lukcoin
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May 07, 2013, 07:07:39 PM |
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Still waiting for a SEPA transfer from 2013-04-09... This is ridiculous, almost always the same standard replies. Hopefully my last more angry mail will trigger some action  |
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kneim
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May 07, 2013, 08:42:50 PM |
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Think a little more about it. You have a trading platform. Someone gives you 1000 Euro, anotherone 10 BTC. No trade yet.
Now the exchange rate is rising from 100 Euro/BTC to 500 Euro/BTC. Now a trade happens, 2 BTC for 500 Euro each.
There is also 1000 Euro and 10 BTC on your trading platform, as before, nothing really changed for the trading platform (but for the fee).
Offers are possible only for 1000 Euro. Your failure is the 2500 Euro, which does not exist for changing.
Correct me if I'm wrong but does that not just make Mt Gox a Ponzi scheme? Because they have to keep relying on new customers to buy Bitcoins to pay customers who are cashing out? ... No, has nothing to do with a Ponzi scheme. And yes, they relay on new customers. Think about having a trading platform, and one customer gives you 10 BTC. He now can offer this BTC for any price, 500 Euro/BTC for example. This will not matter as long as you do not find another customer, which gives you Euros. Without Euros no trade. Two customers have an agreement about the price of one bitcoin, and if they agree they swap the currencies. This has no influence on the assets of the exchange platform, they earn the fees only. And they have to keep the deposits of the customers save and separated from their own assets. |
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Paul89273
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May 07, 2013, 11:38:29 PM |
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No, has nothing to do with a Ponzi scheme. And yes, they relay on new customers.
Think about having a trading platform, and one customer gives you 10 BTC. He now can offer this BTC for any price, 500 Euro/BTC for example.
This will not matter as long as you do not find another customer, which gives you Euros. Without Euros no trade.
Two customers have an agreement about the price of one bitcoin, and if they agree they swap the currencies. This has no influence on the assets of the exchange platform, they earn the fees only. And they have to keep the deposits of the customers save and separated from their own assets.
Thanks for the clarification Kneim |
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Spaceman_Spiff
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₪``Campaign Manager´´₪
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May 08, 2013, 01:35:20 AM |
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Still waiting for a SEPA transfer from 2013-04-09... This is ridiculous, almost always the same standard replies. Hopefully my last more angry mail will trigger some action Also found out their SEPA limit is only 60,000 euros! Very similar situation here, post by DDreez makes me hopeful I'll see some of my money in the next couple of days... |
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Timo Y
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bitcoin - the aerogel of money
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May 08, 2013, 01:00:11 PM
Last edit: May 08, 2013, 01:13:05 PM by Timo Y |
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I'm still waiting. SEPA withdrawal on 2013-04-10.
Same reply from support about queued withdrawals.
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kneim
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Activity: 1666
Merit: 1000
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May 08, 2013, 01:40:31 PM |
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I'm also waiting on my withdrawel, that I triggered on 19. of April. Typically it takes about one week.
Perhaps many people have burned by the last bubble, and want to have the rest of their money back. In this case a 60000 EUR limit will delay the execution of course.
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kneim
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May 09, 2013, 10:50:35 AM |
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I'm also waiting on my withdrawel, that I triggered on 19. of April. Typically it takes about one week.
Perhaps many people have burned by the last bubble, and want to have the rest of their money back. In this case a 60000 EUR limit will delay the execution of course.
My money has reached my banking account now, so it works for me, slowly. |
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sbrzol
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May 09, 2013, 10:56:46 AM |
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how many euros ? 1000? , yesterday i cancelled mine, it was 10.000 , sepa April withdrawal 09
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AMuppInTime
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Activity: 290
Merit: 250
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May 11, 2013, 01:18:29 AM |
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That's worrisome, but I'm sure it's a legal/protocol issue - to "sell" Bitcoins one need to have funded their mtGox Account with that many USD....
So there is as much cash as there are buying in the game right now - no need to freak out.
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Rampion
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May 12, 2013, 10:49:38 AM |
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That's worrisome, but I'm sure it's a legal/protocol issue - to "sell" Bitcoins one need to have funded their mtGox Account with that many USD....
So there is as much cash as there are buying in the game right now - no need to freak out.
What are you talking about? You can sell bitcoins with no fiat on the exchange. |
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TimJBenham
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May 12, 2013, 11:30:10 AM |
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That's worrisome, but I'm sure it's a legal/protocol issue - to "sell" Bitcoins one need to have funded their mtGox Account with that many USD....
So there is as much cash as there are buying in the game right now - no need to freak out.
What are you talking about? You can sell bitcoins with no fiat on the exchange. True but most coins sold at gox were probably bought there. They do claim to have BIGNUM% of the exchange market. |
You are a warlord in the outskirts of the known world struggling to establish a kingdom in the wild lands.
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AMuppInTime
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May 12, 2013, 06:29:13 PM |
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That's worrisome, but I'm sure it's a legal/protocol issue - to "sell" Bitcoins one need to have funded their mtGox Account with that many USD....
So there is as much cash as there are buying in the game right now - no need to freak out.
What are you talking about? You can sell bitcoins with no fiat on the exchange. You cannot "buy" Bitcoins without putting in USD: Whoever bought the coins you "Sold" had to make a transfer to MtGox. The exchange is just a meeting place, there is no risk of there not being enough cash for the transactions. |
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sbrzol
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May 13, 2013, 08:23:04 AM |
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all exchanges s.....x
mtgox withdrawal cancelled after 28 days, 10.000 EUR
bitcoin24 locked account with 10.000 EUR, more than 1 month
bitstamp i opened a new $ bank account, bitstamp converted my withdrawal to EUR, so my bank will convert it back to USD, fantastic
f..ck u all
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lukcoin
Newbie
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Activity: 8
Merit: 0
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May 15, 2013, 11:26:40 AM |
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Money arrived yesterday, still a very long wait....
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GreekGeek
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May 15, 2013, 12:51:21 PM |
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~1000 Euros SEPA withdrawal to Greece
on 2013/04/16
nothing yet
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retirement fund : 1NBM5DM317RfWsHXKUfPUDtba2scavpPoB
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2weiX
Legendary
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Activity: 2058
Merit: 1005
this space intentionally left blank
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May 15, 2013, 12:55:02 PM |
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8. Apr. -- 12.500,00 €
9. Apr. -- 5.880,00 €
9. Apr. -- 7.850,00 €
nothing yet.
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MPOE-PR
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May 15, 2013, 01:42:43 PM |
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8. Apr. -- 12.500,00 €
9. Apr. -- 5.880,00 €
9. Apr. -- 7.850,00 €
nothing yet.
Ouch. all exchanges s.....x
mtgox withdrawal cancelled after 28 days, 10.000 EUR
bitcoin24 locked account with 10.000 EUR, more than 1 month
bitstamp i opened a new $ bank account, bitstamp converted my withdrawal to EUR, so my bank will convert it back to USD, fantastic
f..ck u all
Learn to WoT, go OTC. |
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EuroTrash
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May 15, 2013, 03:43:25 PM |
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You'd think they'd issue a public statement by now. Like they did with the CoinLab deal affaire. Or with this new US Homeland Security / Dwolla "problem". Yeah right.  |
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2weiX
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this space intentionally left blank
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May 16, 2013, 06:42:37 AM |
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You'd think they'd issue a public statement by now. Like they did with the CoinLab deal affaire. Or with this new US Homeland Security / Dwolla "problem". Yeah right. Hello,
We understand that the delay has been unacceptable. We have reached the daily limit for withdrawal that was imposed on us by our bank and all withdrawals are now being queued for processing and all will be processed according to the daily queue and we will keep you updated once processed and we apologize for the inconvenience.
If you wish you can cancel the withdrawal and may request the withdrawal through International transfer which will be processed within a week. |
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