MtGox withdrawal delays [Gathering]

[Savior]

Notes on International Withdrawals

SEPA Withdrawals:
Due to the daily withdrawal limits imposed by our European bank, all fund transfers to SEPA accounts in Europe will take 8 weeks or more depending on the size of your withdrawal.
£1200 withdraw initiated this morning lets see how long......

Why bother? Will probaly be upto 12 weeks by the times you get them.

[1715267729]

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[1715267729]

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[1715267729]

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[solex]

Someone can help me?, Any ideas please?

Login to the mtgox IRC channel and chat directly. Save the text of the session for reference afterwards.

[RaTTuS]

Notes on International Withdrawals

SEPA Withdrawals:
Due to the daily withdrawal limits imposed by our European bank, all fund transfers to SEPA accounts in Europe will take 8 weeks or more depending on the size of your withdrawal.
£1200 withdraw initiated this morning lets see how long......

Why bother? Will probaly be upto 12 weeks by the times you get them.

basically to see how much - I have had BTC in gox since I bought at £40 IIRC - I had not moved them out but put large sale prices on them - long term

[Slab Squathrust]

Does your Mt. gox account require verification for bitcoin withdraws?  I have cash sitting there that I can't get because they keep denying my verification documents.  At this point I'd be willing to take the hit and get the coins out.  Although I'd probably get a double spend like others have been reporting.  All I know is that the goose that laid the golden egg was given to Tux and he decided to slaughter it.   

[tvbcof]

Does your Mt. gox account require verification for bitcoin withdraws?  I have cash sitting there that I can't get because they keep denying my verification documents.  At this point I'd be willing to take the hit and get the coins out.  Although I'd probably get a double spend like others have been reporting.  All I know is that the goose that laid the golden egg was given to Tux and he decided to slaughter it.   

I only decided to provide my ID docs just before I decided that I wanted to get a fiat withdraw underway.  It was a big deal to me as I value such docs highly.

Mt. Gox rejected my docs initially also for a bogus reason:  My P.O. box appeared on my driver's license along with my physical address since it is common for people in my area to avoid their street mailbox due to theft and vandalism.  After a rather frustrated note, they went ahead and verified me.  By that time I was pissed because I had already sent them my docs and the damage was done.

If Mt. Gox would have been honest and said that they simply cannot send funds to U.S. customers via intl wire and don't know when they will be able to, I would have chosen to not sacrifice my identity documents.  I am rather pissed at them because their deceit cost me the loss of my docs and I value them at upwards of $10k.

In my case I have never had any trouble taking BTC out.  I took out around 50 in Aug before I verified and made a sale of another 50.  I took out my last 5 a week or two ago since I figure there is a good chance that Mt. Gox will totally fold, and even if they do not, I see little reason to attempt to do further business with them unless I am very desperate.

My best guess from experience and research is that Mt. Gox hassles people for ID docs on BTC withdraws mostly when they have significant concerns about fraud or criminality on the part of the user.

[snoopy_nzl]

I withdrew some BTC on the 5th, Initially I was getting the invalid wallet address error message , BTC would leave the wallet then be returned a short time later.
Then a "successful" transfer was made but only successful in that the BTC left my wallet and now seem stuck in transit, im still waiting for the BTC transfer to show on the network, how long have people had to wait for BTC withdrawls to go through when withdrawn from Gox? I still have no idea from support if it will be hours, days weeks or longer to arrive. I get told there are delays but that is kind of obvious.

[Slab Squathrust]

Does your Mt. gox account require verification for bitcoin withdraws?  I have cash sitting there that I can't get because they keep denying my verification documents.  At this point I'd be willing to take the hit and get the coins out.  Although I'd probably get a double spend like others have been reporting.  All I know is that the goose that laid the golden egg was given to Tux and he decided to slaughter it.   

I only decided to provide my ID docs just before I decided that I wanted to get a fiat withdraw underway.  It was a big deal to me as I value such docs highly.

Mt. Gox rejected my docs initially also for a bogus reason:  My P.O. box appeared on my driver's license along with my physical address since it is common for people in my area to avoid their street mailbox due to theft and vandalism.  After a rather frustrated note, they went ahead and verified me.  By that time I was pissed because I had already sent them my docs and the damage was done.

If Mt. Gox would have been honest and said that they simply cannot send funds to U.S. customers via intl wire and don't know when they will be able to, I would have chosen to not sacrifice my identity documents.  I am rather pissed at them because their deceit cost me the loss of my docs and I value them at upwards of $10k.

In my case I have never had any trouble taking BTC out.  I took out around 50 in Aug before I verified and made a sale of another 50.  I took out my last 5 a week or two ago since I figure there is a good chance that Mt. Gox will totally fold, and even if they do not, I see little reason to attempt to do further business with them unless I am very desperate.

My best guess from experience and research is that Mt. Gox hassles people for ID docs on BTC withdraws mostly when they have significant concerns about fraud or criminality on the part of the user.

Yeah they gave me some BS line too when I sent some documents in, including a scan of my passport.  They said my proof of residency was unacceptable.  I argued with them and they said they would consider a W-2 form from last year.  However, I'm not too sure I want to trust them with it as it has my SSN on it. 

[sturle]

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?

My withdrawals have been 7k to 8k EUR.  Only verified account.

The bitcoin network is quite congested now, actually.  I made a bitcoin transfer from bitcoind (bitcoin-qt equivalent) using default fee settings, and it took 7 hours to make it to the blockchain.  When it finally confirmed, it was probably due to one of the outputs being spent with a generous fee which paid for the parent transaction as well.  Some pools, noteably GHash.IO and Eligius, use their own proprietary fee settings, and normal transactions don't always make their standards.  Stay away from those pools if you mine.  Those pools delay transactions for their own profit (smaller blocks propagate faster, and are less likely to get orphaned), and stand in the way of further growth.

[sturle]

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/

thank you, looks like the typical hacker shit. no clue about business! they never learn it. Hackers are in 99% horrible businessmen. i would say gtfo

Yeah.  Like Elon Musk.  Bill Gates.  Mark Shuttleworth.  They should have attended business schools instead!

[qxzn]

Some pools, noteably GHash.IO and Eligius, use their own proprietary fee settings, and normal transactions don't always make their standards.  Stay away from those pools if you mine.  Those pools delay transactions for their own profit (smaller blocks propagate faster, and are less likely to get orphaned), and stand in the way of further growth.

Can you post some links to further information about the behaviors of these pools?

Thanks.

[sturle]

Some pools, noteably GHash.IO and Eligius, use their own proprietary fee settings, and normal transactions don't always make their standards.  Stay away from those pools if you mine.  Those pools delay transactions for their own profit (smaller blocks propagate faster, and are less likely to get orphaned), and stand in the way of further growth.

Can you post some links to further information about the behaviors of these pools?

Here is one from Eligius: http://eligius.st/~gateway/faq-page/faq-5

I don't have any policy info from GHash.IO.  I suspect they use the same pool software with the same default settings.  You can see it from their behaviour when they find consecutive blocks on http://blockchain.info.  Both leave high priority low fee transactions in the queue.  Most other pools will reserve some space for high priority no fee transactions in each block.  While bitcoin-qt have a configured fee per kB, Eligius have their limit set at 512 bytes.  Transactions between 512 and 1000 bytes in size may get stuck for a long time, because bitcoin-qt will send them at 0 fee if the priority is high enough, and Eligius/Eloipool demands a fee at 512 bytes or more.

Priority is calculated from age of inputs, size of outputs and total transaction size.  I don't remember the exact details.  There is a larger priority penalty for the input set than the output set, to encourage sending multiple outputs in one transaction.

[naur]

which date is the lastest withdrawal of USD from Mtgox?

 

[mp420]

which date is the lastest withdrawal of USD from Mtgox?

 

Latest without the emergency fee would probably be from June or July. For all practical purposes that queue is not progressing. Latest with the 5% fee is probably a few weeks old.

[mp420]

Looks bad for the SEPA withdrawals made now or in the future:

MtGox monthly SEPA quota: 3M€
MtGox current SEPA queue (according to Gox): 6 weeks
MtGox EUR volume in the last 6 weeks: about 23 M€

So, it may be that SEPA withdrawals made today might take 8 months before they're processed.

If Gox can get licenced in the EU and raise their quota, this may be solved almost instantly (there may be quotas that affect even licenced financial entities, but they're obviously MUCH higher).

[antirack]

What makes you think that their EUR volume is equal to their SEPA withdrawals?

[mp420]

What makes you think that their EUR volume is equal to their SEPA withdrawals?

Nothing, but it's the only measure I have that could have any relevance. Also, I think people tend day trade USD and use other currencies only for deposits and withdrawals (straight selling and buy-and-holding), because of the shared orderbook.

I admit 23M is a close to worst-case scenario. But I don't think that's too far off. Were into several months easily if the trade volume has any correlation with the withdrawal volume.

[X68N]

Hello,

i recieved my coins after 30h.
Until today (1,5 days later) they never informed me about it or replied on my support ticket.
I will use them never again. So they "Goxed" me only once, i learned from it.

A business partner which lies to you and didnt communicate when a problem occurs is more then useless.
Smells like fraud. Not trustworthy anymore.
This should be a lesson to everyone.
-> Gox is a sinking ship. <-
They will take the cash + the coins with them.

[wuala]

Hello,

i recieved my coins after 30h.
Until today (1,5 days later) they never informed me about it or replied on my support ticket.
I will use them never again. So they "Goxed" me only once, i learned from it.

A business partner which lies to you and didnt communicate when a problem occurs is more then useless.
Smells like fraud. Not trustworthy anymore.
This should be a lesson to everyone.
-> Gox is a sinking ship. <-
They will take the cash + the coins with them.

I have a withdraw still "invisible" neither in blockchain nor in my wallet...

No support response...

[frito]

about 3 months ago I withdrew EUR, it arrived in 3 days.
A month ago I withdrew BTC it took 20 mins.
I guess I got lucky.

I do not understand why mtgox doesnt hire some firm to negotiate some new banking partners for them. Bitstamp has no issues(or do they?, got no experience).

How about Switzerland or HK....

[chungenhung]

which date is the lastest withdrawal of USD from Mtgox?

 

Latest without the emergency fee would probably be from June or July. For all practical purposes that queue is not progressing. Latest with the 5% fee is probably a few weeks old.

Regular USD withdraw I am still waiting from June and still nothing
5% fee withdraw I am waiting for 3 weeks, and still nothing

So, it can take forever.