windjc
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October 31, 2013, 11:38:52 PM


A lot of USD users have funds stuck in Gox?  Why? They have had ample time to buy BTC, move the BTC to another exchange and sell for a profit. The market is up over $100 in the last month. If they have $$ in Mtgox its because of a combination of greed and/or stupidity.

Whales can't justify a big loss? A big loss of 5%? Really? Come on. Again, only greed and or stupidity would make that true. Plus the ONLY way to lose is to have not sold and gone to another exchange while waiting maybe at the MOST a week in between.

The exchange going down?  Why would that happen? They are making profits every day. There are helluva lot of Japanese traders in Mtgox getting their money within 3-5 days. I've personally spoken to many of them.

As far as Bitstamp is concerned, I believe they have already stated that they have redundancy in their banking.

No one has money "stuck on Gox".  That's the biggest load of horseshit that people keep pushing.  Gox fiat has had ample opportunities to get off (the current spread with Coinbase is like 3%) and people aren't doing it.  If anything, there's been selling pressure on Gox the last few days.  The spread with Stamp has consistently been under 5%.

Also, to the "whales justifying loss" point (not disagreeing with you), any whale who deposited fiat on Gox several months ago and took a 5% loss (by selling on Stamp, say) would still be up quite a bit.  Probably a shit ton.  There wouldn't be any "big loss".  We're trading over $200 again after all.

Right. It makes no sense.

In my opinion, the ONLY reason people still talk about Mtgox (and the SAME reason this thread is 100x longer than the Bitstamp thread) is that early adapters used Mtgox for years.  So they identify Mtgox with Bitcoin. The same way some people identified Silk Road with Bitcoin. People, like myself who found Bitcoin in 2013 don't equate Bitcoin with either.

Mtgox to me is a joke. And people's obsession with it is antiquated at best.