[ speculators ] provide liquidity and absorb excess risk that average investors are not willing to take. They exist in every market. I don't see it as a negative.
I do not intend the term as negative. But the use of bitcoins for speculation or store of value is a side effect that is not strictly necessary for its goal (cheap safe etc. payment via internet) and may be a an obstacle to it. I have yet to see a convincing model (with numbers) of the bitcoin economy in the bright future; much less how we can get from here to there without being steamrolled along the way by banks, governments, and other competitors like Apple and PayPal. (I read somewhere that PayPal is already blocking any payment related to bitcoin.)The fast increase in value, for example, seems to have attracted a lot of undesriable players (greedy speculators, shady investors, incompetent businessmen, scammers...) which are already harming the project's image. You are allowed to sell virtual currency on eBay Classifieds now. No auction yet. So in this format it's safe to assume they will be allowing PayPal payment. No idea how this will be enforced. Of course accepting PayPal has its own risks. |
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whats to stop gox at buying bitcoins at its low rates and selling off on other exchanges ? just wodering
Against law. And when asked, Mark has said he knows it and that they are not doing it. lolz against the law. It was ok to charge people a 25 percent markup from all the other exchanges rates? not against the law to lock up withdrawls and hold peoples money ransom ? I wouldn't believe anything that came out of that liars fat mouth The same reason they weren't buying BTC from other exchanges and selling on their site when the price was higher. |
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today is the 10th of February, any updates about this?
are there any new rules on ebay to protect seller and buyer? I wasn't able to find anything about this!
No, there is no update, and there will never be bcause main problem isnt "blockchain", it's paypals rule that "customer" is always right. I felt it on my own skin. Guy gough BTC, i delivered, and than he clamed that he does not recognize transaction, that his account was probably hacked, and he got his money back and i lost my BTC. Basicly, scam is not "oh noh i didint got my BTC", it's "OMG my credit card / paypal account got hacked, pls return my money" and there is nothing we can do. It's happening all over the ebay all the time, not only BTC, and in 99 oit of 100 cases beay / paypal sides with buyer. As simple as that. When you deal with PayPal, calculate certain percentage of this into your price and youll be good. Well it's just a matter of willing... If paypal recognize as 'sent' the transactions of the blockchain where there is the proof of delivery from address A to address B where every passage is tracked and approved by many poeole, there couldn't be any problem. Could be considered like a phisical object and tracked like a courier could with a pair of shoes... can they say: "OMG my credit card / paypal account got hacked, pls return my money even if i bought this pair of shoes?" ... They ask the seller the proof of tracking, like could be done with cryptocurrencies... even easier in this last case since, the proof will be there forever online and won't disappear after few months like any courier database. As said is just a porblem of willing, if they don't intend to, they'll never do it even if it could be the safest sysytem of the world... If they used that method, I feel there would still be problems with giving the buyer and seller the correct BTC address. Still many ways to scam new buyers and sellers. I'd prefer eBay to just act as an escrow and release the coins after payment. Seller is guaranteed payment and eBay deals with disputes and chargebacks. |
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Just received my 2BTC back into my Mt Gox account. I tried to withdraw them 3 days ago... Let's see what will happen on Monday.
Sweet. I just got mine back. At least something is happening. But I expect it all to break down again on Sunday. Huge BTC withdrawal once they get things fixed. |
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btce higher than Mtgox!  for a brief moment. |
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Holding and buying!!!  That's the spirit!! Holding not buying. No fiat!  |
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Tokyo - JAPAN - February 07, 2014
Dear MtGox Customers,
During our efforts to resolve the issue being encountered by some bitcoin withdrawals it was determined that the increase in withdrawal traffic is hindering our efforts on a technical level. As to get a better look at the process the system needs to be in a static state.
In order for our team to resolve the withdrawal issue it is necessary to temporarily pause all withdrawal traffic to obtain a clear technical view of the current processes.
We apologize for the extremely short notice, but as of now all bitcoin withdrawals will be paused, and withdrawals in the queue will returned to your MtGox wallet and can be re-intiated once the issue is resolved. Customers can still use the trading platform as usual.
Our team will be working hard through the weekend and will provide an update on Monday, February 10, 2014 (JST).
Again, we apologize for the inconvenience, and ask for your continued patience and support while we work to resolve this issue.
Best regards,
The MtGox Team This is very good news in my opinion. Finally they stop the ongoing pilling-up of errors, stop the flood of errors coming in and also the flood of requests such as mine like "please refund my stucked bitcoins to my mtgox wallet" and by stopping these floods, they can actually deal with the problem/s. So to me, this looks reliable and I hope for the best for all of Gox users and Gox themselves. Good luck guys, My BTC withdrawal had a bad hash 2 days ago. I don't see it back in my account. So what does that mean? |
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What does bitcoin days destroyed mean? |
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I found mine too!  |
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Mtgox - Wow!!! Lots of Pumps and lots of Dumps! At least lots of volume!
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I finally got my USD withdrawal and been arbitraging with everyone else.
Did you actually get USD for Gox today? The reasons I'm doubtful of the "working Gox arbitrage" theory is (a) the drop was precipitated by a large market sell order on BitSamp (JorgeStoffi confirmed this several pages back), and (b) would we not expect to see a rise in the price on the non-Gox exchanges caused by people re-buying the coins they're selling on Gox? I'm just fucking with you guys! |
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How come there's only $50 difference between gox and stamp? Been around $200 diff for so long now
Not only are Gox bux worth less than fed bux, but now gox btc is worth less than blockchain btc. So diff closes. Yes, but what changed today? From what I've gathered it's been useless for quite some time now. I finally got my USD withdrawal and been arbitraging with everyone else. |
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Mtgox $825 wall of 200 was just eaten alive by a 500 dump... Whoever can withdraw BTC on Mtgox is going to make some major $$$$$ |
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It doesn't even make sense for Mtgox to scam. All they had to do is arbitrage their own buy orders and they'll have plenty of fiat. But that's not happening here or Bitstamp and BTC-E would go up in price.
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I don't see the point of the Mtgox dump.
The chances of withdrawing your BTC successfully are still higher than fiat withdrawals.
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lol lack thereof btc withdrawal = goxbux revival 800 coins sold just now or so.
Mtgox is back to $100 above Bitstamp and BTC-E with that last dump. |
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Wow. Mtgox within $108 of Bitstamp.
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Got my USD refunded back to my account. Bought some BTC and now going to try and withdraw again for the last time. Edit: Darn looks like my luck ran out. This one wasn't instant and it was my smallest withdrawal so far. Oh well. 9/10 instants  |
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BTC-E higer than Bitstamp first time since....  Edit: Darn well I think there was a brief moment.... |
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I was trying to get my money from 2 withdrawals back to my Mtgox account.
I said:
I've read there's an indefinite delay on US withdrawals. Please refund my withdrawal requests back to my account.
Username: ****
Transaction reference: ****
Transaction reference: ****
Thanks.
They said:
Dear *****,
Thank you for your mail.
I could see that there are 2 withdrawals , which has been in confirmed status and is under process. We apologize for the delay this might cause to you. Due to a change in our banking system we are currently experiencing a back-log of withdrawals that we need to process. Our team is working hard to increase transaction speeds, but there is approximately a two-week back-log we need to overcome.
It will take a few weeks to get back to normal, and we thank you for your patience during this time.
If you have any further queries, please feel free to contact us and we will be glad to assist you with the information.
Best regards,
MtGox Team
So I said:
I've known people who've had "confirmed" withdrawal requests of longer than two weeks who still haven't received their money. If you can't guarantee my withdrawal will be processed in 2 weeks, please refund my **** USD back to my Mtgox account so I can buy some BTC with it.
Thank you.
Is anyone else having problems getting withdrawals to be added back to their Mtgox account? Did I say it incorrectly?
How will you buying bitcoins with your money help should they refund you? If you pay their markup and send it to another wallet your transaction will not be processed like mine wasn't and support will not respond. Support told me transactions like mine will be loaded automatically i have seen maybe 2 people in threads get their coins and they got thiers sooner then I did although I have been in que longer so how does that work? My last 8 BTC withdrawals were processed instantly. It's just the luck of the draw. Sorry, man. Its all good when was the last time you withdrew to a wallet? YOu think i have a chance still of them making this right or im fed? Just got my last withdrawal instantly again. That makes me 9/9  I used the same 2 BTC addresses every time. Probably had nothing to do with it. I suppose that's fair since I bought BTC @ $960 on Mtgox at the 2nd worst moment when the gap was $200. Now just working on getting my USD withdrawals refunded so I can get out my last BTC. |
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