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Author Topic: OMG! How the hell can I lay my hands on some of these $110 bitcoins, speculate?  (Read 1839 times)
ScrapOfCat
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February 21, 2014, 06:36:45 AM
 #1

I'm grinding my teeth here.

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CryptoFuture
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February 21, 2014, 06:41:43 AM
 #2

1) send fiat to gox and buy bitcoins
2) never see those bitcoins again.
3) ? ? ?
4) profit.

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February 21, 2014, 06:45:21 AM
 #3

Thank you for the response, but your plan sucks.

Anyone else?

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February 21, 2014, 06:49:23 AM
 #4

Thank you for the response, but your plan sucks.

Anyone else?

Ok a real answer is to use https://www.bitcoinbuilder.com/

Using this you can trade real BTC for gox BTC. In the hope that gox will allow withdrawals and the price will return to 'normal'

One GoxBTC is currently 0.3412 real BTC, which is worth the risk if you don't see gox as failing nor do you need access to your coins any time soon.

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February 21, 2014, 06:57:45 AM
 #5

1) send fiat to gox and buy bitcoins
2) never see those bitcoins again.
3) ? ? ?
4) profit.

Thank you for the underpants gnomes reference, i needed the lol
ScrapOfCat
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February 21, 2014, 06:58:23 AM
 #6

thanks for your post. 

I've actually been looking at that site all day.

What I mean is, does anyone in the rest of the world actually have access to those now $100 bitcoins, or are the owners of MTGox the only people on the face of the Earth that can actually buy for that price?

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February 21, 2014, 07:00:56 AM
 #7

thanks for your post. 

I've actually been looking at that site all day.

What I mean is, does anyone in the rest of the world actually have access to those now $100 bitcoins, or are the owners of MTGox the only people on the face of the Earth that can actually buy for that price?

Anyone with FIAT in gox can buy those $100 bitcoins. So you can also do a deposit to gox to buy them, although I believe this takes a few days to go through. The problem is no one can withdraw them (except mtgox i suppose).

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February 21, 2014, 07:08:57 AM
 #8

OK, I agree with you.  I have money, and  I won't post the take my money GIF, but I guess I'm not getting my point across.   If $110 bitcoins are available, then why won't someone agree to sell me several of them right now?

































OK, I lied:


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February 21, 2014, 07:21:23 AM
 #9

yay cheap goxcoins

If you like my post please feel free to give me some positive rep https://bitcointalk.org/index.php?action=trust;u=18639
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February 21, 2014, 07:22:35 AM
 #10

OK, I agree with you.  I have money, and  I won't post the take my money GIF, but I guess I'm not getting my point across.   If $110 bitcoins are available, then why won't someone agree to sell me several of them right now?

OK, I lied:

http://i57.tinypic.com/2a9vcc1.jpg

If I could trust your fiat payment method to be irreversible (which I couldn't, except for cash in the mail, and I will accept none of the risk for such an attempt), I would sell you up to 1 GoxBTC for $400, deliverable when withdraws resume.  However, the last price on Gox only matters if you have money on Gox so long as withdrawals are down.  As for me, my gox liquidity bot is still running, but the order size is just a couple bucks and I'm down to 2 digits of fiat.  Just waiting for things to straighten out, or fail completely.  Picking up pennies in front of a steam roller, praying for it to stop because there is no other way out of this corner.

https://www.bitcoin.org/bitcoin.pdf
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February 21, 2014, 07:28:07 AM
 #11

ooch!  Hold tight man.

I'm not looking for $400 coins, or $500 coins.

In truth, the reason I posted this is just to point out that $100 GoxCoins are pure fantasy.  The only people on the face of the earth that can buy them are within the Goxsphere.  And only MK and his minions can get them out.

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February 21, 2014, 07:28:59 AM
 #12

thanks for your post.  

I've actually been looking at that site all day.

What I mean is, does anyone in the rest of the world actually have access to those now $100 bitcoins, or are the owners of MTGox the only people on the face of the Earth that can actually buy for that price?

That seems like a genius plan by MtGox, don't let anybody withdraw bitcoins and offer $100 for them. I doubt it is MtGox offering the money though - it is buyers willing to gamble that they will be able to withdraw the bitcoins they bought sometime in the future. From the price we can infer the odds are 1:4.

When you aren't able to instantly get back the bitcoins you have on deposit with any service, it is time to be very worried. The only legitimate reason to delay withdraw is if out-of-channel confirmation is required for security against hackers. MtGox lost all your bitcoins with their bad txid programming though. They also lost at least $5M USD from the US government seizing their bank and Dwolla accounts.
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February 21, 2014, 07:29:17 AM
 #13

OK, I agree with you.  I have money, and  I won't post the take my money GIF, but I guess I'm not getting my point across.   If $110 bitcoins are available, then why won't someone agree to sell me several of them right now?


Because nobody can transfer them from their MtGox account to anywhere else in the world.

There are no Bitcoin withdrawals from Gox so if somebody hypothetically sold you their coins, it would be an IOU. If the day ever comes that they can withdraw those coins then the last thing they would want to do is let them go for $110.

Word of advice; don't invest what you can't afford to lose.

At this point the MtGox Doomsday clock is 2 minutes to midnight and ticking...

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February 21, 2014, 07:34:13 AM
 #14

ooch!  Hold tight man.

I'm not looking for $400 coins, or $500 coins.

In truth, the reason I posted this is just to point out that $100 GoxCoins are pure fantasy.  The only people on the face of the earth that can buy them are within the Goxsphere.  And only MK and his minions can get them out.

No worries, it was a small percentage of my coin.

https://www.bitcoin.org/bitcoin.pdf
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February 21, 2014, 07:39:07 AM
 #15

OK, I agree with you.  I have money, and  I won't post the take my money GIF, but I guess I'm not getting my point across.   If $110 bitcoins are available, then why won't someone agree to sell me several of them right now?


Because nobody can transfer them from their MtGox account to anywhere else in the world.

There are no Bitcoin withdrawals from Gox so if somebody hypothetically sold you their coins, it would be an IOU. If the day ever comes that they can withdraw those coins then the last thing they would want to do is let them go for $110.

Word of advice; don't invest what you can't afford to lose.

KK

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February 21, 2014, 07:49:55 AM
 #16

There is also the old axiom:

If it sounds too good to be true, it isn't.
which has saved a lot of people a lot of money over the years.

"Markets always move in the direction to hurt the most investors." AnonyMint
"Market depth is meaningless" AdamstgBit
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February 21, 2014, 07:51:08 AM
 #17

Yep. To make things simple, you are NOT buying BTC from gox. You are buying Goxcoins.

These only become BTC IF they enable withdrawals. Otherwise they are as good as monopoly money. Actually they are even worse.

If it sounds too good to be true, it isn't.
I think you mean *it is*

creekbore
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February 21, 2014, 08:07:26 AM
 #18

Yep. To make things simple, you are NOT buying BTC from gox. You are buying Goxcoins.

These only become BTC IF they enable withdrawals. Otherwise they are as good as monopoly money. Actually they are even worse.

If it sounds too good to be true, it isn't.
I think you mean *it is*

No, I mean it isn't...as in "it isn't true".

"Markets always move in the direction to hurt the most investors." AnonyMint
"Market depth is meaningless" AdamstgBit
ScrapOfCat
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February 21, 2014, 08:56:22 AM
 #19

So much for those coins, any 150 coins for sale?

175?

200?

Buehler?  Buehler?  Buehler?

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CryptoFuture
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February 21, 2014, 09:34:17 AM
 #20

Yep. To make things simple, you are NOT buying BTC from gox. You are buying Goxcoins.

These only become BTC IF they enable withdrawals. Otherwise they are as good as monopoly money. Actually they are even worse.

If it sounds too good to be true, it isn't.
I think you mean *it is*

No, I mean it isn't...as in "it isn't true".

It's "If it sounds to good to be true, it probably is (too good to be true)".

"It isn't" means the opposite. (just google it)

But anyways this is of no use to the thread haha.

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