any advice -- I have 50% coins and 50% USD in MTGOX now ????

[invisiblefriend]

  

my friends

I know --- its all up in the air

I have been with mtgox since I bought my first coin for $4.03      ---     up and down …….   but always used to trust mtgox   ( but now … hmmmm)

I now have coins in the mtgox account ---
but I also have about 4k waiting around in account --- I had a drop more earlier in the week and purchased some coins between 230 $ and 399 $--
now I'm left with the coins and the 4k

im worried enough about everything especially with mtgox but …


should I buy while it is so low ?      use all that cash ?

i believe in the bitcoinn hope mtgox will come back    

but should i risk that last 4k -- or hold and wait ?

anything to do with coins to feel safe


thx 4 any advice   

peace n respect my friends

[1715118705]

1715118705

[hostmaster]

The biggest risk is taking no risk dude!

[EchoingUprise]

More than likely withdrawals will come back eventually. Now whether Mt Gox will actually recover price and trading volume wise, probably not. They have been declining in market share of trades for a while now, but this is probably what will end them. I do not think people can trust them anymore, and will not in the future. Many places removed reference to Mt Gox, and probably will not add it back even once Mt Gox is back up working 100%.

[DGulari]

The biggest risk is taking no risk dude!

Gox is toast.  I hear people are now pronouncing it: "Empty Gox" (i.e. 'M', 't' 'Gox')  Toasted toast.  Kiss those coins goodbye - they are never coming back.  Start over with some of the new bitcoin 2.0 projects like ethereum, NXT, counterparty.  

[invisiblefriend]

i have gotten this far with risks -- and it worked great -- except the 2 times I really really should have bought n sold -- but i held steady ---

this time I'm a drop nervous about mtgox closing ? -- but i imagine not yet !   -- i actually hope they bounce back -- they have always done gr8 by me !

but now that i can grab a bunch of coins at 250 ?    ----          could it really lose it all n go back to the old days ?   i cannot imagine - unless something else is really behind this all  ……

could be a good move ?

what are others doing out there ?


anyone else sharing there moves right now ?

respect n the best to all


thk u

[grifferz]

In return for bitcointalk advice do you pledge, once your current issues have played out, to never use MtGox again—even if the issue plays out in your favour?

[erik777]

Ironically, I just posted what I would do in that situation right before reading this post.  

Read the last sentence in my post, then read the thread if you want to understand why.  

EDIT: Corrected link.  Originally linked to wrong post.  

[BittBurger]

I would carefully, carefully monitor the declining price, and be ready - literally with your finger on the trigger - to buy when your gut tells you it can't go any lower.

If it were me?  Tough call.  I honestly would probably wait another 2-3 days then buy at whatever price its at. 

Keep in mind, you are getting an insane discount even if you purchased right now.   I do believe its 100% guaranteed return on investment. 

Actually, I have proof of that.  Buy a coin now on Gox, move it to Bitstamp, and sell it for 2-3 times as much.

-B-

[btbrae]

Buy the cheap coins, it's so late in the day now that if Mtgox can't fulfil it's BTC obligations then it is most likely running out of fiat and you will be at the back of the queue. Ie. if they are insolvent you are stuffed either way.

[invisiblefriend]

thx 4 your thoughts --- DGulari…..



but mtgox has been at the top n will not just drop out yet ? ---
n that won't be good for anyone even the other coins in the future -- the huge loss will not be 4gotten if it disappears  --- mtgox is at least open and in public --

positive thinking ---



GRIFFERS     (  I PROMISE !!!!!!!!!!  )  

[invisiblefriend]

ERIK777       thx 4 advice n info about mtgox ..



i didn't see the post about what you would do ?         did i miss it ?

thk u my friend

[grifferz]

Keep in mind, you are getting an insane discount even if you purchased right now.   I do believe its 100% guaranteed return on investment.  

Actually, I have proof of that.  Buy a coin now on Gox, move it to Bitstamp, and sell it for 2-3 times as much.

Problem is, you cannot today withdraw BTC. So you do not have proof of that. Unless you are saying you have proof that MtGox is going to enable withdrawal some time soon. In which case please show us this proof.

(Anything they might say they plan to do can't really be considered proof, unfortunately, so it is hard to imagine what would constitute proof of such a claim)

[bananas]

If your money is already there, there is no reason to not buy.

[keithers]

Buy as many as you can at that low price since your money is there. Better chance of withdrawing btc than USD anyway.

[grifferz]

If I had fiat in MtGox then my obvious concerns would be:

• If I convert to BTC, maybe MtGox admits it is BTC-insolvent and runs away with all remaining BTC, and authorities alternately ignore and laugh at me for my loss of magic Internet money.
• If I convert to fiat, maybe MtGox admits it is fiat-insolvent and as I am not a resident of Japan it proves practically impossible for me to get any legal remedy without throwing away more money on private prosecution.
  
  • Even if not fiat-insolvent, MtGox may continue to suspend fiat withdrawals indefinitely as this has been going on for months/years already anyway.

So, since it seems a lot more likely that MtGox will resume BTC withdrawals before it will resume fiat withdrawals, I personally would consider it a no-brainer to buy GoxBTC and hope for that. But resign myself to losing the lot as a worst case.

And then I'd say 1,000 Hail Satoshis and never log in to MtGox again.

[WesandEAC]

Having a US dollar balance will get you nothing my friend hahaha.  You must assume if Gox allows withdrawals you will be able to get $600 currently, so it is a no brainer to buy up every penny of USD balance you have.

If gox does not allow withdrawals your USD is gone anyway and they have lied.  So in my opinion there has never been a RISK free moment like this ever.  I can not admit on these boards how many BTC I have although I will tell you I have $78 USD in my account  My buying is complete and now I wait for $0 or release.  I would have never risked this much had I not realized it was probably all gone anyway, so like i said, nothing to lose.  If withdrawals are again instated, I personally would stay with Gox.  This is the growing pains of an experiment.

[WesandEAC]

Yes my plan if i was Mark wouuld be to instate BTC withdrawals and end fiat withdrawals.  Thus DRIVING the price sky high!  I am expecting $0 or $1000, nothing in between here.

[rograz]

Why people think gox usd is more valuable than gox BTC boggles my mind at this point, if gox shuts down very few people will see a single cent of their gox usd. However if they enable BTC withdraws there will be a run for the door that will look like nothing we have ever seen so far, price will spike 100-200% since it will be a race to get out before the hot wallet runs dry.

With everyone so convinced that gox is insolvent there simply are only 2 scenarios that will play out in my eyes.

1. Gox shuts down, any gox funds btc or dollars are pretty much useless unless you are a LARGE holder of USD that can take proper legal action.

2. Gox enables withdraws and since everyone is so convinced that they are insolvent there will be a buying frenzy to get out before the house of cards collapses. Hot wallet will be emptied at the speed the trade engine can process purchases, with their history of engine lag I wouldn't be surprised to see a "reverse crash" of the price.

 

[smoothie]

It really doesnt matter due to the fact that no one really knows what MTGOX will pull out of their back side to "appease" the masses.

A bank run on them is imminent. If they allow withdrawals they would collapse.

So maybe they can allow X amount of bitcoin to be withdrawn per day and no more.

Sounds like a traditional bank....BROKEN.

[boumalo]

Gox definitely lost their credibility; if you have money or btc in gox and you think they are going to shut down, instead of selling your btc at 300$ on gox you would make more by selling them to someone in exchange of real btc, you can more or so get 7BTC for 10gox last time I checked (it varies a lot)