BC Plunging Again...
 

22% in 20 mins...


Edit: Back up a bit - I wonder what is going on...

No doubt a pre-planned dip down to suck in a new batch of eager newbies whose funds and dreams of instants profits provide the liquidity the market needs.

Gox is under $170. I think this protest is causing rage sells.

http://www.ustream.tv/channel/mtgox-protest

Lol, what the fuck is this ? A protest of 4 people?

the 4th guy is a pedestrian that stopped to chat :mad:

Now this is a protest...

http://rt.com/on-air/ukraine-central-kiev-protest/

hehe I am seeing two hipsters on the sidewalk.

I thought I would buy some more now. How about you? Price is decent now.

If it goes below a 100 I will scrape together some money and buy some...

dont fantasize about actually getting any at the Gox price

here is the real price: http://preev.com/

of course it's plunging, I bought my first ever whole bitcoins this week. I may buy another one today, so if it goes down some more, you know I did :1orglaugh

well I didn't, but price is dropping like a stone...

Time to buy. It will go back up.

Gox under $100 (92 actually). Sad day for many.

Buy when others cry, right?

I thought GOX price was fake and actual price is $533, no? If yes, why do people post gox prices...?

Gox is causing the fear and uncertainty with bitcoin right now. Their price is causing other exchanges to drop.

There is still a possibility that coins from gox will be able to be withdrawn and sold on other exchanges. Everyone that bought under $200 will want to sell asap for $500.

:thumbsup:thumbsup:thumbsup

All new mtgox accounts need to be verified before you can do anything. The FAQ states this will take up to 10 business days.

In addition, if you fund your account by wire it will also need to be manually credited.

With the way things are now I wouldn't be surprised if the delays were longer than expected. Which means you're probably not going to be able to buy BTC for 20% of the price that the rest of the world is paying......

Because they have an incomplete understanding of the ecosystem.

Its taking a quick poo ?

I don't know why anyone wants a sponsor to pay them in this shit so that one day after getting paid it hits rock bottom.

mtgox fucked up people, asking why? what happened to them?

Whats happening at Gox is a combination of three things.

Technical issues
Shenanigans (looks like by both staff AND traders)
Ineptitude

Big money to be made right now on all the unfortunates who are fleeing the sinking ship

excuse my ignorance, but how? buy at mt gox? or?

Same question - Are MTGox going to get it together?..

If they do, lots of people are going to get rich - I just don't see it working - Its too obvious:2 cents:...

Not really clear how easy it is to get fiat into gox at the moment - I'm hearing mixed reports..I hear that if you have a Japanese bank account you can wire it right in...THEN of course you cant just take your BTC and run - BUT you can trade it at a bad exchange rate at https://www.bitcoinbuilder.com/ for "REAL" BTC - then sell it on another exchange - so even at the bad exchange rate you still make a handsome profit.

People are making big big money doing this right now as we speak - the bottom line is that there are people with large reserves of BTC stuck on Gox (they may have bought when the price was way below 100) and they are willing to dump and run.

gotcha. No jap account here but interesting anyway, thanks :thumbsup

there's always an angle, you just gotta find it, as I've been told by far richer men than I :)

Can someone explain, their site states bitcoin withdrawls are affected and defining that as sending bitcoin to another bitcoin address outside of their system but that currency withdrawls are fine. So if someone wants to buy some bitoin there and then withdraw the equivalent currency they still can - just not send bitcoin to someone outside of MtGox?

If you don't do business at Mt. Gox, forget about them. They will probably never recover. Just get busy somewhere else.

So if someone wants to buy some bitoin there and then withdraw the equivalent currency they still can = wrong

If you have cash there - you may be able to take that cash out...no loss or gain, but why would you? (when you can profit on it instead).

If you have BTC there you can not take it out - except by trading it for (a recent average of 0.35 to 0.39 Per - thats dropping fast) at https://www.bitcoinbuilder.com

So your BTC is "Stuck" in there.

If it were easy to get fiat currency into their system (it may be for some traders, especially Japan locals) then you can make quick easy money capitalizing on this clusterfuck - MANY are doing that right now.

This is certainly not certain. (I hope youre right though - big crash if they fail - big buy opps for us)

Are your USDs stuck on MtGox? Congratulations. You're in for a nice profit! If you follow these steps (self.Bitcoin)

submitted 5 hours ago* by Nooku

1) Say for example that you have $ 1000 on MtGox. Buy BTCs on MtGox at the current rate of 112.09 USD/BTC, giving you 8.92 Bitcoins on MtGox.

2) Open an account on https://bitcoinbuilder.com

3) Get verified ( takes less than 24 hours )

4) Bitcoin Builder will give you an internal MtGox address to deposit your MtGox BTCs to. Choose Withdraw Funds on MtGox and send it to this Bitcoin Builder address. ( transactions between internal Gox addresses still work )

5) You'll immediately see your GOX-BTC balance increase on the Bitcoin Builder website

6) Sell your GOX-BTCs for real BTCs at the awful rate of 0.43

This means, if you just bought 8.92 BTC on MtGox, the market at Bitcoin Builder will give you 3.84 real BTCs in exchange. That's an awful rate but don't worry, because...

7) Withdraw your, now real BTCs, to any wallet / exchange / etc. For example Bitstamp.

8) Sell your Bitcoins on Bitstamp at the current rate of 570 $ / BTC

9) Your 3.84 real BTCs are now worth $ 2189

10) Your $1000 that was stuck on MtGox, is now free, and worth $ 2189. That's almost 120 % profit.

11) You're welcome

Note: For more information on Bitcoinbuilder:

http://www.reddit.com/r/Bitcoin/comm..._gox_btc_real/

To get it unstuck, can't one trade it with other MtGox users?

https://www.bitcoinbuilder.com/faq.html

The big question is "Why isn't EVERY holder of BTC doing this"?

MOST don't know about this - of those that do...MANY are afraid it's bullshit..but those that BELIEVE it works are afraid Gox will suddenly go insolvent (it could) and they will get FUCKED. But one thing is certain, many risk takers are making $$$ off this right now.

I've laid out the ONLY way (that I've heard of) to get BTC stuck in Gox (Goxcoins) out of Gox...it wouldnt do any good to trade Goxcoins for other Goxcoins Huh?

Looks like there are more asks to sell than bids to buy (because Gox is so big) that will change soon I imagine - also the price will continue to drop so the profit margin will shrink until there is no incentive to take the risk - but right now...windfall. Wish I had more coin to risk :(

Ok, I guess I don't understand how MtGox works, by trade I meant one selling their MtGox bitcoins to another MtGox user thinking the sellers MtGox account would then be credited with the equivalent cash which one could then withdraw.

If you are a current BTC holder - I highly suggest you look into the links and info in this thread if you want to make some quick easy cash. If you arent then fogetaboutit.

For skeptical BTC holding lurkers: Check out the dude on BTCbuilder putting up 41k (equivalent) in real BTC for trade for Gox right now...looks like hes a believer. :thumbsup jesus H christ hes going to make 60k plus profit TODAY (if gox lives through the night)

edit: TODAY (if gox lives through the night) should have been SOON - if Gox survives to allow withdraws. No slam dunk I know :Oh crap

I doubt anyone could get verfied on gox now. I read about people waiting for 6 months to be verified (they're still waiting).

But if you like gambling, maybe wolf coin is for you.