Quote from: Bitnicity on February 07, 2014, 05:47:10 AM

hopefully this is indication that there is actually technical issue not a bank run...

Well, even if there's a run, I tend to think that they'll have all of the BTC balances ready to give out. The gov't seized some of their dollars, but I haven't heard anything about anybody seizing or stealing their BTC. Only if MtGox has been speculating by either selling or loaning or otherwise "converting" their BTC deposits to other instruments (a huge no-no) would they be without the BTC to give out to fleeing customers.

What I find rather amusing is the fact that, in 24 hours, MtGox has gone from having abnormally high BTC prices (because dollars were tough to get out of MtGox, so they weren't worth as much as BTC, which you could get out quicker). Now that they've frozen all BTC withdrawals, everybody there wants dollars more than BTC because, even if it takes weeks/months to get your USD out, it's better than BTC which you can't at all.

As much as I despise MtGox, this is the one time when I wish I had some cash there, so I could buy BTC at a discount. Like I said, I'm more confident that they have the BTC to cover everybody's balances than USD.