Owners of goxBTC may for example:
- Believe that Gox has fallen victim of an unreported theft, hack, scam or seizure and do not have the full amount of coins
- Believe that ongoing investigations result in seizure which may take years and may result in BTC returned as fiat
- Need the money which Gox has kept hostage for weeks in case of many
- Prepare to sue Mt.Gox or do something damaging to them and just want to get the money out from retaliatory action by Gox
- Have insider information.

; all with certain probabilities.

In every scenario, the actions of Mt.Gox are most contemptible. The price of goxBTC, which has been around 83% lately, reflects the level-headed analysis by market participants, concerning what is the confidence that Gox will surrender the money. Prior to this, goxUSD has been trading at 80%. Even inside of Gox, the market has currently given up hope to get coins out, because they are trading at 5% discount even relative to goxUSD, which we have known for long, is a high-risk variable income paper, and nothing resembling a currency.

Let's not clutter this thread with the needless debate re:why the fuck they are not acting as normal people..

Market has spoken and today goxBTC was 83%. Unless others give other figures.

I'm wondering what could be the best way to short mtgoxBTC.

Just borrowing them and selling them could work, since worst case scenario it couldn't go up to more than 100% in value, so at most you risk the price difference between your rate and 100.
However technically if mtgox stops processing even internal transfers, you would just not be able to return the sum, so you would have to agree in advance what happens in that case.

Am I missing anything?

Hi guys, still willing to buy goxBTC at 80%.

Successfully completed deals with gabbynot, rpietila and bimmerhead (from this thread).

Need to get some sleep now, will check PMs first thing!

Ingoring all the FUD, trolling, and speculation - lets look at the facts:

Negative:

-mt gox suspended all USD withdrawals last June which has since not been re-enabled
-other currencies such as Euro and JPY experience extreme delays
-bitcoin withdrawals have experienced intermittent problems for the past few months
-bitcoin withdrawals are currently disabled
-customer service is very slow to respond

Positive

-In 2011, 250,000 bitcoins were stolen from mt gox but customers were made whole by mt gox
-In 2013, $5 million was seized from mt gox by the US government but no customer funds were lost
-In nearly 4 years in existence, there are no confirmed reports of customers losing funds at the fault of mt gox. 
-Customers have always had an avenue to withdraw funds in one form or another until now.  Only $ withdrawal has been completely disabled.


Conclusion:  Most likely funds will be returned to customers but there may be long delays.  Mt gox admin is incompetent for allowing bitcoin withdrawal problems to fester for so long when it was the only legitimate source of withdrawing funds.  This is bitcoin - programmable money - there are probably multiple solutions to the bitcoin withdrawal problem and no other exchanges are experiencing the same problems.  The chances that you recieve 0 of your funds are pretty slim IMO.  Even if legal action has to be taken, you should eventually revieve at least a portion.


I dont need the funds any time soon.  I am taking a risk here because I am sure the exchange rate will lower if the problem persists.

My offer - I will sell goxBTC for real BTC at 99%.

Does one need to be verified on Gox to receive and withdraw BTC?

Amazed at all the people stashing yearly fucking salaries on an exchange that has proven unreliable over and over.

Will do escrow if anyone here wants (see my trust rating) or can help with a multisig transaction, see -> https://coinb.in/multisig/

Best of luck guys.

Maybe you should try to start a vote to get GoxBTC onto Cryptsy?