Unimpressed by MtGOX Slow Funds - 48 Hours and Counting

[Freakin]

I too have experienced the "pain" of slow wiretransfers.

But think of this:

"What if it went the other way?"

Say the price decreased while your money were held up, the you would not complain, would you?

Things like these happens, and it happens to us all. In the long run it all evens out though.

Still, I can feel your frustration.

This will never happen because bitcoin only goes up.

[TraderTimm]

This will never happen because bitcoin only goes up.

It has probably been commented on before here, but I think the rate rise is correlated to the release rate of the coins in the long term. The rates won't consolidate and stabilize until all the coins have been issued. Plenty of upside and downside for everyone, but I'm biased toward the upside.

[cypherdoc]

I too have experienced the "pain" of slow wiretransfers.

But think of this:

"What if it went the other way?"

Say the price decreased while your money were held up, the you would not complain, would you?

Things like these happens, and it happens to us all. In the long run it all evens out though.

Still, I can feel your frustration.

yes, thats the system.  u learn to live with it.  remember its just him alone, MagTux.  just think, all the ppl trying to get in behind will have the same problems.  it won't matter b/c btc is going into the thousands.

[NamelessOne]

UPDATE:

It has now been 48 hours since transferring my money to mtgox. 36 since being told my funds were processed and would be added to me account shortly. I again missed a rally, this time to 17. I am putting thousands into Bitcoin and right now this is like watching money burn. I understand things must be busy, and it is only one guy so I commend him for the effort, but come on.

Anyone else wait 48+ hours?

[error]

You should actually try contacting him.

[Indemnified]

Anyone have a take on how long before btc withdrawn from Mt Gox to Mybitcoin takes? Btc withdrawn to my wallet were almost immediate, but those withdrawn a few minutes earlier to Mybitcoin account haven't shown up yet.

[proudhon]

UPDATE:

It has now been 48 hours since transferring my money to mtgox. 36 since being told my funds were processed and would be added to me account shortly. I again missed a rally, this time to 17. I am putting thousands into Bitcoin and right now this is like watching money burn. I understand things must be busy, and it is only one guy so I commend him for the effort, but come on.

Anyone else wait 48+ hours?

I don't think it took on of my big my transfer 48 hours, but it was longer than 24, and I too missed a rally (this was back before $3).  Unfortunately, right now it's just part of the game.  With more and more people trying to get in, and with larger $$$ amounts, things probably aren't getting any faster over at the gox.  Good luck, and hopefully you look back a few months from now happy you were lucky enough to get in when you did.

[NamelessOne]

You should actually try contacting him.

I have emailed him numerous times. He only replied to me to say my money has been processed and would be up soon. I have sent multiple emails in the last 48 hours since with no further replies. It is highly frustrating.

And yes, I do hope that in a couple months I am happy. But I will have about half the bitcoins (or less) I was planning on buying. At this rate it looks like it will break 20 tonight. If I had been able to put my money it at 11.5 when I sent it to him I would have nearly doubled it by now. Damn... I hope I get in soon and it explodes even more.

[phillipsjk]

There is no way the value of Bitcoins can keep doubling every 2 days. Since I am thinking medium term, I am seriously considering only bidding at the 30 day weighted average price (currently at $7.98 USD).

In in other words, I think we are seeing a bubble that may correct over 70% over a 2 day peroid.
ie: $18.89*0.3=$5.68.

[cuibono]

I Send my money from Norweigian bank more than four days ago and
still waiting for my funds, my bank is super fast it takes a day or two days for SEPA transfers 
it the time bitcoin went from 8,5 $ to 19 $ and back about 17,5 it is now.

are there other good bitcoin exchanges in Europe?

i also think the bitcoin org should start a big one

[Herodes]

I Send my money from Norweigian bank more than four days ago and
still waiting for my funds, my bank is super fast it takes a day or two days for SEPA transfers 
it the time bitcoin went from 8,5 $ to 19 $ and back about 17,5 it is now.

are there other good bitcoin exchanges in Europe?

i also think the bitcoin org should start a big one

Lst week there was a norwegian holliday, could this be a holdup?

[shamooshamoo]

Did your funds eventually show up in your mtgox account, NamelessOne?  How long did the wire transfer end up taking?  Did you ever figure out what caused the delay?

[NamelessOne]

Yes, after 75+ hours. My money was in MtGox hands at 11.5, but the wait pushed me to 19. Knowing I'd be tripled now is still frustrating haha. My wire transfer wasn't with them. It was a Paxum order. I was just waiting on MtGox side of things. I came in right at the end of their use of Paxum which I think contributed somewhat to my wait. The owner was very apologetic and understood my frustration. I figured I would just let this thread die since he was quite understanding and provided what I considered good customer service even if I had to painfully wait.

[shamooshamoo]

OK, good to know for others waiting.  Thanks for the detailed response.