Quote from: Alpaca Bob on January 22, 2014, 06:46:31 PM

Quote from: Butters on January 22, 2014, 04:32:58 PM

So just me trying to use some common sense, can someone tell me, where does gox gets its money ?

Who is depositing cash on their site to buy bitcoin when there is a 100+usd premium compared with other xchanges?

I used to think the same thing, buy apparently dumb people are gonna be dumb. I know several newbie's that recently decided to get themselves some bitcoin through MtGox. Why? Simple. They don't care to do any research whatsoever, and MtGox is like a brand-name.

One of them lost his funds btw. Either his account got hacked into, or he was scammed by Gox. (He did not have 2FA.)

Edit: By the way, Gox told him to take it up with his local police, which is obviously a bad joke as we're situated in Europe.

I am one of those that tried to use Gox last fall. However, I did so not because i was unaware of the problems with withdrawals. I had no intention of ever withdrawing any of my cash from Gox, the spread between Gox and others was not so large then and I simply wanted to buy Bitcoin and eventually withdraw my bitcoin to my own wallet.

I have bought bitcoin in many ways and I wanted Gox to be an option. I like options.

Fortunately, i only wired $3k to Gox as a test, and in hindsight I should have been even more conservative because I have never seen the deposit show up.

Gox did allow me to almost triple my Bitcoins in trades so the volume and movement was great. However, my account is fully withdrawn now as I have lost even trust in trading Bitcoin in Gox. I trade elsewhere and took my all Bitcoin with me.