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Author Topic: How long do you reckon it will take until trading resumes?  (Read 2590 times)
dennis_sweden
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June 21, 2011, 07:47:13 PM
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I've been awake for 40 hours and don't want to miss the opening of trade; would like to observe what happens and be able to make a decision whehter I should try to withdraw my $700 (Mtgox could be broke) or buy bitcoins and transfer to wallet. I'm also dead tired, so there isn't much realistic hope of trade resuming within the next 12 hours - or am I wrong?

How can you tell when a politician is lying? His lips are moving. A little girl asked her father, 'do all fairy tales begin with "Once upon a time"? The father replied, 'No, some begin with - If I am elected.' How come political leaders don't have all the answers until they write their memoirs?
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klaus
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June 21, 2011, 07:50:41 PM
 #2

mtgox will inform us 24 hours before re-opening.

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NO_SLAVE
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June 21, 2011, 07:51:13 PM
 #3

go to bed dude. Theres not much you can do. Let the market stabilize then make a clear decision.
Tradehill looks stable, which I think is a good indication of the market.

finnthecelt
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June 21, 2011, 07:51:44 PM
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mtgox will inform us 24 hours before re-opening.

So get some sleep.
dennis_sweden
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June 21, 2011, 08:05:36 PM
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Thanks, I have been following Tradhill and it has been stable during the past days, but of course, the volumes are much smaller. Great that Mtgox is going to inform the market 24 hours before reopening, some of the best piece of information from them so far.

How can you tell when a politician is lying? His lips are moving. A little girl asked her father, 'do all fairy tales begin with "Once upon a time"? The father replied, 'No, some begin with - If I am elected.' How come political leaders don't have all the answers until they write their memoirs?
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June 21, 2011, 08:20:41 PM
 #6

For those who are waiting for their claim to get processed, I have the following point:

I think that even if the first 20% of the claims will get processed reaaaly quick (like in 12 hours) the exchange will stay closed because MtGox will wait for the other - at least - 50-60% of the user DB to get their claims submitted. Reopening trade before the majority of the users is cleared would be just unfair! And of course those users above 20% will have forgotten about Mtgox and wont look into the issue for another week or two.

Keeping this in mind one can say that ETA for Mt.Gox exchange is at least 1 to 2 weeks, or even longer!

So everyone just relax in the mean time... :-)

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finnthecelt
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June 21, 2011, 08:27:45 PM
 #7

Festina lente!!!
RandyMarsh
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June 21, 2011, 08:35:49 PM
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4 weeks 3 days, thats friday 22 july at some point... mark my words

Stan?! STAN?!?!
finnthecelt
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June 21, 2011, 08:40:55 PM
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4 weeks 3 days, thats friday 22 july at some point... mark my words

We all know that! Seriously dude, what time?Huh
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June 21, 2011, 08:43:08 PM
 #10

Read this thread as 'Résumé' and went in already having a way of thought that deal with people having some kind of track record of their past bigger trades and you can verify by calling people from their résumé.

Well I thought the idea was dumb!

But I see I was completely wrong about this thread, so now who's the dumb one!

It's me.


Also, seriously, that would be a dumb idea, but I can see this being a thread too.

RchGrav
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June 21, 2011, 08:55:39 PM
 #11

I really hope that your estimates are way off...  Although with the claim site being offline its not really a great sign.

Weeks in Bitcoin time is like YEARS in real time...

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finnthecelt
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June 22, 2011, 02:59:47 AM
 #12

About a week.

And the voice of reason. Those eyes!!!!!! Smiley
Horkabork
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June 22, 2011, 03:09:46 AM
 #13

About a week.

A Mt. Gox week or a normal week? A Mt. Gox day is like 3 normal days.

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fabianhjr
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June 22, 2011, 03:24:34 AM
 #14

TradeHill, Virwox, BitcoinMarket, btcex, Bitcoin7, etc;there are plenty! You don't need to wait for MtGox.

AngelusWebDesign
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June 22, 2011, 03:27:03 AM
 #15

I also think it will be a while.

Who knows how long it will take them to "process" the "account claims". This is about as far from a simple password reset as you can get.

They've installed a whole new trading SYSTEM -- everything on their end is new. They might be going as fast as they can, but it's still going to drive people away.

Of course, we can't all just "move on" because most of us have USD/BTC stuck at Mt. Gox. All I'm waiting for is to pull mine out. I don't know if I'll ever trade there again.
finnthecelt
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June 22, 2011, 03:29:49 AM
 #16

About a week.

A Mt. Gox week or a normal week? A Mt. Gox day is like 3 normal days.

Ok, I will give them 'contractor days' which is about double... So, two weeks.

chodpaba,

Haven't seen relevant posts from you so I pose the question(s)....

Use Mt. Gox, no use Mt. Gox?

Forgive and forget? Forgive and use and always be shitting yourself?Huh
AngelusWebDesign
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June 22, 2011, 03:35:15 AM
 #17

TradeHill, Virwox, BitcoinMarket, btcex, Bitcoin7, etc;there are plenty! You don't need to wait for MtGox.

You're forgetting that about 70 - 80% of the *liquid* bitcoin economy is tied up at Mt. Gox.

Sure, some people are putting MORE cash in, or depositing NEWLY MINTED bitcoins in other exchanges -- but the real "crash" and/or "recovery" can't happen until the Big Boy re-opens. There is so much cash there it hurts.
finnthecelt
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June 22, 2011, 03:46:17 AM
 #18

TradeHill, Virwox, BitcoinMarket, btcex, Bitcoin7, etc;there are plenty! You don't need to wait for MtGox.

You're forgetting that about 70 - 80% of the *liquid* bitcoin economy is tied up at Mt. Gox.

Sure, some people are putting MORE cash in, or depositing NEWLY MINTED bitcoins in other exchanges -- but the real "crash" and/or "recovery" can't happen until the Big Boy re-opens. There is so much cash there it hurts.


All I can think is, "Ma Bell"!!!

That's too much in any one group's hands. Not willing to say this was divine providence but Christ man! That's unreasonable!!!
FlipPro
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June 22, 2011, 03:48:36 AM
 #19

TradeHill, Virwox, BitcoinMarket, btcex, Bitcoin7, etc;there are plenty! You don't need to wait for MtGox.

You're forgetting that about 70 - 80% of the *liquid* bitcoin economy is tied up at Mt. Gox.

Sure, some people are putting MORE cash in, or depositing NEWLY MINTED bitcoins in other exchanges -- but the real "crash" and/or "recovery" can't happen until the Big Boy re-opens. There is so much cash there it hurts.

People were really fucking stupid to put every single penny they had in 1 website. It angers me beyond any reason, that the biggest destabilizer to the bitcoin, is human stupidity.

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TraderTimm
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June 22, 2011, 03:54:25 AM
 #20

People were really fucking stupid to put every single penny they had in 1 website. It angers me beyond any reason, that the biggest destabilizer to the bitcoin, is human stupidity.

I agree. I would also extend that to include the mining pools. The irony there is rather thick. They are prime targets for disruptive behavior. I think our next crisis will involve something along those lines. We only learn when bashed over the head, it seems.


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