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Author Topic: MtGox withdrawal delays [Gathering]  (Read 878531 times)
donk4u
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February 16, 2014, 01:19:54 AM
 #4241

If mt gox finally alows people to withdraw and mt gox bitcoin is at say 300 usd while other exchanges are at 650 how does that work exactly?

Then people withdraw to other exchanges and get back to normal (and hopefully in that process, mtgox goes away forever).


nope. it will jump to 750$ at bitstamp and co, and to 850$ on gox. within seconds. thats what is going to happen. same situation as before that mess!


pretty simple...

ok thanks
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ArticMine
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February 16, 2014, 01:31:40 AM
 #4242

but I could find no report of Sepa transfer still stuck after 6 weeks, like I'm experiencing now
A SEPA transfer usually takes 1 day to clear.

Yes, but Gox supposedly has a quota of 200k EUR per day of SEPA transfers. (It used to be 100k per day, and this was confirmed by someone who actually called their bank in order to ask - I don't know if the bank actually divulged information about Gox (I think that would be illegal) - but probably they asked what kind of limit would a foreign business opening an account have.)

For comparison - I casually made a SEPA transfer of 1,000,000 euros from my personal account to a company in a different country.

MTGox was having problems in the EU long before they ran into trouble with the US last year. This is from 2011 involving issues in France https://bitcointalk.org/index.php?topic=41317.0

Concerned that blockchain bloat will lead to centralization? Storing less than 4 GB of data once required the budget of a superpower and a warehouse full of punched cards. https://upload.wikimedia.org/wikipedia/commons/8/87/IBM_card_storage.NARA.jpg https://en.wikipedia.org/wiki/Punched_card
smoothie
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February 16, 2014, 01:41:46 AM
 #4243

~$300 spread between Bitstamp and Gox.

lol MTGOX is dying...good riddance.

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barryliu
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February 16, 2014, 03:52:16 AM
 #4244

From #mtgox:
Quote
[19:08] <XXX> so if 100k EUR /day isn't enough then why not get a couple more accounts in different EU countries? also a GBP account in UK would be nice
[19:09] <@YYY> because most banks will not accept to open a bank account for a bitcoin exchange
[19:09] <@YYY> its not easy to find new banking partners
[19:09] <@YYY> and it takes time

Especially if you have such a bad reputation
I don't care for their excuses.
Point is, they have problems, you know they have problems, you use them anyway.
You can't really complain, then.


we need a website, all of us get together and send MT to the court!!!!

is here any solicitor or barrister here?? we can form a team to against MT!!!

if no way to complain, we can go to legal action, we can form our website to collect all the MT customer together, is it help?Huh?
BitPaulo
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February 16, 2014, 05:23:14 AM
 #4245

WTH just happened at Gox? there was a transaction made at around 375EUR with a bit more than 300BTC.

Is this just part of a test? was it just a mistake from somebody? or is there something dodgy here?

any clarification on that could provide more info on withdrawals...
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February 16, 2014, 05:35:01 AM
 #4246

Can one cancel fiat withdrawals on Sundays?
zyk
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February 16, 2014, 05:54:02 AM
 #4247

Can one cancel fiat withdrawals on Sundays?

yesterday they did it 8 hours after I requested...they love to have no fiat liabilities...thats was always telling..

the fat-ass is even a bit smarter than pirate  Undecided
raskul
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February 16, 2014, 06:20:00 AM
 #4248

WTH just happened at Gox? there was a transaction made at around 375EUR with a bit more than 300BTC.

Is this just part of a test? was it just a mistake from somebody? or is there something dodgy here?

any clarification on that could provide more info on withdrawals...

can you show proof of this please?

tips    1APp826DqjJBdsAeqpEstx6Q8hD4urac8a
BitPaulo
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February 16, 2014, 07:05:13 AM
 #4249

WTH just happened at Gox? there was a transaction made at around 375EUR with a bit more than 300BTC.

Is this just part of a test? was it just a mistake from somebody? or is there something dodgy here?

any clarification on that could provide more info on withdrawals...

can you show proof of this please?


sure, here you go:




Blazed
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February 16, 2014, 07:13:54 AM
 #4250

Sad thing is people will still use them after they open withdraws back up.
zyk
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February 16, 2014, 07:48:32 AM
 #4251

Sad thing is people will still use them after they open withdraws back up.

they never will - thats for sure  Wink
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February 16, 2014, 08:40:25 AM
 #4252

windjc
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February 16, 2014, 08:53:56 AM
 #4253

Please tell me no one commenting and/or reading this thread is one of the epic morons who sold on GOX on the way down to $270.  Because whoever has been selling below $500-$600 is a crazy crazy foolish person.

As soon as Gox reopens withdrawals, the price on the exchange is going to rocket to over $700 in minutes. Minutes.

You guys have the deal of the century, a once in a lifetime opportunity to buy bitcoins at 30 cents on the dollar thanks to epic morons who are selling right now (who I hope to god isn't you).

raskul
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February 16, 2014, 08:56:22 AM
 #4254

Please tell me no one commenting and/or reading this thread is one of the epic morons who sold on GOX on the way down to $270.  Because whoever has been selling below $500-$600 is a crazy crazy foolish person.

As soon as Gox reopens withdrawals, the price on the exchange is going to rocket to over $700 in minutes. Minutes.

You guys have the deal of the century, a once in a lifetime opportunity to buy bitcoins at 30 cents on the dollar thanks to epic morons who are selling right now (who I hope to god isn't you).



my only issue with this idea, is that i wouldn't pump fiat into gox if my life depended on it.
not even for BTC at $280... odds are that gox won't ever open for trading again. coins and fiat will be locked in forever and i'd have lost everything I put in to buy those coins.

thoughts?


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windjc
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February 16, 2014, 09:01:41 AM
 #4255

Please tell me no one commenting and/or reading this thread is one of the epic morons who sold on GOX on the way down to $270.  Because whoever has been selling below $500-$600 is a crazy crazy foolish person.

As soon as Gox reopens withdrawals, the price on the exchange is going to rocket to over $700 in minutes. Minutes.

You guys have the deal of the century, a once in a lifetime opportunity to buy bitcoins at 30 cents on the dollar thanks to epic morons who are selling right now (who I hope to god isn't you).



my only issue with this idea, is that i wouldn't pump fiat into gox if my life depended on it.
not even for BTC at $280... odds are that gox won't ever open for trading again. coins and fiat will be locked in forever and i'd have lost everything I put in to buy those coins.

thoughts?



Yeah I have some thoughts about that. Gox is completely and utterly solvent. They will reopen withdrawals of btc sometime this week and minutes after they do, the price is going to be $700-800.

Gox will be trading for months and years to come, on less and less volume because they are completely incompetent business owners.
raskul
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February 16, 2014, 09:07:36 AM
 #4256

Please tell me no one commenting and/or reading this thread is one of the epic morons who sold on GOX on the way down to $270.  Because whoever has been selling below $500-$600 is a crazy crazy foolish person.

As soon as Gox reopens withdrawals, the price on the exchange is going to rocket to over $700 in minutes. Minutes.

You guys have the deal of the century, a once in a lifetime opportunity to buy bitcoins at 30 cents on the dollar thanks to epic morons who are selling right now (who I hope to god isn't you).



my only issue with this idea, is that i wouldn't pump fiat into gox if my life depended on it.
not even for BTC at $280... odds are that gox won't ever open for trading again. coins and fiat will be locked in forever and i'd have lost everything I put in to buy those coins.

thoughts?



Yeah I have some thoughts about that. Gox is completely and utterly solvent. They will reopen withdrawals of btc sometime this week and minutes after they do, the price is going to be $700-800.

Gox will be trading for months and years to come, on less and less volume because they are completely incompetent business owners.

of course, you may be right, however i'm not ready to run that risk. I hope those who have put fiat into gox to buy coins at the low rate, do get their funds withdrawn... it's been a shitstorm.

tips    1APp826DqjJBdsAeqpEstx6Q8hD4urac8a
windjc
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February 16, 2014, 09:20:38 AM
 #4257

How long does it take for U.S. wires to land into Gox accounts?
BitPaulo
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February 16, 2014, 09:21:22 AM
 #4258

Please tell me no one commenting and/or reading this thread is one of the epic morons who sold on GOX on the way down to $270.  Because whoever has been selling below $500-$600 is a crazy crazy foolish person.

As soon as Gox reopens withdrawals, the price on the exchange is going to rocket to over $700 in minutes. Minutes.

You guys have the deal of the century, a once in a lifetime opportunity to buy bitcoins at 30 cents on the dollar thanks to epic morons who are selling right now (who I hope to god isn't you).



my only issue with this idea, is that i wouldn't pump fiat into gox if my life depended on it.
not even for BTC at $280... odds are that gox won't ever open for trading again. coins and fiat will be locked in forever and i'd have lost everything I put in to buy those coins.

thoughts?



Yeah I have some thoughts about that. Gox is completely and utterly solvent. They will reopen withdrawals of btc sometime this week and minutes after they do, the price is going to be $700-800.

Gox will be trading for months and years to come, on less and less volume because they are completely incompetent business owners.

of course, you may be right, however i'm not ready to run that risk. I hope those who have put fiat into gox to buy coins at the low rate, do get their funds withdrawn... it's been a shitstorm.

I have the feeling that once withdraws open, Gox price will match other exchanges within a few days. Until it stabilizes, there will be crazy/stupid transactions happening, with the price fluctuating sharply. Also I think there will be some buyers but very few sellers. Few sellers, because most people will have withdrawn their BTC.

and then, Gox will slowly die as there will be lower and lower volumes.
BitPaulo
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February 16, 2014, 09:24:05 AM
 #4259

How long does it take for U.S. wires to land into Gox accounts?

Because it is an international transfer, it would take about 5-7 business days.

Also, I thought they stopped accepting US transfers? maybe I am wrong...
windjc
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February 16, 2014, 09:28:54 AM
 #4260

How long does it take for U.S. wires to land into Gox accounts?

Because it is an international transfer, it would take about 5-7 business days.

Also, I thought they stopped accepting US transfers? maybe I am wrong...

I think you are right.
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