Bitcoin Forum

Hi guys, sorry, I'm completely new to Bitcoin.

Tell me, if I would invest in Bitcoins @Mt.Gox now, I wouldn't be able to receive the Bitcoins, due to the "payouts being frozen" correct?
So I would kind of speculate in the option that Mt.Gox will release my newly acquired Bitcoins at some point rather than going bankrupt, correct?

This is a matter of some debate.

Don't listen to anyone who claims to know.

Thanks for your rapid reply, yogi!

Then here's another question:
I've read that some people on MtGox are waiting on payouts for months now.*
But that particular "payout problem" seems to have been only about US fiat payouts. Why or how were people continuing to trade, when there was a payout problem for such a long time? You know: If people are waiting for millions and millions of cash, why/how does trading continue on the platform that is responsible?


*example source: http://bitcoinmagazine.com/7064/with-current-processes-mt-gox-usd-withdrawals-could-take-22-months/

This is well known to those of us that frequent the forum. The answer to your question is we don't know. I can speculate though:

In my experience most bitcoin owners don't frequent this forum and things that are common knowledge here are alien to them. So these were the people trading on Mt. Gox. Proof of this is the fact that the MSM had been quoting Gox prices up until the latest crisis. Even the fact that fiat withdrawals were blocked for months didn't filter through to them.

That's really interesting observation about the relationship between the fact that most bitcoiners don't frequent this forum and their willing to make a deal with MtGox.

Can you buy bitcoins at Gox and then transfer them to another exchange to get the 600$ equivalent per coin?

better hurry up!

I am sure a lot of people want to do this, but I think there is too much risk, others may disagree.

MtGox is the best place to buy BTC, super cheaps

one user from btc-e said he attempted to get money on gox and it vanished forever, not kidding he never received it.

Yes, if you want to use mt.gox.
Some people stopped using mt.gox months ago :)

 i dont think that is good idea! dont use mt.gox..

Well like everything it is up to you. Will you buy or not. Later you'll know if that decision was good or not. Its same like life, you have to risk to gain, but you have to know when to risk and when not to.

when i saw the news and seen the price drop on mtgox i deposited 1000eur to polish mtgox bank account from my polish bank account and 1000eur was in my mtgox account the next day !!! i managed to buy coins at 102eur each :) and i also managed to nearly triple the coins by arbitrage trading on gox. got 17 coins now! :)

Do not use mt gox !  >:(

Forget MtGox they only sell magic cards

Dont buy from Mt.Gox!

Withdrawals have commenced again, slowly but surely.

Really? Do they require more verification?

it's a bit risky, we can't possibly know what they will do as they have turned scam I wouldn't give them my USD..

they already broke their business forever why wouldn't they take your USD and run? :D

Have they actually turned scam then? I didnt realise this was fact?  ::)

depends on what you actually see as a scam, the sign that they are not paying and that the 1 BTC = 278$ is enough for me..