Mt. Gox Halts Bitcoin Withdrawals, Price Drop Follows

#1

Post by zende » Fri, Feb 07, 2014, 1:22 PM UTC

Mt. Gox Halts Bitcoin Withdrawals, Price Drop Follows
coindesk.com

Re: Mt. Gox Halts Bitcoin Withdrawals, Price Drop Follows

#2

Post by aw3c2 » Fri, Feb 07, 2014, 1:48 PM UTC

Oh no, my college fund investment!

Re: Mt. Gox Halts Bitcoin Withdrawals, Price Drop Follows

#3

Post by Xdes » Fri, Feb 07, 2014, 1:49 PM UTC

I think all of us veteran Bitcoin users saw this coming for awhile now. It's all the new users (<1 year) that are affected. They tend to disregard our advice to steer clear of Mt. Gox (and holding their BTC in an exchange like a bank). They're probably the same people who keep supporting scammers like BFL.

Re: Mt. Gox Halts Bitcoin Withdrawals, Price Drop Follows

#4

Post by lectrick » Fri, Feb 07, 2014, 1:50 PM UTC

Buy when there's blood in the streets (assuming the fundamentals are still good, which it looks like they are...)

http://www.bitcoinpulse.com/

Re: Mt. Gox Halts Bitcoin Withdrawals, Price Drop Follows

#5

Post by maxerickson » Fri, Feb 07, 2014, 1:50 PM UTC

lectrick wrote: post #4

Buy when there's blood in the streets (assuming the fundamentals are still good, which it looks like they are...) http://www.bitcoinpulse.com/

Can you explain what you consider to be the more important fundamentals for bitcoin?

Re: Mt. Gox Halts Bitcoin Withdrawals, Price Drop Follows

#6

Post by nkuttler » Fri, Feb 07, 2014, 1:57 PM UTC

maxerickson wrote: post #5

lectrick wrote: post #4

Buy when there's blood in the streets (assuming the fundamentals are still good, which it looks like they are...) http://www.bitcoinpulse.com/

Can you explain what you consider to be the more important fundamentals for bitcoin?

Number of users.

Re: Mt. Gox Halts Bitcoin Withdrawals, Price Drop Follows

#7

Post by yebyen » Fri, Feb 07, 2014, 2:02 PM UTC

Xdes wrote: post #3

I think all of us veteran Bitcoin users saw this coming for awhile now. It's all the new users (<1 year) that are affected. They tend to disregard our advice to steer clear of Mt. Gox (and holding their BTC in an exchange like a bank). They're probably the same people who keep supporting scammers like BFL.

I bought some Jalapeños from BFL after my January order was not shipped until August, in the Black Friday sale.

The sale was advertised as "units in stock, ready for immediate delivery"

When they came (something like a full month later) they were approximately double the spec of the devices I thought I had ordered, but still for the same price. Thanks, I guess?

I can't say if they're shipping any faster now, but if the trend of decreasing wait times has continued, I'd expect that by now, they'll be competition for Amazon's rumored new "ship before you order" practices.

Honestly for the new customers, if their ASIC parts were actually delivered in less than two weeks, I would have to say you're not getting the full BFL experience anymore, and you should probably ask for a refund.

I will probably not order from them again.

Re: Mt. Gox Halts Bitcoin Withdrawals, Price Drop Follows

#8

Post by plg » Fri, Feb 07, 2014, 2:04 PM UTC

I'm not bitter that when bitcoin was ~ $1/btc I almost bought 1,000 btc ... no not bitter at all

:|

Re: Mt. Gox Halts Bitcoin Withdrawals, Price Drop Follows

#9

Post by yebyen » Fri, Feb 07, 2014, 2:04 PM UTC

plg wrote: post #8

I'm not bitter that when bitcoin was ~ $1/btc I almost bought 1,000 btc ... no not bitter at all :|

Cheer up, some of us actually had bit-fortunes and lost them at Satoshidice :)

Re: Mt. Gox Halts Bitcoin Withdrawals, Price Drop Follows

#10

Post by mason55 » Fri, Feb 07, 2014, 2:07 PM UTC

lectrick wrote: post #4

Buy when there's blood in the streets (assuming the fundamentals are still good, which it looks like they are...) http://www.bitcoinpulse.com/

Outside of Mt Gox prices haven't really changed since yesterday. The only difference is that Mt Gox's $100 premium is gone now.