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Author Topic: MtGox withdrawal delays [Gathering]  (Read 855550 times)
Rampion
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August 13, 2013, 01:38:55 PM
 #601

No more GOX for me!

Just a quick note to all the MtGox detractors out there :

Whatever happens first to MtGox will surely happen to the rest of the exchanges at some point in the future.

Any exchange that grows large enough to be useful will experience all sorts of problems - just like MtGox.

This applies to things like trade engine lag as well as banking problems. Just try using cryptsy when it's really busy - it grinds to a halt.

This.

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August 13, 2013, 02:23:11 PM
 #602

ok so the obvious solution is that  Gox should do a 1 per day transfer to bitstamp and btce each day to stabilize the variance in the price.... or some kind of clearing house needs to be set up to handle this using debt instruments (aka ripple?? lmao...)

anyway if you guys thingk we are the only ones having problems....here is a fun article  http://www.forbes.com/sites/timworstall/2013/08/08/hsbcs-1-9-billion-money-laundering-fine-and-the-somalian-cost-of-bank-regulation/

and look at what has been happening to the velocity of M2 http://research.stlouisfed.org/fred2/series/M2V has never been this low since they have been recording....

if this trend continues, no money will be changing hands by 2050...

i feel like we are seeing the collapse of the USSR in slo-mo





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August 13, 2013, 03:33:27 PM
 #603

This looks like a the contradiction between what ivanb and MagicalTux say:
SEPA test withdraw of 101€ from 05.08.2013 arrived today!
Larger EU withdrwas of 700 - 1000 € didnt arrive after 5 weeks of waiting, so I canceld it.
Quote
14:19 <@MagicalTux> those wires are processed in received order, nothing else
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August 13, 2013, 03:41:50 PM
 #604

Mark's explanation makes sense. Thanks.

This is much much better than saying nothing about withdrawals in section of press release titled "Deposits and Withdrawals".
I agree, it was missing. Being open about things is much better. Thanks.
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August 13, 2013, 03:46:24 PM
 #605

No more GOX for me!

Just a quick note to all the MtGox detractors out there :

Whatever happens first to MtGox will surely happen to the rest of the exchanges at some point in the future.

Any exchange that grows large enough to be useful will experience all sorts of problems - just like MtGox.

This applies to things like trade engine lag as well as banking problems. Just try using cryptsy when it's really busy - it grinds to a halt.
But given these limitations that most banks impose to  bitcoin exchanges, how can forex traders overcome them?

According to a recent press release, TheRockTrading is acquiring a forex license and completely change their bussiness model. Perhaps this is the way to go for most exchanges...


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ANX_Service
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August 13, 2013, 03:47:39 PM
 #606

If you're looking for an alternative, ANX.HK processes bank wire deposits and withdrawals on a weekday daily basis.  It's also commission free trading until the end of August.  

Grin Grin Grin Daily Wire Processing for Withdrawals and Deposits at  ANX.HK  Grin Grin Grin  
 [Official Launch Thread]  https://bitcointalk.org/index.php?topic=262091.0  Fast affordable wires sent globally every day AUD, CAD, CHF, EUR, GBP, HKD, JPY, NZD, SGD and USD
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August 13, 2013, 04:06:38 PM
 #607

Perhaps wires could be sent through a third party like ukforex.co.uk

This is a company that facilitates wire transfers via it's own money reserves often giving better exchange rates than you could otherwise expect.

Perhaps they would be interested in receiving one large wire from MtGox and then splitting it up into many smaller wires for onward payment. Something like this would be worth investigating.

A fully licensed third party partner like this could help to alleviate the current problems until the banking situation is fixed.

http://www.ukforex.co.uk/about-us/legal

A company I do some work for uses the above company to send tens of thousands of USD between the US and UK every month and have been using them since last year sometime.

Wire transfers are their business, someone at MtGox should check them out.
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August 13, 2013, 04:15:39 PM
 #608

Let me just go ahead and rip this ridiculous excuse for an answer. 

Here are some new IRC quotes for you, reordered for readability:
Code:
13:43 < sturles> SEPA has been delayed for as long as I can remember.  I wish
                 MtGox had more SEPA banks, but they generally don't like
                 Bitcoin buisnesses.  Perhaps the one in Slovenia which
                 Bitstamp is using could be worth a try?  Could be troubled
                 with the same issue, of course.
13:48 <@MagicalTux> sturles, we already applied to that one
13:53 < sturles> MagicalTux: Great!  Lower SEPA delays would do wonders!  In
                 fact all good news regarding delays would be wonderful at this
                 time..
13:54 <@MagicalTux> sturles, we've been reducing SEPA delay day by day
13:54 <@MagicalTux> things are much better than one month ago
13:54 < sturles> Have your limits increased?
13:54 <@MagicalTux> nope
This is great news!
That is not great news, sounds like the Slovenia bank rejected their application.  Also, their limits have not increased.  This is bad news.


Code:
13:50 < samson_> MagicalTux: Would you say we're facing a banking embargo on
                 the entire Bitcoin business ?
13:51 <@MagicalTux> samson_, things are not easy, but it's far from what you
                    could qualify as "embargo"
13:51 < samson_> ok thanks
Difficulties (we know that from many countries, e.g. UK), but no organized embargo.
I don't think he is going to go "yep, no bank wants to do business with us" (for some lolz, please refer to previous answer in section above).  He skirts around the question by directly referring to "embargo" rather than the difficulties they are facing, which he has confirmed prior<@MagicalTux> cyro432: not much we can do right now because of US govt"


Code:
13:58 < sturles> Btw, there are roumous now that USD withdrawals are somehow
                 blocked entirely.  Is there any truth to that?  Some people
                 intepret this as "US government are blocking all USD
                 withdrawals": <@MagicalTux> cyro432: not much we can do right
                 now because of US govt
13:59 <@MagicalTux> sturles, "blocked" is not the correct word
14:00 < sturles> What is the exact problem then?  You can see here how the
                 speculations go:
https://bitcointalk.org/index.php?topic=179586.msg2918767#msg2918767
14:01 <@MagicalTux> sturles, we are not allowed to talk about the exact problem
                    (doing so would only make things worse)
That's no explanation of the problem, but explains the lack of news.  For other currencies:
I don't see how this answer doesn't scare the hell out of you.  And you brush it off like its an acceptable reply.  "Not allowed to talk about the exact problem" that is by far the worst excuse for lack of transparency.   


Code:
13:58 < SleepersTide> MagicalTux: Are Australian bank transfer withdrawals
                      being processed normally?
13:58 < SleepersTide> (also how long do those take?)
14:00 <@MagicalTux> SleepersTide, right now all SWIFT transfers are processed
                    up to the limits of our current bank (up to 10 transfers
                    per day - we should be able to increase that as soon as we
                    have more banking partners ready - it's taking longer than
                    expected because of the time required by the people at the
                    bank to understand our business)
14:10 < sturles> MagicalTux: Why only 10 SWIFT transfers per day?  Is that
                 commonplace for customers in your bank?
14:12 <@MagicalTux> sturles, most companies in Japan will do one, maybe two
                    SWIFT transfers a month to providers overseas (actually
                    most will do zero)14:14 < Delerium> when you say transfers per day you mean 10 swift runs
                  (containing LOADS of transfers within) or literally just 10
                  transfers
14:16 <@MagicalTux> Delerium, literal
14:17 <@MagicalTux> when we were in the second largest bank in Japan, we
                    represented more than half of all the volume of SWIFT
                    processed by that bank (almost overloading their systems a
                    couple of times)
With only 10 withdrawals per day in all other currencies than JPY and EUR, it is going to take time.  And he confirms again that MtGox are in fact overloading their bank.  The discussion is still going on, btw.  About ordering and more about transparency:
"Its taking longer than expected... [for] the people at the bank to understand our business."  I just don't know what to say at this point. I mean to expect me to believe that it takes 2-3 months for very intelligent individuals at a bank to understand how Bitcoin works is difficult.  And that they overloaded the second largest bank in Japan is extremely hard to believe. 

 
Code:
14:17 < rfish> MagicalTux:  I think you owe it to customers to make the numbers
               of swift transfers you are doing per day more public and explain
               the reasons
14:18 <@MagicalTux> rfish, rather than spending time on this, fixing it is
                    likely going to bring more on the long term
14:18 < rfish> MagicalTux: And you should be fair about which you do, like
               wires greater than X amount, in the order they are received
14:19 <@MagicalTux> those wires are processed in received order, nothing else

"<@MagicalTux> rather than spending time on this, fixing it is likely going to bring more on the long term"

Ok, well in the 30 seconds you spend reviewing your press releases, maybe you should insert some truth somewhere. This is a different statement than before "<@MagicalTux> Not allowed to talk about the exact problem" instead he shifts the blame to being "too busy."

"<@MagicalTux> those wires are processed in received order, nothing else"

This is in direct contradiction to what MagicalTux posted a few weeks ago where he said that "5 digit or more" wires were taking priority.  I'm done. No further explanation necessary.  Let everyone decide for themselves whether or not they believe any word that comes out of Gox's mouth.   

July 24, 2013:
[14:45] <@MagicalTux> right now we're giving priority to larger transfers
[14:45] <racerx> please define "larger"
[14:46] <@MagicalTux> 5 digits or more

https://bitcointalk.org/index.php?topic=179586.340

For some more hilarious content please see the rest of the conversation:

[14:51] <@MagicalTux> [22:49:57] <nutcase> and only wire transfers are working for US people right MagicalTux? <- at this point, yes. We are working on US domestic solutions however
[14:52] <nutcase> okay cool thanks MagicalTux
[14:52] <racerx> so wires to the rest of the world are just on hold until further notice?
[14:53] <nutcase> the wires to the rest of the world never got stopped afaik
[14:54] <@MagicalTux> it's not on hold, just processing slowly
[14:54] <racerx> nutcase: that was the communication in the press release, but gox support are using the USD hiatus as the reason why my wires are pending with no ETA
[14:54] <@MagicalTux> we're working with our banking partners to increase the throughput of outgoing wires
[15:00] <racerx> MagicalTux: I apprecaite your input but I hope you can understand the concerns we/I have. So many reports of outgoing wires (bitcointalk.org) not being transfered in any logical order and everyone is being strung along by support
[15:01] <EPiSKiNG-> MagicalTux = BEST
[15:01] <EPiSKiNG-> MtGox = BEST!

And EPiSKiNG is the only one who posted a USD withdraw for the bounty... hmm.

https://bitcointalk.org/index.php?topic=251895.160
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August 13, 2013, 05:03:21 PM
 #609

I do not have a MTgox account, however, for what its worth since Ive known about MTgox, which was around the time of the 32-2 first crash, Mr. Karpeles has never lied about anything that was ongoing or not ongoing with his company. He simply has to much on the line to lie and get caught.

MTgox having banking troubles is both scary and good considering that the workload is now being diversified to other exchanges, simply put most of the FUD is created by users. I also bet that most of the people complaining are probably the smaller withdraws (under 5,000 any currency).

if you dont want to wait simply do not use MTgox but Mr. Karpeles runs an honest operation and has always done the best that he could with the situations he is handed,
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August 13, 2013, 05:09:12 PM
 #610

I got scared a bit when I read that people's bitcoin withdrawals were not going through so I decided to withdraw my remaining bitcoins from Mt.Gox, I did it in a few separate transactions in case withdrawing the whole lot would trigger an account blocking and a request for submitting documents I do not want to submit. Fortunately all ended well and I got my BTC.

MTgox having banking troubles is both scary and good considering that the workload is now being diversified to other exchanges, simply put most of the FUD is created by users. I also bet that most of the people complaining are probably the smaller withdraws (under 5,000 any currency).

It was mentioned somewhere earlier that five figure withdrawals are given priority.
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August 13, 2013, 05:32:29 PM
 #611

This looks like a the contradiction between what ivanb and MagicalTux say:
SEPA test withdraw of 101€ from 05.08.2013 arrived today!
Larger EU withdrwas of 700 - 1000 € didnt arrive after 5 weeks of waiting, so I canceld it.
Quote
14:19 <@MagicalTux> those wires are processed in received order, nothing else
You quoted Mark out of context.  SEPA != SWIFT  As I understand it SWIFT transfers are limited by number of transfers, while SEPA is limited by a daily amount.  It only makes sense then to fill the daily SEPA quota with small transfers to maximize their throughput.

Sjå https://bitmynt.no for veksling av bitcoin mot norske kroner.  Trygt, billig, raskt og enkelt sidan 2010.
I buy with EUR and other currencies at a fair market price when you want to sell.  See http://bitmynt.no/eurprice.pl
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August 13, 2013, 05:56:50 PM
 #612

My last Mtgox withdrawal arrived today :-)
2013/05/04  745e -> received on 2013/05/07 (3 days)
2013/05/05 1000e -> received on 2013/06/03 (29 days)
2013/05/06 1000e -> received on 2013/07/23 (78 days)
2013/05/07 1200e -> received on 2013/08/01 (85 days)
2013/05/15 2000e -> received on 2013/08/13 (90 days)
Even if these delays are terribles, in my point of view Mtgox is OK
they doesn't lost my money like Mybitcoin did (around 100btc lost).
My wish now is to have the same happy end with bitcoin-24 !
I wish good luck to everyone who wait for withdraw.

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August 13, 2013, 06:09:26 PM
 #613

Anymore here experiencing such delay? Makes me think on staying away if this trend goes north.
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August 13, 2013, 06:20:41 PM
 #614

Here are some new IRC quotes for you, reordered for readability:
Code:
13:43 < sturles> SEPA has been delayed for as long as I can remember.  I wish
                 MtGox had more SEPA banks, but they generally don't like
                 Bitcoin buisnesses.  Perhaps the one in Slovenia which
                 Bitstamp is using could be worth a try?  Could be troubled
                 with the same issue, of course.
13:48 <@MagicalTux> sturles, we already applied to that one
13:53 < sturles> MagicalTux: Great!  Lower SEPA delays would do wonders!  In
                 fact all good news regarding delays would be wonderful at this
                 time..
13:54 <@MagicalTux> sturles, we've been reducing SEPA delay day by day
13:54 <@MagicalTux> things are much better than one month ago
13:54 < sturles> Have your limits increased?
13:54 <@MagicalTux> nope
This is great news!
That is not great news, sounds like the Slovenia bank rejected their application.  Also, their limits have not increased.  This is bad news.
Do you have a source for your claim that the bank in Slovenia rejected their application, or are you making that up?

Reducing SEPA delay is very good news.  SEPA withdrawals have been delayed for weeks and months for as long as I can remember.  The forum threads about SEPA delays are years old.  SWIFT used to be the solution (at a higher fee), and when that ceased to be a solution, the matters got even worse for a while, and are now finally improving.

Quote

Code:
13:50 < samson_> MagicalTux: Would you say we're facing a banking embargo on
                 the entire Bitcoin business ?
13:51 <@MagicalTux> samson_, things are not easy, but it's far from what you
                    could qualify as "embargo"
13:51 < samson_> ok thanks
Difficulties (we know that from many countries, e.g. UK), but no organized embargo.
I don't think he is going to go "yep, no bank wants to do business with us" (for some lolz, please refer to previous answer in section above).  He skirts around the question by directly referring to "embargo" rather than the difficulties they are facing, which he has confirmed prior<@MagicalTux> cyro432: not much we can do right now because of US govt"
If you lift the rock you live under and look back, you may notice that 40% of all Bitcoin exchanges have either been forced to close or have had serious problems due to banks not wanting them as customers any more.  Banking and Bitcoin have never been good friends. Bitcoin exchanges in Europe are limited to very few banks which are not hostile, and those banks are in countries far from the exchanges.  This should tell you something.
Quote

Code:
13:58 < sturles> Btw, there are roumous now that USD withdrawals are somehow
                 blocked entirely.  Is there any truth to that?  Some people
                 intepret this as "US government are blocking all USD
                 withdrawals": <@MagicalTux> cyro432: not much we can do right
                 now because of US govt
13:59 <@MagicalTux> sturles, "blocked" is not the correct word
14:00 < sturles> What is the exact problem then?  You can see here how the
                 speculations go:
https://bitcointalk.org/index.php?topic=179586.msg2918767#msg2918767
14:01 <@MagicalTux> sturles, we are not allowed to talk about the exact problem
                    (doing so would only make things worse)
That's no explanation of the problem, but explains the lack of news.  For other currencies:
I don't see how this answer doesn't scare the hell out of you.  And you brush it off like its an acceptable reply.  "Not allowed to talk about the exact problem" that is by far the worst excuse for lack of transparency.   
The USSA are issuing "National Security Letters" by the truckload these days – everybody has at least one – and secret laws, regulations, courts and concentration camps make sure we don't want to talk about it to each other.  This isn't news.  When dealing with the USSA we are not allowed to speak our own opinion.
Quote

Code:
13:58 < SleepersTide> MagicalTux: Are Australian bank transfer withdrawals
                      being processed normally?
13:58 < SleepersTide> (also how long do those take?)
14:00 <@MagicalTux> SleepersTide, right now all SWIFT transfers are processed
                    up to the limits of our current bank (up to 10 transfers
                    per day - we should be able to increase that as soon as we
                    have more banking partners ready - it's taking longer than
                    expected because of the time required by the people at the
                    bank to understand our business)
14:10 < sturles> MagicalTux: Why only 10 SWIFT transfers per day?  Is that
                 commonplace for customers in your bank?
14:12 <@MagicalTux> sturles, most companies in Japan will do one, maybe two
                    SWIFT transfers a month to providers overseas (actually
                    most will do zero)14:14 < Delerium> when you say transfers per day you mean 10 swift runs
                  (containing LOADS of transfers within) or literally just 10
                  transfers
14:16 <@MagicalTux> Delerium, literal
14:17 <@MagicalTux> when we were in the second largest bank in Japan, we
                    represented more than half of all the volume of SWIFT
                    processed by that bank (almost overloading their systems a
                    couple of times)
With only 10 withdrawals per day in all other currencies than JPY and EUR, it is going to take time.  And he confirms again that MtGox are in fact overloading their bank.  The discussion is still going on, btw.  About ordering and more about transparency:
"Its taking longer than expected... [for] the people at the bank to understand our business."  I just don't know what to say at this point. I mean to expect me to believe that it takes 2-3 months for very intelligent individuals at a bank to understand how Bitcoin works is difficult.  And that they overloaded the second largest bank in Japan is extremely hard to believe. 
See previous note about exchanges closing or getting in serious trouble due to banking trouble.  Are Barclays still sitting on Intersango's GBP?  It is vitally important that the banks understand what MtGox are doing.  Otherwise we'll just end up with even more trouble and locked funds.
Quote
 
Code:
14:17 < rfish> MagicalTux:  I think you owe it to customers to make the numbers
               of swift transfers you are doing per day more public and explain
               the reasons
14:18 <@MagicalTux> rfish, rather than spending time on this, fixing it is
                    likely going to bring more on the long term
14:18 < rfish> MagicalTux: And you should be fair about which you do, like
               wires greater than X amount, in the order they are received
14:19 <@MagicalTux> those wires are processed in received order, nothing else
"<@MagicalTux> rather than spending time on this, fixing it is likely going to bring more on the long term"

Ok, well in the 30 seconds you spend reviewing your press releases, maybe you should insert some truth somewhere. This is a different statement than before "<@MagicalTux> Not allowed to talk about the exact problem" instead he shifts the blame to being "too busy."
I understand that the SWIFT limit is not exactly the same as their USD problem, but this may be a misunderstanding.  At least he explains how they are working to solve their problem with SWIFT transfer limits.  I agree that fixing the problem is more important than talking about it.
Quote
"<@MagicalTux> those wires are processed in received order, nothing else"

This is in direct contradiction to what MagicalTux posted a few weeks ago where he said that "5 digit or more" wires were taking priority.  I'm done. No further explanation necessary.  Let everyone decide for themselves whether or not they believe any word that comes out of Gox's mouth.   

July 24, 2013:
[14:45] <@MagicalTux> right now we're giving priority to larger transfers
[14:45] <racerx> please define "larger"
[14:46] <@MagicalTux> 5 digits or more
This has obviously changed.  Perhaps they have listened to all the protests.  I don't know.   At 10 SWIFT transfers a day the delays will obviously be endless unless they focus on solving the problem instead of the exact ordering of the queue.

Sjå https://bitmynt.no for veksling av bitcoin mot norske kroner.  Trygt, billig, raskt og enkelt sidan 2010.
I buy with EUR and other currencies at a fair market price when you want to sell.  See http://bitmynt.no/eurprice.pl
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August 13, 2013, 07:34:51 PM
 #615

Quote
At 10 SWIFT transfers a day the delays will obviously be endless.
Yes. That's very convenient for Mt. Gox if the suckers let them get away with it.

Mt. Gox has always had anti-withdrawal policies. Their FAQ says there are no limits on deposits, but there are both rate and amount limits on withdrawals.  That's always been suspicious.

Assuming this isn't another fake excuse from Mt. Gox (given their track record, that's a strong possibility) they need a competent CFO. They either have no clue about cash management, or they like having excuses for not paying.

They're still in default on their obligations. It doesn't matter why they can't pay, only that they didn't. There are other ways they could make payments. They could write checks and send them by FedEx, for example.
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August 13, 2013, 07:53:05 PM
 #616

Quote
At 10 SWIFT transfers a day the delays will obviously be endless.
Yes. That's very convenient for Mt. Gox if the suckers let them get away with it.

Mt. Gox has always had anti-withdrawal policies. Their FAQ says there are no limits on deposits, but there are both rate and amount limits on withdrawals.  That's always been suspicious.
I know.  Laws against money laundering make a lot of trouble for their customers.  But you are attacking the wrong people for it.  You should attack the government instead.  And their bank regarding the limit of SWIFT transfers per day.  Fortunately MtGox are working with other banks to solve this particular problem, and the SEPA queue is already getting shorter.  To raise the amount limits beyond what the anti money laundering laws permit, you have to go elsewhere, however.

Assuming this isn't another fake excuse from Mt. Gox (given their track record, that's a strong possibility) they need a competent CFO. They either have no clue about cash management, or they like having excuses for not paying.
MtGox's track record is better than most other exchanges.

Quote
They're still in default on their obligations. It doesn't matter why they can't pay, only that they didn't. There are other ways they could make payments. They could write checks and send them by FedEx, for example.
I haven't seen a check in my country since the early eighties.  I got a check for 20 USD from an US company in 1998, but it was only valid in the USA.  Travelling to Japan to cash out a check wouldn't be very attractive either, if they still have checks in Japan.  Are checks still used anywhere?

Edit: I would actually be very pissed if any exchange sent me a check which I would have to travel around half the world to redeem, and call that a payment.  I didn't do more business with the US company either.  Scammers.

Sjå https://bitmynt.no for veksling av bitcoin mot norske kroner.  Trygt, billig, raskt og enkelt sidan 2010.
I buy with EUR and other currencies at a fair market price when you want to sell.  See http://bitmynt.no/eurprice.pl
Warning: "Bitcoin" XT, Classic, Unlimited and the likes are scams. Don't use them, and don't listen to their shills.
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August 13, 2013, 08:30:42 PM
 #617

I know.  Laws against money laundering make a lot of trouble for their customers.  But you are attacking the wrong people for it.  You should attack the government instead.  And their bank regarding the limit of SWIFT transfers per day.  Fortunately MtGox are working with other banks to solve this particular problem, and the SEPA queue is already getting shorter.  To raise the amount limits beyond what the anti money laundering laws permit, you have to go elsewhere, however.
There are no number of transaction limits associated with anti-money-laundering laws. There are reporting requirements and a blacklist. There are prohibitions against making many little transactions below the reporting threshold ("smurfing").

Even Mt. Gox isn't claiming they have limits imposed by anti-money-laundering laws.  (Because that can be checked.)

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August 13, 2013, 08:32:19 PM
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I haven't seen a check in my country since the early eighties.  I got a check for 20 USD from an US company in 1998, but it was only valid in the USA.  Travelling to Japan to cash out a check wouldn't be very attractive either, if they still have checks in Japan.  Are checks still used anywhere?

They are still very common in France, at least as of 2009 when I last lived there.

But in Poland for example (where I live now) checks are not used since mid-1990s.
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August 13, 2013, 09:14:02 PM
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I know.  Laws against money laundering make a lot of trouble for their customers.  But you are attacking the wrong people for it.  You should attack the government instead.  And their bank regarding the limit of SWIFT transfers per day.  Fortunately MtGox are working with other banks to solve this particular problem, and the SEPA queue is already getting shorter.  To raise the amount limits beyond what the anti money laundering laws permit, you have to go elsewhere, however.
There are no number of transaction limits associated with anti-money-laundering laws.
Read again.
Quote
There are reporting requirements and a blacklist. There are prohibitions against making many little transactions below the reporting threshold ("smurfing").

Even Mt. Gox isn't claiming they have limits imposed by anti-money-laundering laws.  (Because that can be checked.)
Please tell us more about the laws and regulations against money laundering in Japan.  What are the limits and what is MtGox required to report?  When are they required to be more careful?

Sjå https://bitmynt.no for veksling av bitcoin mot norske kroner.  Trygt, billig, raskt og enkelt sidan 2010.
I buy with EUR and other currencies at a fair market price when you want to sell.  See http://bitmynt.no/eurprice.pl
Warning: "Bitcoin" XT, Classic, Unlimited and the likes are scams. Don't use them, and don't listen to their shills.
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August 13, 2013, 09:48:34 PM
 #620

CONFIRMATION TIME!

I was on at #mtgox on irc.freenode.org when identified user MagicalTux, CEO of MtGox, gave the statements in sturles post https://bitcointalk.org/index.php?topic=179586.msg2924021#msg2924021 and I can confirm that the quotes are accurate and exactly what was said.

It would be great if one or two other people who also have the conversation in their scrollback buffer can also confirm this.

13:48 <@MagicalTux> sturles, we already applied to that one
13:51 <@MagicalTux> samson_, things are not easy, but it's far from what you could qualify as "embargo"
13:54 <@MagicalTux> sturles, we've been reducing SEPA delay day by day
13:54 <@MagicalTux> things are much better than one month ago
13:54 <@MagicalTux> nope
13:59 <@MagicalTux> sturles, "blocked" is not the correct word
14:00 <@MagicalTux> SleepersTide, right now all SWIFT transfers are processed up to the limits of our current bank (up to 10 transfers per day - we should be able to increase that as soon as we have more banking partners ready - it's taking longer than expected because of the time required by the people at the bank to understand our business)
14:01 <@MagicalTux> sturles, we are not allowed to talk about the exact problem (doing so would only make things worse)
14:12 <@MagicalTux> sturles, most companies in Japan will do one, maybe two SWIFT transfers a month to providers overseas (actually most will do zero)
14:16 <@MagicalTux> Delerium, literal
14:17 <@MagicalTux> when we were in the second largest bank in Japan, we represented more than half of all the volume of SWIFT processed by that bank (almost overloading their systems a couple of times)
14:18 <@MagicalTux> rfish, rather than spending time on this, fixing it is likely going to bring more on the long term
14:19 <@MagicalTux> those wires are processed in received order, nothing else
14:25 <@MagicalTux> publishing that would be against our ToS
14:26 <@MagicalTux> (specifically privacy policies)

^^ see sturles post for full conversation, just confirming MagicalTux's statements.

..if you're wondering why we should confirm this is true: various "news outlets" are now watching and typing up stories

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