MtGox withdrawal delays [Gathering]

[AFox]

I see a bunch of people saying that MtGox is going to go out of business.
This is for those people http://bitbet.us/bet/751/mtgox-out-of-business-in-2014/

[jack0m]

From last update i read: "Smaller transactions should be fine in the meantime"

@MtGox, Please define "Smaller". I made three attempts to withdraw 0.8 BTC, then 0.5 and 0.4999 respectively, all ended up in a failure.
So how small must be any "smaller transaction" to succeed? Smaller than what??

Besides, I have a SEPA withdrawal still in confirmed status since 2014-01-02 21:31:32 GMT

Weren't they processing Dec 30th requests on Sunday, according to sturle?

Any news highly appreciated

Please DO tell us when your SEPA has finally gone out, so we can get a rought estimate how delayed are they...

I'll gladly do it, when (if?) that happens

[cedivad]

Looks like my avatar is relevant like never before.

Btw, i think that no one here knows the true reasons behind what's happening. I at least don't see any rationale one, apart from the one from NewLiberty.
It will be interesting to follow it as the story unfolds.

[bitcool]

If there's problem in its "system", what prevents an exchange from manually sending customers' money back to their rightful owners?

Even for the banksters, not being able to giving customers' money back is a very big deal.

Up until this point, many have been very forgiving to MTGox's fiat withdrawal problems, with the understanding of it's being created by oppressive governments... But not being able to withdraw BTC is an entirely different issue.

Bitcoin community should have zero tolerance on BTC withdrawal problem, it's a telltale sign of fractional reserve and insolvency, no matter what they say.

This is the very problem of current banking system Bitcoin was supposed to address.

[donk4u]

I just got Gox email,  they can't give a definite date for resolution:

-----------------------------
Dear Valued Customer,

We apologize for the delay in reply. We merged the tickets for a better follow up. We can see that your withdrawal is yet to be processed. The transactions are being re-issued automatically.All BTC are safe ,the transaction will be processed and they are not lost or stolen.We are working to resolve the issue, but at this point we are unable to give a definite date of resolution.Please be advised that BTC on MtGox are not fractional.

We apologize for the inconvenience this may have caused and Thank you for your patience.


Best regards,

MtGox Team
https://www.mtgox.com

----------------

@MTGOX please prove the bolded statements. 

I got the same exact email . I wonder what reissued automatically means? In my case it meant after 8 days the withdrawl yet to be processesd  that was being reissued automatically  was timed out by developmental team placed back in my mt gox wallet were it was immediatly stuck again when i reseent. I got the above email 3 times to different tickets

[zyk]

Anybody knows for sure if Mt. Gox is an idependent entity or still legally part of Tibanne Ltd. ?

Thanks for comments

[TheFootMan]

Anybody knows for sure if Mt. Gox is an idependent entity or still legally part of Tibanne Ltd. ?

Thanks for comments

The amount of complaints against MtGox is only growing.

Any sufficiently advanced incompetence is indistinguishable from malice.

They should hire an independent business manager that could see through their current system, and suggest changes. Getting payments done in a timely manner is what's most important, and that should be fixed ASAP.

Mtgox is currently a sinking ship. And it will be abandoned if they don't get their shit together.

[jack0m]

Mtgox is currently a sinking ship. And it will be abandoned if they don't get their shit together.

How is their Market share increasing then? If data reported on http://bitcoinity.org/markets/list?currency=ALL&span=7d are correct, it has been 10% for the past week while it almost doubled in the last 24 hours. I can't really figure out what's going on there

[JCviggen]

How is their Market share increasing then? If data reported on http://bitcoinity.org/markets/list?currency=ALL&span=7d are correct, it has been 10% for the past week while it almost doubled in the last 24 hours. I can't really figure out what's going on there

It's not that hard. Volume on other exchanges is low (particularly China) and people who have money and/or coins in Gox are running around like headless chickens trying to find a way out.

[TheFootMan]

Mtgox is currently a sinking ship. And it will be abandoned if they don't get their shit together.

How is their Market share increasing then? If data reported on http://bitcoinity.org/markets/list?currency=ALL&span=7d are correct, it has been 10% for the past week while it almost doubled in the last 24 hours. I can't really figure out what's going on there

Liquidity alwas increases with volatility. The point I'm making is that someone who does not run a business in a professional way, will slowly lose business, and eventually go bankrupt and out of business.

[jack0m]

Mtgox is currently a sinking ship. And it will be abandoned if they don't get their shit together.

How is their Market share increasing then? If data reported on http://bitcoinity.org/markets/list?currency=ALL&span=7d are correct, it has been 10% for the past week while it almost doubled in the last 24 hours. I can't really figure out what's going on there

Liquidity alwas increases with volatility. The point I'm making is that someone who does not run a business in a professional way, will slowly lose business, and eventually go bankrupt and out of business.

sure, and the way they are throwing away the fortune they've been sitting on is disgraceful

[rpietila]

Last time I have gotten something through is: 2014-02-05 07:30:15.

I try every few hours with small sums, so that is quite many tries ago.

The system is either royally messed up, or operated with malignant intention. I do not believe Mark would have such an intention so either the place is operated by aliens, or is in the process of falling into disrepair.

Luckily I am in correspondence with the support, and have voiced my concerns.

[zyk]

Last time I have gotten something through is: 2014-02-05 07:30:15.

I try every few hours with small sums, so that is quite many tries ago.

The system is either royally messed up, or operated with malignant intention. I do not believe Mark would have such an intention so either the place is operated by aliens, or is in the process of falling into disrepair.

Luckily I am in correspondence with the support, and have voiced my concerns.

what are Gox voices telling you ?

we don´t know how the bitcoin-qt client works ?

[zyk]

 or we are busy shorting gox bitcoin - price for our private accounts as we only know how to fuck them up or down......and leaving the empty carcasse to you

 our valued client 

[jwest411]

I tried to withdraw 8 btc yesterday from my gox account and it never appeared on blockchain.

Could anyone explain to me where the money is? I am just a trader and I haven't read the white papers extensively. But if the btc aren't in my mtgox wallet or on the blockchain, where are they?

[vints998]

They send you an email with your "transaction hash".
You might think that if this hash has been generated, then the transaction has been posted.....
How is this hash generated ( in simple terms!)??

[el_rlee]

New bet: http://bitbet.us/bet/751/mtgox-out-of-business-in-2014/

[zyk]

may be you are lucky ...but am willing to bet 1 BTC that at the latest 15. th of march GOX doesn´t exist anymore as an entity which pays back more than 50 cents of money owed

I'm in!  I won a similar bet on betsofbitco.in that MtGox would be sold or closed by the end of 2013, but this didn't happen either.

You want to bet whether Mt. Gox sends me the wire that they've been putting off sending for 1/2 of a year now before I take legal action?

If so, you better hurry.  I've got an appointment with my attorney later today.

did the attorney have an oppinion where to sue them ?  Delaware or Tokyo

[AFox]

New bet: http://bitbet.us/bet/751/mtgox-out-of-business-in-2014/

Already posted :

I see a bunch of people saying that MtGox is going to go out of business.
This is for those people http://bitbet.us/bet/751/mtgox-out-of-business-in-2014/

[donk4u]

not processing a transaction for 8 days then putting it back in mt gox wallet then getting it stuck again and not responding if these people are not thieves and crooks they are incompetent which I doubt as they never had problems processing transactions before. Makes way more sense they are indeed busto. I t dosen't take a competent person 2 weeks with no solve to send a bitcoin transaction fuck you gox. Meanwhile i paid a 200 plus markup and bitcoin has gone from 820 to 770 while my coins are stuck for 2 weeks.