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Author Topic: The Antigoxxers  (Read 678 times)
Kazu (OP)
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April 11, 2013, 02:32:26 PM
 #1

Withdrew all my Bitcoins from Gox.
Never using Gox again. Anybody that doesn't want to get screwed would join me.

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HappyBitCoinUser
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April 11, 2013, 02:42:19 PM
 #2

As soon as the value goes back up to what I bought them for, I'll join you.

So where do we go now?
donjoe
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April 11, 2013, 02:44:43 PM
 #3

I can only hope that more people have come to understand they were kidding themselves when they decided to join this market via Gox, thinking that since it was the biggest exchange it had to be the most stable and trustworthy. It's clearly not, in fact so far it's had the single biggest destructive role on the evolution of BTC's price and public image, as is usually the case with any overly greedy single participant in any group activity who concentrates too much power in their own hands.

Yet the sheeple never learn. Again and again concentrated power and various forms of authoritarianism destroy things and work against majority interests, yet the majority continues to blindly credit and follow a few big players. It's like we enjoy being slaves, always sucking up to a boss in one way or another.

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Kazu (OP)
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April 11, 2013, 02:45:40 PM
 #4

Mt. Gox is the EU of Bitcoin.

Freezing the market... ring any bells?

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BitcoinAshley
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April 11, 2013, 02:59:13 PM
 #5

I can only hope that more people have come to understand they were kidding themselves when they decided to join this market via Gox, thinking that since it was the biggest exchange it had to be the most stable and trustworthy. It's clearly not, in fact so far it's had the single biggest destructive role on the evolution of BTC's price and public image, as is usually the case with any overly greedy single participant in any group activity who concentrates too much power in their own hands.

Yet the sheeple never learn. Again and again concentrated power and various forms of authoritarianism destroy things and work against majority interests, yet the majority continues to blindly credit and follow a few big players. It's like we enjoy being slaves, always sucking up to a boss in one way or another.


This!
There's something that people need to recognize... it's that Gox makes more money during panic sells! They make a % of transactions, so lots of big transactions are very rewarding. That's right, it is in their best interest to keep the trading engine and servers below capacity so people will freak out after a big player sells 10,000 coins, causing massive volume, lag, and even more panic sells. Gox makes a certain % of each transaction... imagine how much money they made during THIS panic sell vs all the others! A lot more! They've finally got this thing down to a science.

If y'all care about bitcoin, leave MtGox. If liquidity is your issue, then it's a chicken/egg problem. Other exchanges will only have sufficient liquidity after people start leaving Gox due to poor performance. It might be a good strategy (although a little annoying) to use multiple exchanges until one gets the amount of liquidity you need.
doobadoo
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April 11, 2013, 03:04:22 PM
 #6



This!
There's something that people need to recognize... it's that Gox makes more money during panic sells!

No they don't less trading = less money.   market freezing up bad for bitcoin, bad for bitcoin bad fo gox. 

believe they are trying everything they can think of to get things scaled up.   They are just incompetent. 

Who opens so many accounts that they crash their own service?

Greedy morons who don't know how to plan their business.

"It is, quite honestly, the biggest challenge to central banking since Andrew Jackson." -evoorhees
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