Bitcoin Forum
June 16, 2019, 07:47:41 AM *
News: Latest Bitcoin Core release: 0.18.0 [Torrent] (New!)
 
   Home   Help Search Login Register More  
Pages: « 1 [2]  All
  Print  
Author Topic: Centralized Exchange  (Read 1466 times)
Bogleg
Full Member
***
Offline Offline

Activity: 185
Merit: 100


View Profile
September 05, 2014, 02:29:25 AM
 #21

MtGox offered much higher exchange rate than the average market price before going bankruptcy. There are some issues there. They are happy for your deposit,but always find excuses for your withdrawal request. They are manipulating the price. They are dead. I think the value of BTC in a reliable and secure exchange won't depart much from the average market value.

The rate on Mtgox is a lot lower than market price before closing the door and going bankrupt.

It was higher when customer can still withdraw bitcoin but not able to withdraw fiat.
1560671261
Hero Member
*
Offline Offline

Posts: 1560671261

View Profile Personal Message (Offline)

Ignore
1560671261
Reply with quote  #2

1560671261
Report to moderator
1560671261
Hero Member
*
Offline Offline

Posts: 1560671261

View Profile Personal Message (Offline)

Ignore
1560671261
Reply with quote  #2

1560671261
Report to moderator
1560671261
Hero Member
*
Offline Offline

Posts: 1560671261

View Profile Personal Message (Offline)

Ignore
1560671261
Reply with quote  #2

1560671261
Report to moderator
Some PGP public keys you should import: theymos, Wladimir, Gregory, Pieter
Advertised sites are not endorsed by the Bitcoin Forum. They may be unsafe, untrustworthy, or illegal in your jurisdiction. Advertise here.
1560671261
Hero Member
*
Offline Offline

Posts: 1560671261

View Profile Personal Message (Offline)

Ignore
1560671261
Reply with quote  #2

1560671261
Report to moderator
Rakitich
Member
**
Offline Offline

Activity: 70
Merit: 10


View Profile
September 05, 2014, 04:16:46 PM
 #22

This defeats the purpose of BTC.
master-P
Hero Member
*****
Offline Offline

Activity: 868
Merit: 1000


https://keybase.io/masterp FREE Escrow Service


View Profile WWW
September 06, 2014, 06:34:32 AM
 #23

MtGox offered much higher exchange rate than the average market price before going bankruptcy. There are some issues there. They are happy for your deposit,but always find excuses for your withdrawal request. They are manipulating the price. They are dead. I think the value of BTC in a reliable and secure exchange won't depart much from the average market value.

The rate on Mtgox is a lot lower than market price before closing the door and going bankrupt.

It was higher when customer can still withdraw bitcoin but not able to withdraw fiat.
Customers were able to withdraw fiat, it just took a long time. When it took longer then expected to withdraw their money from gox people would panic buy the bitcoin back and withdraw their bitcoin onto another exchange that could deliver fiat more quickly.

The price of bitcoin crashed on gox when customers were unable to withdraw their bitcoin because they thought holding fiat would be safer then holding bitcoin at an exchange with no bitcoin.

Master-P's Free Escrow Service | 1% Fee for Multi-Party/Sig Campaigns | I Sign ALL of my addresses using PGP Key: https://keybase.io/masterp Verify
Tipping Address: 14PUWBwK854GLenxSa7MAuxXQUXK4DKKi5 | E-mail: masterp.bitcointalk {at} gmail {dot} com (for when/if the forum's offline)
Guide on How to Sign a Message
cryptofan5
Full Member
***
Offline Offline

Activity: 126
Merit: 100


View Profile
September 06, 2014, 08:46:11 AM
 #24

The whole idea of centralized exchange would be contrary to the idea behind bitcoin.
bitcoboss
Newbie
*
Offline Offline

Activity: 39
Merit: 0


View Profile
September 06, 2014, 02:27:07 PM
 #25

if the exchanges are centralized then what will it help that bitcoins are decentralized, exchanges should also be decentralized
itsAj
Hero Member
*****
Offline Offline

Activity: 588
Merit: 500



View Profile
September 07, 2014, 04:47:45 AM
 #26

MtGox offered much higher exchange rate than the average market price before going bankruptcy. There are some issues there. They are happy for your deposit,but always find excuses for your withdrawal request. They are manipulating the price. They are dead. I think the value of BTC in a reliable and secure exchange won't depart much from the average market value.
They did not offer any rate, it was the rate that the market on their exchange provided. The reason it provided such rate was because people were having trouble getting their fiat out of gox. This was reflected in their exchange rate and the confidence that was given to them by the public.
Pages: « 1 [2]  All
  Print  
 
Jump to:  

Sponsored by , a Bitcoin-accepting VPN.
Powered by MySQL Powered by PHP Powered by SMF 1.1.19 | SMF © 2006-2009, Simple Machines Valid XHTML 1.0! Valid CSS!