MtGox - sigh... even more crap coming our way now

[coga]

So, now they won't let you request DWOLLA withdrawal until they process your previous withdrawal. All would be good, if they were like Intersango, and sent transfer instantly. Except they traditionally take weeks to process withdrawals. So, when they finally take their sweet time "processing" withdrawal, you already have so much cash piled up, that you cannot withdraw it, because you are over the daily limit. I'm not even mentioning all the red flags such a big withdrawal would raise with our banking friends.

I'm getting so tired of perpetual problems with Gox... I cannot recall when was last time I did NOT have problems with them

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[AmDD]

Great. Im also pretty sick of dealing with them, I guess its time to start looking elsewhere...

[MoonShadow]

Start offering bitcoins for cash in your city, for example, on Craigslist.  I've been trying to buy bitcoins for some time now, as I'm running out.  But I've never bought them on an exchange, wouldn't know how to do it, and don't care to involve myself in the whole international banking regulation thing.  If you live in my city, I'd be willing to pay cash for them in person if the exchange rate was reasonable.

[nobbynobbynoob]

Luckily I've not tried to cash out from Mt Gox yet since I'm not one for selling BTC (except occasionally for speculative purposes, i.e. short selling). But you know there's a danger of the process being more sluggardly than molasses in the Yukon on an exceptionally cold January morning when dealing with fiat transfers, with all the AML-type annoying bureaucracy involved.

[SgtSpike]

I actually did a transfer from MtGox to Dwolla recently... it was very quick.  An hour after the request, my Dwolla account had money in it.  And my bank account the next day.

[nobbynobbynoob]

I actually did a transfer from MtGox to Dwolla recently... it was very quick.  An hour after the request, my Dwolla account had money in it.  And my bank account the next day.

Good to hear this; good to know it's not always that bad.

[thebaron]

My experience that if you keep it in small amounts, they transfer quickly.

[MPOE-PR]

Luckily I've not tried to cash out from Mt Gox yet since I'm not one for selling BTC (except occasionally for speculative purposes, i.e. short selling).

Selling something you own is never short selling.

[nobbynobbynoob]

Luckily I've not tried to cash out from Mt Gox yet since I'm not one for selling BTC (except occasionally for speculative purposes, i.e. short selling).

Selling something you own is never short selling.

Good point, short selling involves borrowing extra money. *self-faceslap*

[MagicalTux]

So, now they won't let you request DWOLLA withdrawal until they process your previous withdrawal. All would be good, if they were like Intersango, and sent transfer instantly. Except they traditionally take weeks to process withdrawals. So, when they finally take their sweet time "processing" withdrawal, you already have so much cash piled up, that you cannot withdraw it, because you are over the daily limit. I'm not even mentioning all the red flags such a big withdrawal would raise with our banking friends.

I'm getting so tired of perpetual problems with Gox... I cannot recall when was last time I did NOT have problems with them

It takes time because people misunderstand Dwolla and think they can transfer dozens of thousands of dollars that way. Dwolla itself is not made for such large transfers, and the best way we found to block abusers without impacting normal people is to limit the number of pending transfers.

If you transfer large amounts of money, you should use international transfers, not Dwolla.

[mc_lovin]

or just buy bitcoins with your Mt. Gox USD and withdrawal the BTC! 

[coga]

It takes time because people misunderstand Dwolla and think they can transfer dozens of thousands of dollars that way. Dwolla itself is not made for such large transfers, and the best way we found to block abusers without impacting normal people is to limit the number of pending transfers.

If you transfer large amounts of money, you should use international transfers, not Dwolla.

MagicalTux, seriously... You really need to be careful calling your customers abusers. We are the reason you are in business, I think management at MtGox might be forgetting about it

[BitPay Business Solutions]

I have been waiting for a $5,000 withdrawal since Tuesday (4 days now) it has been a "todo" status.  This is not a large amount of money and well within the guildelines for Dwolla. 

[thebaron]

I love how hey don't document details like this on their website.

[michaelmclees]

It takes time because people misunderstand Dwolla and think they can transfer dozens of thousands of dollars that way. Dwolla itself is not made for such large transfers, and the best way we found to block abusers without impacting normal people is to limit the number of pending transfers.

If you transfer large amounts of money, you should use international transfers, not Dwolla.

But this begs the question?  Why?

If the Dwolla account has 12,000 dollars in it ... why can it not quickly be transferred to another Dwolla user?

[coga]

It takes time because people misunderstand Dwolla and think they can transfer dozens of thousands of dollars that way. Dwolla itself is not made for such large transfers, and the best way we found to block abusers without impacting normal people is to limit the number of pending transfers.

If you transfer large amounts of money, you should use international transfers, not Dwolla.

But this begs the question?  Why?

If the Dwolla account has 12,000 dollars in it ... why can it not quickly be transferred to another Dwolla user?

This actually begs even another question: lets assume for the sake of the argument that Dwolla is for small transfers, okay, makes sense.

I used to withdraw USD in smaller chunks. Now it's all or nothing, because chances are I won't be able to pull out more money for another week. How does that help?

The truth here is that [most probably] there is a lot more going on behind the scenes, than Tux is telling us. Based on things that happened on my account, people who handle dwolla payments are not the brightest light bulbs. I'm not going to publicize the details, it's sufficient to say that snafus I've seen were monumental. If those snafus were happening on other accounts, they most probably did cost MtGox dearly. Clearly, some people are to be replaced with others, who don't exceed expectations in a screwup department. But blaming customers for your own incompetence? This is very, very disappointing.

[thebaron]

Withdrew just over $100 to Dwolla 8 hours ago and no sign of it. Indefinite wait fun again!

[tarrant_01]

In my experience over the past couple of weeks, withdraws take up to 24 hours to process. Much better than the 7+ days to wait.

[coga]

In my experience over the past couple of weeks, withdraws take up to 24 hours to process. Much better than the 7+ days to wait.

Problem is that now, those of us who do business and depend on withdrawing money every day, are now blocked. In the past I was at least able to queue withdrawals, but now once they have a delay, I cannot even queue withdrawal at all.

The other side is that you cannot withdraw over $5000 per day. So, if there is a delay, not only you could not queue transfers, but also would not be even able to withdraw everything that piled up.

And what's more irritating, is that withdrawals have already been f**ked up, and now instead of fixing the problem, the latest policy compounds the issues even more.

[thebaron]

Been waiting 2 days on my latest. 

[Mt.Gox_Support_Natalie]

Been waiting 2 days on my latest. 

Hello,

My name is Natalie and I am responsible for our support.  May I ask if you have submitted a support ticket so that we could check the status of your withdrawal for you?  If you have, you can let me know your ticket number via a personal message and I will have this followed up. 

[coga]

Been waiting 2 days on my latest. 

Hello,

My name is Natalie and I am responsible for our support.  May I ask if you have submitted a support ticket so that we could check the status of your withdrawal for you?  If you have, you can let me know your ticket number via a personal message and I will have this followed up. 

Natalie, I would imagine everyone here appreciates that MtGox does have a support, and it's occasionally helpful. This is not about support. It's about policies that make it hard to do business with you. I need to sell bitcoins every day, and withdraw USD. If I have to call support every time the issue happens, then my cost of doing business is enormous.

[Mt.Gox_Support_Natalie]

Been waiting 2 days on my latest. 

Hello,

My name is Natalie and I am responsible for our support.  May I ask if you have submitted a support ticket so that we could check the status of your withdrawal for you?  If you have, you can let me know your ticket number via a personal message and I will have this followed up. 

Natalie, I would imagine everyone here appreciates that MtGox does have a support, and it's occasionally helpful. This is not about support. It's about policies that make it hard to do business with you. I need to sell bitcoins every day, and withdraw USD. If I have to call support every time the issue happens, then my cost of doing business is enormous.

Hello Coga,

Thank you for your message.  I am sorry to hear of your issue.  Our management is aware of your message and we would like to ensure that your experience with Mt.Gox will continue without any difficulties.  In the meantime, our support suggests that if you wish to withdraw USD many times a day, you may wish to use other available methods as well as the services of our partners other than Dwolla such as Bitinstant or the AurumXchange.  Should you require any assistance with Mt.Gox services or have any support-related inquiries, please feel free to contact us at the Support Desk.