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

[chesthing]

It would take a lot of balls to continue accepting cash deposits for people to buy bitcoin only to come out later and say "Ooops, we're broke - me so sorry."

Or a complete lack of ethics.

[windjc]

It would take a lot of balls to continue accepting cash deposits for people to buy bitcoin only to come out later and say "Ooops, we're broke - me so sorry."

Or a complete lack of ethics.

What he is saying is that it would take a lot of balls because its illegal. It is illegal to continue trading operations if you are insolvent. Which means, if Gox is insolvent, Mark is probably going to jail.

The fact that Mark said Gox has been in touch with authorities and they have been told they are operating within the law means that I am betting they are not insolvent. Mark is in Japan, not Ecuador. Not so easy to hide.

[404notfound]

Does the legal precedent apply to bitcoin exchanges also or only to regular currency/stock exchanges? What if he's legally able to operate an insolvent exchange because there's little regulation currently on bitcoin.

[Money Raccoon]

Hi guys,

Just wondering, does anyone know what time Gox tends to post announcements? If so, please stating your time zone.

Thanks

[TERA]

Hi guys,

Just wondering, does anyone know what time Gox tends to post announcements? If so, please stating your time zone.

Thanks

I think the last gox announcement was roughly 4 in the morning in U.S. (EST) or 6PM in Japan. Someone correct me if I am wrong.

Gox is goxxing my sleep now.

[Dalmar]

Hi guys,

Just wondering, does anyone know what time Gox tends to post announcements? If so, please stating your time zone.

Thanks

Feb 17 - ''soon'' - 11:25 GMT
Feb 10 - ''malleability'' - 11:49 GMT

https://twitter.com/mtgoxalerts

[cr1776]

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...

And in 2012 and in 2011 and near the end(?) of 2010.  ;-) 

Although once the uncertainty regarding Gox is gone, things will pick up.  Given the FUD and BS being spewed from Gox about bitcoin, their freezes etc, and the resulting turmoil and price drop at Gox, the price of bitcoin held up and showed its strength. 

[cr1776]

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.

+1.  If people continue to use Gox they are just ignoring the reality that Gox is inept.  Of course everyone who was paying attention should have seen the Gox issues all the way through 2013.

[biafore]

Mt. Gox Withdrawals coming tonight U.S. time. you heard it first

[sgbett]

money has finally reached gox account - picked up a few coins at €220. left a bit lying around in case we go further down... now we wait.

€220! So around $300? Seems to be top of the market on Gox for the time being but a pretty good trade if you can actually get them off the place. If you succeed, then u know you got to arbitrage these coins though don't you? Otherwise you may end up taking this risk for no good reason if the bear market progresses to grind its way further down (which I am sure it will give or take the odd bit of whipsawing action). If more Bitcoin is your aim, then you know that if you sell at $630 or whatever, you will get the chance to buy back on the next test of $540......whether this support holds or falls is another matter but it there is absolutely nothing in the charts that suggests that it won't be revisited.

Yeah just bought with half my cash when it got there. Then stuck the rest in some limit orders all the way down.

It all boils down to if I can ever get them out. If I can though they'll just go into the 'hold' so to speak I'm not looking to flip quick for fiat profits. Just wanted to take a bite of opportunity pie.

In any case I think that if gox did open its doors, I'd be the guy at the back snoozing whilst everyone else closed the arg gap before I even woke up

[Tirapon]

money has finally reached gox account - picked up a few coins at €220. left a bit lying around in case we go further down... now we wait.

€220! So around $300? Seems to be top of the market on Gox for the time being but a pretty good trade if you can actually get them off the place. If you succeed, then u know you got to arbitrage these coins though don't you? Otherwise you may end up taking this risk for no good reason if the bear market progresses to grind its way further down (which I am sure it will give or take the odd bit of whipsawing action). If more Bitcoin is your aim, then you know that if you sell at $630 or whatever, you will get the chance to buy back on the next test of $540......whether this support holds or falls is another matter but it there is absolutely nothing in the charts that suggests that it won't be revisited.

Yeah just bought with half my cash when it got there. Then stuck the rest in some limit orders all the way down.

It all boils down to if I can ever get them out. If I can though they'll just go into the 'hold' so to speak I'm not looking to flip quick for fiat profits. Just wanted to take a bite of opportunity pie.

In any case I think that if gox did open its doors, I'd be the guy at the back snoozing whilst everyone else closed the arg gap before I even woke up

I think its a pretty good bet you're making. Better than your last one hopefully 

[sir faps]

Mt. Gox Withdrawals coming tonight U.S. time. you heard it first

I think a lot of people heard it before I did, actually 

[biafore]

Mt. Gox Withdrawals coming tonight U.S. time. you heard it first

I think a lot of people heard it before I did, actually 

A huge rise is coming, All coins rite now are cheap coins.

[MatTheCat]

In any case I think that if gox did open its doors, I'd be the guy at the back snoozing whilst everyone else closed the arg gap before I even woke up

True.

In all likelihood, there are already high risk taking Gox arbitragers who have Bitcoins lined up on Stamp, ready to be arbitraged the moment that transactions out of Gox are enabled.

One would have to get his bot wired into it's exchange front running privileges out damn early in the morning to beat these motherfuckers to the most lucrative arbitrage prices.

[MAbtc]

The fact that Mark said Gox has been in touch with authorities and they have been told they are operating within the law means that I am betting they are not insolvent. Mark is in Japan, not Ecuador. Not so easy to hide.

"Karpeles repeatedly said the company's solvency was confidential but that it had discussed its business model with Japanese authorities 'to ensure that we are operating within the law here'" -- is this what you are referring to?

It says nothing about the present circumstance, or present dealings with regulators. If Gox is insolvent, that wouldn't mean its "business model" was illegal.

[biafore]

Everything will be settled tonight!

[fonzie]

Everyone will get burned hard!

[YoYa]

Everyone will get burned hard!

You're just jealous you won't get to be a BTCvictim 

[windjc]

The fact that Mark said Gox has been in touch with authorities and they have been told they are operating within the law means that I am betting they are not insolvent. Mark is in Japan, not Ecuador. Not so easy to hide.

"Karpeles repeatedly said the company's solvency was confidential but that it had discussed its business model with Japanese authorities 'to ensure that we are operating within the law here'" -- is this what you are referring to?

It says nothing about the present circumstance, or present dealings with regulators. If Gox is insolvent, that wouldn't mean its "business model" was illegal.

It is illegal to continue to operate trading exchanges if you are insolvent. So, by doing so, Marky K is putting his ass on the line for jail time.

This fact, along with the opinions of Andreas and Roger, make me 85%+ sure that Gox is solvent.

Unlike the gambler mentality that caused the owners of FullTilt and other poker rooms to throw all their money away, I personally do not think Mark is type of personality. I think he is just a general moron.

[Cyberlight]

Everyone will get burned hard!