Wall Observer BTC/USD - Bitcoin price movement tracking & discussion

[gog1]

New Gox announcement:

https://www.mtgox.com/press_release_20130805.html

Still issues with withdrawls

Yes. Lots of good news, but significant gaps, like no mention of how the FinCen MSB registration process is going, or why accounts with several banks are not up and running. Do all their banks have the same trick of hanging onto deposits for 7-10 days??

did not mention anything with withdraw at all!!!

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[ChartBuddy]

[Its About Sharing]

New Gox announcement:

https://www.mtgox.com/press_release_20130805.html

Still issues with withdrawls

Yes. Lots of good news, but significant gaps, like no mention of how the FinCen MSB registration process is going, or why accounts with several banks are not up and running. Do all their banks have the same trick of hanging onto deposits for 7-10 days??

did not mention anything with withdraw at all!!!

Wow, this is new. Interesting bank... (Good news with Akamai though...) - read rest of release.

Deposits and Withdrawal Update Finally, the issues with deposits and withdrawals from Mt. Gox are being relieved, but still not at the rate we want. For example it currently takes up to 10 days to process a deposit because our bank, upon receiving deposits, notifies us of the deposit but holds them for 7~10 days before transferring them to our account. This has always been the case, and we were still crediting customer accounts before receiving the funds ourselves, but some cases in which the bank subsequently rejected the deposits meant that we incurred significant losses. The risk is now too high for us to credit accounts prematurely. We are in the process of forming relationships with new partners, banks, and taking other steps -- hopefully we will not only be back where we were before we encountered these issues , but much further ahead.

[ChartBuddy]

[RationalSpeculator]

mtgox selling a worsening of deposits as 'a relief'. lol

Glad I'm out of there.

[ChartBuddy]

[ChartBuddy]

[samson]

New Gox announcement:

https://www.mtgox.com/press_release_20130805.html

Still issues with withdrawls

Yes. Lots of good news, but significant gaps, like no mention of how the FinCen MSB registration process is going, or why accounts with several banks are not up and running. Do all their banks have the same trick of hanging onto deposits for 7-10 days??

A wire transfer can be 'recalled' and reversed under certain circumstances. I tried looking for information on this subject but it's hard to find. I know they can definitely be reversed.

I suspect this 7 day waiting period is a condition of doing business and processing wires for MtGox.

As they say in the press release they have been burned in the past and it's probably down to people sending wires to MtGox from hacked online bank accounts. The sending bank will need to refund the customer and they will do anything they can to 'recall' the wire.

Mitigating fraud is a good thing.

Edit : I found this link on the subject of wire recalls : http://wellsfargobankfinalfailure.blogspot.com/2008/07/bankings-final-failure-recall-of-wire.html

Wires used to be a 100% guaranteed payment, it seems that since a few years ago this is not the case and it's up to the banks.

[ChartBuddy]

[ChartBuddy]

[ChartBuddy]

[ChartBuddy]

[capsqrl]

Do you realize we've been in triple digits for one week now? 18K BTC down to 100, and we just hit 3-day highs. The Gox trading engine is lagging, which is usually a bullish signal. S3052 tweeted "Bitcoin trading to become more violent in the next few months." Interesting times ahead.

[ChartBuddy]

[phatsphere]

2k coins to 108, and 7k to 110. the last major peak was 111.66.

[lucas.sev]

Do you realize we've been in triple digits for one week now? 18K BTC down to 100, and we just hit 3-day highs. The Gox trading engine is lagging, which is usually a bullish signal. S3052 tweeted "Bitcoin trading to become more violent in the next few months." Interesting times ahead.

Violent could just as well mean crushed hopes of a 115-130 rally.

[oda.krell]

Do you realize we've been in triple digits for one week now? 18K BTC down to 100, and we just hit 3-day highs. The Gox trading engine is lagging, which is usually a bullish signal. S3052 tweeted "Bitcoin trading to become more violent in the next few months." Interesting times ahead.

That part would make me extremely suspicious. ("The great and wise benevolent leader blogger has concluded that price now must go up uP UP.") Nevermind, confused him with 796. Apologies to S3052.

[lucas.sev]

Do you realize we've been in triple digits for one week now? 18K BTC down to 100, and we just hit 3-day highs. The Gox trading engine is lagging, which is usually a bullish signal. S3052 tweeted "Bitcoin trading to become more violent in the next few months." Interesting times ahead.

That part would make me extremely suspicious. ("The great and wise benevolent leader blogger has concluded that price now must go up uP UP.")

Suspicious of what?

[oda.krell]

Do you realize we've been in triple digits for one week now? 18K BTC down to 100, and we just hit 3-day highs. The Gox trading engine is lagging, which is usually a bullish signal. S3052 tweeted "Bitcoin trading to become more violent in the next few months." Interesting times ahead.

That part would make me extremely suspicious. ("The great and wise benevolent leader blogger has concluded that price now must go up uP UP.")

Suspicious of what?

That we're about to go down. But I had mistaken him for another guy, ignore.

[ChartBuddy]