Yup, as some people stated before, a big business like that shouldn't avoid questions. If you were earning as much as they do from fees, you could easily hire 1 or 2 people to just sit there and answer emails, manage facebook and twitter accounts or just being a responsible CO, sit your ass in front of the screen for 30 min a day and write a summary of problems and actions taken, for all to see. Next thing is the weekend problem - wtf? You run a company, it gets in trouble, people are losing patience and you take a 2 day break from work because it's weekend? Maybe I'm strange but I'd lose sleep, call freinds to help me and sit there whole day trying to resolve this. That's why even if they manage to survive this, their attitude should be a clear sign to stay away. If something like this happens again, they will just ignore your claims and eventually pack their bags and run.
I have a feeling even if they worked throughout the weekend they would achieve nothing. Things are worse then they appear. They spent the bitcoinica funds and more, also having the FBI lock down some funds, therefore having to halt withdrawals. They will have to open withdrawals manually, allowing only what comes in to go out because they have nothing left (just like they did with fiat). |
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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.
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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?
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Newbies and Jr Members say Gox will not fail.
Sr Members and Hero Members say Gox will fail.
Hmmmmm
Sounds like the newer members bought in too high and hoping for a miracle, which I believe will not happen. I do not think Gox will close any time soon, but they will not restore withdrawals in a timely matter.
What does being a Sr. Member and a newbie have to do with anything, I have been trading an following Bitcoin sense 2010, + NY stock ex for 13 plus years. And visting this forum for a few years... But im a total newb? It has nothing to do with anything. It is just what I see on this forum. |
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Newbies and Jr Members say Gox will not fail.
Sr Members and Hero Members say Gox will fail.
Hmmmmm
Sounds like the newer members bought in too high and hoping for a miracle, which I believe will not happen. I do not think Gox will close any time soon, but they will not restore withdrawals in a timely matter.
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Just took a ride with Dr. Who…. Gox will close in a month.
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<382 oh shit (in a good way) = buying spree
<266 oh shit (in a bad way) = loss of confidence among bitcoiners
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Someone on Stamp needs to either reconfigure their bots or learn how to trade. Never market buy into a crash. Thats just idiotic.
Maybe his intention was to stop sell off - ah, these bitcoin millionaires. Well they succeeded….. for now. |
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Someone on Stamp needs to either reconfigure their bots or learn how to trade. Never market buy into a crash. Thats just idiotic.
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GOX is not out of fiat or BTC, they just choose to hold onto it incase they have to turn it over to the authorities. I suspect a few VIPs are getting coins and fiat out of GOX with no trouble.
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 Watching the Fall#2 in 4K, popcorn in hand. |
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Holy  Did i just see a 1k coin sell @ gox? I think our whale hit 1K sell on the wrong exchange lol |
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WHOA GOX WHOA! SIMMER DOWN NOW
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Timber! Stamp wall about to fall
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Hm, from what I have been reading, I would think that MtGOX maintained that 10% premium over market price to (a) encourage people to deposit BTC there, and (b) discourage clients who had USD balance from converting it to BTC and moving these out.
Since they have now stopped all BTC withdrawals, pure and simple, those two reasons do not apply any more...
+1 And lets add to the fact that without BTC withdrawals, you would be better to convert to fiat. Also, I'm pretty sure Mt.Gox is letting some coins out to their VIP customers, which are dumping on the other exchanges. |
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Now that some of the buying power has been wiped out over the last 24 hours, expect a bigger weekend dip. You people are naive if you think we are in the clear now.
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 The fact that this is possible means….. |
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Of course they don't store a huge sum in a hotwallet.
They can rollback LTC trading, hoping they can rollback BTC aswel (ofcourse stamp is a problem).
Well, consider whatever amount withdrawn lost. They cannot roll back the trades of LTC that have been withdrawn. |
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Its more of a matter of how much LTC is in their hot wallet. Minimal trading was done in BTC over the "buggy period"… 175,000 LTC was traded, which is more than the usual 10K daily volume
Which proves that someone was most likely using the BTC price to manipulate loan amounts and profit in LTC trading.
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Are any of you guys going to continue business with BitFinex after this?
I see a couple of large transactions on Bitfinex (79 BTC and 101 BTC) at low prices around the $680 mark - then virtually no trades after those - the price is back up now. What makes people say Bitfinex is hacked, though? Read from post 1724 on |
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