Bitcoin Forum
October 15, 2019, 05:39:52 PM *
News: If you like a topic and you see an orange "bump" link, click it. More info.
 
   Home   Help Search Login Register More  
Pages: « 1 ... 170 171 172 173 174 175 176 177 178 179 180 181 182 183 184 185 186 187 188 189 190 191 192 193 194 195 196 197 198 199 200 201 202 203 204 205 206 207 208 209 210 211 212 213 214 215 216 217 218 219 [220] 221 222 223 224 225 226 227 228 229 230 231 232 233 234 235 236 237 238 239 240 241 242 243 244 245 246 247 248 249 250 251 252 253 254 255 256 257 258 259 260 261 262 263 264 265 266 267 268 269 270 ... 346 »
  Print  
Author Topic: MtGox withdrawal delays [Gathering]  (Read 878059 times)
psilos
Newbie
*
Offline Offline

Activity: 50
Merit: 0


View Profile
February 17, 2014, 02:29:45 PM
 #4381

fiat jpy withdrawal submitted on jan 27th just went through this afternoon.

thats 14 business days. 6 day increase from one on jan 6 that was 8 business days.


Fiat SEPA withdrawal submitted on jan 7th just went through this mornig.

Hi Pedro, may I ask you what was the amount that you withdrew?

Because so far , people confirmed withdrawal of small amounts ~100-300 EUR.

 
1571161192
Hero Member
*
Offline Offline

Posts: 1571161192

View Profile Personal Message (Offline)

Ignore
1571161192
Reply with quote  #2

1571161192
Report to moderator
1571161192
Hero Member
*
Offline Offline

Posts: 1571161192

View Profile Personal Message (Offline)

Ignore
1571161192
Reply with quote  #2

1571161192
Report to moderator
Advertised sites are not endorsed by the Bitcoin Forum. They may be unsafe, untrustworthy, or illegal in your jurisdiction. Advertise here.
1571161192
Hero Member
*
Offline Offline

Posts: 1571161192

View Profile Personal Message (Offline)

Ignore
1571161192
Reply with quote  #2

1571161192
Report to moderator
1571161192
Hero Member
*
Offline Offline

Posts: 1571161192

View Profile Personal Message (Offline)

Ignore
1571161192
Reply with quote  #2

1571161192
Report to moderator
rpietila
Donator
Legendary
*
Offline Offline

Activity: 1652
Merit: 1005



View Profile
February 17, 2014, 02:32:08 PM
 #4382

I made a crude back-of-the envelope calculation back last year suggesting that if Gox is actually under water, it's only a few million total (when their orderbook is tens of millions). So, the people shouting "GOX IS INSOLVENT", please back your claim up with some kind of evidence or reasoning.

About the recent BTC withdrawal issue, evidence would be easy to gather from the blockchain. If you're suggesting someone scammed huge amounts of BTC out of Gox.

The burden of proof is on Gox and them alone. They have the means to prove if the have the coins, nobody outside of them has any realistic means to disprove it.

Oh wait, perhaps they do... you have to dismiss all the circumstantial evidence by 10,000s of people who have not had their coins or anything from gox first..  Roll Eyes  And even then the burden of proof is on Gox.
papamoi
Sr. Member
****
Offline Offline

Activity: 378
Merit: 250


View Profile
February 17, 2014, 02:51:51 PM
 #4383



anyone who wants to fund their acct in usd needs to go to moneypolo or okpay???

the direct transfer disappear from my acct

that s another goxing way to do business
coini
Newbie
*
Offline Offline

Activity: 6
Merit: 0


View Profile
February 17, 2014, 02:54:38 PM
Last edit: February 18, 2014, 06:33:03 AM by coini
 #4384

What is a story behing this new btc withdraw queue?
I think they wont limit btc withdraw but introduce this new delay tactic. Horrible. When will nightmire end.

I don't know what the story is, but whenever bitcoin withdrawals on MtGox are open again (better to say: if ever), you will probably face the impacts of another technical problem of the bitcoin protocol much sooner as expected: the blocksize limit of 1MB. The protocol can't handle a flood of transactions right now. Even under normal conditions 500kb blocks have not been a rare case in the last months. When 1MB is reached even for a small period of time, transactions will pile up, miners/mining pools will have to restart the daemons every once in a while to clean up the memory pool, and valid transcations will get lost or not be processed. Transaction fees will eventually rise sharply. Furthermore, you won't be too happy when MtGox stops the service. Tranfers made between MtGox wallets don't go through the bitcoin network. A missing MtGox will result in much more real transactions and this will push the network nearer to the limit. I hope MtGox will be wise enough to make a withdrawal queue for bitcoin, wich carefully stacks up transcations and broadcasts them in a decent manner... but on the other hands, when have they ever been wise?

With a burst of 10's of thousands of transactions, bitcoin is fine.
Transactions queue up, they get into blocks, and reasonably quickly get cleared out so your 'poolsz' gets back down to manageable levels (i.e. manageable being transactions getting through next block or so, most of the time)

This problem won't show up until a large company starts using bitcoin ... e.g. something like amazon or google or ...
That's when bitcoin will die.

For me Bitcoin is not fine at all. The blocksize limit generaly has become a top priority problem in my eyes - regardless of an eventually upcoming TX flood caused by MtGox withdrawals. 10's of thousands? Where will you put them? The bitcoin network can currently handle 4200 TX per block at best.

Forum member rpietila estimates that currently about 300.000 users were desperately waiting to remove their coins from the volcano, and I agree with that guess. So at least 300.000 transactions have to be processed in a shot period of time (will probably be much more, because many will make a small test withdrawal before removing bigger amounts).

The last 1000 blocks had an average size of 201292 byte. So when the MtGox flood comes, you have an average free space for 3360 transactions per block. After the first hour of mass removal more than 250.000 transactions will pile up in the network, wich will become completly unreliable then. Nobody would be able to reliably make transcations anymore for days. As it becomes likely then, that transactions get lost, I would save my wallet before every tansaction, to be able to retransmit without using wallet surgery tools.


mike81
Member
**
Offline Offline

Activity: 62
Merit: 10


View Profile
February 17, 2014, 03:43:38 PM
 #4385

The last 1000 blocks had an average size of 201292 byte. So when the MtGox flood comes, you have an average free space for 3360 transactions per block. After the first hours of mass removal roughly 250.000 transactions will pile up in the network. Maybe nobody would be able to reliably send Bitcoins anymore for days.

So this is where the transaction fees become important. It has all been thought through, the network won't break because of this, it just becomes a little more expensive to complete a transaction quickly.

On another note, i don't see where these 300.000 transactions would come from. You might be overestimating Mt.Gox a bit...
coini
Newbie
*
Offline Offline

Activity: 6
Merit: 0


View Profile
February 17, 2014, 03:57:39 PM
 #4386

The last 1000 blocks had an average size of 201292 byte. So when the MtGox flood comes, you have an average free space for 3360 transactions per block. After the first hours of mass removal roughly 250.000 transactions will pile up in the network. Maybe nobody would be able to reliably send Bitcoins anymore for days.

So this is where the transaction fees become important. It has all been thought through, the network won't break because of this, it just becomes a little more expensive to complete a transaction quickly.


Well, we will see. I think 300.000 transactions with a 0.1 BTC fee are still 300.000 transactions. Fees won't help much.
jack0m
Legendary
*
Offline Offline

Activity: 1960
Merit: 1094


View Profile
February 17, 2014, 03:59:52 PM
 #4387

fiat jpy withdrawal submitted on jan 27th just went through this afternoon.

thats 14 business days. 6 day increase from one on jan 6 that was 8 business days.


Fiat SEPA withdrawal submitted on jan 7th just went through this mornig.

Hi Pedro, may I ask you what was the amount that you withdrew?

Because so far , people confirmed withdrawal of small amounts ~100-300 EUR.

 

I can't believe it: I've just canceled a SEPA withdrawal for 10k EUR, then the very first one I submitted (1k EUR, confirmed since Jan 2nd) magically turned to pending!
Should I assume that's just a coincidence?  Huh

Money is a hoax. Debt is slavery. Consumerism is toxic.
psilos
Newbie
*
Offline Offline

Activity: 50
Merit: 0


View Profile
February 17, 2014, 04:04:42 PM
 #4388

fiat jpy withdrawal submitted on jan 27th just went through this afternoon.

thats 14 business days. 6 day increase from one on jan 6 that was 8 business days.


Fiat SEPA withdrawal submitted on jan 7th just went through this mornig.

Hi Pedro, may I ask you what was the amount that you withdrew?

Because so far , people confirmed withdrawal of small amounts ~100-300 EUR.

 

I can't believe it: I've just canceled a SEPA withdrawal for 10k EUR, then the very first one I submitted (1k EUR, confirmed since Jan 2nd) magically turned to pending!
Should I assume that's just a coincidence?  Huh

Well at least the good news are that SEPA is working for bigger amounts as well.

How did you cancel the withdrawal? Did you submit a ticket to the support or is there an automated way to do it? In case you submitted a ticket how long did it take for the support to reply you and then credit back the money to your account?
BitPaulo
Member
**
Offline Offline

Activity: 71
Merit: 10


View Profile
February 17, 2014, 04:12:17 PM
 #4389

fiat jpy withdrawal submitted on jan 27th just went through this afternoon.

thats 14 business days. 6 day increase from one on jan 6 that was 8 business days.


Fiat SEPA withdrawal submitted on jan 7th just went through this mornig.

Hi Pedro, may I ask you what was the amount that you withdrew?

Because so far , people confirmed withdrawal of small amounts ~100-300 EUR.

 

I can't believe it: I've just canceled a SEPA withdrawal for 10k EUR, then the very first one I submitted (1k EUR, confirmed since Jan 2nd) magically turned to pending!
Should I assume that's just a coincidence?  Huh

Well at least the good news are that SEPA is working for bigger amounts as well.

How did you cancel the withdrawal? Did you submit a ticket to the support or is there an automated way to do it? In case you submitted a ticket how long did it take for the support to reply you and then credit back the money to your account?

on my side, I canceled a withdrawal 5 days ago through a ticket and it took 5 hours to get my money into the account.
psilos
Newbie
*
Offline Offline

Activity: 50
Merit: 0


View Profile
February 17, 2014, 04:17:07 PM
 #4390

fiat jpy withdrawal submitted on jan 27th just went through this afternoon.

thats 14 business days. 6 day increase from one on jan 6 that was 8 business days.


Fiat SEPA withdrawal submitted on jan 7th just went through this mornig.



Hi Pedro, may I ask you what was the amount that you withdrew?

Because so far , people confirmed withdrawal of small amounts ~100-300 EUR.

 

I can't believe it: I've just canceled a SEPA withdrawal for 10k EUR, then the very first one I submitted (1k EUR, confirmed since Jan 2nd) magically turned to pending!
Should I assume that's just a coincidence?  Huh

Well at least the good news are that SEPA is working for bigger amounts as well.

How did you cancel the withdrawal? Did you submit a ticket to the support or is there an automated way to do it? In case you submitted a ticket how long did it take for the support to reply you and then credit back the money to your account?

on my side, I canceled a withdrawal 5 days ago through a ticket and it took 5 hours to get my money into the account.

Wow! So from the moment you sent the ticket, it took them just 5 hours to process it and credit back your money. That s fast.
jack0m
Legendary
*
Offline Offline

Activity: 1960
Merit: 1094


View Profile
February 17, 2014, 04:24:53 PM
 #4391

fiat jpy withdrawal submitted on jan 27th just went through this afternoon.

thats 14 business days. 6 day increase from one on jan 6 that was 8 business days.


Fiat SEPA withdrawal submitted on jan 7th just went through this mornig.



Hi Pedro, may I ask you what was the amount that you withdrew?

Because so far , people confirmed withdrawal of small amounts ~100-300 EUR.

 

I can't believe it: I've just canceled a SEPA withdrawal for 10k EUR, then the very first one I submitted (1k EUR, confirmed since Jan 2nd) magically turned to pending!
Should I assume that's just a coincidence?  Huh

Well at least the good news are that SEPA is working for bigger amounts as well.

How did you cancel the withdrawal? Did you submit a ticket to the support or is there an automated way to do it? In case you submitted a ticket how long did it take for the support to reply you and then credit back the money to your account?

on my side, I canceled a withdrawal 5 days ago through a ticket and it took 5 hours to get my money into the account.

Wow! So from the moment you sent the ticket, it took them just 5 hours to process it and credit back your money. That s fast.

well, there's a much faster way, although not officially supported by MtGox: http://skanner.net/MtGox/cwithdrawal.php
or you may directly use the undocumented api yourself: https://www.mtgox.com/api/2/money/bank/cancel_pending

Money is a hoax. Debt is slavery. Consumerism is toxic.
JohanM
Member
**
Offline Offline

Activity: 108
Merit: 10


View Profile
February 17, 2014, 04:28:07 PM
 #4392

Hey all,

Well, I also got a SEPA withdraw on my bank today. amount is 10k€

My full history is:
My SEPA withdraw history:
- okt 21, received nov 26
- nov 9, received dec 17
- nov 16, received jan 8
- nov 19, received jan 28
- nov 27, received today feb 17
- nov 28, not yet received ...

It still follows the "20 day between withdraw" rule like clockwork.
So my next should be received mar 9.
fonzie
Hero Member
*****
Offline Offline

Activity: 504
Merit: 500


Moderator


View Profile
February 17, 2014, 04:45:23 PM
 #4393

http://www.coindesk.com/mt-gox-may-headed-bankruptcy/

"To know death, Otto, you have to fuck life in the gallbladder"
www.hsbc.com  - The world´s local bank
"These FUDsters are insane egomaniacs that just want cheap BTC" - oblivi
invisiblefriend
Newbie
*
Offline Offline

Activity: 55
Merit: 0


View Profile
February 17, 2014, 04:51:10 PM
 #4394

BTCBTCBTC Cheesy

thank you in advance MTGOX

 of course we know u could have run away --


obviously u also see the large picture as we all do ---


thk u for not giving up n moving ahead ------     this is still very new -- n we allay be very lucky !  Wink WinkBTCBTCBTC
Bitsinmyhead
Sr. Member
****
Offline Offline

Activity: 465
Merit: 254


View Profile
February 17, 2014, 04:51:14 PM
 #4395

There is absolutely no reason for anyone to have fiat or pending withdrawals with Gox right now. With the current spread between Gox and Stamp you can easily move your fiat out of Gox. If you have fiat or pending withdrawals there send me a PM and I will have your money out in a couple of hours.

            ▄▄████▄▄
        ▄▄██████████████▄▄
      ███████████████████████▄▄
      ▀▀█████████████████████████
██▄▄       ▀▀█████████████████████
██████▄▄        ▀█████████████████
███████████▄▄       ▀▀████████████
███████████████▄▄        ▀████████
████████████████████▄▄       ▀▀███
 ▀▀██████████████████████▄▄
     ▀▀██████████████████████▄▄
▄▄        ▀██████████████████████▄
████▄▄        ▀▀██████████████████
█████████▄▄        ▀▀█████████████
█████████████▄▄        ▀▀█████████
██████████████████▄▄        ▀▀████
▀██████████████████████▄▄
  ▀▀████████████████████████
      ▀▀█████████████████▀▀
           ▀▀███████▀▀



.SEMUX
█ █
█ █
█ █
█ █
█ █
█ █
█ █
█ █
█ █
█ █
█ █
█ █
█ █
█ █
█ █
█ █
█ █
█ █
█ █
█ █
█ █
█ █
█ █
█ █
█ █
█ █
█ █
█ █
  Semux uses 100% original codebase
  Superfast with 30 seconds instant finality
  Tested 5000 tx per block on open network
█ █
█ █
█ █
█ █
█ █
█ █
█ █
█ █
█ █
█ █
█ █
█ █
█ █
█ █
BitPaulo
Member
**
Offline Offline

Activity: 71
Merit: 10


View Profile
February 17, 2014, 04:56:12 PM
 #4396


that article gave me the chills.....
cAPSLOCK
Legendary
*
Online Online

Activity: 2338
Merit: 1388


UNLEASH THE FURY!


View Profile
February 17, 2014, 05:00:23 PM
 #4397



We dont even know what the new limits are. If they are going to set the limit to 1 BTC per week I will also join the angry mob with pitchforks and fire.
The current BTC limit was 100 BTC per 24 hours and as many people are in panic mode currently I can imagine that MtGox wants to limit that somehow.
Maybe the new limit will be 10 BTC a day, maybe 10 BTC a month. Let's wait till Thursday and see


I am not angry, have never had a pitchfork, nor am I part of a mob. I am a poker player.  I can't help using deductive reasoning., Wink

The fact they are taking the time to announce adjustments to the withdrawal limits means they NEED to limit the withdrawals enough to mention it now.  Why do they NEED to limit withdrawals enough mention it now? Only two reasons I see... To put a valve on the outflow of coins from gox.  And/or they already know they don't have the coins to pay back customers in full (they have fractional holdings).

Secondly, did you notice something about a BTC withdrawal queue?

Considering Mt Gox's performance with fiat withdrawals I also believe this is unfortunately notable.

itsunderstood
Sr. Member
****
Offline Offline

Activity: 364
Merit: 250


American1973


View Profile
February 17, 2014, 05:13:34 PM
 #4398


"While everyone believed that the poker sites were making billions, their overheads due to staffing and marketing was significant."


^^^ Like I said: IT department is a cost center, and that COST of tech, is how top tier doucherry goes on.  The dumbshits at the top, think "staffing" is all it takes.  

Edward Snowden is all temps everywhere.  So, "staffing" takes on a whole new meaning when your temp worker can bring your corporation to its knees.  Thank ye gods poker "staff" don't moonlight as evil shits during the night, I guess poker network has more internal understanding than the cryptocoin clan?

Temp staffing as stupid policy?  Yes.  But, jobs are outmoded now that coins made the workers rich and they don't want to do shitty tech work but want to day trade, LOLZ.  Day trader says:  "Hey man, I WORK for a living, what do YOU do?"   Hahahahah...

Check out my prescient ATS thread from 2008: "Windows XP: End the Cyberwar, Open the Code Now!" http://www.abovetopsecret.com/forum/thread411978/pg1
Zarathustra
Legendary
*
Offline Offline

Activity: 1106
Merit: 1000



View Profile
February 17, 2014, 05:29:05 PM
 #4399

Actually they make 500 coins on fees per day. How can they be insolvent without being either criminal or hacked?
smoothie
Legendary
*
Offline Offline

Activity: 2128
Merit: 1018


LEALANA Monero Physical Silver Coins


View Profile
February 17, 2014, 05:44:05 PM
 #4400



1. Not opening withdrawals of BTC yet.

2. Haven't proven they have all of their customer funds.

3. "Supposedly" going to re-open withdrawal with new limits (BTC).

4. Not defined "limits" for BTC withdrawals (could be anything). <------- Prevents a bank run.

5. Claimed they will have more info by Thursday of this week (more delays as expected).

6. Still failing at running an exchange at world-class level.



Seriously they need to go away. Bitcoin doesn't need MTGOX and obviously MTGOX doesn't believe it needs to operate in the best interest of their customers. Anyone can deduce this simply by looking that their track record for the past 2 years.

███████████████████████████████████████

            ,╓p@@███████@╗╖,           
        ,p████████████████████N,       
      d█████████████████████████b     
    d██████████████████████████████æ   
  ,████²█████████████████████████████, 
 ,█████  ╙████████████████████╨  █████y
 ██████    `████████████████`    ██████
║██████       Ñ███████████`      ███████
███████         ╩██████Ñ         ███████
███████    ▐▄     ²██╩     a▌    ███████
╢██████    ▐▓█▄          ▄█▓▌    ███████
 ██████    ▐▓▓▓▓▌,     ▄█▓▓▓▌    ██████─
           ▐▓▓▓▓▓▓█,,▄▓▓▓▓▓▓▌          
           ▐▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▌          
    ▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓─  
     ²▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓╩    
        ▀▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▀       
           ²▀▀▓▓▓▓▓▓▓▓▓▓▓▓▀▀`          
                   ²²²                 
███████████████████████████████████████

. ★☆ WWW.LEALANA.COM        My PGP fingerprint is A764D833.                  History of Monero development Visualization ★☆ .
LEALANA  PHYSICAL MONERO COINS 999 FINE SILVER.
 
Pages: « 1 ... 170 171 172 173 174 175 176 177 178 179 180 181 182 183 184 185 186 187 188 189 190 191 192 193 194 195 196 197 198 199 200 201 202 203 204 205 206 207 208 209 210 211 212 213 214 215 216 217 218 219 [220] 221 222 223 224 225 226 227 228 229 230 231 232 233 234 235 236 237 238 239 240 241 242 243 244 245 246 247 248 249 250 251 252 253 254 255 256 257 258 259 260 261 262 263 264 265 266 267 268 269 270 ... 346 »
  Print  
 
Jump to:  

Sponsored by , a Bitcoin-accepting VPN.
Powered by MySQL Powered by PHP Powered by SMF 1.1.19 | SMF © 2006-2009, Simple Machines Valid XHTML 1.0! Valid CSS!