The money in circulation today ($USA) is 1,18 trillion dolars (data 20.03.2013, Federal Reserve). Gold minted during our presence here is now 171,300 metric tons. Therefore there's $6,888.5 per kilo of gold. The current (27.03.2013) gold value per kilo is $51,267 (
http://goldprice.org/) which means this is overpriced about a factor of circa 7.5. That's because NOT ALL of gold is available for trading.
So European and Chinese people are not allowed to buy gold unless they use dollars? ;-)
My contribution to the current events:
// ==UserScript==
// @name R.I.P Mt. Gox
// @include /https?:\/\/bitcoincharts\.com\/markets\//
// @author derjanb
// ==/UserScript==
$('*[id*="mtgox"]').remove()
I'm unsure whether it was menitioned before:
Every coin the thefts have withdrawn from Mt.Gox was somehow doubled in the past. It was most probably sold by the thefts _and_ it was blananced at the Gox user accounts.
So now there are a lot of people that have less bitcoins than they thought they would have a week ago.
you mean 7% of the coins "gone" = 7% price rise ?
Its more like x% of the coins traded are gone = x% price rise.
I don't know, but the price is extraordinary strong in the light of the current events.
What idiot that is capable of stealing 750k of coins is going to risk it even entering an exchange? How many hacks have we seen of X amount of coins enter the free market? None? We will probably never see those coins again since it going to be sold in large chunks to heavy hitters.
That's why coins are stolen: to be never used again...
Do you know the addresses that got double, triple, endless payouts from Gox? If so we can check if the coins are still there.
Why not using mixers, gambling sites and so on to stray the coins and then sell them?
Did you remember your feelings 24h ago??? Bitcoin is an awesome thing! (to kill yourself)
Every time you feel bad it's probably the best moment to buy more bitcoins.
If 7% of all bitcoins really are gone then the price rise would be more like 30% because the 7% were from the actively traded float, not from the several million hoarded and locked away in Arctic-cold storage.
You seem to be forgetting that there were also a lot of fiat afloat at mtgox that was meant for BTC. BTC will lose that fiat, and probably any new fiat that would of came from those who owned it.
It's fun to see how everyone are trying to downplay the gox situation and are trying to make this look good.
I don't think in fiat anymore. Just kidding...
There was no leak at their fiat account, right? Only their BTC deposits was narrowed by the thefts.