Bitcoin Forum

 As the MTGOX is having serious problem in withdrawing usd, I wonder is there anyone interested in (or is there such a service already?) a service like helping you get the funds out of the MTGOX. You send me the bitcoin and I transfer USD to your bank account, or Amazon Payments, or prepaid visa cards, or I pay your mobile phone bills. 3rd party escrow can be used. No Paypal.

I would pay 2% of premium for this service.
It is viable if you can open a bank account in Japan. Local transfer of USD only take a few days as said by some forum members.

I have thought about this as well. I have a bank account in Japan and getting money in and out of Gox is very easy for me. Deposits usually show up in my account on the same day  :o

The difficulty is getting the money to the US banking system. International wire fees are quite high (Sometimes $70 or more) so the amount being withdrawn would have to be substantial to make it worth the trouble.

If anyone is really interested, though, we could talk about it.

This service already exists with Bitcoin-Brokers.

Here is an 8000 view thread discussing the service:

https://bitcointalk.org/index.php?topic=237164.0

Essentially you withdraw your funds from MtGox in BTC instead of wire transfer. Escrow the BTC with Bitcoin-Brokers who directs cash buyers to make cash deposits into your bank account of choice.

Its a free service to sellers. It gets your BTC off of MtGox immediately and cash into your bank account.

Sellers are getting paid above MtGox for their BTC. This also saves the person from having to pay the wire transfer fees.

Withdraw your bit coins from mtgox. Use coin base to transfer to bank. Coin base is 1% fees. Plus I at least get same day deposits

Good business model. Sadly, you only support banks in USA and Canada, I could use your service otherwise.

will you buy me something on kickstarter aceapts amazon payments and i will pay you bitcoins ?

given MtGox current paralyzed status, I could see charging 1% or more for the service easily.

yes, interested.

Yeah, an EU bank will do wonders.
I can help with that. PM me if interested.

In case anyone finally decide to offer such a service, please PM me, I am definitely interested.
I would pay 2% premium with escrow and 4% without escrow(but you have to send me the money first).

I am definitely interested

I was going to suggest the same thing (or use another exchange you trust). Seems easier and less risky to use another exchange than going through a third party. I assume there are reasons that some people don't want to (or can't) do it this way, but I'd love to hear the specific reasons why some of you think a service is preferential to just using another exchange.

Off topic a little................. but I like your avatar. :)

BitQuick.co provides a service that could benefit you.

Check our thread: https://bitcointalk.org/index.php?topic=262082.40

To list your BTC instantly (USA, CA, EU banks!) go to https://www.bitquick.co/sell

You can sell your BTC for cash deposits OR SEPA transfer for our EU customers.

Best part, selling is FREE.

I guess it's not perfectly on topic, but I think my comment was related enough to be pertinent (and I'm glad you like the 3D animated GIF I created)!

So, I ended up coming up with my own answer to my question, when I remembered the large spread between the Gox price and the BTC price on other exchanges (including Coinbase). The spread is around 10%, so a Gox cash-out service charging 2% does make financial sense, vs. transferring to another exchange to cash out. It also allows for simple arbitrage opportunities.

Me, too.
Any feedback?

Just for the record, we've had 50 BTC sell out today. As soon as an order goes up, someone buys it. They are going for Mt. Gox last, 0% fee to sell as well.

I assume it's about withdrawing USD from Mtgox as BTC price is 10-15% higher than elsewhere. Then buying BTC at btc-e or bitstamp and resell them at mtgox for USD. Again and again :)

Why would you buy BTC at an Mtgox price - i.e. 15% higher then elsewhere?

Desperation.

On the other hand, selling at the Gox price makes a lot of sense.