As we all know by now, mtgox is in big trouble. They say they will release a new statement on 10th Feb 2014, which most likely would be "we have sent all the stuck bitcoins back, but fiat withdrawals still won't go through".
What if, none of the future btc withdrawals don't work either? And mtgox finally admits to going belly up, like 2 months later?
What would happen when mtgox finally admits that it is in big trouble and can't serve us anymore? Would the bitcoin prices fall sharply AGAIN? Or would the prices hold steady (because its not like all exchanges will shutdown).
What I personally think will happen on Monday is, mtgox will release the "stuck" bitcoins back to the owners, and the respective owners will again try to withdraw all their btc holdings because not a lot of people trust mtgox anymore. And what happens when mtgox again receives thousands of withdrawal requests on monday? The coins get "stuck" again (i.e. if it indeed is a technical issue)!
Do you really think that they can fix a REAL technical issue in just 2 days ? If they were that competent, wouldn't they have fixed the technical glitch a long time ago?
I have some money held up with mtgox, and I really do hope that i do get my coins back, but I like to live in the reality. I know, there is something BIG going on inside mtgox - Either they are keeping the coins for themselves as part of an elaborate ponzi scheme OR they are in big trouble with the authorities and hence, can't release any coins until the authorities let them do so.
Either way, this DOES NOT LOOK GOOD. Like many will agree, its best that mtgox pays us back what they owe us and shuts down for good. Because all these price fluctuations caused by the mtgox uncertainity is making many new small-time investors lose their life savings.
Mt Gox suffers issues.
It does not looks good but we should wait with any panic.
They are one of the biggest crypto exchange around so I guess they will do their best to solve problem and earn some more profits.
We should just wait those 2 day for answers.
Thats is.
But surely, if MtGox will die - it might make some skahing with BTC price.
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