|
We are seeking a partner for a bitcoin related business to be based in Japan.
Partner must be a Japanese resident, living near Tokyo, with good English speaking skills and excellent character references.
Duties will include setting up a Japanese limited liability company, bank accounts, and management of accounts and trading. Duties will be part-time.
If interested, please PM me.
|
|
|
|
Note that the 5% is a bank fee.
...
Bank problems is a much more plausible explanation.
Firstly, we don't really know who collects the 5%, just that it is charged. This may well be a combination of both problems. There is no evidence of any USD withdrawals being processed after 12 June, so the "10 withdrawals a day" is likely false or actually applies to the 5% manual option. I suspect they have no working banking relationship right now for the old style ABA wire transfers, but are hoping one will materialize. |
|
|
|
Not true.
Bitstamp publish their total volume only. MtGox don't publish a total volume, but splits it into individual currencies. If I deposit EUR on Bitstamp and withdraw EUR from Bitstamp, it is still counted as USD volume. On MtGox it would be counted as EUR volume. To compare the two you need to add all currencies on MtGox. Many people don't know this.
Well this seems to be mostly a discussion about USD and I believe the USD volume on bitstamp is now larger. In any case, the ratio of quoted USD volume has been tilting strongly away from Gox, likely due to a loss of faith in their business practices caused by their opacity, and probable falsehoods. |
|
|
|
the hard cold facts seems to indicate that: a) Gox is an honest company, but they are withholding information regarding why they are having these problems, and in fact they are probably lying; b) they are heavily delaying outcoming wires, while incoming wires work just fine (ohhh... No "overwhelming" with incoming money?). Everything strongly indicates they are having liquidity problems, and that they have been forced by circumstances (seizures, Coinlab misappropriation) to run a fractional reserve.
Nice summary. Meanwhile, bitstamp volume continues to exceed Mt. Gox volume of actual trades by at least 50% each day. I think there is a message for Mt. Gox management here to become more transparent about what is going, or the business is going to end up failing. There is nothing inherently wrong with charging a larger fee for withdrawing funds. Deliberately mis-representing the facts and not making clear those fees on the website is a different matter, which will ultimately destroy trust in Mt. Gox and lead people to use other exchanges. |
|
|
|
The following was received from Kinnard Hockenhull today: ** Changes at BitBox ------------------------------------------------------------ Hi BitBox users! There are going to be some changes at BitBox. Our Chief Technical Officer will be leaving the team. I expect he will go on to do big things. For the time being, we will be suspending trading at 5:00 PM PST Wednesday September 25th. You can still login, view your account and process withdrawals for the next 90 days. After then withdrawals will be processed manually while we build our new trading system. It’s notoriously difficult ( http://qr.ae/NKgZC) to predict software development timelines but we will be working very hard to get the new site up and running by the end of November. It’s been a blast serving you since BitBox re-launched in May. |
|
|
|
4.Bank has provided an option for speed processing so if you urgently need money within 7 business days we can sent the fund that you requested manually. This method is really limited and out of negotiated price contract with the bank, the bank fee is high 5% because we have to convert JPY into an other currency (That we cannot choose, the currency depends on your country and only one currency is possible by country) then it takes 5 business days to get the money.
This is interesting. I agree it is most consistent with Gox not having enough USD. It costs about 3% to convert to USD at retail in Japan. The fee is 5% plus some, so it appears there is also an international wire transfer involved, with the various fees along the way. After their USD losses perhaps they are running a fractional reserve in USD. The real solution here would be for them to actually explain what is going on. |
|
|
|
For USD withdrawals, please see this analysis: http://bitcoinmagazine.com/7064/In all likelihood they are not processing USD withdrawals at all the normal way, they may have no bank willing to do so at the present time and they keep hoping one will show up. The only way to get money out is the 5% option, which is inconsistently available if you ask support to do it, and then takes about a week. There are several examples past in this thread. |
|
|
|
|
Volume is now larger than Mt. Gox. And you can actually get your USD out.
|
|
|
|
The next meetup (not the exchange event) will be on Bitcoin Wednesday, October 2, 7-9 PM. It will be held at Ultimate Consignment in Mesa. http://www.ultimateconsignment.com/mesa.htmOur speaker will Mark Thompson who will speak on "A merchant's view of bitcoin". Additionally, there will be a 25% discount on all items in the store purchased with bitcoin by the attendees! |
|
|
|
|
Sadly, seems Mt. Gox is out for the count at the moment. Luckily, there are more alternate exchanges these days.
|
|
|
|
|
The next event will be the Tempe Farmer's Market Offline Exchange on Sept. 21, 4-7 PM, at the Tempe Farmers Market.
Please join us to buy/sell bitcoin and trade for other valuable items like precious metals.
|
|
|
|
|
It would be more interesting if they actually had a way for customers to provide input. A good sign nonetheless.
|
|
|
|
|
While all of these reasons are definite existing problems, many of them will disappear with greater adoption.
Whether BTC succeeds, it strikes me as inevitable that we will eventually use digital currencies.
|
|
|
|
The probability they can compromise closed-source machines, like ones running Windows with backdoors or even OS X, is too great. While there are closed source portions of OS X, the core is open-source Darwin. |
|
|
|
Is there any way to predict BTC value for the next 14 Days. I'm not very good at math and I'm trying to come up with a prediction for the next 2 weeks. I can say that I am going to be opening up a few books to get a clue on what I need to survive as a crypto investor, starting with a mathbook any suggestions on what books I should read.
Assuming you are not a troll, I would suggest starting with Malkiel's A Random Walk Down Wall Street to understand the difficulty with any prediction of this type. |
|
|
|
It happens when their hotwallet has run out of coins and needs to be refilled from cold storage. Try again in a few hours and it should be fine.
If that is true, it would be awfully nice if their UI explained the actual problem! |
|
|
|
A few other interesting pieces of information:
The international transfer queue is actually progressing, and has reached mid June. If anyone have an international transfer issued before June 20th which has been in pending for more than five days, you should contact support. There is probably something wrong with it. A misspelling, mistyped account number, your bank holding back the payment (there are a few examples of Citibank doing this), etc.
Do we know the last time point on these? In other words, how long did it take to reach mid-June from the last known time point? This would allow us to calculate how long it is likely to be before they process the ones from mid-July. Hasn't it taken over a month to progress from beginning June to mid June? If so, that means it could be a long time for requests made in August. Mt. Gox should really be posting this information periodically on their site. |
|
|
|
|
Show Posts
