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Author Topic: Why are you going back to MtGox?  (Read 4950 times)
Betsinski
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June 26, 2011, 02:50:42 PM
 #21

Well, I use mtgox because of the eurotransfer (SEPA) with low fees, big volume and... that's it Smiley
Btw I had hard time searching for a market suitable for EU, could you recommend some ?
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dserrano5
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June 26, 2011, 03:03:09 PM
 #22

If money transfers are already ok, what else could/should have a market to be "suitable for EU"? Apart from the obvious "have its price stated in euros instead of dollars" Smiley.

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June 26, 2011, 03:06:29 PM
 #23

because TradeHill does not have USD withdrawal into LR, and LR market is basically dead (i refuse to sell for $12.5 per BTC), and bitcoin7 is also dead (or unborn, whichever you prefer).

MtGox has no real competitors, sadly.
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June 26, 2011, 03:11:52 PM
 #24

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
TH price started to fall the very instant MyGox started to handle BTC withdrawals - people went to sell on TH and price fell obviously.

well I guess $15 is where miners refuse to sell any lower. when speculators quit because of no price variance, there will be no one left to support this bubble and price will fall back to $1 ber BTC. should happen pretty soon ...
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June 26, 2011, 03:25:26 PM
 #25

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
TH price started to fall the very instant MyGox started to handle BTC withdrawals - people went to sell on TH and price fell obviously.

well I guess $15 is where miners refuse to sell any lower. when speculators quit because of no price variance, there will be no one left to support this bubble and price will fall back to $1 ber BTC. should happen pretty soon ...

This is a very interesting theory.  We can expect miner's to keep raising their reserve price as difficulty increases, but that price won't be supported unless there is a real use for bitcoins.

When BTC soars, you need to be READY!  PM me to learn more about my new e-book, How to Create and Profit from the Second Bitcoin Bubble available exclusively to BTC forum members!

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June 26, 2011, 03:30:58 PM
 #26

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
TH price started to fall the very instant MyGox started to handle BTC withdrawals - people went to sell on TH and price fell obviously.

well I guess $15 is where miners refuse to sell any lower. when speculators quit because of no price variance, there will be no one left to support this bubble and price will fall back to $1 ber BTC. should happen pretty soon ...

This is a very interesting theory.  We can expect miner's to keep raising their reserve price as difficulty increases, but that price won't be supported unless there is a real use for bitcoins.

LOL @ the idea that miners can just accept prices.  If the price starts falling, they'll unload at any price they can get.  Bitcoin is considerably different than a lot of other economies because you can't add resources to produce more of them (at least not for long).  We have a fixed supply being added.  This means demand will drive the price for those coins.

The other big variable is the hoarded coins.  There are a lot of speculators.  Speculators will eventually want to sell their coins.  If this ever happens all at once, it will be a huge crash.  The only question is if this will happen all at once or not.
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June 26, 2011, 03:38:13 PM
 #27

More experience, helped build the market, helped bitcoin get to where it is today.

We'll see what happens in the following week.
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June 26, 2011, 03:40:31 PM
 #28



this crash could happen today when Mt . Gox resumes trading  Tongue

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June 26, 2011, 03:43:43 PM
 #29

"Because thats where the money is!"
bitcoiners
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June 26, 2011, 03:47:39 PM
 #30

I have no choice.  Coins I deposited right before the crash are still not showing up in my account.  So, I have to wait.  And I'm getting more worried by the minute.
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June 26, 2011, 03:57:52 PM
 #31

Because I've come to enjoy getting Goxed.  It isn't so bad once you get used to it.  It can be quite pleasurable from the rear, in fact.

Really.
HappyFunnyFoo
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June 26, 2011, 04:01:47 PM
 #32

None of your money is secured or guaranteed at any of the exchanges.  All bitcoin exchanges are unregulated.  You accept the risk of potentially (e.g., probably) losing some or all of your assets.  I personally think anyone who transfers sizeable capital into holding accounts at ANY bitcoin exchange is a fool.  I'm not even taking into consideration all of the serious problems with investing in bitcoin in its current state (early beta, early beta, early beta... lack of wallet security, 99% of market volume is speculation, price has increased like dutch tulips and makes the dotcom boom look like the great depression, the fact that the entire blockchain will be rehashable in 3 hours by the average kid's computer in five years, etc)

I changed my mind about bitcoin after doing more research Wink
rjs
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June 26, 2011, 06:40:24 PM
 #33

Yes, Gox's lack of communication is about as unacceptable as it gets but with the TH market remaining stable to a degree throughout, and Gox users being given large trade discounts, I do not see why anybody who has taken the risk all this time at Gox is going to sell out now. Even if they leave Gox and go to another market out of principle, they will still be trading.
As pointed out in this post by another, they've added additional security measures, caused more volume on TH which is big because now you can get a trade executed unlike before which was my major concern due to such a small volume of trading, along with other benefits like a 2nd viable market to use.
Some one else pointed out that the traders at Gox will sit and wait to see who does what and then after a while if TH remains stable may decide to use similar values as a starting point.

We see more volatility over media coverage but even that is not causing too much change.

Just common sense although that may have absolutely no place in the BTC arena.
d.james
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June 26, 2011, 06:41:51 PM
 #34

I'll admit first, I'm now addicted to Gox during the past week Roll Eyes

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