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    Author Topic: MtGox withdrawal delays [Gathering]  (Read 909058 times)
    bitcoinmarketmaker
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    put me on speeddial#1


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    October 20, 2013, 09:08:44 AM
     #2021

    An exchange cannot function if you can't get your money out. In the real world, if I went to any of the broker-dealer like interactive brokers or Goldman Sachs prop trading, and I can't wire out my money in the standard 24-48 hour window, major panic ensues and it will be on the CNBC front page.

    Only reason no one gives a shit about Mt. Gox taking months to wire money out is most have no clue. But now even their bitcoin is getting delayed by days, which is a sure sign of liquidity problems. 
    Exactly.  I get the impression that many people in the Bitcoin world have no clue what happens when a real broker defaults on their obligations. They're effectively out of business within hours, as other brokers won't deal with them, and they're closed down within days.

    As a former prop trader & derivatives marketmaker at one of the big firms I can only agree with the comments above, which sums up all you need to know, everything else in this topic is just noise. I am still watching this topic for the entertainment value.

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