sgdias (OP)
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Merit: 10
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February 20, 2014, 01:53:44 PM |
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If mtgox is dead, why price drops on other exchanges when price drop in mtgox ? I'm not getting... how can a proven fraudulent exchange can impact on bitcoin economy  |
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The Bitcoin software, network, and concept is called "Bitcoin" with a capitalized "B". Bitcoin currency units are called "bitcoins" with a lowercase "b" -- this is often abbreviated BTC.
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silverston
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February 20, 2014, 01:56:36 PM |
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bad news - price down. good news - price up.  |
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zvs
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Merit: 1000
https://web.archive.org/web/*/nogleg.com
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February 20, 2014, 01:57:37 PM |
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those bitcoins are going to end up somewhere
and a lot of them will be sold, once they start moving
though i'm puzzled as to why anyone would sell at $120 on gox, i think any bookie would take that 1:5 spread
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MatTheCat
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February 20, 2014, 02:00:14 PM |
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those bitcoins are going to end up somewhere
and a lot of them will be sold, once they start moving
though i'm puzzled as to why anyone would sell at $120 on gox, i think any bookie would take that 1:5 spread
Cos the only people getting real BTC out of Gox, will be Karpeles and his mates and they will be cashing out on other exchanges. Joe Bloggs needs to get into USD in order to have the hope of salvaging anything. |
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zvs
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Activity: 1680
Merit: 1000
https://web.archive.org/web/*/nogleg.com
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February 20, 2014, 02:03:08 PM |
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those bitcoins are going to end up somewhere
and a lot of them will be sold, once they start moving
though i'm puzzled as to why anyone would sell at $120 on gox, i think any bookie would take that 1:5 spread
Cos the only people getting real BTC out of Gox, will be Karpeles and his mates and they will be cashing out on other exchanges. Joe Bloggs needs to get into USD in order to have the hope of salvaging anything. shame that I can't go to some sports betting site and put $1000 down on a (*ed: 5:1) that mtgox pays out bitcoins owned |
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Tirapon
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February 20, 2014, 02:05:48 PM |
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those bitcoins are going to end up somewhere
and a lot of them will be sold, once they start moving
though i'm puzzled as to why anyone would sell at $120 on gox, i think any bookie would take that 1:5 spread
Cos the only people getting real BTC out of Gox, will be Karpeles and his mates and they will be cashing out on other exchanges. Joe Bloggs needs to get into USD in order to have the hope of salvaging anything. shame that I can't go to some sports betting site and put $1000 down on a (*ed: 5:1) that mtgox pays out bitcoins owned You could just wire $1000 to Gox and buy some coins? |
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sgdias (OP)
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Activity: 86
Merit: 10
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February 20, 2014, 02:16:02 PM |
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Just an update for you folks. The price on MtGox is irrelevant. I have 3.8 coins on MtGox and I can't sell them, buy anymore, or do anything as of yesterday when the price froze at $260 and they announced moving their office. So I attempted to open a new account at MtGox and got a 404 Error every time. The site doesn't work anymore, period. They have programmed it to just show a price that is slowly declining to zero. They are gone, bitcoins are gone, money is gone, there is no trading and there is nothing happening at MtGox. Just 2 minutes ago I tried to login to my MtGox account and got errors as well. The site is not functioning, only the market ticker at the top is working which is just computer code running in the background. Sorry people they are long gone but want to make you believe the exchange is still there so as not to crash the price on other exchanges where they are slowing liquidating the bitcoins to fools.
Nobody made a legal action ? Why the japanese police is not yet taking the bitcoins from mtgox ? (the same way FBI did with silk road) |
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sgdias (OP)
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Activity: 86
Merit: 10
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February 20, 2014, 03:30:33 PM |
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Wow, are you really Richard Branson ? nice to meet you dude. |
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johnny211
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February 20, 2014, 03:34:32 PM |
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You could just wire $1000 to Gox and buy some coins?
Yeah, if the bet is whether gox is solvent, then gox should be okay as counterparty  |
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MatTheCat
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February 20, 2014, 03:42:53 PM |
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shame that I can't go to some sports betting site and put $1000 down on a (*ed: 5:1) that mtgox pays out bitcoins owned
That's right zvs. You are getting just about 5.1 on BTC v Goxcoin at the moment so if you are so certain about Gox coming good, get your money in their now. People having no problems depositing funds, its just the other way around that is the issue. Be sure to let us know ow you get on with that. |
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polarhei
Sr. Member
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Activity: 462
Merit: 250
Firing it up
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February 20, 2014, 03:53:08 PM |
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If mtgox is dead, why price drops on other exchanges when price drop in mtgox ? I'm not getting... how can a proven fraudulent exchange can impact on bitcoin economy Mtgox is already dead due to the fiat withdrawal problem not solved. We normally have forgotten the name. The price is based on trust level. If there is more trust then the price will be reasonable for both parties. Why mtgox shows USD 135 while the other shows USD 500+ apiece? Let see when mtgox has solved his own problem. Another Bad statement received today. Let see when mtgox has fixed the problem |
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porcupine87
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February 20, 2014, 04:37:16 PM |
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those bitcoins are going to end up somewhere
and a lot of them will be sold, once they start moving
Why? |
"Morality, it could be argued, represents the way that people would like the world to work - whereas economics represents how it actually does work." Freakonomics
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GigaCoin
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Activity: 308
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Giga
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February 20, 2014, 07:04:35 PM |
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don't forget gox has like one million users, that's a huge loss of confidence in Bitcoin
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bitcon
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Merit: 1008
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February 20, 2014, 07:17:37 PM |
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Just an update for you folks. The price on MtGox is irrelevant. I have 3.8 coins on MtGox and I can't sell them, buy anymore, or do anything as of yesterday when the price froze at $260 and they announced moving their office. So I attempted to open a new account at MtGox and got a 404 Error every time. The site doesn't work anymore, period. They have programmed it to just show a price that is slowly declining to zero. They are gone, bitcoins are gone, money is gone, there is no trading and there is nothing happening at MtGox. Just 2 minutes ago I tried to login to my MtGox account and got errors as well. The site is not functioning, only the market ticker at the top is working which is just computer code running in the background. Sorry people they are long gone but want to make you believe the exchange is still there so as not to crash the price on other exchanges where they are slowing liquidating the bitcoins to fools.
anyone see GOX's new "Virtual" Mailing address? |
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GigaCoin
Sr. Member
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Activity: 308
Merit: 251
Giga
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February 20, 2014, 07:31:46 PM |
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Just an update for you folks. The price on MtGox is irrelevant. I have 3.8 coins on MtGox and I can't sell them, buy anymore, or do anything as of yesterday when the price froze at $260 and they announced moving their office. So I attempted to open a new account at MtGox and got a 404 Error every time. The site doesn't work anymore, period. They have programmed it to just show a price that is slowly declining to zero. They are gone, bitcoins are gone, money is gone, there is no trading and there is nothing happening at MtGox. Just 2 minutes ago I tried to login to my MtGox account and got errors as well. The site is not functioning, only the market ticker at the top is working which is just computer code running in the background. Sorry people they are long gone but want to make you believe the exchange is still there so as not to crash the price on other exchanges where they are slowing liquidating the bitcoins to fools.
i logged in just now , all good no errors. I also just realized i had $1 there lmao. |
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fcmatt
Legendary
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Activity: 2072
Merit: 1001
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February 20, 2014, 07:34:20 PM |
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Just an update for you folks. The price on MtGox is irrelevant. I have 3.8 coins on MtGox and I can't sell them, buy anymore, or do anything as of yesterday when the price froze at $260 and they announced moving their office. So I attempted to open a new account at MtGox and got a 404 Error every time. The site doesn't work anymore, period. They have programmed it to just show a price that is slowly declining to zero. They are gone, bitcoins are gone, money is gone, there is no trading and there is nothing happening at MtGox. Just 2 minutes ago I tried to login to my MtGox account and got errors as well. The site is not functioning, only the market ticker at the top is working which is just computer code running in the background. Sorry people they are long gone but want to make you believe the exchange is still there so as not to crash the price on other exchanges where they are slowing liquidating the bitcoins to fools.
i logged in just now , all good no errors. I also just realized i had $1 there lmao. heh. i got $0.00184 i made sure my last withdraw left them next to nothing a long time ago. |
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