Quote from: solex on October 31, 2013, 10:19:07 AM

Quote from: barbs on October 31, 2013, 10:04:23 AM

Remember BTC is the only real way to pull money out reliably from MTGox..

And this is why Bitcoin will ultimately succeed: it is the superman of currency. If MtGox was engaged in the business of exchanging anything else it would be dead in the water months ago with its fiat transfer system so crippled.

Bitcoin is far bigger MtGox, and the problem of where whales dump coins is not a make or break issue. Many whale sells are trickled out over days and never detected.

And the annoying part here is I AGREE with you. But where you and I probably differ is I see bitcoin surviving not equal to bitcoin staying at current price levels. Of course bitcoin will survive. I'm just concerned with the forum's recent posts of to tha moon linear 1000$ by January etc.

My point is that today's price is not certain to be correct based on these factors and you guys need to awknowledge the uncertainty caused by this situation it is being underplayed big time. I could be totally wrong (probably am?) The biggest exchange is crippled fiat wise and the only way out is BTC, they set the price, rising BTC price makes other exchanges follow.

Bitcoin has a bright future long term but right now MTgox is the dark shadow over the short term with huge stores of BTC in their control, no ability to pay out, and continued dominance in BTC price setting. Imagine this blows up and the newbs get burned again like in april. Everyone runs for the hills again. Lets be clear this is a possible scenario.

Edit: you guys are right regarding foolishness of staying on Gox, and I've recently wised up. I'm verifying for Stamp and moving my funds (not much) asap to Bitstamp, UK exchange, I'm in the UK, feel much better about that. Wish I did it earlier when we hit 180.