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Author Topic: Mt. Gox approval queue - (updated with current numbers)  (Read 29046 times)
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April 08, 2013, 02:33:45 AM
 #1

Updated 2013-04-29

Edit: Please also provide the time in UTC if you're updating us - thanks.

Edit2: Usernames added as additional information.

I've read in a few places that the approval queue for Mt. Gox is in the thousands.

Does anyone have a source for this information or is it just unfounded speculation?

  • 2013-04-29 08:00 13,760 ghdp
  • 2013-04-28 21:17 14,420 seleme
  • 2013-04-26 14:00 16,720 ghdp
  • 2013-04-20 13:53 13,940
  • 2013-04-13 25,300
  • 2013-04-08 14,500


I should mention that the latest value only represents the MINIMUM number of applications awaiting approval. It doesn't give the current MAXIMUM.

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April 08, 2013, 02:35:20 AM
 #2

A few days ago I submitted my documents and I was #13000.  Now I am about #10000.

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April 08, 2013, 02:39:07 AM
 #3

Is this your queue number?  Shocked

You've got to wait for 10K validations infront of you before you can use your account?

If this post was useful, interesting or entertaining, then you've misunderstood. 1N6rmaDiPf8ke3mx8217NykAMDZXkX713x
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April 08, 2013, 03:05:09 AM
 #4

A few days ago I submitted my documents and I was #13000.  Now I am about #10000.

geezuz, holy muther of ____
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April 08, 2013, 03:43:57 AM
 #5

Is this your queue number?  Shocked

You've got to wait for 10K validations infront of you before you can use your account?

Yes
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April 08, 2013, 04:13:28 AM
 #6

I just helped someone setup their account about 12 hours ago and I think it said they were 15,000+ on the queue.  Right now they're at 14840:

http://i.imgur.com/UeaqkgG.png
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April 08, 2013, 08:10:29 AM
 #7

I just helped someone setup their account about 12 hours ago and I think it said they were 15,000+ on the queue.  Right now they're at 14840:



I submitted for verification approx an hour ago and I was number 15k-something, so there still seems to be an influx of new users...
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April 08, 2013, 09:20:22 AM
 #8

Can't you still deposit and trade with an unverified account on gox?
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April 08, 2013, 10:15:50 AM
 #9

Holy hell! Have fun Mt Gox xD
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April 08, 2013, 10:21:23 AM
 #10

This is getting insane.

Gox cant keep up with the inflow of new accounts.

Mark, time to hire more employees!


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April 08, 2013, 10:23:07 AM
 #11

My account randomly got flagged just a few days ago for no apparent reason, so now I've got to wait to be verified before I can withdraw any bitcoins or do anything except trade. Fun. Anyway, when I first got into the queue my number was precisely 14500, as I recall, though I don't have a screenshot.

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April 08, 2013, 02:43:02 PM
 #12

I guess this means it's likely that the price is going to continue to rise although some will be:

1) signing up and abandoning the account
2) opening an account to sell their bitcoins
3) waiting for the price to drop before buying

so don't expect every new account to be buying.

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April 08, 2013, 09:34:48 PM
 #13

Was 14100 this morning, 13460 this evening.
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April 08, 2013, 10:22:31 PM
 #14

Can one of you guys shed some light on what's required for a validation?

I'm just curious what takes so long if they have a team of people working on this. Again I seem to remember reading something like a team of 20ish people validating accounts.

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April 08, 2013, 11:19:15 PM
 #15

Can one of you guys shed some light on what's required for a validation?

I'm just curious what takes so long if they have a team of people working on this. Again I seem to remember reading something like a team of 20ish people validating accounts.

https://support.mtgox.com/entries/20919111-aml-account-statuses
Requirements:
A  valid copy of a government issued photo ID and proof of residence (less than 3 months old) - E.g. A utility or phone bill.

It's probably faster just to mail your scans in, get there in 3days or so. I paid these guys http://www.idocscanada.ca/ to apostille my passport and utility shit for $100, plus priority mail fee $40 and now have 'trusted' limits.

You could also just wait for CoinLab to start up whenever that happens. May be faster

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April 08, 2013, 11:29:03 PM
 #16

My account randomly got flagged just a few days ago for no apparent reason, so now I've got to wait to be verified before I can withdraw any bitcoins or do anything except trade. Fun. Anyway, when I first got into the queue my number was precisely 14500, as I recall, though I don't have a screenshot.

Sounds like MtGox was in fact running fractional reserve, their safety margins are running out and so they're using this new technique to limit outflows.

Pretty bad in a Stock Generation sort of way.

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April 09, 2013, 01:12:10 AM
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Sounds like MtGox was in fact running fractional reserve, their safety margins are running out and so they're using this new technique to limit outflows.

Pretty bad in a Stock Generation sort of way.

They don't have the Bitcoin or the fiat?

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April 09, 2013, 11:37:21 AM
 #18

They don't have the Bitcoin or the fiat?

I don't think that distinction is necessarily useful. On uptrends they probably don't have the bitcoin, on downtrends the fiat. For safety probably a mix of both. Bitcoinica did the exact same thing after all.

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April 09, 2013, 03:07:04 PM
 #19

I wasn't around during the Bitcoinica fiasco so don't really know the details of how they operated their liquidity. I only know that they were hacked and lost a great deal of Bitcoin.

Just curious as to why liquidity needs to come from Mt.Gox and not from the market?

Isn't it the act of buying/selling from users the source of liquidity?

Mt.Gox isn't a market maker is it?

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April 09, 2013, 03:41:06 PM
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Sounds like MtGox was in fact running fractional reserve, their safety margins are running out and so they're using this new technique to limit outflows.

Pretty bad in a Stock Generation sort of way.

They don't have the Bitcoin or the fiat?

MPOE-PR appears to be doing something known as "unfounded accusations and trolling". I advise you disregard them, their Ignore button is gold for a reason.

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