Will Gox ever allow Withdrawals?

[pbody]

Is Gox ever going to allow withdrawals? Is there any sort of insurance that will cover losses if they do not? Can they be sued?

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[Einewton]

What mankes you think they will not? They will...

[pbody]

What mankes you think they will not? They will...

As long as they will allow withdrawals eventually, why not arbitrage? I'm opening up a mt gox account right now and verifying it. Am I insane for doing this?

[infoman]

What mankes you think they will not? They will...

As long as they will allow withdrawals eventually, why not arbitrage? I'm opening up a mt gox account right now and verifying it. Am I insane for doing this?

you are not insane, you are very very brave, almost insanely brave...

I have quite a few btc's held at gox but I gave up every hope I will ever see them

[smoothie]

Even if they ever do....it will be a race to the exits...and then collapse, withdrawals resuspended.

[Nagle]

Is Gox ever going to allow withdrawals?

Gox will allow withdrawals shortly after the day when the Tokyo police and the Japan Financial Services Agency show up and take away Mark Karpeles in handcuffs.

[lano1106]

MtGOX BTC price is now below 300 USD.

Prior to their current problems, I could understand the price premium given the fact that withdrawing money from them is hard. BTC sellers were asking for more given the risk they were taking.

What is the rational behind the tanking BTC price? Panic? can people withdraw money from them?

If MtGox is the BTC buyer behind their volume, induced panic looks like a great way to make a quick buck on the back of their terrorized users selling theirs at a ridiculous price compared to other exchanges.

[infoman]

If I can make a wild guess, people would rather hold usd than btc so at least they can make legal action against gox when things go belly up.

so people sell btc to usd at all cost.

it is a good opportunity to double your btc (sold at 600 bought back at 300) and have a lot more btc on your account what you will never be able to have, niiiiiceeeeee!  (of course it was irony)

[User705]

Even if they ever do....it will be a race to the exits...and then collapse, withdrawals resuspended.

That assumes they aren't simply buying back the XBT they sold during run up that they never had and once finished they'll reopen and pretend nothing ever happened.

[infoman]

that would be awesome!

people would still empty up the accounts

[Nagle]

MtGOX BTC price is now below 300 USD.
What is the rationale behind the tanking BTC price?

That's a reasonable question. If you can't get USD or EUR or YEN or BTC out, the price is completely arbitrary.

If some people can get something other than BTC out, or Mt. Gox is trading for its own account, somebody is making money off this.

[superduh]

Even if they ever do....it will be a race to the exits...and then collapse, withdrawals resuspended.

seems like you have a vendetta with gox. obviously you're not a troll or a fudster but seems like you have negative faith in gox and make it quite clear

[infoman]

Even if they ever do....it will be a race to the exits...and then collapse, withdrawals resuspended.

seems like you have a vendetta with gox. obviously you're not a troll or a fudster but seems like you have negative faith in gox and make it quite clear

It is a genuine question, I am obviously a newbie compared to you superduh, but do you see a hope that gox will be back and trading again after all this crazy mess they made?

I have a few grand in btc sitting on my account and I gave up all hope it will ever reach my wallets.

[firecoin++]

I had fiat sitting in MtGox and just today I decided it might be a good idea to convert a substantial part of it to BTC. I still keep a part in fiat, just in case the price goes much lower and I want to buy more at a lower price.

You might ask if I'm sure that the price will go up again. No I'm not. And I really don't know what will happen. My gut feeling tells me my decision is right. Let's see.

[smoothie]

Even if they ever do....it will be a race to the exits...and then collapse, withdrawals resuspended.

That assumes they aren't simply buying back the XBT they sold during run up that they never had and once finished they'll reopen and pretend nothing ever happened.

Good luck to them. Remember just because MTGOXbtc is there in their database, doesn't mean it is accessible for them to actually buy at those $200-$300 prices.