MtGox withdrawal delays [Gathering]

[sturle]

I was reading the chat on https://mcxnow.com and saw realsolid talking about mtgox there. He claims that his talks with magicaltux indicate all SWIFT and IBAN transfers are blocked from mtgox.

Obvius BS.  There is no such thing as an IBAN transfer.

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[dave111223]

Holy crap we're up to a 20% spread.

[sturle]

Sturle you are quite delusional.  I'm simply not going to argue with someone who cannot accept reality even when it slaps him in the face.  Its honestly pathetic.

Ditto.  You remind me of my five year old when you claim that withdrawing fiat is impossible, and you haven't even tried many of the methods which everyone who have claims are working and fast.  Denying obvious facts, sticking to the methods which you know don't work, arguing that people should take a loss instead of a good arbitrage.  Pathetic.

[prophetx]

so people are saying sepa is working now but slow for transfers under 1000 euros?

[justusranvier]

First of all it is quite easy to sell at MtGox prices elsewhere.  I've always done that to avoid withdrawal fees.  There is no need to sell at a loss.

Could you give me an example?

Buyers in LocalBitcoins are willing to pay Mt Gox spot or sometimes even higher for bitcoins.

[Rampion]

so people are saying sepa is working now but slow for transfers under 1000 euros?

Didn't read that, but Karpeles said that they have a hard cap of 10 EURO wires per day. If that's true, it would be pretty logic to give priority to people requesting withdrawals of 5/6 figures, instead of consuming that limit serving users that mean almost 0 profit for Gox (honestly, if you are trading with 1,000€ you cannot make a lot in fees for Gox compared to traders that do their thing with 100,000€)

This is wild speculation, but I think is very plausible given the fact that everybody complaining about non received withdrawals in this forum reports smallish ones, 4 figures or even 3 figures. I haven't read a single report by a trusted member having problem with its 50k (usd or eur) withdrawals, and I've experienced myself very fast SEPA withdrawals at a time when everybody was already complaining about delays (shortly after the Dwolla thing - early June).

Playing devil's advocate with Gox is earning me a lot of hostility in these forums, but this is my speculative opinion based on my long experience with Gox. People always complained about them, in 2011 it looked like they were going to go bust because of the multiple hacks combined to the burst of the bubble, everybody whined about it and panicked causing a similar "Gox run", but yet not a single user has EVER lost his coins/fiat because of Gox's fault. Their PR can be shifty, their trading engine amateurish at best, but they have a long story of honesty and reliability, they wouldn't run with your money in difficult times as they have already proved in the past. Making a long story short, for me Gox is still more trusted than Bitstamp - and I'm quite sure that for whale traders that wire millions to exchanges, Gox would still be the first choice precisely for their history of honesty. Don't forget that any problem Gox might be experiencing with US regulators, will probably hit other exchanges soon enough.

[Zarathustra]

First of all it is quite easy to sell at MtGox prices elsewhere.  I've always done that to avoid withdrawal fees.  There is no need to sell at a loss.

Could you give me an example?

Buyers in LocalBitcoins are willing to pay Mt Gox spot or sometimes even higher for bitcoins.

Ah, at the J_R Exchange. Nice spreads! 119.- / 79.-

[prophetx]

so people are saying sepa is working now but slow for transfers under 1000 euros?

Didn't read that, but Karpeles said that they have a hard cap of 10 EURO wires per day. If that's true, it would be pretty logic to give priority to people requesting withdrawals of 5/6 figures, instead of consuming that limit serving users that mean almost 0 profit for Gox (honestly, if you are trading with 1,000€ you cannot make a lot in fees for Gox compared to traders that do their thing with 100,000€)

This is wild speculation, but I think is very plausible given the fact that everybody complaining about non received withdrawals in this forum reports smallish ones, 4 figures or even 3 figures. I haven't read a single report by a trusted member having problem with its 50k (usd or eur) withdrawals, and I've experienced myself very fast SEPA withdrawals at a time when everybody was already complaining about delays (shortly after the Dwolla thing - early June).

Playing devil's advocate with Gox is earning me a lot of hostility in these forums, but this is my speculative opinion based on my long experience with Gox. People always complained about them, in 2011 it looked like they were going to go bust because of the multiple hacks combined to the burst of the bubble, everybody whined about it and panicked causing a similar "Gox run", but yet not a single user has EVER lost his coins/fiat because of Gox's fault. Their PR can be shifty, their trading engine amateurish at best, but they have a long story of honesty and reliability, they wouldn't run with your money in difficult times as they have already proved in the past. Making a long story short, for me Gox is still more trusted than Bitstamp - and I'm quite sure that for whale traders that wire millions to exchanges, Gox would still be the first choice precisely for their history of honesty. Don't forget that any problem Gox might be experiencing with US regulators, will probably hit other exchanges soon enough.

no he said they have a hard limit of 10 swift transactions per day.

sepa transfers have some other limit but it is not 10 transactions

[Rampion]

so people are saying sepa is working now but slow for transfers under 1000 euros?

Didn't read that, but Karpeles said that they have a hard cap of 10 EURO wires per day. If that's true, it would be pretty logic to give priority to people requesting withdrawals of 5/6 figures, instead of consuming that limit serving users that mean almost 0 profit for Gox (honestly, if you are trading with 1,000€ you cannot make a lot in fees for Gox compared to traders that do their thing with 100,000€)

This is wild speculation, but I think is very plausible given the fact that everybody complaining about non received withdrawals in this forum reports smallish ones, 4 figures or even 3 figures. I haven't read a single report by a trusted member having problem with its 50k (usd or eur) withdrawals, and I've experienced myself very fast SEPA withdrawals at a time when everybody was already complaining about delays (shortly after the Dwolla thing - early June).

Playing devil's advocate with Gox is earning me a lot of hostility in these forums, but this is my speculative opinion based on my long experience with Gox. People always complained about them, in 2011 it looked like they were going to go bust because of the multiple hacks combined to the burst of the bubble, everybody whined about it and panicked causing a similar "Gox run", but yet not a single user has EVER lost his coins/fiat because of Gox's fault. Their PR can be shifty, their trading engine amateurish at best, but they have a long story of honesty and reliability, they wouldn't run with your money in difficult times as they have already proved in the past. Making a long story short, for me Gox is still more trusted than Bitstamp - and I'm quite sure that for whale traders that wire millions to exchanges, Gox would still be the first choice precisely for their history of honesty. Don't forget that any problem Gox might be experiencing with US regulators, will probably hit other exchanges soon enough.

no he said they have a hard limit of 10 swift transactions per day.

sepa transfers have some other limit but it is not 10 transactions

Maybe i got it wrong, but nevertheless they have some ridiculous limits regarding transactions per days - right? My point is that they could be priorizing biggish customers that mean significant money in fees for Gox. They wouldn't want to lose those.

[smoothie]

What problem are you talking about? The ability to withdraw fiat from gox ...OR...the FACT that the ONLY option to get funds out is to BUY BTC...

What you call a fact is not.  Many people here have gotten fiat money out from MtGox.  JPY transfers arrive next day.  No reports claim otherwise, unless you spell your name wrong.  You and some people here spreading FUD for your own profit.  Your FUD campaign is what it is, and not even remotely related to fact.

Well not everyone has a JPY bank account. So now what's your come back? You seem to have an answer for everything.

So you are telling me that people who BUY BTC, send it to another exchange and sell for fiat at a % loss DO NOT have mistrust for gox?

They are quite stupid, panicing or falling for your FUD campaign.  First of all it is quite easy to sell at MtGox prices elsewhere.  I've always done that to avoid withdrawal fees.  There is no need to sell at a loss.  Secondly it is possible to get fiat out of MtGox.  See multiple confirmations in this thread.

Okay so people are stupid and panicing, and falling for MY FUD campaign. LOL. Hardly fud when talking about the facts.

For you there is no need to take a loss, but for others that might not be the case. Once again you've failed.

Possible =/= likely. Months of withdrawal delays is hardly ABLE to get out fiat. You are speaking at the small percentage of people who were either TOO BIG of a customer to piss off or TOO CLOSE of a friend of Mark not to allow a withdrawal.

Perhaps reading the OP subject line and thread..this is a thread talking about the delays in fiat withdrawals and from my personal take, most here actually dont trust gox or speculate that gox may go belly up. Not that I am saying they will. I just am claiming I do not trust GOX.

Delayed is quite different from impossible.

Who said it was completely impossible? Obviously it isnt for Mark and his close friends or large customers.

The point is that claiming I am spreading FUD is a diversion from your obvious inability to be truthful about the facts surrounding gox. It seriously looks like you have tunnel vision. "Let's ignore the GIANT PINK ELEPHANT in the room and focus on the tiny fly."

Hardly a way to keep up the rebuttals. But keep on lol

[prophetx]

so people are saying sepa is working now but slow for transfers under 1000 euros?

Didn't read that, but Karpeles said that they have a hard cap of 10 EURO wires per day. If that's true, it would be pretty logic to give priority to people requesting withdrawals of 5/6 figures, instead of consuming that limit serving users that mean almost 0 profit for Gox (honestly, if you are trading with 1,000€ you cannot make a lot in fees for Gox compared to traders that do their thing with 100,000€)

This is wild speculation, but I think is very plausible given the fact that everybody complaining about non received withdrawals in this forum reports smallish ones, 4 figures or even 3 figures. I haven't read a single report by a trusted member having problem with its 50k (usd or eur) withdrawals, and I've experienced myself very fast SEPA withdrawals at a time when everybody was already complaining about delays (shortly after the Dwolla thing - early June).

Playing devil's advocate with Gox is earning me a lot of hostility in these forums, but this is my speculative opinion based on my long experience with Gox. People always complained about them, in 2011 it looked like they were going to go bust because of the multiple hacks combined to the burst of the bubble, everybody whined about it and panicked causing a similar "Gox run", but yet not a single user has EVER lost his coins/fiat because of Gox's fault. Their PR can be shifty, their trading engine amateurish at best, but they have a long story of honesty and reliability, they wouldn't run with your money in difficult times as they have already proved in the past. Making a long story short, for me Gox is still more trusted than Bitstamp - and I'm quite sure that for whale traders that wire millions to exchanges, Gox would still be the first choice precisely for their history of honesty. Don't forget that any problem Gox might be experiencing with US regulators, will probably hit other exchanges soon enough.

no he said they have a hard limit of 10 swift transactions per day.

sepa transfers have some other limit but it is not 10 transactions

Maybe i got it wrong, but nevertheless they have some ridiculous limits regarding transactions per days - right? My point is that they could be priorizing biggish customers that mean significant money in fees for Gox. They wouldn't want to lose those.

you are not helping... this is pure speculation... there are limits on sepa transfers i just want to know what they are

[Rampion]

so people are saying sepa is working now but slow for transfers under 1000 euros?

Didn't read that, but Karpeles said that they have a hard cap of 10 EURO wires per day. If that's true, it would be pretty logic to give priority to people requesting withdrawals of 5/6 figures, instead of consuming that limit serving users that mean almost 0 profit for Gox (honestly, if you are trading with 1,000€ you cannot make a lot in fees for Gox compared to traders that do their thing with 100,000€)

This is wild speculation, but I think is very plausible given the fact that everybody complaining about non received withdrawals in this forum reports smallish ones, 4 figures or even 3 figures. I haven't read a single report by a trusted member having problem with its 50k (usd or eur) withdrawals, and I've experienced myself very fast SEPA withdrawals at a time when everybody was already complaining about delays (shortly after the Dwolla thing - early June).

Playing devil's advocate with Gox is earning me a lot of hostility in these forums, but this is my speculative opinion based on my long experience with Gox. People always complained about them, in 2011 it looked like they were going to go bust because of the multiple hacks combined to the burst of the bubble, everybody whined about it and panicked causing a similar "Gox run", but yet not a single user has EVER lost his coins/fiat because of Gox's fault. Their PR can be shifty, their trading engine amateurish at best, but they have a long story of honesty and reliability, they wouldn't run with your money in difficult times as they have already proved in the past. Making a long story short, for me Gox is still more trusted than Bitstamp - and I'm quite sure that for whale traders that wire millions to exchanges, Gox would still be the first choice precisely for their history of honesty. Don't forget that any problem Gox might be experiencing with US regulators, will probably hit other exchanges soon enough.

no he said they have a hard limit of 10 swift transactions per day.

sepa transfers have some other limit but it is not 10 transactions

Maybe i got it wrong, but nevertheless they have some ridiculous limits regarding transactions per days - right? My point is that they could be priorizing biggish customers that mean significant money in fees for Gox. They wouldn't want to lose those.

you are not helping... this is pure speculation... there are limits on sepa transfers i just want to know what they are

Then ask Karpeles. Freenode, #mtgox. He should be online and available right now.

[sturle]

What problem are you talking about? The ability to withdraw fiat from gox ...OR...the FACT that the ONLY option to get funds out is to BUY BTC...

What you call a fact is not.  Many people here have gotten fiat money out from MtGox.  JPY transfers arrive next day.  No reports claim otherwise, unless you spell your name wrong.  You and some people here spreading FUD for your own profit.  Your FUD campaign is what it is, and not even remotely related to fact.

Well not everyone has a JPY bank account. So now what's your come back? You seem to have an answer for everything.

Correct, and not everyone have an EUR account in the SEPA.  Not everyone have a bank account at all.  Closing of AurumExchange and OKPay made withdrawal of fiat impossible for many people until they got themselves a bank account.  Nevertheless your claim was bombastic in capital letters, as if it applies to everyone:

What problem are you talking about? The ability to withdraw fiat from gox ...OR...the FACT that the ONLY option to get funds out is to BUY BTC...

So you are telling me that people who BUY BTC, send it to another exchange and sell for fiat at a % loss DO NOT have mistrust for gox?

They are quite stupid, panicing or falling for your FUD campaign.  First of all it is quite easy to sell at MtGox prices elsewhere.  I've always done that to avoid withdrawal fees.  There is no need to sell at a loss.  Secondly it is possible to get fiat out of MtGox.  See multiple confirmations in this thread.

Okay so people are stupid and panicing, and falling for MY FUD campaign. LOL. Hardly fud when talking about the facts.

No, what you claim are FACTs are not even remotely close to facts.  Perhaps a FACT is different from a fact?  A FACT is just a kind of almost fact which could be true if you bend it and add a few ifs?

For you there is no need to take a loss, but for others that might not be the case. Once again you've failed.

For certain values of need, perhaps.  I doubt it applies to many people.  Many people listen to your FUD, panics and leave at a loss.  I feel sorry for them, but it is their choice.

Possible =/= likely. Months of withdrawal delays is hardly ABLE to get out fiat. You are speaking at the small percentage of people who were either TOO BIG of a customer to piss off or TOO CLOSE of a friend of Mark not to allow a withdrawal.

Or anyone in Japan or most people in Europe, or anyone trusted who is willing to pay for an emergency manual withdrawal, or...  Your small percentage is getting quite large.  20% of the volume on MtGox yesterday was either JPY or EUR.  Yes, there have been reports on EUR withdrawals waiting long, but most people report quick service.  Could be worth a talk to Support if it takes too long.  Some banks have different BIC for SEPA and SWIFT, and usually the code used for SWIFT is the one most visible.  Apparently MtGox have some problems in that regard.

Perhaps reading the OP subject line and thread..this is a thread talking about the delays in fiat withdrawals and from my personal take, most here actually dont trust gox or speculate that gox may go belly up. Not that I am saying they will. I just am claiming I do not trust GOX.

Delayed is quite different from impossible.

Who said it was completely impossible? Obviously it isnt for Mark and his close friends or large customers.

YOU did.  Stating is as a FACT in capital letters:

What problem are you talking about? The ability to withdraw fiat from gox ...OR...the FACT that the ONLY option to get funds out is to BUY BTC...

The point is that claiming I am spreading FUD is a diversion from your obvious inability to be truthful about the facts surrounding gox. It seriously looks like you have tunnel vision. "Let's ignore the GIANT PINK ELEPHANT in the room and focus on the tiny fly."

Please tell me where I'm wrong.  I'll be happy to correct my statements if they are wrong.  There are a lot of comments and threads here on bitcointroll where people are claiming they have received their fiat withdrawals.  Even today.  Why do you ignore them?  Yes, there are a few large pink noisy elephants in the room (not many), but there are a lot of happy flies as well who make a lot less noise.  Why ignore the happy flies?  People have trolled about MtGox since  2010 when their PayPal account was closed.  I did it myself back then.  Still MtGox is up and running as the most liquid, highest volume exchange with the deepest order books.  I think most of their customers have got used to the FUD here on bitcointroll.  MtGox is solid as a rock.  Built to withstand Japanese earthquakes.

[joesmoe2012]

so people are saying sepa is working now but slow for transfers under 1000 euros?

Didn't read that, but Karpeles said that they have a hard cap of 10 EURO wires per day. If that's true, it would be pretty logic to give priority to people requesting withdrawals of 5/6 figures, instead of consuming that limit serving users that mean almost 0 profit for Gox (honestly, if you are trading with 1,000€ you cannot make a lot in fees for Gox compared to traders that do their thing with 100,000€)

This is wild speculation, but I think is very plausible given the fact that everybody complaining about non received withdrawals in this forum reports smallish ones, 4 figures or even 3 figures. I haven't read a single report by a trusted member having problem with its 50k (usd or eur) withdrawals, and I've experienced myself very fast SEPA withdrawals at a time when everybody was already complaining about delays (shortly after the Dwolla thing - early June).

Playing devil's advocate with Gox is earning me a lot of hostility in these forums, but this is my speculative opinion based on my long experience with Gox. People always complained about them, in 2011 it looked like they were going to go bust because of the multiple hacks combined to the burst of the bubble, everybody whined about it and panicked causing a similar "Gox run", but yet not a single user has EVER lost his coins/fiat because of Gox's fault. Their PR can be shifty, their trading engine amateurish at best, but they have a long story of honesty and reliability, they wouldn't run with your money in difficult times as they have already proved in the past. Making a long story short, for me Gox is still more trusted than Bitstamp - and I'm quite sure that for whale traders that wire millions to exchanges, Gox would still be the first choice precisely for their history of honesty. Don't forget that any problem Gox might be experiencing with US regulators, will probably hit other exchanges soon enough.

Your right, it's wild speculation. You're facts are not correct either.

[ur0pl]

are wire transfer withdraws working from the site? how long does a wire transfer withdraw take? or are they still suspended?

[joesmoe2012]

are wire transfer withdraws working from the site? how long does a wire transfer withdraw take? or are they still suspended?

Where have you been?

You've found the correct thread, now try reading the past couple pages.

[ur0pl]

I don't understand what the spread in prices means when MtGox site goes back live. Lots of people are selling thousands and millions of dollars of bitcoin on mtgox because it is priced higher than it should be.

Why would someone buy bitcoin so high?

this is ridiculous.

[OhShei8e]

I don't understand what the spread in prices means when MtGox site goes back live. Lots of people are selling thousands and millions of dollars of bitcoin on mtgox because it is priced higher than it should be.

Why would someone buy bitcoin so high?

this is ridiculous.

People with money on Gox are in panic, because USD withdrawals have become very slow or impossibly. Don't try to understand a panic. Deal with it.   

[joesmoe2012]

I don't understand what the spread in prices means when MtGox site goes back live. Lots of people are selling thousands and millions of dollars of bitcoin on mtgox because it is priced higher than it should be.

Why would someone buy bitcoin so high?

this is ridiculous.

People with money on Gox are in panic, because USD withdrawals have become very slow or impossibly. Don't try to understand a panic. Deal with it.   

USD withdraws?

Everything but JPY withdraws are slowed to nearly a halt. There's less than a dozen reports a WEEK of people receiving SEPA/SWIFT transfers on this forum - they aren't happening.

[OhShei8e]

Everything but JPY withdraws are slowed to nearly a halt. There's less than a dozen reports a WEEK of people receiving SEPA/SWIFT transfers on this forum - they aren't happening.

I have already started my GOX/SEPA-Abitrage. With small quantities is not a problem. € 1,000 you get out in each case per month from Gox. I'm going to the trusted status now, then perhaps i can get more.

Of course, some day the fun is over and you can withdraw USD normal again. But in the meantime it's lucrative. Bought for 78 € on bitcoin.de two days ago. Now the price on Gox is at 90€! This is easy money.