Post
Topic
Board Exchanges
Re: MtGox withdrawal delays [Gathering]
by
virtualfaqs
on 28/01/2014, 23:07:45 UTC
Good luck. But if expect BTC to rise 20% in that time, you are better off using a different exchange.
Why should I? I've bought on BitStamp at 810 USD, sold on MtGox for 960. Then I'm some 30 USD in plus. I have to subtract two trading fees (cost of learning...), SEPA fee, which will be around 2 USD, then my bank will automatically convert EUR to PLN at some not very interesting rate... Still should be worth it. How is bitcoin priced in 6 weeks is completely irrelevant, it may be even 10 USD... Well, if it will be 1500 USD, holding would be better Wink. The worst what can happen is MtGox total collapse and my money lost.

Of course doing arbitrage with 0.2 BTC is pathetitc, but I want a proof of concept for myself.

My thinking is a huge whale has already tried unsuccessfully. I'd say in the beginning of January was a good time. But we're almost at the end of Jan 31 and other then China and FBI's BTC is the only predicted bad news on the horizon. So there's a higher chance now that BTC will go up 20+% in those 6 weeks in which you may not get your withdrawal.