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Dumb question I genuinely don't know the answer to: what's to stop me from buying a hundred Bitcoins from MtGox for $26,000 and selling it elsewhere for $60,000
by brandonhsiao 13y ago
Dumb question I genuinely don't know the answer to: what's to stop me from buying a hundred Bitcoins from MtGox for $26,000 and selling it elsewhere for $60,000?
- grey-area 13y agoThey won't let you withdraw in any currency afaik.
- wmf 13y agoYou don't have $26K deposited in Gox and by the time you could do it the opportunity will be over.
- UVB-76 13y agoMtGox have halted withdrawals, so you can't sell the coins elsewhere at the moment.
- mediocregopher 13y agoIt's not currently possible to withdraw your 26k worth of BTC from MtGox, and for a long time now it is very difficult to withdraw USD as well. You could buy 26k of MtGoxBTC right now and wait for them to start withdrawls back up, and that would indeed net you a nice bit (assuming the market doesn't fluctuate very much during that event). However, right now it seems most are betting against that ever happening.
- dpanah 13y agoMt.Gox is the only one who can withdraw whatever it wants from Mt.Gox. Its not a regulated field here. Be Mt.Gox, sit at the bid and buy all the Bitcoin you want for $260ish. Get it over to hidden accounts \ people you took the time to set up in the last X months and sell at $600ish. Laugh all the way to the bank........million and millions and let all you guys A. Believe in Mt.Gox or B. it goes out of biz, who the flying fuck cares, they just cleaned up.
- brosco45 13y agoThere is a sucker born every minute, and a rich one every 20 minute.