Interesting that this decision came one day after my request of higher withdrawal limit went through, and I the same day (yesterday) requested a order to take out 8000 dollars, so what is happening to my withdrawals now (it is more SEPA withdrawals that hasn't went through yet also)? More information please!!

Why are you not surprised?

If I have understood it correctly they are waiting for a new Yubikey from Mt.gox.

Zhou, any update on the withdrawal problems?

Thanks for giving a helping hand if I would need it in the future, Charlie.

Yes I have a Yubikey, and Mt.Gox should as you are saying, be much better at communicating with their customers.

I had two separate SEPA withdrawals (on 1500 dollars and the other 2000 dollars), the one of 1500 dollars seem to be on its way to my bank account within a couple of days, I will update my post as I promised when I have them on my bank account.

I also did a Paxum withdrawal again today of 1995 dollars, still no sign of that money, lets see what will happen to this one.

Edit

I did a new SEPA withdrawal for 1990 dollars, this one hasn't gone through yet.

Also my Paxum withdrawal of 1995 dollars hasn't gone through yet as well.

So my situation is like this right now:

3500 dollars "stuck" at a pending SEPA transfer. No idea how long that will take according to the info I got.

2000 dollar transferred today to Paxum, lets see what will happen to this one.

I will update this thread when I have any new info.

Edit:

2000 dollars for a Paxum withdrawal are on my Paxum account.

3500 dollars for a SEPA withdrawal is on my account

Good for you that you could talk to him, I haven't been that lucky, hard to know what is happening, but he isn't doing it any better when he doesn't communicate.

I am trying Paxum withdrawal right now, what is your experience there, same as SEPA?

Tried it many times, he hasn't been online for the last 2 days.

Still no answer from Mark Karpeles. I had an answer from the support saying that they didn't know when SEPA transfers will work again (meaning my transfer is not going to go through), but that didn't help much. I want to higher my limit so I can make some bigger withdrawals, but it almost seems like they want you to keep the money on the account. Right now I don't want that for different reasons, but MT.Gox is making it very hard for me to get my money out.

Does anyone have any contact with Mark in the last 1-2 days?

Just sent an email saying: Sepa Transfer.

I am having a problem with my Euro transfer, how do I get help with that?

I have talked to my bank and they thought that this is strange, the money should have been on my account yesterday, and it should not take more then 2 bank days to transfer the money, today it is Thursday, so that is 3 bank days. Asking again, anyone have had any problems with SEPA transfers? Or anyone has had SEPA transfers going through fine?

I have a lot of money on Mt.Gox so I would like to know if someone have tried to do any SEPA transfers.

Magical.Tux have been away from IRC/Freenode for over 2 days with no answers, so no help there.

I made a request for transfer of my money on Saturday, so the withdrawal order probably went through on Monday. Now it is Wednesday and the money isn't still on my account. What is your experience of SEPA transfers, how many days should it take?

I thought that SEPA transfers main points are that it is pretty fast and cheap.

I choose the wrong word, but I think you understand my point of view. Change it to wrong/unethical/improper. Everyone of us can vote with our BTC and fiat currency's, if a exchange do have a "unethical" way of doing business, then they shouldn't be in the Bitcoin Economy, it's all about common sense.

My number 1 and 2 will to some degree vanish if we have a much more decentralized exchange situation, but as it looks like today, my options are the ones I have stated. At the same time, I understand your standpoint, but you have to also understand that regulations, call it voluntarily regulations is in some cases (as Mt.Gox situation is today) a healthy option compared to no regulation at all.

3. If we look at the problem decentralization/centralization issue. We should as much as it is feasible choose to go for more decentralization. Don't put all your money at one exchange etc.

Reason: Bitcoin is in its nature decentralized, we want the power over Bitcoin to be spread to as many as possible, this will also lower the risk of big failure, big scams etc.

Because Bitcoin in its nature is decentralized, you would think that people investing time, effort and financial means around Bitcoin would try to make for example the exchanges as decentralized as possible. But the world doesn't look like that, it is much easier to for example centralize a exchange and have as we have it today with Mt.Gox one exchanges that everyone finds liquidity at. Because we could suppose that Mt.Gox doesn't want to create a "exchange pool" with other exchanges and by that lose potential fees through their own platform. We as a community needs to put effort on the exchanges that get in the position that Mt.Gox is in right now, being number one.

My suggestions are these, feel free to make comment on them and add suggestions as well.

1. Insider trading from all exchanges should be strictly illegal (including own bots that does the trading on algorithms), specially on their on exchange but maybe even on other exchanges (when it comes to active trading). This could be looked at from a committee  (that we as a community in a democratic way will vote for) that will get the right to act accordingly, if there are suspicion to look in to the matter in different ways.

Reason: Easy to understand, you can see all other peoples orders, amount of BTC/fiat money, trading habits of each account, money flows, BTC flows etc.

2. Some kind of audit on the financial health of the company, like do they have the Bitcoins they should have that their customers have deposited, same thing with fiat currency's, at which accounts are they, how much etc.

Reason: If Mt.Gox loses all their financial assets, then I would say Bitcoin will have it very hard to rise after that (for ever). Also it is a trust issue, it is much easier to get into Bitcoin as a merchant etc. if you know that your money is audited.





Many things has evolved over thousands of years, thinking that markets will take care of that, market will take care of this is a naive standing point. I am the first to acknowledge that Bitcoin is a very interesting and necessitous financial tool (because of the way our world looks like today) that have the potential to, to some part revolutionize the world. But having said that some part of the world today looks as it does because it works.

I hate it when people look at everything in black and white. Like if we have two pools, (Love) Bitcoin and (Hate) the financial industry, the world doesn't look like that, the financial industry of today believe it or not have some part of their business that are working pretty good. Let us adapt the good parts of the present world order we now live in and in-weave it with Bitcoin (for the new world order). It will make Bitcoin much more prosperous and will attract people with different backgrounds and not as it is today a very specific individual (background).

 
 

Talking about volume, forgot about that. I have just started to trade this market. My conclusion is that most volume is from the bots (beside the volume from the manipulator). Because Mt.Gox is taking at least 0,25 % in fees per trade on each side, that means that the only one that can have active bots is Mt.Gox them self. So the big picture. Most volume are from Mt.Gox, the real volume should be at a much lower level. Money is going back and forward by two groups: Mt.Gox own bots and "the manipulator". Together maybe they have 80-90 % of the volume.

If this is really the case that the big majority of the volume is from this two parts, then Bitcoin shouldn't be trading at 5.70 dollars. More like 2-3 dollars.

If you want to trade this market you should know that 1. Mt.Gox is allowing this kind of act, because anyone can see it happening. Because of this no one cares, in the long run I don't think this is good. But this is the rule of the game today. 2. If you don't understand or have not that much experience trading than I would say that Bitcoins exchanged/traded at Mt.Gox right now is a massive hustle for the majority of people out there. 3. I know the game, and I also know that Mt.Gox rates is manipulated, knowing this all trades that I make are at my own risk.

...at doing so. People are losing big because of this.

There is someone/group that are playing a unfair game at manipulating the Mt.Gox exchange. They/him have at least 30 000 bitcoins worth of fiat/BTC that they move around in by putting up big walls, removing them. Try to make people panic selling and panic buying. Because bitcoin isn't regulated in any way this is the wild west of trading, no one seems to care, because we know that Mt.Gox knows exactly who this person/group is. The evidence is easy to collect, when like 10 000 -15 000 bitcoin walls are removed in a second (many many times over), it is overwhelming evidence that someone is playing a unfair game (if you are not prepared).

In this condition, I recommend people that can't trade to stay out of trading. Just buy and hold, or put buy orders at low levels and let him/the group manipulate without us participating.

Also, we should ask Mt.Gox who this is. Because this has been going on for a very long time, more than a month? There are some people on this board that have tried to follow all the tactics of this person/group. Any information is good.

+1