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Author Topic: Why are you going back to MtGox?  (Read 4948 times)
akcom
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June 26, 2011, 11:12:36 AM
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I'd like to hear peoples reasons for going back to MtGox.  In my opinion, their handling of the situation has been haphazard at best.  It seems they've been very disingenuous about the exact circumstances of the break in.  With other exchangers out there, what is pushing people back to MtGox?
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FreeMoney
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June 26, 2011, 11:15:19 AM
 #2

I'd like to hear peoples reasons for going back to MtGox.  In my opinion, their handling of the situation has been haphazard at best.  It seems they've been very disingenuous about the exact circumstances of the break in.  With other exchangers out there, what is pushing people back to MtGox?

Biggest volume, no fees, better security than they had before.

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June 26, 2011, 11:18:15 AM
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I'd like to hear peoples reasons for going back to MtGox.  In my opinion, their handling of the situation has been haphazard at best.  It seems they've been very disingenuous about the exact circumstances of the break in.  With other exchangers out there, what is pushing people back to MtGox?

Biggest volume, no fees, better security than they had before.

This.
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June 26, 2011, 11:19:37 AM
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I'd like to hear peoples reasons for going back to MtGox.  In my opinion, their handling of the situation has been haphazard at best.  It seems they've been very disingenuous about the exact circumstances of the break in.  With other exchangers out there, what is pushing people back to MtGox?

Biggest volume, no fees, better security than they had before.

This.

Yes, this.

gentakin
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June 26, 2011, 11:20:30 AM
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Also, SEPA (EUR) transfers cost only a 2% fee.

1HNjbHnpu7S3UUNMF6J9yWTD597LgtUCxb
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June 26, 2011, 11:25:59 AM
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Relevant: http://www.reddit.com/r/Bitcoin/comments/i90yo/my_husband_beat_the_shit_out_of_me_thankfully_hes/
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June 26, 2011, 11:28:43 AM
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I'm not really looking to trade BTC in the near future, but some things Mt Gox have (Had? Wait and see...)going for them are:
- Volume
- EUR transfers
- Holds funds for traders. I light of recent events, this is obviously not without downsides, but I still much prefer only having to trust the exchange operator not to rip me off to having to wonder, with each trade, whether the person on the other end will pay up.

Selling out to advertisers shows you respect neither yourself nor the rest of us.
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June 26, 2011, 11:31:56 AM
 #8

as above
+ it's easy to get AUD in
+ tradehill doesn't seem to let me place orders if I don't have the funds to cover them at the time of placing the order whereas on mtgox it seems I could place a sell high and buy low even if there weren't any USD to cover the buy.
(perhaps for those sort of orders I should be using an external tool - but for now mtgox is more convenient)

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fassadlr
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June 26, 2011, 11:43:43 AM
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as above
+ it's easy to get AUD in
+ tradehill doesn't seem to let me place orders if I don't have the funds to cover them at the time of placing the order whereas on mtgox it seems I could place a sell high and buy low even if there weren't any USD to cover the buy.
(perhaps for those sort of orders I should be using an external tool - but for now mtgox is more convenient)


Hmmm come to think of it I've noticed that as well on TradeHill. A bit annoying I'll admit! I'll post a suggestion on the other thread that is going on this borad.
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June 26, 2011, 11:50:47 AM
 #10

I'd like to hear peoples reasons for going back to MtGox.  In my opinion, their handling of the situation has been haphazard at best.  It seems they've been very disingenuous about the exact circumstances of the break in.  With other exchangers out there, what is pushing people back to MtGox?
Biggest volume, no fees, better security than they had before.
This.
Yes, this.

yes !

Also, SEPA (EUR) transfers cost only a 2% fee. Not 25 US$ like Tradehill.

But the most important is the Trade Volume.

bitmessage:BM-2D9c1oAbkVo96zDhTZ2jV6RXzQ9VG3A6f1​
threema:HXUAMT96
imanikin
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June 26, 2011, 11:58:13 AM
 #11


It's peculiar how stable the rates have been since MtG went down.  Undecided

Certainly seems in line with the assertions that it was infested with pump-and-dump teams, dark-pool artists, and other market manipulators, whose scamming party was unexpectedly disrupted... Grin

IMHO, the fewer people go back to MtG, and the more other exchanges discover rates regardless of the MtG price, the better for Bitcoin in the long term...  Cool

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June 26, 2011, 12:04:47 PM
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It's peculiar how stable the rates have been since MtG went down.  Undecided

Certainly seems in line with the assertions that it was infested with pump-and-dump teams, dark-pool artists, and other market manipulators, whose scamming party was unexpectedly disrupted... Grin

IMHO, the fewer people go back to MtG, and the more other exchanges discover rates regardless of the MtG price, the better for Bitcoin in the long term...  Cool

I bet it would be even more stable if you froze every single bitcoin.

And how about you look at actual data. The last 5 days of mtgox was 13.5 - 18. TH last 5 days was 8 - 17.5

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relative
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June 26, 2011, 12:14:57 PM
 #13


+ tradehill doesn't seem to let me place orders if I don't have the funds to cover them at the time of placing the order whereas on mtgox it seems I could place a sell high and buy low even if there weren't any USD to cover the buy.
(perhaps for those sort of orders I should be using an external tool - but for now mtgox is more convenient)


what? MtGox lets you fake the entire orderbook by letting you enter orders that never get executed because you dont have the funds?
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June 26, 2011, 12:21:43 PM
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what? MtGox lets you fake the entire orderbook by letting you enter orders that never get executed because you dont have the funds?

The orders are inactive as long as the funds for them are not there.

Selling out to advertisers shows you respect neither yourself nor the rest of us.
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Batouzo
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June 26, 2011, 12:25:42 PM
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Before the security clusterfuck we where content with actually very good customer service (at least for us) at mtgox.

I think they deserve sort of second chance, but at same time now we know it is often not wise to place all your funds in one place - all eggs in one basket.

Some using other exchanges too is a good option.
Tasty Champa
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June 26, 2011, 12:58:19 PM
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They did give us enough time to change our other accounts we used the same password with, even if they are lying about something. After logging in except for the missing deal I needed, everything was as expected.

Honestly though, I'm in it for the kicks, it's better than porn, videogames and tacos.

The updates were epic trolling, hats off to that, and I'm assuming they won't open today because of some discrepancies I read about last night here. In fact I would be very surprised if they did open today, even as much as those discrepancies don't affect me, it's probably going to affect some unlucky bastard. However I will be eagerly awaiting the mexican standoff between buyers and sellers. Good chance the first 15 or so minutes will be a stand still. About the lying part, it's not so much to me, anyone who knows even a little about business knows no one is humble when it comes to business. The scum of the earth are in business & finance, it's all slight of hand and/or manipulation to some degree. When it comes to business and money can't trust anyone at all. Loyalty is rented. Know who you are dealing with and just avoid being the prey.
Eventually we will have our bitcoin addresses tattooed on us. xD fuck all.
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June 26, 2011, 01:19:30 PM
 #17


what? MtGox lets you fake the entire orderbook by letting you enter orders that never get executed because you dont have the funds?

The orders are inactive as long as the funds for them are not there.

Yeah - I always assumed they were just put in as some sort of pending order.

I also emailed tradehill about allowing a similar thing.  For example - it takes a while for your BTC deposit to be confirmed at tradehill - but it'd be nice to setup a sell order at the same time as arranging the deposit.

The tradehill folks sounded positive on the idea and responded: "That way, you can leave a few open orders, monitor the different exchanges and make a transfer to the exchange you choose, all while keeping your BTC in your wallet."
..which is a usecase I hadn't thought of - but I guess that could be good.


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June 26, 2011, 01:39:57 PM
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cus i love their charts!

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June 26, 2011, 01:45:53 PM
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SEPA zone withdraws are almost free.
I refuse to pay 12-22 Euro for that (looking @ you Bitcoin 7).

tomcollins
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June 26, 2011, 02:46:23 PM
 #20

I'd like to hear peoples reasons for going back to MtGox.  In my opinion, their handling of the situation has been haphazard at best.  It seems they've been very disingenuous about the exact circumstances of the break in.  With other exchangers out there, what is pushing people back to MtGox?

Everyone else sucks worse.  Mt. Gox is the tallest midget.
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