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Author Topic: MtGox discount oportunity?  (Read 1768 times)
swe_dev1
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February 21, 2014, 08:02:47 AM
 #1

Hello,

BTC is traded at $100 at MtGOx now as compared to +500$ at other exchanges. If I have understood things correctly, you can freely move your bitcoins between your wallets and between exchanges as well. Also, a bitcoin is a bitcoin regardless of which wallet it is stored in.

Given the above, what if someone were to throw the dice and buy e.g. 1 bitcoin at MtGox at "discount price" and then transfer it out of MtGox (if/when that becomes possible) to another exchange and sell it for what 1 bitcoin is worth there? If MtGox goes bankrupt or otherwise fails, you would most likely lose all your funds, but if you were willing to risk it, is it technically possible?

/Eric
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February 21, 2014, 08:05:02 AM
 #2

Yes, it is possible. Assuming that MtGox will become operative again ...

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February 21, 2014, 08:10:51 AM
 #3

Of course this is possible- but the reason that the price ratio is so low is because the sentiment is leaning heavily against people being able to freely withdraw again.

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February 21, 2014, 08:57:34 AM
 #4

Hi,

I actually bought 2.3 BTC for that price as a gamble, when I saw a buy wall at $110 of over 2500 BTC. SInce then the price is at 150 and I think I'll just wait. MTGOX must be earning a great amount of money at these massive sales.

My theory is that they sold their BTC pre-announcement and are now buying them back for the low price. This way they can make up for the lost BTC.

If I end up being wrong, I still believe it's worth the the risk, because the gains can be huge.

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February 21, 2014, 09:14:36 AM
 #5

My new theorie is that there is no one that sells BTC on MtGox. Who would sell at that price?
Maybe it's just MtGox setting this prices to get rid of their USD-debts.
Somebody mentioned that you don't have a change to get your BTC back in court, but you could get back your USD.

https://forum.bitcoin.com/
New censorship-free forum by Roger Ver. Try it out.
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February 21, 2014, 09:25:44 AM
 #6

Hello,

BTC is traded at $100 at MtGOx now as compared to +500$ at other exchanges. If I have understood things correctly, you can freely move your bitcoins between your wallets and between exchanges as well. Also, a bitcoin is a bitcoin regardless of which wallet it is stored in.

Given the above, what if someone were to throw the dice and buy e.g. 1 bitcoin at MtGox at "discount price" and then transfer it out of MtGox (if/when that becomes possible) to another exchange and sell it for what 1 bitcoin is worth there? If MtGox goes bankrupt or otherwise fails, you would most likely lose all your funds, but if you were willing to risk it, is it technically possible?

/Eric

You can't move it freely.  MtGox BTC withdrawals are closed. 

If you liked this post buy me a beer.  Beers are quite cheap where I live!
194YjsiwmGm3hcbPcJWWyzRAS9CQLX1fJL
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February 21, 2014, 09:28:45 AM
 #7

The problem now is getting new money into Gox or rather would you want to all things considered with the live protest issues and the huge difficulties they are facing.

I admit they are cheap they could be funding their account from these low prices or they could outright scam or make a profit from legitimatizing the exchange once more

Either way it is interesting nom.
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February 21, 2014, 09:50:48 AM
 #8

Obviously MtGox does not have the BTC/Fiat they should. Otherwise they wouldnt shoot themselves in the head by moving their office to a PO.Box, freezing withdrawals, never allowing audits, keeping secrecy about everything inside MtGox, etc.

It is like the film "The Wolf of New York". However this should be named "The Wolf of Tokyo".
Bitcoin is still unregulated, then the biggest scammers are everywhere where bitcoins are handled. Now, obviously, MtGox is one of the biggest scammers out there. I wont be surprised if in 3years there is a Hollywood film about MtGox and their lavish partying, drugs, luxuries, and inside jokes about how easy it is to steal from the morons that trust them their funds.

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February 21, 2014, 10:18:49 AM
 #9

Goodluck getting fiat in or btc out  Angry

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February 21, 2014, 10:19:18 AM
 #10

Hello,

BTC is traded at $100 at MtGOx now as compared to +500$ at other exchanges. If I have understood things correctly, you can freely move your bitcoins between your wallets and between exchanges as well. Also, a bitcoin is a bitcoin regardless of which wallet it is stored in.

Given the above, what if someone were to throw the dice and buy e.g. 1 bitcoin at MtGox at "discount price" and then transfer it out of MtGox (if/when that becomes possible) to another exchange and sell it for what 1 bitcoin is worth there? If MtGox goes bankrupt or otherwise fails, you would most likely lose all your funds, but if you were willing to risk it, is it technically possible?

/Eric

keep away from MtGox Smiley


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bitKnife
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February 21, 2014, 11:06:53 AM
 #11

mtgox crashed bitcoin last time,
it is doing it again!
roslinpl
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February 21, 2014, 11:49:04 AM
 #12

mtgox crashed bitcoin last time,
it is doing it again!


And gox wish to never do withdraws :-)

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freedomno1
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February 21, 2014, 11:50:42 AM
 #13

mtgox crashed bitcoin last time,
it is doing it again!

True but this may be the last time it does so and thus we see a dramatic death occur
Unless it revives then ^_^ Were going to be in for a long ride
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February 21, 2014, 12:06:29 PM
 #14

Amazing,



if you buy into MT Gox you have a:

90% chance that you won't see 100% of your money
80% chance that you will see at least 10% of your money
5% chance that you will see any profit
and a
100% chance that you will have learned a valuable lesson.

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February 21, 2014, 12:15:57 PM
 #15

Amazing,



if you buy into MT Gox you have a:

90% chance that you won't see 100% of your money
80% chance that you will see at least 10% of your money
5% chance that you will see any profit
and a
100% chance that you will have learned a valuable lesson.


♫ This is ten percent luck, twenty percent skill ♫
♫ Fifteen percent concentrated power of will ♫
♫ Five percent pleasure, fifty percent pain ♫
♫ And a hundred percent reason to remember the name! ♫

Please ask for a signed message from my on-site Bitcoin address (Check my profile) before doing any offsite trades with me.
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February 21, 2014, 01:56:07 PM
 #16

Amazing,



if you buy into MT Gox you have a:

90% chance that you won't see 100% of your money
80% chance that you will see at least 10% of your money
5% chance that you will see any profit
and a
100% chance that you will have learned a valuable lesson.


♫ This is ten percent luck, twenty percent skill ♫
♫ Fifteen percent concentrated power of will ♫
♫ Five percent pleasure, fifty percent pain ♫
♫ And a hundred percent reason to remember the name! ♫
...

To remember to not to buy @mtgox

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roslinpl
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February 21, 2014, 03:39:35 PM
 #17

Amazing,



if you buy into MT Gox you have a:

90% chance that you won't see 100% of your money
80% chance that you will see at least 10% of your money
5% chance that you will see any profit
and a
100% chance that you will have learned a valuable lesson.


♫ This is ten percent luck, twenty percent skill ♫
♫ Fifteen percent concentrated power of will ♫
♫ Five percent pleasure, fifty percent pain ♫
♫ And a hundred percent reason to remember the name! ♫


Indeed nice rhyme.


pretty good



 

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February 21, 2014, 03:48:14 PM
 #18

in my honest oppinion mt gox lost alot of money from the glitch thewy had, this has brought them out of pocket! so i honestly think the btc that is $100-$200 they are buying up so they can make back some of what they lost! im sure they sold thier btc bf the news about withdraws, so now its a win-win for them! everyone should def. stay away from gox, they are untrustworthy! just my oppinion tho

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February 24, 2014, 05:19:23 AM
 #19


♫ This is ten percent luck, twenty percent skill ♫
♫ Fifteen percent concentrated power of will ♫
♫ Five percent pleasure, fifty percent pain ♫
♫ And a hundred percent reason to remember the name! ♫


If you add Mt. Gox name towards the beginning the protesters have a protest song.  Please post youtube link if you take up the endeavor

The Mtgox Protester rap song I like it
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February 24, 2014, 03:32:44 PM
 #20


♫ This is ten percent luck, twenty percent skill ♫
♫ Fifteen percent concentrated power of will ♫
♫ Five percent pleasure, fifty percent pain ♫
♫ And a hundred percent reason to remember the name! ♫


If you add Mt. Gox name towards the beginning the protesters have a protest song.  Please post youtube link if you take up the endeavor

The Mtgox Protester rap song I like it

Yes it is very nice Smiley

And another proof to that bad things can create good things too Cheesy

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