any dividend predictions? It seems like they will be on a low side this week...
Isn't there going to be some additional revenue from sales? |
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I can confirm that my "5 digit+" withdrawal was quite timely. In fact, it arrived yesterday.
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Minor update. [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?
[21:26] <ineededausername> MtGox official statement on FB says that you are delivering at a temporarily reduced rate to normal customers, too.
[21:31] <MagicalTux> yep
[21:31] <MagicalTux> we will starting next week
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<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. |
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Additional information, which makes the whole situation sound much better: [20:38] <ineededausername> is the 2 week estimate a soft or concrete estimate
[21:04] <MagicalTux> it's a worst case estimate
[21:04] <MagicalTux> we already have some wires going through again
[21:04] <ineededausername> so the queue is slowly being processed already?
[21:05] <MagicalTux> yep, only for specific partners who can't do without it (bitpay, etc)
They are still manually sending out wires to high-priority partners, it's just the automated system that doesn't work. |
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I have asked MTux some of your questions. [20:32] <MagicalTux> [09:32:02] <ineededausername> also, why does the technical problem take 2 weeks to resolve? <- banks
[20:32] <MagicalTux> [09:31:22] <ineededausername> how did your volume manage to break their system? they're one of the largest banks in japan... <- their volume in terms of number of international transfers per day is not that large
[20:33] <MagicalTux> we grew to be ~50% of all the international transfers on Mizuho, causing their system load to double
[20:35] <MagicalTux> their system was already pushed to the limit
[20:35] <ineededausername> what people don't understand is how a wire transfer system gets pushed to its limit, I guess
[20:36] <ineededausername> is it a technical issue, or an issue of manpower?
[20:38] <MagicalTux> technical, according to the bank
He has confirmed my (our) interpretation of his earlier comments, and still says it's a technical issue. |
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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.
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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. [23:08] <MagicalTux> we broke their system due to the volume
[23:08] <ineededausername> the bank's system?
[23:08] <ineededausername> what do you mean broke?
[23:08] <MagicalTux> yep
[23:08] <MagicalTux> it's broken
[23:08] <ineededausername> a technical problem?
[23:08] <MagicalTux> yep
[23:09] <MagicalTux> they're working on fixing this, and we're opening new bank accounts in other banks as I speak to resume transfers (it takes 2 weeks)
if anyone wants to interpret it any differently. |
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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.
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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  |
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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.
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I think gox might have a weekly limit on the number of outgoing wires.
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Answer the following questions.
>Was your wallet a local (not cloud) wallet?
>>If it was, was it encrypted?
>>If it wasn't, was it protected by 2FA?
These trivial security measures are all necessary, but not sufficient. If you didn't even have these basic protections, I have little sympathy for you.
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Is there something I don't know? No reason the price should be going down further... oh well.
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It is 2013 now... bitcoin didn't come out in 2008 :/
Are you sure about this?
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Hmm maybe they got their wire limit raised or something.
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I wonder when Loaded will come back to stop the downturn. Perhaps we need to say his name three times.
Loaded, Loaded, Loaded!
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I just got my wire today too, I requested it over the weekend.
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If the manipulator buys back in with all $3M all hell's going to break loose...
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