Quote from: sturle on February 09, 2014, 11:44:07 PM

Quote from: rpietila, the Vassal of the Mighty Goat on February 09, 2014, 10:44:41 PM

Quote from: sturle on February 09, 2014, 10:06:40 PM

Quote from: rpietila, the Vassal of the Mighty Goat on February 09, 2014, 08:48:09 PM

I sent you PM several weeks ago asking what could be the best way to get money out of Gox.

Yes, you wrote "time is not critical". I had two suggestions depending on how time critical it was. If time was critical, I would have offered one more suggestion. Then time suddenly got critical, or what triggered your IMHO irrational behaviour? You will get your BTC, and you could have got your USD or EUR as well if time was not critical. I hope you withdrew at least some via SEPA?

They played with me all this time compounding my losses (premium going up). Finally I was in the understanding that I can only withdraw EUR 10,000 per 20 days, which in reality is about 80,000 per year IF the situation does not get worse. Considering that it was constantly and rapidly getting worse (as evidenced by the premium to BS widening rapidly in 25-26), and in my evaluation 25% would trigger a full panic, I pre-empted at 23%. The panic came later same day.

You can withdraw 50k EUR per 20 days with a trusted account. I suggested you waited for Moneypolo integration, since time was not critical. You could do 50k EUR / 20 days while you waited, which is 900k EUR in a year. 1.22 million USD / year. If time was critical, and you were willing to take a loss, I would have suggested the emergency withdrawal option with 5% bank fees. You can even withdraw USD to EUR this way, since MtGox can exchange USD to JPY to EUR at the same 5% fee as USD to JPY to USD, saving a currency conversion on your side.

Quote

Now, listen: The only thing that stopped Gox dollars from becoming worthless that day was the escalation of BTC withdrawal difficulties. As goxBTC becomes endangered also, their ratio can better be manipulated (both are at the mercy of the puppetmasters). I don't know which is the cause and which is the effect of these. But bank run followed.

The price difference increased for a while after the BTC withdrawal difficulties started to appear. If you are right, USD on MtGox will be worthless the moment they open the BTC withdrawal floodgates. I'm ready. The SEPA and domestic JPY withdrawal queues should be shortening now as well, btw. People are not withdrawing fiat right now, but take advantage of reverse arbitrage to be ready if your scenario happens.

Good point err or it would be if once again gox worked as advertized. Still waiting for my SEPA from Jan 8th. So that's 31days now, prob won't see it for another 10days if ever. So that puts it at $600k/yr MAX. Funny how i'm pretty confident that you know that delay is not 20days now but oddly still use overly optimistic figure Roll Eyes