Transferring 25k into Gox to buy at current prices

[Ibian]

It would be difficult to imagine how Gox could be insolvent, given that they have had months to buy BTC at market prices and sell them at Gox prices, and now have had days to buy BTC at Gox prices and sell them at market prices.  The spreads have been very wide, and very profitable, and it is trivially easy for them to do this.  If they did not, the management should be committed to a psychiatric institution for care.

I think i am aligned with this thinking. I can't imagine that Gox hasn't taken advantage of this situation to close any financial holes they may be dealing with. I think the only way Gox bellies up at this point would be if they are indeed truly going to walk away with everyone's coins and if that was their intention it would have already happened.

Have to make it appear legal. Or at least not illegal enough to end up behind bars for very long. That means putting up a facade of trying to save a troubled business.

[thelema93]

$300 BTC is mighty appealing............................................ hmmmmmmm

Despite what a thousand Fuddy trolls on this forum will tell you - Gox DOES pay out. I have had many cash withdrawals from them and basically never had any issues with them. The current bug -fixing halt on BTC withdrawals is a bit worrying, but I don't see any factual reason to think that they are lying about that. They want to remain the biggest exchange so obviously they will fix the problem. BUY THE COINS NOW while they are cheap!

[Mythul]

Well if 25k doesn't mean that much to you then I guess it is "ok-ish".

[fluidjax]

I think a lot of people listen and believe the fud a little too much.
Gox has had problems in the past, poorly communicated, pissed off many people, but came through and continued.
I have little doubt it will do the same this time, confidence will have dropped even more, but it will return, people will get their BTC and wait ridiculous times for their fiat. The price will increase to 10-15% over stamp.
There is some risk, but there is also much reward from buying BTC on Gox now.
 For me, I would say that the reward outways the risk.

[Bitbuy]

True, this is a high risk gamble...but it could pay off...
I do think that Gox will implement SOME limitiation though.
Else: people buy cheap coins now, and as soon as BTC withdrawal is possible -> bank run (gox run). I don't think they will allow this in some way or another (e.g some "communication"

[rocks]

You can check your money, but you can't check it out.

[EuroTrash]

also hire a hitman, just in case

Yes, rumour has it there are some hitmen offering their services on Silk Road

Think of it like a double or nothing gamble. If gox support fixes the withdrawals, then he doubles his money. If they don't, then he gets nothing. However, it's possible that even if they never fix btc withdrawal, he may be able to get the fiat back so it's actually better than double or nothing.

I like that line of thinking. Basically he is buying CDS denominated in Goxdollars, which he'll exchange on Gox for CDS denominated in GoxBTC. Actually all money on any exchange (or either in a bank account) can be thought of as if it were a CDS - in the sense that it is a gamble on whether the exchange will honour their obligation to you. Am I correct here?

And 25k USD are pocket money for some of us (not me).

You can check your money, but you can't check it out.

"Welcome to Hotel California" singing in my head  

[igorr]

True, this is a high risk gamble...but it could pay off...
I do think that Gox will implement SOME limitiation though.
Else: people buy cheap coins now, and as soon as BTC withdrawal is possible -> bank run (gox run). I don't think they will allow this in some way or another (e.g some "communication"

better play holdem poker.

[technocoma]

Pretty high risk but gox have had all sorts of problems in the past but nearly always been able to hold onto users funds (bar once but it was paid back).

Also depends on how much $25k is to you. If its all the money you have then no its stupid.

Better chance than betting it on dice games imo, but who knows. As long as you know its a high risk gamble & can afford it then go for it if it goes as planned you will at least double up maybe triple.

[igorr]

If we were deceived of mtgox, can we also be deceived and of Bitstamp?

[Mikcik]

True, this is a high risk gamble...but it could pay off...
I do think that Gox will implement SOME limitiation though.
Else: people buy cheap coins now, and as soon as BTC withdrawal is possible -> bank run (gox run). I don't think they will allow this in some way or another (e.g some "communication"

OMG (!). There could not be any run on GOX since it doesnt have any fractional reserve system applied to BTC (at least they say they dont, if they had it would be a fraud).

I was also thinking about doing so, but only with around $500 which i can afford to lose, and as far as i know, gox had problems sending fiat out of exchange for months, but the problems with withdrawl of BTC is present only currently for a limited time period...? Its a new thing that occured only a week ago, so sending in fait and getting out BTC shouldnt be an issue... or is also the BTC withdrawl problem ongoing for several weeks or months?? (i dont pay attention to gox so i dont know)...

[fluidjax]

If we were deceived of mtgox, can we also be deceived and of Bitstamp?

FUD...almost everything is possible.
Either evidence or shut up.

[igorr]

If we were deceived of mtgox, can we also be deceived and of Bitstamp?

FUD...almost everything is possible.
Either evidence or shut up.

should be cautious before, because it's late when your scams, as in the case of mtgox !

[fluidjax]

If we were deceived of mtgox, can we also be deceived and of Bitstamp?

FUD...almost everything is possible.
Either evidence or shut up.

should be cautious before, because it's late when your scams, as in the case of mtgox !

It doesn't need saying that everyone should use caution when it comes to Bitcoin.
But implying or suggesting that some company could be dishonest simply because it is possible, is bullshit and FUD.
Without any further information or evidence you are spreading fear with an agenda.

[T.Stuart]

$300 BTC is mighty appealing............................................ hmmmmmmm

[EuroTrash]

http://www.coindesk.com/mt-gox-users-awaiting-funds-survey-reveals/

(Sorry for repeat posting)

[bitleif]

Sending money to Gox right now is like buying a lottery ticket. Results may be very good or results may be zero, there is little inbetween. As long as you're aware of that, do whatever you want.

[prof7bit]

Its too late.

By the time the fiat is in gox the withdrawal problems will be fixed and btc/goxusd above $800 again. I personally was lucky to have a 5 figure EUR amount already sitting in my gox account, so I got a lot of cheap coins :-)

[Ibian]

Its too late.

By the time the fiat is in gox the withdrawal problems will be fixed and btc/goxusd above $800 again. I personally was lucky to have a 5 figure EUR amount already sitting in my gox account, so I got a lot of cheap coins :-)

You got a lot of goxcoins. Time will tell if you can convert them into bitcoins.

[roslinpl]

haha! GoxCoins

You can play with them how long you want But ... might not win this game.