Mt. Gox - To resume withdrawals Feb 20th - New ATH approaching

[biafore]

Tokyo, Japan, February 17th, 2014!
"
Dear MtGox Customers,!
"
We apologize for the inconvenience caused by the recent suspension of external
bitcoin transfers. Fortunately, as we announced on Saturday we have now
implemented a solution that should enable withdrawals and mitigate any issues
caused by transaction malleability (please see our previous statements for
details on this issue). "
"
Thanks to our friends at Blockchain.info, MtGox now has a workaround that will
use a unique identifier created by Blockchain to show whether transactions have
been modified or not. This will prevent any fraudulent use of the malleability
issue and protect the assets of our customers. "
"
Resuming Withdrawals!
"
With this new system in place, MtGox should be able to resume withdrawals
soon. At the beginning we will do so at a moderated pace and with new daily/
monthly limits in place to prevent any problems with the new system and to take
into account current market conditions. "
"
In order to launch the new system, we are going through the following steps:"
"
-" Re-indexing the entire Blockchain (approx. 32 million entries)"
-" Fully deploying the new NTX ID"
-" Implementing a new bitcoin withdrawal queue that needs to be tested"
"
We will update everyone again by Thursday at the latest. "
"
Additionally, you may have noticed that we have added a new login system that
sends you an email when you successfully access your account. This is an
additional security layer, but as always we strongly encourage our customers to
use the 2-step authorization options available in our Security Center. "
"
Thank you again for your support, and we look forward to resume bitcoin
withdrawals as quickly as possible. "
"
Best regards,"
"
MtGox Team

[Boxman90]

Let me fix that for them.

With this new system in place, MtGox should be able to resume withdrawals soon™

[fonzie]

Let me fix that for them.

With this new system in place, MtGox should be able to resume withdrawals soon™

 

[TERA]

What does this have to do with an ATH?

[biafore]

What does this have to do with an ATH?

If you cant figure this out, you have no place in bitcoin trading.

[ShroomsKit_Disgrace]

What does this have to do with an ATH?

If you cant figure this out, you have no place in bitcoin trading.

Explain please.

[jamesc760]

I see it. To prevent people from massively withdrawing from mtgox, mtgox will again massively inflate its btc exchange rate.

Run along people, nothing new to see here.

[Tzupy]

What does this have to do with an ATH?

If you cant figure this out, you have no place in bitcoin trading.

TERA has more trading experience than many other posters here, don't insult him.
What will happen will be just MtGox price rising close to Bitstamp price, with some volatility.
There will be no new ATH until the current bubble deflates, a new one starts and eventually grows exponentially.

[Cyberlight]

What does this have to do with an ATH?

If you cant figure this out, you have no place in bitcoin trading.

TERA has more trading experience than many other posters here, don't insult him.
What will happen will be just MtGox price rising close to Bitstamp price, with some volatility.
There will be no new ATH until the current bubble deflates, a new one starts and eventually grows exponentially.

That says nothing at all .. Warren Buffet has even more trading experience.
According to him, bitcoin will fail .... he is wrong.

[Ekaros]

ATH on Mt. Gox?

Does it really matter... People will just withdraw their funds from them at any cost. Then the price will plummet.

[Dalmar]

ATH was reached due to hordes of Chinese gamblers and media hype. Both of them are gone. Keep it real.

[Miz4r]

What does this have to do with an ATH?

If you cant figure this out, you have no place in bitcoin trading.

TERA has more trading experience than many other posters here, don't insult him.
What will happen will be just MtGox price rising close to Bitstamp price, with some volatility.
There will be no new ATH until the current bubble deflates, a new one starts and eventually grows exponentially.

Where have we heard that one before? Oh yeah back in June 2013...

[DooMAD]

I'll post the same thing in this thread as I did in the other:

When they resume withdrawals it should be a mass exodus.  Take everything out, put nothing in.  Leave them to die before they do any further damage.

If your real world bank told you that you can't have your money, you'd dump their sorry arses in a heartbeat and move to another bank.  Why anyone would continue to trust these inept halfwits with their money is beyond my comprehension.

[sgbett]

Classic bitcoiner boom or bust mentality.

I think in truth it will be much more boring. At the point we return to 'business as usual' the gap between gox and other exchanges will just close naturally as arbatrigeurs get involved. depending on the volume at the respective exchanges will depend on whether its closer to the $350 of gox or the ~$650 elsewhere.

More than likely it will be in the middle somewhere around $500.

That will be about as exciting as it gets.

[biafore]

Classic bitcoiner boom or bust mentality.

I think in truth it will be much more boring. At the point we return to 'business as usual' the gap between gox and other exchanges will just close naturally as arbatrigeurs get involved. depending on the volume at the respective exchanges will depend on whether its closer to the $350 of gox or the ~$650 elsewhere.

More than likely it will be in the middle somewhere around $500.

That will be about as exciting as it gets.

+1 but you will admit that Gox is not goin anywhere with their customers BTC or Fiat?

[Beta-coiner1]

It is obviously guaranteed that if they do allow withdrawals again there will be a lot of people trying to buy BTC from Gox->Bitstamp to profit.I think the price will increase or stabilize around ~700 over next two weeks.

[Cyberlight]

ATH was reached due to hordes of Chinese gamblers and media hype. Both of them are gone. Keep it real.

Some quotes from this board (2013)

"we will never see $100 again"

Goodbye, triple digits. See you 2015.

I predict BTC/USD will fall to $2 by December 31,

Endless quotes with this pessimism....

With bitcoin, anything is possible... time will tell.

[sgbett]

Classic bitcoiner boom or bust mentality.

I think in truth it will be much more boring. At the point we return to 'business as usual' the gap between gox and other exchanges will just close naturally as arbatrigeurs get involved. depending on the volume at the respective exchanges will depend on whether its closer to the $350 of gox or the ~$650 elsewhere.

More than likely it will be in the middle somewhere around $500.

That will be about as exciting as it gets.

+1 but you will admit that Gox is not goin anywhere with their customers BTC or Fiat?

My personal opinion, again leans towards the mundane. Nothing 'bad' will happen, withdrawals will resume, business as usual.

It's not a popular opinion (see the recent sell off), but that's all I got

[fonzie]

It is obviously guaranteed that if they do allow withdrawals again there will be a lot of people trying to buy BTC from Gox->Bitstamp to profit.I think the price will increase or stabilize around ~700 over next two weeks.

Before withdrawls are allowed price will probably already match on other exchanges,just like sgbett said, i expect it anywhere around 350-500$.
This one in a lifetime arbitrage possibility is not going to happen, sorry. So far Gox cumstomers have never been rewarded for beeing on Gox and it surely won´t happen this time.

[sgbett]

It's been 72hours since I sent my urgent SEPA transfer (which guarantees same day from my bank - and shows same day when i do this to bitstamp) and it still isn't showing on my gox account. I'm inclined to agree that I will miss the window, and price will have normalised before I get chance to get a few discount coins.

ho hum.