

MtGox price: $160 to $270 to $212 to $290 to $199 to $250 in the last hour - sillysaurus2
http://bitcoinwisdom.com/markets/mtgox/btcusd?

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pmorici
This is probably because of a rumor that some small withdrawals have been
going through but baring an announcement from the company of a full resumption
I wouldn't be jumping on this bandwagon. Problem is no one has any proof what
is being seen on the block chain is anything except Gox moving coins around
internally. Maybe even to manipulate people. There is another thread of
discussion about how it's obvious none of the problems have been fixed.

[http://www.reddit.com/r/Bitcoin/comments/1ymb4r/some_light_o...](http://www.reddit.com/r/Bitcoin/comments/1ymb4r/some_light_on_the_horizon_for_gox/)

[http://www.reddit.com/r/Bitcoin/comments/1ymwzj/mtgox_still_...](http://www.reddit.com/r/Bitcoin/comments/1ymwzj/mtgox_still_authoring_invalid_transactions/)

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sillysaurus2
The reason I submitted this is because it's an interesting phenomenon that
fortunes can be lost or made so rapidly.

(An MtGox bitcoin can currently be sold for 0.4 bitcoin, so this was quite a
lot of money being lost or made over the last hour.)

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imog
Lost AND made. Every loss is someone's gain. :)

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Guvante
Not so with assets. If you value your Bitcoin at $1000 today and tomorrow it
is worth $800, you have lost money and no one gained it.

~~~
imog
You can short on various exchanges, so as the market price drops, lots of
people make a lot of money.

Even without shorting, as market price moves downward, it is only a loss for
those holding. Those who got out at $950, and bought back back in at $800 have
increased their holdings - as price fluctuates in the future, they increase
their leverage.

Finally, you are focusing on fiat which is a tunnel-visioned approach. When
BTC/USD drops, for those already in fiat it gives them more buying power. This
is a gain, as yesterday they only had 1 BTC worth of fiat, and now they have
1.2BTC worth of fiat.

So it all depends on perspective, and you are right in your view. However
there are many ways of looking at things, and my view isn't necessarily right
either. I would say they are all valid examples though, of different ways of
looking at it. Much harder to say which is "right".

~~~
Guvante
Well BTC went down 20%, but since 80% of my portfolio is non-BTC, my BTC
equivalent went up 20%!

Reality is you just lost quite a bit of money, but it makes it sound positive.
Not that you automatically make these mistakes, but it is trivial to do that
when letting your other currency float.

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awnird
When Magic The Gathering Online Exchange was at $1200, it meant that bitcoins
were at $1200. When they dipped below $100, it didn't count because: ...?

Can someone explain this?

~~~
imog
When bitcoin was around 1200 on gox, it was around 1150 on bitstamp, and 1100
on BTC-e... Similar with smaller exchanges as well. There was efficiency in
the market, and that is important.

It has been months now since Gox separated from all other markets. First their
value was hundreds higher than all others, but no one really cared because it
was irrelevant - you can't withdraw fiat, and bitcoin was having trouble
getting out too.

Then Gox value went below, and it was concerning so price on other exchanges
were affected, but Gox was still irrelevant because their problems are unique
to them, and not anything inherent with bitcoin. All withdrawals are shut
down, and their last update said there's no news since the last update, and it
didn't state when or if they would provide the next update on progress.

Also, your statement implies a consensus in market perception. Please don't
take that from whatever the media is saying. Or whatever people on the
internet are saying. Take it from the data - look at what the market is saying
on exchanges, with their money. Most people don't care what the price is no
Gox, and other exchanges are actively trading hundreds of dollars higher.

