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Question: How much longer will Mt.Gox exist before they´re out of business? 01/29/014
1 day - 7 (7.3%)
3 days - 3 (3.1%)
1 week - 5 (5.2%)
2 weeks - 4 (4.2%)
1 month - 17 (17.7%)
maybe longer but the price will be at least 100% higher than on other exchanges - 60 (62.5%)
Total Voters: 96

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Author Topic: How much longer will Mt.Gox exist before they´re out of business?  (Read 3864 times)
fonzie (OP)
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January 26, 2014, 01:41:44 PM
 #1

How much longer will Mt.Gox exist before they´re out of business?

"To know death, Otto, you have to fuck life in the gallbladder"
www.hsbc.com  - The world´s local bank
"These FUDsters are insane egomaniacs that just want cheap BTC" - oblivi
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T.Stuart
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January 26, 2014, 01:42:17 PM
 #2

6 years

                                                                               
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fonzie (OP)
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January 26, 2014, 01:47:59 PM
 #3

Are you stalking me  Shocked? I´m scared Cheesy

"To know death, Otto, you have to fuck life in the gallbladder"
www.hsbc.com  - The world´s local bank
"These FUDsters are insane egomaniacs that just want cheap BTC" - oblivi
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January 26, 2014, 01:48:47 PM
 #4

Hmmmmm delicious profitable GOXFUD.

Protip: Exchanges are a zero sum game.
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January 26, 2014, 01:49:49 PM
 #5

I'm writing a futuristic movie about the future. It goes like this:

The year is 2016. All major bitcoin exchanges have suffered government interventions and hacks. Except one. The only one left standing is... Mtgox. Mtgox now offers a working withdrawal solution and everyone has sent their coins there. Trading is going as normal. There is a 5,000btc wall here, a 10,000btc wall there, and massive buys and dumps of 20,000 coins at a time are occurring. The sell side is stocked with 160,000 coins.

Later on, something happens with the business and people start speculating that MtGox is going to die. A btc veteran says "don't worry. I've seen mtgox die many deaths before and come back to life". Most people don't believe him, and don't understand, but other more experienced bitcoiners get an eerie feeling of deja vu and they can't quite put their finger on it.
fonzie (OP)
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January 26, 2014, 01:52:50 PM
 #6

Hmmmmm delicious profitable GOXFUD.

Protip: Exchanges are a zero sum game.

Money goes in, but no money goes out. How is that zero sum?

"To know death, Otto, you have to fuck life in the gallbladder"
www.hsbc.com  - The world´s local bank
"These FUDsters are insane egomaniacs that just want cheap BTC" - oblivi
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January 26, 2014, 01:54:46 PM
 #7

Hmmmmm delicious profitable GOXFUD.

Protip: Exchanges are a zero sum game.

So long as they don't engage in fractional reserve banking on bitcoins and get caught on the wrong side of a 10,000 % increase in value.  
Dalmar
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January 26, 2014, 01:58:39 PM
 #8

Mt.Gox bankruptcy will be the big crash we have all been anticipating, not China.  Grin



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January 26, 2014, 02:00:41 PM
 #9

Mt.Gox bankruptcy will be the big crash we have all been anticipating, not China.  Grin


Or mtgox fixes withdrawals, and suddenly 200,000btc appear on the order books, causing the entire market to panic with it.
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January 26, 2014, 02:01:38 PM
 #10

Mt.Gox bankruptcy will be the big crash we have all been anticipating, not China.  Grin



About 5 minutes left until someone comes and says: "IT´S ALREADY PRICED IN, DUUUDE"

 Grin Cheesy Cheesy

"To know death, Otto, you have to fuck life in the gallbladder"
www.hsbc.com  - The world´s local bank
"These FUDsters are insane egomaniacs that just want cheap BTC" - oblivi
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January 26, 2014, 02:13:09 PM
 #11

Hmmmmm delicious profitable GOXFUD.

Protip: Exchanges are a zero sum game.

Money goes in, but no money goes out. How is that zero sum?

So? Even if everyone cashes out their coin and the price goes to 10k, the cash in GOX remains and the traders who stayed and accepted fiat are now legal owners of that fiat. Gox eventually fixes it's transmission woes and as per the zero sum game, the traders who didn't panic get what's theirs in the end. Gox ain't corrupt, ain't in financial difficulty, but is suffering from bad management. They retain their fees earned over 5 years and have more than enough in reserve(btc and fiat) to get through the problems and in the end the only people who lose are that newb's that panicked on the back of FUD.

You keep flailing, I'll keep profiting thank you.
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January 26, 2014, 02:19:45 PM
 #12

Are you stalking me  Shocked? I´m scared Cheesy

T.Stuart doesn't like people who say nasty things about Bitcoin.

He bought into all the hype and has a rather high personal stake. He claims he got into Bitcoin at much lower prices than we see today but going by his behaviour, I would say the current market action is biting pretty close to his bones.

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January 26, 2014, 02:20:56 PM
 #13

Are you stalking me  Shocked? I´m scared Cheesy

T.Stuart doesn't like people who say nasty things about Bitcoin.

He bought into all the hype and has a rather high personal stake. He claims he got into Bitcoin at much lower prices than we say today but going by his behaviour, I would say the current market action is biting pretty close to his bones.

He he!  Cheesy

What's wrong MatTheCat? Why are you taking a swipe at me?

                                                                               
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.◆ ◆ ◆ ONE TOKEN TO MOVE ANYTHING ANYWHERE ◆ ◆ ◆.
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January 26, 2014, 02:22:14 PM
 #14

I don't think MtGox will extinct,
As it gets less and less popylar,
it will be able to process more transactions
fonzie (OP)
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January 26, 2014, 02:23:41 PM
 #15

Hmmmmm delicious profitable GOXFUD.

Protip: Exchanges are a zero sum game.

Money goes in, but no money goes out. How is that zero sum?

So? Even if everyone cashes out their coin and the price goes to 10k, the cash in GOX remains and the traders who stayed and accepted fiat are now legal owners of that fiat. Gox eventually fixes it's transmission woes and as per the zero sum game, the traders who didn't panic get what's theirs in the end. Gox ain't corrupt, ain't in financial difficulty, but is suffering from bad management. They retain their fees earned over 5 years and have more than enough in reserve(btc and fiat) to get through the problems and in the end the only people who lose are that newb's that panicked on the back of FUD.

You keep flailing, I'll keep profiting thank you.

So you suggest that everyone(at least the smart ones) should send their coins over there, and take advantage of the higher price?

"To know death, Otto, you have to fuck life in the gallbladder"
www.hsbc.com  - The world´s local bank
"These FUDsters are insane egomaniacs that just want cheap BTC" - oblivi
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January 26, 2014, 02:40:41 PM
 #16

I'm saying don't panic, hedge, and risk as much as you feel comfortable with. Some people no doubt are sending coins to gox on this basis. While I'm not panicing about gox, I wouldn't reccomend 100% holdings there either.
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January 26, 2014, 02:41:46 PM
 #17

they will be around much longer and will continue to play an important role in the market, the spread won't grow much larger than 35%, and maybe we even have seen the highest spread already.
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January 26, 2014, 03:13:53 PM
 #18

Mtgox is out of business already. It only takes some time for the brain to realize.

This has to do with plasticity and physiology of the human brain.

Some people have faster neurons though.

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January 26, 2014, 03:15:33 PM
 #19

Mtgox is out of business already. It only takes some time for the brain to realize.

This has to do with plasticity and physiology of the human brain.

Some people have faster neurons though.



As long as people wire them cash there in business, period. It's just that their business model that may have changed...
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January 26, 2014, 03:18:44 PM
 #20

Mtgox is out of business already. It only takes some time for the brain to realize.

This has to do with plasticity and physiology of the human brain.

Some people have faster neurons though.



As long as people wire them cash there in business, period.

You make me laugh, you think someone wires them money? seriously?

Did you?

Gneeheehee
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