Mt.Gox scares people into selling

[bitbot]

everyone who's set their sell prices at something like 20, 25, or 30 needs to log back in and sell--the prices are NOT going back up. would you people rather be poor or poor and ashamed? don't do this to yourself, especially the guys holding 1000+ coins, sell at $10

Since you know prices are "NOT" going back up, can you please tell me the price next tuesday?

tuesday 7/19/11
high 13.35 low 12.98

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[Nagle]

What really makes people sell on Mt. Gox right now is probably that a large part of the Bitcoin community (read: Europeans) cannot buy them! ....

Its a shame because that wouldn't have been necessary. If it would at least have been prominently announced beforehand, we could have prepared and probably mitigated the impact.

Some part of Mt. Gox fails every few days. They're always blaming someone else. Either they're having problems with Liberty Reserve, or Dwolla, or their European bank, or their web server, or their order queue, or their network provider, or their security.

If you really need Bitcoins for something right now (unlikely, unless you're buying drugs), there's Tradehill.

[bitbot]

tradehill is not a good website and their instant-buy/sell feature that was supposed to be down for a "couple days" has been down for over three weeks now

[wareen]

If you really need Bitcoins for something right now (unlikely, unless you're buying drugs), there's Tradehill.

Thanks, I feel neither an immediate craving for Bitcoins nor for drugs - it just would have been nice to buy some (Bitcoins, that is )

I'm a bit disappointed by Tradehill because despite their promising list of currencies on the website, they still haven't managed to get a European partner or at least a European bank account which means rather high fees when trying to deposit Euros.

Every other market is not very interesting due to the low volumes.

I regularly buy small amounts at bitmarket.eu, but it becomes a great hassle for larger sums because you usually only have single-digit BTC offers within an acceptable price range and you have to manually pay everyone separately.

Guess we'll have to wait until Tuesday and hope the funds clear before the weekend...

Have fun buying cheap, everyone in the US

[TheGer]

Lol is any one of those not true?

What really makes people sell on Mt. Gox right now is probably that a large part of the Bitcoin community (read: Europeans) cannot buy them! ....

Its a shame because that wouldn't have been necessary. If it would at least have been prominently announced beforehand, we could have prepared and probably mitigated the impact.

Some part of Mt. Gox fails every few days. They're always blaming someone else. Either they're having problems with Liberty Reserve, or Dwolla, or their European bank, or their web server, or their order queue, or their network provider, or their security.

If you really need Bitcoins for something right now (unlikely, unless you're buying drugs), there's Tradehill.

[BillX]

What really makes people sell on Mt. Gox right now is probably that a large part of the Bitcoin community (read: Europeans) cannot buy them! ....

Its a shame because that wouldn't have been necessary. If it would at least have been prominently announced beforehand, we could have prepared and probably mitigated the impact.

Some part of Mt. Gox fails every few days. They're always blaming someone else. Either they're having problems with Liberty Reserve, or Dwolla, or their European bank, or their web server, or their order queue, or their network provider, or their security.

If you really need Bitcoins for something right now (unlikely, unless you're buying drugs), there's Tradehill.

.. and they are always going to be. Who did you expect? E-Trade or T. Rowe Price? Mt. Gox is a "mom and pop" shop that's very growing rapidly.

Get used to the growing pains or invest in corn futures with one of the above.

[Stephen Gornick]

New account will be open at 11:30 tuesday morning, and we'll put the new IBAN on the page a few hours later (don't know exactly how long the meeting will last).

UTC or JST time zone?

Incdentally, the site shows:
 "A new EUR bank account will be announced on Tuesday 19th 2011 at 13:00."
 - https://mtgox.com/users/addFunds

[mizike29]

I think the charts definately effect many users to sell or buy.  I know it does for me.  It wont for people that are in it for only the long term and just buy, hold and will sell later down the road, but miners or short term investors, especially with the crash that occured and the bubble to 30 bux a coin, when you see the coin worth sitting around 15 and then a couple days later it has dropped to 13.1 it can definitely make you want to sell sell sell, and cause the price to drop even further.

I do agree MTGOX is going to keep having these type of issues and do seem to be working on them and are still the best exchange to get bitcoins at.