MtGox withdrawal delays [Gathering]

[Rampion]

Having BTC withdraw issues now @ Gox.

Been waiting hours and have multiple BTC withdraws that still haven't showed up on blockchain.

On IRC they are saying that it's because of the large number of transactions that gox is processing right now (in the last hours or so over 2000 were performed allegedly).

Man, I think Gox's volume is now above Forex, first they overwhelm the traditional banking system, then they overwhelm the whole Bitcoin network, what's next? Gox's huuuuuuuge volume is going to make the earth implode?

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[bernard75]

Concerning the recent rally, not caused between Gox and Stamp.
Check the Chinese markets.
They have volumes tripling all other markets.

[dust]

Update: Waiting over 4 months for USD wire requested July 4 within the hour of the announcement that USD withdrawals had been resumed.

[bernard75]

Update: Waiting over 4 months for USD wire requested July 4 within the hour of the announcement that USD withdrawals had been resumed.

Cancel it and make nice profit at an exchange that is actually still solvent.

[joesmoe2012]

Update: Waiting over 4 months for USD wire requested July 4 within the hour of the announcement that USD withdrawals had been resumed.

Cancel it and make nice profit at an exchange that is actually still solvent.

Can't currently withdraw BTC....I've been waiting 12 hours now for some BTC withdraws, still nothing on blockchain.

[subi]

UPDATE:

So, after 5 months and agreeing to paying a 5% ransom, I have received an e-mail that my funds are being sent and should take another week to arrive. I'll believe it when I see it.

It's really "interesting" that they decide to cash out withdrawals once the BTC price has spiked. Interesting indeed. I really hope MTGOX gets what is coming to them.

[N12]

Emptygox doesn't want our business, they are commiting slow-mo seppuku.

[Nagle]

Having BTC withdraw issues now @ Gox.

Been waiting hours and have multiple BTC withdraws that still haven't showed up on blockchain.

On IRC they are saying that it's because of the large number of transactions that gox is processing right now (in the last hours or so over 2000 were performed allegedly).

Man, I think Gox's volume is now above Forex, first they overwhelm the traditional banking system, then they overwhelm the whole Bitcoin network, what's next? Gox's huuuuuuuge volume is going to make the earth implode?

You can look at Gox's transaction history. They do a few transactions a minute. In terms of transactions per minute, Gox is at the level of a busy fast food outlet.

[tvbcof]

UPDATE:

So, after 5 months and agreeing to paying a 5% ransom, I have received an e-mail that my funds are being sent and should take another week to arrive. I'll believe it when I see it.

It's really "interesting" that they decide to cash out withdrawals once the BTC price has spiked. Interesting indeed. I really hope MTGOX gets what is coming to them.

Thanks for the goxicology report

[pennywise]

I got my SEPA withdrawal, made on sept. 17th, processed. The sum is 10k.

[smallplatf]

hello, FYI:

yesterday I performed 4 BTC withdrawals from MtGox; 2 of them (50%) failed, the coins are no more on my mtgox account but I have received nothing on my wallet.

So (at the moment) I lost a total of 5 BTC from MtGox when withdrawing my bitcoins.

Here are the transactions (from https://data.mtgox.com/api/0/bitcoin_tx.php, I have annotated the transaction id when doing the withdrawal on MtGox):
{"hash":"f597e41ae9171135f903debac51002c807c4b2c281b2df2a11db342029fc5b89","tx":"AQAAAAFziu9MG6TMMr1f5V3EQIG0GM0\/J\/R74\/zAb8PDjBDDJgAAAACLSDBFAiEAvPcn\/LFA+ePCXVqBFbMJvsoPCZGhzfD92vNekko7M6ECIHS3GXXBNq6l25vPMinS8jI3SJ3BzwoWegHEivYUoRukAUEEVbwIlqVLlKhMGib5FTXoJZlaEKKszms4pJxy7ju87urgscnRbeJZ+A0nzx\/msYDlIkoBRQma6\/eJCO7tzH3fVP\/\/\/\/8CAKPhEQAAAAAZdqkUAPxlJGk1wZYHiT+HmBe4SpvMjv+IrM4rUv4AAAAAGXapFEsdd5toezyckekKcRdXwZq6YgBFiKwAAAAA"},

{"hash":"720814769df459dc7b1f1a8b9fbc084cc9b0c491e681ec8e63659d802193854b","tx":"AQAAAAF86Wj6hmpL2vvxCEd5fHew05X\/8s0j1R6jFKXhLBGMwAAAAACLSDBFAiAvlg3IJoy3CiXw0GRUs2y+6z0sN+lQvqpCPVlRTGGFKwIhAPKR\/zad5xJpQwqKe+aS220ZZNNZr9k7jDkivbvlLyA8AUEEVbwIlqVLlKhMGib5FTXoJZlaEKKszms4pJxy7ju87urgscnRbeJZ+A0nzx\/msYDlIkoBRQma6\/eJCO7tzH3fVP\/\/\/\/8CAMLrCwAAAAAZdqkU+p9x1n+S0iwNhW1TRxkFW6Jw\/7KIrPwtGFEAAAAAGXapFA7MY23Y60\/kg824BuplGh4YCfjKiKwAAAAA"},


if I try to broadcast by myself with https://blockchain.info/pushtx, for both the transactions I get:

"An outpoint is already spent ....."
both transaction have two operations inside (one of them is the withdraw to my address).

Opened a support ticket with MtGox, but they are telling me to wait... for what? Both transactions are evidently wrong.
I hope to get my coins before or later....

I know that I am not the only on experiencing this "problem".

This situation gives the impression to be a way for MtGox to control the flux of bitcoin withdrawal. In this way they can delay as they like withdraws, managing eventual scarcity problems... if this is confirmed, it is not a very good business practice, I think.

EDIT (8/11/2013): MtGox solved the issue, received the missing 5 BTC in my wallet. It took about 48 hours to get them.

[sturle]

To every single fool who still has funds on gox. Forget all the pumps and dumps that required timing. At every minute of every day for the past 7.5 months you have had the opportunity to pull the btc off gox and sell on localbitcoins for a profit. It is sometimes equal to, but usually above gox price, and there is huge demand. I'm talking about people wanting to buy $50k, $60k blocks of coins. Give your heads a shake, smarten up and get resourceful instead of whining about it.

+1.  Arbitrage has been very easy for the last few months, but it looks as the window is closing now.  Less than 3% price difference between Bitstamp and MtGox.  People who didn't need the fiat to pay their bills could have been trading on MtGox all the time as well.  My bot has made a lot of BTC during the last few months.

[X68N]

"virtual" profit i call it. When you never get the Fiat to your bank its lost.
When you  BTC vanish on the way out of Gox. MtGox is useless unprofessional.

Goxed only once - never again.

[tvbcof]

Just FYI for those who have not seen it, Wired recently released a fun story about Mt. Gox and their various issues:

  http://www.wired.com/wiredenterprise/2013/11/mtgox/

[papamoi]

UPDATE:

So, after 5 months and agreeing to paying a 5% ransom, I have received an e-mail that my funds are being sent and should take another week to arrive. I'll believe it when I see it.

It's really "interesting" that they decide to cash out withdrawals once the BTC price has spiked. Interesting indeed. I really hope MTGOX gets what is coming to them.

This is how bitcoin business is working:
Eeither you can be cheated by some asic maker who plays with your money
either you are getting ransommed by the first btc exchange in the world

it s wild west btc world

UNFORTUNATELY

[trdiablo]

After waiting for 4 weeks I decided to cancel my SEPA withdrawal with Gox and just bought BTC. I was planning to do that anyway when the fiat arrived, so why wait.

I did get this message from MtGox Support after the cancel of the withdrawal.

We are working on more improved banking solution to increase the transaction speeds. Hopefully we will not only be back where we were before we encountered these issues , but much further ahead. We apologize for the inconvenience caused.

I know there is now some negativity around Gox but I personally will keep doing business with them because they have my trust.
Still, I have divided my funds between Gox and Bitstamp just to spread the risk as nothing is certain in bitcoin world.

[sturle]

"virtual" profit i call it. When you never get the Fiat to your bank its lost.
When you  BTC vanish on the way out of Gox. MtGox is useless unprofessional.

YMMV.  I usually don't transfer fiat out of MtGox.  Just BTC which I sell elsewhere at a higher price.  And MtGox is probably the exchange where I have had the least problems with BTC withdrawals.  I have had BTC withdrawal problems at every exchange I ever tried.  Bitstamp, Bitcurex, Intersango, MtGox, Bitcoin-Central.  You name it.  If I have used it, I have had problems with severely delayed withdrawals from the exchange.  The usual excuse is empty hot wallet.  Last time I had problems withdrawing BTC from MtGox was more than a year ago.

I have withdrawn EUR from MtGox as well, btw.  It works.  Takes some time due to EU regulation (MtGox is not yet licensed as a payment service in the EU), but the transfer arrives eventually.  Six weeks delay currently.

[bernard75]

We are working on more improved banking solution to increase the transaction speeds. Hopefully we will not only be back where we were before we encountered these issues , but much further ahead. We apologize for the inconvenience caused.

LOL, thats word for word from their April announcement.
And they are indeed "much further ahead".

[OhShei8e]

And MtGox is probably the exchange where I have had the least problems with BTC withdrawals.  I have had BTC withdrawal problems at every exchange I ever tried.  Bitstamp, Bitcurex, Intersango, MtGox, Bitcoin-Central.  You name it.  If I have used it, I have had problems with severely delayed withdrawals from the exchange.  The usual excuse is empty hot wallet.  Last time I had problems withdrawing BTC from MtGox was more than a year ago.

I have withdrawn EUR from MtGox as well, btw.  It works.  Takes some time due to EU regulation (MtGox is not yet licensed as a payment service in the EU), but the transfer arrives eventually.  Six weeks delay currently.

Do you make EUR withdrawals > 1000€? Do you have an trusted Gox account or only verified?

I have made several withdrawals in EUR last half year. The longest has taken about two months. The fastest was carried out within three days (from 8th to 11th October). But I've never withdrawaled more than 1000 EUR in a bunch. I always wait obediently (no support tickets, no nagging). The money always arrives. The last withdrawal was really fast. Only three days, but it was only about 400 euros.

BTC withdrawals are not entirely trivial IMHO, because all criminals trying to hack such services. So you need various levels of security. All exchanges which have made bitcoin withdrawals "particularly easy", have therefore disappeared from the market as far as I've seen.

I'm still relatively new to Bitcoin. But the mutual distrust discourages me. Gox was very good for me so far. I felt safe there.

[adpinbr]

I also withdrew a 3 digit amount of BTC from gox. the amount was reduced from my account but it was never sent out on the blockchain. If anyone has any information about this please PM me I am kind of bugging out.