MtGox withdrawal delays [Gathering]

[RaTTuS]

....heir customers bald faced 'several weeks' lies when customers ...

it's barefaced ;-p it's no Movember yet

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[joesmoe2012]

Rumor has it that SEPA is up to about Sept 10th (I have a transfer pending on the 13th and havenn't seen it come through yet, nor change from confirmed to processed).

[tvbcof]

....heir customers bald faced 'several weeks' lies when customers ...

it's barefaced ;-p it's no Movember yet

'Movember' came early this year.  Now $200/BTC on Gox, but more than that on BTCChina.  I find that critical because it seems very likely to me that China is going to dominate the Bitcoin economy going forward if their government maintains a passive posture.  I suspect that the shift could be abrupt and pronounced.

[RedBill]

I received a 5% withdrawal today, and have another pending. Everything is operating smoothly for me.

What currency?

[chura]

Hi all,

I experienced BTC withdrawal problems at the end of the last week, too. I withdrew 2 BTC on 2013-10-18 01:44 according to mtgox statement but the transaction was broadcasted on 2013-10-19 10:40 by mtgox, according to blockchain.info = delay of ~33 hours
...so: No, it was not caused by no-fee miner's decision, block mining statistics etc, but just by some BTC-insolvency of mtgox. Maybe it was temporary and hopefully it's already gone.

Also, I've requested to withdraw 6.5k EUR via SEPA on 18th Sep - status is still "confirmed".

[sturle]

Rumor has it that SEPA is up to about Sept 10th (I have a transfer pending on the 13th and havenn't seen it come through yet, nor change from confirmed to processed).

Latest reported received SEPA withdrawal is from September 12th.

[bitdude]

they just informed me about this update that there is only 1 SEPA withdrawal in 20 days per client, why this information is missing in the client area 

[sturle]

they just informed me about this update that there is only 1 SEPA withdrawal in 20 days per client, why this information is missing in the client area 

It is mentioned in the FAQ on the support pages.  Isn't it linked somewhere?  It used to be.

[bitdude]

yes, it is in FAQ article that is being updated from time to time without any notice ... I am really unhappy about how Gox handle this

[Mvann]

On average how long time does Bitcoin cashouts take from gox? (I have been waiting about 3-4hours now)

[sturle]

On average how long time does Bitcoin cashouts take from gox? (I have been waiting about 3-4hours now)

Median is pretty much instant.  Average delay is very low, but there are a few outliers which go to the extreme.  Sometimes days.  I have explained the bug in an earlier post in this thread.  It depends on the fee of course, like all bitcoin transactions.

[zeroblock]

On average how long time does Bitcoin cashouts take from gox? (I have been waiting about 3-4hours now)

Median is pretty much instant.  Average delay is very low, but there are a few outliers which go to the extreme.  Sometimes days.  I have explained the bug in an earlier post in this thread.  It depends on the fee of course, like all bitcoin transactions.

No those are not outliers, those are the median.  And Gox's "error" of double spending the transactions is purposeful in order to delay withdraws.  Aka capital controls. The transaction fee is not the problem.

https://bitcointalk.org/index.php?topic=314901.0
https://bitcointalk.org/index.php?topic=316152.0

[Nemesis]

On average how long time does Bitcoin cashouts take from gox? (I have been waiting about 3-4hours now)

Are you waiting for confirmations ? or for the transaction being broadcasted?

[sturle]

On average how long time does Bitcoin cashouts take from gox? (I have been waiting about 3-4hours now)

Median is pretty much instant.  Average delay is very low, but there are a few outliers which go to the extreme.  Sometimes days.  I have explained the bug in an earlier post in this thread.  It depends on the fee of course, like all bitcoin transactions.

No those are not outliers, those are the median.

Can you please document that, or are you making it up?  I sent four withdrawals yesterday.  All four went straight out with no delays.  Amounts from 1.4 to 10 BTC, no fee.  Reports here supports this as well.  Delayed transactions are exceptions.

And Gox's "error" of double spending the transactions is purposeful in order to delay withdraws.  Aka capital controls. The transaction fee is not the problem.

This is not an error, it is a feature.  Transactions which have been waiting for more than 24 hours are cancelled by a double spending transaction, and then tried again.  Read my explanation earlier in this thread.  Do you have any idea what capital control means, or was that just a fancy phrase that popped out of your head?

[trdiablo]

Situation as of 16 October 2013: We are currently processing withdrawals requested five weeks ago. (Users with several withdrawals in the queue must take the 20 day rule above into account)

https://support.mtgox.com/entries/21649594-Withdrawals-and-Deposits

[Raralith]

Situation as of 16 October 2013: We are currently processing withdrawals requested five weeks ago. (Users with several withdrawals in the queue must take the 20 day rule above into account)

https://support.mtgox.com/entries/21649594-Withdrawals-and-Deposits

     * Japanese Domestic Transfer - Only for Japanese residents.
     * Polish Domestic Transfer - Only for Polish residents.
     * International Wire Transfer - Please note that we are unable to accept funds coming from or going to any entity, state or country listed by the US OFAC (Office of Foreign Assets Control).  If you wish to deposit from or withdraw to one of these countries, we are sorry but you can not do so through MtGox.
     * SEPA - Only for European residents
     * Okpay - Only for deposits

From the link above updated 10/17/2013. Does this mean no transfers to the US?

[Keyser Soze]

     * Japanese Domestic Transfer - Only for Japanese residents.
     * Polish Domestic Transfer - Only for Polish residents.
     * International Wire Transfer - Please note that we are unable to accept funds coming from or going to any entity, state or country listed by the US OFAC (Office of Foreign Assets Control).  If you wish to deposit from or withdraw to one of these countries, we are sorry but you can not do so through MtGox.
     * SEPA - Only for European residents
     * Okpay - Only for deposits

From the link above updated 10/17/2013. Does this mean no transfers to the US?

Only if your name shows up on the OFAC list. Unless you are a suspected terrorist (or something similar), it shouldn't. If you are really curious you can search it your self online.

The OFAC disclaimer has nothing to do with their ongoing international wire issues.

[Maniac479]

I've been screwed by Mt Gox and am not happy about it. A couple of weeks ago I got verified and sold some bitcoins with the idea of getting some cash. I gave Gox my bank account number to send the dollars there. Days went by and nothing happened. Finally I contacted support. At this point I hadn't received the dollars at my bank and yet the money was no longer in my Gox account. Fortunately for me support got back to me quickly and said there was a delay. But I had asked them HOW LONG would it take for me to receive my dollars, and they didn't say. So I asked again more pointedly. They responded with THREE WEEKS! But they said that they could transfer the dollars back to my account if I wanted to, if that was too long. Yes, I told them, I want the dollars back to my account, that's too long. So now I can see the dollars I got for my bitcoin but I am no longer in the withdrawal queue. Meanwhile the value of a bitcoin has gone up up up. So the only way for me to get my funds out at this point would be to buy the bitcoins back at WAY MORE than I sold them for. I haven't done this and am hoping that at some point in the future I can transfer my dollars out in a reasonable amount of time, but I'm not holding my breath. I should have kept my bitcoin in my computer wallet and not messed with online wallets is what I think now.

[papamoi]

Unfortunately you are not alone in this case

I've been screwed by Mt Gox and am not happy about it. A couple of weeks ago I got verified and sold some bitcoins with the idea of getting some cash. I gave Gox my bank account number to send the dollars there. Days went by and nothing happened. Finally I contacted support. At this point I hadn't received the dollars at my bank and yet the money was no longer in my Gox account. Fortunately for me support got back to me quickly and said there was a delay. But I had asked them HOW LONG would it take for me to receive my dollars, and they didn't say. So I asked again more pointedly. They responded with THREE WEEKS! But they said that they could transfer the dollars back to my account if I wanted to, if that was too long. Yes, I told them, I want the dollars back to my account, that's too long. So now I can see the dollars I got for my bitcoin but I am no longer in the withdrawal queue. Meanwhile the value of a bitcoin has gone up up up. So the only way for me to get my funds out at this point would be to buy the bitcoins back at WAY MORE than I sold them for. I haven't done this and am hoping that at some point in the future I can transfer my dollars out in a reasonable amount of time, but I'm not holding my breath. I should have kept my bitcoin in my computer wallet and not messed with online wallets is what I think now.

[tvbcof]

Unfortunately you are not alone in this case

Yup.  They punked a lot of us.  I saw it coming but still I am in for $5k (The price having doubled since I tried to use Mt. Gox as an 'exchange'.)  I just sucked it up and looked around for another service.  Started with Coinbase a few days ago, and they seem a vastly better solution for my needs anyway...in addition to seeming to be able to provide the service that they advertise.

Although I hope that Mt. Gox remains in the game it is unlikely that I'll ever be a customer of theirs going forward even if they do get healthy.  Only if they are more hopeful than any other option.  After getting reamed by some outfit it is difficult to forgive and forget and develop much of a level of confidence.

I've been screwed by Mt Gox and am not happy about it. A couple of weeks ago I got verified and sold some bitcoins with the idea of getting some cash. I gave Gox my bank account number to send the dollars there. Days went by and nothing happened. Finally I contacted support. At this point I hadn't received the dollars at my bank and yet the money was no longer in my Gox account. Fortunately for me support got back to me quickly and said there was a delay. But I had asked them HOW LONG would it take for me to receive my dollars, and they didn't say. So I asked again more pointedly. They responded with THREE WEEKS! But they said that they could transfer the dollars back to my account if I wanted to, if that was too long. Yes, I told them, I want the dollars back to my account, that's too long. So now I can see the dollars I got for my bitcoin but I am no longer in the withdrawal queue. Meanwhile the value of a bitcoin has gone up up up. So the only way for me to get my funds out at this point would be to buy the bitcoins back at WAY MORE than I sold them for. I haven't done this and am hoping that at some point in the future I can transfer my dollars out in a reasonable amount of time, but I'm not holding my breath. I should have kept my bitcoin in my computer wallet and not messed with online wallets is what I think now.