bitcoinmarketmaker
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put me on speeddial#1
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July 12, 2013, 10:01:39 PM |
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Is it time to buy BTC and transfer out? What exchange can I count on to get me my money?
Bitstamp, then you will have your fiat currency in just a couple of days. In the last 3 months I had no problems / delays with Bitstamp. I did it that way, I prefer to pay Mt. Gox buy fee, and Bitstamp sell fee, and the loss due to price difference at Mt.Gox and Bitstamp and then get my fiat currency in a couple of days, instead of waiting for weeks at Mt.Gox And now I switched all my volume to Bitstamp and use Bitstamp as reference price for trades (instead of Mt.Gox), so I am not going back to Mt. Gox anytime soon. What good is a higher/lower price if you can't cash out? |
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EuroTrash
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July 13, 2013, 11:16:33 AM
Last edit: July 13, 2013, 12:45:39 PM by EuroTrash |
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Is it time to buy BTC and transfer out? What exchange can I count on to get me my money?
BitStamp order matching engine is "suboptimal", but I have never had issues with large withdrawals. The longest I have ever waited with them is one week. |
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dave111223
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Activity: 1190
Merit: 1001
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July 13, 2013, 12:26:43 PM |
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Is it time to buy BTC and transfer out? What exchange can I count on to get me my money?
Bitstamp, then you will have your fiat currency in just a couple of days. In the last 3 months I had no problems / delays with Bitstamp. I did it that way, I prefer to pay Mt. Gox buy fee, and Bitstamp sell fee, and the loss due to price difference at Mt.Gox and Bitstamp and then get my fiat currency in a couple of days, instead of waiting for weeks at Mt.Gox And now I switched all my volume to Bitstamp and use Bitstamp as reference price for trades (instead of Mt.Gox), so I am not going back to Mt. Gox anytime soon. What good is a higher/lower price if you can't cash out? Same here. There's no guarantee that Bitstamp won't screw us too, but at least they have never done anything yet to make people doubt them. While there are a number of things about Bitstamp that bug me; concern about them going bust is not one of them. Gox has given cause for concern many times. Where is that shiny new Gox trading engine? Where is the litecoin support? They have failed to deliver time and time again. It makes people worried to use them. In the long run it's best for Bitcoin if Gox just fades away to a 20-30% market share and then continues to operate. While hopefully some other exchanges (bitstamp, campbx, btc-e, etc) pick up the slack. |
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wingding
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July 13, 2013, 01:01:47 PM |
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Considering moving to Bitstamp. Anybody here who did succesful withdrawals from there recently?
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Ovum
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July 13, 2013, 11:52:14 PM |
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Considering moving to Bitstamp. Anybody here who did succesful withdrawals from there recently?
Yes, but only the equivalent of one bitcoin. It took 2 or 3 days! |
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arbitrage001
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Activity: 1067
Merit: 1000
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July 14, 2013, 09:45:49 AM |
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Considering moving to Bitstamp. Anybody here who did succesful withdrawals from there recently?
Yes, but only the equivalent of one bitcoin. It took 2 or 3 days! Two to three days is the standard time for international wire. |
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sd
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July 14, 2013, 05:52:16 PM |
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After suffering from GOX refusing to give me my money or tell me why for 7 weeks I went to bitcoin.de. I can now sell BTC and get the cash within 3 work days max. No excuses, no BS, lower fees, and as it works with direct SEPA transfers you never have someone else holding onto your money. If you want to sell BTC for EUR GOX is a terrible way of doing that. Bitcoin.de works great for me. I never tried bitstamp. Here is my referral link (which gives me 10% of the 0.5% you pay on future transactions at no cost to you): https://www.bitcoin.de/de/r/hevpfs |
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Coinfish
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July 14, 2013, 06:39:06 PM |
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I've now completed my transfer to Bitstamp... with the difference in exchange rates between Gox and Bitstamp over the weekend it looks like it cost me ~700USD, but in my opinion it was worth every penny. I've been trying to withdraw my funds for over a month now (need to buy a car) and quite frankly I was sick of waiting on them. This is the angriest I've ever been at any company in my entire life. Customer service at MtGox is several steps below your local bank branch, the Walmart pharmacy, or the DMV. Either they're having serious liquidity issues (or worse) and they're stalling, or they just don't care about their customers. Wire from Bitstamp is still processing, but I put it in towards the end of the day on Friday, so no surprise there. (I can't wait until competition from cryptocurrencies forces banks and financial institutions to start offering service 7 days a week.  ) |
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Spaceman_Spiff
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₪``Campaign Manager´´₪
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July 14, 2013, 07:51:45 PM |
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I suspect bitstamp withdrawals may experience a bit of delay now, with all the people from gox coming over to them to withdraw funds...
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Kumpel
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Activity: 18
Merit: 0
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July 15, 2013, 01:40:30 PM |
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After suffering from GOX refusing to give me my money or tell me why for 7 weeks I went to bitcoin.de. I can now sell BTC and get the cash within 3 work days max. No excuses, no BS, lower fees, and as it works with direct SEPA transfers you never have someone else holding onto your money. If you want to sell BTC for EUR GOX is a terrible way of doing that. Bitcoin.de works great for me. I never tried bitstamp. Here is my referral link (which gives me 10% of the 0.5% you pay on future transactions at no cost to you): https://www.bitcoin.de/de/r/hevpfsI actually saw a major advantage of MtGox in dealing with the fiat payments. bitcoin.de is just a market place, not an exchange. In a sense GOXes .6% are cheaper for what is on offer than the .5% from bitcoin.de. Yes, they have some safeguards in place, but still, if something goes wrong in the line of an unauthorised account use, it is yourself who has to deal with it. Unfortunately the whole discussion is kind of pointless as GOX is currently not providing anything near to be called service. Simply not handing their customers money back renders all their nice features useless. |
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bitcoinmarketmaker
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Activity: 89
Merit: 10
put me on speeddial#1
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July 15, 2013, 01:52:04 PM |
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I suspect bitstamp withdrawals may experience a bit of delay now, with all the people from gox coming over to them to withdraw funds...
I also thought so like Spaceman_Spiff, but until now, in the last 3 weeks (since Mt.Gox really stopped functioning as a real exchange) I have experienced no increase in withdrawal processing with Bitstamp. My withdrawal requests are processed within 24 hours (except for a withdrawal request made on friday, which was processed on monday, which is normal, because of the weekend). And until now at Bitstamp, when you see the status change from "Waiting to be processed" to "Processing" it is just a couple of minutes to a status change to "Finished". And when it says "Finished" then it's (unlike Mt.Gox) just a matter of the processing time of the 2 banks, which is for my international transfers usually from 2 to 4 business days. |
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dave111223
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Merit: 1001
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July 15, 2013, 02:37:36 PM |
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I suspect bitstamp withdrawals may experience a bit of delay now, with all the people from gox coming over to them to withdraw funds...
Just put in an international wire withdrawal from Bitstamp on Sunday, processed on Monday. So no delays. |
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EuroTrash
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July 15, 2013, 03:14:42 PM |
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Please do not overload bitstamp! It's been a happy island for a while now.  I know we could resort to localbitcoins or WoT/OTC but I am neither a pusher* nor one of those 1337 scriptards who get a high out of bashing their python. I am a user ffs. Clicking buttons on exchange websites makes me poop in the morning so much better than having spent my previous night finding the ultimate gpg command line. * although personally I do not exclude a future career development in this direction.** ** disclaimer: this comment is a joke. |
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Mythoranium
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July 15, 2013, 03:34:29 PM |
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I have also been waiting for a while (since June 8th) for my EUR SEPA transfer (less than 1000EUR). Of course, that is nothing surprising, given all the recent reports of delays.
However, another thing happened, which seemed even more shady. Since there was a warning about SEPA withdrawals taking up to 3 weeks, and I didn't frequent bitcointalk at that time, I didn't think there was any problem, before the 3 weeks were up. So, I deposited a couple dozen coins to Gox for trading. The deposit went through fine and quick, as usual. I was also able to do one trade to fiat and back, no problem. Afterwards, when I read about the global withdrawal delays, I got a bit uneasy with both my coins and my fiat sitting at Gox and decided to withdraw the coins while leaving the EUR to process. Imagine my surprise when I tried to withdraw BTC and got a message "your account is pending verification..". Needless to say, I have already been verified (Level 1, the verification page confirmed this), and have made both EUR and BTC withdrawals in the past. Also, this was for only a couple dozen coins, the Level 1 verified limit is 1000BTC per day. I waited a bit and tried again, thinking it might have been a glitch, but same result.
I created a support ticket and got a prompt response in 2 hours, saying that I need to send notarized documents sealed with an apostille for Level 2 verification. I have never been even remotely close to the Level 1 verified limits, so I responded asking to elaborate and saying that I have no need for level 2 verification and I have never requested it. After that, no response. I waited for over 24 hours until I sent another message, again explaining that I never requested level 2 verification and asking to remove the request. After a couple of hours I finally got a response apologizing, my account was level 1 verified and I could withdraw my BTC again.
It seems very suspicious that during times when many people are moving BTC out of Gox, my account suddenly stopped being verified and I was unable to withdraw BTC (I think you don't even need to be Level 1 verified to withdraw small amounts of BTC, although I could be wrong there)
TL;DR — couldn't withdraw small amounts (couple dozen) of BTC, support asked for AML Level 2 verification despite me not requesting it.
Has anything like this happened to anyone else?
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codler
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July 15, 2013, 04:20:21 PM |
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I have waited more than 7weeks now.
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piotr_n
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aka tonikt
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July 15, 2013, 04:26:47 PM |
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I requested a SEPA withdrawal (which unlike USD were not on hold) around mid June, but still nothing. I mean, it says "Status: confirmed", but no money on my bank account. I asked for an estimate when I will get the money, or at least how many people are before me in the queue. A guy from the customer support replied "I will keep you up to date" and I have not heard from him ever since... |
Check out gocoin - my original project of full bitcoin node & cold wallet written in Go.PGP fingerprint: AB9E A551 E262 A87A 13BB 9059 1BE7 B545 CDF3 FD0E
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jl2012
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Merit: 1092
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July 15, 2013, 05:17:30 PM |
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Had anyone tried to withdraw non-USD fiat with wire recently? (not SEPA)
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Donation address: 374iXxS4BuqFHsEwwxUuH3nvJ69Y7Hqur3 (Bitcoin ONLY)
LRDGENPLYrcTRssGoZrsCT1hngaH3BVkM4 (LTC)
PGP: D3CC 1772 8600 5BB8 FF67 3294 C524 2A1A B393 6517
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joesmoe2012
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July 15, 2013, 05:25:28 PM |
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I requested a SEPA withdrawal (which unlike USD were not on hold) around mid June, but still nothing. I mean, it says "Status: confirmed", but no money on my bank account. I asked for an estimate when I will get the money, or at least how many people are before me in the queue. A guy from the customer support replied "I will keep you up to date" and I have not heard from him ever since... It will change from status confirmed to status processed once they have actually processed it...i'm in the same boat for weeks now. |
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flound1129
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July 15, 2013, 05:33:17 PM |
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CampBX isn't bad. Their site is slow as balls, but they offer withdrawal via Dwolla and the money shows up practically instantly in my Dwolla account. (Not like Gox's Dwolla withdrawal that used to take 2-3 hours when they supported it)
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Multipool - Always mine the most profitable coin - Scrypt, X11 or SHA-256!
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Kumpel
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July 15, 2013, 09:37:18 PM |
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...
Has anything like this happened to anyone else?
No, removed all my remaining BTC, worked without a problem. Now I am still left with some fiat in GOX which I have to convert. Looks like there will be at least a 2% gap excl. fees - could be quite profitable for someone who believes it is possible to get fiat out of GOX. Everyone seems to do it the other way round. Actually in retrospective I am surprised their trouble didn't start earlier, at the peak in April. Were there so many pushing fresh fiat into the market? Appears so. |
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