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Author Topic: MtGox withdrawal delays [Gathering]  (Read 877106 times)
cAPSLOCK
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February 24, 2014, 05:58:14 AM
 #4941

......And.......

The twitter feed has been vacuumed.  LOL

@MtGox hasn't tweeted yet.

https://twitter.com/MtGox
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There are several different types of Bitcoin clients. The most secure are full nodes like Bitcoin Core, but full nodes are more resource-heavy, and they must do a lengthy initial syncing process. As a result, lightweight clients with somewhat less security are commonly used.
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February 24, 2014, 06:03:36 AM
 #4942

......And.......

The twitter feed has been vacuumed.  LOL

@MtGox hasn't tweeted yet.

https://twitter.com/MtGox

i wonder if that means they want to start off on a clean slate....or if their attorneys advised them to remove the tweets?
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February 24, 2014, 06:18:27 AM
 #4943

Yes indeed folks.  Most of us here have at one time entrusted tens, hundreds, even thousands of thousands of dollars to a business who just showed they believe they can delete the internet. Smiley
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February 24, 2014, 07:15:17 AM
 #4944

Yes indeed folks.  Most of us here have at one time entrusted tens, hundreds, even thousands of thousands of dollars to a business who just showed they believe they can delete the internet. Smiley

it looks like one more evidence that they are under investigation and can't communicate to the outside world anymore.


As for me, a couple of days ago, I sold my BTC through bitcoinbuilder, I lost half the investment I put just a week before BTC withdraws were halted (yes I am one of those idiots who bought it at almost the highest price).
But at least, I have no longer any fiat/BTC at Gox. I hope in a few months the price will recover on all exchanges and then I can sell the BTC and recover my initial investment.

I hope whoever has still fiat/BTC at Gox can recover their investment soon - or at least assume the loss and get out now.
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February 24, 2014, 07:26:54 AM
 #4945

Damn, can't you guys just BUY Gox?

I have also pondered the possibility that another company might buy Mt. Gox, fill up their cash register, restore trust and go on to earn millions.

It is possible, and I would love it, but there are many counter-arguments.

It would be a huge bet on bitcoin, but bitcoin itself is risky. Some believe it will become a global currency, but there is also the risk that it slowly disappears into oblivion.

Mt. Gox might be insolvent and lacking many millions of dollars, so buying them could be expensive.

Their reputation is very badly damaged. It may be difficult or impossible to restore.

So let's hope that Mt. Gox can be rescued, but don't bet on it.
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February 24, 2014, 07:29:19 AM
 #4946

......And.......

The twitter feed has been vacuumed.  LOL
[…]

i wonder if that means they want to start off on a clean slate....or if their attorneys advised them to remove the tweets?

It could mean that the first lawsuit is hitting them.
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February 24, 2014, 10:28:16 AM
 #4947

......And.......

The twitter feed has been vacuumed.  LOL
[…]

i wonder if that means they want to start off on a clean slate....or if their attorneys advised them to remove the tweets?

It could mean that the first lawsuit is hitting them.
Not sure whether that's good or bad for us...
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February 24, 2014, 10:34:20 AM
 #4948

......And.......

The twitter feed has been vacuumed.  LOL
[…]

i wonder if that means they want to start off on a clean slate....or if their attorneys advised them to remove the tweets?

It could mean that the first lawsuit is hitting them.
Not sure whether that's good or bad for us...

If you still have money there and you are not part of the lawsuit, it's bad for you. Because the ones filling the lawsuit will have priority to get their money back (if they win), and then there might be nothing left. 

Overall, it is good for the market as it will create pressure on the other exchanges to become more professional.
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February 24, 2014, 10:52:02 AM
 #4949

I just had two JPY withdrawals, to a Japan account processed.

The requests were made on 3rd and 8th of Feb.

This was about the same lag, i experienced for two requests in Jan

money is still flowing, albeit slowly.

Saigō Takamori : ( 1828 – 1877) was one of the most influential samurai in Japanese history. He has been dubbed the last true samurai.
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February 24, 2014, 10:53:53 AM
 #4950

I have send my verification documents to MTGOX in 24. January
To day it has just veriffied

We are pleased to inform you that the identification documentation you have submitted has been reviewed, and your account has been upgraded to "Verified" status.
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February 24, 2014, 12:57:44 PM
 #4951

I wonder if we'll see a formal withdrawal of claims that the Bitcoin protocol is at fault.
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February 24, 2014, 01:20:17 PM
 #4952

http://www.reddit.com/r/Bitcoin/comments/1ysaz2/sarahcoinbit_from_mtgox_support_says_there_is_no/
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February 24, 2014, 01:46:54 PM
 #4953

Mt Gox support ~bagdad bob
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February 24, 2014, 01:55:07 PM
 #4954

28 days and still nothing on my withdrawal Smiley

just and update from my side ... Smiley

if anything changes will post of course....
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February 24, 2014, 01:57:40 PM
 #4955

......And.......

The twitter feed has been vacuumed.  LOL
[…]

i wonder if that means they want to start off on a clean slate....or if their attorneys advised them to remove the tweets?

It could mean that the first lawsuit is hitting them.
Not sure whether that's good or bad for us...

If you still have money there and you are not part of the lawsuit, it's bad for you. Because the ones filling the lawsuit will have priority to get their money back (if they win), and then there might be nothing left. 

Overall, it is good for the market as it will create pressure on the other exchanges to become more professional.

It is probably illegal to pay out to one party to the detriment of others if you are technically bankrupt, i.e. if you have less value on hand than you owe. The normal procedure then is to declare bankruptcy. Then all remaining values are shared in proportion to the values owed.

But laws can be overly complex and lawsuits unpredictable, so you may end up being right to some extent.
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February 24, 2014, 02:07:36 PM
 #4956

Karpeles resigning and the reset Twitter accounts is because Karpeles will announce this week that he will no longer be the CEO of MtGox. There will be a professional CEO at the head of Gox who will (try to) make MtGox again a succesfull exchange.

I have no insider info, just my guess.
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February 24, 2014, 02:08:57 PM
 #4957

28 days and still nothing on my withdrawal Smiley

just and update from my side ... Smiley

if anything changes will post of course....

Expect to wait 6.5 weeks for SEPA withdrawal
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February 24, 2014, 02:11:36 PM
 #4958

Karpeles resigning and the reset Twitter accounts is because Karpeles will announce this week that he will no longer be the CEO of MtGox. There will be a professional CEO at the head of Gox who will (try to) make MtGox again a succesfull exchange.

I have no insider info, just my guess.

I'll just quote what I put in another thread as the Twitter thing could just be staff re-arranging their account.

A reddit user thinks there could be a more mundane reason for Twitter:

It was linked automatically to a service desk and the user contacted Gox about it - so he thinks they are just setting up their Twitter differently.

http://www.reddit.com/r/Bitcoin/comments/1yrqpm/mtgox_deletes_all_tweets_from_their_twitter_feed/?sort=new

EDIT look for:

[–]Delerium69 1 point 1 hour ago
Actually i mentioned this to the support management last week about it not being fit for purpose. Looks like they've listened.
Our service desk system was linked directly to twitter meaning that anytime anyone tweeted us, it created a ticket and was responded to via twitter when we resolve the cases.

                                                                               
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FrictionlessCoin
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February 24, 2014, 02:12:27 PM
 #4959


It is probably illegal to pay out to one party to the detriment of others if you are technically bankrupt, i.e. if you have less value on hand than you owe.

Wrong.  There is always some seniority ranking on who gets paid and who does not is the case of Bankruptcy.

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February 24, 2014, 02:14:09 PM
 #4960

Karpeles resigning and the reset Twitter accounts is because Karpeles will announce this week that he will no longer be the CEO of MtGox. There will be a professional CEO at the head of Gox who will (try to) make MtGox again a succesfull exchange.

I have no insider info, just my guess.

Wishful thinking. I don't know what will happen but this appears unlikely to me. I can see three scenarios:

  • Hard bankruptcy, remaining fiat and bitcoins are shared out in proportion after losses are deducted
  • Takeover by another company with deep coffers (not too likely, in my view, because Mt. Gox does not look very attractive)
  • Mt. Gox wriggles through and comes out solvent, perhaps barely solvent, and continues to pay out slowly (also wishful thinking, but not entirely impossible).

The loss of reputation would be difficult to reverse, so I find it hard to see any rosy future for Mt. Gox.
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