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2101  Economy / Service Discussion / Re: 0.25 BTC Bounty - Show me a Mt Gox USD Withdrawal :) on: July 16, 2013, 04:23:48 AM

I do not work for Gox.  I've just been around long enough to know that they don't move at the pace most people expect them to move.  Improvements could be made here.

You, however, are exaggerating.  The outage was 2 weeks.  There outage is over, but there is a large backlog of withdrawals that they are working through.  I have not seen any claims that cancelled wires were not made available to trade.  I have seen several claims of the converse (people cancelled withdrawals, bought btc, and then withdrew).  They have already clearly explained the situation with the press releases I linked.

It's been 7 business days (counting today) since withdrawals resumed, and when they resumed them they estimated it would take several weeks to work through the log.  You people have no patience.

What is happening with Mt.Gox is unprecedented, history is not an indicator of future performance as you are suggesting.  May I remind you that you are talking about a incompetent CEO who told authorities that his business neither exchanged currency nor was a money transmitter.  

"In particular, Karpeles answered no to two important questions: “Do you deal in or exchange currency for your customer?” and “Does your business accept funds from customers and send the funds based on customers’ instructions (Money Transmitter)?”

http://techcrunch.com/2013/05/16/mt-gox-dwolla-account-money-seizure/

I'm sure with his incredible leadership Mt.Gox can handle the avalanche of shit coming their way.  

Unprecedented huh?
SEPA withdrawals were blocked/delayed for a month or more.
Dwolla withdrawals were blocked/delayed for a month or more (months before the account was finally closed).
They have had several banks accounts closed over the years, including one that lead to a very public court case in France.

And this is one reason why it takes them so long to respond.  People send daily emails which results in 10 times the volume to work through in their email queue.  I'm glad (but not surprised) to hear that your issue has been resolved.

No offense, but you're starting to sound like Baghdad Bob.

Gox has been extremely derelict in communicating with the people to whom it owes hundreds of thousands of dollars. If they gave satisfactory answers to the first email, customers wouldn't need to pester them over weeks and months. To my knowledge, they never even issued an official statement about the Dwolla matter after the initial, "We don't know anything about it." The other "official" statements have been clear as mud.

Questioning the veracity of their claims is not FUD at this point, it is a legitimate inquiry into the risk of this situation by people with a lot of money on the line. Your suggestion of more "patience" has no place in the world of Bitcoin, because most know that where there is smoke, there is almost certainly fire.

Don't worry, I'm not taking anything personally.  Call me whatever names you want.  I understand people are upset about their money.  That said, people should do their due diligence before giving so much money to anyone.  You can't just trust a business because it is a market leader.  Anybody who has investigated the history of MtGox will not be surprised by the recent delays.

This is not the first time there have been issues, and it will very likely not be the last.  Moving as much fiat as MtGox is very difficult to accomplish due to regulations (and worse, uncertainty about regulations).  Banks can't afford to run afoul of the law, so they tend to be very conservative.  Part of standard operating procedure is to set transfer limits for new accounts that can last months.

All threads like this do is create an environment of fear and increase the demand on both the withdrawal systems and the customer support systems.
2102  Economy / Economics / Re: Lower Transaction Fees = Liquidity on: July 16, 2013, 03:50:30 AM
In fact, I am curious about where will the transaction fees go to finally. Huh

Version 0.8.1's lowest fee is 0.0005.
Now the version 0.8.3's lowest fee is 0.0001.

1 million transaction would cost nearly 100 BTC.
They can't just disappear.

They are awarded to people who run transaction processing hardware and software that verifies the transactions.  Colloquially these people are referred to as miners.
2103  Economy / Service Discussion / Re: 0.25 BTC Bounty - Show me a Mt Gox USD Withdrawal :) on: July 16, 2013, 03:00:10 AM
After a week of daily emails to Mt. Gox demanding that they refund my outstanding wires (from June 17) back to my trading account, I am pleased to announce that they have just done so. I have converted to coin and moved to Bitstamp. I am very happy for this resolution.

I saw a post on this forum of someone sitting with USD 40,000 sitting in limbo for 12 weeks without resolution. I feel for him...

And this is one reason why it takes them so long to respond.  People send daily emails which results in 10 times the volume to work through in their email queue.  I'm glad (but not surprised) to hear that your issue has been resolved.
2104  Economy / Service Discussion / Re: 0.25 BTC Bounty - Show me a Mt Gox USD Withdrawal :) on: July 16, 2013, 02:38:14 AM
Do you work for Gox or just adulate them from afar?

Explain this:

Not sending wires for a month.
Refusing to refund funds not wired to the trading account.
Ignoring all requests for a clear explanation of what is going on.

Yeah everything's fine - they're just backlogged. Sure dude...



I do not work for Gox.  I've just been around long enough to know that they don't move at the pace most people expect them to move.  Improvements could be made here.

You, however, are exaggerating.  The outage was 2 weeks.  There outage is over, but there is a large backlog of withdrawals that they are working through.  I have not seen any claims that cancelled wires were not made available to trade.  I have seen several claims of the converse (people cancelled withdrawals, bought btc, and then withdrew).  They have already clearly explained the situation with the press releases I linked.

It's been 7 business days (counting today) since withdrawals resumed, and when they resumed them they estimated it would take several weeks to work through the log.  You people have no patience.

But...  wires were de facto suspended since at least 6/14, which was prior to the official suspension.  And nobody, NOBODY has posted to this thread with evidence that a single wire has gone thru since pre 6/14.  So we are over a month now.

Roll Eyes

Because this thread is an authoritative source of USD withdrawal records.  I'm done.  Continue to spread your FUD.  I won't interfere anymore.
2105  Bitcoin / Mining software (miners) / Re: CGMINER ASIC FPGA GPU overc monit fanspd RPC linux/win/osx/mip/r-pi 3.3.1 on: July 16, 2013, 02:35:20 AM
README is where you can find it.

For the lazy:
Quote
Q: Is this a virus?
A: Cgminer is being packaged with other trojan scripts and some antivirus
software is falsely accusing cgminer.exe as being the actual virus, rather
than whatever it is being packaged with. If you installed cgminer yourself,
then you do not have a virus on your computer. Complain to your antivirus
software company. They seem to be flagging even source code now from cgminer
as viruses, even though text source files can't do anything by themself.
2106  Economy / Service Discussion / Re: 0.25 BTC Bounty - Show me a Mt Gox USD Withdrawal :) on: July 16, 2013, 02:30:05 AM
Do you work for Gox or just adulate them from afar?

Explain this:

Not sending wires for a month.
Refusing to refund funds not wired to the trading account.
Ignoring all requests for a clear explanation of what is going on.

Yeah everything's fine - they're just backlogged. Sure dude...



I do not work for Gox.  I've just been around long enough to know that they don't move at the pace most people expect them to move.  Improvements could be made here.

You, however, are exaggerating.  The outage was 2 weeks.  There outage is over, but there is a large backlog of withdrawals that they are working through.  I have not seen any claims that cancelled wires were not made available to trade.  I have seen several claims of the converse (people cancelled withdrawals, bought btc, and then withdrew).  They have already clearly explained the situation with the press releases I linked.

It's been 7 business days (counting today) since withdrawals resumed, and when they resumed them they estimated it would take several weeks to work through the log.  You people have no patience.
2107  Economy / Speculation / Re: Wall Observer - MtGoxUSD wall movement tracker - Hardcore on: July 16, 2013, 02:18:09 AM
We dropped to 65 and then right back where we started at 100+.  Did ANY money leave Gox AT ALL?  Or was this all just long-term bull traders trying to outfox each other?

Did any of those coins left MtGox?

Impossible to say, but the bitcoin on the order book has certainly been decreasing lately:
2108  Bitcoin / Mining software (miners) / Re: CGMINER ASIC FPGA GPU overc monit fanspd RPC linux/win/osx/mip/r-pi 3.3.1 on: July 16, 2013, 12:57:24 AM
It's highly likely that your hub can not provide enough power for 33 USB block eruptors simultaneously.  In fact, from your experiments, it seems to not be able to provide enough power for more than 7 at a time.  What power levels is it rated at?  Each block eruptor will need 0.5 - 0.6 Amps.

Power Supply is fine, coming from Win7 where they work.  Sparkle 400 is 30A@5v.  Thanks!

They're all hashing.

10890Mhs/333Mhs=32.7

Exactly.  It's driving me nuts that there's no work!

Why not use 3.3.1?  I had to upgrade from 3.1 to get my 61 erupters working, but they are working fine on 3.3.1.
2109  Economy / Economics / Re: Winkelvoss ETP could become THE pricing mechanism for BTC on: July 16, 2013, 12:55:28 AM

Go find someone to give you a hug.  Life is much more pleasant when you let go of your anger.

What are you, a teenager? Using the whole "U mad?" schtick? C'mon, you gotta do better than that - it's old.

I don't engage in discussions with people who can't make their point without being civil.

If you can make a comment without calling someone an idiot or inbred or an asshole or a teenager, and there is something worth replying to, maybe I will respond.  Until then, you are not worth engaging.
2110  Economy / Economics / Re: Winkelvoss ETP could become THE pricing mechanism for BTC on: July 16, 2013, 12:17:18 AM
I guess when you have Winklevoss money you can pay a PR firm to come here with some sock puppet accounts and try to promote this bullshit.

Seriously, I hear that you're opposed to it, but as I already posted in the other thread where you described the very idea as "stupid" and negating the whole point of owning Bitcoins in the first place, wouldn't you consider it possible -- likely, even -- that different people might want exposure to Bitcoins for different reasons than yourself?


Yeah, you act like it would be hard for them to buy bitcoins. If they want to buy them, they can just PM me.

I wouldn't recommend posting your pic btw, you look like an asshole.

Yea, go pm some guy on the forums... that's how real business gets done Roll Eyes

I wouldn't recommend opening your mouth btw, you sound like an asshole.

I AM an asshole. I'm also right. You're an asshole too - there;s nothing wrong with buying bitcoins from me. You think buying "shares" of bitcoins from some inbred douches is more legit than getting the actual thing from me? You're an idiot to boot.

And if they don't want to buy them from me, they can post a [WTB] ad on here and there will be a bunch of members with trading reputations waiting to sell to them. Or they can buy on OTC. Or on localbitcoins. ETc, Etc....



Roll Eyes

Go find someone to give you a hug.  Life is much more pleasant when you let go of your anger.
2111  Economy / Speculation / Re: A Much More Fun Downtrend on: July 16, 2013, 12:15:41 AM
Absence of evidence is not evidence of absence.
Agreed. But since no one have seen yeti, we shouldn't assume he exists.

Agreed, and when MtGox themselves says that it will take 2 weeks just to catch up on the queue before they can process new withdrawals we shouldn't assume no withdrawals are being sent out just because people have waited 3 days on their new requests.
2112  Economy / Service Discussion / Re: 0.25 BTC Bounty - Show me a Mt Gox USD Withdrawal :) on: July 16, 2013, 12:02:11 AM


They did:
https://mtgox.com/press_release_20130620.html
https://mtgox.com/press_release_20130704.html

Specifically:
Quote
Over the past weeks Mt. Gox has experienced rising volumes of deposits and withdrawals from established and upcoming markets interested in Bitcoin. This increased volume has made it difficult for our bank to process the transactions smoothly and within a timely manner, which has created unnecessary delays for our global customers. This is especially so for those in the United States who are requesting wire transfer withdrawals from their accounts.

and:
Quote
Mt. Gox has now formed relationships with several new banking partners both in Japan and around the world, and we are still in the process of finalizing even more. This means that we will have increased stability and ability to transmit withdrawals going forward.


But why would people look for information on mtgox.com's front page when it is easier to spread rumors on this forum?

Not exactly. Neither of your quotes above state that MtGox is unable to fulfill withdrawal requests. If fact, the very first sentence of the most recent (7/4/13) press release states, "Mt. Gox is happy to announce that global account withdrawals have now fully resumed as of today, after several days of testing our new system for processing transactions. We want to keep you informed about our progress in this arena, and especially assure our customers that their funds are accessible."

Are you saying that this is the case, and that everything's fine and it's just random chance that nobody has been able to confirm a single withdrawal in the (nearly) two weeks since they released this statement?

It's one thing to say "withdrawals are slow but we're establishing new relationships to speed things up".

Entirely another to say "we're still not quite able to send withdrawals but we're taking the following steps, and will be ready shortly".

Lastly, who was your statement about "spreading rumors" referring to?


They are sending withdraws, they are just backlogged.  They are able to fulfill withdrawal requests, it will just take time.  This is from further down in the same release:
Quote
The new system is just now getting under way, so there is still a back-log of withdrawals that we need to process. Our team is working hard to increase transaction speeds, but there is approximately a two-week back-log we need to overcome. It will take a few weeks to get back to normal, and we thank you for your patience during this time.

As for my "spreading rumors" statement, it is about 3/4 of the members of this forum who repeat things echo-chamber style and never look into the facts behind what they are repeating.  Don't take it personally.
2113  Economy / Speculation / Re: Liquidity problem on: July 15, 2013, 11:53:42 PM

Still, there is a lot going on in the bitcoin economy besides fiat exchange, and if someone is bothered by the dreamers maybe they should quit hanging out in the forum dedicated to dreaming about the future.

Are you kidding? There is plenty of information on this forum about development of very interesting technologies. We are now in speculation subforum, that is why all  talking is about silly dreams. Smiley


That's my point.  Speculation is dedicated to dreaming, so why come here and complain about dreamers?

I don't come to speculation subforum. I watch the "recent posts" page, and see a lot of speculation threads there, which seem funny to me. Sorry for making you read my complains. I'll try to ignore such topics next time.


Thank you.
2114  Economy / Speculation / Re: A Much More Fun Downtrend on: July 15, 2013, 11:52:53 PM

This is not surprising, given that USD withdrawals are not permitted at this time. Who would deposit or bid up MtGox USD in the current environment?

wondering: Where you ve got this absolute false information from?
No, it's true. There's been a 0.5BTC bounty for a recent USD withdrawal from gox. Nobody has claimed it yet Cheesy
https://bitcointalk.org/index.php?topic=251895.0;all

Absence of evidence is not evidence of absence.
2115  Economy / Economics / Re: Winkelvoss ETP could become THE pricing mechanism for BTC on: July 15, 2013, 11:52:01 PM
I guess when you have Winklevoss money you can pay a PR firm to come here with some sock puppet accounts and try to promote this bullshit.

Seriously, I hear that you're opposed to it, but as I already posted in the other thread where you described the very idea as "stupid" and negating the whole point of owning Bitcoins in the first place, wouldn't you consider it possible -- likely, even -- that different people might want exposure to Bitcoins for different reasons than yourself?


Yeah, you act like it would be hard for them to buy bitcoins. If they want to buy them, they can just PM me.

I wouldn't recommend posting your pic btw, you look like an asshole.

Yea, go pm some guy on the forums... that's how real business gets done Roll Eyes

I wouldn't recommend opening your mouth btw, you sound like an asshole.
2116  Economy / Speculation / Re: Wall Observer - MtGoxUSD wall movement tracker - Hardcore on: July 15, 2013, 11:16:49 PM
Let's be friends. PM me or something.

You're not as important as you think.  You are just another noisemaker.... just what these forums need Roll Eyes
2117  Economy / Speculation / Re: Liquidity problem on: July 15, 2013, 11:09:31 PM

Still, there is a lot going on in the bitcoin economy besides fiat exchange, and if someone is bothered by the dreamers maybe they should quit hanging out in the forum dedicated to dreaming about the future.

Are you kidding? There is plenty of information on this forum about development of very interesting technologies. We are now in speculation subforum, that is why all  talking is about silly dreams. Smiley


That's my point.  Speculation is dedicated to dreaming, so why come here and complain about dreamers?
2118  Economy / Speculation / Re: Wall Observer - MtGoxUSD wall movement tracker - Hardcore on: July 15, 2013, 11:03:17 PM

Then I can't help you.
2119  Economy / Service Discussion / Re: 0.25 BTC Bounty - Show me a Mt Gox USD Withdrawal :) on: July 15, 2013, 10:59:42 PM

There is a big difference between the technical requirements of sending funds and the regulatory requirements of sending funds.  Yes the first part is easy, but it is not the hard part.


I agree.

Do you think the KYC measures are what's causing the delay? I'd have guessed that those are mostly front-end requirements (I know when I opened my account I had to submit passport and other verification docs).

Or could it be the record-keeping requirements? My opinion is that record-keeping is electronic and automatic, so probably not the problem.

What about AML reporting requirements? You could argue that it takes time to "establish and implement policies and procedures that can be reasonably expected to detect and cause the reporting of suspicious transactions". But on the flip side, this is a road that many have already traveled down, and a playbook for MSB's is readily available. Here's an example:

http://www.fincen.gov/financial_institutions/msb/materials/en/prevention_guide.html


I'm curious to know your opinion as to which parts of the regulatory requirements would cause such an extraordinary delay?

They just switched banks because their old bank was not comfortable with the levels of traffic.  Banks move slowly, especially when dealing with companies that have had regulatory actions against them (USG seized MtGox's Dwolla linked account).  The new bank will not allow them to ramp up their volume until they are absolutely sure all the t's are crossed and all the i's are dotted.

Yes, that does make sense. I'm left wondering why they wouldn't just state that instead of saying they have a backlog and are working to clear it. Anecdotally, it doesn't appear that they are working the queue at all. Has anyone seen a single confirmed withdrawal? Even from outside the bitcointalk.org community?

Time will tell I suppose.

They did:
https://mtgox.com/press_release_20130620.html
https://mtgox.com/press_release_20130704.html

Specifically:
Quote
Over the past weeks Mt. Gox has experienced rising volumes of deposits and withdrawals from established and upcoming markets interested in Bitcoin. This increased volume has made it difficult for our bank to process the transactions smoothly and within a timely manner, which has created unnecessary delays for our global customers. This is especially so for those in the United States who are requesting wire transfer withdrawals from their accounts.

and:
Quote
Mt. Gox has now formed relationships with several new banking partners both in Japan and around the world, and we are still in the process of finalizing even more. This means that we will have increased stability and ability to transmit withdrawals going forward.


But why would people look for information on mtgox.com's front page when it is easier to spread rumors on this forum?
2120  Economy / Speculation / Re: Wall Observer - MtGoxUSD wall movement tracker - Hardcore on: July 15, 2013, 10:56:24 PM
For me too, thanks.

Please explain. Truth hurts or what? I am puzzled  Smiley

I think he's asking for drugs.

Care to explain?

It looks pretty self explanatory to me:

LOL, you should pass some of that shit you are smoking Cheesy Cheesy Cheesy

+420

For me too, thanks.
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