You can now sell your Gox Bitcoins for real bitcoins

Discussion in 'Cryptocurrencies' started by peilthetraveler, Feb 12, 2014.


    Pretty ingenious. If you have bitcoins stuck in gox, you can trade them for real bitcoins (at a discount of course) Seems like it works like buying someones debt. You pay pennies on the dollar for them. If I had bitcoins at Gox, I would definitely be selling. Not really too bad of a price either...around 80 cents on the dollar, so you can sell your gox btc for about $450 each.
  2. whoever buying 0.8 on 1 must be retarded.

    mtgox 1btc = $574
    coinbase 1btc = $672

    you are losing 15%+ right off the bat wiping out most your 20% gain. And not factoring the minor details like cant get your btc or money out and mtgox is dead.

    will need to be at least 0.5 on 1
  3. Hmm...seems you are right. I got a little confused there thinking they were paying 80% of gox price since they only list the gox btc price.
  4. mtgox 1btc = $360
    coinbase 1btc = $650

    Looks like i was wrong, spread is now ~45%, more like 0.25 on 1. Those assholes at mtgox have a license to print money: buy their own cheap btc from panic sellers, don't allow anyone else to transfer out but themselves, sell on coinbase for an instant 100% gain, rinse, and repeat. Maybe that's the plan all along, that fuck mark karpeles is a criminal
  5. clacy


    So, for someone that isn't really following..... is this whole Bitcoin thing falling apart now?

  6. No, its just one of the first bitcoin exchanges that is falling apart right now(Mt. Gox) They were the "go to" guys that the media used when quoting bitcoin prices (because they were always $100 higher than every other legit exchange).

    Mt. Gox decided to blame bitcoin for its problems causing this crash. Its a little bit like a bank failing, but instead of blaming the CEO for making bad decisions, they blamed the dollar.
  7. mtgox 1btc = $130
    coinbase 1btc = $600

    heh this is turning into a cds on mtgox.
  8. Last night there was a huge buy wall at $261. Looks like another buy wall at $130.
  9. Pekelo


    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....
  10. So much for that buy wall...just broke
    #10     Feb 20, 2014