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(a) seems to be the generally accepted reason behind the runup to $1200 but (b) is patently false. I sold coins on coinbase and mtgox during this period and rec
by Phlarp 11y ago
(a) seems to be the generally accepted reason behind the runup to $1200 but (b) is patently false. I sold coins on coinbase and mtgox during this period and received deposits of USD within the week. The amounts were all below the six figure mark, so perhaps there were individuals with million dollar or more holdings that had issues finding instant liquidity. However, I imagine this is true of almost all assets of comparable size.
- davidgerard 11y agoWhen were you getting money out of Mt Gox up to?
- Phlarp 11y agoI cashed out all of my bitcoin holdings during the boom times so I can't speak for anything past October of 2013, but I believe Gox was still cashing out to USD until mid December or so(?) and Yen for a few weeks past that. Honestly, anybody that left USD or BTC funds in Gox wallets for longer than a day deserved to lose them at that point in time. All the reasons were known then just as they are now-- if you don't personally hold and secure the private key, you don't actually own bitcoin. If you can't handle securing it (both from theft and loss) you shouldn't participate in the market as a speculator.
- davidgerard 11y agoyeah, that accords with other reports I've heard - that you could still get USD out of Mt. Gox up to October and past that it was a bit iffy.