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empoweoqwj
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January 29, 2014, 03:42:37 AM |
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Interesting the gox price has gone down $50 odd the last 12 hrs, whilst bitstamp only down slightly. No idea what's going on at Gox but I'm sure it must be fun working there .... that's presuming they have any staff of course  |
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severance26
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Activity: 70
Merit: 10
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January 29, 2014, 11:47:37 AM |
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if so, what currency is driving it down? the only currency that seems to have robust selling is AUD....
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empoweoqwj
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January 29, 2014, 12:04:15 PM |
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if so, what currency is driving it down? the only currency that seems to have robust selling is AUD....
No idea. Stopped trying to understand this sinking ship a while ago. Probably just "random volatility" - seems to happen with all companies about to go "kapoosh" |
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keithers
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Activity: 1456
Merit: 1001
This is the land of wolves now & you're not a wolf
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January 30, 2014, 12:15:51 AM |
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Gox is going to implode at some point, probably in the near future, as things seem to be getting worse and worse. That part that sucks is it is going to reflect poorly on the whole industry (even though it now represents such a small percentage of bitcoin users).
The media is going to hop all over it...I can already see headlines like...
"Most Prominent BitCoin (spelled that way on purpose) Exchange implodes losing investors millions..."
There are so many people that have started threads on this forum that are having withdrawal problems, it is only a matter of time before the ship sinks...
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empoweoqwj
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January 30, 2014, 05:08:10 AM |
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Gox is going to implode at some point, probably in the near future, as things seem to be getting worse and worse. That part that sucks is it is going to reflect poorly on the whole industry (even though it now represents such a small percentage of bitcoin users).
The media is going to hop all over it...I can already see headlines like...
"Most Prominent BitCoin (spelled that way on purpose) Exchange implodes losing investors millions..."
There are so many people that have started threads on this forum that are having withdrawal problems, it is only a matter of time before the ship sinks...
Think positively. When the inevitable happens, we have another great "buying cheap chips" opportunity. Bitcoin is very used to bad news and bouncing back from it. Gox is hideous and a blight on bitcoin. Let them die. Though I wish people could get their coins out first though  |
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taiping
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February 03, 2014, 02:01:29 AM |
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I made a SWIFT withdrawal request to MtGox for USD 8,050 on 14 December 2013 to my bank account in Thailand and I'm still waiting for the funds (as at 3 February 2014).
Replies to my Support Requests to MtGox are very slow (or non-existent) and they just apologize for the delay without giving an ETA.
I agreed to the 5% fee if they would transfer the funds within 7 working days (no reply).
I can find no registered address telephone or fax number for MtGox.
Is MtGox a Ponzi scheme or what?
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empoweoqwj
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February 03, 2014, 02:53:05 AM |
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I made a SWIFT withdrawal request to MtGox for USD 8,050 on 14 December 2013 to my bank account in Thailand and I'm still waiting for the funds (as at 3 February 2014).
Replies to my Support Requests to MtGox are very slow (or non-existent) and they just apologize for the delay without giving an ETA.
I agreed to the 5% fee if they would transfer the funds within 7 working days (no reply).
I can find no registered address telephone or fax number for MtGox.
Is MtGox a Ponzi scheme or what?
You won't get it. I made my SWIFT withdrawal to Thailand in early November. Not turned up. Try and get it cancelled is the only way. |
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Nagle
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Activity: 1204
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February 03, 2014, 03:28:14 AM |
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Yes, Mt. Gox is dying. The spread between Mt. Gox and other exchanges just passed 26%. That's huge. Live chart of Mt. Gox spread. With USD withdrawals stalled, and EUR , JPY, and BTC withdrawals now subject to long delays, nobody (except a few insiders) can get funds out of Mt. Gox. We're seeing the beginning of a panic. Prices today: mtgoxUSD $970 bitstampUSD $786 btceUSD $774 And now it's passed 16-19% going in the other direction. The gap has gone down markedly in the last few minutes. Panic over? JPY arbitrage back online? mtgoxUSD $929 ( -51) bitstampUSD $789 (+3) btceUSD $773 (-1) With Bitcoin withdrawals now stalling as well, the "can get Bitcoins but can't get dollars" effect that produced the spread is reduced. |
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whave
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February 03, 2014, 03:03:29 PM |
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First of all: "Is MtGox dying?" Well, duh! It's been dying since May/June and I have the impression that everyone in their right mind left at that point in time. Following the MtGox price and spread on charts was interesting and relevant to market movement at Bitstamp/BFX many months after that. Then volume declined to the point where it's no longer worth looking at it. It's like Kraken and Bitcoin-central now, those are there and people trade there but the price movements have zero influence on the high-volume exchanges (which are Bitstamp and BTCE). My humble opinion is that MtGox is no longer dying, it's already dead but someone forgot to turn the lights off so it looks alive. With Bitcoin withdrawals now stalling as well, the "can get Bitcoins but can't get dollars" effect that produced the spread is reduced.
What are they even trading over at MtGox now? mtgoxUSD for mtgoxBTC and vice versa? Perhaps it's fun or something but I don't quite see the point in trading one kind of worthless IOU for another worthless IOU. Withdrew 0.2 BTC on the 29th just to see if it's working; it was processed in a matter of minutes. Tried another one on the 31th, 0.05 that time, it was processed in minutes as well. Small TX seems to do the trick. Now I only wish my SEPAs would come through...  |
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Bobsurplus
Legendary
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Activity: 1008
Merit: 1000
Making money since I was in the womb! @emc2whale
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February 03, 2014, 03:05:23 PM |
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I am here to announce that this thread is:
CONFIRMED GOOD NEWS!
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Sonny
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February 03, 2014, 03:23:40 PM |
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I am here to announce that this thread is:
CONFIRMED GOOD NEWS!
I have been waiting for mtgox to die for a long long time.  |
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whave
Newbie
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Activity: 42
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February 03, 2014, 03:26:10 PM |
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I am here to announce that this thread is:
CONFIRMED GOOD NEWS!
I have been waiting for mtgox to die for a long long time. I was told in August that it's already dead and no one is going to see any money from them. Since then, I withdrew a few hundred euros, made a few good trades. Always had to wait a lot for the SEPA, but they eventually went through. So if they're really dying, I hope they can hold up till summer at least so my reamining 2K euros will arrive...  |
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empoweoqwj
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February 04, 2014, 09:46:58 AM |
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I am here to announce that this thread is:
CONFIRMED GOOD NEWS!
I have been waiting for mtgox to die for a long long time. I was told in August that it's already dead and no one is going to see any money from them. Since then, I withdrew a few hundred euros, made a few good trades. Always had to wait a lot for the SEPA, but they eventually went through. So if they're really dying, I hope they can hold up till summer at least so my reamining 2K euros will arrive... SEPA is dying slower than SWIFT wires, which haven't indeed been processed since last summer. You got lucky being in SEPA zone |
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komar (OP)
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February 06, 2014, 03:22:19 AM |
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Whoops, MtGox price dropped to $825. What's happening?
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skyrunner
Newbie
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Activity: 56
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February 06, 2014, 03:26:26 AM |
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Whoops, MtGox price dropped to $825. What's happening?
obvious - why pay more if anyway you can't get btc out, people may as well turn to fiat |
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empoweoqwj
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February 06, 2014, 03:32:18 AM |
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Whoops, MtGox price dropped to $825. What's happening?
obvious - why pay more if anyway you can't get btc out, people may as well turn to fiat How do you "turn to fiat" at Gox? Don't understand. |
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skyrunner
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February 06, 2014, 03:38:53 AM |
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Whoops, MtGox price dropped to $825. What's happening?
obvious - why pay more if anyway you can't get btc out, people may as well turn to fiat How do you "turn to fiat" at Gox? Don't understand. you sell your gox-btc for gox-usd or gox-euro and try to withdraw it, just a guess |
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dave111223
Legendary
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Activity: 1190
Merit: 1001
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February 06, 2014, 03:47:06 AM |
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A whale probably decided they would have better luck suing Gox for USD than suing them for BTC.
If I was going to have my money "stuck" and owed to me indefinately; I'd probably prefer that money be denominated in a traditional currency....easier for courts to comprehend.
Just look how We-exchange turned out....anyone with AUD in their accounts appears to have been paid back...BTC holders got 4% back...
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keithers
Legendary
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Activity: 1456
Merit: 1001
This is the land of wolves now & you're not a wolf
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February 06, 2014, 03:47:31 AM |
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If you guys also played online poker, then you remember the whole Ultimate Bet scandal, right? l feel like Gox is going to be the Ultimate Bet of bitcoin, where it ends up imploding, and it is found that its user's funds are being used for their own personal gain. The only liquidity they have to cash people out are when new people deposit funds. When the deposits stop coming in, the withdrawals stop going out.
I could be completely wrong...but something definitely doesn't feel right about what is going on over there...
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empoweoqwj
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February 06, 2014, 03:51:14 AM |
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Whoops, MtGox price dropped to $825. What's happening?
obvious - why pay more if anyway you can't get btc out, people may as well turn to fiat How do you "turn to fiat" at Gox? Don't understand. you sell your gox-btc for gox-usd or gox-euro and try to withdraw it, just a guess In case you've missed the news, getting fiat out of Gox has been nearly impossible for several months now. |
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