Bitcoin crashes again, China buys a lot

Yesterday Mt. Gox announced that withdrawals of cash and bitcoins are temporarily disabled, blaming the bitcoin protocol. (While actually it’s only their fault: they assumed that the transaction id is unique and not editable, allowing scammers to duplicate their withdrawals…)
Obviously such a news made the bitcoin value tank. Watching on, you can see that Chinese people gladly bought the “discounted” bitcoins, buying them in mass (600 bitcoins in 10 minutes!!!)

Mt.Gox doesn’t pay, bitcoin tanks

Have you ever searched how much is a bitcoin worth? If you did it, probably you would have noticed that Mt. Gox valutation is much higher than other exchanges, in average up to 20% more. This not only recently, but it was always like this. In fact, Mt. Gox only did up to 25 bank transfers daily, meaning that if you asked today, you would have got the money after six months!
Today they totally blocked the cash withdrawals, and bitcoins withdrawals are also having some problems.
So, panic, and the bitcoin value is tanking.
Will it be back? Well, on bitcoin you can see the whole orderbook, and you can see that there are “buy” orders for thousands and thousands of dollars, in order to get a “discounted” bitcoin. After all there are only 12,3 millionsavailable right now, and no more than 23 millions can be minted. It’s a rare asset, and it’s in the human nature to hoard it as much as possible

Warning: MetaTrader 4 update!!!

Recently Metaquotes is rolling out the update 600 of their MetaTrader 4.
They were crazy enough to:
  • Make the update automatic and mandatory for everyone
  • Don’t warn anyone
  • Change the directory structure (that was unchanged from the past NINE years), just to mess with EA and indicators that supposed that the files position will never change
  • Change how some MQL functions are working, in this way many EA or indicators will stop working correctly
I’m really speechless, how it’s possible that they release a such destructive update, without warning and automatic for everyone???