MtGox withdrawal delays [Gathering]

[Macno]

Yes, ONE TIME. Nice. But if you try to do that more than once you risk buying back your BTC at Bitstamp to a price higher than 18% as soon (or late) as your money arrives. That`s all I`m saying.

[1715478132]

1715478132

[zyk]

but then you sell em again for the nice markup...everybody is beginning to do that right now...the spread alraedy crashed to a mere 13 %

buying panic at bitstamp!....don´t miss out...sell the whales at gox their coins for a nice profit...ready steady go !

[arniea]

Yes, ONE TIME. Nice. But if you try to do that more than once you risk buying back your BTC at Bitstamp to a price higher than 18% as soon (or late) as your money arrives. That`s all I`m saying.

I think this scenario assumes you always have a pool of fiat and are not 100% BTC. You can do the operation multiple times, just buy on bitstamp exactly the same time as you sell on Gox, every time. Then transfer the BTC to Gox, wait a month for your SEPA to show up, then repeat.

"Just wait a month"...

It takes a little bit longer than a month
And If you invest a large amount, you're always scared that Gox will scam you, aren't you?
So it's nice for a daredevil.

[arniea]

Hey, I didn't say it's a good idea - I don't do it . Just saying that exchange rate risk is not one of the (many) risks you're exposed to.

true story 

[sturle]

dont you get it ?...there is a 20 percent profit guarentee when dealing with Mt. Gox....free money for all Sepa account holders !!

I guess what he means is that it takes over 6 weeks to get you money.
So it isn't very profitable if you have to wait such a long time

About 20 days between each payout.  Read the top post on this page.  18% every 20 days is darn good interest.  You could take up a credit card loan to finance it, and still be profitable.  (I haven't of course, and I won't recommend anyone to do it either.)

[donk4u]

what about from mt gox to another bitcoin wallet why is it taking over 24 hours? Backlog ?they don't have the money? 200 dollar plus markup and 24 hours money out of my account no response from support who is there 24 seven wtf? Is it a japenese holiday that they aren't responding to emails?

[MrWr1TeR]

Guys I have a question: this morning I wanted to withdraw 2.8btc from my Mt.Gox account. I split it up in 2 parts of 1.4 each...
The idea was one part to Multibit and one to other exchange.

First withdrawl: 8:36 (email received) didn't appear on the blockchain nor in my Multibit wallet
As I saw nothing coming up I thought I forgot to confirm so I clicked confirm again, now 1.4 btc instantly appeared in Multibit. Another email 8:40 received about this transaction.

So clearly this 8:36 transaction is missing, my BTC funds are down by 2.8 btc, but I only recieved 1.4 I can't find this 8:36 transaction in blockchain.info and when I type my multibit address or transactionID in http://skanner.net/MtGox/mtgox_tx.php I can't find any error message.

What should I do? Wait a bit until the system auto-fixes this? Or write support ticket asap?

[igorr]

Guys I have a question: this morning I wanted to withdraw 2.8btc from my Mt.Gox account. I split it up in 2 parts of 1.4 each...
The idea was one part to Multibit and one to other exchange.

First withdrawl: 8:36 (email received) didn't appear on the blockchain nor in my Multibit wallet
As I saw nothing coming up I thought I forgot to confirm so I clicked confirm again, now 1.4 btc instantly appeared in Multibit. Another email 8:40 received about this transaction.

So clearly this 8:36 transaction is missing, my BTC funds are down by 2.8 btc, but I only recieved 1.4 I can't find this 8:36 transaction in blockchain.info and when I type my multibit address or transactionID in http://skanner.net/MtGox/mtgox_tx.php I can't find any error message.

What should I do? Wait a bit until the system auto-fixes this? Or write support ticket asap?

LoL, Mtgox is dead

[Taborresen]

Sorry for the people unable to withdraw USD from MtGox.

HOWEVER, SEPA does work. This is my recent SEPA withdraw history.
All withdraws coming from Poland to Belgium.
All amounts >> 1k€

- okt 21, received nov 26
- nov 9, received dec 17
- nov 16, received jan 8
- nov 19, received today jan 28
- nov 27, not yet received (so by the 20 day rule it should arrive on Feb 17)

The general rules from the MtGox FAQ seem to apply:
- about 6 weeks for a transfer
- minimum 20 days between each transfer (this is the one that seems to apply to 4 last transfers)

I withdrew NOK on nov 19. Still nothing. I used international wire. Maybe it takes longer.

[JohanM]

Johan, which bank do you use? (and also, a Flemish or a Walloon bank?)
I use "VDK Spaarbank".

So you say every withrawal you made arrived?
That would be great!

Yes, every withdrawal has arrived, even the ones in BTC.
My history is quite a bit longer than that, but only the current ones are relevant I think.

My bank is ING, well known in Holland 

[arniea]

Johan, which bank do you use? (and also, a Flemish or a Walloon bank?)
I use "VDK Spaarbank".

So you say every withrawal you made arrived?
That would be great!

Yes, every withdrawal has arrived, even the ones in BTC.
My history is quite a bit longer than that, but only the current ones are relevant I think.

My bank is ING, well known in Holland 

I know ING I also have an account, but I'd like to seperate them. (ING ==> Kraken / VDK ==> GOX)

My first withdrawal is one year ago or something, and it took 3 days I guess. So compared to nowadays, a LOT has changed 

[de3mka]

Has anyone successfully withdrawn BTC since Sunday?

Thanks

[peteMelbs]

yes i withdrew a small amount y'day which arrived right away, BUT im still waiting on 87 BTC from Saturday. I will keep you guys updated on how i go today.

[Chancellor]

MtGox finally accepted my bank account. Pushed some PLN to my bank. We'll see. It is rather low amount (less than 0.2 BTC). Will keep you informed.

[arniea]

MtGox finally accepted my bank account. Pushed some PLN to my bank. We'll see. It is rather low amount (less than 0.2 BTC). Will keep you informed.

if it's a SEPA Withdrawal, good luck! 

[Chancellor]

MtGox finally accepted my bank account. Pushed some PLN to my bank. We'll see. It is rather low amount (less than 0.2 BTC). Will keep you informed.

if it's a SEPA Withdrawal, good luck! 

Hard to say. People are reporting that all SEPA withdrawals are done through a Polish bank (BZWBK). I don't know how MtGox transfers fiat from Japan to BZWBK, but then they send SEPA transfers from there. In my case it would be simplier, as they can just transfer PLN between two Polish banks with a domestic Polish bank transfer. This is usually very fast (24 hours). Anyway I do expect delays, just want to verify this method of withdrawal.

[Nagle]

MtGox finally accepted my bank account. Pushed some PLN to my bank. We'll see. It is rather low amount (less than 0.2 BTC). Will keep you informed.

Is this a general pattern - a few small withdrawals go though, but not big ones? That's yet another indication that Mt. Gox is out of money.

[mp420]

I withdrew NOK on nov 19. Still nothing. I used international wire. Maybe it takes longer.

Cancel your withdrawal and withdraw with SEPA. International wires are not being sent at all (besides those "emergency" wires with 5% extra charge). As far as I know, there are still SWIFT transfers from June that haven't been sent.

[boumalo]

I have been verified on Mtgox, I wonder if I should deposit any money on the website

[Chancellor]

MtGox finally accepted my bank account. Pushed some PLN to my bank. We'll see. It is rather low amount (less than 0.2 BTC). Will keep you informed.

Is this a general pattern - a few small withdrawals go though, but not big ones? That's yet another indication that Mt. Gox is out of money.

Status update. It turned out that I cannot do a PLN withdrawal. The request has been rejected, with information that I have to withdraw in EUR. Then I had to buy bitcoins with PLN, sell them for EUR (FAQ says there is no other way to convert), of course paying the trade fee two times . Anyway I've put another withdrawal request, in EUR this time. It is worth noting however, that PLN withdrawal cancellation has been very fast as for MtGox, less than a hour .

Updated: Now the withdrawal is "confirmed". Then, farewell my money, see you in 6 weeks, I hope...