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Author Topic: mtgox back in business!  (Read 2865 times)
mtgox
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November 08, 2010, 08:07:58 PM
 #1

Finally got some LR in my account.
Sorry it took so long.

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Bimmerhead
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November 08, 2010, 08:11:45 PM
 #2

Finally got some LR in my account.
Sorry it took so long.


When I try to withdraw it says this:

Quote
To comply with US regulations you are only allowed to withdraw a maximum of $1000 within a 24 hour period. Please try your withdraw tomorrow.

Even though I'm withdrawing much less than $1000.

Auroracoin forum: http://auroraspjall.is/   Auroracoin-enabled Q&A: https://spurt.is/
AuroracoinLocal: https://www.skiptum.is/   Auroracoin twitter tipping: http://auroratip.auroracoin.io/#/
sturle
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November 08, 2010, 08:17:46 PM
 #3

Something else is new:
Quote
Mt Gox charges a small fee (0.65%) for each trade.

Sjå http://bitmynt.no for veksling av bitcoin mot norske kroner.  Trygt, billig, raskt og enkelt sidan 2010.
I buy with EUR and other currencies at a fair market price when you want to sell.  See http://bitmynt.no/eurprice.pl
I support the roadmap.  If a majority of miners ever try to forcefully take control of Bitcoin through a hard fork without 100% consensus, I will immediately split out and dump all my forkcoins, and buy more real Bitcoin.
Bimmerhead
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November 08, 2010, 08:22:09 PM
 #4

Finally got some LR in my account.
Sorry it took so long.


When I try to withdraw it says this:

Quote
To comply with US regulations you are only allowed to withdraw a maximum of $1000 within a 24 hour period. Please try your withdraw tomorrow.

Even though I'm withdrawing much less than $1000.

Nevermind, it's working now.

I don't blame him for taking a fee.  It's well worth it.

Auroracoin forum: http://auroraspjall.is/   Auroracoin-enabled Q&A: https://spurt.is/
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mtgox
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November 08, 2010, 08:23:01 PM
 #5

sturle: I covered almost $5000 in paypal fraud I have to make it back somehow sorry.

grondilu
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November 08, 2010, 08:24:39 PM
 #6

How do you get the bitcoins you're selling ?  Do you really have enough sellers ?
mtgox
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November 08, 2010, 08:28:49 PM
 #7

grondilu: I'm not selling any bitcoins. All transactions are between the users. mtgox is just an exchange.

grondilu
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November 08, 2010, 08:30:28 PM
 #8

grondilu: I'm not selling any bitcoins. All transactions are between the users. mtgox is just an exchange.

Oh, ok.  Although I don't understand the one month delay I heard of, then.
jgarzik
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November 08, 2010, 08:33:13 PM
 #9

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Mt Gox charges a small fee (0.65%) for each trade.

Yay!  Good stuff.  Exchanges need to be self-sustaining.

Jeff Garzik, bitcoin core dev team and BitPay engineer; opinions are my own, not my employer.
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sturle
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November 08, 2010, 09:33:29 PM
 #10

sturle: I covered almost $5000 in paypal fraud I have to make it back somehow sorry.
Did it grow after you stopped withdrawals?

I can repo their BTC so it isn't really a big deal. Just a hassle. In fact I'll make money if the price stays this high.
The price has certainly stayed high.  Of course you have to make a shilling to keep the site up and working, but I think a fee per trade will harm trading.  I have done a lot of trades with less than 0.65% margin.  The spread has often been less than 0.65%. This change will make a lot of those small trades, like buying the cheapest offer and making a new cheapest offer at a slightly higher price, unprofitable or too risky.

What other solutions have you considered?

Sjå http://bitmynt.no for veksling av bitcoin mot norske kroner.  Trygt, billig, raskt og enkelt sidan 2010.
I buy with EUR and other currencies at a fair market price when you want to sell.  See http://bitmynt.no/eurprice.pl
I support the roadmap.  If a majority of miners ever try to forcefully take control of Bitcoin through a hard fork without 100% consensus, I will immediately split out and dump all my forkcoins, and buy more real Bitcoin.
ShadowOfHarbringer
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November 08, 2010, 10:06:11 PM
 #11

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Mt Gox charges a small fee (0.65%) for each trade.

Yay!  Good stuff.  Exchanges need to be self-sustaining.

And the crazy speculation is already over !
I guess the fee must have helped.

--
@mtgox: are You planning to remove the fee after You get back the cash from paypal fraud ?
Is mtgox.com going to be free later, or is it staying paid forever ?

Or perhaps are You going to decrease the fee ?

Macho
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November 08, 2010, 10:10:33 PM
 #12

The price has certainly stayed high.  Of course you have to make a shilling to keep the site up and working, but I think a fee per trade will harm trading.  I have done a lot of trades with less than 0.65% margin.  The spread has often been less than 0.65%. This change will make a lot of those small trades, like buying the cheapest offer and making a new cheapest offer at a slightly higher price, unprofitable or too risky.

You are saying that as if that would be a bad thing. Speculation is bad use of bitcoin (or any other currency), screw all the speculators! Wink Make real services instead!
jgarzik
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November 08, 2010, 11:25:30 PM
 #13


I would prefer something like what is offered in stock trading:  fixed fee commissions, regardless of number of shares traded.

For mtgox, an example of such pricing could be 1 BTC/trade or $0.25/trade.

Jeff Garzik, bitcoin core dev team and BitPay engineer; opinions are my own, not my employer.
Donations / tip jar: 1BrufViLKnSWtuWGkryPsKsxonV2NQ7Tcj
kiba
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November 09, 2010, 12:19:38 AM
 #14

So it charges .65. This complicate my trading effort as I have to do further calculation for profit.  Undecided

kiba
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November 09, 2010, 12:22:02 AM
 #15

You are saying that as if that would be a bad thing. Speculation is bad use of bitcoin (or any other currency), screw all the speculators! Wink Make real services instead!

Have you reconsider the arguments for speculation?

mtgox
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November 09, 2010, 12:38:43 AM
 #16

jgarzik: I might do some sort of flat fee all you can trade for a month type thing.

BioMike
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November 09, 2010, 06:00:44 AM
 #17

jgarzik: I might do some sort of flat fee all you can trade for a month type thing.

You could even put in a option to have monthly paying people not having the banner displayed.
The current banner is not that annoying, but when "hit the monkey"-type of banners show up. Wink
kiba
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November 09, 2010, 06:11:36 AM
 #18

Feature request if not already implemented: Add in the cost of doing a trade so people can figure out the profit margin.

sturle
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November 09, 2010, 06:22:31 AM
 #19

Feature request if not already implemented: Add in the cost of doing a trade so people can figure out the profit margin.
+1.  I find it weird to only receive 99.35 BTC when buying 100.  This should be clear when I enter the order.

Sjå http://bitmynt.no for veksling av bitcoin mot norske kroner.  Trygt, billig, raskt og enkelt sidan 2010.
I buy with EUR and other currencies at a fair market price when you want to sell.  See http://bitmynt.no/eurprice.pl
I support the roadmap.  If a majority of miners ever try to forcefully take control of Bitcoin through a hard fork without 100% consensus, I will immediately split out and dump all my forkcoins, and buy more real Bitcoin.
ShadowOfHarbringer
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November 09, 2010, 06:27:19 AM
 #20

mtgox:

So what about fees ? Are ya going to decrease them once you get back stolen paypal fraud money ?

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