MtGox withdrawal delays [Gathering]

[smoothie]

Monday is going to be an absolute sh#t show  

Remember this: Gox never promised to allow BTC withdrawals on Monday, only an update on their progress.

This is how the long-con perpetuates itself: More excuses and more delays to buy more time to satisfy demand for users' funds (fiat and BTC).

Get your popcorn ready as the fireworks show is just beginning with this.

[smoothie]

Bidding 55% for your gox btc balance, minimum amount 5btc/10goxbtc, max 100btc/200goxbtc. You will do an internal gox transfer to my gox account for the gox coins, I will send you bitcoins free and clear. Your transfer first unless you're really well-known/trusted, or we can do a back-forth with smaller amounts. PM if interested.

Wash your hands of gox once and for all!

This reminds me of when PirateAt40 was closing down and people were paying for Pirate debt. Deja Vu.

Yup. This is exactly like that scenario. Get out while you still can!

For those that werent around for Pirate's default....he never paid for the debt that people sold at a discount (i.e. 50% or less).

[Vigil]

Here's a way this may play out on Monday.

Gox had 40,000 Bitcoins stuck in their withdrawal queue. On Monday, they will have zero, because they are cancelling withdrawals and crediting amounts back to customer accounts within Gox. That's already happening.

This allows them to begin a new round of jerking customers around. All their customers will have to resubmit their withdrawals. Gox then has lots of ways to stall them - they can request reverification of customer identity, claim the destination Bitcoin address is invalid, and such. They've done all of those things before. Then they can stall on moving transactions through states of "pending" to "processed", which they've also stalled on before. Then they can process the outgoing queue slowly, which they've done before.

Meanwhile, the usual Gox shills will be saying "everything is fine now", to discourage people from doing withdrawals. This may buy Gox another month.  

Exactly what i was thinking never required verification before will now demand it i sent in verification 2x they denied it i scanned never told me had to be photo I am forecasting making customers jump thru hoops that customers won't be able to  complete people will eventually give up most likely scenario. It takes 2 weeks now to get verified imagin how much longer they will stall the process if they go that route.  It will take gox weeks and weeks to solve a technical problem that dosen't really exist. I have seen this scenario countless times in these type of schemes . They all start out with support ignoring not responding to customers that is the first step gox has already put people thru.

gox already blatantly lied by saying that the stuck withdrawls were limited to a few users or whatever when in reality it was 6,000 .

It doesn't have to be a photo, that is why it says 300 dpi. You can scan it.

[smoothie]

http://www.reddit.com/r/Bitcoin/comments/1x9gue/my_protest_at_mtgox_offices_5_to_7th_february/

Interesting story...whether it is true (shrug).

Sounds like something they would respond with.

[qxzn]

Now doing both sides.. my bid is 58%, my ask is 93%. Can buy up to 200goxbtc, can sell up to 50goxbtc.

[itsunderstood]

gox now 25USD lower than china, their spread reversed??  At these prices gox is a buy but good luck moving it I guess? 

"For a moment it sounded like a million gox arbitrage traders screamed out and were then silent!" -- Obisatwan Kenoshi

[ImI]

i interpret gox below stamp as a sign that some traders expect a gox bankruptcy and in that case fiat is superior to btc.

[Rampion]

i interpret gox below stamp as a sign that some traders expect a gox bankruptcy and in that case fiat is superior to btc.

Indeed.

[Bimmerhead]

i interpret gox below stamp as a sign that some traders expect a gox bankruptcy and in that case fiat is superior to btc.

Indeed.

Can you tell us why?  Is it because a court won't be willing to assign a fiat value to the BTC lost?

[Rampion]

i interpret gox below stamp as a sign that some traders expect a gox bankruptcy and in that case fiat is superior to btc.

Indeed.

Can you tell us why?  Is it because a court won't be willing to assign a fiat value to the BTC lost?

Just because its even more uncertain.

[ImI]

i interpret gox below stamp as a sign that some traders expect a gox bankruptcy and in that case fiat is superior to btc.

Indeed.

Can you tell us why?  Is it because a court won't be willing to assign a fiat value to the BTC lost?

yes

[itsunderstood]

Yeah but...  It's a commodity.  So, all commodity can be valued, else your fiat aint truly being fair.

[itsunderstood]

Wait, is it possible to fractionalize a commodity as has been done to Federal Reserve Notes?

I mean, debt-as-money has worked, but does that make it better than provable maths?

[Bimmerhead]

Bidding 55% for your gox btc balance, minimum amount 5btc/10goxbtc, max 100btc/200goxbtc. You will do an internal gox transfer to my gox account for the gox coins, I will send you bitcoins free and clear. Your transfer first unless you're really well-known/trusted, or we can do a back-forth with smaller amounts. PM if interested.

Wash your hands of gox once and for all!

This reminds me of when PirateAt40 was closing down and people were paying for Pirate debt. Deja Vu.

Yup. This is exactly like that scenario. Get out while you still can!

For those that werent around for Pirate's default....he never paid for the debt that people sold at a discount (i.e. 50% or less).

Who is the "he" who never paid for the debt that people sold?

[itsunderstood]

...because a fiat HAS to serve as a vehicle for every commodity.  That is to say, both hog bellies and mathscoins (BTC et al) are commodities (bacon, capital flight, etc) which any fiat HAS to step up and value.

Or, perhaps things as we know them, are backward?  Anyway, BTC at < 700 is a deal on any exchange.  Indeed, exchanges are overrated and allow non-miners to make themselves think their coins were earned.  So, if all exchanges go way, still, miners and their database (blockchain) will have value in terms of capital flight, black markets, etc.

[edit]

Now that I think about it, much of cryptocoin's future "surprise" rise, will be a surprise only to those who never knew that databases between nodes, can allow capital flight which violates ALL the rules heretofore, of war and debt, and money.  So, if it be a commodity in the coins offline at Gox, what is that value store?

Paper coins offline at Gox, worth more or less than paper coins (notes of debt) of FRB?  Does Gox mint coins yet, I mean real ones of bullion?

[windjc]

I will give 60% on the dollar up to 100 BTC. For every 1 Gox BTC and I will give you .6 non-Gox BTC.

Willing to use escrow.

[Bitsinmyhead]

Offering 66.67% for gox BTC.

Even if gox is completely messed up, the worst that will happen is that everyone who has money/BTC there will need to wait a long time and then have to take a haircut. I highly doubt it is possible to come up with a realistic scenario where this will be more than 50%, unless it somehow turns out Mt.Gox is run by the yakuza. The situation here is so different from the pirateat40 situation that it just makes everyone who compares it to that look very stupid, unless of course they are trying to create panic

[cryptog1]

Has anyone had a JPY withdrawal processed recently? I still have two stuck on "confirmed" from 14 and 15 January.

Stuck since the 29th (UFJ)

Here, I made 2 requests on 21 and 22 of Jan, respectively. 18days have passed. Shinsei bank. "Confirmed"-stuck.
From I ve read so far the current estimate is 25 days for non JNB accounts (8days for JNB it seems).
Someone said he cancelled the withdrawal.
How do you cancel a withdrawal in mtgox once it has been confirmed?

[mitus-2]

WTB up to 20 mtgox BTC at 60% price. payment through SEPA, transfer through escrow.
PM me if interested

[yrtrnc]

http://www.reddit.com/r/Bitcoin/comments/1x9gue/my_protest_at_mtgox_offices_5_to_7th_february/

Heres a post on reddit about gox!