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delphic
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February 20, 2014, 07:30:50 AM |
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(Only) 4:30pm in Japan. Is it just a panic on the lack of an annnouncement so far?
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Bitcoin addresses contain a checksum, so it is very unlikely that mistyping an address will cause you to lose money.
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Miz4r
Legendary
 Offline
Activity: 1246
Merit: 1000
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February 20, 2014, 07:31:05 AM |
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Willy the panic selling bot is quite busy again it seems, lower your bids on Gox people don't let him sell triple digits goxcoins to you.  |
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HairyMaclairy
Legendary
Offline
Activity: 1414
Merit: 2174
Degenerate bull hatter & Bitcoin monotheist
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February 20, 2014, 07:31:20 AM |
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171. Double digits next hour? Single digits possible?
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sir faps
Member
Offline
Activity: 91
Merit: 10
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February 20, 2014, 07:31:26 AM |
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This is extremely fun to watch from the sidelines
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windjc
Legendary
Offline
Activity: 2156
Merit: 1070
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February 20, 2014, 07:31:32 AM |
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Panic in full force now.  |
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Mythul
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February 20, 2014, 07:31:44 AM |
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Maybe some insiders already know the announcement and are dumping...
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keewee
Legendary
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Activity: 1025
Merit: 1000
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February 20, 2014, 07:31:57 AM |
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166
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zero3112
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February 20, 2014, 07:32:18 AM |
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looks like mtgox is going to 0 in price
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Mythul
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February 20, 2014, 07:32:30 AM |
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Will it break $100 ? Place your bets please.
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windjc
Legendary
Offline
Activity: 2156
Merit: 1070
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February 20, 2014, 07:32:56 AM |
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Maybe some insiders already know the announcement and are dumping...
Why? Because they can withdraw their fiat? LOL! This is simply irrational panic. |
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podyx
Legendary
Offline
Activity: 2338
Merit: 1035
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February 20, 2014, 07:33:08 AM |
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Are we writing textbook today, gentlemen?
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ThatBitcoinGuy
Newbie
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Activity: 36
Merit: 0
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February 20, 2014, 07:33:20 AM |
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What is going through Mark Karpeles' mind right now...?
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windjc
Legendary
Offline
Activity: 2156
Merit: 1070
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February 20, 2014, 07:33:29 AM |
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Will it break $100 ? Place your bets please.
50/50 |
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zero3112
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February 20, 2014, 07:33:47 AM |
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wait so fiat withdraws have been re-enabled since then but bitcoin ones are not?
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windjc
Legendary
Offline
Activity: 2156
Merit: 1070
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February 20, 2014, 07:33:55 AM |
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What is going through Mark Karpeles' mind right now...?
Caffeine and sugar withdrawls most likely. |
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MikeH
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February 20, 2014, 07:34:00 AM |
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What is going through Mark Karpeles' mind right now...?
mmm, bubble tea |
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fotosonics
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February 20, 2014, 07:34:06 AM |
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.30! Gox is done!
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windjc
Legendary
Offline
Activity: 2156
Merit: 1070
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February 20, 2014, 07:34:13 AM |
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wait so fiat withdraws have been re-enabled since then but bitcoin ones are not?
No. |
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chrisLG
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February 20, 2014, 07:34:46 AM |
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I'm pretty sure the situation is as follows: Some insiders have gained more evidence that Mt.Gox is in fact not able to pay back all of the customers deposits (propably due to their own ignorance in simply reissuing transactions that customers claimed they haven't gotten after changeing the transaction id). The higher the probability of a Mt.Gox default, the bigger the spread between Gox and other exchanges.
Since the information ist asymetric some traders at other exchanges only see the dip in Mt.Gox prices - they do not have the information whether this is due to a Mt.Gox problem or a general Bitcoin problem. So they hedge their risk by desinvesting parts of their bitcoin reserves.
This results in the Mt.Gox drop being from 260 to 160 (38%) and the bitstamp drop just from 625 to 595 (5%).
Absolutely what you would expect from a well functioning market as long as there is no confirmation (but high propability) that Mt. Gox is defaulting.
EDIT: Minor spelling correction(s).
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Kj1
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February 20, 2014, 07:34:53 AM |
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if gox goes bankrupt then you'll better have fiat instead of btc in order to file a lawsuit
sell "b*tc"hes
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