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Yololintian
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February 15, 2014, 02:14:45 PM |
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At first i was thinking that Billy/Willy(whatever) is sellin into his own bids to create a negative bearish sentiment, but actually the bid depth on Gox is really goin down. It was 6000BTC to 300$ a few hours ago now there are only 1800BTC left. Either Gox goes down and price plunges to 0$(  . Or more likely it will shoot up to 5-600 within minutes. There is also a huge possibility that they announce that they have been hacked, coins are stolen, and they have to shut down trading exchange for a while(2 weeks  ). Anyways it´s gonna be fun. Update: Actually, there is a black hole between 310$ and 255$ lololololololol  Check another source for the actual bid depth, bitcoinwisdom has been wrong for many hours. Bitcoinity says 5.8k to 300. |
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pickaname
Newbie
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Activity: 25
Merit: 0
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February 15, 2014, 02:15:11 PM |
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windjc
Legendary
Offline
Activity: 2156
Merit: 1070
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February 15, 2014, 02:16:48 PM |
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The stupidity of the Gox traders is overwhelming. How these morons can be selling in the 300s right now is a testiment to how stupid a wide swath of bitcoiners are. The conspiracy theorist and worst casers and the lemmings who listen to them are all a basket of crazy.
I have not for one instant believed that Gox would do anything other than fix the issue and go back to business as usual.
These traders really take the cake. First, they choose to use an exchange that has the highest fees, worst customer service and fewest withdrawal possibilities. Then they pay a 20% premium on their bitcoin for literally weeks. And now they sell their bitcoin for 50% on the dollar despite very limited fiat withdrawal options.
These people deserve every damn thing that is coming to them. The stupidity is off the charts.
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TERA
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February 15, 2014, 02:20:43 PM |
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What? This completely conflicts with the pdf that was released saying they would take some time to test and analyze the deposits and that an update would be provided about withdrawals on Monday. |
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zakalwe
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February 15, 2014, 02:21:36 PM |
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The stupidity of the Gox traders is overwhelming. How these morons can be selling in the 300s right now is a testiment to how stupid a wide swath of bitcoiners are. The conspiracy theorist and worst casers and the lemmings who listen to them are all a basket of crazy.
I have not for one instant believed that Gox would do anything other than fix the issue and go back to business as usual.
These traders really take the cake. First, they choose to use an exchange that has the highest fees, worst customer service and fewest withdrawal possibilities. Then they pay a 20% premium on their bitcoin for literally weeks. And now they sell their bitcoin for 50% on the dollar despite very limited fiat withdrawal options.
These people deserve every damn thing that is coming to them. The stupidity is off the charts.
+1 |
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T.Stuart
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February 15, 2014, 02:22:31 PM |
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What? This completely conflicts with the pdf that was released saying they would take some time to test and analyze the deposits and that an update would be provided about withdrawals on Monday. More FUD? |
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ChrisML
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February 15, 2014, 02:22:45 PM |
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From mtgox IRC. Fucking troll./ |
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TERA
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February 15, 2014, 02:24:00 PM |
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What? This completely conflicts with the pdf that was released saying they would take some time to test and analyze the deposits and that an update would be provided about withdrawals on Monday. More FUD? Mtgox wrote a pdf as FUD? |
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AmazonStuff
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February 15, 2014, 02:24:26 PM |
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OK, we shall see, we have less then hour to check if this is true or not... |
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tonyq
Legendary
Offline
Activity: 879
Merit: 1001
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February 15, 2014, 02:24:36 PM |
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I would say the opposite: first they kept the price up 10% above market to lure people into depositing their real bitcoins in exchange for gox dollars (virtual dollars in MtGOX's internal client accounts); while stalling on dollar withdrawals (the conversion of gox dollars into real dollars). The high price also discouraged people from changing their gox dollars into gox bitcoins (virtual bitcoins in MtGOX's internal client accounds) and withdrawing them (that is, converting them to real bitcoins).
When GOX clients began to realize that dollar withdrawals weren't working, they tried to use the bitcoin route in spite of the 10% loss. Then at first MtGOX raised the premium to 20%, and also began to stall on bitcoin withdrawals -- thanks to a providential "malelability bug" that stalled 40,000 bitcoins over several month, but which they somehow could not figure out in all that time.
But those measures did not stop the outflow, so they just suspended all withdrawals and promised that by Monday they may provide an estimate of when they may promise something.
SPOT ON.
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T.Stuart
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February 15, 2014, 02:26:41 PM |
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What? This completely conflicts with the pdf that was released saying they would take some time to test and analyze the deposits and that an update would be provided about withdrawals on Monday. More FUD? Mtgox wrote a pdf as FUD? I mean this latest news! |
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TERA
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February 15, 2014, 02:27:20 PM |
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What? This completely conflicts with the pdf that was released saying they would take some time to test and analyze the deposits and that an update would be provided about withdrawals on Monday. More FUD? Mtgox wrote a pdf as FUD? I mean this latest news! Gox enabling withdrawals at 3:15 is FUD? |
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F-bernanke
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February 15, 2014, 02:28:54 PM |
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The stupidity of the Gox traders is overwhelming. How these morons can be selling in the 300s right now is a testiment to how stupid a wide swath of bitcoiners are. The conspiracy theorist and worst casers and the lemmings who listen to them are all a basket of crazy.
I have not for one instant believed that Gox would do anything other than fix the issue and go back to business as usual.
These traders really take the cake. First, they choose to use an exchange that has the highest fees, worst customer service and fewest withdrawal possibilities. Then they pay a 20% premium on their bitcoin for literally weeks. And now they sell their bitcoin for 50% on the dollar despite very limited fiat withdrawal options.
These people deserve every damn thing that is coming to them. The stupidity is off the charts.
Good post, love it |
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T.Stuart
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February 15, 2014, 02:29:30 PM |
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What? This completely conflicts with the pdf that was released saying they would take some time to test and analyze the deposits and that an update would be provided about withdrawals on Monday. More FUD? Mtgox wrote a pdf as FUD? I mean this latest news! Gox enabling withdrawals at 3:15 is FUD? Well you say the two statements are completely contradictory. Perhaps one of them is FUD? Get it? |
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windjc
Legendary
Offline
Activity: 2156
Merit: 1070
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February 15, 2014, 02:29:40 PM |
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I would say the opposite: first they kept the price up 10% above market to lure people into depositing their real bitcoins in exchange for gox dollars (virtual dollars in MtGOX's internal client accounts); while stalling on dollar withdrawals (the conversion of gox dollars into real dollars). The high price also discouraged people from changing their gox dollars into gox bitcoins (virtual bitcoins in MtGOX's internal client accounds) and withdrawing them (that is, converting them to real bitcoins).
When GOX clients began to realize that dollar withdrawals weren't working, they tried to use the bitcoin route in spite of the 10% loss. Then at first MtGOX raised the premium to 20%, and also began to stall on bitcoin withdrawals -- thanks to a providential "malelability bug" that stalled 40,000 bitcoins over several month, but which they somehow could not figure out in all that time.
But those measures did not stop the outflow, so they just suspended all withdrawals and promised that by Monday they may provide an estimate of when they may promise something.
SPOT ON.
This is the kind of retarded crazy that has people selling on Gox in the 300s. Unbelievable. When withdrawals open back up and those 300 dollar bitcoins are worth 2.5 x that amount all of this is going to be confirmed idioticy. |
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UnDerDoG81
Legendary
Offline
Activity: 2179
Merit: 1201
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February 15, 2014, 02:35:46 PM |
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I would say the opposite: first they kept the price up 10% above market to lure people into depositing their real bitcoins in exchange for gox dollars (virtual dollars in MtGOX's internal client accounts); while stalling on dollar withdrawals (the conversion of gox dollars into real dollars). The high price also discouraged people from changing their gox dollars into gox bitcoins (virtual bitcoins in MtGOX's internal client accounds) and withdrawing them (that is, converting them to real bitcoins).
When GOX clients began to realize that dollar withdrawals weren't working, they tried to use the bitcoin route in spite of the 10% loss. Then at first MtGOX raised the premium to 20%, and also began to stall on bitcoin withdrawals -- thanks to a providential "malelability bug" that stalled 40,000 bitcoins over several month, but which they somehow could not figure out in all that time.
But those measures did not stop the outflow, so they just suspended all withdrawals and promised that by Monday they may provide an estimate of when they may promise something.
SPOT ON.
This is the kind of retarded crazy that has people selling on Gox in the 300s. Unbelievable. When withdrawals open back up and those 300 dollar bitcoins are worth 2.5 x that amount all of this is going to be confirmed idioticy. As I wrote 2 times, it should be renamed to Idiotcoin ^^ |
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JorgeStolfi
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February 15, 2014, 02:38:05 PM |
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The stupidity of the Gox traders is overwhelming. How these morons [...] The stupidity is off the charts.
Windjc, why are so obsessed with them? You claim that you have no assets at MtGOX. That internal trade of virtual "gox coins" for virtual "gox dollars" is isolated from the rest of the market. So why should you care? Those guys have been trying to get their money - over 30 million dollars - out of MtGOX for months. And now they have also to stand being insulted? They only made one stupid mistake, which was to leave their coins and dollars in the hands of an unofficial, unadited, unlicensed, and unregulated bank run by an amateur banker. Just be thankful that yours are still safely kept by an unofficial, unadited, unlicensed, and unregulated bank run by an anonymous amateur banker. |
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hd060053
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February 15, 2014, 02:39:19 PM |
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I would say the opposite: first they kept the price up 10% above market to lure people into depositing their real bitcoins in exchange for gox dollars (virtual dollars in MtGOX's internal client accounts); while stalling on dollar withdrawals (the conversion of gox dollars into real dollars). The high price also discouraged people from changing their gox dollars into gox bitcoins (virtual bitcoins in MtGOX's internal client accounds) and withdrawing them (that is, converting them to real bitcoins).
When GOX clients began to realize that dollar withdrawals weren't working, they tried to use the bitcoin route in spite of the 10% loss. Then at first MtGOX raised the premium to 20%, and also began to stall on bitcoin withdrawals -- thanks to a providential "malelability bug" that stalled 40,000 bitcoins over several month, but which they somehow could not figure out in all that time.
But those measures did not stop the outflow, so they just suspended all withdrawals and promised that by Monday they may provide an estimate of when they may promise something.
SPOT ON.
This is the kind of retarded crazy that has people selling on Gox in the 300s. Unbelievable. When withdrawals open back up and those 300 dollar bitcoins are worth 2.5 x that amount all of this is going to be confirmed idioticy. people are not selling on gox... isnt it obvious ? people are MASSIVE buying and one (1) person (the bot) is selling hard |
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ChrisML
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February 15, 2014, 02:41:57 PM |
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And we are back where we started.  |
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