MtGox withdrawal delays [Gathering]

[cedivad]

So, just after the 20% spread peak without any notice and/or reason mtgox/sepa starts to work again.
Seems legit, it certainly isn't any suspicious.

I will wait and see.

[sturle]

stop arguing. Back to topic. Did anybody had a successful withdrawal recently? Be it PLN or USD.

Also, is it true that SEPA transferts are now working? :/

Yes.  Delay for SEPA is up to two weeks, in most cases less than a week.  I also got some information from MtGox today: SEPA withdrawals are sent to the bank very early in the morning.  In practice you can expect it will be sent next business day at best.  Huge SEPA withdrawals (not to worry about unless you have trusted status) get lower priority unless the user inform MtGox in advance.

[BitCoinNutJob]

ok so out of 2 of the guys i spoke with 1 has received multiple SEPAs 3-5 days each time, he is Queeg @ BTC-e

JamesD @ BTC-e has gotten his usually in just over 1 week. 

http://trollboxarchive.com/search.php?search_type=all&search=SEPA

[sturle]

So, just after the 20% spread peak without any notice and/or reason mtgox/sepa starts to work again.
Seems legit, it certainly isn't any suspicious.

SEPA has been working all the time, just slowly, and is now faster than it has been for almost two years.  Domestic JPY withdrawal has been working (next day) all the time.

The number of bitcoins in bids above Bitstamp price on MtGox is about three times the entire order book at Bitstamp, and moving fiat out of one exchange, and then in to another takes time, so the difference will last for a while.  Especially during weekends when moving fiat is impossible.  We can enjoy the spread for as long as the FUD campaign against MtGox last, at least.  People tend to not trust Bitstamp with a lot of fiat ot BTC, since it operates in violation of the law, the owners are unknown to the community and their address is a maildrop in London.  We have seen many exchanges disappear with all assets before.

[CompNsci]

What are the latest dates people have received USD via wire transfer?

I have several confirmed for a few weeks now and assume it will be a while yet.

[joesmoe2012]

I still have USD wire pending since June 17th, and SEPA transfers pending since 8/1 and 8/7

[sturle]

What are the latest dates people have received USD via wire transfer?

Page 50 of this thread iirc..

[ardana123]

Sepa transfers working my ass, still waiting for a transfer of august 1st. Don't bother trying people.

[zeroblock]

What are the latest dates people have received USD via wire transfer?

Page 50 of this thread iirc..

If you contact karpeles directly and ask for an emergency wire. Depending on your personal connection and size of withdraw it might be processed.

[bctjim]

I'm finally out of Gox and feel so free.. I bought coins and transferred it to bitstamp

[joesmoe2012]

What are the latest dates people have received USD via wire transfer?

Page 50 of this thread iirc..

If you contact karpeles directly and ask for an emergency wire. Depending on your personal connection and size of withdraw it might be processed.

Also incurs a 5% fee...this has been discussed multiple times in this thread already.

[sturle]

Sepa transfers working my ass, still waiting for a transfer of august 1st. Don't bother trying people.

Sure it was sent as SEPA?  Have you contacted support and asked why it hasn't come through?

[Fixx]

Who knows how to write a query about fraud at the stock exchange in the Japanese prefecture? Smacks of a large financial scam - the remaining deposits can not be inferred from 06.2013, but you can buy BTC Internal overvalued exchange rate. This contrivance, and for such tricks MtGox time to kill.

[Nagle]

If you contact karpeles directly and ask for an emergency wire. Depending on your personal connection and size of withdraw it might be processed.

Also incurs a 5% fee...this has been discussed multiple times in this thread already.

Yes.  Delay for SEPA is up to two weeks, in most cases less than a week.  I also got some information from MtGox today: SEPA withdrawals are sent to the bank very early in the morning.  In practice you can expect it will be sent next business day at best.  Huge SEPA withdrawals (not to worry about unless you have trusted status) get lower priority unless the user inform MtGox in advance.

That's not "working". That's a debtor in financial trouble.

None of that delay comes from money-laundering regulations or conspiracy theories involving governments. This is plain, ordinary "they don't have enough money" stalling.

Mt. Gox's customers need an audit of Mt. Gox. Where are all those US dollars right now? 

[acoindr]

... None of that delay comes from money-laundering regulations or conspiracy theories involving governments. This is plain, ordinary "they don't have enough money" stalling.

Why do you think Mt.Gox doesn't have enough money? You do realize Mt.Gox was making money on BTC years ago when it was less than $0.50. You don't think they loaded up on BTC which is now worth over $100 (over a 10,000% increase)? I may not know much about their USD, but I'll bet anything they have a ton of BTC worth millions in USD at the very least.

[sturle]

Yes.  Delay for SEPA is up to two weeks, in most cases less than a week.  I also got some information from MtGox today: SEPA withdrawals are sent to the bank very early in the morning.  In practice you can expect it will be sent next business day at best.  Huge SEPA withdrawals (not to worry about unless you have trusted status) get lower priority unless the user inform MtGox in advance.

That's not "working". That's a debtor in financial trouble.

SEPA withdrawals working faster than ever, and next day JPY withdrawals always working is not a sign of financial trouble.  Some high volume days more than 20% of their volume has been from sales in JPY and EUR.  I expect those money leave for arbitrage pretty quickly, and look!  Difference between exchanges went down pretty fast as well!  So far nobody has complained about late domestic withdrawals, except one who got it late because he misspelled his Japanese name.  And how on earth could MtGox have spent tens of millions in half a year, which would be required to get in financial trouble?

None of that delay comes from money-laundering regulations or conspiracy theories involving governments. This is plain, ordinary "they don't have enough money" stalling.

Please elaborate.  In the time leading up to this, the following happened:

• SEPA amount per day limit hit (a very long time ago).  Many Europeans choose international wire instead.
• LR was busted, AurumExchange closed.  Withdrawal to several e-currencies no longer possible.
• OKpay stopped dealing with Bitcoin exchanges.  Another popular withdrawal method gone.
• Dwolla stopped, all US customers now have to use international wire.
• MtGox overloaded their bank with small wire transfers which would normally have gone through one of the methods above.

This was a short summary of the official story, and it looks perfectly plausible to me.  What I have trouble believing is some diffuse story about MtGox somehow wasting tens of millions of USD to become insolvent.  You need to elaborate on that.

Mt. Gox's customers need an audit of Mt. Gox. Where are all those US dollars right now? 

In their bank accounts, of course.

[BitCoinNutJob]

... None of that delay comes from money-laundering regulations or conspiracy theories involving governments. This is plain, ordinary "they don't have enough money" stalling.

Why do you think Mt.Gox doesn't have enough money? You do realize Mt.Gox was making money on BTC years ago when it was less than $0.50. You don't think they loaded up on BTC which is now worth over $100 (over a 10,000% increase)? I may not know much about their USD, but I'll bet anything they have a ton of BTC worth millions in USD at the very least.

Yep i agree, i'm just gunna guess gox is the largest BTC holder by far.  Gox seem very keen to promote bitcoin have you all noticed ?

If they were to run off with customer money it would probably cost them more vs paying customers back because of lost BTC community investment/confidence.   Overall its a very bullish time for BTC over the next few years.

[BitCoinNutJob]

you need to study more

[cosurgi]

....  And how on earth could MtGox have spent tens of millions in half a year, which would be required to get in financial trouble?
....

http://thegenesisblock.com/warrant-for-mt-gox-wells-fargo-accounts-shows-additional-2-1m-seized/

[MarKusRomanus]

Well, I've finally pulled the pin on MTGox.  USD Transfers from June 13th and still not completed.  Yesterday I cancelled all wire transfers and bought bitcoins.  I've taken all the coins out of MTGox.