Why is anyone selling on MtGox?

[spiderbrain]

Why is anyone selling on MtGox if they can't get the money out afterwards? This forum seems to be full of posts referring to this as a fact for most transactions, and a consensus that this is driving the latest price rise, but there's nothing solid to go on. Is it actually just bots left there now? I'm thinking it doesn't matter how high the price on Gox gets as people try to get their fiat out by buying coins, because selling at that price they will just be left with imaginary money.

[marcovaldo]

The withdrawals will eventually be processed normally some day.
I heard that some payment were made in August.

[spiderbrain]

Thank you for providing a perfect example of the vagueness I was referring to

[marcovaldo]

You can read more here https://bitcointalk.org/index.php?board=85.0
But it's better if you do your own experiment and try it yourself

[Nigeria Prince]

Why is anyone selling on MtGox if they can't get the money out afterwards?

No problem getting Euro or Yen out. Only USA$ is big problem.

[Carabudala]

Thre price has delighted them all!

[b!z]

maybe because they believe they can transfer out, or they just want to trade for profit

[NFuego20]

Also, why is anyone buying on MTGOX?  Being a newbie thread there has to be a basic explanation for the inflation in price compared to other exchanges that I haven't stumbled across yet.  How does inability to cash out actually make the value of a bitcoin on that exchange higher?

[marcovaldo]

Also, why is anyone buying on MTGOX?  Being a newbie thread there has to be a basic explanation for the inflation in price compared to other exchanges that I haven't stumbled across yet.  How does inability to cash out actually make the value of a bitcoin on that exchange higher?

If you can't withdraw your USD from mt.gox, you have to buy btc, withdraw btc, and exchange those btc for USD somewhere else.
You might lose 5 - 10 % of it, but at least you got your USD

[Gorgoy]

Why is anyone selling on MtGox if they can't get the money out afterwards?

No problem getting Euro or Yen out. Only USA$ is big problem.

Then it is really just Europeans and Japanese that are actively using Mt Gox? I can't imagine many people using US Dollars using it, since you can't get the Fiat out very easily.

Thanks

[Nigeria Prince]

Then it is really just Europeans and Japanese that are actively using Mt Gox? I can't imagine many people using US Dollars using it, since you can't get the Fiat out very easily.

Thanks

Just get a bank account in Euro to cash out of Mt.Gox.
You get one at every bank in the world. You don't need to be European or Japanese.

[indigenous]

I don't think withdrawal is an issue on mtgox. They are getting problem only for US$. You can withdraw other currencies.

[Pokerfan]

Of course I might be wrong, but I hope that withdrawals from Gox will resume normally in the future.