Have some patience m8, and next time think before publicly accusing any business like that with such a weak basis for accusations.
I am another who has withdrawn funds from Mt. Gox and they (several hundred USD) seem to have gone into the ether. I have made several transactions with them, some in, some out, to different accounts and account types and have never had an issue until now. Here is what is odd.
06/04/11 16:50 - Posted
06/05/11 16:07 - Not Posted
06/07/11 02:19 - Posted <== This one only took perhaps 8 hours to show up.
I believe these times are UTC, since the last one was sent Sunday evening CDT and I received the email that funds were available the next day mid-morning. The strange part is that the first and third went through quickly and the second has disappeared. The second was the largest of the three as well;
however, it isn't the largest I have ever transferred
it is the largest I have ever transferred. They also have ignored my emails. It has been more than three days since I had them process the withdrawal, which is the maximum they expect according to the message of 1-3 days [usually less than one day for me and one time two days until the red transaction above]. What is strange is that a later withdrawal would post when the earlier has not.
I don't think they/he/it bothers to even check email or followup to make sure transactions are processing correctly [i.e. did the funds even leave the bank account of Mt. Gox or the accounts they use to transfer to various other sources like Liberty Reserve and Dwolla]. That is poor business. There should be a phone number [at the very least] and a protocol available publicly to deal with issues and in fact, I am reasonably sure they are legally bound to do some of these things. They are acting like a financial service and a commodities exchange [they exchange the bitcoin commodity for real money and work with banks and other financial services that are clearly required to follow similar guidelines themselves], and if they behave this way for long [meaning not communicating with customers and not verifying payments], the attention will be given to them by government agencies that will eventually be hearing the complaints and I am sure they will be shut down. If they continue to process trades accurately, move funds properly, communicate about financial transactions [almost certainly a legal issue in most Western nations], then I don't think they will have trouble. They clearly have transfer limits, although I believe this is largely based on the bank they use as opposed to them following the law in the country or countries that they are doing business in.
I will give them another day or two and then contact the place where my funds should have arrived and see if they misplaced it, but I HIGHLY doubt that [I am very careful ... never type account numbers or bitcoin addresses and copy and paste is always from a plain text source ... i.e. copy account number off of website and paste in a text file ... copy from text file into Mt. Gox forms and of course I double and triple check everything before hitting the button]. If the funds are still unaccounted for by the 7 day period [which would basically be Sunday evening here], then the following day, I will work on other means to get recourse (starting with trying to find alternative forms of communication to them, via many items on public record, and work from there); even if that means that unwanted attention is drawn to them that gets them shut down temporarily or for good [I am reasonably sure they are not in compliance with several laws where they are doing business].
For me, I am covered. Transactions all show in my bank accounts, I have receipts or statements to show the purchases I have made for this, electricity costs are easily computed. I will declare my hobby income to the IRS on my taxes if I am still net positive at the end of the year [I may expand the hobby with the hobby revenue earned or I may not]. Hobby income is what it sounds like, but essentially (as I understand it, I am not an accountant), if you don't earn as much back as you put into your hobby, you can't write off the loss [as a business might], but revenue exceeding costs [gross profit I suppose] is hobby income. I am not sure of all the tax issues as to limits on hobby income or other issues, but an accountant or even tax software should handle it fine.