Gox BTC hitting TH Auction Block

[zef]

it looks like there is trading going on right now on gox, if you watch the chart.  I cant make any though, says they are testing.
http://mtgoxlive.com/

That website is directed at TradeHill at the moment.

Thanks good to know

[DrYe5]

*yawn*

Yeah, I'll bet you're sleeping right through this whole episode, Trader.

[DrYe5]

The plummet continues... >10% fall from today's high since Mt. Gox opened. No news to break the trend in sight, many holders traumatized by the hack.

[andes]

TH right now


I think lots of BTC liberated from MtGox today, but not as many dollars. So for now, the supply and demand leans towards more BTC than dollars.

[BTC Economist]

Mt. Gox hack is only the surface of the problem right now....some fundamental problems (ie. lack of recourse to criminal activity) with the currency are contributing to the sell-off.

[andes]

Mt. Gox hack is only the surface of the problem right now....some fundamental problems (ie. lack of recourse to criminal activity) with the currency are contributing to the sell-off.

If you look at the upwards trend for the last days, its clear that the selloff of the last hours has to do with MtGox opening.

[BTC Economist]

Mt. Gox hack is only the surface of the problem right now....some fundamental problems (ie. lack of recourse to criminal activity) with the currency are contributing to the sell-off.

If you look at the upwards trend for the last days, its clear that the selloff of the last hours has to do with MtGox opening.

obviously as that's where the funds were trapped.

[TraderTimm]

Mt. Gox hack is only the surface of the problem right now....some fundamental problems (ie. lack of recourse to criminal activity) with the currency are contributing to the sell-off.

Don't forget half-assed theories. Those are completely related, too.

I miss the old forums, before the wave of hysteria washed over it.

[TriumVir]

They can set the market to any price they'd like and it makes absolutely no difference.  Price doesn't move unless there's a transaction.  MtGox isn't setting the price, the market will quickly fix it.

Yes . . . but setting the price so high, for right now, limits the number of BTC that can be withdrawn.

[BTC Economist]

yay an uptick!

[andes]

Mt. Gox hack is only the surface of the problem right now....some fundamental problems (ie. lack of recourse to criminal activity) with the currency are contributing to the sell-off.

If you look at the upwards trend for the last days, its clear that the selloff of the last hours has to do with MtGox opening.

obviously as that's where the funds were trapped.

"Fundamental problems" does not account for the upwards trend of the last days.

[DrYe5]

Mt. Gox hack is only the surface of the problem right now....some fundamental problems (ie. lack of recourse to criminal activity) with the currency are contributing to the sell-off.

If you look at the upwards trend for the last days, its clear that the selloff of the last hours has to do with MtGox opening.

obviously as that's where the funds were trapped.

"Fundamental problems" does not account for the upwards trend of the last days.

Attempting to reach parity with Gox' 17.5 at the purported starting times does, however.

[BTC Economist]

Mt. Gox hack is only the surface of the problem right now....some fundamental problems (ie. lack of recourse to criminal activity) with the currency are contributing to the sell-off.

If you look at the upwards trend for the last days, its clear that the selloff of the last hours has to do with MtGox opening.

obviously as that's where the funds were trapped.

"Fundamental problems" does not account for the upwards trend of the last days.

There is so much money locked up since Mt Gox went down that the last few days are mostly irrelevant.  Tradehill was less well known and most of the people in there right now are techie types.  Mt. Gox did have some investor types because of its higher profile and these people are going to price systemic risk into their trading. 

[wareen]

They can set the market to any price they'd like and it makes absolutely no difference.  Price doesn't move unless there's a transaction.  MtGox isn't setting the price, the market will quickly fix it.

Yes . . . but setting the price so high, for right now, limits the number of BTC that can be withdrawn.

Nope - withdraw limit of BTC seems to have been manually set to 100 BTC for everyone.

[Havoc]

The plummet continues... >10% fall from today's high since Mt. Gox opened. No news to break the trend in sight, many holders traumatized by the hack.

No one will fall for your trolling.

[DrYe5]

The plummet continues... >10% fall from today's high since Mt. Gox opened. No news to break the trend in sight, many holders traumatized by the hack.

No one will fall for your trolling.

Just stating the facts mam.

[TriumVir]

They can set the market to any price they'd like and it makes absolutely no difference.  Price doesn't move unless there's a transaction.  MtGox isn't setting the price, the market will quickly fix it.

Yes . . . but setting the price so high, for right now, limits the number of BTC that can be withdrawn.

Nope - withdraw limit of BTC seems to have been manually set to 100 BTC for everyone.

Is that so? If so, I stand corrected. Is that a temporary thing or what? Will we go back to the $1,000 standard once MtGox launches and a new trading price is established?

[Havoc]

The plummet continues... >10% fall from today's high since Mt. Gox opened. No news to break the trend in sight, many holders traumatized by the hack.

No one will fall for your trolling.

Just stating the facts mam.

No facts, just inaccurate numbers and speculation.

Todays high at Tradehill was 16.50. The rate has not even been close to the 14,85 required for a 10% fall.

Stop trolling!

[BTC Economist]

The plummet continues... >10% fall from today's high since Mt. Gox opened. No news to break the trend in sight, many holders traumatized by the hack.

No one will fall for your trolling.

Just stating the facts mam.

Oh, I guess facts is facts.

Riddle me this DrYe5... What happens to the exchange rate when one side of the orderbook is empty???

What do you think will happen when Mt. Gox opens with no BTC on the orderbook because everybody withdrew it?

Mt. Gox will be shortly irrelevant so I'm not sure the point of your question.  Only a fool would trust their money to Mt. Gox.

[grndzero]

The plummet continues... >10% fall from today's high since Mt. Gox opened. No news to break the trend in sight, many holders traumatized by the hack.

No one will fall for your trolling.

Just stating the facts mam.

Oh, I guess facts is facts.

Riddle me this DrYe5... What happens to the exchange rate when one side of the orderbook is empty???

What do you think will happen when Mt. Gox opens with no BTC on the orderbook because everybody withdrew it?

Mt. Gox will be shortly irrelevant so I'm not sure the point of your question.  Only a fool would trust their money to Mt. Gox.

For someone representing an economist you suck at answering simple economics questions.