Bitcoin Forum

While I'm fairly familiar with a concept of bitcoin and been following it for some time, I'm new to actual exchanges and markets.

I was under impression that mtgox is kind of norm before I came on this site, where I found lot of hate for it :)

Can anyone explain to me what's the problem with them?

Well from personally trying to use them I had a lot of trouble getting registered, they denied me a few times even though I sent in document they expressly designated on their site as the "correct" type of documents, so after this trouble I went to Coinbase and have been using them ever since.  I don't have personal experience with this, but I have heard that withdrawing your deposited money, not bitcoins, can be a pain with delays lasting up to a few weeks.

I see, thanks. I've sent them my documents the other day, and I'm waiting to see what's their response.

The big problem with gox is getting your cash out.

The delays are not merely weeks, but months.

These delays have meant that the cost of bitcoin on gox is higher than other exchanges (because there are more buyers than sellers, because sells can't get their money out).

So, gox is shitty place to buy (if you care about price), and a shitty place to sell (if you wish to withdraw your cash).

look no further

https://s15-us2.startpage.com/cgi-bin/serveimage?url=https:%2F%2Fwww.ccn.com%2Fwp-content%2Fuploads%2F2015%2F08%2FMarkKarpeles.jpg&sp=9fd5636f3bfc32a49e07b620f8749924

Mtgox also has no address, no ownership details, nothing.

I understand the anonymity of bitcoins, but should an exchange not have some form of proof of ownership, address etc?

Its a lot of trust to put into a place you are depositing cash/ coins?

Ive heard it is headquarters are in Russia, Bulgaria and Japan, so who really knows?

OK, as much as I loathe Gox this post is just ignorant FUD

we all know exactly who and where they are you fool

Thats a great response, so who are they and where are they from?

they operate out of offices in Tokyo

here, I will help you (http://lmgtfy.com/?q=Mark+Karpeles) since you seem new to this internet thing

Gox is experiencing serious difficulties interacting with the international banking system. Right now they're limited to sending out smaller amounts via SEPA to European bank accounts and domestic withdrawals to Japanese accounts. So thousands of users who have deposits in many other currencies have been largely unable to get their money out except by buying bitcoins since June. The rumor is that they're working on a multi year plan to open their own bank in Europe which might solve some of this. In the mean time their prices run a bit higher since if you sell for dollars you don't get to withdraw them.

There's a huge thread here. https://bitcointalk.org/index.php?topic=179586.0

Could be that bitstamp will be experiencing the same hate.

Of course with my luck I deposited last thursday to now be screwed as my deposit never credited. Now their site is practically unavailable and no reaction from the site admins or company owners.
I researched 3 weeks for a serious exchanger and now I run into bulls***. give me a break.

sorry for the rant... I'm new here, read about bitcoin for many many hours and wanted to join the game. Now I'm just sitting here being angry and sad.

Bitstamp is even more horrible today than yesterday. Useless.

Their bank accounts were frozen in US, meaning they losed some liquidity. It means it is hard to withdraw money from MtGox, and I woldnt trust keeping money there

Brilliant!

This.


Would've made a great gif if he'd of slipped off that ball.

I use bitstamp but almost 2 days down

Coinbase - I got everything worked up but I saw that you can only buy coins for the amount they will be next week (??????). That makes no sense at all.

Bitstamp - I also see late hate for them for a long downtime just today.

What do you think?

If you want to withdraw your bitcoins from mtgox, it takes weeks.

mtgox is to me a time waster.
i have gone away from them since.

The coinbase limitations were lifted after a few hours and I have bought with them twice since and have received the current prices at the time of each buy.  I personally like them.