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noob_jul11
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September 24, 2013, 02:04:50 PM
 #1

Is MtGox dead? If I remember correctly, the usd/btc doesn't seem to have changed much.

What other exchanges are there??
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1511438393
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Reply with quote  #2

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xypos
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September 24, 2013, 02:23:48 PM
 #2

https://www.mtgox.com/

Volume: 4k daily.
It is not dead Roll Eyes


But you can use bitstamp (if you are european) or Coinbase, for instance.














 

 

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noob_jul11
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September 24, 2013, 03:21:53 PM
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Ahh ... Sorry, didn't notice the volume.

What happened? The volume has gone down quite a bit.
bishop_Pavel
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September 24, 2013, 03:37:58 PM
 #4

what MtGox means? Sad
Eito
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September 24, 2013, 04:05:40 PM
 #5

mtgox is a exchange website
pedrog
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September 24, 2013, 10:03:22 PM
 #6

Try Bitstamp.net

trumbadera
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September 24, 2013, 10:07:01 PM
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It is not dead Roll Eyes

You right, still trading is going on there, but how long ?  Tongue
nahtnam
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September 25, 2013, 12:58:53 AM
 #8

There is a lot of trading going on with mt gox, but businesses like coinbase are better!

nobbynobbynoob
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September 25, 2013, 01:06:09 AM
 #9

what MtGox means? Sad

Magic the Gathering online exchange. Smiley It is one of the granddaddy bitcoin exchanges and still trades large volume today, but has suffered recent troubles with US government seizures of fiat funds, and banking-system logjams with fiat withdrawals. It opened in July 2010 and first traded bitcoin at an exchange rate of about BTC16 to one dollar.

Oh, and, welcome to Bitcointalk. Smiley

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patino11
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September 25, 2013, 04:07:50 PM
 #10

Try Bitstamp.net or coinbase.com
sell_trust
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September 25, 2013, 04:34:43 PM
 #11

I lost my btc on coinbase once
MAbtc
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September 25, 2013, 06:17:36 PM
 #12

https://www.mtgox.com/

Volume: 4k daily.
It is not dead Roll Eyes


But you can use bitstamp (if you are european) or Coinbase, for instance.

LOL @ acting like 4k daily is anything to get excited about. There isn't much propping the price up here.  Wink
CEG5952
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September 26, 2013, 06:29:54 PM
 #13

Is MtGox dead? If I remember correctly, the usd/btc doesn't seem to have changed much.

What other exchanges are there??


mt gox is dying, not dead.  Wink

i like BTC-E, bitstamp if i need a bit more depth. but now bitstamp will require id verification even to transfer BTC!

briguy37
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September 26, 2013, 08:21:27 PM
 #14

The USD withdrawl issues are slowly killing gox in the USD market. 

The current visible USD buyer depth is a little over 40,000BTC and centered at $136.5 (http://bitcoincharts.com/markets/mtgoxUSD_depth.html).  July 30th, that depth was at 70,000BTC (http://decentralizedhashing.com/2013/07/july-30-bitcoin-price-update/), which means a depth drop of approximately 25% in less than 2 months if you convert the depths to USD.

Looking at the historical data (http://bitcoincharts.com/charts/mtgoxUSD#rg90ztgSzm1g10zm2g25zv and click 'Load Raw Data'), there has been $217,693,425.40 worth of trades since July in the last 3 months (mid-June was when withdrawals started having big problems).  Assuming .6% USD was taken out by each trade (actually up to 1.2% if you consider both sides, though for heavy buyers it would be lower due to the fee schedule), that means $1,306,160.55 has left the trading system. 

Likewise, the Average daily trading volume is dropping (in USD):
June:    $3,689,480.02
July:     $3,183,861.17
August: $2,196,336.10
Sept:    $2,172,255.06

Look at the major drop in August as people realized that "USD withdrawals resumed" was a huge stretch of the truth.

Also, as for Gox's cash-flow, would you deposit USD into Gox when you don't know if you can withdrawal it?  NO!  On top of that, their price/BTC is way higher!  That is a formula for zero USD into the system. 

However, cash IS flowing out of Gox (at least out of available trading funds).  How?  Why in trading fees to Gox!  If you assume .6% for each trade (could be up to 1.2% if both parties are considered and there are no rate discounts) and no deposits since the beginning of July, that means $1.3 million less in the USD trading depth users have to work with.


For these reasons, if I were Gox my number one priority would be getting USD withdrawals back online.  If they do that, USD will start flowing for them again, BTC price indexes would include them again, trade volumes will rise, and thus their profits will go up.  However, MAJOR damage has been done, as they have left gaping holes for other exchanges and have lost the faith of most of their USD customers. 
Marbit
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September 26, 2013, 08:32:06 PM
 #15

yes, mt gox is dead.  Grin
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September 26, 2013, 10:10:25 PM
 #16

Wow. I didn't realize that Mt. Gox was diving that quickly.
terman45x
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September 26, 2013, 10:30:12 PM
 #17

Likewise, the Average daily trading volume is dropping (in USD):
June:    $3,689,480.02
July:     $3,183,861.17
August: $2,196,336.10
Sept:    $2,172,255.06


Wow, I cant believe they are still in business, considering you cant withdraw USD and your forced to buy expensive BTC to get out of there.
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