Real bitcoin market value after Mt. Gox

[tins]

yes we do - look at the price of exchanges where the real bitcoins are located

Those prices are references to Mt. Gox,  whopever would trade out of Mt. Gox would take their value as a reference.

What are you talking about? How are they "references to Mt. Gox"?

Gox is over. Kaput. Finito. It is now impossible to reference Gox in any way other than "the exchange that failed". There is no Gox exchange rate.

The market where people buy and sell bitcoins most certainly still exists. There are plenty of centralized exchanges still functioning as well as a few various other types of exchange (localbitcoins, OTC, FTF).

Nobody in the financial industry dealing with bitcoin has been referencing MtGox for many, many months.  I've worked with SecondMarket, for example, and they have been adamant about avoiding Gox prices.

OP is bananas.

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[gollum]

The current value on the exchanges may be considered the market value as it is being sustained for now, but it is not the real market value. It is fake, referenced by a Mt. Gox fiction.

Mt. Gox had most of the transactions, value was defined by supposed offer and demand over there.

However Mt. Gox was a fraud, a ponzi and due to the previous two characteristics: a fictional market.

We don't have any idea of the real market value.

Mate, that's the way the market works.
If you believe it's too cheap, you buy, if not you sell.

But don't say the market value is fake, the market price is always the sum of all trades that occur in a given moment, for whatever reasons.
Speculation and psychology is of course a huge part in the market volatility, but that's the way it is.

[BitOnyx]

Because of the way how bitcoin is created you can't just determine the value based on old days. When you see graph of price over recent months you can see it is nothing traditional way of thinking about market had encountered before. It is large variety of problems related to mining difficulty and speculation prices . Mining problems are easy to understand, speculation part is more unpredictable obviously. China is investing a lot, no wonder since they currency is probably more virtual then bitcoin (ok, I'm joking here but what is actual inflation of they currency ?  weird, isn't it ). Everyone want to start argument, but people who should take biggest part in this discussion are bussy.

[QuestionAuthority]

Gox was officially no longer in the game when BitPay stopped using them as the current rate for their business services.

June 20, 2013

"Effective immediately, BitPay has stopped using Mt. Gox for determining the exchange rate for our invoices."

Here's a wild idea.

Karpeles had the US Gov seize $5 mil and threaten to chase him down and eventually shove hot pokers up his ass at Guantanamo Bay for being instrumental in drug money laundering. He consults an attorney and they come up with the plan of claiming that he really has not done any business since 2011 because he's an incredible programmer fuckup and doesn't know how to hire good people to fix problems for him. He never visited this forum personally so he never heard of offline wallets or safety precautions. The attorney tells him the US Gov can't prosecute you if you were not really exchanging money. Wait a year or so, go bankrupt and claim the incident happened back in 2011. The US Gov will back off so no more hot poker up the ass threats. Hell, ten years from now if Bitcoin survives you can even spend some of the stolen Bitcoins!

[CurbsideProphet]

"Bitcoin will die when the US shuts it down"

"Bitcoin will crash when SilkRoad gets shutdown"

"Bitcoin will die when MtGox is shutdown"

Just another in a long line of FUD.

[AndBerg]

"Bitcoin will die when the US shuts it down"

"Bitcoin will crash when SilkRoad gets shutdown"

"Bitcoin will die when MtGox is shutdown"

Just another in a long line of FUD.

Right 

[Kazimir]

Mt. Gox had most of the transactions,

Uhm, yeah, in 2011 they did. We live in 2014 now.

value was defined by supposed offer and demand over there.

BTC value on Gox, yes, perhaps. Not the BTC value in the real world.

Gox was already irrelevant for quite some time. Get over it.

[Nagle]

There is a market price right now, that prices in all known facts and expectations to the future. That is 550ish. Without the Gox issue it would be 1000+

.
No, the big runup was when, for a few months from roughly November 2013 though January 2014, Bitcoin was an easy, legal way to get money out of China, bypassing China's exchange controls. Once the People's Bank of China cracked down, that stopped, and prices slid back down. Still, they're over 5x what they were in October 2013. Unclear why.

The collapse of Mt. Gox doesn't seem to have affected the price of Bitcoin much at all.

[jonald_fyookball]

The current value on the exchanges may be considered the market value as it is being sustained for now, but it is not the real market value. It is fake, referenced by a Mt. Gox fiction.

Mt. Gox had most of the transactions, value was defined by supposed offer and demand over there.

However Mt. Gox was a fraud, a ponzi and due to the previous two characteristics: a fictional market.

We don't have any idea of the real market value.

I know what you're getting at, but the fact of the matter is Gox didn't have MOST of the transactions
for a while...they used to be the biggest years ago, then they declined,  and now they are bankrupt.

Over the last few months, based on news and market activity,
price adjusted from around 800 to around 630 today and that is the real market value...

You think Gox is going to linger for years?  come on... the "sustaining"
that you are talking about is done... gox is gone, and $630 USD is what people are willing to buy and sell
a bitcoin for today.