Nagle (OP)
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Activity: 1204
Merit: 1000
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February 16, 2014, 09:25:27 PM |
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So what happens on Monday morning? (A common phrase on Wall Street.)
Well, Bitstamp is back up, doing Bitcoin withdrawals as usual. The market has already recognized this; Coinbase and Bitstamp are back in sync, and BTC-E is trailing a bit. LocalBitcoins has a big bid/ask spread, but it's centered around the Bitstamp price, currently 610. (Note that the LocalBitcoins price on bitcoincharts.com (a Mt. Gox service) is wrong.) So the markets are back to normal, slightly lower than a week ago.
Except, of course, for Mt. Gox. Customers can't get anything out, so the price is a speculation on whether Mt. Gox will ever resume withdrawals of anything.
What's different this time is that the mess last week made headlines in the business press all over the world as a finance story. Not a tech story. Not a weird story. Bitcoin is now taken seriously by the financial press. Bitcoin is now being looked at like any other investment.
This doesn't mean Bitcoin is a success. It just means it's another financial product, judged on that basis. Risk, return, management competence, financial statements, the usual. Amateur hour is over. Expect more press scrutiny of Bitcoin as a financial product.
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"Governments are good at cutting off the heads of a centrally
controlled
networks like Napster, but pure P2P networks like Gnutella and Tor seem
to be holding their own." -- Satoshi
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hjbuell
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Activity: 70
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Writer $0.10/word +
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February 16, 2014, 09:33:44 PM |
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Solid observation. +1.
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Being different is all it takes to make a difference. H. J. Buell Writer from $0.10 per word. https://hjbuell.com |
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Meuh6879
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Activity: 1512
Merit: 1011
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February 16, 2014, 09:35:14 PM |
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bitcoin need cash.
if "all bank account" transfer money on bitcoin ... more business install a android phone to pay with bitcoin QR-code.
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MakeBelieve
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February 16, 2014, 09:35:54 PM |
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Maybe it doesn't mean Bitcoin was a success overall but it was a success this time around as it did recover and no real damage was done.
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On a mission to make Bitcointalk.org Marketplace a safer place to Buy/Sell/Trade
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CiaIgle
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Activity: 9
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February 16, 2014, 09:52:09 PM |
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Interesting thinking
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BitcoinSteve
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Activity: 112
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February 16, 2014, 10:02:51 PM |
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$100 btc
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DRK: XtijFQdCcPpKXmtjKF4xdpy6vCvJTymfzw
BTC: 1LbPHiUfegA3Xjfg4YJkJqLNpaRWDcRPay
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KJO
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February 16, 2014, 10:09:10 PM |
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$100 btc
I can only hope so. |
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smoothie
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Activity: 2492
Merit: 1473
LEALANA Bitcoin Grim Reaper
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February 16, 2014, 10:15:28 PM |
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The fact that Bitstamp has already resumed all withdrawal options and MTGOX hasn't shows us that MTGOX is indeed insolvent.
Dont be surprised if they choose to delay or perhaps let you withdraw 5 BTC every 3 days or something like that.
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██████ ▐▓▓▓▓▌, ▄█▓▓▓▌ ██████─
▐▓▓▓▓▓▓█,,▄▓▓▓▓▓▓▌
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²▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓╩
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███████████████████████████████████████
| . ★☆ WWW.LEALANA.COM My PGP fingerprint is A764D833. History of Monero development Visualization ★☆ .
LEALANA BITCOIN GRIM REAPER SILVER COINS.
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sickpig
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Activity: 1260
Merit: 1008
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February 16, 2014, 10:17:09 PM |
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$100 btc
sure, you're right. we forgot that maybe you were off by a week.... |
Bitcoin is a participatory system which ought to respect the right of self determinism of all of its users - Gregory Maxwell.
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mysidia
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Activity: 93
Merit: 10
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February 16, 2014, 11:57:45 PM |
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The fact that Bitstamp has already resumed all withdrawal options and MTGOX hasn't shows us that MTGOX is indeed insolvent.
Insolvent, or inept compared to the others, at fixing things expeditiously? Their delays and constant problems of course cast doubt on their solvency and future viability as an exchange. It is certainly no proof that MtGox is insolvent. But yes... it may be in the worst case that they halt withdrawals indefinitely, and those waiting to withdraw are left holding the bag until some indefinite date in the future that might or might not ever come. |
BTC: 1FbuJxZCeJUqrP7EpUkgMKWAmAA1M8gUBd
LTC: LbvomgbwKnqk47mWzALCDEoV8ydjxYYYpF
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indiekiduk
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Activity: 27
Merit: 0
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February 17, 2014, 12:23:12 AM |
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Monday morning preview: Rumours of insolvency debunked ( ref) Withdrawals enabled ( ref) Price on gox sky rockets (you have to buy BTC on gox to transfer out) Price on other exchanges crash (you have to sell on other exchanges to get your money out of bitcoin) |
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roslinpl
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Activity: 2212
Merit: 1199
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February 17, 2014, 12:32:58 AM |
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The fact that Bitstamp has already resumed all withdrawal options and MTGOX hasn't shows us that MTGOX is indeed insolvent.
Dont be surprised if they choose to delay or perhaps let you withdraw 5 BTC every 3 days or something like that.
Yep absolutly right. Better stay away from MtGox  and wait till your money will be possible to withdraw. |
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proudhon
Legendary
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Activity: 2198
Merit: 1311
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February 17, 2014, 12:34:31 AM |
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So what happens on Monday morning? (A common phrase on Wall Street.)
Well, Bitstamp is back up, doing Bitcoin withdrawals as usual. The market has already recognized this; Coinbase and Bitstamp are back in sync, and BTC-E is trailing a bit. LocalBitcoins has a big bid/ask spread, but it's centered around the Bitstamp price, currently 610. (Note that the LocalBitcoins price on bitcoincharts.com (a Mt. Gox service) is wrong.) So the markets are back to normal, slightly lower than a week ago.
Except, of course, for Mt. Gox. Customers can't get anything out, so the price is a speculation on whether Mt. Gox will ever resume withdrawals of anything.
What's different this time is that the mess last week made headlines in the business press all over the world as a finance story. Not a tech story. Not a weird story. Bitcoin is now taken seriously by the financial press. Bitcoin is now being looked at like any other investment.
This doesn't mean Bitcoin is a success. It just means it's another financial product, judged on that basis. Risk, return, management competence, financial statements, the usual. Amateur hour is over. Expect more press scrutiny of Bitcoin as a financial product.
Nagle, sup brother?!  |
Bitcoin Fact: the price of bitcoin will not be greater than $70k for more than 25 consecutive days at any point in the rest of recorded human history.
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