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Old 02-15-2014, 11:59 AM   #12646
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Re: Bitcoins - digital currency

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Originally Posted by fnx99 View Post
does anybody consider trying to buy coins @mtgox and hope for the best (similar to ftp)

current price $360 @ mtgox
I did
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Old 02-15-2014, 01:25 PM   #12647
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Re: Bitcoins - digital currency

I wouldn't deposit fiat at MtGox! This site seems to be selling MtGox BTC at 80% the MtGox rate:
https://www.bitcoinbuilder.com/

(Can't vouch for it's safety but seems to be popular on Reddit).
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Old 02-15-2014, 03:13 PM   #12648
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Re: Bitcoins - digital currency

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Originally Posted by Gullanian View Post
I wouldn't deposit fiat at MtGox! This site seems to be selling MtGox BTC at 80% the MtGox rate:
https://www.bitcoinbuilder.com/

(Can't vouch for it's safety but seems to be popular on Reddit).
from what I can tell, it is trading only in terms of btc, so, you would actually profit by buying btc there in fiat, and trading for "real btc".

as of right now coinbase is 653, mt gox is 392. so you can buy btc at 60% true market value, and sell at 80%. there isn't a ton of liquidity, but if you have a small amount of fiat on gox, it seems like you can get it off almost immediately, while making a profit.
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Old 02-15-2014, 04:04 PM   #12649
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Re: Bitcoins - digital currency

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Originally Posted by notaveryclevername View Post
if you are serious, you got some giant balls. if everything works out, you'll make a killing though. it is possible that gox already sold a bunch of btc on their own site, then bought back on the other exchanges. this could explain the massive flip-flop of their btc price. now nobody is depositing any money, so their prices aren't adjusting yet. it seems like a good way to entice people to deposit funds, or cancel their usd withdrawals( ****, you been waiting 2 moths anyways, might as well get some "cheap" btc if I can't get my cash, right?). plus, they could have made enough money to cover their losses. I can't think of any other good reason the prices could have gone from massively inflated to massively deflated so quickly.
the only reason why i am doing this is because i already have a verfied acct on gox.

It took them 2 weeks to verify earlier last year, certainly before all original btc hysteria recently. I was just a bitcoin fish back then and only felt that I could trust the biggest site.


Otherwise, I wouldnt waste time trying to put money onto the site.


I am not looking to buy at 60 and sell at 80. I would only buy to hold and invest into a few places

Last edited by aggo; 02-15-2014 at 04:10 PM.
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Old 02-15-2014, 06:21 PM   #12650
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Re: Bitcoins - digital currency

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Originally Posted by aggo View Post
the only reason why i am doing this is because i already have a verfied acct on gox.

It took them 2 weeks to verify earlier last year, certainly before all original btc hysteria recently. I was just a bitcoin fish back then and only felt that I could trust the biggest site.


Otherwise, I wouldnt waste time trying to put money onto the site.


I am not looking to buy at 60 and sell at 80. I would only buy to hold and invest into a few places
if you believe that gox gives you high enough of a % to get your btc out at some point, then that's obviously the better way to go. my response above was just saying that right now, no matter how you look at it, gox$$$ is worth more than real$$$. its kind of odd to think of it that way, but right now its true. I think people are still pricing gox$$$ the way they were last week. I know that I had it backwards til I saw the trading going on for goxbtc, and actually compared prices across exchanges.
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Old 02-16-2014, 06:04 AM   #12651
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Re: Bitcoins - digital currency

If anyone have fiat stuck in Gox, PM me and I will help you get it out at 100%.
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Old 02-16-2014, 10:30 AM   #12652
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Sounds sketchy
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Old 02-16-2014, 11:08 AM   #12653
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Re: Bitcoins - digital currency

I have already helped a couple of people on Bitcointalk doing this and I will provide my name there to anyone who is interested. In addition we will be using Bitcoins to move the money so no risk of charge back. Also done successful trades involving Bitcoins here on twoplustwo with sethseth and shoemaker.

Last edited by Calpeman; 02-16-2014 at 11:33 AM.
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Old 02-16-2014, 05:12 PM   #12654
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Re: Bitcoins - digital currency

oh well in that case doesn't sound sketch at all
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Old 02-16-2014, 11:29 PM   #12655
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Re: Bitcoins - digital currency

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Originally Posted by uke_master View Post
oh well in that case doesn't sound sketch at all
I assume this is sarcastic. I don't know anything about the above poster specifically, but I do know that there are actually legit posters on bitcointalk buying goxbtc at 70 cents on the btc. the price seems to be gradually dropping though, so not sure how long 70% return on goxbtc will last.
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Old 02-17-2014, 02:49 AM   #12656
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Re: Bitcoins - digital currency

Yes, I pretty much want to gamble that Gox is solvent and will start paying out again soon. Helping someone get 100% of their fiat money out will give me a better deal than the 70% most people are offering. No problem going first with anyone reputable.

Last edited by Calpeman; 02-17-2014 at 03:07 AM.
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Old 02-17-2014, 06:26 AM   #12657
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Re: Bitcoins - digital currency

New update from mtgox

My prediction: Mtgox by limiting the BTC cashouts will create fear in the opposite direction from what we have now. Once the cashout faucet is opened even slightly (BTC that is, fiat is ****ed) there will be a lot of buying pressure. I think it will push if not go beyond the last all time high ($1200) on mtgox alone because of panic buying to get out.

Other exchanges will follow slightly but still be far behind, just like earlier.

Thoughts?
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Old 02-17-2014, 07:08 AM   #12658
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Re: Bitcoins - digital currency

Shoe, came here to post the same thing.
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Old 02-17-2014, 07:18 AM   #12659
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Re: Bitcoins - digital currency

I am starting to think they somehow have managed to lose the key to one of their cold wallets. Limiting BTC cashouts makes no sense. A limit on the number of withdrawals I could see, but not the amount of BTC in each. It seems they are trying to keep funds trapped to generate trading fees and recover that way. If this is true it makes sense that they would issue the first statement blaming it on the protocol trying to drive prices down.

On the other hand if the above is true it is very strange that the price is so low on Gox compared to Stamp as one would assume gox would be buying BTC themselves. You would also expect this latest update to be worded in a way to create more fear.

This situation is so confusing and makes so little sense that I think there is a fairly large chance something shady is going on. Exactly what it is I have no idea.
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Old 02-17-2014, 07:37 AM   #12660
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Re: Bitcoins - digital currency

Quote:
Originally Posted by Calpeman View Post
I am starting to think they somehow have managed to lose the key to one of their cold wallets. Limiting BTC cashouts makes no sense. A limit on the number of withdrawals I could see, but not the amount of BTC in each. It seems they are trying to keep funds trapped to generate trading fees and recover that way. If this is true it makes sense that they would issue the first statement blaming it on the protocol trying to drive prices down.

On the other hand if the above is true it is very strange that the price is so low on Gox compared to Stamp as one would assume gox would be buying BTC themselves. You would also expect this latest update to be worded in a way to create more fear.

This situation is so confusing and makes so little sense that I think there is a fairly large chance something shady is going on. Exactly what it is I have no idea.
Almost certainly they can't currently cover all of the BTC deposits (or the fiat ones for that matter) so they have to limit the withdrawals in the hope that the situation rights itself before they have to admit insolvency.

edit: oh, and imo the reason is more likely to be theft, imcompentance or embezzlement than the loss of a cold storage key
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