So those selling on MtGox... how do then intend to get their fiat out?
fiat withdrawals have not been affected. Just do a withdrawal. |
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Statement Regarding BTC Withdrawal Delays
Tokyo - JAPAN - February 07, 2014 February 10, 2014
Dear MtGox Customers,
In our efforts to resolve the issue being encountered by various bitcoin withdrawals, it was determined that the increase in the flow of withdrawal requests has hindered our efforts on a technical level. To understand the issue thoroughly, the system needs to be in a static state.
In order for our team to resolve the withdrawal issue it is necessary for a temporarily pause on all withdrawal requests to obtain a clear technical view of the current processes.
We apologize for the sudden short notice. All bitcoin withdrawal requests will be on pause, and the withdrawals in the system will be returned to your MtGox wallet and can be reinitiated once the issue is resolved. The trading platform will perform as usual for the needs of our customers.
Our team will resolve this problem as soon as possible and will provide an update on Monday, February 10 February 11, 2014 (JST).
We deeply apologize for the inconvenience caused, and thank you for your kind support and considerations.
Sincerely,
The MtGox Team
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!!!! You must have had a lot of coffee today |
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Another fairly new member screaming nothing is wrong with Gox. It should mandatory to show a users buy in price to show reasoning behind their thoughts, which in this case are entirely wrong.
I remember screaming "everything is ok" when I bought in high and the price tanked shortly after. Then I learned that I knew nothing, and to use price swings to my advantage. So go educate yourself before you claim everything is fine.
"I bought in high and the price tanked shortly after"hmmm..... an element of rage here? I bought in at $40 if you must know! |
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As I predicted 2 days ago - the BTC price is normalizing around $700. It will do that until October when it will rise to $5000 +
The thing with Gox...
It seems that on the 7th Gox adjusted it's BTC rate to be more in synch with every other exchange. It's interesting that they stopped the BTC withdrawals at the same time, as far as I can see that would be because of either one of these 2 possibilities (depending on which happened first):
1) They planned the price drop first and so they knew that would cause lots of people to buy more BTC, and then they would me more likely to withdraw it and sell it somewhere else - especially some of the people who have had fiat withrawal issues.
OR
2) They stopped the BTC withdrawals to fix the bugs they'd been having. This then cause a big price drop because lots of people freaked out and started selling all their BTC.
Either way, it doesn't spell the end of Gox. I am very confident that within 1 week everything will be back to normal
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Please use this thread to only post confirmed news from confirmed sources to help everyone understand what is obvious - bitcoin is in a downtrend to oblivion. My latest find comes, of course, from official sources in China and details how the Chinese government is planning a massive 99% attack on the blockchain. I'll put the main points below, but anyone can check the facts from the source: 1. Chinese offials delcare bitcoin a global financial virus2. Officials from other nations are in agreement with china China, including the US 3. The Chinese government has millions of petahashes ready to deploy on the blockchain to destroy the protocol 4. In addition to attacking the blockchian, China will sell all their mined bitcoins on MtGoxIt's obvious bitcoin has gone as far as it can go, but any other thoughts about this devastating news? F OFF |
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Nice. a large Dutch bank decided that the only way to do software upgrades is by closing all payments during the whole night. Can't get at my Euro's for another 4.5 hours (with a bit of luck). Bitcoin turns out to be a whole lot more reliable than my local bank  That bank must have gone bust and must be running off with all their customers money. The sky is falling in and actually holland itself must be trying to bring down the whole euro currency by pretending that it's just for 4.5 hours. Oh no - you will see - you will NEVER get your euros back. - Anti Gox Movement Executive |
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Stop screaming please.
I understand that you are upset with your coins stuck at Gox and I feel sorry for you.
AAAaaaaaaaaaaaaggghhhhh I am sooo scared!!!! LOL! |
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Gox going away will be positive in the long run. It's silk road all over again in bitcoinland
Sorry I don't agree. Gox going down would be very bad for bitcoin, as millions of bitcoin users would lose confidence, and the media hype would be really bad for bitcoin too. I hope for bitcoins sake that they are fine. Nothing points to them going down at all anyway. |
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I posted this in another topic, saying I am rather pessimistic on this... As to how Gox is going turn out on Monday, I hold quite a pessimistic view...
For every trade in the exchange, coins are simply changing hands, and no coins are generated or destroyed. Gox SHOULD always have enough bitcoins for traders to withdraw and there should never be ANY holdups. If they have resorted to sending coins manually in these few days to "catch up" with the backlog, they would have said so. The fact they have halted withdraw, it could be something more troubling.
Let's hope we get some good news
Doesn't anyone understand the complexity involved in running a website like Gox? It's an automated wallet system linked to a massive database of users accounts. It is very easy to imagine a glitch in that happening. it's much more likely that they really have a glitch than they are trying to scam their customers. That is pure paranoia. |
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OK so why would Gox add new security features to their site - obviously costing them a lot of time and money in November 2013 - just so that they can 'pretend' to have technical problems to steal their customers coins 3 months later!! https://www.mtgox.com/press_release_20131120.htmlANSWER: they wouldn't. They simply have a small glitch in their very complex web application that runs their site. So they are fixing it. end of story. |
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BTC withdrawals will be fixed in a few days and you trolls will all look very silly.
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Out of curiosity, how much do you have tied up with gox?
Not too much. I have equal number of coins in Gox, btce and localbitcoins - i think they are all good in different ways. Gox always had a better rate for selling & better withdrawals in AUD. btce better EUR withdrawals. Localbitcoins good for the more decentralized approach. I am not trying to kiss Gox's ass or something - just trying to point out that the Gox-hating club on this forum is way out of balance and a lot of them seem actually to be anti-bitcoin itself. So go figure. They have an agenda. If they can get everyone to hate Gox then maybe bitcoin itself will go down. It's the biggest exchange and most professional in it's feel and support. No joke they nearly always reply to my support request in 4-5 days max. Btce has no support as far as i can see. Trying to kill Gox is like trying to kill bitcoin so take all the trolls Gox-hating with a big pinch of salt. |
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stupid
Gox is the most professional & biggest exchange and if they wanted to steal their users coins, they could do it a lot more easily than by pretending to have a technical hitch.
Why would they do that?!!!
If they wanted to steal coins they would just pretend they got hacked or something. easy.
this is pure paranoia and nothing else
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with sites starting to accept bitcoin as payment, it looks good for btc future
there is no telling what will happen to btc but it looks like people will definitely invest in it if the price dips and what not
Governments banning it. US regulatory stance still not yet decided. Market totally cornered by a relative handful of whales who end up in a big fight to the death. Exponentially growing computational demands that already requires the power of 50 Super computers. Dodgy exchanges going under with everyone's funds and Bitcoins. .......go and google E-Gold. An electronic digital payments system backed by precious metals, right through the period of precious metals expansive boom. Talk about Win-Win-Win. Over 5 million users. Where is it now? Bitcoin used by thousands more people everyday. Instant money exchange - no fees. India, Africa can afford to send money to relatives easily, quickly Totally decentralized and IMPOSSIBLE to shut down Price determined by users not banksters German government & US Government accept bitcoin as a real currency who gives a toss about e-gold? Where is Matthecat now? If you hate bitcoin so much what are you doing here exactly? I mean seriously all you do is tell people how bad bitcoin is. PS. the price in 1 year will be over $5000 |
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indeed...  |
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THER IS NO CRASH |
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You have to understand that MtGox has some credibility issues around here due to the fact that when they announced a 2-week "temporary" hiatus on USD withdrawals last June, it turned into many months and very inconsistent withdrawals when they did return.
It seems whales were able to move fiat in and out through sheer volume and paying a premium. Small investors and traders were treated as 2nd-class citizens.
Needless to say, when they recently suspended BTC withdrawals and promised to have things back running in 2 weeks, many people were skeptical.
Sure, understood. I'm not trying to make excuses for Gox - I just think that most of the comments on this forum are waaaay out of balance. Of course it sucks that their withdrawals have had issues. But it doesn't mean they are trying to scam everyone. That's my point. i'm just trying to bring some balance to the force. I really don't think anyone needs to be afraid that Gox is going to steal their money. |
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THERE IS NO CRASH. END OF STORY |
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