The price on gox has not changed and the price on bitcoinbuilder has increased 30% now.
The dump brought it down from around .33 I think EDIT: It's like trading altcoins on Coinedup !!! |
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Someone is eating up 1000s on BB and wants more!
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Price today is as low a 0.2btc/goxbtc. The opportunity was too good to pass up so I have gambled some more.
All those people who wanted cheap coins? Here they are.
The question is whether they will be usable or not.
My feeling is that might go up a little now as the panic seller seems to have left. Bitcoinbuilder works well and the dev Josh is straightforward friendly guy who responds in person to an e-mail (although he's probably getting more than he can handle this week). |
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Someone just got their BTC into Bitcoinbuilder and bought some of that action!!
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ok the last days the rumours about something odd with their prices really increased
there is insider trading or something going on
withdrawals with the TXID were seen in the block chain meaning it should be possible to withdraw soon. So people started buying the cheap coins. Thus price increased. Pretty simple if you read between the lines. there are also news about artificial floor of the price Regarding the floor there are also, and this is for certain, a sizeable number of speculators who have been transferring money into Gox by whatever means, fast or slow, they can, wanting to buy cheap coins. I think this week is when most of that money will be processed. |
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Hey! What's going on with Bitcoinbuilder? Last price 0.22 with gox/stamp 0.29. Wtf?
An American woke up early to check on how things are and freaked out |
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Someone is tossing 1000s of Bitcoins out of Gox's window
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Who knows?
But perhaps look at it another way: if there is a big hole in the books, how would it have got there?
IMO only a fraction of what should be there could have been mistakenly given out to people abusing the malleability thing.
I also find it hard to believe that Mark Karpeles could be re-investing all his customer funds in other ventures (as banks do) - I just don't see him interested in or capable of setting up properly a fractional reserve system and then using the bulk of funds for other endeavours.
I know there's a lot of hate out there for him but I don't think he would just steal coins.
So perhaps there are no good reasons to think there is a hole in the accounts and that this is simply bad management, overwhelmed by new customers from all over the world, regulation issues, etc.
I also believe that the pressure of negative public opinion is getting to Mark Karpeles very personally but that he is the kind of stubborn guy who will just refuse to be pushed into being open and resents many of his customers, leading to big communication problems.
Ideas?
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<SarahCoinBit> Sorry but if it was that simple we would have done it by now. There are a number of factors that hinder how we communicate, especially senior management, but we are not hiding anything and your coins are safe.
Well thats a relief
Interesting. I would say it sounds honest in all respects (don't know how much SarahCoinBit is really aware of but...), giving what could be construed as confirmation that things are intentionally quiet to draw this situation out longer... What was your question? "Why has no update been released today?" ? Also, how to you log into this IRC? I suppose you have to be "auth to services" but I can't see where to sign up. |
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according to the irc, there wont be any official updates today
Was it in chat? Can you post any extracts? |
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What is the usual "update" time, if in fact it will be today, like in 1-2 hours?
Yup. But the way this is playing out they might just decide to wait until later in the week to say anything.  |
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So is Mt.Gox going now to <$50 ?
Unless there is an announcement that they are shutting up shop for good I can't see that happening. Remember that over the past few days a whole lot of speculators have started initiating transfers into Gox in the hope of getting extraordinary discounts. Some of that money has already arrived but my guess is that the bulk of it will start coming in today and this week. Whether it will be too late by then - in whichever direction - or not, I can't say! |
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Thanks but the news is not so clear regarding exactly how he quit. You say he "asked to quit" but I understood that as meaning he "was asked to quit" - by the board probably ! It would make sense that he was asked to as there was a petition delivered to them. Anyway, all nuances at this stage. Come on Mark - say something to the people! |
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Feel bad for those people selling on Gox. Unless you really are going to take Gox to court and you have to be in fiat, then just don't do that. Either use Bitcoinbuilder https://www.bitcoinbuilder.com/ for a better rate and access to your funds in 24 hours, or just hold on - all or nothing, balls of steel. Gotta be better than selling for $150. |
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Was asleep, what what the time window between the news and the crash? 5minutes or less? What was the first news source?
Don't know but looks like I went to bed 5 minutes before it started and I hadn't read anything. Always the way for me - miss everything! |
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The foundation probably thinks Gox may not end well, and threw him out early, before the foundation takes any damages
Probably? It makes a huge speculation difference! There are two mainstream guesses: 1. MtGox is in grave danger of bankrupcy, and they are struggling to buy coins from panic sellers to redeem themself. Evinced by lack of any positive news when they had plenty of opportunity to calm investors - and refusal to answer if they still have client's coins - once by Roger and another time by WSJ. 2. Mark K. is not a personage for his position. He is confused and naïve, and chose to evade the situation. (it could be 1+2 both) The foundation has little reputation, because in this crisis they did nothing to protect bitcoin as they vowed to. The media coverage and lose of public confidence is perhaps the worst experience in bitcoin history and they acted nothing more than pointing out that it's MtGox's problem - that tells a childish leader from a mature leader. Consider that now is the worst moment to quit from the foundation. If Mark K. is doing it, either he needs more bad news to keep GoxCoin down for him to purchase to redeem, or he has extremely bad judgement of timing. The former possibility is getting less and less likely as he got plenty opportunity for cheap coins already. So the wager is on the second, that he is oblivious and naïve - in which case quitting the foundation is a piece of good news, because a naïve leader with insolvent situation should be in of the 5 stages of failure acceptance; while a naïve leader with solvent situation has the heart to wrestle bitcoin foundation reputation with his. So: Bitcoin foundation kicked MtGox out = no influnce to speculators, the foundation isn't important. MtGox decided to quit the foundation = raise the wager on MtGox solvency. P.S. I looked up the news, Karl asked to quit. Bitcoin foundation may feel happy that they got rid of a problem, but their incompetence to protect bitcoin is evinced in this story, they are already doomed. Please post a link to this |
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I believe in good karma. Are you really going to defend Mark, their is solid proof he purchased a virtual office, explain this please. You have a office in a Tokyo highrise with private office, and staff... But decide to run everything from a virtual office. I've seen how bankruptcy proceedings work, the more assets you dissolve, the less you will have to forfeit in bankruptcy proceedings.
Yes, a company moving from a spacious high rise office would certainly be in line with a company winding down... pardon my ignorance, but is there any news reports around stating that Gox are moving to a 'virtual office'?"No" is the short answer |
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We need a scrapbook to store all these hilarious scare attempts.
I believe in good karma. Are you really going to defend Mark, their is solid proof he purchased a virtual office, explain this please. You have a office in a Tokyo highrise with private office, and staff... But decide to run everything from a virtual office. I've seen how bankruptcy proceedings work, the more assets you dissolve, the less you will have to forfeit in bankruptcy proceedings. I'm watching a thread go bankrupt in real time here... |
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I will guarantee Mt.Gox will see under $150 coins in the very near future.
You are looking forward to those aren't you? |
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I do hope your money arrives in Gox quickly enough for you to get those cheap coins you hunger for so badly  I do hope that you are feeling perfectly confident using your roll eyes smilies right in the midst of the largest dump volume on Bitstamp since $530 was tested. Give me a break! I use one little roll eyes smiley? What about the guy 4 up from me!! |
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