Several of the people trying to escalate the situation by spreading rumours here, are busy taking arbitrage as well. I admit that. I don't see how you could take advantage of arb if you can't withdraw the fiat.... |
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Get BTC, transfer out of Gox, sell BTC on coinbase.
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Faith is eroding faster than the prioritized whales can take advantage of arb opportunities. Gox users experiencing withdraw symptoms.  |
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So, I'm posting a bounty for the person that can show a USD withdrawal requested AFTER 7/4/2013 and that is subsequently put into their account.
OP clearly stated that the bounty is valid if requested after the given date. As there is no time given, that would be at least 7/5/2013 in any time zone. 7/3/13 @ 16:16 PDT = 7/4/13 08:16 JST.
Irrelevant. [15:01] <EPiSKiNG-> MagicalTux = BEST
[15:01] <EPiSKiNG-> MtGox = BEST!
Relevant. Do I owe 0.25btc to EP?
Yes. 1o16cfoCRdYh3XaHQawd1Ls8QqxwrhNEj No. YOU CAN TRUST ME! EPiSKiNG-'s COINS!! BUYING / SELLING BTC - USA --- View my OTC Trading Feedback!!
If there is just a little spark of truth in the first statement, EPiSKiNG will return the coins earned from the bounty immediately.I had paid my portion of the bounty which was .25 BTC. I sent EPiSKiNG a message, we'll see if he follows through. I highly suspect he is getting preferred wire status as he is the only one who ever provided proof of a USD withdraw. Unfortunately, his actions might have convinced other individuals to wire money into Gox, thereby trapping tens of thousands, if not hundreds of thousands of dollars. |
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I do some research and found this site for example: http://forum.gaijinpot.com/showthread.php?114083-Cashing-a-chequeIt seems that cheques in Japan as in Germany and in many other countries not to be common. You can not compare it with the Anglo-American world. Other countries normaly do not use cheques, more precisely: bank cheques. It would also not change anything. AML and everything else also applies to bank cheques. There are even more requirements for these cheques. Hhhahaha wow, great investigative work with that forum thread! Why the moderators still allow you to speak is unbelievable. Worthless commentary. |
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Evidently they are only sending out 10 total SWIFT Payments a day - worldwide.
If they have thousands of customers, it could take decades for each customer to make a couple withdraws.
They should just auction off these 10 slots daily. Some guy with a million bucks on there could pay $5000 to get his cash out and arbitrage the price back towards equilibrium pretty fast. Precisely. https://bitcointalk.org/index.php?topic=179586.msg2932780#msg2932780 |
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Wow. How'd you find that?
I have an account on the PACER federal court document search system, and happened to run across it. It was filed on July 8th but I have heard nothing about it, so I thought it would be interesting to some people. Thanks, will definitely use in the future. This is very big, even if it is bad news. Thanks for breaking it. |
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Wow. How'd you find that? |
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https://blockchain.info/api/exchange_rates_apiAnother main coin price API source have switched their mind (without notice  ) as you guys here know, MtGox phucked up their withdrawl and force everyone a "haircut". Stop the Gox. Switch to your local coin exchanger! From a Chinese forum, identity verification is needed for Bitcoin withdraw. Seriously, F___ MtGox! Whoa! I can't believe anyone still has their money at Gox... |
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And to be fair.. I received this a few minutes ago... I am not trying to send that BTC anymore atm so idk if it is fixed but.. try again.. it's probably fixed. "Hello Nathan, We apologize for the inconvenience caused. As of now the issue has been resolved, However still you face any difficulties regarding the Invalid Address let me know. Best regards, Mt.Gox Team https://www.mtgox.com" Regards, Vox So it took 7 hours? |
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Wondering if there are any exchange services for mtgox, like the former sites aurumxchange and bitinstant. After many google searches, I found none yet...
Do any of you know if BitInstant will offer the posibility of 'selling' mtgox USD for BitStamp/BTC-E ? I realize many of us would profit from this because of the market differences between mtgox and the rest, and that maybe mtgox wouldn't want their customers to move their funds..
Oh ya totally, they'll take a 15% haircut just for you! |
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Who is still buying at this spread at Mt. Gox? Are there a handful of people who CAN withdraw there and they are arbitraging this?
No, the people buying on Mt. Gox are those who have USD stuck there. It's still possible to get Bitcoins out of Mt. Gox (maybe; there have been reports of trouble). So people with USD stuck on Mt. Gox are buying Bitcoins at a 15% loss just to get out. Right. What I don't get is who would possibly sell their BTC unless they were getting their wires prioritized? If it were a truly free market, the price would have skyrocketed months ago. |
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Evidently they are only sending out 10 total SWIFT Payments a day - worldwide.
If they have thousands of customers, it could take decades for each customer to make a couple withdraws.
Worry not. It will all come to a natural equilibrium when they end up with 50 customers. Things will go smoothly then. Lol yes. |
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Because they are withholding a large sum of fiat from Bitcoiners.
In case they would finally shutdown, all the bitcoins held by them will be migrated quickly to all the other exchanges, however the fiat cannot.
The low supply of fiat and a sudden increase in bitcoin supply will cause the price to drop drastically in the other exchanges.
This will lead to a short-term panic bear market for sure.
You can bet on it. The cumulated bids from the order books: Mt.Gox: 14,433,186 USD Bitstamp: 1,324,419 USD GoxUSD/BitstampUSD Ratio: 1:11 I still can't believe you are talking about order books.... look at VOLUME or better said, ACTUAL TRANSACTIONS! |
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Who is still buying at this spread at Mt. Gox? Are there a handful of people who CAN withdraw there and they are arbitraging this?
Why people _buy_ BTC at MtGox is obvious: You can, for the time being, withdraw BTC (though there seems to be problems with that too now). Why people _sell_ BTC for worthless mtgoxUSD is another question. There is zero proof that the CEO / employees do withdraws for friends who do arbitrage.... but we can all ask questions and do our own thinking. *This is totally speculative I wonder who that may be.... http://www.youtube.com/watch?v=UP1YsMlrfF0$3721 Exchange fee (lets assume 0.5-5% of total value wired) Total Value: 0.5% - $744,200 1% - $372,100 2% - $186,050 3% - $124,033 Buy Bitstamp/Coinbase - sell at Gox? http://corporate.visa.com/pd/consumer_services/consumer_ex_rates.jsp |
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everyone blames Gox- and to be fair they have had their fare share of fuckups
however, the other exchanges are TOO SMALL at the moment to be facing the same problems mtgox has been facing.
once they "take over" they would be in the EXACT same situation.
part of the problem IS gox. a huge portion of the problem is the traditional banking system - this needs to be addressed correctly by the WHOLE industry. only then will the problems decrease
LOLZ so what you are saying is that the entire system is messed up and that it has to conform to Bitcoin exchanges? Gox is the lone problem, with a small fraction of bad luck. |
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I can't help thinking that MtGox's bank are covering themselves against potential SWIFT recalls from US based depositing banks.
Sending banks can recall a wire whenever thay want by the looks of it - just like a credit card chargeback.
This is obviously just a guess.
Hmm good theory. |
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Bullish action on Gox = Customer Sentiment at all time low.
People arent trusting gox if they are buying bitcoins at a super high price with current events in place concerning legal actions against gox etc.
Precisely. And now people are willing to take 12.5% haircuts to ensure their money is safe. What size of spread will it take for people to realize that Gox is illiquid? 15%? 20%? 25%? Coinbase doesn't use Gox prices Bitpay doesn't use Gox prices Bips doesn't use Gox prices |
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Can anyone confirm this conversation? If this is true, then we need to escalate this to a major news source. Gox needs to be outed for the fraud that it really is.
I can confirm it - it's on my screen now in the #mtgox channel on freenode. [07:40] * cyro432 has joined #mtgox [07:40] <cyro432> MagicalTux, people in this forum are saying they are going to go to SEC over not receiving money [07:40] <cyro432> https://bitcointalk.org/index.php?topic=179586.500[07:41] <Title> [ MtGox withdrawal delays [Gathering] ] [07:41] <DBordello> MagicalTux, that would be great. I am sure it'd help reduce the load [07:42] <cyro432> I am aware of a number of delayed wire transfers over 3 weeks old [07:42] <@MagicalTux> cyro432: not much we can do right now because of US govt [07:44] * torment has joined #mtgox [07:49] * sheldonthomas has joined #mtgox [07:53] <phantomcircuit> cyro432, irony of ironies going to the us gov to fix a problem they largely created The differences in time shown here are due to the IRC program displaying local time. My timezone is GMT+7, Bangkok time. Whoa, alright time to hit up some media contacts everyone! I don't get it. What is new here? The Dwolla seizure has been known for a while. Have you been living in a cave for the last three months? No. What Karpeles is confirming is that the USD withdraws are being halted by the US gov. NOT due to problems with Mt.Gox's banking connections, which they have used as an excuse the last 2 months. This essentially means that USD withdraws will not resume for quite some time, if ever. I thought their dwolla acct was seized due to non MSB compliance in the US which Mark lied about over a year ago about. [07:42] <cyro432> I am aware of a number of delayed wire transfers over 3 weeks old [07:42] <@MagicalTux> cyro432: not much we can do right now because of US govtHe is talking about the current situation, not Dwolla in May. The date of that conversation was July 24th. |
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