Bitcoin Forum

Just exactly what it says on the tin: with the deluge of really appalling stories coming out ("someone made a mistaken deposit" being the latest installment of wtf) adding to the backwater talk of insanity going on over there I'd like to know if anyone is actually getting money to or from MtGox at all.

Please post if you have made a deposit and it made it in time, please post if you've made a withdrawal and was paid on time. On time means on time, not a week late, not a day late. Specify if it worked as expected or if you had to contact support. Specify the method of payment, if possible. Specify (if you want to, it'd be helpful), the degree of magnitude of the sum involved. 10^2? 10^5?

Thanks.

Made a deposit.  Dwolla took the usual week, but Mt Gox processed the Dwolla deposit in only 3 minutes.

This was on the order of 10^3 USD  :)

Ah right, thank you for that.

10^4 Dwolla deposit pending since 11/19.  

Hum.

I made the following withdrawls to my bank account:
2012/11/28 : 1000EUR
2012/11/27 : 1000EUR

No money received yet :(

Reply from support: "Due to the banking withdrawal limits imposed on our account, there has been a delay for EUR withdrawals from the huge volume of withdrawal requests, but all of them have been queued for processing accordingly."

That's not true - my limit is 10 000 EUR / 30 days.

Still waiting to get my money!

You might want to give Bitcoin-Central a try.

I'm pretty sure they were referring to the their own limits imposed by the bank on their account, not the limits of your MtGox account. Surprised you received that answer though. I've also experienced something similar, about a month ago, for a 1k+ EUR withdrawal. After 2 weeks of waiting, I just canceled my  request, bought BTC, sold on USD market the BTC and cashed out the USD voucher through aurumexchange. However, during my waiting time, the only answer I got from their support was "Your withdrawal is confirmed, it will be processed soon" :)
Now I simply switched to bitcoin-24 which are simply the best option in my opinion for EU customers.

JPY deposit (transfer happens same day in Japan) took them two weeks and much nagging to credit my account.  Last time I deal with them.

I guess the delay isn't as bad as the nagging.

Maybe Mt Gox should hire a payment processor if their withdrawal limits are so low, hint hint.

Word.

I'll leave you guys and go back to casually hanging around in #mtgox on IRC :D

Heavy traffic ,for me 17 days delay period last time  :D

Wow that sucks. I wonder what is the hold up.

They don't like the competition he's providing them?

I find it hard to believe they are operating full reserve.   All the lame excuses, avoiding answering simple direct questions, and persistent unexplained delays that everyone is experiencing are signs of a liquidity squeeze and lack of liquid assets IMO.

I tend to agree that it appears they are doing fractional reserve "banking".

This should be make public to their customers. It's not like the majority of us here do not know how a ponzi bank is operated.

In truth this week old thread is not painting a very pretty picture. For the single customer in the hundreds there's multiple complaints in the thousands.

This weekend I did a decent sized transaction and it went flawlessly.

I wired money to Gox, it was credited to my account the next business day in Japan, I spent it, withdrew BTC, the BTC were delivered instantly.

I had questioned whether I was charged the correct fees, put in a support ticket, it was answered within minutes (surprisingly, because I expected it to be the middle of the night in Japan, perhaps they have support people elsewhere).  Based on support's answer I was able to resolve my own concern (mostly discovering that yes the fees I was charged were correct).

Are they holding a full reserve?  Who knows.  If they could prove it, I'd probably be willing to leave money there instead of wiring in and GTFO'ing with bitcoins.  The fact that they don't offer this proof is, in my eyes, a major flaw, but also a wide open opportunity for competition to outdo them.

Aha! One problem all services face is that the unhappy are likelier to comment than the satisfied.

requested two withdrawals to the tune of >10k€, two weeks later inquired, was told that mtgox had met some "withdrawal limits".

wtf?

selling mtgox € codes at 1% ^__^

Yup, that can happen with regular corporate accounts ;)

what angers me is that

- they'll just let my withdrawal sit there for two weeks
- no notice of the delay
- no notice of how big the backlog is
- just a textblock "lol sry, inconvenience amirite?"

while mtgox utter lack of competent *proactivebuzzword* user interaction is nothing new to me, i will add.

so now i have half my money tied up at mtgox with jackshit i can do about it.