If Gox enables withdrawals, goxcoins will no longer be cheap. This will happen almost instantly.
The cheap goxcoins will be the ones that people are already holding. They bought at 90-300 and never sold them. |
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Why do people here bet with eachother instead of betting with the market?
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Gox dies -> people replace their lost coins on stamp -> stamp goes up or those people are then broke or are disinterested in bitcoin
Gox lives -> no more cheap goxcoins to compete with -> stamp goes up cheap goxcoins will be flooding the rest of the market
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Don't use price movements to deduce that specific facts have occured - it is a big mistake. Sometimes price just moves on it's own due to a group mentality and EVERYONE deducing that the event has occured so it becomes a self fulfilling prophecy that the price goes up. Other times, a significant event HAS occured but it is not the one you are thinking about.
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 Biafore is this you? |
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Goxxed again! |
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I see 5K of walls around 300 on bitconity now but they're all gone from clarkmoody.
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 Dafuq? Did new information come in about gox? |
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Will be below 250$ within 6 hours. Asians bought based off u.s. speculation on withdrawals news.High has been reached.u.s markets will sell come morning
How do you know that it was specifically asians who bought? I have been analyzing market trends for the majority of my adult life. O.k. but can you please point out what exact data or trends you use to come to that conclusion? I am curious and might want to to learn how to recognize this myself. |
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Will be below 250$ within 6 hours. Asians bought based off u.s. speculation on withdrawals news.High has been reached.u.s markets will sell come morning
How do you know that it was specifically asians who bought? |
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As I shift into my final bear form to stave off this latest bounce, I should remind you guys that there is some very strong FUD going around right now that has nothing to do with bitcoin.
How would an upcoming U.S. (or multinational) economic collapse affect bitcoin?
Some of you may have been hearing all the theories within banking and foreign relations about an impending U.S. economic collapse which would result in a depression, a collapse of the U.S. dollar, civil war, and possibly even a Chinese takeover of the U.S. Also, it might not just be limited to the U.S. but apply to other countries as well all over the world.
If such an event were to occur, would bitcoin be a reliable store of value and what would it mean for the price of Bitcoin? Would bitcoin
A) Rise because many people are fleeing to Bitcoin as a store of value, such as with Cyprus and China. or
B) Fall in value due to a REDUCED demand due to:
1. People exiting bitcoin for more reliable stores of value such as gold.
2. Bitcoin primarily does business in the U.S. and primary trades against USD, which will both be crippled.
3. There will be no interest in speculative investments once people enter into survival mode.
4. The banking system may be disabled, leaving people unable to send money to exchanges.
5. The central banks may ban business with bitcoin exchanges such as in China or Russia.
6. The internet will be inaccessible.
C) Stay the same because bitcoin is now so popular all over the world that the U.S. doesn't really matter. Or some other reason (explain)
D) I'm a banker or government official and have recent updated information that there is no possible chance of an apocalypse. This is bogus. (still answer A,B, or C hypothetically please)
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Strange how everyone enjoys watching the logical crash but cries about the inevitable rise.
People have built up a serious emotional investment in wanting to see MtGox die, and I feel that they are associating this with a price of 0. They probably also can't handle how MtGox leads the other exchanges in direction. All this anger and hate was really quite incredible to watch, I'm quite certain that it has contributed to bad decision making. Finally someone who understands. |
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If gox does fix withdrawals, there will be two groups of people on gox after this:
1. Those who panic sold at the lower prices, lost everything, are jaded, and may never come back to bitcoin again.
2. The traders who suckered the money out of group#1, are sitting on a ton of coins at MASSIVE profits, and will take their profits on bitstamp where fiat withdrawals are more reputable.
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350 Gox? Too high - makes no sense....
90 made no sense either. Lunatics just follow trends like crazy. |
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I find it absolutely astonishing that gox dropped all the way down to 90 on unproven speculation, only to rise all the back up to 340 and rising, on more speculation. What is it with the lunatics in this market.
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Don't panic too hard. I believe we have some obstacles here still:  |
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If Gox enables withdrawals by Monday/Tuesday, which the markets are already anticipating (thus the price is $620 on stamp now) the price will shoot up back to $800+ range imo.
Sure alot of people will withdraw their BTC from Gox into Bitstamp or other exchanges or wallets, but that doesn't mean that everyone is going to sell all at once, also in the rally there is going to be alot of buyers. There is going to be alot of profit taking from those who took risks transferring fiat buying low but those are minority.
Really? It's going to fly right past every major resistance trendline and ema including 1D, 3D, and 1W, right away, all because of gox withdrawals? Are you nuts? |
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Volume, what volume? 24 hour stamp volme: 20K... clearly a trap. There are all kinds of resistances in the 600s based on longer charts. Do you really thing we're ready to break through them all just because gox and on this low volume?
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If this gox rally continues, there may be a possible extension of the bull trap to ~660, like so:  This is exactly what I was talking about last night which I was worried about not being there. With it being there, it would be complete with the patterns of previous years. |
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Let's hope for the best, although i doubt this 'news'
And what do you consider the "best" to be? Would it be "best" if mtgox started running again, got popular and widely traded and followed, only for it to pull more crap and betray bitcoin users again down the road, causing more drama and price crashes? Next time people might lose even more money in it, and it might damage public confidence even more. I think it would be best if mtgox disappeared and we started fresh with solvent exchanges with proper management and trust. |
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