Quote from: whave on February 07, 2014, 09:46:19 AM

Quote from: newguy05 on February 07, 2014, 09:44:13 AM

Quote from: newguy05 on October 19, 2013, 06:16:20 PM

FYI, this is very concerning. Didnt realize it, but checked mtgox market depth and it's true. There already seem to be a slow run on the bank with mtgox.

Not to create panic, but i suggest anyone with money/bitcoin in mtgox to get it out for safekeeping. Right now people are still walking towards the exit, you dont want to wait until it becomes a stampede. It's pretty obvious at this rate, the bitcoins will be drained out due to mtgox inability to withdraw funds, and now even majority bitcoin withdraw is getting delayed.

I work in the financial industry for a long time, this is no different than a run on a fund, you dont want to be the last one in it trying to get out, always be the first. Yes it may not come to that, but why take the risk by leaving your bitcoins in mtgox?

I have converted the remaining balance in mtgox to bitcoin and submitted the withdraw request to get all of it out.

repost....

i will say again, whatever you believe about mtgox and unicorns, there is no reason, absolutely NONE, to leave your fiat or bitcoins in mtgox.

All risk, no reward.

Thanks, great idea, great advice, Cpt. Obvious!

Oh wait... isn't the problem in the first place that people HAVE TO leave their fiat/btc @ mtgox, because they CAN NOT do a withdrawal?

how am i captain obvious when the warning was from last oct? and you COULD withdraw bitcoins out just not fiat, my point over and over, was to convert to bitcoin and get the hell out of mtgox before it is too late(like now) there is no reason to leave in mtgox given the risk. Reading comprehension of kids nowadays....

What can you do now? go into hope and pray mode that they open bitcoin withdraws again, however i am not sure how that will work, because as soon as they do, you can bet there will be MASSIVE outflow of bitcoins. Mtgox knows there will be mass panic and liquidity outflow when they announced the halt, the situation must be an absolute disaster for them to not even care and just want to stop the bitcoin withdraw NOW.

What can you do if confirmed after a few months you not getting anything out? sell in mtgox and convert to fiat, read up on the boj's banking®ulations and file suit, you will have a much better chance if it is fiat they are holding instead of bitcoins. Of course this only makes sense if the $ amount is above 6 figures.