Without mtgox the price will be under $100 within an hour

[schmokel]

OK, so what happens when the authorities seize Mt. Gox's servers, bank accounts, or both over some trumped up charges?  What happens to BTC then?

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[anu]

OK, so what happens when the authorities seize Mt. Gox's servers, bank accounts, or both over some trumped up charges?  What happens to BTC then?

Easy - the price will plummet on the other exchanges, the other exchanges will take over the business, the price will recover.

[notme]

OK, so what happens when the authorities seize Mt. Gox's servers, bank accounts, or both over some trumped up charges?  What happens to BTC then?

Easy - the price will plummet on the other exchanges, the other exchanges will take over the business, the price will recover.

Yep, that's a buy buy buy situation.  And another reason why you should not keep significant funds on any exchange.

[webchris]

OK, so what happens when the authorities seize Mt. Gox's servers, bank accounts, or both over some trumped up charges?  What happens to BTC then?

Think about what that would do to supply. In theory, the bitcoins would be gone, unless the charges are eventually dropped. No government is going to get involved in sending/trading bitcoins. I would think price would go up on the drop in supply.

[smoothie]

Ok so OP u failed in your prediction. Now go silent and create a new forum account to post under lol

[Xiaoma]

Ok so OP u failed in your prediction. Now go silent and create a new forum account to post under lol

I don't think he failed that badly, the price did actually touch $100 within a hour, but didn't pass the wall into double digits. Was VEEEERY close.

[Kazu]

Past where? BTC-E? You mean that place its nearly impossible to fund your account in $s EXCEPT by selling bitcoins?

[Gatekeeper]

just another example of pathetic noob trolls who don't have a clue what they're doing or talking about.

[smoothie]

Ok so OP u failed in your prediction. Now go silent and create a new forum account to post under lol

I don't think he failed that badly, the price did actually touch $100 within a hour, but didn't pass the wall into double digits. Was VEEEERY close.

Oh you mean the price on illiquid exchanges? Like btc-e.com? Don't make me laugh haha

[Gatekeeper]

smoothie, don't you know that an exchange that takes about 100 coins to drop it $20 is actually the true value indicator for bitcoin? yeah, hot news, you heard it here first.

Just like vircurex when it had a bid side of $101 and an ask side of $120, just the $19 spread there then, but clearly bitcoin is crashing because the bid side is $101

oh wait.. someone just bought 0.467btc and the price is now $110, my mistake.

 

[oakpacific]

I am pretty sure the only reason that is stopping this from turning into a major panic is bears' empty pockets.

[DoomDumas]

Title should be : Without MtGox CaVirtex would continue to lead the way, and other exchanges would follow

[crazy_rabbit]

Well, that was a fail OP.

[smoothie]

smoothie, don't you know that an exchange that takes about 100 coins to drop it $20 is actually the true value indicator for bitcoin? yeah, hot news, you heard it here first.

Just like vircurex when it had a bid side of $101 and an ask side of $120, just the $19 spread there then, but clearly bitcoin is crashing because the bid side is $101

oh wait.. someone just bought 0.467btc and the price is now $110, my mistake.

 

LOL clearly some people (OP) need to educate themselves on markets, depth, etc.

[xxjs]

Price is stable at http://bitcoinity.org/markets

Really, you need to just relax and let BTC be

Let it BTC

[phatsphere]

The emperor is naked. When noobs realize that bitcoin is still a funny experiment with unstable infrastructure (the gox) they start to withdraw their fiat, and the house of cards collapses down to the levels before the noobs started to speculate.

according to my own expert group, even n00bs have a brain. properly stimulated, some of them have the capability to learn. a weekend or two is enough to master the holy truth of bitcoin – and the nakedness is suddenly invisible.

[bitzox]

according to my own expert group, even n00bs have a brain. properly stimulated, some of them have the capability to learn. a weekend or two is enough to master the holy truth of bitcoin – and the nakedness is suddenly invisible.

+1

[MonadTran]

When noobs realize that bitcoin is still a funny experiment with unstable infrastructure (the gox) they start to withdraw their fiat

Bitcoin is a funny experiment.
US dollar is a failed experiment.
Gold is not even an experiment, it was already proven it can be controlled or confiscated.
Stocks are a scary experiment, at least for me.

It's pretty scary either way, but I am starting to think Bitcoin is a bit less scary than about a ton of other things.

Not going to withdraw any time soon.
I'm a noob.

[massivebitman]

why did you bump this... Seriously. For a +1?

It's not even relevant to the current market.

[bitzox]

why did you bump this... Seriously. For a +1?

It's not even relevant to the current market.

Did you bother to read the entire thread? If you did I think you would see the relevance, if you cant be bothered than ya you're right.