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Author Topic: MtGox withdrawal delays [Gathering]  (Read 870377 times)
gnix72
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November 15, 2013, 07:07:20 PM
 #2401

  • The spread between Bitstamp (Europe/international) and CampBX (USSA) is much higher than the spread between MtGox and Bitstamp

This is well understood to be because Dwolla pulled the rug out from underneath them.  Once ACH comes online in a few days, CampBX will be back in line with the "non-Gox" USD exchanges...that is, exchanges that you can actually pull USD out of.

And I trade on Bitstamp not because I'm planning to pull my USD out daily or something, but that I know at SOME POINT I will want to pull some USD out, and I would really like to have that option.

Plus, in the event Mt. Gox ever does open up USD transfers, although why bother at this point -- but if they did, then arbitrage would immediately send the Gox price down and raise up all other USD liquid exchanges to level the prices out.
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deadweasel
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November 15, 2013, 07:10:29 PM
 #2402

This might be true, of course, but once liquidity returns, wouldn't trust return as well?

Probably, because in doing so Gox would have proven they went through hell and back to solve their banking problems. To me that would be worth more than an exchange like Bitstamp which has not had many problems and could very well be next in line to have their accounts shuttered.

But in so doing, has had zero communication with us.  It is incumbent upon businesses to communicate with their desired customers what the issues are and how they are addressing them.  Mt. Gox has never been open about communication, they instead hide behind closed doors and wait until good news before they say anything at all.  Their last post on facebook was Aug 2, their last main press release -- not discounting some silly ones that occurred in between, the last REAL news from this massive organization is Aug 2?

If any major company operated this way they would already be out of business, the only reason Mt. Gox hasn't...is that fundamentally, few of you are businesspeople and/or, they have a customer base in Japan that is happy with their communication and performance.

Trust is everything in business, and once lost nearly impossible to regain.  The only way I will ever do business with Gox again is if I have absolutely no other alternative.  I do not and can not trust people who are unwilling to communicate with me.

Obviously the Yen works great there, so unless you have a Japanese bank account, my advice would be run to the hills, take the one time hit, sell it on coinbase and get on with your life.

^
Good Advice.

Gox is likely running a fractional reserve system.  It breaks down often and will continue to do so allowing your funds to be diverted for their profit.

madpoet
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November 15, 2013, 07:30:24 PM
 #2403

I really, really wish I had read this thread before trying to get my USD out of Mt. Gox this morning.  Crap.  Had no problems last month so didn't even hesitate.
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November 15, 2013, 08:41:24 PM
 #2404

I really, really wish I had read this thread before trying to get my USD out of Mt. Gox this morning.  Crap.  Had no problems last month so didn't even hesitate.

cancel your transfer (via support) and withdraw coins to another exchange to get usd.

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November 15, 2013, 09:08:36 PM
 #2405

I really, really wish I had read this thread before trying to get my USD out of Mt. Gox this morning.  Crap.  Had no problems last month so didn't even hesitate.

cancel your transfer (via support) and withdraw coins to another exchange to get usd.


Bailing now before there is a giant price differential makes sense for anyone who is mostly driven my financial considerations.

To bad one can never get their identity documents back.  It's completely up to Mt. Gox what happens to them now.  And it would likely be quite trivial for an employee to put them on a thumb drive on his/her way out the door.


db
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November 15, 2013, 10:53:53 PM
 #2406

Got it all now. Some of it over six months late.

2013-04-12: 1000 EUR, arrived 2013-05-21 (39 days)
2013-04-15: 1000 EUR, arrived 2013-05-24 (39 days)
2013-04-17: 1000 EUR, arrived 2013-06-04 (48 days)
2013-04-18: 1000 EUR, arrived 2013-06-13 (56 days)
2013-04-19: 1000 EUR, arrived 2013-07-22 (94 days)
2013-04-22: 1000 EUR, arrived 2013-07-30 (99 days)
2013-04-23: 1000 EUR, arrived 2013-08-12 (111 days)
2013-04-24: 1000 EUR, arrived 2013-09-02 (131 days)
2013-04-25: 1000 EUR, arrived 2013-11-05 (194 days)
2013-04-28: 1000 EUR, arrived 2013-11-05 (191 days)
2013-05-23: 7000 EUR, arrived 2013-06-07 (15 days)
naur
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November 16, 2013, 03:03:07 AM
 #2407

Got it all now. Some of it over six months late.

2013-04-12: 1000 EUR, arrived 2013-05-21 (39 days)
2013-04-15: 1000 EUR, arrived 2013-05-24 (39 days)
2013-04-17: 1000 EUR, arrived 2013-06-04 (48 days)
2013-04-18: 1000 EUR, arrived 2013-06-13 (56 days)
2013-04-19: 1000 EUR, arrived 2013-07-22 (94 days)
2013-04-22: 1000 EUR, arrived 2013-07-30 (99 days)
2013-04-23: 1000 EUR, arrived 2013-08-12 (111 days)
2013-04-24: 1000 EUR, arrived 2013-09-02 (131 days)
2013-04-25: 1000 EUR, arrived 2013-11-05 (194 days)
2013-04-28: 1000 EUR, arrived 2013-11-05 (191 days)
2013-05-23: 7000 EUR, arrived 2013-06-07 (15 days)


you withdrawed fund early and have good luck.  many guys still are waiting waiting waiting......
FundsMoney
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November 16, 2013, 06:38:52 AM
 #2408

Got a withdrawal yesterday.
It took 9 days to complete.
The amount was 350eur and it took ~4 eur as a fee , I don't know if my bank did that or mtgox.

Whatever, 9 days is reasonable. I made some other EUR withdrawals, all under 400. Waiting and will update here.

-- if you want this space, PM me --
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November 16, 2013, 06:56:52 AM
 #2409

Can't be SEPA 6 month is way too long!


Got it all now. Some of it over six months late.

2013-04-12: 1000 EUR, arrived 2013-05-21 (39 days)
2013-04-15: 1000 EUR, arrived 2013-05-24 (39 days)
2013-04-17: 1000 EUR, arrived 2013-06-04 (48 days)
2013-04-18: 1000 EUR, arrived 2013-06-13 (56 days)
2013-04-19: 1000 EUR, arrived 2013-07-22 (94 days)
2013-04-22: 1000 EUR, arrived 2013-07-30 (99 days)
2013-04-23: 1000 EUR, arrived 2013-08-12 (111 days)
2013-04-24: 1000 EUR, arrived 2013-09-02 (131 days)
2013-04-25: 1000 EUR, arrived 2013-11-05 (194 days)
2013-04-28: 1000 EUR, arrived 2013-11-05 (191 days)
2013-05-23: 7000 EUR, arrived 2013-06-07 (15 days)


"Feeeeed me Roger!"  -Bcash
sturle
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November 16, 2013, 07:01:30 AM
 #2410

Got it all now. Some of it over six months late.
You would have had all in less than two months if you made one 10k withdrawal instead of 10 times 1k.

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.
sturle
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November 16, 2013, 08:53:43 AM
 #2411

An interresting article in Forbes about the difficulties Bitcoin companies in the USSA have getting bank accounts.  US banks won't deal with Bitcoin companies, and all USD transfers must go via US banks.

If you live in the USSA and you don't believe in Bitcoin, i.e. you plan to exchange your bitcoins to USD at some time in the future instad of using the coins as bitcoins, you should get out now while it is still possible.  USD users should consider Bitcoin a very high risk investment.

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.
OhShei8e
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November 16, 2013, 08:56:07 AM
 #2412

Got it all now. Some of it over six months late.
You would have had all in less than two months if you made one 10k withdrawal instead of 10 times 1k.

Excuse my curiosity. Do you really have no trusted Gox account, only a verified one?

I have a verified account and a payout limit of 1,000 euros a day. I have not tried to withdraw more money yet.

sturle
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November 16, 2013, 09:05:24 AM
 #2413

You would have had all in less than two months if you made one 10k withdrawal instead of 10 times 1k.
Excuse my curiosity. Do you really have no trusted Gox account, only a verified one?
I have a verified account and a payout limit of 1,000 euros a day. I have not tried to withdraw more money yet.
Only verified.  When I got verified I got an e-mail explaining how to increase the limit to the maximum limit for verified users, which is 10000 EUR a day, etc.

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.
OhShei8e
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November 16, 2013, 09:43:32 AM
 #2414

Only verified.  When I got verified I got an e-mail explaining how to increase the limit to the maximum limit for verified users, which is 10000 EUR a day, etc.

I think about it. Withdrawals then maybe go faster. But I do not know. There is that limit for SEPA transfers. I think three million euros currently.

madpoet
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November 17, 2013, 01:16:28 PM
 #2415

How long does it take Mt. Gox to cancel a withdrawal request?  Really want to get my money out but they aren't responding very quickly.
Wassupia
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November 17, 2013, 03:03:02 PM
 #2416

My 750€ sepa withdrawl request from 2013/10/04 finally changed to pending...
faster than I expected lol.

My BTC-address: 1JtgnB6UC5j9gMYzLftVaCmwdPL4PrWeYB
thehun
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November 17, 2013, 06:50:30 PM
 #2417

I have $4101 in my account but I can't request a withdrawal for any amount (the page says I have exceeded my limits or don't have enough funds). I have never requested a withdrawal before and my account is verified, am I missing something?

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chungenhung
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November 18, 2013, 04:33:48 AM
 #2418

I have $4101 in my account but I can't request a withdrawal for any amount (the page says I have exceeded my limits or don't have enough funds). I have never requested a withdrawal before and my account is verified, am I missing something?
yes... u r missing the fact that mtgox doesn't process any withdrawals.

Trading MtGox USD for Dwolla/ACH deposit/Chase cash deposit
https://bitcointalk.org/index.php?topic=90115.0
Buy/Sell Call/Put Bitcoin options https://bitcointalk.org/index.php?topic=99853.0
chungenhung
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November 18, 2013, 04:35:55 AM
 #2419

The 5% fee hit to withdraw is a joke.
Put in a withdraw, and it is 4 days shy of one month, still no money.

Trading MtGox USD for Dwolla/ACH deposit/Chase cash deposit
https://bitcointalk.org/index.php?topic=90115.0
Buy/Sell Call/Put Bitcoin options https://bitcointalk.org/index.php?topic=99853.0
wacked
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November 18, 2013, 05:12:18 AM
 #2420

First, is USD being processed at this time or is the only option to request current BTC on hand and then use an alt-exchange to process to USD.

If they are processing USD, I have a question.

If you submit a withdraw from MtGox and let's say the price is at $500 and they don't "process" your withdraw until 2-4 weeks later, at what price are you being locked into? Are you being locked into the price on the day you initiated the withdraw, or on the day that the actual withdraw takes places. Obviously you would want to have the higher price, assuming it was going up. If the money is still in MtGox while it is "in-process", then they are making money when the price goes up, but taking the difference in the price.

Can someone elaborate on this for me?

Thanks
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