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Author Topic: Why is the Gox exchange rate lower than other exchanges?  (Read 726 times)
davidgdg
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February 16, 2014, 04:45:13 PM
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Given that you cannot withdraw Gox coins or Gox dollars, why should the holders of Gox coins prefer to hold Gox dollars? I don't get it.

"There is only one thing that is seriously morally wrong with the world, and that is politics. By 'politics' I mean all that, and only what, involves the State." Jan Lester "Escape from Leviathan"
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BitcoinAshley
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February 16, 2014, 04:59:58 PM
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The likely answer is that there is some question as to whether Gox actually has the bitcoins they say they do (there is suspicion that a large amount were stolen) and so some traders feel that Gox is more likely to do fractional-reserve bitcoins than fractional-reserve GoxBux.

Time will tell! They might be wrong. They might be right.
knightcoin
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February 16, 2014, 05:03:36 PM
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Trust .. in the end of the day that's what business is all about ... if you are a customer you expect a good product quality, delivery on time, warrant, etc.. etc.. if you are business you also would like to be properly reward for the goods and services you are selling etc ... just like everywhere you go you will see example about how to not run a business like butterfly, mtgox, etc ... and good example like blockchain.info, Casascius etc .. that's why nowdays reviews are very important way of marketing ( we all know that are kind of blackmarketfor that as well  Embarrassed ) ... but that's it ... that's why I really believe that transparency and honesty is important to business ...

http://www.introversion.co.uk/
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davidgdg
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February 16, 2014, 05:05:02 PM
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The likely answer is that there is some question as to whether Gox actually has the bitcoins they say they do (there is suspicion that a large amount were stolen) and so some traders feel that Gox is more likely to do fractional-reserve bitcoins than fractional-reserve GoxBux.

Time will tell! They might be wrong. They might be right.

I don't think there is any question of "fractional-reserve". Gox does not lend. But I see what you mean in terms of what is more likely to have been stolen.  

"There is only one thing that is seriously morally wrong with the world, and that is politics. By 'politics' I mean all that, and only what, involves the State." Jan Lester "Escape from Leviathan"
Ibian
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February 16, 2014, 05:26:42 PM
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The likely answer is that there is some question as to whether Gox actually has the bitcoins they say they do (there is suspicion that a large amount were stolen) and so some traders feel that Gox is more likely to do fractional-reserve bitcoins than fractional-reserve GoxBux.

Time will tell! They might be wrong. They might be right.

I don't think there is any question of "fractional-reserve". Gox does not lend. But I see what you mean in terms of what is more likely to have been stolen.  
That's not what it means. It means they might be pretending to have more coins than they actually do. This works as long as everyone don't withdraw their funds all at once.

Look inside yourself, and you will see that you are the bubble.
Hfertig
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February 16, 2014, 06:52:45 PM
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Given that you cannot withdraw Gox coins or Gox dollars, why should the holders of Gox coins prefer to hold Gox dollars? I don't get it.

Because MTGox shows the fair value of Bitcoin ? All other exchanges are still inflated by greedy people hoping to become rich....
Ibian
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February 16, 2014, 06:59:42 PM
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Given that you cannot withdraw Gox coins or Gox dollars, why should the holders of Gox coins prefer to hold Gox dollars? I don't get it.

Because MTGox shows the fair value of Bitcoin ? All other exchanges are still inflated by greedy people hoping to become rich....
No, that would be yourself you are thinking of. If you had no interest in bitcoin you wouldn't be here. You have an agenda of some sort that involves driving the price down. Same ol same ol.

Look inside yourself, and you will see that you are the bubble.
gambitx
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February 16, 2014, 08:21:55 PM
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Heeeeeellllllllllpppppppppppp
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