Post
Topic
Board Exchanges
Re: MtGox withdrawal delays [Gathering]
by
Paul89273
on 07/05/2013, 16:08:16 UTC
Think a little more about it. You have a trading platform. Someone gives you 1000 Euro, anotherone 10 BTC. No trade yet.

Now the exchange rate is rising from 100 Euro/BTC to 500 Euro/BTC. Now a trade happens, 2 BTC for 500 Euro each.

There is also 1000 Euro and 10 BTC on your trading platform, as before, nothing really changed for the trading platform (but for the fee).

Offers are possible only for 1000 Euro. Your failure is the 2500 Euro, which does not exist for changing.

Correct me if I'm wrong but does that not just make Mt Gox a Ponzi scheme? Because they have to keep relying on new customers to buy Bitcoins to pay customers who are cashing out?

Furthermore would that explain why it's been over a month now since they confirmed the rumor that they would start trading Litecoins at some point in the future, holding back due to the inevitable that once they start trading Litecoins too then there will be another speculative bubble like there has been in Bitcoins?

Thoughts? MPOE-PR I'd love your opinion too if you come back to this thread