Bitcoin Forum

When Bitstamp starts up, are we going to see a rise in people removing their fiat or coins?

Everyone will probably remove their coins... I know I will be shutting my account down & if most people do that, I could easily see them running into a mt. gox scenario where they really don't have enough funds to recover, and they must shut down  :'(

Who knows, I mean Bitstamp said they will reimburse ALL lost coins, so in principle this shouldn't make them sell, however knowing that 19k can be sold at any time, people could likely sell, not just to liquidate their BTC holding so they don't risk losing them in another hack, but also because 19k are waiting to be sold.

The hacker would be a fool to move coins on an exchange with KYC requirements. Lets look for a huge arb between BTC and the rest of the pack.

Didn't Pantera pull their Bitstamp support entirely? And their trading engine is still down? That doesn't look very good at all. Most likely, they're taking a page from the Mark Karpeles playbook right now and buying time to tie some loose ends together before they admit that the scope of the hack was larger than initially reported and get the hell out of dodge with suitcases full of cash.

Remember, there were bit-tards defending MtGox right up to the point that their website went offline completely. Most bit-tards don't have a memory of +/- 2 days, so this could all take them by surprise... again.

It depends what is going one.

Things like if Stamp will have or not limits on withdraw and so on.

Also if they go online and some time they stop withdraws price will plummet because it will show they are insolvent.

maybe they will pull a gox and allow only people to buy and withdrawal btc so it artificially skyrockets price to moon levels again.

That would be hilarious.

price will rapidly increase if they buy 19k coins...

The opposite will happen once 19k are sold.

agreed, 100%

Cut your loose

Nice catch :D. A troll with poor spelling...

It is extremely probable they'll never reopen, for the reasons OP and others have pointed out. Why reopen if a fund run (both BTC and FIAT) is the most likely scenario and the outcome of that scenario is their economical failure? Better to earn time with vague promises while the money is laundered in bank heavens.

I agree the odds are there will be a bank run.  How they handle it may define the future of BTC for some time.

so, good bye honest. This is exacly what crypto's world doesn't need

Hah and what if the thief is holder? ;D
And even if not, selling 19k coins would send you to jail really fast.

first of all, wait for them to restart is the most important

Still down right now,I guess lots of coins would be sold after the restart.

IMO they will be withdrew not sold.

bitstamp is up.
No panic selling in sight

Yep. I see some panic buying.  :P

People are dumping fiat to hop on leaving train and catch sub-300 :)

I thought I would panic buy at first, and then I changed my mind. Bitcoin is still in a bear market and we still don't know if Stamp is liquid anyway. The price will swing too wildly to really predict, so I'll sit on my fiat and wait a bit to see. Bitcoin didn't hit the moon on paypal news, so I don't see why for most traders their money NOT having been lost is a reason to go to the moon.

take a plane to china ,a deal could be done easily in the managers office of some chinese exchange
its a differnt world over there ,you wont know until you have lived in it how corrupt every deal in china is

we will have a small dump to 265 after that an allmighty pump to 325$

The last thing I read said all the stolen coins were moving, being split up into different addresses, but only a small quantity had been sent to a tumbler. The hacker appears to be taking his time to launder the coins, so it's unlikely he will immediately dump them.

Think they might have been buying back the coins these days?
Buying now on their own exchange has a risk of causing to much of a sudden price rise...

How do you think is that different from buying coins on any exchange?

With no fees for about a week or so, it maybe actually be very very liquid at launch.

Not necessarily just withdrawals, but actually day trading and liquidity taking advantage of no commission fees.

People here are idiots, really im annoyed with fucks here more and more. First, what selling of 19 K  coins are you idiot talking about? (some of the first writers to thsi thread), if anything, bitstamp will have to buy probably those 19 K coins so thats a reason to buy.

You know what will happen when the exchange opens? NOTHING. Price will go up to the level of other exchanges, some people will withdral money and BTC from bitstamp, thats all.
Look at the price of btc after announcing the Bistamp hack, nothing happened, the price of BTC didnt care at all, just the opposite, it rose (wtf ?), probably because not like other exchanges, the people around btc have confidence in bitstamp. Also look at the price spike after announcing reopening of bitstamp. the price will go a little bit higher probably, at least for a while.

People here are generally utterly idiotic computer idiots, i hate this forum more and more :-(.

I meant that I think they might have been buying since the hacking took place, in other exchanges while bitstamp was down.

This ^. I'll stay in fiat until the air clears and a solid direction or stability is found.

I suspect most traders are sitting back and waiting to see what happens. It explains the low volume of orders on Bitstamp.

because the price was too cheap
but now the price is normal