Post
Topic
Board Speculation
Re: How much longer will Mt.Gox exist before they´re out of business?
by
fonzie
on 26/01/2014, 14:23:41 UTC
Hmmmmm delicious profitable GOXFUD.

Protip: Exchanges are a zero sum game.

Money goes in, but no money goes out. How is that zero sum?

So? Even if everyone cashes out their coin and the price goes to 10k, the cash in GOX remains and the traders who stayed and accepted fiat are now legal owners of that fiat. Gox eventually fixes it's transmission woes and as per the zero sum game, the traders who didn't panic get what's theirs in the end. Gox ain't corrupt, ain't in financial difficulty, but is suffering from bad management. They retain their fees earned over 5 years and have more than enough in reserve(btc and fiat) to get through the problems and in the end the only people who lose are that newb's that panicked on the back of FUD.

You keep flailing, I'll keep profiting thank you.

So you suggest that everyone(at least the smart ones) should send their coins over there, and take advantage of the higher price?