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Author Topic: MtGox withdrawal delays [Gathering]  (Read 879580 times)
papamoi
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November 09, 2013, 07:44:35 AM
 #2341

Questions for you guys

if bitstamp or else have same exchange rate or better than cheatgox ,why people are still using them?

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naur
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November 09, 2013, 08:29:21 AM
 #2342

do you have any proof that Bitstamp operates illegal?!?
Proof: They issue Ripple USD (electronic money according to 2009/110/EC) without the required license.

There are grey areas as well.  E.g. Bitstamp don't think they need to be licensed as a payment provider to operate at this scale, while MtGox's attorneys think MtGox do.  MtGox operates safely by staying within limits while applying for a license.  Bitstamp may hit a brick wall if regulators decide they do need a license.  (Assuming Bitstamp process roughly the same number of fiat transactions, but their number may be significantly lower of course.)

In different country,  the view of govement is different at bitcoin. US GOV thinks MTGOX is very helpful to dark econmy(like SL/money laundry etc) and set many limits to MTGOX.   Bitstamp already requests personal information when user want to make bitcoin trade in Bitstamp.  Many small bitcoin exchange websites have been created in last two years. All of them to be closed is impossible.
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November 09, 2013, 09:47:04 AM
 #2343

So many trolls hating on mtgox, reminds me of the 2011 spectacle. Good thing I didn't listen then, and won't listen now. Still haven't lost a single bitcoin to faulty services, unlike tradehill and bitcoinica that was promoted as 10x as safe as mtgox back then by 90% of the forum posts. I still don't get those who trust bitstamp over mtgox, but that is just my own view perhaps. Seems alot of people are confusing security with fast money transfers. Which is probably because the other exchanges don't have the same volum yet anyway .. or because they don't prioritize security over speed.
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November 09, 2013, 05:29:47 PM
 #2344

So many trolls hating on mtgox, reminds me of the 2011 spectacle. Good thing I didn't listen then, and won't listen now. Still haven't lost a single bitcoin to faulty services, unlike tradehill and bitcoinica that was promoted as 10x as safe as mtgox back then by 90% of the forum posts. I still don't get those who trust bitstamp over mtgox, but that is just my own view perhaps. Seems alot of people are confusing security with fast money transfers. Which is probably because the other exchanges don't have the same volum yet anyway .. or because they don't prioritize security over speed.

Minor point of correction.  Mt. Gox did indeed lose BTC in a very real way.  They sent a weeks worth of profit into a black hole once due to a coding error, and those coins are completely gone from circulation forever.  They made their customers whole out of their own profits of course.  Mt. Gox has also been hacked and lost data to an insider.

In contrast, Tradehill was never to my knowledge hacked.  Some people claim that they were never made whole after the various Tradehill-I shutdown, but the same claim is made for every service that shuts down.  All I can say is that I received a check for my fiat balance in full and in a timely manner, and of course I had the opportunity to withdraw my BTC balance at my leisure.  I never kept a BTC balance with them anyway.

At the end of the day, Tradehill made me whole while Mt. Gox has been sitting on my $5k for three months now and there is no sign that I will ever get my funds...other than it remaining vaguely possible since they have yet to close shop and take off with the money.

Currently, Bitstamp is a shitty place to sell because more desperate small-time/crooked sellers are there pushing the price down.  Bitcoin-E even worse.  In any event, I would not do business with either as long as they are not up-front about who I'm entrusting funds (and more importantly, my identity doc scans) to.

Coinbase is really coming through for me as an American seller who has no criminal things going on.


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November 10, 2013, 05:30:31 AM
 #2345

So many trolls hating on mtgox, reminds me of the 2011 spectacle. Good thing I didn't listen then, and won't listen now. Still haven't lost a single bitcoin to faulty services, unlike tradehill and bitcoinica that was promoted as 10x as safe as mtgox back then by 90% of the forum posts. I still don't get those who trust bitstamp over mtgox, but that is just my own view perhaps. Seems alot of people are confusing security with fast money transfers. Which is probably because the other exchanges don't have the same volum yet anyway .. or because they don't prioritize security over speed.

Stockholm syndrome?

I personally refuse to use gox anymore as they treat their customers like they dont matter.

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posormo
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November 10, 2013, 10:27:36 AM
 #2346


At the end of the day, Tradehill made me whole while Mt. Gox has been sitting on my $5k for three months now and there is no sign that I will ever get my funds...other than it remaining vaguely possible since they have yet to close shop and take off with the money.


Or you can buy 20BTC and have your money out in an hour or two.   But then you wouldn't have a reason to bitch and moan I suppose.


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November 10, 2013, 12:13:40 PM
Last edit: November 10, 2013, 01:00:40 PM by pedro82
 #2347

" 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. "



This guys have no sense of absurd at all !!! No more gox for me !
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November 10, 2013, 03:40:16 PM
 #2348

Questions for you guys
if bitstamp or else have same exchange rate or better than cheatgox ,why people are still using them?
Because MtGox has a superior API, superior features (e.g. multi-currency trading) and superior order book depth.  And people trust MtGox more than Bitstamp.  (Yes, really.)

Sjå https://bitmynt.no for veksling av bitcoin mot norske kroner.  Trygt, billig, raskt og enkelt sidan 2010.
I buy with EUR and other currencies at a fair market price when you want to sell.  See http://bitmynt.no/eurprice.pl
Warning: "Bitcoin" XT, Classic, Unlimited and the likes are scams. Don't use them, and don't listen to their shills.
joesmoe2012
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November 10, 2013, 03:46:20 PM
 #2349

Best of luck to everyone. I'm finally 100% out of gox. They sent me my last few hundred coins just after the crash (took 4 days to withdraw BTC).

This thread was fun while it lasted, but glad its no longer relevant.

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November 10, 2013, 04:48:02 PM
 #2350

Here is a nice page documenting MtGox BTC withdrawal delays and the probable reasons.  The most common reason is no fee (chosen by the user).  There are some very large transactions where the fee is too low, and some where I don't understand the reason for the delay.  Everyone who have been waiting more than two hours should be able to find their withdrawal there.

Sjå https://bitmynt.no for veksling av bitcoin mot norske kroner.  Trygt, billig, raskt og enkelt sidan 2010.
I buy with EUR and other currencies at a fair market price when you want to sell.  See http://bitmynt.no/eurprice.pl
Warning: "Bitcoin" XT, Classic, Unlimited and the likes are scams. Don't use them, and don't listen to their shills.
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November 11, 2013, 07:07:17 AM
 #2351

So many trolls hating on mtgox, reminds me of the 2011 spectacle. Good thing I didn't listen then, and won't listen now. Still haven't lost a single bitcoin to faulty services.... Seems a lot of people are confusing security with fast money transfers.
One could have said the same thing about Bernie Madoff's fund right up to the bankruptcy.
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November 11, 2013, 12:46:21 PM
 #2352

Tested 7.5 BTC into Gox and withdrew a day later with paid fees for testing purposes.
The transaction appeared in the blockchain in less than 10 minutes.
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November 11, 2013, 03:00:50 PM
 #2353

I finally ate the loss.

July 2nd: Requested SWIFT for large 4 figure sum.
Waited 110 days. No transfer.

Oct 21st: Accepted their proposal for 5% charge for 'urgent' withdrawal
Waited 16 days. They still couldn't do it.

Nov 7th: Requested return of funds to trading account
Done in 24hrs or so

Nov 11th:Purchase bitcoin and withdrew.
Done in less than 1 hr.


Pretty disappointed with MtGox. Not because they had problems, I know they are fighting in a lot of corners. I'm not even particularly annoyed that they lie continually - that might be a necessity to prevent a run. I'm annoyed that they accepted trading fees, and gained interest on my money for 4 months, and think it's okay to pocket that despite having provided no service, while I bore all the risk.


HODLCoin ANN - 5% Interest. No Staking Req. Term Deposits 10%. Solo Mining.http://hodlcoin.com/
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November 11, 2013, 05:54:40 PM
 #2354

I finally ate the loss.
...

I'm not letting them of the hook so easily.  Mt. Gox is going to be stuck with the $5k liability to me until they pack up shop and run, send me the wire, or until they pay me BTC valued at mid-Aug rates.


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November 11, 2013, 11:49:58 PM
 #2355

https://support.mtgox.com/entries/23268130-Important-Update-for-Accounts-in-Japan

Quote
We've formed a new banking relationship formed with JapanNet Bank, and as a result Mt. Gox customers in Japan must make all domestic Japanese Yen (JPY) deposits to our JapanNet Bank account.

Quote
All JPY withdrawals placed before 4pm Tokyo time on banking days are now processed the following banking day, and will be sent from our JapanNet Bank account.


The Times 03/Jan/2009 Chancellor on brink of second bailout for banks
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November 11, 2013, 11:52:14 PM
 #2356

What's the latest processed USD wire? Do they even wire out anything at all?

"Feeeeed me Roger!"  -Bcash
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November 12, 2013, 12:04:57 AM
 #2357

Regular USD wires are stuck back in June. 5% fee manual withdrawl wires are backlogged a few weeks (and I suspect growing rapidly).

Buy & Hold
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November 12, 2013, 12:32:12 AM
 #2358

Best of luck to everyone. I'm finally 100% out of gox. They sent me my last few hundred coins just after the crash (took 4 days to withdraw BTC).

This thread was fun while it lasted, but glad its no longer relevant.


glad to hear you were able to get out finally
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November 12, 2013, 01:55:57 AM
 #2359

I had a similar story as joesmoe. But within the EU part of gox.

I requested a withdrawal for middlish 4digit sum, about 8 weeks ago.

Mt.gox said many times when i made a ticket, that the funds would come "soon" and said:

5 weeks ago: "in about 2 weeks"
4 weeks ago: "due to a huge backlog more than 2 weeks"
2 weeks ago: "in the next 4 weeks"

fuck them.

1 week ago i requested to cancel my withdrawal. (there is no 5% emergency fee afaik)

Then i waited for the market to reach parity or close to parity with bitstamp.  When that happend i just bought bitcoins and wanted to sell em asap.

BUT..... Gox fucked me again. (knew i wouldn't be so easy of the hook). I requested a BTC withdrawal and suddenly the TXID was not found anywhere. And support just didn't help me at all. They said it can take up to 24h because of my pc. (LOL) yeah so blockchain.info fucked up, right, not them. Then 32 hours later the funds came and i sold with a small prifit because of rising prices.

Then today this beauty came:  (7 fking days after the incident)

Eiden, Nov 12 09:33 (JST): 

Hello,

Thank you for the email. Sorry for the delay in responding. On checking this further we find that your BTC withdrawal has been processed from our end. Please check this link:

LINK

We apologize for the inconvenience this may have caused.

Best regards,



GG no RE motherfkrs

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November 12, 2013, 07:45:52 AM
 #2360

Anyone recieved euro SEPA transfers from October yet?
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