Bitstamp rapid sell/buy coming?

[cafucafucafu]

When Bitstamp starts up, are we going to see a rise in people removing their fiat or coins?

[fewcoins]

Everyone will probably remove their coins... I know I will be shutting my account down & if most people do that, I could easily see them running into a mt. gox scenario where they really don't have enough funds to recover, and they must shut down 

[Remember remember the 5th of November]

Who knows, I mean Bitstamp said they will reimburse ALL lost coins, so in principle this shouldn't make them sell, however knowing that 19k can be sold at any time, people could likely sell, not just to liquidate their BTC holding so they don't risk losing them in another hack, but also because 19k are waiting to be sold.

[byronbb]

Who knows, I mean Bitstamp said they will reimburse ALL lost coins, so in principle this shouldn't make them sell, however knowing that 19k can be sold at any time, people could likely sell, not just to liquidate their BTC holding so they don't risk losing them in another hack, but also because 19k are waiting to be sold.

The hacker would be a fool to move coins on an exchange with KYC requirements. Lets look for a huge arb between BTC and the rest of the pack.

[riiiiising]

Didn't Pantera pull their Bitstamp support entirely? And their trading engine is still down? That doesn't look very good at all. Most likely, they're taking a page from the Mark Karpeles playbook right now and buying time to tie some loose ends together before they admit that the scope of the hack was larger than initially reported and get the hell out of dodge with suitcases full of cash.

Remember, there were bit-tards defending MtGox right up to the point that their website went offline completely. Most bit-tards don't have a memory of +/- 2 days, so this could all take them by surprise... again.

[Brewins]

It depends what is going one.

Things like if Stamp will have or not limits on withdraw and so on.

Also if they go online and some time they stop withdraws price will plummet because it will show they are insolvent.

[bitcon]

maybe they will pull a gox and allow only people to buy and withdrawal btc so it artificially skyrockets price to moon levels again.

[chopstick]

maybe they will pull a gox and allow only people to buy and withdrawal btc so it artificially skyrockets price to moon levels again.

That would be hilarious.

[premium_domainer]

price will rapidly increase if they buy 19k coins...

[Remember remember the 5th of November]

price will rapidly increase if they buy 19k coins...

The opposite will happen once 19k are sold.

[premium_domainer]

price will rapidly increase if they buy 19k coins...

The opposite will happen once 19k are sold.

agreed, 100%

[celebreze32]

Doesn't matter what will happen with Stampax, there shall be blood, get out of this pyramid scheme while you still can!

You didn't get out when we told you to get out, you lost and were wrong and called us trolls!

Cut your loose

[Remember remember the 5th of November]

Doesn't matter what will happen with Stampax, there shall be blood, get out of this pyramid scheme while you still can!

You didn't get out when we told you to get out, you lost and were wrong and called us trolls!

Cut your loose

Nice catch . A troll with poor spelling...

[grappa_barricata]

It is extremely probable they'll never reopen, for the reasons OP and others have pointed out. Why reopen if a fund run (both BTC and FIAT) is the most likely scenario and the outcome of that scenario is their economical failure? Better to earn time with vague promises while the money is laundered in bank heavens.

[spazzdla]

It is extremely probable they'll never reopen, for the reasons OP and others have pointed out. Why reopen if a fund run (both BTC and FIAT) is the most likely scenario and the outcome of that scenario is their economical failure? Better to earn time with vague promises while the money is laundered in bank heavens.

I agree the odds are there will be a bank run.  How they handle it may define the future of BTC for some time.

[asdlolciterquit]

It is extremely probable they'll never reopen, for the reasons OP and others have pointed out. Why reopen if a fund run (both BTC and FIAT) is the most likely scenario and the outcome of that scenario is their economical failure? Better to earn time with vague promises while the money is laundered in bank heavens.

I agree the odds are there will be a bank run.  How they handle it may define the future of BTC for some time.

so, good bye honest. This is exacly what crypto's world doesn't need

[SirChiko]

price will rapidly increase if they buy 19k coins...

The opposite will happen once 19k are sold.

agreed, 100%

Hah and what if the thief is holder?
And even if not, selling 19k coins would send you to jail really fast.

[Bejkn]

first of all, wait for them to restart is the most important

[v0yager]

Still down right now,I guess lots of coins would be sold after the restart.

[spazzdla]

Still down right now,I guess lots of coins would be sold after the restart.

IMO they will be withdrew not sold.