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381
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Economy / Speculation / Re: Are we seeing true capitulation on gox?
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on: February 21, 2014, 03:27:39 AM
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The trading on mtgox has nothing to do with the trends of bitcoin or "capitulation". It is purely driven by mtgox's death and lawyers that have advised their clients to liquidate all btc into usd at any price.
Who is buying? Are the buyers not being advised by their lawyers? |
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382
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Economy / Speculation / Are we seeing true capitulation on gox?
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on: February 21, 2014, 03:17:23 AM
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Markets have a way of fooling even the most saviest of investors and traders. Prices on gox have declined 93% to double digits and btc-e even traded down over 90% to 102.
IMO the bear market is can be considered complete in terms of price but maybe not in terms of time. However, bear markets tend to move faster than bull markets so this bear only lasting 3 months would not be out of the question.
I could be wrong but I have a feeling gox will reinstate (limited)withdrawals sometime over the next few weeks and those goxBTC will magically turn into regular BTC.
Thoughts?
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386
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Economy / Service Discussion / Re: What MtGox didn't say: Their bad code hygiene was the direct cause of problems
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on: February 12, 2014, 01:40:31 AM
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@PirateHatForTea
I understand the problem and as I said, the problem is due in PART to malleability as both exchanges directly cited. Only bitstamp cited DDOS as part of the problem. I am definitely not trying to defend gox as I think they have shady practices, but the problem was severe enough for both exchanges to completely halt withdrawals for a lengthy period of time, so it wasn't just a check on the part of bitstamp.
Also, I agree with Mike Caldwell, the manner in which the exchanges handle the problem and treat their customers at this time will be very telling as to the character of the exchange.
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387
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Bitcoin / Bitcoin Discussion / Re: Let's stop all transactions, right now!
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on: February 11, 2014, 11:10:34 PM
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Service providers which keep records on outbound txs would still need to ensure they don't rely on tx ids.
At some point this will have to be fixed. The utility of bitcoin is reduced if the broadcast txid cannot be relied on for accounting purposes. |
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389
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Economy / Service Discussion / Re: What MtGox didn't say: Their bad code hygiene was the direct cause of problems
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on: February 11, 2014, 06:46:04 PM
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Looks like mt gox may have been right. Other exchanges reporting similar problems: Dear Bitstamp users
Bitstamp’s exchange software is extremely cautious concerning Bitcoin transactions. Currently it has suspended processing Bitcoin withdrawals due to inconsistent results reported by our bitcoind wallet, caused by a denial-of-service attack using transaction malleability to temporarily disrupt balance checking. As such, Bitcoin withdrawal and deposit processing will be suspended temporarily until a software fix is issued.
No funds have been lost and no funds are at risk.
This is a denial-of-service attack made possible by some misunderstandings in Bitcoin wallet implementations. These misunderstandings have simple solutions that are being implemented as we speak, and we're confident everything will be back to normal shortly.
Withdrawals which failed on the 10th and 11th of February will be canceled and the amounts added back to the customer account balances.
We will communicate any further developments regarding this issue.
Thank you for your understanding!
Best regards
Bitstamp team https://www.bitstamp.net/article/bitcoin-withdraws-suspended/ |
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392
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Bitcoin / Bitcoin Discussion / Re: Enjoy?
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on: February 11, 2014, 03:01:22 PM
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Its kind of annoying. I cant sweep paper wallets because of unconfirmed transactions. I have to add Watch Only and spend from there but whatever I guess.
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394
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Economy / Currency exchange / Re: MTGOX <-> BTC BID/ASK
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on: February 08, 2014, 11:35:20 PM
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Ingoring all the FUD, trolling, and speculation - lets look at the facts:
Negative:
-mt gox suspended all USD withdrawals last June which has since not been re-enabled
-other currencies such as Euro and JPY experience extreme delays
-bitcoin withdrawals have experienced intermittent problems for the past few months
-bitcoin withdrawals are currently disabled
-customer service is very slow to respond
Positive
-In 2011, 250,000 bitcoins were stolen from mt gox but customers were made whole by mt gox
-In 2013, $5 million was seized from mt gox by the US government but no customer funds were lost
-In nearly 4 years in existence, there are no confirmed reports of customers losing funds at the fault of mt gox.
-Customers have always had an avenue to withdraw funds in one form or another until now. Only $ withdrawal has been completely disabled.
Conclusion: Most likely funds will be returned to customers but there may be long delays. Mt gox admin is incompetent for allowing bitcoin withdrawal problems to fester for so long when it was the only legitimate source of withdrawing funds. This is bitcoin - programmable money - there are probably multiple solutions to the bitcoin withdrawal problem and no other exchanges are experiencing the same problems. The chances that you recieve 0 of your funds are pretty slim IMO. Even if legal action has to be taken, you should eventually revieve at least a portion.
I dont need the funds any time soon. I am taking a risk here because I am sure the exchange rate will lower if the problem persists.
My offer - I will sell goxBTC for real BTC at 99%.
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395
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Economy / Exchanges / Re: MtGox withdrawal delays [Gathering]
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on: February 07, 2014, 04:13:08 AM
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Can someone on this thread explain to me why anyone, ANYONE, would have traded at Gox in the last 6 months when there are others exchanges that are cheaper, faster, more secure and actually do WITHDRAWALS?
I can't for the life of me understand why any of you have coins or fiat there. Unless you are brand new to the bitcoin world and somehow figured out how to get verified and deposit there while somehow missing any of the literally thousands of posts on why that would be a bad idea, then I just don't understand what you people are doing.
I have read bad things about every bitcoin exchange in existence that I know of. Pick your poison I guess. |
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400
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Economy / Service Discussion / Re: Broken BTC Withdrawals on Gox -- 2230 EST, 28 JAN: 1654 broken TX!!
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on: February 05, 2014, 03:08:36 PM
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Ok, I tried to withdraw again today after my btc got stuck and were returned to my gox account. Now it's telling me "invalid bitcoin address". I tried a few different addresses including the one I used for the first withdrawal. Anyone else getting this message?
I am also getting that when trying to withdraw. Iam too... what is going on! same here |
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