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Author Topic: MTGOX - something wrong here...  (Read 1122 times)
Andrew Vorobyov
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June 07, 2012, 09:32:34 PM
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Last 3 weeks MTGOX had $1.4M (bitcoincharts.com)  weekly turnover during rising prices.. it means you can not buy, sell, then buy again - because you will lose money doing it...

It means most of this turnover was one way - Cash => BTC.

There is small chance that this whole ~$4M was requested to be withdrawn immediately. So a LOT of this money stays on the account of MTGOX.

But every other thread about MTGOX is - liquidity problems - people wait for transfers... so things does not add up... ~$4M on balance and no withdrawals.

Some of them forced to buy BTC back on MTGOX and transfer it to another exchange, spurring BTC rate higher but not for a long time... finally they will need to sell it again.

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Stephen Gornick
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June 07, 2012, 10:31:41 PM
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But every other thread about MTGOX is - liquidity problems - people wait for transfers... so things does not add up... ~$4M on balance and no withdrawals.

No withdrwawals?  There are lots of funds being withdrawn near the normal schedules.   (SEPA withdrawals, 2-3 day, for instance, I'm told).

But your general point makes sense.

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June 08, 2012, 12:43:12 AM
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it means you can not buy, sell, then buy again - because you will lose money doing it...

You can, you will just lose money.  There are people that lose money trading.

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June 12, 2012, 05:48:43 PM
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it means you can not buy, sell, then buy again - because you will lose money doing it...

You can, you will just lose money.  There are people that lose money trading.

If Mt Gox kept to the schedules they promise on their website, then a lot of people wouldn't be losing money
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