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Author Topic: MTgox------>Dwolla issues?  (Read 1736 times)
Jdumond
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June 08, 2011, 10:10:05 PM
 #1

Folks-

Just wanted to get a pulse for some of the other traders online here.

Me and my buddy have made withdrawals from MTgox USD to dwolla.
Neither of us have seen our money show up in the dwolla account.

He has been waiting 5 days.
I have been waiting 3.


My inital transfers (of a much lower amount) showed up within 24 hours.

I am nervous that the website bit off more than it can chew and now, my money is gone and I have no recourse.

I have sent email... no response


anyone else having similar issues?

I dont like the guy. How many reasons do I have? alot.
How many reasons do I need? none.
I just dont like the guy.

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zhalox
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June 08, 2011, 10:12:41 PM
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I'm still waiting for my money to get out of there too.  Also, I was promised a $1000 daily limit and for some reason today it limited me to $300ish...

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tito13kfm
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June 08, 2011, 10:23:25 PM
 #3

Dwolla recently changed completely changed the way funds are transferred in to it with the introduction of their Grid API.  Many transactions are backlogged.  It's not just you, everybody can not currently get funds from Mt Gox to Dwolla.  I wouldn't sweat it to much.  If you have money in bitcoins you can't afford to lose you are doing it wrong, but I expect this issue to be cleared up in a few days.

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June 08, 2011, 11:46:52 PM
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I am very much relieved.

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Jdumond
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June 08, 2011, 11:52:57 PM
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Dwolla recently changed completely changed the way funds are transferred in to it with the introduction of their Grid API.  Many transactions are backlogged.  It's not just you, everybody can not currently get funds from Mt Gox to Dwolla.  I wouldn't sweat it to much.  If you have money in bitcoins you can't afford to lose you are doing it wrong, but I expect this issue to be cleared up in a few days.


Thanks for the reply.

Though your statement about how I am doing it "wrong" is ridiculous. I understand the premise that yes you shouldn't rely on this potential income, but as with anything there are costs, power consumption, hardware ect. am I willing to front these costs while I wait? Yes, but should I have to? No.

I dont like the guy. How many reasons do I have? alot.
How many reasons do I need? none.
I just dont like the guy.

Donate here: 1Juv5x7PHcNQdRzdUpWK1DHMKwMy7j7zxj
Tradehill: TH-R11447
tito13kfm
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June 09, 2011, 12:15:25 AM
 #6

What I meant was that you should not invest money in a risky venture you are not 100% willing to lose.  I have money in gold, silver, stocks, bonds, and now bitcoins.

The government could come out again tomorrow and declare gold illegal to own.  It's already happened once in US history.  A huge vein could be struck or alchemy could be proven to actually be real.  People could come to their senses and decide that gold is a shiny doodad with no real value and the price drop to almost nothing.

It could also be stolen from me.  I keep some reserves on hand.  You never know when the entire system will collapse, banks are overrun, and the government confiscates my deposit boxes.

I was just trying to explain that money invested should not be money you depend on for day to day living.  MagicalTux is making too much money off transaction fees to simply steal your money.  I'm sorry to say it, but we are small fish.  If he really wanted to steal he'd wait for some BIG time investors to get involved.

What we are seeing is simply a glitch that can mostly be blamed on Dwolla.  Obviously we are quick to point the finger at the one who last had our money, but all sides of the story need to be examined.

Edit: I do agree with you though.  This sucks royally, and having your money "lost" in a floating transaction is not fun.  But we can't say this is the first time in history money was held up by a third party.  I had my PayPal account frozen with over $8000 USD in it.  I lost access to this money for nearly 3 weeks.  Why?  Because somebody I had received money from for a sale I had made was using a stolen credit card.

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June 09, 2011, 12:23:21 AM
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What I meant was that you should not invest money in a risky venture you are not 100% willing to lose.  I have money in gold, silver, stocks, bonds, and now bitcoins.

The government could come out again tomorrow and declare gold illegal to own.  It's already happened once in US history.  A huge vein could be struck or alchemy could be proven to actually be real.  People could come to their senses and decide that gold is a shiny doodad with no real value and the price drop to almost nothing.

It could also be stolen from me.  I keep some reserves on hand.  You never know when the entire system will collapse, banks are overrun, and the government confiscates my deposit boxes.

I was just trying to explain that money invested should not be money you depend on for day to day living.  MagicalTux is making too much money off transaction fees to simply steal your money.  I'm sorry to say it, but we are small fish.  If he really wanted to steal he'd wait for some BIG time investors to get involved.

What we are seeing is simply a glitch that can mostly be blamed on Dwolla.  Obviously we are quick to point the finger at the one who last had our money, but all sides of the story need to be examined.

Edit: I do agree with you though.  This sucks royally, and having your money "lost" in a floating transaction is not fun.  But we can't say this is the first time in history money was held up by a third party.  I had my PayPal account frozen with over $8000 USD in it.  I lost access to this money for nearly 3 weeks.  Why?  Because somebody I had received money from for a sale I had made was using a stolen credit card.

I agree, and although your scenarios are extreme, this is USA.

"No Bitcoin Left Behind Act"  ?/?

I dont like the guy. How many reasons do I have? alot.
How many reasons do I need? none.
I just dont like the guy.

Donate here: 1Juv5x7PHcNQdRzdUpWK1DHMKwMy7j7zxj
Tradehill: TH-R11447
Mike Moceri
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June 09, 2011, 03:16:59 AM
 #8

Been waiting 4 days myself now. I'm not mad that they're having issues with Dwolla. That I understand. I'm PISSED that Mt. Gox has no reliable way of contacting them. I mean, really! They have to be making a fortune on all those transaction fees! Why the hell can't they hire a few people to answer phones?
Mike Moceri
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June 11, 2011, 03:29:14 PM
 #9

Got my money yesterday, just wanted to update. Probably goung to switch over to TradeHill since they do direct bank wires for free.
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