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After a ten day wait my remaining Gox coins are..... refunded to my account. In Gox.
I guess that's that, then. I look forward to the announcement that the doors have been flung wide open on Monday, meaning the prisoners are simply free to leave and take all their goodies with them.*
*And just like in all the other fairy tales, they all lived happily ever after.....
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If humans keep abusing Bitcoin then nobody will take it seriously and we will be holding digital nothing in our hands next year.
Humans - you just can't trust them. Everyone else is sensible. |
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Man, once Gox can process btc withdrawals again, this price is going to shoot back up. This fall is based on nothing tangible at this point.
Hmm... I am not sure - as soon as they announce 'withdrawals are back' then there would be a rush for the exit. I can't see how Gox will cope with that easily.... |
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Iīm 100% honest. I donīt plan to buy back anytime soon. After i have closed my shorts, i wonīt put more than 10-15 k into buyin and hodlin. If it doesnīt go below 400$ i wonīt buy anything. Edit: My SHROTS are btw 70% LTC cause i think that little tard scamcoin is about to fall even harder. MAX PROFIT  Well, there won't be much point in you hanging around here then. Look forward to welcoming you back when we do hit $400, good luck with things. |
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Gox looks perilously close to 800 now...
15 bux or so over is not too much of a margin. The thing is, even bears won't step in, no one will risk loading cash or coins in with no way out.
I don't want to see it, but I think we are watching it happen.
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Can Gox please die forever? It has become an embarrassment to our community. We can't be taken seriously enough with Gox being still around.
I hope your wish doesn't get fulfilled before mine - which is they send me my lost coins: From Gox: "XXXXXXX Support, Feb 07 01:02: Dear Valued Customer, Thanks for your reply. We can see that your withdrawal is yet to be processed. The transactions are being re-issued automatically. All BTC are safe ,the transaction will be processed and they are not lost or stolen. We are working to resolve the issue, but at this point we are unable to give a definite date of resolution. Please be advised that BTC on MtGox are not fractional. We apologize for the inconvenience this may have caused and Thank you for your patience. We will keep you posted when the withdrawals are processed and the transaction reaches blockchain. Best regards, MtGox Team https://www.mtgox.com" Note the slight tone of panic - I did not say my coins were stolen or lost - or accuse them of fractional banking!The exchange doth protest too much, methinks...? They are just worried people might think that. When they say: "We are working to resolve the issue, but at this point we are unable to give a definite date of resolution" ..people ought to be worried! |
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Can Gox please die forever? It has become an embarrassment to our community. We can't be taken seriously enough with Gox being still around.
I hope your wish doesn't get fulfilled before mine - which is they send me my lost coins: From Gox: "XXXXXXX Support, Feb 07 01:02: Dear Valued Customer, Thanks for your reply. We can see that your withdrawal is yet to be processed. The transactions are being re-issued automatically. All BTC are safe ,the transaction will be processed and they are not lost or stolen. We are working to resolve the issue, but at this point we are unable to give a definite date of resolution. Please be advised that BTC on MtGox are not fractional. We apologize for the inconvenience this may have caused and Thank you for your patience. We will keep you posted when the withdrawals are processed and the transaction reaches blockchain. Best regards, MtGox Team https://www.mtgox.com" Note the slight tone of panic - I did not say my coins were stolen or lost - or accuse them of fractional banking! The exchange doth protest too much, methinks...? |
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Gox is really annoying, when the price rockets there - no other exchanges care, but when it crashes - they do follow
Not nearly as much though - the gap has closed from nearly 200 USD to approaching 50 - which is a hell of a lot. Of course they pull back - but the surprise (so far) is that the fall has been relatively small.... |
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I just got a 502 - so second attempt to get this post on. Maybe we are in for fireworks!
It seems that this forum and bitcoinwisdom use the "nginx" HTTP server http://nginx.org/en/ which, as I understand, tries to limit accesses from the same IP http://nginx.org/en/docs/http/ngx_http_limit_conn_module.htmlSo perhaps the blocked users are sharing a proxy server with many other users, and get caught in that nginx filter? Could be it's the old 'conspiracy theory vs. cockup' adage. I am sure I heard here last year's major outage was indeed Ddos. But of course - once it's down - lots of attempts to login may aggravate the issue and you may be correct. |
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Max Keiser reckons he's doing it. Same thing happened when he screwed up his launch this time yesterday.
I think it might have more to do with the fact that every time there's some unexpected price action everyone comes here to find out why. That happened yesterday before his aborted launch.
Did he launch today? I thought it was announced it was just being put back one day...? The man's ego is far bigger than his intellect, sadly. What is he launching? Keiser is a plague. Er. I guess it is obvious if you think about it: Maxcoin EDIT: Yep - I groaned too. |
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Max Keiser reckons he's doing it. Same thing happened when he screwed up his launch this time yesterday.
I think it might have more to do with the fact that every time there's some unexpected price action everyone comes here to find out why. That happened yesterday before his aborted launch.
Did he launch today? I thought it was announced it was just being put back one day...? The man's ego is far bigger than his intellect, sadly. |
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This place goes down when big things happen, last rollercoaster in Dec we were locked out for 24 hours at least.
To much of a coincidence to be accident.
I just got a 502 - so second attempt to get this post on. Maybe we are in for fireworks!
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How is it possible bitcoinwisdom works for some ppl and for some it doesnt.
This may suffice until you make other arrangements: http://hypron.net/bitcoinwisdom.htmlComplements of one of the senior members here.  Thanks but it doesn't work either for me (UK based) |
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Gox looks not far off dipping under 900 - any look at that ruler straight slope on a 1hour wisdom watch says 48 hours.
I am not predicting this, but I am concerned at the psychological blow if we see the 800s on Gox again.
I really thought as January ended, with all the bullish news it was time to get back in and I went full BTC - I think Gox is now dragging what should have been a push up into a slide down.
What I can get out of Gox, I am now converting partially into fiat again - I smell hungry bears.
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If an exchange's outstanding obligations (the sum of its client's account balances, plus pending bills etc.) are more than its assets (furniture, cash in bank, and coins in wallet), why would anyone want to buy it?
Reputation (lol), contacts/customers and a platform that has been mostly proven and is up-and-running. There may be buyers for their physical assets including computer hardware and software. That may be worth a couple million US$ at most. However, no one will want to inherit their client accounts, since they are not assets but debts. I would guess that the sum of all account balances (coins and cash that they owe to their clients) is much more than 100 million US$. Do they have that much in their bank and wallet? I have pennies in my account. If a credible operator took over, there would be tens of thousands in it. I am not alone by a long shot. We would be trading, generating commissions and fees. We only left because we had to. There is still a big demand for an exchange other than stamp that can handle big volume. it would be a tremendous opportunity for someone who could recapitalize Gox. Recapitalization will take only a few million. Gox could be a billion dollar company if the operator got his act together. +1 Rover was bought by BMW with massive debts and they only wanted the Mini brand. VW bought Skoda, which was considered a joke at the time. Gox is still the legacy 'headline exchange' that the media uses for the actual benchmark price when an ATH is hit. It would be recoverable very quickly and the cash in need only be enough for sufficient liquidity and a guarantee of safe withdrawal. I always traded there rather than Stamp until recently, even though Stamp was my first exchange. In BTC things move so fast I think this is absolutely right - Gox would be back real fast. Imagine if money stepped in, and promised secure withdrawals. |
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Hi All,
I've enjoyed the forum for the last month or so since I started buying BTC. Just wanted to join in hopes ShroomsKit would put me on ignore. Cheers!
Don't worry, he'll spot you - by now he probably only sees chart buddy and two other posters when he logs in. |
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Pray for a takeover
What would that mean? If an exchange's outstanding obligations (the sum of its client's account balances, plus pending bills etc.) are more than its assets (furniture, cash in bank, and coins in wallet), why would anyone want to buy it? Tens of thousands of verified customers ready to trade A Gox takeover that was credible would lift the market enormously - with the right timing it would be a steal. |
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Pray for a takeover
What would that mean? If an exchange's outstanding obligations (the sum of its client's account balances, plus pending bills etc.) are more than its assets (furniture, cash in bank, and coins in wallet), why would anyone want to buy it? Same reason Hostess, Chrysler, or anybody else gets bought out. Brand awareness, the domain name, name recognition, technical talent (yeah, I know), the trade engine, existing licenses, merchantcontracts, contracts with other payment processors, etc. Agreed - it would be worth buying, better run it could get back on top - it's not impossible and certainly cheaper than launching afresh. The only decision is whether to wait until they get it for nothing from an effective receivership situation and then spend to resurrect it, or negotiate while it's still functioning but with a guy who wants a fortune for the 'market leader' before it's tipping over... It's easier to pick it up for free when the lights go out, but the damage may be worse... I reckon they start negotiating as soon as possible and they are invited in so they can due a basic due diligence and see how bad it is and who key staff are - then wait until carpeles has no more cards to play and it's going up in flames to snatch it cheap and catch it just as it falls. Nasty - but the cheapest solution. I am sure sharks are circling. I hope it is what happens - rather than what looks like it may be a total implosion. |
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I see the spread is decreasing, .. lol are people willing to hold dem gox bux again?>
It's not that Gox bucks are getting any better... it's just Gox BTC becoming progressively worse. So the price of shitty Gox coins is decreasing when measured in shitty Gox dollars. Ironic, isn't it? Correct. When the gox price falls to stamp price then the market will have priced in equal (snowball in hell) chance of extracting fiat or btc. Yeah - but the run for the door will not be pretty - this will not be a small story if Gox melts down. Pray for a takeover - or watch a little carnage, this is not good for Bitcoin - it's not going to be like Silk Road, it will cast doubts on the whole system and the bitcoin doomsters will love piling in to celebrate the stench of disrepute. Krapeles is on the (already discredited) Bitcoin Foundation. It's bad. Takeover soon - or the spotlight we have on BTC might no longer see the sparkling future of Bitcoin for a long time to come. It may turn and focus on the 'burst bubble' story and the 'seedy and unregulated' line, if it isn't sorted - it won't be pretty. I hope some investors are in there trying to lever Mark out. This WOULD be good news - I wonder where Loaded and his pals are right now... Well, I mean you have to buy into btc, to transfer out.. which is still easier or more likely easier then fiat international withdrawals. Actually that is the point - you can't get BTC out either now.... That's why it's looking like the last nail if it ain't fixed. I don't mean to be a doom-sayer, but Gox was 'the big one' and now it has lost the plot. I can't see how, with lower revenues and market share it will fix the problems while an exodus of confidence is draining its reserves. There must be a tipping point, and it will go offline if it reaches it. Click... and it's gone? I wouldn't bet against it. Really. not everyone can't get btc out of gox, so my point is that almost nobody but those in Japan, really get fiat withdrawals at all. Which is what I was leaning towards in the statement that its still easier to get btc. The panic hasn't really shown yet regarding the btc backlog. agreed the gox thing appears to be approaching a tipping point. IMO - what's been happening is anyone with fiat has been buying coins in order to gradually ship them out. Hence the massive spike in the spread between exchanges - it was pushing up to 200 Bux over the rest at one point. Now this has been sliding down as more goes out than comes in. The current trouble is because either because they couldn't cope (with a glitch exacerbating the problem), or they couldn't afford it - and it's an attempt to slow the lifeblood leaking away. Any decently run large turnover company in the tech world (which Gox is) should not have a front page which STILL says: "Important Reminder: Due to the New Year holiday observed by Japanese financial institutions between December 29, 2013 and January 6, 2014, deposits and withdrawals are currently experiencing delays. For withdrawals, your funds will be placed into your bank account once your transaction has been processed. Please note that European transactions should not be affected by these delays" I mean - come on.... January the 6th? |
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I see the spread is decreasing, .. lol are people willing to hold dem gox bux again?>
It's not that Gox bucks are getting any better... it's just Gox BTC becoming progressively worse. So the price of shitty Gox coins is decreasing when measured in shitty Gox dollars. Ironic, isn't it? Correct. When the gox price falls to stamp price then the market will have priced in equal (snowball in hell) chance of extracting fiat or btc. Yeah - but the run for the door will not be pretty - this will not be a small story if Gox melts down. Pray for a takeover - or watch a little carnage, this is not good for Bitcoin - it's not going to be like Silk Road, it will cast doubts on the whole system and the bitcoin doomsters will love piling in to celebrate the stench of disrepute. Krapeles is on the (already discredited) Bitcoin Foundation. It's bad. Takeover soon - or the spotlight we have on BTC might no longer see the sparkling future of Bitcoin for a long time to come. It may turn and focus on the 'burst bubble' story and the 'seedy and unregulated' line, if it isn't sorted - it won't be pretty. I hope some investors are in there trying to lever Mark out. This WOULD be good news - I wonder where Loaded and his pals are right now... Well, I mean you have to buy into btc, to transfer out.. which is still easier or more likely easier then fiat international withdrawals. Actually that is the point - you can't get BTC out either now.... That's why it's looking like the last nail if it ain't fixed. I don't mean to be a doom-sayer, but Gox was 'the big one' and now it has lost the plot. I can't see how, with lower revenues and market share it will fix the problems while an exodus of confidence is draining its reserves. There must be a tipping point, and it will go offline if it reaches it. Click... and it's gone? I wouldn't bet against it. Really. |
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