Bitcoin Forum

Panic Sell brings price down to $120, they stop trades, and now BitStamp is down to $79 per BTC.

Will you trust MtGox after today?

I don't trust mtgox since 2011, but today I'm rather pissed at them, for spending the last two years making their service even worse than it was in 2011, and then making an idiotic decision to fix it for 12 hours while newbies are running around bleeding their last coins.

Way to go Gox, hope you made yourself some money, otherwise you are not just incompetent but also stupid.

And to answer your question - yes I'm glad I dont have much coins at Gox. There will be many nice buying opportunities elsewhere, while they are down fixing what should have been fixed two years ago.

Don't know what you mean by trust. I don't think Mt.Gox is going to steal my bitcoins but I definitely opening a bitfloor account after today.

I will never use Mt Gox again.

The weird thing about deciding to halt trading is that it imbalances the market towards selling.

You can move your BTC to another exchange easily, so cashing out is as simple as waiting a couple hours for the transactions to confirm.

But there's no trading and no MTGOX-USD codes, so your dry powder has to take the slow boat through the traditional banking system.

I expect that as soon as they reopen trading there will be huge buy pressure as people's trading fiat comes back online.

No - but then I haven't REALLY trusted MtGox since around July 2011 or so - I just fiddle around with small change there.

I already didn't trust them. They fucked up Bitcoin in 2011 and I have been saying for months now that they were going to fuck it up again. $70 at BTC-e already. Bitcoin will be worth $5 (maybe) by the time they are back.