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Author Topic: MtGox withdrawal delays [Gathering]  (Read 855731 times)
EBM
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July 20, 2013, 07:15:58 PM
 #301


"Why do you really need your money so badly?"  I'm sorry, but those individuals are entitled to have their money released to them in a timely fashion.  What if your employer said "Why do you need your paycheck so badly?"  And what if they kept lying to you about the date you were to receive your check?  

What a ridiculous statement, especially since so many Bitcoin companies rely on Gox for cash flow.

Bitcoin/FIAT exchange is highly speculative. You can not win 1000% and more and at the same time you have the reliability of your savings Bank. Come on! Each Boitcoin exchange carries a huge risk. Risk and reward always go hand in hand.

But people organize their cash flow via Bitcoin exchanges? Who is stupid?

Are you trolling?

We're not winning anything. We mine, we sell. Very simple. So of course we need an exchange - just like every BTC-based business out there.

Is SatoshiDice stupid too? ASICminer? The whole ecosystem?

Plenty of other exchanges around, but we went with the largest because it is (was) the safest and most reputable.

If at any point this is too complicated for you to understand...

BTC: 1DZnyYaZ2VcQWNyYayNBqfTVQw2JQAmdA5
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OhShei8e
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July 20, 2013, 07:22:06 PM
 #302

We're not winning anything. We mine, we sell.

How selfless.  Cheesy

If at any point this is too complicated for you to understand...

You heard me. Nothing more to say.

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July 20, 2013, 07:26:37 PM
 #303

Do you really need the money so badly? I have lifted my entire operating from Gox since April by simply waiting for. On my last withdrawal I have been waiting six weeks. I would have waited even three months. I think without all the support requests of nervous people Gox had already done everything. Wink

"Why do you really need your money so badly?"  I'm sorry, but those individuals are entitled to have their money released to them in a timely fashion.  What if your employer said "Why do you need your paycheck so badly?"  And what if they kept lying to you about the date you were to receive your check?  

What a ridiculous statement, especially since so many Bitcoin companies rely on Gox for cash flow.



Seconded. Most stupid statement on this entire thread.

Gox has very nearly killed our company completely. We could not pay our contractors, suppliers or even make payroll last month (yes, that's real people's wages, mortgages, rent, food, child support, etc). Had to get an emergency loan from one of our seed investors, which he was not happy about at all.

And even then, our contractors were paid so late that we LOST 1/3rd OF OUR BUSINESS.

Finally found someone to buy all our coins privately and directly, so we'll never use Gox again. They really do deserve to collapse.

+1
sheiße's comment was outrageous to say the least. He's either a troll or plain stupid.

Just a question: instead of borrowing money from an investor, couldn't you just use another exchange? Or you have a withdrawal locked in limbo and they refused to unlock it?

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EBM
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July 20, 2013, 09:53:09 PM
 #304

Exactly that - it was in limbo.

Main problem was the BS from Gox. Two week hiatus, they said. We could survive that, and took them at their word.

Turned into a 5 week wait for USD that never came. Eventually gave up waiting, cancelled and took our BTC out, but by then the damage was done.

@trollboy You do know what happens if nobody ever sells a currency, don't you? It fails completely. End of experiment, everyone loses everything, thanks for playing.

And as it happens, we'd love to be able to keep some in reserve (we were mining pre-$10), but we are not permitted to. Long story.

Still, no doubt the reason you're not selling BTC now has absolutely nothing to do with the possibility that you could make even bigger profits in the future. Hasn't even crossed your mind...  Roll Eyes

BTC: 1DZnyYaZ2VcQWNyYayNBqfTVQw2JQAmdA5
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July 20, 2013, 10:47:38 PM
 #305

Still, no doubt the reason you're not selling BTC now has absolutely nothing to do with the possibility that you could make even bigger profits in the future. Hasn't even crossed your mind...  Roll Eyes

You could pay in Bitcoins. So you do not need to exchange for paying people. Hasn't even crossed your mind... 

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July 21, 2013, 12:14:11 AM
 #306

Exactly that - it was in limbo.

Main problem was the BS from Gox. Two week hiatus, they said. We could survive that, and took them at their word.

Turned into a 5 week wait for USD that never came. Eventually gave up waiting, cancelled and took our BTC out, but by then the damage was done.

@trollboy You do know what happens if nobody ever sells a currency, don't you? It fails completely. End of experiment, everyone loses everything, thanks for playing.

And as it happens, we'd love to be able to keep some in reserve (we were mining pre-$10), but we are not permitted to. Long story.

Still, no doubt the reason you're not selling BTC now has absolutely nothing to do with the possibility that you could make even bigger profits in the future. Hasn't even crossed your mind...  Roll Eyes

Yes, greed blinds some people from the obvious problems at Gox. 
flound1129
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July 21, 2013, 02:16:58 AM
 #307

But people organize their cash flow via Bitcoin exchanges? Who is stupid?

How else do you propose those who buy goods or pay employees with fiat and sell the goods/services for BTC organize their cash flow?

We're not all teenagers living in our parents' house.  Some of us have mortgages and bills to pay to people who only accept fiat.

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July 21, 2013, 04:32:40 AM
 #308

Still, no doubt the reason you're not selling BTC now has absolutely nothing to do with the possibility that you could make even bigger profits in the future. Hasn't even crossed your mind...  Roll Eyes

You could pay in Bitcoins. So you do not need to exchange for paying people. Hasn't even crossed your mind... 

Pay in BTC? No way! Why on Earth would we do that when we can use a slower, more annoying and more expensive method...?

(Of course, every one of our suppliers and contractors accepts BTC. We just refuse to pay them with it.)

 Embarrassed

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July 21, 2013, 12:06:15 PM
 #309

But people organize their cash flow via Bitcoin exchanges? Who is stupid?

How else do you propose those who buy goods or pay employees with fiat and sell the goods/services for BTC organize their cash flow?

We're not all teenagers living in our parents' house.  Some of us have mortgages and bills to pay to people who only accept fiat.

OTC. Learn it, love it.

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July 21, 2013, 12:17:49 PM
 #310

But people organize their cash flow via Bitcoin exchanges? Who is stupid?

How else do you propose those who buy goods or pay employees with fiat and sell the goods/services for BTC organize their cash flow?

This is very risky. Each currency exchange may disappear from today to tomorrow. What do you do if the markets fall into difficulties? You should at least have enough reserves for some months.


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July 21, 2013, 04:09:13 PM
 #311

But people organize their cash flow via Bitcoin exchanges? Who is stupid?

How else do you propose those who buy goods or pay employees with fiat and sell the goods/services for BTC organize their cash flow?

We're not all teenagers living in our parents' house.  Some of us have mortgages and bills to pay to people who only accept fiat.

OTC. Learn it, love it.

I'm not following you.  How would a 100 person company leverage OTC to pay their employees?

How would I leverage it to pay my mortgage?

Do you think I can collect enough cash doing 3 BTC sales in coffee shops to run an enterprise?

Multipool - Always mine the most profitable coin - Scrypt, X11 or SHA-256!
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July 21, 2013, 04:11:32 PM
 #312

mtgox sucks

I love bitstamp.

this account had been hacked....i lost 1.5 btc send to this addres 176rSQx4ij439YuekdaTi2biaT5SPugnN5, from ghana fucking hacker.
 I will close this account
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July 21, 2013, 11:11:00 PM
 #313

I'm not following you.  How would a 100 person company leverage OTC to pay their employees?

How would I leverage it to pay my mortgage?

Do you think I can collect enough cash doing 3 BTC sales in coffee shops to run an enterprise?

OTC carries more than half the total BTC trade. Always has. Just because you're a noob and consequently worth 0 to the system does not make the system worth zero, stop with the superficial self centered bs, it's ridiculous. The people that matter in BTC look with the exact same disdain at the so called "exchanges" - the only difference is that they have a point.

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EBM
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July 22, 2013, 02:46:10 PM
 #314

I'm not following you.  How would a 100 person company leverage OTC to pay their employees?

How would I leverage it to pay my mortgage?

Do you think I can collect enough cash doing 3 BTC sales in coffee shops to run an enterprise?

OTC carries more than half the total BTC trade. Always has. Just because you're a noob and consequently worth 0 to the system does not make the system worth zero, stop with the superficial self centered bs, it's ridiculous. The people that matter in BTC look with the exact same disdain at the so called "exchanges" - the only difference is that they have a point.

"You're a noob and consequently worth 0..."

"The people that matter..."

Lovely attitude you have there.

BTC: 1DZnyYaZ2VcQWNyYayNBqfTVQw2JQAmdA5
flound1129
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July 22, 2013, 05:48:45 PM
 #315

I'm not following you.  How would a 100 person company leverage OTC to pay their employees?

How would I leverage it to pay my mortgage?

Do you think I can collect enough cash doing 3 BTC sales in coffee shops to run an enterprise?

OTC carries more than half the total BTC trade. Always has. Just because you're a noob and consequently worth 0 to the system does not make the system worth zero, stop with the superficial self centered bs, it's ridiculous. The people that matter in BTC look with the exact same disdain at the so called "exchanges" - the only difference is that they have a point.

And that point is <random incoherent ad hominem attacks>, apparently.

Multipool - Always mine the most profitable coin - Scrypt, X11 or SHA-256!
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July 22, 2013, 06:34:54 PM
 #316

Is there an official MTGOX statement which I have missed?

I have 2 SEPAs stuck:

2013/05/29
2013/06/11

None of them got to my bank account.
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July 22, 2013, 07:16:49 PM
 #317

Is there an official MTGOX statement which I have missed?

I have 2 SEPAs stuck:

2013/05/29
2013/06/11

None of them got to my bank account.

Lol nope.  Well, at least nothing you can take as fact.
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July 22, 2013, 07:20:56 PM
 #318

My withdrawal/delay info, inspired by db:

2013-04-11: 2xxx EUR, arrived 2013-05-27 (46 days)
2013-04-16: 3xxx EUR, arrived 2013-06-11 (56 days)
2013-05-03: 7xxx EUR, arrived 2013-07-22 (80 days)

My last one arrived today, after 80 days of waiting!
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July 22, 2013, 07:48:55 PM
 #319

My withdrawal/delay info, inspired by db:

2013-04-11: 2xxx EUR, arrived 2013-05-27 (46 days)
2013-04-16: 3xxx EUR, arrived 2013-06-11 (56 days)
2013-05-03: 7xxx EUR, arrived 2013-07-22 (80 days)

My last one arrived today, after 80 days of waiting!

Thank you. My transfer arrived four days ago and I've been waiting 48 days for it. It was also smaller, just 950 Euros. I've already seen some people who get their euro withdrawals, but you're the first one with a withdrawal greater than 1000 euros. That's a good sign.

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July 23, 2013, 06:24:54 AM
 #320

May 3rd   Coinlab Suit
May 14th    Dwolla Seizure
June 20th   Temporary Hiatus on US dollar withdraws
July 4th    Resumption of withdraws
July 10th   Changes to Deposit procedures









source: bitcoincharts.com
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