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fonzie
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February 17, 2014, 12:58:49 PM |
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No. 522 time-out
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fluidjax
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February 17, 2014, 12:58:58 PM |
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Actually - allowing limited withdrawals makes sense - they must fear a 'run' on BTC either crashing the exchange (with it's new software fix being untested, too) - or meaning they have so little liquidity that their business is finished.
Allowing 'some' withdrawals will mean people wish to hold BTC instead of Fiat, which will inflate the price on Gox, and at this point, some people might decide to stay.
If Gox is clever, it will still have a business left. Don't get me wrong - I will be the first in the queue to get out, but it is a logical solution.
I did think this was their only logical way out (assuming they really do intend to stay in the game).
Also, it makes sense to keep the hot wallet small to reduce the risk. With the huge pressure for a fix from the community, there must be a balance struck between thorough testing and going live untested. Limited withdrawals, and thus hot wallet size, allows that risk to be controlled if a flaw is discovered by a black hat. |
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billyjoeallen
Legendary
 Offline
Activity: 1106
Merit: 1007
Hide your women
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February 17, 2014, 12:59:37 PM |
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If there is no new good news this weekend, we will possibly drift to a low that is loosely around 600 before heading back up.
s I go to sleep, wake up, coffee, breakfast etc. Come here and people are saying the same things over and over and over. so maybe I should just repeat myself ad nauseum also. Ok. I called the weekend chart like I had a time machine. So now your self-congratulatory messages are 'ironic'?! Cool...  When you knock one out of the park, it's customary to wave at the fans as you round the bases.  |
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TERA
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February 17, 2014, 01:01:14 PM |
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Isn't it weird there are suddenly all these bulls, with attitudes.
Why all this nonsense about "Bulls and Bears", the way I see it there are sensible people trying to make some $ by trading BTC and there are full on retards. It's a slang term - The people who constantly insist that we are on an immediate direct trip to the moon or that we've always "hit bottom" are "bulls". |
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Yololintian
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February 17, 2014, 01:02:49 PM |
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We'll see 700 in a few hours, then its time to short
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ChartBuddy
Legendary
 Online
Activity: 2366
Merit: 1822
1CBuddyxy4FerT3hzMmi1Jz48ESzRw1ZzZ
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February 17, 2014, 01:03:27 PM |
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porcupine87
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February 17, 2014, 01:03:44 PM |
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Wow, gox over 400 again? Maybe some people know a little more than others? (price indicates that Gox will be ok soon)
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ChrisML
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February 17, 2014, 01:05:44 PM |
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Wow, gox over 400 again? Maybe some people know a little more than others? (price indicates that Gox will be ok soon)
Wow, really? I laughed pretty hard at everyone who believed gox is dead on monday. What a joke. |
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jatajuta
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February 17, 2014, 01:07:16 PM |
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Wow, gox over 400 again? Maybe some people know a little more than others? (price indicates that Gox will be ok soon)
Wow, really? I laughed pretty hard at everyone who believed gox is dead on monday. What a joke. +1 I laughed and buy furiously on 250-300. |
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TERA
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February 17, 2014, 01:09:00 PM |
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Wow, gox over 400 again? Maybe some people know a little more than others? (price indicates that Gox will be ok soon)
Wow, really? I laughed pretty hard at everyone who believed gox is dead on monday. What a joke. It may not be dead but there's a good chance there will be a mass exodus of traders until the orderbooks on gox look like an altcoin on cryptsy. |
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magicmexican
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February 17, 2014, 01:11:54 PM |
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Wow, gox over 400 again? Maybe some people know a little more than others? (price indicates that Gox will be ok soon)
Wow, really? I laughed pretty hard at everyone who believed gox is dead on monday. What a joke. It may not be dead but there's a good chance there will be a mass exodus of traders until the orderbooks on gox look like an altcoin on cryptsy. Not going to lie, you are coming off as very annoying bitter person who always whines no matter what the price does. Going up - "bulltrap, delusion, madness" , Crashing hard - "i dont know what to do, didnt have balls to buy, was too scared, thinking about leaving crypto" etc |
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ChrisML
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February 17, 2014, 01:12:05 PM |
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@TERA Have you read the statement?  At the beginning we will do so at a moderated pace and with new daily/
monthly limits in place to prevent any problems with the new system and to take
into account current market conditions.@magicmexican. Amen. |
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dreamspark
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February 17, 2014, 01:13:52 PM |
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@TERA Have you read the statement? At the beginning we will do so at a moderated pace and with new daily/ monthly limits in place to prevent any problems with the new system and to take into account current market conditions.@magicmexican. Amen. So basically try and dicatate prices |
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fonzie
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February 17, 2014, 01:14:21 PM |
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@ TERA you have already been called a troll and an annoying bitter person today, lol. You almost scored more than me today.  Jorge was called "dangerous" a day ago.... I think the real bottom will be gruesome for the bulls. |
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TERA
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February 17, 2014, 01:17:27 PM |
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Trading crypto is very stressful and turning me into a bitter person. This was actually half of the reason I was considering leaving and not just due to the risks. Also, in general, I am frustrated that mtgox is still being followed - I thought we had detached from mtgox. However, if you look at the chart of mtgox and bitstamp they are following eachother minute by minute - it is horrid.
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magicmexican
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February 17, 2014, 01:17:50 PM |
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Still not sure how far market will take that pump, seems like people are still very uncertain. But anyhow thats fine, given that i was predicting another wave of panic dumps right after the update.
On the more negative note tho, i'm very disappointed that other exchanges are still looking at Gox
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podyx
Legendary
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Activity: 2338
Merit: 1035
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February 17, 2014, 01:18:34 PM |
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@ TERA you have already been called a troll and an annoying bitter person today, lol. You almost scored more than me today. Jorge was called "dangerous" a day ago.... I think the real bottom will be gruesome for the bulls.  |
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JorgeStolfi
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February 17, 2014, 01:19:00 PM |
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Also, it makes sense to keep the hot wallet small to reduce the risk.
You already know that I am totally ignorant on how bitcoin works, and too old to learn; so forgive me for asking: * How many weeks does it take for the network to process a transfer of a few thousand bitcoins from MtGOX's cold wallet to MtGOX's hot wallet? * How many such transfers from the same wallet can the network handle per month? * If bitcoins were transferred into a wallet using certain custom software, can they be transferred out using a different software? * If so, how much would MtGOX have to pay for a software that they could use to process the pending withdrawals, while they fix theirs? |
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ChrisML
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February 17, 2014, 01:22:53 PM |
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I hoped to see reactions from bears that go like this: MARK HAS SCAMMED BLOCKCHAIN. ALL BTC BELONG TO HIM NOAW!
MTGox work togetha with BLOCKCHAIN, THEY STOLE ALL OUR BTC'S! PRICE WILL DROP BELOW $40/BTC. GO SHORT NOAW! NOAW!!!!! |
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