Do you believe gox is holding 624408 BTC for customers?

[jl2012]

http://zh.scribd.com/doc/209050732/MtGox-Situation-Crisis-Strategy-Draft

This document claims that gox is holding 624408 of customers' BTC. It's like 5% of all existing bitcoin. I think this is ridiculous as there was always less than 50000 on the order book. Why people are storing huge amount of money on gox for nothing? I simply can't believe it.

(here I mean the liability, not the actual amount of BTC in gox's wallet)

[ElectricMucus]

If you are into Bitcoin for short term speculation and want to be able to react to the market quickly without having to sell them for a pre-determined amount it makes sense to leave them on the exchange.
Just saying.

[jl2012]

If you are into Bitcoin for short term speculation and want to be able to react to the market quickly without having to sell them for a pre-determined amount it makes sense to leave them on the exchange.
Just saying.

Yes, but with a >10x of amount shown on the book is still far too much IMO, especially when gox has all sort of problems

[wobber]

Roughly 312,204,000 USD. Nice!

[porcupine87]

If you have Bitcoins for short term speculation and want to be able to react to the market quickly without having to sell them for a pre-determined amount it makes sense to leave them on the exchange.
Just saying.

Then you would see them in the order books...

[ReBoRn]

Roughly 312,204,000 USD. Nice!

yes I sure they have just because of this now they are doing this dirty game

[Asrael999]

If you are into Bitcoin for short term speculation and want to be able to react to the market quickly without having to sell them for a pre-determined amount it makes sense to leave them on the exchange.
Just saying.

Yes, but with a >10x of amount shown on the book is still far too much IMO, especially when gox has all sort of problems

I know I have coins at stamp that are not in the order book - I don't use Gox but why wouldn't people have done the same thing? Allegedly they had 500,000 accounts - ( inflated number probably) but if every account just left 1 coin there it would be most of that number.

[ElectricMucus]

If you are into Bitcoin for short term speculation and want to be able to react to the market quickly without having to sell them for a pre-determined amount it makes sense to leave them on the exchange.
Just saying.

Yes, but with a >10x of amount shown on the book is still far too much IMO, especially when gox has all sort of problems

Well, I think not everybody who had Bitcoins on mtgox had a reason to do so. People are also lazy/reckless/stupid whatever you want to call it.

[ElectricMucus]

If you have Bitcoins for short term speculation and want to be able to react to the market quickly without having to sell them for a pre-determined amount it makes sense to leave them on the exchange.
Just saying.

Then you would see them in the order books...

Nope. If I just have the Bitcoins in the account balance they don't show up, how should they if there is no price given for the sale?