dynodog (OP)
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Activity: 97
Merit: 10
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February 20, 2014, 05:41:12 PM |
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When EVERYONE is saying hold or buy (or even send in money now and buy) on mtgox, something is wrong. When everyone takes on one side, that position is usually a loser. Obviously, there are people who are selling - bids are getting hit repeatedly (and this has been going on for some time). These sellers know something to continue to sell even at these discount prices - they would rather have some cash vs. bitcoin which is valued at 4X the price on other exchanges, even though you can't get cash out either! A conundrum to be sure. I am getting the distinct feeling that us little guys in the dark are going to get whacked.
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evolve
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February 20, 2014, 05:46:29 PM |
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It all depends on what you think the outcome will be with Gox.
If you think Gox is insolvent/will declare bankruptcy you are better off selling, because it may be easier to get the money back in a lawsuit if your balance is in actual money.
However, if you believe Gox will allow withdrawals again and go back to business as usual, you should buy or trade.
If you cant decide, you are best off just holding.
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wobber
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Activity: 1064
Merit: 1001
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February 20, 2014, 05:47:48 PM |
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It all depends on what you think the outcome will be with Gox.
If you think Gox is insolvent/will declare bankruptcy you are better off selling, because it may be easier to get the money back in a lawsuit if your balance is in actual money.
However, if you believe Gox will allow withdrawals again and go back to business as usual, you should buy, trade, or hold.
Very hard to choose... I wonder how many people are stuck with Gox. |
If you hate me, you can spam me here: 19wdQNKjnATkgXvpzmSrkSYhJtuJWb8mKs
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dust
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February 20, 2014, 05:50:43 PM |
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It's 2014, bitcoin has gone a long way towards being legally considered money. I for one will fight in bankruptcy court to treat BTC and USD creditors equally.
It is ridiculous that people think USD they can't get out is 5x as valuable as BTC they can't get out.
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bitcon
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Activity: 2212
Merit: 1008
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February 20, 2014, 05:51:24 PM |
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who knows whats going on behind the scenes at gox. if gox even has any coins / solvent. i dont trust them as far as i can throw them
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MatTheCat
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February 20, 2014, 05:53:31 PM |
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When EVERYONE is saying hold or buy (or even send in money now and buy) on mtgox, something is wrong. When everyone takes on one side, that position is usually a loser. Obviously, there are people who are selling - bids are getting hit repeatedly (and this has been going on for some time). These sellers know something to continue to sell even at these discount prices - they would rather have some cash vs. bitcoin which is valued at 4X the price on other exchanges, even though you can't get cash out either! A conundrum to be sure. I am getting the distinct feeling that us little guys in the dark are going to get whacked.
I would have screamed SELL SELL SELL at any holder of BTC on Gox quite some time ago. Now, I would be inclined to suggest that they have already taken such a kicking, that if they are still holding BTC, they might as well hold out on a all or nothing basis. Cashing out now is like the difference between opting for a 5-1 defeat instead of gambling with the likelihood of a 6-0, defeat, but with the outside chance of a 5-5 draw. However, I don't have the misfortune of having money stuck on Gox and pushed and pressed my brother to get the few K he had on Gox, out, just a couple of weeks before all the shit started to happen. I would imagine that there must be some very delirious manic people trapped on Gox right now. A lot of them will have been early adopters and 'believers' in Bitcoin, who may not have had much to begin with, but have experienced a short phase of being extraordinarily wealthy, only to see it all evaporate before their eyes. If I was one of them, perhaps I would want something in USD just in order to be in a tenable position to be behind a law suit against Karpeles. |
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evolve
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February 20, 2014, 05:53:58 PM |
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I wonder how many people are stuck with Gox.
My entire balance is in gox. Luckily, its just play money (a couple BTC and around $150) so its not the end of the world if I lose it. Personally, I believe Gox is going to go insolvent, but since I dont have enough money in there to be worth recovering in a lawsuit, I am actively trading on the off chance withdrawals are allowed again. |
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GeniuSxBoY
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February 20, 2014, 05:55:16 PM |
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These sellers know something to continue to sell even at these discount prices Assuming makes an ass out of you. If I were to sell right now out of fear, you'd still say that I'm selling because I know insider information. |
Be humble!
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wobber
Legendary
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Activity: 1064
Merit: 1001
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February 20, 2014, 05:56:06 PM |
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I wonder how many people are stuck with Gox.
My entire balance is in gox. Luckily, its just play money (a couple BTC and around $150) so its not the end of the world if I lose it. Personally, I believe Gox is going to go insolvent, but I since dont have enough money in there to be worth recovering in a lawsuit, I am actively trading on the off chance withdrawals are allowed again. I would fight them for every single bitcoin. Do it. One bitcoin is more valuable than you think. |
If you hate me, you can spam me here: 19wdQNKjnATkgXvpzmSrkSYhJtuJWb8mKs
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koryu
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February 20, 2014, 05:58:19 PM |
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i am sorry for everybody who has fiat or btc stuck on gox. here are a lot of people trolling but actally its a bad situation for those who lost or will lose anything there at the moment.
personally if i had fiat/btc on gox i would go half btc / half fiat because i see the chances that you can ever withdraw btc on gox again at 50%.
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epetroel
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February 20, 2014, 06:24:02 PM |
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I have about 22 BTC there. It's a gamble that they'll come back, but I'm HODLing for now.
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boumalo
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Activity: 1904
Merit: 1018
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February 20, 2014, 08:02:04 PM |
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Ah, that explains why goxUSD are better than goxBTC Yes that and the fact that you may be able to withdraw usd easily than btc now but it would still be better to sell here https://bitcoinbuilder.com/ if you had gox than to sell your gox at 111$ to hope for a legal resolution in case gox closes A lot of the persons that are thinking about a legal battle probably sold at way more than 111$ and they are not buying back |
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