udt89 (OP)
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February 16, 2014, 11:21:23 PM |
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How can their price be half of coinbase? Can you even create and account at mt gox to buy? If you can are you able to even send btc to coinbase?
I'm very confused by the difference in price. Is it a mt gox specific issue? Meaning they're probably going to shut down or be blacklisted by users?
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Sonny
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February 16, 2014, 11:27:10 PM |
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Can you even create and account at mt gox to buy? If you can are you able to even send btc to coinbase?
Yes, you can create an account and deposit your money to mtgox. But, you will not be able to withdraw your btc or usd easily lol. People have been waiting for their USD withdrawals for months, and now mtgox even stops btc withdrawals. Many people (incl. me) believe mtgox is dying already and I would suggest you to stay away from it. |
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kneim
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February 16, 2014, 11:41:48 PM |
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Until some weeks before the Mt.Gox BTC price was around 15% higher than on other exchanges. This was because fiat withdraw was restrained, but BTC withdraw worked fine.
Now both withdraws do not work. So in my opinion large players prefer to hold fiat, for having to explain their ownership more easy in a lawsuit. In the court it will be not easy to argue with Bitcoins and their intrinsic value.
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udt89 (OP)
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February 17, 2014, 01:40:28 AM |
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Is the sites structure broken? Or did they scam everyone?
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DanielVG
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I want free lunch, i'm gonna go with this guy.
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February 17, 2014, 01:47:22 AM |
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Stay away from MTGox for now.
Their software is not up to date and they were suffering from transaction malleability.
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Chemistry1988
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February 17, 2014, 01:56:47 AM |
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Time to forget mtgox and move on...
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thecoinminer
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February 17, 2014, 05:18:24 AM |
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I am new to bitcoin but I don't understand why would someone hold their bitcoin at an exchange like Mt. Gox vs. on a drive somewhere? What am I missing? Isn't this the type of situation cryptocurrency is meant to avoid (money held by banks, etc)?  Why would you risk storing your bitcoin at an exchange, is it simply a security thing? |
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Sonny
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February 17, 2014, 05:42:24 AM |
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I am new to bitcoin but I don't understand why would someone hold their bitcoin at an exchange like Mt. Gox vs. on a drive somewhere? What am I missing? Isn't this the type of situation cryptocurrency is meant to avoid (money held by banks, etc)? Why would you risk storing your bitcoin at an exchange, is it simply a security thing? You are right, bitcoin is designed to work decentralized. Some put their bitcoin in an exchange for day-trading. Some just consider it as an easy-to-use and easy-to-access wallet and ignore all the risks (site hacking, owner runs away with the money, etc).......until now.... |
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digitalninja81
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February 17, 2014, 07:09:46 AM |
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So how is Mt Gox different from any other exchange in that sense?
I mean, can't the same thing happen to any other exchange?
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Sonny
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February 17, 2014, 07:30:34 AM |
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So how is Mt Gox different from any other exchange in that sense?
I mean, can't the same thing happen to any other exchange?
Yes, so you shouldn't store your bitcoin on an exchange. What makes mtgox different is that, people have been experiencing all kinds of problem on it from time to time. For example, people have been waiting for months for their USD withdrawals already, and there has always been rumours that mtgox is close to insolvent... And recently, mtgox even stops btc withdrawals, and we have no idea how much mtgox has lost with those malled tx... |
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circusmidget11
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GOOD Dev
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February 17, 2014, 08:01:27 AM |
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That's the risk, which is why you should never leave all your eggs in one basket. It's unfortunate that there are crooked people out there that like to ruin things for everyone.
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achillez
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February 17, 2014, 11:10:02 AM |
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I am new to bitcoin but I don't understand why would someone hold their bitcoin at an exchange like Mt. Gox vs. on a drive somewhere? What am I missing? Isn't this the type of situation cryptocurrency is meant to avoid (money held by banks, etc)? Why would you risk storing your bitcoin at an exchange, is it simply a security thing? You are right, bitcoin is designed to work decentralized. Some put their bitcoin in an exchange for day-trading. Some just consider it as an easy-to-use and easy-to-access wallet and ignore all the risks (site hacking, owner runs away with the money, etc).......until now.... all will be noted in bitcoin history bro.. success story or failed story. Wait and see what mtgox do, but for now stay away is safe condition. *warning do not click link* redirect, unclear if virus |
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Truecoin
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February 17, 2014, 11:17:19 AM
Last edit: February 17, 2014, 11:46:01 AM by Truecoin |
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How can their price be half of coinbase? Can you even create and account at mt gox to buy? If you can are you able to even send btc to coinbase?
I'm very confused by the difference in price. Is it a mt gox specific issue? Meaning they're probably going to shut down or be blacklisted by users?
It is a kind of magic  |
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LiteCoinGuy
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In Satoshi I Trust
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February 17, 2014, 12:29:51 PM |
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Is the sites structure broken? Or did they scam everyone?
maybe a little of both. i would not sent anything there in these days. |
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DanielVG
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Activity: 266
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I want free lunch, i'm gonna go with this guy.
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February 17, 2014, 12:34:41 PM |
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I think the current generation of bitcoin users is trusting their money to much to online wallets.
In the end the most secure place for your money is in your own personal safe. (or in a high security bank safe, which don't exist yet for bitcoin although people treat online exchanges like big bitcoin banks, which they clearly are not)
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rohnearner
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February 17, 2014, 12:47:59 PM |
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I think the current generation of bitcoin users is trusting their money to much to online wallets.
In the end the most secure place for your money is in your own personal safe. (or in a high security bank safe, which don't exist yet for bitcoin although people treat online exchanges like big bitcoin banks, which they clearly are not)
Yeah we must get some secure safe online/offline wallet , we have to figure out some kind of solution. there is problem with keeping money in your own pocket that is not safe either , if its a large sum of money , nd keeping it in someone elses pocket is worst. so whats the solution.? |
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hilariousandco
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Join the world-leading crypto sportsbook NOW!
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February 17, 2014, 01:00:08 PM |
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How can their price be half of coinbase? Can you even create and account at mt gox to buy? If you can are you able to even send btc to coinbase?
I'm very confused by the difference in price. Is it a mt gox specific issue? Meaning they're probably going to shut down or be blacklisted by users?
Mt Gox runs a shoddy business that's why. It's very possible that Gox could go under. It's also possible a lot of people wont ever get their money and/or coins back. |
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jkljb
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February 17, 2014, 04:26:02 PM |
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Gox Is no SCAM, BTCs is probally stolen for the site, so the price was high to join the low liquidity...
This was caused by a failure in the system only site, but this company is sloppy, wait until they recover from the failure .... this can make the price take off again ...
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guybrushthreepwood
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February 17, 2014, 04:43:18 PM |
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Gox Is no SCAM, BTCs is probally stolen for the site, so the price was high to join the low liquidity...
This was caused by a failure in the system only site, but this company is sloppy, wait until they recover from the failure .... this can make the price take off again ...
Well if that was the case not telling people about it is just as bad. |
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