MTgox Prices Update - PLUS mtgox POLL

[greatdn]

After one day of trading the price has gone up and right back down again.  Not a good sign for mtgox

[raskul]

After one day of trading the price has gone up and right back down again.  Not a good sign for mtgox

not a good sign for them, but surely it was to be expected?

[davidpbrown]

WRONG.

Writing in capitals doesn't make you more right!

Your point is an obvious one; I was talking relative to what most people interested in Bitcoin want to see, which is the overall action and function of exchanges moving fiat into Bitcoin. We should want to see MtGox and any other thrive. That then in the spirit of wanting to see Bitcoin market cap expand to its full potential - an inwards flow. Naturally having an option for move back into fiat, is necessarily evil for new merchants and those of a nervous disposition.

[alfabitcoin]

The function of an exchange is a simple one, moving fiat into Bitcoin. There is no issue for most users about which exchange is used to buy Bitcoins, there's no requirement that they are loyal to the exchange as it is unlikely to be needed again; it's just a necessary hoop that we jump to get into BTC.

Now they are just a place where you can trade IOUs for IOUs.

IOU for YOM (you owe me) maybe this is better