If Bitcoin is actually broken then it good news for none of us. The exchanges might even run with our money. Do we have a word from the dev team yet?
If i understood correctly, the issue was very well know months ago, its not like mtgox miraculously discovered some bug It is not broken, Mt Gox is run by morons who got rich on bitcoin and think they know how to run an exchange. This is gross incompetence and that is all. If bitcoin was broken there would be problems everywhere. ALl the other exchanges are up and running, Gox is the short bus kid. Maybe when gox is trading zero they will realize hey you cant hold customers hostage and let them keep zombie trading. You are correct... besides the fact that bitcoin IS broken... kinda |
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bitcoin is broken
/end thread
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MTgox should be completely ignored...
It's not their fault bitcoin is broke...  |
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maybe this is the bottom??
negative |
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American here, and I never went to sleep! Although I am hardcore  But once the people who have jobs wake up, shit will hit the fan! |
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This is actually good news
WTF are you smoking? |
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If they are insolvent then say goodbye to both fiat and btc. Holding one over the other would be pointless
If they close down or run, then I would rather fiat. If they withdraw the BTC it is gone forever. If they withdraw fiat, it can be traced, confiscated, and maybe eventually returned to the customers. I would just make sure to screen cap or have some sort of proof of the amount of fiat you have on Gox.
This works for any case on any exchange, when there is fear you might loose holdings, always go back to fiat, where laws are applicable.
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Any ideas? Jeez. This whole sorry saga says more about the gossip mongering, fickle nature of the cryptocurrency market than any one exchange. Who gives a flying f*k what happens to Gox on Monday - notwithstanding individuals who can't get their coins off. As far as the rest of us goes it just goes to show how ridiculously insignificant and gossip driven this market is. The fact that a bit of rumourmongering about one exchange (that was diminishing in significance anyway) has everybody loosing sleep, panic selling, and starting threads on Bitcointalk like a bunch of texting-teenagers tells you all you need to know about how far cryptocurrencies have to go to be taken seriously. Wake me up in December when the Winklevoss's **might** have managed to take us one step out of the nursery. Ok Bye! |
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Another fairly new member screaming nothing is wrong with Gox. It should mandatory to show a users buy in price to show reasoning behind their thoughts, which in this case are entirely wrong.
I remember screaming "everything is ok" when I bought in high and the price tanked shortly after. Then I learned that I knew nothing, and to use price swings to my advantage. So go educate yourself before you claim everything is fine.
"I bought in high and the price tanked shortly after"hmmm..... an element of rage here? I bought in at $40 if you must know! Rage? Lol..No.... I had bought my biggest stash and then we had the hard fork crash and I panicked, so no rage here. That was almost a year ago. |
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Any prediction on what will happen when Gox does not release an update? It's almost 2pm over there.
Well, according to my highly scientific poll https://bitcointalk.org/index.php?topic=456413.016% of users here think there will be no update and with every hour that passes th emarket is going to get more jumpy. If we go past 5pm Tokyo time and the US starts waking up to find no news I imagine it could get ugly for a few hours. +1 My vote was that there will be no update. I thought "What Would Gox Do?"…. which would be absolutely nothing. |
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Any prediction on what will happen when Gox does not release an update? It's almost 2pm over there.
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Do we have a word for the opposite of FUD? Im more inclined to believe the second post in that threat. Antonym for FUD = GAC (gallantry, assurance and conviction)  and I agree: Unless, Gox fixes the BTC withdrawal AND fixes fiat withdrawals AND introduces say zero fees, then I can't see a scenario where we are not going to start testing Risto's $450 capitulation mark in the next 14/21 days.
I think Hyphymikey has you on ignore! Nah, I don't ignore anyone…. I think creekbore and I are on the same page! |
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Everyone is watching Gox so closely, I suspect someone is trading with themselves on Gox to swing the other exchanges in their favor, where their fiat and BTC are actually worth something. Watching the walls on Gox, the bid side will rise at the exact moment the ask side falls, some trading happens, then it reverses. All the bid/asks in a $100 range shift back and forth. Seconds later, Stamp and BFX follow. Also, someone puts a big wall at say 700 on Stamp, then Gox asks will fall and price will rise until the wall at Stamp gets eaten. Then seconds later the ask wall on Gox comes back keeping the price from going further up. Rinse and repeat. This can't be someone taking advantage of bots can it? Who would keep that much ammo (+500btc) for their bots?
Another BTC500 ask wall on stamp at $700, followed by a price increase on Gox. Hmmm I wonder what happens next? |
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Do we have a word for the opposite of FUD? Im more inclined to believe the second post in that threat. |
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Does this not contradict all your recent predictions?
Or are you still expecting a drop before that? With your every 35 days we crash scenario.
I believe you have mis-quoted me on this. Or misunderstood what my posts are about. Particularly this oneHere: 10 Days Remain!!!
10 days till??? And don't say 11 of February. Simply the 37 day cycle ends in 10 days, draw your own conclusions to what may occur. October 23 -► November 29 -► January 5 -► February 11 Price tanked those days…. So what am I missing? |
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~60 hours till we hit 800's.
Does this not contradict all your recent predictions? Or are you still expecting a drop before that? With your every 35 days we crash scenario. |
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btc-e 717
stamps 695
interesting...
Btc-e probably gonna reach 750 before stamp tears down the walls at 720 LOL…. When? In March? Maybe! If Gox starts withdrawals, every Gox user should transfer coins to other exchanges and sell immediately (to lock in profit), driving all other exchanges downward. If Gox doesn't start withdrawals, fear will multiply, driving all other exchanges downward. It is currently a lose lose situation if you are bull…. for now. |
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Should we start calling it Ft. Gox now that it is a fractional reserve bitcoin exchange that doesn't have enough funds to cover everyone?
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300 in Feb'13 -120 for a car -80 stolen -50 margin trading -50 on random purchases =0 coin now  Should have put them all on a paper wallet and not margin trade… ugh |
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