Wall Observer - MtGoxUSD wall movement tracker

[hmmmstrange]

With no fees on gox i'm going to place 1000's of bids/asks. I recommend everyone do the same. It's time for gox to be gone.

[Krabby]

Might sound silly but is there ANY chance mt.gox could shutdown and run off with our money worst case?

[justusranvier]

Might sound silly but is there ANY chance mt.gox could shutdown and run off with our money worst case?

Why would you worry about that? Has anything like that ever happened before?

[adamstgBit]

Might sound silly but is there ANY chance mt.gox could shutdown and run off with our money?

lol no chance.

the are a registered, 100% legit business, with employees.

they can't just cut and run....

[lebing]

With no fees on gox i'm going to place 1000's of bids/asks. I recommend everyone do the same. It's time for gox to be gone.

I agree on diversification, but exploiting a weakness because they have one, is just fucked up. Unfortunately if you hurt gox at this point, that also means you hurt bitcoin in a big way.

[laughingbear]

With no fees on gox i'm going to place 1000's of bids/asks. I recommend everyone do the same. It's time for gox to be gone.

with zero fees, unless mtgox has GREATLY improved the site, once they open it will be unsaleable in an instant.

[Krabby]

I would just like to say, this is the funniest thing ever.

[r.willis]

]Why would you worry about that? Has anything like that ever happened before?

There is first time for everything.

[DougTanner]

Bitstamp crashing big-time. Looks like one big market-order.

[420]

Bitcoin will get mentioned someplace with lots of readers, a bunch of those readers will like the idea and try to buy Bitcoins, their price will rise which will draw even more people to "invest", which will drive the price up even more... until people decide that the price isn't going to rise any more and everybody rushes to sell before the price drops.  I predict there will be between one and five Bitcoin bubbles (price will double or more and then crash back down below the starting price) in the next four years .

So, is this the second 50% crash or am I missing one here?

right except the price crashes to ABOVE the starting price

[prof7bit]

With no fees on gox i'm going to place 1000's of bids/asks. I recommend everyone do the same. It's time for gox to be gone.

with zero fees, unless mtgox has GREATLY improved the site, once they open it will be unsaleable in an instant.

You can only sell or buy as many bitcoins as you actually have funds in your account, no matter how low the fees.

[DoomDumas]

Might sound silly but is there ANY chance mt.gox could shutdown and run off with our money worst case?

Why not ?  They have enought cash to leave, get new ID, chirurically change their face and enjoy a multi million retirement !

[sd]

]Why would you worry about that? Has anything like that ever happened before?

There is first time for everything.

It has happened before. If you had access to a few hundred million in hard to trace digital cash you would be tempted wouldn't you?

For all we know the mtgox crew have brought their own private island off a country with a negotiable justice system and are flying out now on their private jet.

[lebing]

$55 coins on bitstamp right now... lucky you if you have fiat there.

[prof7bit]

]Why would you worry about that? Has anything like that ever happened before?

There is first time for everything.

It has happened before. If you had access to a few hundred million in hard to trace digital cash you would be tempted wouldn't you?

For all we know the mtgox crew have brought their own private island off a country with a negotiable justice system and are flying out now on their private jet.

No. Everybody knows they already have left the earth a while ago and are operating the business from low lunar orbit, hence the huge lag and the sporadic downtimes that coincide with the moon phases.

[justusranvier]

There is first time for everything.

Yes, and they have already happened. Over and over again.

Note for those who are new to Bitcoin:

The odds of any third party that holds bitcoins on your behalf either stealing or losing them asymptotically approaches 100% the longer they remain in business.

Don't let it happen to you. Bitcoin allows you to be your own bank so don't risk your bitcoins by giving to other people to store.

[DougTanner]

Just picked up a handful of Bitcoins for $50. Wish I had more fiat there, but I guess so does everyone.

[Krabby]

What time does the exchange open?
Will you guys be attempting to snipe?

[Luno]

]Why would you worry about that? Has anything like that ever happened before?

There is first time for everything.

If they had spend costumer deposits making the amounts on peoples accounts not backed by real money and BTC, then yes, but that could have been going on for months on the way up without anyone knowing. So if that's the case, your money could have been stolen weeks ago, not today. they would have used new $$ deposits to pay the ones cashing out until they started to pay out more out than they got in, a real ponzi.

However that would still be fraud in the real world taking peoples money in a scam. Dealing in Bitcoins does not protect the owners of an exchange from the law.

that has never happend in an exchange, true, but in numerous other Bitcoin "businesses" around here.

[DougTanner]

Bitstamp crash is over, but it looks like it pulled down the other exchanges with it (except Canada holds strong).