Ninjastic
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Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion
by
FTWbitcoinFTW
on 20/02/2014, 18:56:50 UTC
Quote from: FullLife on February 20, 2014, 06:54:04 PM
Quote from: TheKoziTwo on February 20, 2014, 06:50:08 PM
Quote from: Rampion on February 20, 2014, 06:40:18 PM
Quote from: TheKoziTwo on February 20, 2014, 06:35:32 PM
Quote from: MANofthePEOPLE on February 20, 2014, 06:33:23 PM
Quote from: TheKoziTwo on February 20, 2014, 06:11:08 PM
Quote from: wobber on February 20, 2014, 05:57:55 PM
Do you have any proof of sending 50k to mtgox? This is not speculation is throwing money off the window. You might win, but still it's stupid to do.


Did you make that deposit today and got it in instantly?
Yes I made this today and it should arrive tomorrow based on my previous transactions. It takes about 1 business day for money to arrive.

Well done. You will probably buy more than 500 BTC with that amount.. If Gox can pull their shit together you will be looking at a huge instant profit.

In other news: my concern is not Gox being insolvent "because they lost the coins". My concerns is they are in VERY deep shit for various reasons and funds might be stuck in there for very long.

EUR withdrawals still worked you say? Only smallish ones and VERY slowly. When it takes 6 weeks to process a fiat withdrawal, then something VERY bad is happening. I mean... If I tell to my bank to do a 300k transfer, they do it immediately, and in max. 2/3 days the money arrives to the account where I sent it. If they have to wait WEEKS to be able to send the money, then there is a serious problem somewhere. They won't tell us what is the problem and they make up BS excuses about their "huge volume" overwhelming the banks. In my book, that's very worrying.
From what I understand their bank account has limits of say 200k EUR per day. That means waiting queue. They may be incompetent dealing with the legal issues, (e.g 5m USD frozen in US) and are stuck with these low limit bank accounts. I can see mtgox slowly losing it's market share due to their inability to take care of these issues, but as long as they're not arrested (and I do realize this is a risk so I try to limit my exposure to any exchanges) they will keep pumping funds out slowly, but surely imo. Long story short I don't believe Mark has some evil masterplan to run off with all the btc, nor do I believe they are insolvent. They just can't deal with the "real world".

I am of this opinion as well.  I think incompetence is driving this situation more than anything else.

Please care to explain how do you see the difference ?

From outside, just no way, same symptom for both
Don't get me wrong it's my bet also but before more information both are correct working hypothesis