[ExI] Bitcoin - Mt.Gox
gts_2000 at yahoo.com
Tue Sep 10 15:18:20 UTC 2013
Brent Allsop <brent.allsop at canonizer.com> wrote:
>And, where do you guys buy your Bitcoins, where do you hold them
My first three purchases were at Mt. Gox. Since then I've made a couple of more at Coinbase. I store them now in my local wallet.
> Albeit the seizures of Dwolla e WF accounts were serious they do not put
> the solvency of MtGox in danger.
Do we know this for a fact? Has Mt. Gox released any information about its finances? I haven't seen any.
> Anyway, if people is in a hurry to get their fiat money, my
> understanding is MtGox allow them to request a expedited withdrawal that
> is manually processed by their bank and cost 5% of the sum transmitted.
A 5% cost to get access to one's own USD in a timely fashion seems exorbitant to me. My experience with Coinbase has been much better, and I'm not even fully verified there.
> So I'm optimist with Bitcoin just because I see the previous system
I'm optimistic, too, but staying away from Mt. Gox for now. Here is an interesting article about Mt. Gox, its problems, and the spread vs other exchanges:
How Bitcoin Spreads [at Mt. Gox] Violate a Fundamental Economic Law
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