stuck on gox, waiting for this weirdness to play out. Although I might hold to my hypothesis that there are indeed some very smart coins trading on Mt. Gox. And making bitcoin bank. Title: Re: The Fleecing of Mt. Gox Post by: Oldminer on February 16, 2014, 04:09:19 AM Gox support is trying to convince me to cancel my USD withdrawal and buy back BTC. If a bank operated like this they would be shutdown in an instant. All I want is to get my money out and never go near the exchange again yet instead I'm involved in a 'discussion' with their support that goes around in circles & never ends.
Title: Re: The Fleecing of Mt. Gox Post by: smoothie on February 16, 2014, 04:13:48 AM Whoever bought 3800 BTC on gox up to $500+ ....LOL
Title: Re: The Fleecing of Mt. Gox Post by: aminorex on February 16, 2014, 04:39:39 AM "Gox support is trying to convince me to cancel my USD withdrawal and buy back BTC. If a bank operated like this they would be shutdown in an instant. All I want is to get my money out and never go near the exchange again yet instead I'm involved in a 'discussion' with their support that goes around in circles & never ends." LAUGH MY ASS OFF. See this part, "If a bank operated like this they would be shutdown in an instant." Really genius. Why do you think that any rational person is saying that bitcoin in a bubble/Ponzi scheme/scam and that it can just as easily go to zero tomorrow as $1,000,000 each. Nobody to save you - you 'old miner / timer' goof. No bank, no central authority, no cops, no government, nada, zip, zilch, you have been fleeced and get that into you. I am focusing all my effort both day and night to rip off / hack / steal / scam every bloody bitcoin I can, and dump it as fast as I sell it. This bitcoin mania is the single biggest opportunity in the history of cybercrime to make it big! Now back to hacking I go... more noobs wallets to steal :o Hope you enjoy your celltime with Bubba. Title: Re: The Fleecing of Mt. Gox Post by: ArticMine on February 16, 2014, 04:54:33 AM "Gox support is trying to convince me to cancel my USD withdrawal and buy back BTC. If a bank operated like this they would be shutdown in an instant. All I want is to get my money out and never go near the exchange again yet instead I'm involved in a 'discussion' with their support that goes around in circles & never ends." LAUGH MY ASS OFF. See this part, "If a bank operated like this they would be shutdown in an instant." Really genius. Why do you think that any rational person is saying that bitcoin in a bubble/Ponzi scheme/scam and that it can just as easily go to zero tomorrow as $1,000,000 each. Nobody to save you - you 'old miner / timer' goof. No bank, no central authority, no cops, no government, nada, zip, zilch, you have been fleeced and get that into you. I am focusing all my effort both day and night to rip off / hack / steal / scam every bloody bitcoin I can, and dump it as fast as I sell it. This bitcoin mania is the single biggest opportunity in the history of cybercrime to make it big! Now back to hacking I go... more noobs wallets to steal :o I would do as they suggest, have them cancel the wire, and buy the BTC especially at these prices. MTGox will open up BTC withdrawals long before you will be able to withdraw USD. The USD issue has been going on since last summer. I went though this back in the fall with trapped CAD. Cancelled the wire and bought the BTC during the silk road crash at around 122 CAD per BTC, and withdrew the BTC at the first opportunity. The danger you face is that they will open BTC withdrawals and the GoxBTC/GoxUSD rate could easily sky-rocket to 200 or 300 USD above the Bitstamp price, and if one has trapped USD then one has real trouble. Edit: Do not fear Bubba profit at his expense instead. Title: Re: The Fleecing of Mt. Gox Post by: ArticMine on February 16, 2014, 05:23:57 AM My first suggestion to anyone involved with MTGox is that GoxBTC/GoxUSD is a very different currency pair than BTC/USD. The fundamentals are very different, as is the technical analysis. Take at look at http://bitcoinwisdom.com/markets/mtgox/btcusd (http://bitcoinwisdom.com/markets/mtgox/btcusd) and see for yourselves.
With GoxBTC/GoxUSD trading at 50% of BTC/USD combined with the reality that is way more likely to get BTC out of MTGox than USD converting any fiat currency trapped in MTGox to GoxBTC is to me the least risky option. Title: Re: The Fleecing of Mt. Gox Post by: Bit_Happy on February 16, 2014, 05:51:16 AM Gox support is trying to convince me to cancel my USD withdrawal and buy back BTC. If a bank operated like this they would be shutdown in an instant. All I want is to get my money out and never go near the exchange again yet instead I'm involved in a 'discussion' with their support that goes around in circles & never ends. If the price goes low enough buy those BTC :D Title: Re: The Fleecing of Mt. Gox Post by: MatTheCat on February 16, 2014, 01:53:01 PM On my working hypothesis, the smart coins are buying, and the dumb coins are instant selling. Thousands of dumb coins captured on the way back down, and the price won't go much below the previous floor of 365, then shoot back up to 450 quickly... just at a guess. Some lucky limit sellers get to buy back in at a BTC profit. Cool. Hmm. I don't think I shall subscribe to your market analysis service then. Title: Re: The Fleecing of Mt. Gox Post by: EvilPanda on February 16, 2014, 02:43:52 PM Crowd mentality is sometimes hard to guess, I'd say if they open transfers, people will buy back to be close to the average and then move to other exchanges. At least that's what I'd do. If they don't, price will continue falling, as people pefer to have $ not BTC in case this goes to court.
Title: Re: The Fleecing of Mt. Gox Post by: MoreFun on February 16, 2014, 02:48:48 PM Crowd mentality is sometimes hard to guess, I'd say if they open transfers, people will buy back to be close to the average and then move to other exchanges. At least that's what I'd do. If they don't, price will continue falling, as people pefer to have $ not BTC in case this goes to court. Gox will probably limit the BTC withdrawal amount. Title: Re: The Fleecing of Mt. Gox Post by: prophetx on February 16, 2014, 03:20:28 PM well at least they haven't gotten hacked and had a bunch of btc stolen
not yet at least Title: Re: The Fleecing of Mt. Gox Post by: AceOfWands on February 16, 2014, 05:08:47 PM On my working hypothesis, the smart coins are buying, and the dumb coins are instant selling. Thousands of dumb coins captured on the way back down, and the price won't go much below the previous floor of 365, then shoot back up to 450 quickly... just at a guess. Some lucky limit sellers get to buy back in at a BTC profit. Cool. Hmm. I don't think I shall subscribe to your market analysis service then. Damn, wish I'd guessed differently myself. I held on to my 2 BTC, having canceled my sell order at 520 because I didn't want to play. Now they are down to half that. Doh! Doesn't prove the market isn't being manipulated though. |