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Author Topic: MtGox withdrawal delays [Gathering]  (Read 857236 times)
posormo
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October 21, 2013, 06:36:59 AM
 #2041

Want the highest price for your coins, your going to have to wait.   What a load of bitching and moaning this thread has become.   You've all known there were withdrawal issues for like 6 months.  So stop sending your coins there.   Its not rocket science.

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gizmoh
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October 21, 2013, 06:42:38 AM
 #2042

Waiting for Euro 10k SEPA transfer for >1 month now. Trusted Gox account. Getting impatient.


My 10k Euro arrived on 18 Oct. Withdrawal date 12 Sep. Phew.

PS: I lost 110 Euro somewhere between MtGox/Poland and my bank in a neighboring country. Can't be SEPA, so MtGox took it? Fees? (haven't used Euro withdrawal before)


Miracles do happen from time to time. If 1 in 100 request gets filled, then its a good indication they are broke.

How Ripple Rips you: "The founders of Ripple Labs created 100 billion XRP at Ripple's inception. No more can be created according to the rules of the Ripple protocol. Of the 100 billion created, 20 billion XRP were retained by the creators, seeders, venture capital companies and other founders. The remaining 80 billion were given to Ripple Labs. Ripple Labs intends to distribute and sell 55 of that 80 billion XRP to users and strategic partners. Ripple Labs also had a giveaway of under 200 million XRP (0.002% of all XRP) via World Community Grid that was later discontinued.[29] Ripple Labs will retain the remaining 25 billion"
mp420
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October 21, 2013, 07:30:49 AM
 #2043

Waiting for Euro 10k SEPA transfer for >1 month now. Trusted Gox account. Getting impatient.


My 10k Euro arrived on 18 Oct. Withdrawal date 12 Sep. Phew.

PS: I lost 110 Euro somewhere between MtGox/Poland and my bank in a neighboring country. Can't be SEPA, so MtGox took it? Fees? (haven't used Euro withdrawal before)


Miracles do happen from time to time. If 1 in 100 request gets filled, then its a good indication they are broke.


Actually, SEPA withdrawals do work. There is no indication anywhere that there are SEPA withdrawals made before Sep 10 or so that haven't been processed.

International withdrawals, however, are processed so slowly (if at all) that they do not really progress at all. I'd guess they process one day's worth of regular USD withdrawals every month, at most.

Gox is not out of fiat. Even if they have lost most of their fiat reserves, there are still idiots who send fiat to Gox in order to buy (at the 10% premium). And as long as people send fiat to Gox, they make money with the fees. So, even if they're under water, they'll surface eventually.
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October 21, 2013, 08:02:11 AM
 #2044

No shit.  The obvious reason for this is that Mt. Gox does not do a good job of communications.

For my part, a lack of information is a neutral indication of incompetence.  Deliberate mis-information such as what they have produced with their 'several weeks' assertions are no longer neutral.  This has turn me hostile to Mt. Gox over the last few weeks.
A fun thought experiment: Take the information you think is true. Your task is to find Mt.Gox actions that enables all Mt.Gox users
equally to act without destroying the exchange beyond the possibility of repair.

Tell us your findings here.

P.S.: If you are Mt.Gox friendly, you could add that counterparties are interested in aggravating the situation through
altering perception (i.e. through blogs, forum entries ...). Bitcoin-land I love you.

Very difficult for me.  I almost never think anything is true with 100% certainty.  I usually can only assign a probability to something, then shift it around as observations come in.  Anyway, I don't really understand your experiment as stated.  I'd like to though because I delight in fun thought experiments.

I'm much more hostile then friendly as long as they sit on my money and give me false information about when (and if) I can expect it.  OTOH, I had to force the situation in order to get verified, and I was under no false illusion about the severity of their problems and the kinds of difficulties I was very likely to face.  I'd prefer to see Mt. Gox emerge as a viable entity because I think it would be good for Bitcoin, and because I feel that they have done generally positive things for the ecosystem over it's life.  I think it a fair bet that if they survive at all, they will never achieve the dominance that they once commanded.  That is also a good thing in my opinion.


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October 21, 2013, 08:26:53 AM
 #2045

Waiting for Euro 10k SEPA transfer for >1 month now. Trusted Gox account. Getting impatient.


My 10k Euro arrived on 18 Oct. Withdrawal date 12 Sep. Phew.

PS: I lost 110 Euro somewhere between MtGox/Poland and my bank in a neighboring country. Can't be SEPA, so MtGox took it? Fees? (haven't used Euro withdrawal before)

 Lucky you, still waiting on mine. The 110 is a 1% fee they take.

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e4xit
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October 21, 2013, 09:14:14 AM
 #2046

it's simple, you cant withdraw fiat currency out of mtgox, so only way for people to get money out is to buy bitcoins and transfer it out.
This is not true.   I received an EUR transfer myself on Thursday, and domestic JPY is pretty fast.  USD transfers are either extremely delayed or very expensive.

Quote
Last time i will say this - get your bitcoins out of mtgox, it's just not worth the risk to leave it in there - there is no reward only risk.
Unless you want to sell them for EUR or JPY and withdraw the fiat, of course.  You will get much more for your bitcoins at MtGox than almost anywhere else.  Or trade, of course.  I made a pretty sum myself yesterday.

You may have recieved one on thursday, but when did you request it?

They have said to me (in a support email) that SEPA transfers are more than 4 weeks, I had one which was on 3 weeks and counting so frankly I believe them when they say this...  This does not look good for them, I am not so sure why you are so hell-bent on trying to pursuade others that transfers on gox are working well when they clearly aren't, but as anybody reading this thread should have now realised, despite what some users say, withdrawals on Gox are really a no-go: Don't do it.

If you don't have the private key for "your" bitcoins then you have no bitcoins.
There are a million bits in a bitcoin: 1 ฿ = 1,000,000 ƀ
Lohoris
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October 21, 2013, 11:37:09 AM
 #2047

Want the highest price for your coins, your going to have to wait.   What a load of bitching and moaning this thread has become.   You've all known there were withdrawal issues for like 6 months.  So stop sending your coins there.   Its not rocket science.
+1

people just want to get hurt.

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October 21, 2013, 11:39:48 AM
 #2048

Want the highest price for your coins, your going to have to wait.   What a load of bitching and moaning this thread has become.   You've all known there were withdrawal issues for like 6 months.  So stop sending your coins there.   Its not rocket science.
+1

people just want to get hurt.


It's not that easy. Unfortunately it also burns newcomers.
There should be a warning on bitcointalk like "Don't deal with Gox, don't buy BFL etc..."
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October 21, 2013, 11:43:00 AM
 #2049

It's not that easy. Unfortunately it also burns newcomers.
There should be a warning on bitcointalk like "Don't deal with Gox, don't buy BFL etc..."
Yes, but only to a point.
I discovered bitcoin when price was ~$0.5, but I wasn't able to find an exchange that didn't sound fishy to me, so I just didn't do anything.
I started buying them when price was at ~$5, when I was satisfied by what I found.
"Just doing it" and "being careful" are opposite strategies, sometimes one is better, sometimes the other one is.

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morningtime
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October 21, 2013, 12:10:42 PM
 #2050

Waiting for Euro 10k SEPA transfer for >1 month now. Trusted Gox account. Getting impatient.


My 10k Euro arrived on 18 Oct. Withdrawal date 12 Sep. Phew.

PS: I lost 110 Euro somewhere between MtGox/Poland and my bank in a neighboring country. Can't be SEPA, so MtGox took it? Fees? (haven't used Euro withdrawal before)


Miracles do happen from time to time. If 1 in 100 request gets filled, then its a good indication they are broke.


The EUR withdrawals have been working consistently for me since August. It just takes anywhere from 2-6 weeks.

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October 21, 2013, 04:35:21 PM
 #2051

Everything has been resolved for me. My BTC arrived a couple minutes ago. The support staff on the IRC channel were very helpful.

Please tell us how many hours it took to receive your coins from Gox, it may be helpful to others in the same situation as you were.

Sometimes, if it looks too bullish, it's actually bearish
bitcoinbboyce
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October 21, 2013, 04:52:27 PM
 #2052

Waiting for Euro 10k SEPA transfer for >1 month now. Trusted Gox account. Getting impatient.


My 10k Euro arrived on 18 Oct. Withdrawal date 12 Sep. Phew.

PS: I lost 110 Euro somewhere between MtGox/Poland and my bank in a neighboring country. Can't be SEPA, so MtGox took it? Fees? (haven't used Euro withdrawal before)


Miracles do happen from time to time. If 1 in 100 request gets filled, then its a good indication they are broke.


The EUR withdrawals have been working consistently for me since August. It just takes anywhere from 2-6 weeks.


Me too
MAbtc
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October 21, 2013, 05:06:40 PM
 #2053

2-6 weeks for EUR withdrawals? I've been reading posts around the forum saying Gox non-USD withdrawals are working fine..... is this "fine"? If so, these are just shills running around saying things are "fine"....
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October 21, 2013, 06:08:49 PM
 #2054

2-6 weeks for EUR withdrawals? I've been reading posts around the forum saying Gox non-USD withdrawals are working fine..... is this "fine"? If so, these are just shills running around saying things are "fine"....

The most compelling hypothesis I've heard is that these guys are cleaning up on the abritrage opportunities which will vanish if/when Mt. Gox does.  Such an event would likely follow a widespread acceptance that Mt. Gox has a limited ability to perform exchange functions effectively, and is a dangerous place to entrust one's funds to.


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October 21, 2013, 06:16:32 PM
 #2055

and is a dangerous place to entrust one's funds to.
The lesson that current events have been trying to teach us since 2008 is that entrusting funds is a dangerous activity, one the cryptocurrencies should make obsolete.
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October 21, 2013, 06:27:36 PM
 #2056

and is a dangerous place to entrust one's funds to.
The lesson that current events have been trying to teach us since 2008 is that entrusting funds is a dangerous activity, one the cryptocurrencies should make obsolete.

maybe eventually, but as it stands, everyone pours their money into centralized entities simply to purchase crypto......

sturle
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October 21, 2013, 06:50:12 PM
 #2057

2-6 weeks for EUR withdrawals? I've been reading posts around the forum saying Gox non-USD withdrawals are working fine..... is this "fine"? If so, these are just shills running around saying things are "fine"....
This is the best they can do legally without licensing as a payment service provider in the EU.  The limit is 3 million EUR / month.  The licensing process is ongoing, but takes 6 months to a year.  It is very expensive as well, and they couldn't afford it until this year.

Sjå https://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
Warning: "Bitcoin" XT, Classic, Unlimited and the likes are scams. Don't use them, and don't listen to their shills.
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October 21, 2013, 08:05:28 PM
 #2058

so is September 13 th already processed ?

its not even pending in my book....so the buck stopped right here!!?? Huh

HowlingMad
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October 22, 2013, 01:48:15 AM
 #2059

This was a follow-up response, after I complained and made it clear I would post my experience.

"Thank you for the email. We have forwarded this to our development team. You will updated once the transaction has been completed."

I think Gox's goose is cooked just in time for the holiday season.
Sorry guys does anyone realize there is still a lawsuit pending against mtgox?  US customers are going to be hosed until this lawsuit is settled!
On or about March 20, 2013 MtGox sent an email to CoinLab which set forth a list of the states which had MtGox customers and the approximate percentage of U.S. customers located in each such state. Between approximately March 19, 2013 and April 20, 2013 MtGox personnel and CoinLab personnel had several oral and email communications in which MtGox sought todetermine if CoinLab was properly registered with FinCEN as a money transmitter and properly licensed as a money transmitter in those states in which MtGox customers were located. In such communications CoinLab personnel admitted that CoinLab was not registered with FinCEN as a MTB and that CoinLab had not been licensed as a MTB by any state. By the expiration of the Transition Period on March 22, 2013 CoinLab was not FinCEN registered as a money transmitter and was not licensed by any state to be a money transmitter. During these communications MtGox personnel made requests for a detailed and precise plan of how CoinLab would become compliant; in response CoinLab personnel repeatedly made vague statements, without a schedule, a deadline or a plan to finance the application process.
wow:
Notwithstanding that it was not compliant with applicable federal and state statutes and regulations, CoinLab nevertheless demanded that MtGox complete transfer of the customer accounts that were to be transferred under the Agreement. MtGox refused to do so because if CoinLab was not properly licensed or registered, CoinLab could be held in violation of federal and/or state laws, which could, among other things, prejudice customers.


So frankly, if you are in the US, don't waste your time!

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October 22, 2013, 06:08:41 AM
 #2060

I received a 5% withdrawal today, and have another pending. Everything is operating smoothly for me.

(BFL)^2 < 0
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