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Title: MtGox wires ARE delayed Post by: Bugpowder on June 11, 2013, 04:26:13 PM Combating some FUD here... One or two people have recently reported delays with international wires from Mt.Gox to various places (Thailand, for example).
Just wanted to report that I initiated a $9,000 wire from Gox to my US based bank account yesterday, it was immediately processed by Gox, and funds are in my US account today (<24 hours.) I am a verified, but not trusted user, so I haven't tried going over $10k in one transaction. I have been sending wires from Gox to US bank account regularly for 4 months now and have never, ever had a delay of more than 36 hours to wire clearing. I suspect that the reported Gox delays are due to the user wiring to a non-US country, using SEPA instead of international wires, or having a Gox account with suspicious activity. EDIT : Goxxed! Title: Re: MtGox wires NOT delayed Post by: ineededausername on June 11, 2013, 10:50:19 PM I just got my wire today too, I requested it over the weekend.
Title: Re: MtGox wires NOT delayed Post by: lewisg on June 12, 2013, 06:33:43 AM I received mine today.
Title: Re: MtGox wires NOT delayed Post by: ineededausername on June 12, 2013, 02:45:28 PM Hmm maybe they got their wire limit raised or something.
Title: Re: MtGox wires NOT delayed Post by: szita2000 on June 18, 2013, 06:34:34 AM That is crazy I initiated a bank transfer on the 23rd of May !!!! and I still not have my money, is not even processed...
Title: Re: MtGox wires NOT delayed Post by: samson on June 18, 2013, 09:15:51 AM Combating some FUD here... One or two people have recently reported delays with international wires from Mt.Gox to various places (Thailand, for example). Just wanted to report that I initiated a $9,000 wire from Gox to my US based bank account yesterday, it was immediately processed by Gox, and funds are in my US account today (<24 hours.) I am a verified, but not trusted user, so I haven't tried going over $10k in one transaction. I have been sending wires from Gox to US bank account regularly for 4 months now and have never, ever had a delay of more than 36 hours to wire clearing. I suspect that the reported Gox delays are due to the user wiring to a non-US country, using SEPA instead of international wires, or having a Gox account with suspicious activity. Wires are delayed right now. I'm waiting on one since last week. Support have confirmed the delay and it's still ongoing. I can cancel my wire if I want to - my options are to wait for an unspecified amount of time or cancel it. Right now I'm waiting. Lets see how quickly your next one goes through. Title: Re: MtGox wires NOT delayed Post by: MPOE-PR on June 18, 2013, 11:57:37 AM Wires are delayed right now. I'm waiting on one since last week. Support have confirmed the delay and it's still ongoing. I can cancel my wire if I want to - my options are to wait for an unspecified amount of time or cancel it. Right now I'm waiting. Lets see how quickly your next one goes through. So if you are waiting on one since last week while Bugpowder reported no delay ALSO last week it'd seem the FUD isn't really FUD after all. Title: Re: MtGox wires NOT delayed Post by: joesmoe2012 on June 18, 2013, 12:09:17 PM I've been waiting on multiple wires for about a week now.
Starting to get pretty frustrated. Title: Re: MtGox wires NOT delayed Post by: howdoin on June 18, 2013, 04:19:06 PM I have made 5 wires request since June 3rd and nothing has showed on my account - contact MtGox who claim they were processed 10 days ago....
Title: Re: MtGox wires NOT delayed Post by: PrintMule on June 18, 2013, 04:20:48 PM If you have a large business, would anyone notice if you fuck up 1-5% of your clients?
Title: Re: MtGox wires NOT delayed Post by: ineededausername on June 18, 2013, 09:53:19 PM I think gox might have a weekly limit on the number of outgoing wires.
Title: Re: MtGox wires NOT delayed Post by: bystander on June 19, 2013, 04:43:26 AM I've been waiting on multiple wires for about a week now. Starting to get pretty frustrated. Same here. Prior to June 5, they were processing my wires within 1 or 2 business days. Now it's been a week on the last one to US bank account. Not sure what is going on there. They replied to my email with a standard form letter that "according to the FAQ's" wires are currently taking a week. But that phrase was in there a while ago, not just recently. Title: Re: MtGox wires NOT delayed Post by: dave111223 on June 19, 2013, 06:57:12 AM Combating some FUD here... One or two people have recently reported delays with international wires from Mt.Gox to various places (Thailand, for example). Certainty not "FUD" , at least 10+ different people reporting delays....in fact looks like you are only person I've seen reporting a quick processing time. I had one transfer that took 6 days to initiate, and the next took about 3 days. I don't see why you feel the need to "combat" people coming to the "Service Discussion" board to discuss delays in services... If i'd posted it in the speculation forum with a title of "Mt. Gox has run out of money" that would be FUD, "Mt Gox now adding 1 week processing time to Wire Transfer withdrawals" in the services discussion forum != FUD Title: Re: MtGox wires NOT delayed Post by: naphto on June 19, 2013, 09:05:10 AM Certainty not "FUD" , at least 10+ different people reporting delays....in fact looks like you are only person I've seen reporting a quick processing time. 10+ different people? Like 0.001 % of the overall? Title: Re: MtGox wires NOT delayed Post by: szita2000 on June 19, 2013, 10:32:11 AM 27 days after initiating the withdrawal for international wire transfer the status is still confirmed...
Title: Re: MtGox wires NOT delayed Post by: howdoin on June 19, 2013, 03:24:15 PM Spoke (via email) to MtGox regarding my wire transfers since June 1 - they claim they are having problem with wire to USA (Citi) and cancelled the ones that were not processed... now I cannot use Dwolla nor Wire and am basically stuck with money in MtGox with no way of withdrawing it.
4 of my wire since June 3 are still processed on their side and they "cannot do anything" but wait, it has been 16 days since the first wire. Wires done earlier this year usually completed in less than 5 business days. There is definitely a problem there, I asked MtGox to send me copy of the wire confirmation from their bank, they answered all other questions but keep eluding this one. Looks to me like they are stalling on my withdrawals, this is not very encouraging nor reassuring that I have a large sum with them and no wayof getting it back. Their support does "answer" email but does not seem to be doing much about it expect to ask me to be patient. Title: Re: MtGox wires NOT delayed Post by: Nightowlace on June 20, 2013, 12:39:55 AM Spoke (via email) to MtGox regarding my wire transfers since June 1 - they claim they are having problem with wire to USA (Citi) and cancelled the ones that were not processed... now I cannot use Dwolla nor Wire and am basically stuck with money in MtGox with no way of withdrawing it. 4 of my wire since June 3 are still processed on their side and they "cannot do anything" but wait, it has been 16 days since the first wire. Wires done earlier this year usually completed in less than 5 business days. There is definitely a problem there, I asked MtGox to send me copy of the wire confirmation from their bank, they answered all other questions but keep eluding this one. Looks to me like they are stalling on my withdrawals, this is not very encouraging nor reassuring that I have a large sum with them and no wayof getting it back. Their support does "answer" email but does not seem to be doing much about it expect to ask me to be patient. So do not request wires. Buy BTC on Gox, transfer to CampBX, withdrawl to Dwolla. Probelm solved. Title: Re: MtGox wires NOT delayed Post by: dave111223 on June 20, 2013, 01:11:59 AM Certainty not "FUD" , at least 10+ different people reporting delays....in fact looks like you are only person I've seen reporting a quick processing time. 10+ different people? Like 0.001 % of the overall? So there are actually 10,000 people on the forum currently reporting on-time wire processing? I must have missed those 10,000 posts somewhere. Title: Re: MtGox wires NOT delayed Post by: bystander on June 20, 2013, 01:45:29 AM Just got an email from Mt. Gox support, they said it will take another week.
Early last week, I had requested a withdrawal of $10,000 on the dot, now bear in mind this is what their faq states: "If your withdrawal is larger than 10,000 USD (equivalent), it will take at least 2 weeks to process." Operative word is "larger than" -- so now they are trying to say it will take 2 weeks even though $10,000.00 is not larger than 10,000 USD. Had they written "larger than or equal to 10,000 USD," then obviously a different amount would've been entered at the time. Hope some of you out there are having better luck. I've had it up to here with Mt. Gox. Title: Re: MtGox wires NOT delayed Post by: ineededausername on June 20, 2013, 02:09:03 AM MtGox support is giving out several different stories that don't match up. I think the issue should be escalated to Mark, if there's a way to do it.
Title: Re: MtGox wires NOT delayed Post by: ineededausername on June 20, 2013, 02:38:11 AM I am talking to mtux on irc right now, and trying to get everyone an answer on how long the queue is. Hopefully we have some numbers soon :)
Title: Re: MtGox wires NOT delayed Post by: MPOE-PR on June 20, 2013, 02:49:41 AM Certainty not "FUD" , at least 10+ different people reporting delays....in fact looks like you are only person I've seen reporting a quick processing time. 10+ different people? Like 0.001 % of the overall? If fifty actual people still use MtGox at this point it'd be a miracle. (BTC dust "trades" don't count as people.) Title: Re: MtGox wires NOT delayed Post by: Bugpowder on June 20, 2013, 03:41:04 AM Certainty not "FUD" , at least 10+ different people reporting delays....in fact looks like you are only person I've seen reporting a quick processing time. 10+ different people? Like 0.001 % of the overall? If fifty actual people still use MtGox at this point it'd be a miracle. (BTC dust "trades" don't count as people.) If nobody is using Mt. Gox, nobody is using any exchange. Actually, volumes are low in everything but ASICMINER these days. Champagne bubbles give a bad hangover. Code: Time span: 24h 3d 7d 30d 6m Title: Re: MtGox wires NOT delayed Post by: Bugpowder on June 20, 2013, 03:42:29 AM Certainty not "FUD" , at least 10+ different people reporting delays....in fact looks like you are only person I've seen reporting a quick processing time. 10+ different people? Like 0.001 % of the overall? So there are actually 10,000 people on the forum currently reporting on-time wire processing? I must have missed those 10,000 posts somewhere. Nobody bothers to complain that things are working smoothly. Title: Re: MtGox wires NOT delayed Post by: Bugpowder on June 20, 2013, 09:54:02 AM Well then...
Commence screaming! I hope my last wire got thru... TOKYO - JAPAN - June 20th, 2013 Over the past weeks Mt. Gox has experienced rising volumes of deposits and withdrawals from established and upcoming markets interested in Bitcoin. This increased volume has made it difficult for our bank to process the transactions smoothly and within a timely manner, which has created unnecessary delays for our global customers. This is especially so for those in the United States who are requesting wire transfer withdrawals from their accounts. We are currently making improvements to process withdrawals of United States Dollar (USD) denominations, and as a result are temporarily suspending cash withdrawals of USD for the next two weeks. Please be reassured that USD deposits and transfers to Mt. Gox will remain unaffected, as will deposits and withdrawals in other currencies, and we will be resuming USD withdrawals once the process is completed. We apologize for any inconvenience this causes our U.S. customers in the meantime, and look forward to resuming withdrawal service as well as debuting a dramatically improved trading engine which will be launching very soon. Regards Mt.Gox Co. Ltd Team. Title: Re: MtGox wires ARE delayed Post by: ineededausername on June 20, 2013, 02:59:08 PM Mtux says Mizuho Bank's automated wire transfer API is broken right now. Wires can only be sent out manually by Mizuho. Gox is opening accounts at other banks, which should drastically improve USD withdrawal times and bypass the technical problems at Mizuho. This process should take around 2 weeks.
Title: Re: MtGox wires ARE delayed Post by: thezerg on June 20, 2013, 03:06:34 PM Mtux says Mizuho Bank's automated wire transfer API is broken right now. Wires can only be sent out manually by Mizuho. Gox is opening accounts at other banks, which should drastically improve USD withdrawal times and bypass the technical problems at Mizuho. This process should take around 2 weeks. LOL W(hy)TF didn't Mt. Gox just put THAT info in the press release? They seem to love crafting press releases designed to maximize panic. Title: Re: MtGox wires ARE delayed Post by: MPOE-PR on June 20, 2013, 03:08:01 PM By now I kinda wonder if the dramatically improved MtGox engine which will be released very soon since Spring will beat to the punch the dramatically improved S.DICE website which will be released very soon since about the same time.
Title: Re: MtGox wires ARE delayed Post by: samson on June 20, 2013, 03:08:56 PM Mtux says Mizuho Bank's automated wire transfer API is broken right now. Wires can only be sent out manually by Mizuho. Gox is opening accounts at other banks, which should drastically improve USD withdrawal times and bypass the technical problems at Mizuho. This process should take around 2 weeks. Lets examine this a little. An API which has been working perfectly for a bank suddenly stops working and there is no solution to the problem apart from opening new bank accounts ? Banks don't just go in and break their systems, if there was a software issue with their API they would roll back any recent changes and make it work again. This is an excuse. Knowing how Asian businesses operate I would say it's a 'face saving' excuse. I think I can say that this is also a lie - someone at the bank is lying to mtux if this is what was said. Title: Re: MtGox wires ARE delayed Post by: samson on June 20, 2013, 03:09:33 PM LOL W(hy)TF didn't Mt. Gox just put THAT info in the press release? They seem to love crafting press releases designed to maximize panic. Because it's bullshit. Title: Re: MtGox wires ARE delayed Post by: ineededausername on June 20, 2013, 03:10:14 PM Mtux says Mizuho Bank's automated wire transfer API is broken right now. Wires can only be sent out manually by Mizuho. Gox is opening accounts at other banks, which should drastically improve USD withdrawal times and bypass the technical problems at Mizuho. This process should take around 2 weeks. Lets examine this a little. An API which has been working perfectly for a bank suddenly stops working and there is no solution to the problem apart from opening new bank accounts ? Banks don't just go in and break their systems, if there was a software issue with their API they would roll back any recent changes and make it work again. This is an excuse. Knowing how Asian businesses operate I would say it's a 'face saving' excuse. I think I can say that this is also a lie - someone at the bank is lying to mtux if this is what was said. Code: [23:08] <MagicalTux> we broke their system due to the volume if anyone wants to interpret it any differently. Title: Re: MtGox wires ARE delayed Post by: greyhawk on June 20, 2013, 03:11:31 PM Mtux says Mizuho Bank's automated wire transfer API is broken right now. Wires can only be sent out manually by Mizuho. Gox is opening accounts at other banks, which should drastically improve USD withdrawal times and bypass the technical problems at Mizuho. This process should take around 2 weeks. Lets examine this a little. An API which has been working perfectly for a bank suddenly stops working and there is no solution to the problem apart from opening new bank accounts ? Banks don't just go in and break their systems, if there was a software issue with their API they would roll back any recent changes and make it work again. This is an excuse. Knowing how Asian businesses operate I would say it's a 'face saving' excuse. I think I can say that this is also a lie - someone at the bank is lying to mtux if this is what was said. Well that's a strange thing I learned. When you get IP banned from a site, suddenly your API requests to the site fail. Why does this happen? Nobody knows. It is a complete mystery. Someone should make a game about that. A mystery game. Title: Re: MtGox wires ARE delayed Post by: smoothie on June 20, 2013, 03:16:38 PM Mtux says Mizuho Bank's automated wire transfer API is broken right now. Wires can only be sent out manually by Mizuho. Gox is opening accounts at other banks, which should drastically improve USD withdrawal times and bypass the technical problems at Mizuho. This process should take around 2 weeks. Lets examine this a little. An API which has been working perfectly for a bank suddenly stops working and there is no solution to the problem apart from opening new bank accounts ? Banks don't just go in and break their systems, if there was a software issue with their API they would roll back any recent changes and make it work again. This is an excuse. Knowing how Asian businesses operate I would say it's a 'face saving' excuse. I think I can say that this is also a lie - someone at the bank is lying to mtux if this is what was said. Code: [23:08] <MagicalTux> we broke their system due to the volume if anyone wants to interpret it any differently. lol how the fuck does transferring tons of cash break a system technically? Even if that was true...just upload a good copy of the system and VOILA back to normal. Fucking horse shit lies lol... Title: Re: MtGox wires ARE delayed Post by: Richy_T on June 20, 2013, 03:17:26 PM Banks don't just go in and break their systems, if there was a software issue with their API they would roll back any recent changes and make it work again. Haha. You don't work in IT, right? Title: Re: MtGox wires ARE delayed Post by: samson on June 20, 2013, 03:21:02 PM Banks don't just go in and break their systems, if there was a software issue with their API they would roll back any recent changes and make it work again. Haha. You don't work in IT, right? I do but not in banking and when we get something wrong we fix it - and we fix it quickly. There have been some high profile issues with software upgrades at banks in the UK over the last year or so - big banks. When they happen they are fixed very quickly. Title: Re: MtGox wires ARE delayed Post by: KeyserSoze on June 20, 2013, 03:44:10 PM I wonder if the looming possibility of a Japanese bank bail-in is causing this.
http://finance.yahoo.com/news/japan-adopt-bail-ins-force-181947896.html Maybe Gox is working to secure other bank accounts, though one would have hoped Gox would already have had backup accounts in place. Or maybe the bank turned its API off to keep USD from fleeing on news of the bail-in. They simply told Gox it was "broken." Title: Re: MtGox wires ARE delayed Post by: Bugpowder on June 20, 2013, 03:46:33 PM By now I kinda wonder if the dramatically improved MtGox engine which will be released very soon since Spring will beat to the punch the dramatically improved S.DICE website which will be released very soon since about the same time. I think that dramatically improved S.DICE site was released last night. They changed the name to Just-Dice.com too... Title: Re: MtGox wires ARE delayed Post by: samson on June 20, 2013, 03:50:20 PM I wonder if the looming possibility of a Japanese bank bail-in is causing this. http://finance.yahoo.com/news/japan-adopt-bail-ins-force-181947896.html Maybe Gox is working to secure other bank accounts, though one would have hoped Gox would already have had backup accounts in place. Or maybe the bank turned its API off to keep USD from fleeing on news of the bail-in. They simply told Gox it was "broken." I don't know how large this bank that MtGox uses is but is it possible that mass withdrawals from MtGox have in fact created a run on their bank ? Title: Re: MtGox wires ARE delayed Post by: ineededausername on June 20, 2013, 04:15:21 PM Does anyone know where we can contact Mizuho Bank support to confirm this? It's worth a shot. Their website, however, is so unhelpful that I can't find a single email or even a phone number... maybe I'm just bad at Googling.
Title: Re: MtGox wires ARE delayed Post by: ElectricMucus on June 20, 2013, 04:29:25 PM Title: Re: MtGox wires ARE delayed Post by: MPOE-PR on June 20, 2013, 04:32:18 PM Well that's a strange thing I learned. When you get IP banned from a site, suddenly your API requests to the site fail. Why does this happen? Nobody knows. It is a complete mystery. Someone should make a game about that. A mystery game. And technically speaking the site's continued efforts to prevent you from bypassing that ban could be construed to count as "them working on it". I don't know how large this bank that MtGox uses Quote One of the three so-called Japanese "megabanks" (along with Mitsubishi UFJ Financial Group and Sumitomo Mitsui Financial Group) To put it into perspective: the Mizuho bank that provides banking services for this unheard of nonentity you call MtGox among many (MANY) others is just about large enough that MtGox accounts for about five minutes of their volume. Every 25 to 128 years. Title: Re: MtGox wires ARE delayed Post by: Rampion on June 20, 2013, 04:34:38 PM I have to support what the OP is saying.
I've very recently initiated 3 withdrawals, 5 figures each, SEPA transfers, and I received all of them in 2/3 days. The withdrawals went from "confirmed" to "processed" in minutes, and the money took 2 days in 2 occasions, and 3 days in 1 occasion. I really don't get all these reports about delayed SEPAs and International wires, at least for me they work like a charm. Title: Re: MtGox wires ARE delayed Post by: samson on June 20, 2013, 04:39:47 PM Quote One of the three so-called Japanese "megabanks" (along with Mitsubishi UFJ Financial Group and Sumitomo Mitsui Financial Group) To put it into perspective: the Mizuho bank that provides banking services for this unheard of nonentity you call MtGox among many (MANY) others is just about large enough that MtGox accounts for about five minutes of their volume. Every 25 to 128 years. It is interesting that a comparatively small amount of wire transfers which came from MtGox customers have caused their entire wire systems API to fail. Like I said earlier I don't believe it for one minute. The bank have given out a bullshit excuse. I'd really like to know the real reason behind this. It's possible (or even probable) that the MtGox contact at the bank also knows nothing about the real reason behind this. Title: Re: MtGox wires ARE delayed Post by: greyhawk on June 20, 2013, 04:41:35 PM Quote One of the three so-called Japanese "megabanks" (along with Mitsubishi UFJ Financial Group and Sumitomo Mitsui Financial Group) To put it into perspective: the Mizuho bank that provides banking services for this unheard of nonentity you call MtGox among many (MANY) others is just about large enough that MtGox accounts for about five minutes of their volume. Every 25 to 128 years. It is interesting that a comparatively small amount of wire transfers which came from MtGox customers have caused their entire wire systems API to fail. Like I said earlier I don't believe it for one minute. The bank have given out a bullshit excuse. I'd really like to know the real reason behind this. It's possible (or even probable) that the MtGox contact at the bank also knows nothing about the real reason behind this. It's also possible Karpelen is talking out of his ass. On the other hand it's also totally possible that MtGox grew so big they completely overwhelmed the ninth largest financial group in the world. Absolutely possible..... .... in Bizarroland. Title: Re: MtGox wires ARE delayed Post by: Rampion on June 20, 2013, 04:43:40 PM Title: Re: MtGox wires ARE delayed Post by: EuroTrash on June 20, 2013, 06:21:26 PM ;D Title: Re: MtGox wires ARE delayed Post by: Bugpowder on June 20, 2013, 06:49:19 PM Quote One of the three so-called Japanese "megabanks" (along with Mitsubishi UFJ Financial Group and Sumitomo Mitsui Financial Group) To put it into perspective: the Mizuho bank that provides banking services for this unheard of nonentity you call MtGox among many (MANY) others is just about large enough that MtGox accounts for about five minutes of their volume. Every 25 to 128 years. It is interesting that a comparatively small amount of wire transfers which came from MtGox customers have caused their entire wire systems API to fail. Like I said earlier I don't believe it for one minute. The bank have given out a bullshit excuse. I'd really like to know the real reason behind this. It's possible (or even probable) that the MtGox contact at the bank also knows nothing about the real reason behind this. It's also possible Karpelen is talking out of his ass. On the other hand it's also totally possible that MtGox grew so big they completely overwhelmed the ninth largest financial group in the world. Absolutely possible..... It's also possible that when the price isn't going up parabolically, they stop getting "1-20 Million $ of deposits a day" I bet wires go out the minute a new 10,000 BTC bidwall appears... Title: Re: MtGox wires ARE delayed Post by: lukasbradley on June 20, 2013, 06:51:22 PM Mtux says Mizuho Bank's automated wire transfer API is broken right now. Wires can only be sent out manually by Mizuho. Gox is opening accounts at other banks, which should drastically improve USD withdrawal times and bypass the technical problems at Mizuho. This process should take around 2 weeks. LOL W(hy)TF didn't Mt. Gox just put THAT info in the press release? They seem to love crafting press releases designed to maximize panic. And why did I learn about all of this here, instead of receiving an email to my account? Who handles customer service at Gox? I would love to ask them directly, but their chat service on the site is also not working. Title: Re: MtGox wires ARE delayed Post by: MPOE-PR on June 20, 2013, 07:53:03 PM It's also possible Karpelen is talking out of his ass. On the other hand it's also totally possible that MtGox grew so big they completely overwhelmed the ninth largest financial group in the world. Absolutely possible..... .... in Bizarroland. Apparently, Japan's second largest bank was a victim of MtGox's own success. https://i.imgur.com/Qo68s1C.jpg Loading Godzilla. Title: Re: MtGox wires ARE delayed Post by: xavier on June 21, 2013, 12:12:47 AM The fact they resort to lying about why USD withdrawals are disabled is troubling.
I suspect something serious is afoot at MtGox right now. Most likely, they are in talks with US or Japanese regulators. Don't expect USD wires to be re-enabled anytime soon. Title: Re: MtGox wires ARE delayed Post by: joesmoe2012 on June 21, 2013, 12:31:06 AM Well yesterday on their site it said that the worst case scenario would be end of next week. Today it says 2 weeks as they are "upgrading."
Now aurum's gone too... Getting nervous. Title: Re: MtGox wires ARE delayed Post by: ineededausername on June 21, 2013, 12:40:51 AM I have asked MTux some of your questions.
Code: [20:32] <MagicalTux> [09:32:02] <ineededausername> also, why does the technical problem take 2 weeks to resolve? <- banks He has confirmed my (our) interpretation of his earlier comments, and still says it's a technical issue. Title: Re: MtGox wires ARE delayed Post by: joesmoe2012 on June 21, 2013, 12:42:44 AM I have asked MTux some of your questions. Code: [20:32] <MagicalTux> [09:32:02] <ineededausername> also, why does the technical problem take 2 weeks to resolve? <- banks He has confirmed my (our) interpretation of his earlier comments, and still says it's a technical issue. Thanks for sharing this, that's good to know. Hopefully the bank is interested in working with them and that in reality the accounts haven't been closed. Title: Re: MtGox wires ARE delayed Post by: ineededausername on June 21, 2013, 01:05:10 AM Additional information, which makes the whole situation sound much better:
Code: [20:38] <ineededausername> is the 2 week estimate a soft or concrete estimate They are still manually sending out wires to high-priority partners, it's just the automated system that doesn't work. Title: Re: MtGox wires ARE delayed Post by: smoothie on June 21, 2013, 01:14:28 AM I have asked MTux some of your questions. Code: [20:32] <MagicalTux> [09:32:02] <ineededausername> also, why does the technical problem take 2 weeks to resolve? <- banks He has confirmed my (our) interpretation of his earlier comments, and still says it's a technical issue. Yet they can still obtain deposits from customers into their account? When will it ever happen that deposits are disabled and only withdrawals can happen? ANSWER: Never Title: Re: MtGox wires ARE delayed Post by: jubalix on June 21, 2013, 01:26:09 AM <MagicalTux> technical, according to the bank
ominous sounding Title: Re: MtGox wires ARE delayed Post by: smoothie on June 21, 2013, 01:29:15 AM <MagicalTux> technical, according to the bank ominous sounding Which we all know is bullshit. Why would the bank stop withdrawals via wire from MTGOX's accounts yet allow deposits from US customers? This all stinks ....not good at all. Title: Re: MtGox wires ARE delayed Post by: ineededausername on June 21, 2013, 01:40:05 AM <MagicalTux> technical, according to the bank ominous sounding Which we all know is bullshit. Why would the bank stop withdrawals via wire from MTGOX's accounts yet allow deposits from US customers? This all stinks ....not good at all. I'm not defending either side here, but according to Mark's story, the bank did NOT stop wire transfers, its automated wire transfer system simply broke. Manual wire transfers, including from MtGox's account, are still being processed by bank personnel. Title: Re: MtGox wires ARE delayed Post by: ElectricMucus on June 21, 2013, 01:42:45 AM I've read Euros can be withdrawn just fine and quickly? Is it is true how does that fit with the automated wire transfer system outage? Wouldn't they be processed by the same system?
Title: Re: MtGox wires ARE delayed Post by: TimJBenham on June 21, 2013, 02:17:09 AM Wire requested Thursday 13/06 hasn't arrived. Looks like it's not going to for a long while yet. :'(
Title: Re: MtGox wires ARE delayed Post by: joesmoe2012 on June 21, 2013, 02:21:06 AM Tuesday wire received wednesday.
Wed, Thurs, Fri, and monday wires not yet received. Title: Re: MtGox wires ARE delayed Post by: dave111223 on June 21, 2013, 03:09:28 AM So now the question remains do I:
1) Leave my fiat with Gox and hope they are telling the truth 2) Buy BTC and withdraw them to Bitstamp and eat a ~7% loss Hm... Title: Re: MtGox wires ARE delayed Post by: dave111223 on June 21, 2013, 03:15:48 AM Option C) Panic buy and hold my BTC in my own wallet....
DONE Title: Re: MtGox wires ARE delayed Post by: RoadTrain on June 21, 2013, 03:18:12 AM So now the question remains do I: There will be no loss until you sell it cheaper. I'd just leave at mtgox the amount I can risk. And would buy & withdraw the remaining.1) Leave my fiat with Gox and hope they are telling the truth 2) Buy BTC and withdraw them to Bitstamp and eat a ~7% loss Hm... Title: Re: MtGox wires ARE delayed Post by: jubalix on June 21, 2013, 06:33:04 AM I think I can say that this is also a lie - someone at the bank is lying to mtux if this is what was said. exactly my thoughts Title: Re: MtGox wires ARE delayed Post by: bigdude on June 21, 2013, 09:08:57 AM my theory:
Dwolla accounts seized -> MtGox loses access to most of their USD -> MtGox tries to cope but runs out of USD reserves -> people start complaining that their withdrawals are taking increasing amounts of time -> MtGox issues notice, USD withdrawals suspended (ie. we have no USD and are trying to organise more via investors or bank credit) Title: Re: MtGox wires ARE delayed Post by: bitdragon on June 21, 2013, 09:35:13 AM I've read Euros can be withdrawn just fine and quickly? Is it is true how does that fit with the automated wire transfer system outage? Wouldn't they be processed by the same system? Euros come from Poland and the delays are much worse than USD through Japanese bank.Apparently because the daily limits are reached very quickly. These claims of Euros coming fine are quickly are really to be taken with a grain of salt. There might be some exceptions and outliers but overall it is not an option if you value time and peace of mind. Title: Re: MtGox wires ARE delayed Post by: Rampion on June 21, 2013, 10:13:38 AM I've read Euros can be withdrawn just fine and quickly? Is it is true how does that fit with the automated wire transfer system outage? Wouldn't they be processed by the same system? Euros come from Poland and the delays are much worse than USD through Japanese bank.Apparently because the daily limits are reached very quickly. These claims of Euros coming fine are quickly are really to be taken with a grain of salt. There might be some exceptions and outliers but overall it is not an option if you value time and peace of mind. I really don't get why you are so sure that the withdrawals coming through super quickly are the exception, and not the other way around. People tends to complain when have a problem, while tend to stay quiet when they have not. What I know is that I've very recently requested three "big" (5 figures each) SEPA withdrawals and the money arrived to my account in max. 3 days. I don't know why I should be the exception and the 10-15 (ok, let's say 20) people complaining of delayed SEPA transfers are the norm. I'd say MtGox has many thousands of clients (+60,000? More?), and if the norm was extremely long delays for EVERYBODY requesting SEPA transfers we would be having a real shit storm of complaints. I may be mistaken, but that's how I see it. Title: Re: MtGox wires ARE delayed Post by: neuronics on June 21, 2013, 11:00:30 AM Some information to bring more light in the dark:
During the last month I made 4 withdrawals (wire) to my account (Switzerland). Also done before without issues. All 4 amounts went through and were credited on my account as usual, about two weeks ago. Therefore I was appreciating the service provided by Mt. Gox. Yesterday I got a phone call from my local bank, stating that they didn`t get the clearance from the correspondent banks reagarding the $$ transfer. The money went back to Mt. Gox. So these amounts could not be credited any longer and got cancelled. It seems to be an issue of the international banks involved, below the original text from my bank, saying that the 4 amounts are returned from Citibank to JP Morgan Chase (Mt. Gox) due to internal guidelines. They are waiting for my instructions in which way Mt. Gox will send the money again. Quote Das von der Mt Gox Co. Ltd. Überwiesene Geld (4 Beträge USD) wurde von der Depotbank Citibank auf Grund interner Richtlinien an die JP Morgan Chase und somit an Mt Gox Co. Ltd retourniert. Bitte kontaktieren Sie die Firma ob das Geld erneut überwiesen wird.... The infos I got from Gox support: Quote Hello, We apologize for the inconvenience caused. Our bank is facing few issues sending the transactions to the Citibank accounts. Our bank is trying to resolve this issue and we are also working on few alternatives. The funds once cancelled will be sent back to the MT Gox account and I will keep you updated on this. The same day, some hours later, Gox "Statement Regarding Temporary Hiatus on U.S. Dollar Withdrawals" followed. Consistent as far as only $$ transfers are affected. Looking like big US players are blocking $$ transfer. We are not really surprised, aren`t we ? Hope Mt. Gox will find solutions to circumvent the hiatus. It would be interesting what Citibanks "internal guidelines" are stating. Title: Re: MtGox wires ARE delayed Post by: EuroTrash on June 21, 2013, 11:54:53 AM Looking like big US players are blocking $$ transfer. We are not really surprised, aren`t we ? Hope Mt. Gox will find solutions to circumvent the hiatus. It would be interesting what Citibanks "internal guidelines" are stating. First of all this is very helpful. Thanks for the useful information. It clears out some BS from Gox and makes us understand that the banks are playing dirty. Second you are in Switzerland but still your transfers from Japan do not get through - which means that there are US banks involved in the Swift transfer (the ones you mentioned) and they are (likely illegally) performing a blockade. Go sue them. Good luck :( Title: Re: MtGox wires ARE delayed Post by: samson on June 21, 2013, 12:02:58 PM Looking like big US players are blocking $$ transfer. We are not really surprised, aren`t we ? Hope Mt. Gox will find solutions to circumvent the hiatus. It would be interesting what Citibanks "internal guidelines" are stating. First of all this is very helpful. Thanks for the useful information. It clears out some BS from Gox and makes us understand that the banks are playing dirty. Second you are in Switzerland but still your transfers from Japan do not get through - which means that there are US banks involved in the Swift transfer (the ones you mentioned) and they are (likely illegally) performing a blockade. Go sue them. Good luck :( I was just reading about the SWIFT (international wire) system and read something very alarming : http://en.wikipedia.org/wiki/SWIFT#US_Control_over_Transactions_within_the_European_Union Quote US Control over Transactions within the European Union On 26 February 2012 the Danish newspaper Berlingske reported that US authorities evidently have sufficient control over SWIFT to seize money being transferred between two EU countries (Denmark and Germany), since they have seized around U$26,000 which were being transferred from a Danish to a German bank. The money was a payment by a Danish businessman for a batch of Cuban cigars previously imported to Germany by a German supplier. As justification for the seizure, the U.S. Treasury has stated that the Danish businessman has violated the United States embargo against Cuba.[23] WTF ! If the US decides to go after Bitcoin in a big and more overt way then they could disrupt transactions which go nowhere near a US bank. Title: Re: MtGox wires ARE delayed Post by: EuroTrash on June 21, 2013, 12:23:57 PM I was just reading about the SWIFT (international wire) system and read something very alarming : http://en.wikipedia.org/wiki/SWIFT#US_Control_over_Transactions_within_the_European_Union Quote US Control over Transactions within the European Union On 26 February 2012 the Danish newspaper Berlingske reported that US authorities evidently have sufficient control over SWIFT to seize money being transferred between two EU countries (Denmark and Germany), since they have seized around U$26,000 which were being transferred from a Danish to a German bank. The money was a payment by a Danish businessman for a batch of Cuban cigars previously imported to Germany by a German supplier. As justification for the seizure, the U.S. Treasury has stated that the Danish businessman has violated the United States embargo against Cuba.[23] WTF ! I corrected your spelling ;) we know bitcoin was created to empower people to transfer money without governments and banks involved. They are not the kind of people who state their intentions in the open. I expect them to lose that war in the long run. But not without a massive dirty fight. As for Gox I think their days are counted. Gox and BTC, compare to Napster and MP3. Title: Re: MtGox wires ARE delayed Post by: Delerium on June 21, 2013, 02:55:01 PM Please see latest MtGox announcement about this:
https://www.facebook.com/MtGox/posts/484532824964463?_fb_noscript=1 Delerium Title: Re: MtGox wires ARE delayed Post by: szita2000 on June 21, 2013, 04:19:16 PM I've read Euros can be withdrawn just fine and quickly? Is it is true how does that fit with the automated wire transfer system outage? Wouldn't they be processed by the same system? Let me correct you. I have a request in EUR from 23rd of May... Still no money. you can read Mt.Gox support's bullshit over here: https://bitcointalk.org/index.php?topic=238036.msg2542142#msg2542142 Title: Re: MtGox wires ARE delayed Post by: ElectricMucus on June 21, 2013, 04:33:47 PM I've read Euros can be withdrawn just fine and quickly? Is it is true how does that fit with the automated wire transfer system outage? Wouldn't they be processed by the same system? Let me correct you. I have a request in EUR from 23rd of May... Still no money. you can read Mt.Gox support's bullshit over here: https://bitcointalk.org/index.php?topic=238036.msg2542142#msg2542142 sorry to see that. But thanks for the info. Title: Re: MtGox wires ARE delayed Post by: xavier on June 21, 2013, 05:52:38 PM Come on guys!!
It's obvious there is no technical problem here. The bank is under pressure from USA regulators to stop doing business in US dollars with MtGox Isn't it a coincidence that only USD transactions are affected? Seriously.... where is the common sense here Title: Re: MtGox wires ARE delayed Post by: gizmoh on June 21, 2013, 06:49:22 PM Frankly we need to sort this out and we need a JAPANESE guy ??? to call/go to Mizuho and confirm the issue with Mt Gox!
Title: Re: MtGox wires ARE delayed Post by: ineededausername on June 22, 2013, 01:33:42 AM Minor update.
Code: [21:26] <ineededausername> hi mark! got just one question today: are you only sending wires to the partners who need them, or are you slowly processing normal users' wires too? Title: Re: MtGox wires ARE delayed Post by: joesmoe2012 on June 22, 2013, 02:46:08 PM Frankly we need to sort this out and we need a JAPANESE guy ??? to call/go to Mizuho and confirm the issue with Mt Gox! On it. Title: Re: MtGox wires ARE delayed Post by: joesmoe2012 on June 22, 2013, 02:55:24 PM Frankly we need to sort this out and we need a JAPANESE guy ??? to call/go to Mizuho and confirm the issue with Mt Gox! On it. They would not divulge any information. I lived in japan for a bit and have some friends there, had one of them call 2 different times. Both times some privacy bs about not being able to give out information on customers. So i'm not sure how the previous poster was able to get any information from them. Title: Re: MtGox wires ARE delayed Post by: Roy Badami on June 22, 2013, 03:39:27 PM WTF ! If the US decides to go after Bitcoin in a big and more overt way then they could disrupt transactions which go nowhere near a US bank. Whatever makes you think that a US Dollar transfer would go nowhere near a US bank? For a brief description of how international wire transfers work, see this post on the Bitcoin Foundation's blog: https://bitcoinfoundation.org/blog/?p=63 It's a fiat currency after all, so it only exists because because the US says it does. And only US banks (or US branches of foreign banks) have access to the Federal Reserve system. This isn't unique to the US and the US Dollar, BTW - it's just how fiat currency works. roy Title: Re: MtGox wires ARE delayed Post by: MPOE-PR on June 22, 2013, 03:43:53 PM So i'm not sure how the previous poster was able to get any information from them It's called forum posting, a subset of fiction writing. Title: Re: MtGox wires ARE delayed Post by: samson on June 22, 2013, 03:56:51 PM WTF ! If the US decides to go after Bitcoin in a big and more overt way then they could disrupt transactions which go nowhere near a US bank. Whatever makes you think that a US Dollar transfer would go nowhere near a US bank? For a brief description of how international wire transfers work, see this post on the Bitcoin Foundation's blog: https://bitcoinfoundation.org/blog/?p=63 It's a fiat currency after all, so it only exists because because the US says it does. And only US banks (or US branches of foreign banks) have access to the Federal Reserve system. This isn't unique to the US and the US Dollar, BTW - it's just how fiat currency works. roy Interesting read. So this goes to show that the US could interfere with many more USD transactions around the world if they wanted to. I guess one way to get around any interference would be to have the sending bank convert the USD into a different currency in house before sending the wire. For example a Japanese company that deals with a lot of foreign transfers could convert a USD payment into Yen and then wire the Yen to the recipient where it would be converted by the receiving bank into the accounts native currency. This would probably cost a bit more though. Title: Re: MtGox wires ARE delayed Post by: MPOE-PR on June 22, 2013, 04:18:38 PM WTF ! If the US decides to go after Bitcoin in a big and more overt way then they could disrupt transactions which go nowhere near a US bank. Whatever makes you think that a US Dollar transfer would go nowhere near a US bank? For a brief description of how international wire transfers work, see this post on the Bitcoin Foundation's blog: https://bitcoinfoundation.org/blog/?p=63 It's a fiat currency after all, so it only exists because because the US says it does. And only US banks (or US branches of foreign banks) have access to the Federal Reserve system. This isn't unique to the US and the US Dollar, BTW - it's just how fiat currency works. roy Interesting read. So this goes to show that the US could interfere with many more USD transactions around the world if they wanted to. I guess one way to get around any interference would be to have the sending bank convert the USD into a different currency in house before sending the wire. For example a Japanese company that deals with a lot of foreign transfers could convert a USD payment into Yen and then wire the Yen to the recipient where it would be converted by the receiving bank into the accounts native currency. This would probably cost a bit more though. Quote As I said earlier, USD does not really exist out of the US, meaning here that your bank owns a bank account with another bank in America to deal with USD, and the same is true for the merchant's bank that you are sending money to. The linked article is uniquely ignorant. There is such a thing as Eurodollars, which is a topic ignoramuses such as the people signing "opinions" for the Bitcoin Foundation scam are well advised to read up on. Yes, people deal in dollars outside the reach of the US all the damned time. There's even a fucking futures on them, one of the higher volume future contracts traded. How can people be this clueless, seriously? This is the problem of Bitcoin: nobodies make things with pompous names, such as "the official client" or "the bitcoin foundation" or what have you. These are no different in practice from a 3 inch reproduction of the Eiffel tower in masticated chewing gum. Then nobodies go around quoting this bullshit as if it were meaningful or relevant. Then shit hits the fan and everyone is like... "oh...because Bitcoin". No. Not because Bitcoin. Because nobodies. Title: Re: MtGox wires ARE delayed Post by: Phinnaeus Gage on June 22, 2013, 04:38:37 PM Mtux says Mizuho Bank's automated wire transfer API is broken right now. Wires can only be sent out manually by Mizuho. Gox is opening accounts at other banks, which should drastically improve USD withdrawal times and bypass the technical problems at Mizuho. This process should take around 2 weeks. Way does this remind me of FullTilt (poker site) prior to its demise here in the US? I beat that dead horse for about two years before abandoning my efforts to get my money back. Luckily for me, in about a week I'll once again gain control of the huge chuck of change that InstaWallet has been so kind to oversee for the past three months. The writing's on the wall In this here bathroom stall It's very clear to see That Mt Gox will cease to be Title: Re: MtGox wires ARE delayed Post by: Roy Badami on June 22, 2013, 05:36:36 PM The linked article is uniquely ignorant. There is such a thing as Eurodollars, which is a topic ignoramuses such as the people signing "opinions" for the Bitcoin Foundation scam are well advised to read up on. Yes, but I think Eurodollar deposits are generally largely backed by the deposit taker in turn holding dollars at a US bank, no? (Of course, in many cases the US bank will actually be the US branch of the same bank.) Foreign banks don't have direct access to the Federal Reserve System, and hiding wads of dollar bills In any case, from what I've read international wire transfers are normally settled via correspondent banks in the country which issues the currency. I'm sure there are exceptions, but you should generally assume that a USD transfer will go via one or two US banks unless you have information to the contrary. Title: Re: MtGox wires ARE delayed Post by: Roy Badami on June 22, 2013, 05:49:39 PM I guess one way to get around any interference would be to have the sending bank convert the USD into a different currency in house before sending the wire. For example a Japanese company that deals with a lot of foreign transfers could convert a USD payment into Yen and then wire the Yen to the recipient where it would be converted by the receiving bank into the accounts native currency. This would probably cost a bit more though. So, to take the case of a Mt Gox withdrawal (or deposit), if you withdraw or deposit in either your own country's currency, or in Japanese Yen, then although the transfer might still go through an intermediate bank, if it does then that bank will probably be either in your own country or in Japan. If you do the transfer in a third country's currency (such as someone in a country other than the US or Japan doing a transfer to/from Gox in USD) then the transfer will probably go via one of more banks in the third country. One might argue that involves an increase in jurisdictional risk (the transfer is now subject to three jurisdictions rather than two). Whether in reality it increases the risk of the transfer is less clear. roy Title: Re: MtGox wires ARE delayed Post by: MPOE-PR on June 22, 2013, 08:15:05 PM Yes, but I think Eurodollar deposits are generally largely backed by the deposit taker in turn holding dollars at a US bank, no? No. Title: Re: MtGox wires ARE delayed Post by: TimJBenham on June 22, 2013, 10:14:21 PM So this goes to show that the US could interfere with many more USD transactions around the world if they wanted to. And they have. In 2012 the US seized a USD wire from Denmark to Germany (http://en.wikipedia.org/wiki/Society_for_Worldwide_Interbank_Financial_Telecommunication#US_Control_over_Transactions_within_the_European_Union). It hs been reported that the US government has access to data on all international wires (https://financialcryptography.com/mt/archives/000783.html). See also http://www.coindesk.com/team-americas-dwolla-bashing-is-just-the-start/Title: Re: MtGox wires ARE delayed Post by: ArticMine on June 23, 2013, 12:35:41 AM So this goes to show that the US could interfere with many more USD transactions around the world if they wanted to. And they have. In 2012 the US seized a USD wire from Denmark to Germany (http://en.wikipedia.org/wiki/Society_for_Worldwide_Interbank_Financial_Telecommunication#US_Control_over_Transactions_within_the_European_Union). It hs been reported that the US government has access to data on all international wires (https://financialcryptography.com/mt/archives/000783.html). See also http://www.coindesk.com/team-americas-dwolla-bashing-is-just-the-start/Let me guess. The USD wire from Denmark to Germany used a correspondent bank in the United States. So in reality the funds went from Denmark to the United States to Germany. I doubt very much the payment could have been seized if it had been made in Euros. Routing a payment for Cuban cigars through the United States is just very dumb, and yes it did violate US law. Title: Re: MtGox wires ARE delayed Post by: MPOE-PR on June 23, 2013, 03:07:32 PM So this goes to show that the US could interfere with many more USD transactions around the world if they wanted to. And they have. In 2012 the US seized a USD wire from Denmark to Germany (http://en.wikipedia.org/wiki/Society_for_Worldwide_Interbank_Financial_Telecommunication#US_Control_over_Transactions_within_the_European_Union). It hs been reported that the US government has access to data on all international wires (https://financialcryptography.com/mt/archives/000783.html). See also http://www.coindesk.com/team-americas-dwolla-bashing-is-just-the-start/Let me guess. The USD wire from Denmark to Germany used a correspondent bank in the United States. So in reality the funds went from Denmark to the United States to Germany. I doubt very much the payment could have been seized if it had been made in Euros. Routing a payment for Cuban cigars through the United States is just very dumb, and yes it did violate US law. Coindesk is a source now. Because they got twenty people in a pub in London together, which is the pinnacle of accomplishment, and because they're too fucking clueless to know that wasn't the first time twenty people got together in a pub in London. This is their claim to fame, and they get quoted now. Wake up already, Bitcoin retardom. Title: Re: MtGox wires ARE delayed Post by: Nagle on June 23, 2013, 08:06:21 PM Quote Code: [23:08] <MagicalTux> we broke their system due to the volume Mt. Gox claims they overloaded Mizuho Bank, the second largest bank in Japan, with 515 branches, 26 million customers, and revenue over one trillion yen. Yeah, right. Title: Re: MtGox wires ARE delayed Post by: Rampion on June 23, 2013, 08:46:19 PM Quote Code: [23:08] <MagicalTux> we broke their system due to the volume Mt. Gox claims they overloaded Mizuho Bank, the second largest bank in Japan, with 515 branches, 26 million customers, and revenue over one trillion yen. Yeah, right. Nagle, is Bitcoin a Ponzi? Should we get out now? :D :D Title: Re: MtGox wires ARE delayed Post by: arbitrage001 on June 24, 2013, 11:41:19 PM Is it limited to wire to Citibank?
It has been 3 weeks since I requested the wires. I even have the wire confirmation from the Japanese Bank (Mizuho Bank, LTD) On the Wire confirmation document, it shown Bank of America, New York as the intermediate bank. And Citibank support told me they never received the wire. Is Bank of America in trouble? or is it blocking the wire for some reason? I heard some rumor there is going to be another major bank on the verge of blowing up and there will be no bail out this time. Is this related to what is happening right now? Title: Re: MtGox wires ARE delayed Post by: joesmoe2012 on June 25, 2013, 02:02:25 AM Is it limited to wire to Citibank? It has been 3 weeks since I requested the wires. I even have the wire confirmation from the Japanese Bank (Mizuho Bank, LTD) On the Wire confirmation document, it shown Bank of America, New York as the intermediate bank. And Citibank support told me they never received the wire. Is Bank of America in trouble? or is it blocking the wire for some reason? I heard some rumor there is going to be another major bank on the verge of blowing up and there will be no bail out this time. Is this related to what is happening right now? Did u call the Japanese bank to confirm it went out? Or how did you get this info? I have heard elsewhere tat citi is intermediary for chase and bofa for wires from the Japanese bank, and that's where the problem lies. Title: Re: MtGox wires ARE delayed Post by: joesmoe2012 on June 25, 2013, 06:24:53 AM http://www.reddit.com/r/Bitcoin/comments/1h0fmb/citibank_will_no_longer_process_any_transfers_to/
Title: Re: MtGox wires ARE delayed Post by: samson on June 25, 2013, 07:45:33 AM http://www.reddit.com/r/Bitcoin/comments/1h0fmb/citibank_will_no_longer_process_any_transfers_to/ This sounds like the start of a banking blockade based on bullshit to me. Title: Re: MtGox wires ARE delayed Post by: Rampion on June 25, 2013, 07:48:52 AM http://www.reddit.com/r/Bitcoin/comments/1h0fmb/citibank_will_no_longer_process_any_transfers_to/ This sounds like the start of a banking blockade based on bullshit to me. Cool, fools that wish to be "legit" and "regulated" will now see with their own eyes why Bitcoin was created. This experiment is now approaching "phase 2". The outcome will fundamental to its short term survival and its long term success. Title: Re: MtGox wires ARE delayed Post by: arbitrage001 on June 25, 2013, 11:36:09 AM Did u call the Japanese bank to confirm it went out? Or how did you get this info? I have heard elsewhere tat citi is intermediary for chase and bofa for wires from the Japanese bank, and that's where the problem lies. You can get the confirmation wire from Mtgox support. I contacted the wrong branch of Mizuho bank and they told me they don't do individual wire and told me to contact whoever that initiate the process (in this case, Mtgox). Title: Re: MtGox wires ARE delayed Post by: joesmoe2012 on June 25, 2013, 04:53:13 PM Give citi a call by chance?
Title: Re: MtGox wires ARE delayed Post by: arbitrage001 on June 25, 2013, 04:55:29 PM I did call citi.
The request of wire trace is originated from citi support. But once I got the wire trace and contact the support again. They told me I should contact Mtgox and their bank. Title: Re: MtGox wires ARE delayed Post by: joesmoe2012 on June 25, 2013, 08:18:48 PM Alright so then likely they are processing 0 more wires for gox at this point.
They are calling NZ customers and telling them this. Title: Re: MtGox wires ARE delayed Post by: howdoin on June 26, 2013, 01:27:44 PM Had 2 of my 4 wires returned to MtGox today, minus about $70 per wire due to fees.
Called Citibank and asked for a trace on the wire and reason for refusal (as I have wired from MtGox to this account before I know for a fact all info is correct). Citi could not find any trace of the wires coming in and/or being refused, they also directed me to Mt Gox and Mizuho to find out reasons for return. Contact MtGox several times, they always answered me within 24h but after one week and several emails they still refuse to show me the proof of the wires from Mizuho and keep telling me all wires were executed and refused by Citibank. I am annoyed at the fact that I am losing $70 on 5 separate wires ($350) for a problem originating from MtGox - I understand paying fees if I had entered the information incorrectly but paying them because of MtGox internal problems with their banks or authorities is not acceptable, they should cover those fees IMHO. Title: Re: MtGox wires ARE delayed Post by: Ascension on June 26, 2013, 03:31:19 PM There is a exchange called BitStamp that will solve all of your issues. Their customer support is far superior to Mt.Gox, wires take 1-2 days, getting verified is very easy and takes little time. So far I have yet to see their API go down. I would recommend trying them out as Mt.Gox seems to be spiraling downward.
Title: Re: MtGox wires ARE delayed Post by: RodeoX on June 26, 2013, 03:48:19 PM I think we should all consider that this will be getting much worse in the near future. Mt.Gox is NOT licensed to move $USD. Neither are other exchanges, and I fear they will begin having their accounts frozen and wires denied soon. This should come as no surprise.
If you don't like it, you should call your political representatives and give them an ear full. Only they have the power to shape the applicable laws. Title: Re: MtGox wires ARE delayed Post by: arbitrage001 on June 26, 2013, 08:44:13 PM There is a exchange called BitStamp that will solve all of your issues. Their customer support is far superior to Mt.Gox, wires take 1-2 days, getting verified is very easy and takes little time. So far I have yet to see their API go down. I would recommend trying them out as Mt.Gox seems to be spiraling downward. Buying bitcoin at mtgox and then selling at bitstamp cost too much. Cost around 0.6% to buy at mtgox, around 0.5% to sell at bitstamp and the price difference between the two exchange is around 3-5%. Then there is a fee to wire the money out from bitstamp. If anyone want to play save and get their money right away. Then this might be one of the only two routes (coinbase being the other. I don't mention campbx because of their low volume and even bigger price difference.) Title: Re: MtGox wires ARE delayed Post by: MPOE-PR on June 27, 2013, 02:10:12 AM I have a sad update to make today.
Overloaded by MtGox' success, the island of Hokkaido sunk earlier today. The untold casualties are but a small price to pay for the greatness that is the largest lardass in history and his numerous contributions to the welfare of mankind. RIP Hokkaido, you shall be remembered forever as MtGox Island. Title: Re: MtGox wires ARE delayed Post by: arbitrage001 on June 27, 2013, 09:15:42 PM Does anyone find a way to get the money out without paying a lot?
Title: Re: MtGox wires ARE delayed Post by: Amitabh S on June 27, 2013, 10:18:51 PM Maybe they just Joshin.
Title: Re: MtGox wires ARE delayed Post by: TimJBenham on July 03, 2013, 03:51:36 AM The two week suspension is over tomorrow. This will be a major test.
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