MtGox USD withdrawals and deposits will soon be processed!

[adamstgBit]

When mtgox starts processing USD withdrawals and deposits, how do you think this will affect price? why?

[Walsoraj]

When mtgox starts processing withdrawals and deposits, how do you think this will affect price? why?

To da' moon.

That's up, right?

[torba]

Withdraws and deposits as in fiat?

[adamstgBit]

Withdraws and deposits as in fiat?

yes. editing...



I think the price will rocket!


because everyone will get their dollars back, and they will want to buy bitcoins because of the good news.

[Wagner2014]

One theory is the price will go down. Why? People will no longer have to buy coins to sell on other exchanges to get access to their funds. This will cause the demand for BTCs to go down. The price between exchanges should narrow.

[humanitee]

When If mtgox starts processing USD withdrawals and deposits, how do you think this will affect price? why?

FTFY

[Walsoraj]

When The price will go straight up when mtgox starts processing USD withdrawals and deposits, how do you think this will affect price?. why? Please explain why in essay format, 5 page limit.

i fix

[ardana123]

One theory is the price will go down. Why? People will no longer have to buy coins to sell on other exchanges to get access to their funds. This will cause the demand for BTCs to go down. The price between exchanges should narrow.

It is not rocket science to conclude then that once Ft. Gox deposit/withdrawal volume is able to fill the arb channel it will close, most likely closer to the Gox side than to the Bitstamp side, since Gox has the volume advantage.

most logically they would meet somewhere in the middle

[adamstgBit]

incase anyone missed it, i will leave this here...

Deposits and Withdrawal Update Finally, the issues with deposits and withdrawals from Mt. Gox are being relieved, but still not at the rate we want. For example it currently takes up to 10 days to process a deposit because our bank, upon receiving deposits, notifies us of the deposit but holds them for 7~10 days before transferring them to our account. This has always been the case, and we were still crediting customer accounts before receiving the funds ourselves, but some cases in which the bank subsequently rejected the deposits meant that we incurred significant losses. The risk is now too high for us to credit accounts prematurely. We are in the process of forming relationships with new partners, banks, and taking other steps -- hopefully we will not only be back where we were before we encountered these issues , but much further ahead.

[ardana123]

One theory is the price will go down. Why? People will no longer have to buy coins to sell on other exchanges to get access to their funds. This will cause the demand for BTCs to go down. The price between exchanges should narrow.

It is not rocket science to conclude then that once Ft. Gox deposit/withdrawal volume is able to fill the arb channel it will close, most likely closer to the Gox side than to the Bitstamp side, since Gox has the volume advantage.

most logically they would meet somewhere in the middle

They would—if Bitstamp can pull out the volume to do that.

it's not a matter of "volume", if there's money to be made by easy arbitrage people would do it in a heartbeat, it's that simple.

[adamstgBit]

One theory is the price will go down. Why? People will no longer have to buy coins to sell on other exchanges to get access to their funds. This will cause the demand for BTCs to go down. The price between exchanges should narrow.

It is not rocket science to conclude then that once Ft. Gox deposit/withdrawal volume is able to fill the arb channel it will close, most likely closer to the Gox side than to the Bitstamp side, since Gox has the volume advantage.

most logically they would meet somewhere in the middle

They would—if Bitstamp can pull out the volume to do that.

it's not a matter of "volume", if there's money to be made by easy arbitrage people would do it in a heartbeat, it's that simple.

well ya but their wouldn't be enough volume on stamps for everyone to arbitrage
and their would be plenty of volume on gox to absorb the sales from  arbitrage
and so, price will will not meet in the middle.

[ardana123]

in the past we've seen a gap of as little as 50c between bitstamp and gox, so i expect this time won't be different, although stretched out over a longer timespan due to bitstamps lower volume

[adamstgBit]

in the past we've seen a gap of as little as 50c between bitstamp and gox, so i expect this time won't be different, although stretched out over a longer timespan due to bitstamps lower volume

the gap will not close as long as mtGox isn't processing USD withdrawal.

[adamstgBit]

http://www.youtube.com/watch?v=t_16OQx_I8E


finally an easy way to double your money

[Frozenlock]

in the past we've seen a gap of as little as 50c between bitstamp and gox, so i expect this time won't be different, although stretched out over a longer timespan due to bitstamps lower volume

the gap will not close as long as mtGox isn't processing USD withdrawal.

Well said!  

[Ares]

http://www.youtube.com/watch?v=t_16OQx_I8E


finally an easy way to double your money

what did I just watch

[adamstgBit]

http://www.youtube.com/watch?v=t_16OQx_I8E


finally an easy way to double your money

what did I just watch

LOL

can you imagine the rate of inflation, i can't

this thing is beyond retarded...

how can bitcoin fail when this is the alternative?

[bitcoin carpenter]

I  just kept waiting for the punchline

[Tzupy]

IF MtGox would normalize $ outflow, this would result in about 5 $ drop on MtGox, and maybe 2 $ rise on Bitstamp.

PS. This is an optimistic scenario. If someone had 20k BTC on MtGox and wanted to cash out now, a huge dump
down to 98 $ would be the best choice, assuming MtGox would be processing his withdrawal in less than 10 days.
But for now the small dumps of BTC transferred from MtGox to Bitstamp continues.

[jl2012]

incase anyone missed it, i will leave this here...

Deposits and Withdrawal Update Finally, the issues with deposits and withdrawals from Mt. Gox are being relieved, but still not at the rate we want. For example it currently takes up to 10 days to process a deposit because our bank, upon receiving deposits, notifies us of the deposit but holds them for 7~10 days before transferring them to our account. This has always been the case, and we were still crediting customer accounts before receiving the funds ourselves, but some cases in which the bank subsequently rejected the deposits meant that we incurred significant losses. The risk is now too high for us to credit accounts prematurely. We are in the process of forming relationships with new partners, banks, and taking other steps -- hopefully we will not only be back where we were before we encountered these issues , but much further ahead.

This is just BS. It mentions nothing about withdrawals