I bet that Mt Gox will go bankrupt soon

Discussion in 'Economics' started by coolsurfboy, Feb 19, 2014.

  1. coolsurfboy

    coolsurfboy Member

    too many messages asking their customers to wait and wait and wait .......

    Vote +1 if true
    -1 if untrue

  2. DogenZenji

    DogenZenji New Member

    well, there's an enormous price disparity across the exchanges ; suggesting people are trying to get out of MtGox


    in theory you should be able to buy BTC at MtGox and sell it at another exchange for a significant profit

    however the infrastructure moves no quicker than traditional hand delivered post, by the time you get your BTC out of MtGox and over to another exchange the trade can back-fire

    in fact you cant even get BTC out of Mt Gox at all at present......which is a pain in the "botox" when it comes to buying emu with BTC and you're stuck at MtGox,......like me!
  3. Joshua

    Joshua New Member

    +1 true, most definitely.
  4. jibble

    jibble New Member

    Mt Gox go bankrupt? they already had their funds seized previously, if anything the price is an advantage to them currently, less they require to pay out in total. their whole account has dropped more than 50% in value...and it wasnt their money that dropped in value, just the money they owed.

    Tbh i would say 60% chance maybe they get back up and running and things get back into the swing of things.

    and if you are a betting man and think it will recover you can buy gox btc with normal btc at a discounted price

    obviously you risk loosing it. but you also have the chance to not only buy discounted bitcoin, but possibly see them rise by another $100-200 in the recover of it.
  5. Timb

    Timb Beta Testers

    I think it's almost wishful thinking after some of the hysterics Mt Gox has caused in the past!
  6. DogenZenji

    DogenZenji New Member

    down to $135USD, this could turn into a panic sell-off, then retrace.......flash-crash!

    if there's no fundamental problem with MtGox that is
  7. bahamapascal

    bahamapascal Beta Testers


    I think they will fix the problem. Though I think its possible (not saying that that is what they are doing, just a possibility) that they are purposely taking this long for the fix as they are profiting from huge trade volume and could buy up those cheap btc right before they announce the fix.
    But that's just speculation. I just hope that they will fix it and I won't lose my funds on there :p
  8. Ninjafocus

    Ninjafocus Beta Testers


    If you understand the company history, you know that Mt Gox had a lot of problems as well. Some of those problems are much worse than this one. For this time around, I believe it is the short sellers who fuel up the panic selling mode. Hint: They probably in collaboration with some internal people in MT Gox to delay the fix and create the bad news. When the price is low enough, they will cover their shorts and buy back up at the very low price in MT Gox. Damn Smart and Evil! Make money both ways.

    This is just my prediction based on my past experience. I was a NYSE trader under 2 bosses from USA. I saw how they manipulated the price of a certain stocks with their millions of fund.
  9. Snail2

    Snail2 Beta Testers


    - TBF sees Mt Gox as one of the biggest pillars of the BTC economy, Mark Karpeles is a board member, in addition they are afraid of the impact of such an event on the entire BTC world. So I guess they will intervene if things getting too rough.
    - Mt Gox is an old player in this game and in the past they have survived even bigger troubles.
  10. Joshua

    Joshua New Member

  11. DogenZenji

    DogenZenji New Member

  12. aorith

    aorith Member

    Well finally MtGox went offline, I can't really invest in emunie now... lost almost all i had (2.1btc)

    fuck my luck
  13. Zeus

    Zeus Beta Testers

    That is rotten luck.
    You could post your BTC wallet address, perhaps some people here (me included) would feel like donating/loaning, whichever you prefer, some bitcoin so you can take part in the IPO.
    1 person likes this.
  14. aorith

    aorith Member

    You are very kind, but I'm having very bad luck lately thats why I'm scared now to invest in emunie, I still have almost 1btc (0.91 I think) In a cold wallet that I was planning to invest in emunie, but that was because I had in mind cashing out those 2.1 btc to help my parents with bills etc.

    Now I'll try to cash out those btc (if price of btc doesn't vanish too), and try to get some emu by hatching.

    Also sucks to live in Spain and find yourself unemployed for over a year and a half...
  15. DogenZenji

    DogenZenji New Member

    i'm in the same position, had some cash stuck at gox, enough to buy 11K emunie........not sure what i'll do now, or if i'll even be participating in emunie

    recieved this from gox just the other day http://screencast.com/t/47s9K1U7rFkb

  16. Jazzer

    Jazzer The Dutch connection Staff Member

    Wow those guys really have a lot of nerve. "Dear valued customer" followed by a load of BS. I sympathize with everyone who stands to lose money here. It seems the only consolation is you are not alone, given the gigantic amount of coins plus cash that is missing. It's a really harsh lesson for all of us that cold storage is the only way to keep your coins safe.

    I also agree that it's hard to believe that this is true, how can you lose pretty much everything you have and not notice along the way?? It reeks of foul play.
  17. Hansen

    Hansen Founders Staff Member

    I lost some BTC some years ago when bitmarket.eu crashed. I didnt care too much as they were worth 10$ each, but still it pissed me off (not talking about how much they would have been worth now :-( ). So I can really feel how you feel righ now. If possible try to invest in emunie as these issues will be for history books after launch. :)
  18. withice

    withice Beta Testers

  19. DogenZenji

    DogenZenji New Member

    terrific!........you can be mismanaged twice; no thanks :angry:

  20. aorith

    aorith Member

    and now they have this on their site:

    Dear MtGox Customers,

    In light of recent news reports and the potential repercussions on MtGox's operations and the market, a decision was taken to close all transactions for the time being in order to protect the site and our users. We will be closely monitoring the situation and will react accordingly.

    Best regards,
    MtGox Team

    It's not enough to steal our BTC, they also playing with us... !"!!

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