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Author Topic: Who is selling BTC for $100 on Gox and why?  (Read 2001 times)
addictivegaming
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February 21, 2014, 07:50:10 AM
 #21

With all the shit going on, would you feel more comfortable with BTC in Gox or fiat in Gox?

You can take legal action if they mishandle one of those two things  Tongue

I think people are selling off their coins while they can for fear that Gox goes under with whatever they have in their accounts. At least with dollars there's a chance for recovery. You have to remember that the vast majority of Bitcoin owners have a collection of coins in the single digits. A lot of people with a few coins each man... it adds up.
I've heard this, but are you really 5.5 times more comfortable with GoxUSD than GoxBTC? You have to think that the odds of Gox failing and eventually paying back USD deposits is over 5.5 times the odds of them allowing BTC withdrawals again. The numbers just don't make sense to me, as I explained here.

If I had stuck funds, I'd totally be long GoxBTC at these prices. Just a 5% chance they allow BTC withdrawals likely has a much better EV than any liquidation scenario at 100 GoxUSD/BTC.
I agree completely. The only possible logical reason for not buying GoxBTC with GoxUSD right now is because you think the price is going to go even lower for GoxBTC (and plan on buying in later).

It's also possible that if Gox fails, they'll pay back a portion of both USD and BTC balances.

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Zarathustra
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February 21, 2014, 08:22:22 AM
 #22

One possibility is that the attackers weren't able to get the Bitcoins from their last round of theft off the exchange before MtGox shut down.  

Or on the ground of gox's notorious amateurish behavior the market priced in that there is a high probability that they lost the private keys of their wallets. Therefore they are able to show the coins to the customers, but not to send them.
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February 21, 2014, 08:55:56 AM
 #23

Its better than nothing! Cheesy
What is? Losing your cash or losing your BTC?  At least if they reopen withdrawls you will have BTC worth more.  It seems no win to sell on Gox now
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February 21, 2014, 09:05:40 AM
 #24

I have both fiat and coin in gox. I froze all my actions there. Don't know what to do. Will just sit this one out until I have clarity on things.
Not going to sell for 100$ ... but don't want to buy either. Truth is I want out of there both with coin and fiat.

you can. check out bitcoinbuilder.com

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