You can now sell your Gox Bitcoins for real bitcoins

Pekelo · Feb 20, 2014

peilthetraveler said:
So much for that buy wall...just broke

It didn't break (wasn't eaten up) just was placed lower.

Hey did you notice that BTC is a commodity, according to the Winklewii?:

"The Trustâs purpose is to hold bitcoins, which are a digital commodity based on the math-based protocols used by the decentralized, peer-to-peer Bitcoin computer network"

peilthetraveler · Feb 20, 2014

Didn't they just come out with an index for bitcoin or something...I think called the winkdex or something weird like that

peilthetraveler · Feb 20, 2014

Pekelo said:
Guess what? If the Winklewii get their BTC ETF going it will be possible to fractional reserve with it:

"Since there is no limit on the number of bitcoins that the Trust may acquire, the Trust itself, as it grows, may have an impact on the supply and demand of bitcoins that ultimately may affect the price of the Shares in a manner unrelated to other factors affecting the global market for bitcoins. The Trust Agreement places no limit on the number of bitcoins the Trust may hold. Moreover, the Trust may issue an unlimited number of Shares, subject to registration requirements, and therefore acquire an unlimited number of bitcoins."

They just filed the S-1 application today....

heres a copy for everyone to read. http://www.sec.gov/Archives/edgar/data/1579346/000119312514058712/d562329ds1a.htm

newguy05 · Feb 24, 2014

Looks like mtgox is finally done!!

trading halted, website blank page, gox.com domain sold, joint statement by other exchanges released to reassure confidence ( http://blog.blockchain.info/2014/02/25/joint-statement/ )

Everyone going batshit crazy. Price just hit below $500.

Bought 10x more @$495, will be monitoring the prices, will keep buying 10x more for every $100 drop if it ever happens.

This one is for the history books, hope mtgox is finally dead and buried.

badnewsbear · Feb 25, 2014

newguy05 said:
Looks like mtgox is finally done!!

trading halted, website blank page, gox.com domain sold, joint statement by other exchanges released to reassure confidence ( http://blog.blockchain.info/2014/02/25/joint-statement/ )

Everyone going batshit crazy. Price just hit below $500.

Bought 10x more @$495, will be monitoring the prices, will keep buying 10x more for every $100 drop if it ever happens.

This one is for the history books, hope mtgox is finally dead and buried.

This is how bitcoin bugs lose all their savings.

newguy05 · Feb 25, 2014

badnewsbear said:
This is how bitcoin bugs lose all their savings.

Not exactly, i sold many casascius coins at ~$2k a pop until paypal banned my account, most of those cost me nothing but an initial $3k investment in mining hardware. Just converting a small percentage of the winnings back into bitcoin at <$500. Bought more at $408, will check again in the morning, wonder if it will hit $300. Strange days...

panic panic panic!

smallStops · Feb 25, 2014

newguy05 said:
... sold many casascius coins at ~$2k a pop
... , most of those cost me nothing but an initial $3k investment in mining hardware.

very interesting

Zr1Trader · Feb 25, 2014

BTC-E went down to around 100 a few days ago on that flash crash market sell. But with the gox news I thought it would do that again and I'd get my final fill at 75....not the case, has held up better than I thought. Currently>500

Twitter stream literally filled now with btc hate and I told you so due to mtgox being corzined....lol

As if the government 5 million dollar fine and $5000 dollar withdraw limits weren't warning enough to know mtgox was insolvent long ago.

newguy05 · Feb 26, 2014

Btc back to $600 higher than pre mtgox. +3k unrealized gain from the btcs bought since last night. Haters will hate

Zr1Trader · Feb 26, 2014

newguy05 said:
Btc back to $600 higher than pre mtgox. +3k unrealized gain from the btcs bought since last night. Haters will hate

It's funny because there are two groups of hate.

the hardcore tech guys who don't understand markets think that the more speculators in btc is bad, when actually that would stabilize price , add liquidity and be good.

Then you got the hardcore finance guys who don't understand the tech of bitcoin whatsoever. They think it's just a giant ponzi when in reality the value is in the tech and network.