Well, not so much money at the end of the day.

Quick delivery is definitely the priority in this market, just look at what kind of return the Avalon batch #1 customers had despite of hashing with chips that are slower than a FPGA.

That's why everybody is so eager to see a working prototype from KNC. The sooner the first chips are seeing hashing, the sooner they will arrive to customers hands.

"insider trading" is unavoidable and happens in all the markets. People with privileged info will use it to make money.

Anyhow, trading in this market is pretty risky - and pointless. I think this is a "hold" moment. Just choose what you wish to hold, fiat or BTC.

For Shroomsy and all the bear haters, here goes the disclaimer - I'm holding mostly BTC since $105ish, and I have 0 funds on exchanges - they are all on my bank account or in paper wallets.

I think there is a lot of FUD going on, and a lot of panic that might be blown out of proportion.

I've not requested any withdrawal in July or August, but I did multiple high 5 figures withdrawals at the end of June (SEPA) and they cleared very fast (in the same week). I insist on this fact because even if it's true that at that time there was no "USD hiatus", people was already complaining very often about heavily delayed withdrawals (at that time especially SEPA).

This wasn't true in my case, and honestly, i realized that everybody complaining reports smallish withdrawals (less than $20k, normally less than $10k). I've not read a single complaint about people with big volume being unable to withdraw their funds, and believe me, if a trusted status member was unable to withdraw his $500k we would definitely read about that. To the contrary, people with biggish volumes and trusted status at Gox reported their money came thru the last weeks (two concrete names: mrbigggg and Epsiking - and both deal with USD).

Don't get me wrong, I acknowledge Gox is fucking up, they have ridiculous limits and they are fucking with a lot of customers, but I have the feeling they are not broke and they are just priorizing their biggest customers: this might feel bad to everyone else, but if they really have a hard limit of 10 daily transfer from a business POV it makes sense to take care first of your best customers, the ones that put the food on your table.

This said, their PR is shit, fear is spreading and tens of k's of coins are leavig Gox for good because of their ineptitude. I for one will bet on them solving their problems, as them were good to me... If price at Gox reaches $130 soon and the price difference with Bitstamp is still big i will sell a few hundreds of coins and ask for a withdrawal to try some arbitrage, and i promise to report back here. Let's see how this develops, it's am uncomfortable situation, but there is some profit to be made.

Try making trades of +300 coins at Bitstamp without MAYOR slippage and then report back please...

Even on Gox, the slippage is a huge profit killer for traders - on Bitstamp is just impossible to daytrade for anyone with a little more than play money.

100% agreed my friend, many indicators say we are going up, only uncertain factor is the distortion of the price cause by Gox problems with withdrawals.

Glad I bought back at 101.9x 30% of what I sold at $129, now wondering in which spot to place the next bid...  $105ish?

Thinks are getting interesting nevertheless.

You are right. We are approaching uncharted waters, ASIC companies that finance the units with their own money have no incentive in selling units at a price that bring ROI to their customers, as discussed many times this will likely lead us towards centralization (end game for BTC) unless the community creates crowd funded, open source projects...

Shipment is supposed to start very soon, in June I was told in August they would present a working ASIC prototype - any news on that?

BFL's page about the monarch is so delirious it seems a fake.

The ASIC mining business is going so crazy that it must collapse at some point. IMO how mining will evolve from this point is crucial for the future of BTC, maybe it will be more important than regulation, and it's not looking good.

Thanks for the kind words phoenix - and sorry for derailing your thread lucif

Making a long story short: bigger or smaller Gox is indeed delaying transfers, especially usd, which is distorting the exchange rate. The question is how much? Gox always worked well for me, so I'll bet on them solving their problems. We'll see.

Funds can be sent to the Exodus address till the end of August – right?

Rational speculator: being called a liar = being insulted.

And I've made both good and bad calls about Bitcoin short term price movements, but I never lied as you say:  show proof if you accuse other people of lying or just put your money where your mouth is.

I clearly remember how Knc stated they would have a working prototype by August. What do you say Bitcoinorama, will you be worried if this milestone is missed or not?

Greed definitely took over. "ASIC business done right".

I think you are mistaken about the mentality of those who invested in BTC before the March/April bubble. The vast majority might allocate some BTC to actively trade, but they have for sure a healthy amount of coins they will hold for the very long run (+10 years).

You seem to forget that early investors understand BTC was designed to go bust or skyrocket well above 5 figures in USD per BTC, possibly 6 figures. Is basic math.

Wow, so all the people at which you are laughing at in this ead will be worth dozen millions of $ very soon, that's your prediction?

I can give you any proof you want through John K or another trusted mod if you are willing to put real money where your mouth is, for example official bank statements and access to my Gox account via team viewer or similar. So, willing to bet 100BTC that I told the truth, or you believe me now?

Bet on it, multiple end of June SEPA withdrawals that cleared in less than 10 business days, escrow john K.

I could, but this is not a court room and I don't see why I should prove nothing to you. If you believe I would lie on this matter because of some twisted reason or hidden agenda, so be it and just don't take into consideration what I wrote,  for me you can f*ck off (EDIT: unless you are willing to put your money where your mouth is, betting against me on the fact that I received those withdrawals very fast).

BTW: last withdrawal I requested was on late June. I did not request any withdrawal in July or August, I just share my experience because in that period (end of June) people was already whining a lot about delayed withdrawals, so I was pretty nervous because I needed a biggish amount fast. Money arrived within the same week.

Regarding USD, check the post history of mrbigg and epsiking, they have biggish volumes (trusted status, etc.) and they reported about  receiving their money in the last weeks/months.

I agree that until Gox pulls its shit together the price is distorted by the unavailability of steady USD withdrawals,  which make the BTC price higher than it should be. From the other side, biggish SEPA transfers worked charms for me (and I realized that high 5 figures withdrawals clear faster than smaller ones, some times I received my money into my account 2 days after requesting the withdrawal. Thus, transfers are processed in order is BS: bigger transfers have priority, I experienced that myself).

This leads me to think that whale traders/market makers outside the US are not having this big problems everybody is whining about in these forums (note that everybody complaining requested to withdraw very small amounts, 10k or less), so all this "Gox is broke" song may be blown out of proportion.

We'll see, personally I'm betting on Gox solving its problems and I did not move my funds to Bitstamp. I'm in the EU and not in the US, this obviously had his weight in my decision, but nevertheless any problem Gox might be suffering will hit the other exchanges for sure.