Bitcoin Forum

Gox stated they don't have money in their dwolla, and they are waiting for some to transfer in.
This sounds like a newly opened exchange, not one with the most experience by far.
Hopefully they-
1) Have the money still.
2) Trust Dwolla more than it looks like.
3) Hurry it up.

The only way to avoid Dwolla reversing an ACH is to pull the money out of Dwolla right away.  Dwolla can't deduct from a 0 balance.  TradeHill learned that the hard way.  And unfortunately if Dwolla continues the policy of subtracting money from your account in event of a dispute, then I wouldn't leave any balance there either.

I transferred money out of Gox to Dwolla on Wednesday night (5th) and its still not in my account.   Anyone know wtf is going on?

They don't have the money in the account.

So how do I get paid?  Or is mtgox playing games?

We have to wait until they transfer funds in.
Also, there is no reason the dwolla account cant go negative right?

Now Bitcoins are at 4$...

edit 4.16

But I watched Immanuel Goob's youtube vid last night and he said BTC would never go down.  How can this be???

I made a transfer from gox to dwolla 24 hours ago and it was processed in under 15 minutes, again today...so they have money in there? Maybe?

I'd be immediately suspicious that the new guy is trying to start a panic about Mt Gox.

I wish him luck because one of my strategies (for world domination or whatever) is build loosely around this happening. But I've pretty much given up on that.  At this point, Mt Gox is so big that even if they were crooks they would likely be terrified of executing a B7 end-game or even worse, that they get legitimately robbed because nobody is going to believe them.

I'm not trying to start panic, the total of my transactions was ~$300 USD, so maybe they're giving smaller withdrawals out first? I don't know, but we should get someone from Gox in here to explain why this might be.

You know this is how bank runs are started... a post like this leads to a massive sell and withdraw attempts from said organization.    Even if it's not the case,  it will become the case if enough people believe that Mt. Gox has no money.

I'm not trying to tell you what to say,  but honestly a single post like this could spread to a disaster,  when there was no disaster in the first place.



    

This has happened many times.  Each time Mt Gox has jumped on the forum and provided a plausible explaination to the puzzle, or at least that has been my general perception.

It is of course not their duty to use any forum as a technical support channel and, arguably, not good business practice.  But it does seem to be somewhat effective.  And they own this forum as I understand it.

An obvious and probably legitimate response would be to move this thread out of the limelight if nothing else.

Was it an immediate transfer for you?   Do you know why I'd be waiting a few days for a $147 transfer?

Ya, less than 15 minutes to dwolla receipt, so idk why transfers still haven't cleared. Maybe after the payments were started again the pending payments got passed over. I'd submit another support ticket.

On Friday morning (Oct. 7th) I did a $250 withdrawal to Dwolla. 30 minutes later I did a $230 withdrawal to Paxum. The Dwolla showed up in a few hours. The Paxum has yet to arrive, and it is now 48 hours later. Support ticket submitted yesterday got the canned reply of 'higher than normal support volumes, 48-72 hours for a response, etc...'

Still no transfer...
Waiting still....

They have too many payment options and cant keep the money spread out fast enough.

I think you're being overly generous in your assumption, Mr. Owl. It's growing more clear by the day that MtGox is insolvent.

my 0.002 bitcoins.

-Jonathan

Hello,

We apologize for the delay with Dwolla withdrawals. We have already transferred funds into our account last week, and all Dwolla transfers will be processed shortly.

1) In another thread, MtGox Support stated that their Dwolla account was depleted in the past 24-48 hours from all the unlocked accounts withdrawing funds.
2) In this and other threads, MtGox support claims that they sent money to their Dwolla account last week to make withdrawals available. How was it empty 5 days ago, then suddenly flush enough to allow large withdrawals from apparently unlocked accounts in the past 24 hours, and now the same deposits from ~5 days ago from MtGox to Dwolla are still not in their Dwolla account?

How does this make sense? If you had a funded Dwolla account, then why was WiseOldOwl not cashed out while the newly unlocked accounts were apparently allowed / able to make withdrawals in the past 24 hours?

can anyone here verify they've withdrawn USD from MtGox in the past 24-48 hours?

MtGox Support - You need to do a better job of keeping your story straight.

-Jonathan

Hello Jonathan,

We had to transfer funds to our Dwolla account several times since last week due to the unexpected large volume of withdrawals made from all of the unlocked accounts. We thank you for your patience with this issue. If you have further inquiries, please contact the Mt.Gox Support at Zendesk.

I said 'depleted', not 'deleted'.

I'm only pointing out that WiseOldOwl made a withdrawal request 5 days ago, and according to you, MtGox has processed NEWLY unlocked account withdrawal requests while seemingly ignoring withdrawal requests by the likes of WiseOldOwl, who has already established himself and met your AML guidelines. I see this as problematic, and I was asking anyone who's actually been able to withdraw through Dwolla or any other method for that matter to make themselves known.

Don't get me wrong, MtGox Support, I REALLY HOPE THAT YOU'RE SOLVENT. I'm sorry that I'm being so hard on you, but it really is starting to seem that your cookie cutter responses and lack of true momentum in dealing with customer requests is a signal that there are financial problems at MtGox. When you apparently honor the requests of accounts that you just unlocked in the past 24 hours while not honoring the withdrawal requests of WiseOldOwl and others for ~1000, it raises some flags such as: Are you telling the truth?

If anyone reading this can please reply and state that they've successfully withdrawn their money in from MtGox as a result of their verification and subsequent account unlock, that would go a long way in verifying what MtGox Support is saying. Unfortunately, it also points to strange business practices where MtGox is apparently honoring newly unlocked accounts while ignoring the withdrawal requests of accounts that weren't locked in the first place. Do you care to explain that?

-Jonathan

Hello Jonathan,

Please tell WiseOldOwl to submit his request to https://www.mtgox.com/forms/verification.
If all documents submitted are valid, his account will be verified within 24 hours.

I have been able to withdraw BTC from mtgox after my account unlocking today

Can we all say ridiculous?
I am already verified!!!
Have been for over a couple months,
My withdraw limit is $7500 a day!!
I designed my business to only withdraw BTC 80% of the time so not to run into these problems. I try to pull a measly $1000 one time and bam, have to wait.
How many AML verified customers do you guys have??
I wouldn't expect more than a 1000 regular customers that are using the system everyday, Ho0w the hell do you not remember me? I have 4500 customers at my work and can almost remember all of them by name and I know Where they work, where their kids go to school etc. Seriously, Gox you own this board and the #1 exchange I move like 3-5k BTC through every few weeks....
Really?

Oh my. MtGox Support, your job must be getting more stressful by the minute. How unfortunate that you not only have to fend off the increasingly restless masses asking the hard questions, but you must also be having a rough time balancing your sandbagging replies with your craigslist job search.

You must be getting very stressed out, MtGox Support staff, and if you have a conscience, you are also likely starting to feel terrible about all the people who you are continually repeating the same cookie cutter responses to. Unfortunately, today may go down as the day that the MtGox story starts to fall apart. You've been caught in a lie, or in the very best case, incredibly unethical business practices. MtGox days are obviously numbered.

As of yet there is not a single person who has entered the discussion to claim that they've successfully withdrawn Dwolla, or anything other than Bitcoin from MtGox. You have made statements claiming that large Dwolla withdrawals occurred in the past 48 hours. This is very probably untrue. Not a single defender has come forward to your defense to claim any withdrawals. I'd imagine that at least 1 or 2 people would readily come to MtGox defense in this regard, but since that has yet to happen, it's seeming more clear by the moment that MtGox is wearing no clothes, and by virtue of it's incestual entanglement with our favorite cryptocurrency, bitcoin, that this whole experiment is about to come to a very sad end.

Enjoy your job hunt, MtGox Support staff, and perhaps you should leave your current employer off of your CV, eh?

So sad. :/

-J

Well its 5:33 in Iowa and no money yet transferred to Dwolla...
Officially, it might be time to worry.

Since reading these threads and noticing the bland 'Soon' replies from MtgoxSupport, I've begun moving my funds off of MtGox.

The kicker has been the evasiveness of MtGoxSupport - it reeks of (poorly) hiding something.

Fortunately there *should* be no such thing as a 'bank run' on Gox - even if 100% of the people withdraw their funds Gox -should- be 100% solvent, unless they've been participating in shady practices, and the low volume/prices recently have begun to take their toll.

Infact, one could argue that MtGox has a great opportunity to impress the increasing number of people beginning to feel uneasy about MtGox activities.

Haven't MtGox been hit by a lot of chargebacks due to fraudulent activity, and didn't they have to cover the losses from the Polish exchange and their own hack? If so, it would imply that they don't have anywhere near the 100% funds that they should have.

This might explain why so many accounts are being blocked: Robbing Pete to pay Paul.

This is a logical reason that goes in the maybe's.
They would "block" accounts to slow everything (small meltdown) down much like banks did in the USA on the week of Oct 3rd...
Still no word from them (gox) either.

ACtually one time my dwolla account did go negative is was wierd. There was a glitch in there system took'em a day to get it fixed tho.