mtgox stops all withdraws, dont move anything in

N

newguy05

Looks like that scam exchange is on its last legs, i have been warning people on the bitcoin forum since last oct not to leave anything in mtgox, but noone listens, now panic.

Quick summary, they have officially halted bitcoin withdraws, in the past only fiat was not getting processed (keep in mind when they announced usd withdraw halted for "a few days" many months ago, it never came back)

So long story short, don't transfer anything into mtgox. If you are in the us, use coinbase, and even then don't leave any bitcoin in the account.

http://www.coindesk.com/mt-gox-halts-bitcoin-withdrawals-price-drop/

ps bought a few @$680
 
Bitcoin players these days are taking high, stupid risks. Deserve to lose there money.... though some will "make out", just as any other stupid bubble plays... most will lose their ass. Bitcoin players would be better off to play Keno in Vegas... at least the downside is limited and the risk/reward (though low probability) is favorable.
 
In times of panic, just watch this video to remember why you got into Bitcoin in the first place.

"Oh my God, it's not a currency. It's a network." - Andreas Antonopoulos
http://www.youtube.com/watch?v=snAC4zg23Sc

By the way: the current price ($720 at Bitstamp) is the very same as at the start of this year.....(not many stocks can say this now).
If it really dumps....I will buy more :cool:
 
Hoi said:
By the way: the current price ($720 at Bitstamp) is the very same as at the start of this year.....
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True but we were supposed to be up by 150% by now. :)

(And a few hours ago it was 15% lower, $619, few stocks can say the same.) It basicly reached a 50% drop from the all time high...and dropped 23% in 26 hours....

On the plus side, nice recovery....
 
Pekelo said:
True but we were supposed to be up by 150% by now. :)

(And a few hours ago it was 15% lower, $619, few stocks can say the same.) It basicly reached a 50% drop from the all time high...(time for a bounce)
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Indeed and correct. Nothing new and out of the ordinary for a logarithmic asset in a low liquidity environment. As long as each Low is 50% of each next High, then we are still in an Uptrend (which is the case for 5 years). Actually a good moment to buy now for the next run up later this year (maybe early next year).

If you study these indicators, you will see that last months user base has grown 20% repeatedly (I have no doubt at all, that this will go on):
http://www.bitcoinpulse.com/
 
Hoi said:
Ignorance, my friend, is your greatest enemy.
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I'm a REALLY smart guy with LOTTTTTS of money. You gonna call me ignorant? (I ain't Marilyn Vos Savant, but my IQ is about 140.)

I'm not sure Bitcoint is a "fool's errand", but looks like it. If it ever plays out, I'll be among the first to claim I was wrong. But so far, I'm still of the opinion Bitcoin is backed by "speculators and hopers" with their head in the clouds.
 
Scataphagos said:
I'm a REALLY smart guy with LOTTTTTS of money. You gonna call me ignorant? (I ain't Marilyn Vos Savant, but my IQ is about 140.)

I'm not sure Bitcoint is a "fool's errand", but looks like it. If it ever plays out, I'll be among the first to claim I was wrong. But so far, I'm still of the opinion Bitcoin is backed by "speculators and hopers" with their head in the clouds.
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If you want to transfer value to someone abroad are you going to use Western Union and pay a 10-30% fee or bitcoin and pay 0.0001 bitcoin?
 
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