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JorgeStolfi
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February 16, 2014, 04:50:38 AM |
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According to my calculations [...] MtGox dollars are actually worth more than regular dollars
What the charts show is the price of "MtGOX bitcoins" in terms of "MtGOX dollars". They are not real bitcoins nor real dollars, but merely numbers in the "bitcoin" and "dollar" columns of MtGOX's internal "client accounts" ledger. I do not see how one could relate either of those two virtual currencies to the real ones in other exchanges. |
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TERA
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February 16, 2014, 04:56:04 AM |
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It's nice to see the $200 movements on gox causing $10 movements on Bitstamp. Maybe now we are finally detached.
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fonzie
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February 16, 2014, 04:56:09 AM |
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Right now on Gox:  |
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fonzie
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February 16, 2014, 04:57:59 AM |
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It's nice to see the $200 movements on gox causing $10 movements on Bitstamp. Maybe now we are finally detached.
Bitstamp will also plunge when the Gox bad news offically hit the fan(insolvency, robbed, whatever). Maybe not to 0 like Gox but expect a nice 100-250$ flashcrash. |
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HairyMaclairy
Legendary
 Offline
Activity: 1414
Merit: 2174
Degenerate bull hatter & Bitcoin monotheist
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February 16, 2014, 05:01:17 AM |
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I wonder how all those people who bought gox btc at 70% of face value using real btc are feeling.
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KFR
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February 16, 2014, 05:01:41 AM |
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If it results in the loss of hundreds of millions in market value I'm going with "bug".
It is fair to say that several exchanges - most notably Gox of course - were tracking transactions in a way that was inherently unsafe. That, in combination with poor communication about a complex situation to the market, is what resulted in the losses.  |
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derpinheimer
Legendary
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Activity: 896
Merit: 1000
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February 16, 2014, 05:03:11 AM |
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lol @ gox dump right after [fail/success] rally
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ChartBuddy
Legendary
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Activity: 2226
Merit: 1779
1CBuddyxy4FerT3hzMmi1Jz48ESzRw1ZzZ
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February 16, 2014, 05:03:23 AM |
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aminorex
Legendary
Offline
Activity: 1596
Merit: 1029
Sine secretum non libertas
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February 16, 2014, 05:04:12 AM |
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According to my calculations [...] MtGox dollars are actually worth more than regular dollars
What the charts show is the price of "MtGOX bitcoins" in terms of "MtGOX dollars". They are not real bitcoins nor real dollars, but merely numbers in the "bitcoin" and "dollar" columns of MtGOX's internal "client accounts" ledger. I do not see how one could relate either of those two virtual currencies to the real ones in other exchanges. On the assumption that gox withdrawals resume shortly (say 2 days), if 1 bitcoin costs 330 usd on gox and 660 usd on stamp, then (ignoring RFR discounting for the trivial period, slippages, fees &c), 330 usd on gox is worth exactly as much as 660 usd on stamp. I.e 1 usd on gox is worth 2 usd on stamp. The market on the other hand, as demonstrated at bitcoinbuilder.com, is discounting very differently, factoring in risk assessments which reduce the value of a bitcoin on gox vs. a bitcoin "in hand". I.e. the market assigns a less than unity probability to the assumption above. |
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fonzie
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February 16, 2014, 05:04:43 AM |
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I wonder how all those people who bought gox btc at 70% of face value using real btc are feeling.
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aminorex
Legendary
Offline
Activity: 1596
Merit: 1029
Sine secretum non libertas
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February 16, 2014, 05:05:26 AM |
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I wonder how all those people who bought gox btc at 70% of face value using real btc are feeling.
They should be feeling roughly 15% richer now. They can flip them for 85% of face value at bitcoinbuilder.com. |
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fonzie
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February 16, 2014, 05:07:29 AM |
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At least their servers are working great!  |
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TERA
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February 16, 2014, 05:09:35 AM |
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At least their servers are working great! Is this midas? |
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HairyMaclairy
Legendary
Offline
Activity: 1414
Merit: 2174
Degenerate bull hatter & Bitcoin monotheist
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February 16, 2014, 05:15:30 AM |
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If it results in the loss of hundreds of millions in market value I'm going with "bug".
It is fair to say that several exchanges - most notably Gox of course - were tracking transactions in a way that was inherently unsafe. That, in combination with poor communication about a complex situation to the market, is what resulted in the losses. I am aware of the distinction. However from a consumer point of view it matters not whether the fault lies in the protocol or the wallet implementation. The consumer lost their investment due to exchange insolvency due to something happening which should not have happened. That's a bug. |
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Vigil
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February 16, 2014, 05:17:16 AM |
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So, is the consensus here that Gox will not be able to pay out?
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fonzie
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February 16, 2014, 05:21:07 AM |
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So, is the consensus here that Gox will not be able to pay out?
Right now the market thinks that only USD might be payed out. 2 weeks . backlog. brb |
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creekbore
Full Member
Offline
Activity: 210
Merit: 100
Lazy, cynical and insolent since 1968
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February 16, 2014, 05:21:52 AM |
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So, is the consensus here that Gox will not be able to pay out?
It seems to be although at this rate they should be able cover my two coins |
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BTC5OOO
Member
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Activity: 98
Merit: 10
Trust:+4:20--Warning* ASICs with extreme hashrate!
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February 16, 2014, 05:23:03 AM |
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ta me it looks like /\/\t.Gox might be SHORT btc hmmm,,, it seems Mark is trolling for cheapies to cover? wow! ~=0
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Vigil
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February 16, 2014, 05:24:59 AM |
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Why doesn't Mark just use some of his own bitcoin stash? Wasn't he an early adopter? He probably has at least 10,000 BTC, if not more.
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fonzie
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February 16, 2014, 05:26:43 AM |
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Poll
