MtGox withdrawal delays [Gathering]

[pedro82]

This is a customer service, presented by a CEO of a company that some few exotic bitcoiners defend and promote. It's not fake, it's real:

https://www.youtube.com/watch?feature=player_embedded&v=ob9Ak1t09Ao

Karpeles exótic fashion  or maybe the ultimate prove that all invited for BTC 

[pedro82]

https://www.youtube.com/watch?feature=player_embedded&v=ob9Ak1t09Ao

So WHERE IS OUR MONEY ?

Isn't that obvious ? Look at that fancy clothes man ! do you think it's cheap to dress up like that  

[mitus-2]

There seems to be good news everywhere that Gox will resume BTC TX soonish. Any scenario where this could not happen? Unless Gox is developing a huge scam, TX should resume soon, right?

All winds blow to they will be back on track very soon  

Source for the good news?

They changed my 7 jan SEPA withdraw status to pending , i see this as a sign like: let us clean the house before opening the btc gates, and whoever ask for fiat should now deposit new fresh money if wants to buy our cheap btc !

good news everyone!!!!!

[rpietila]

This is a customer service, presented by a CEO of a company that some few exotic bitcoiners defend and promote. It's not fake, it's real:

https://www.youtube.com/watch?feature=player_embedded&v=ob9Ak1t09Ao

Considering that this thread used to be important info source (given total and utter lack of honest communication from Gox side), I plead the forum administration to impose a minimum 3 months account in order to post here. This trollflood restricts quality posters because they don't want their valuable posts to be flushed down with the turds.

It is interesting the goxBTC is trading at only 50-60% of bsBTC. Have you thought about the following scenario:

It makes sense for Gox insiders to sell, because they know whether Gox will go belly up or not. If it is scheduled to go belly up, they have stolen all the actual BTC there long in advance. What they are selling is Gox IOU's for BTC that they exchange for Gox IOU's of dollars.

When the bankruptcy is executed, the BTC IOU's are assigned fiat value according to the day of bankruptcy. So the cheaper they can push them, using all the methods available, the less they owe. Legally, Gox can pay all that is owed, but the 2 years the court process takes, makes all the difference on who holds the goodies in the end.

If for example, BTC1,000,000 was owed (amount can be even larger - my personal high point was about BTC7,000 in Gox last year, and I am some sort of knowledgeable about Bitcoin services compared to many large holders that I know), and the price is $200, the principals can appease their conscience by paying $200 million. It is not inconceivable that BTC = $100,000 by then, which means that they have completed a heist worth BTC998,000 with incalculable fiat value, because such stashes are not for sale.

It is unlikely that Mark could be the mastermind..

The price of liberty is eternal vigilance.

[Bitsinmyhead]

When the bankruptcy is executed, the BTC IOU's are assigned fiat value according to the day of bankruptcy. So the cheaper they can push them, using all the methods available, the less they owe. Legally, Gox can pay all that is owed, but the 2 years the court process takes, makes all the difference on who holds the goodies in the end.

You make some good points, but there is no way a court will use the Gox price when they set the market value of the BTC. For this plan to work they will need to somehow crash the price at the other exchanges as well. If your theory is correct we will see someone dump huge amounts all over the place and then have Gox declare bankruptcy.

[donk4u]

This is a customer service, presented by a CEO of a company that some few exotic bitcoiners defend and promote. It's not fake, it's real:

https://www.youtube.com/watch?feature=player_embedded&v=ob9Ak1t09Ao

If gox isn't insolvent I don't understand why the 2 guys who had around 100 coins locked up didn't open a bankaccount in japan and have the money transfered. Just ridiculous that they went all that way if gox was reputable would have paid them their bitcoins thru alternative means.

[Bitsinmyhead]

Unfortunately the only thing that is a worse experience than dealing with Gox is trying to open a bank account as a foreigner in Japan.

[manfred]

Unfortunately the only thing that is a worse experience than dealing with Gox is trying to open a bank account as a foreigner in Japan.

+1

[trab]

They changed my 7 jan SEPA withdraw status to pending , i see this as a sign like: let us clean the house before opening the btc gates, and whoever ask for fiat should now deposit new fresh money if wants to buy our cheap btc !

My SEPA withdrawals from the 2nd, 3rd and 4th still have status "Confirmed". I had no withdrawals in the 20 days before that.
I think you're making up some positive story to get people to "deposit new fresh money" at MtGox.

[rpietila]

When the bankruptcy is executed, the BTC IOU's are assigned fiat value according to the day of bankruptcy. So the cheaper they can push them, using all the methods available, the less they owe. Legally, Gox can pay all that is owed, but the 2 years the court process takes, makes all the difference on who holds the goodies in the end.

You make some good points, but there is no way a court will use the Gox price when they set the market value of the BTC. For this plan to work they will need to somehow crash the price at the other exchanges as well. If your theory is correct we will see someone dump huge amounts all over the place and then have Gox declare bankruptcy.

When I lift my eyes, this is all I see around me...

[Newar]

If gox isn't insolvent I don't understand why the 2 guys who had around 100 coins locked up didn't open a bankaccount in japan and have the money transfered.

It's not possible to open a bank account in Japan without residency.

[alfabitcoin]

If gox isn't insolvent I don't understand why the 2 guys who had around 100 coins locked up didn't open a bankaccount in japan and have the money transfered.

It's not possible to open a bank account in Japan without residency.

Bank in europe allow to open nonresident account, not sure for bank in japan.

[donk4u]

If gox isn't insolvent I don't understand why the 2 guys who had around 100 coins locked up didn't open a bankaccount in japan and have the money transfered.

It's not possible to open a bank account in Japan without residency.

aside from all that I am sure could have found an alternative way to pay those 2 guys off if indeed solvent

[MrWr1TeR]

There seems to be good news everywhere that Gox will resume BTC TX soonish. Any scenario where this could not happen? Unless Gox is developing a huge scam, TX should resume soon, right?

All winds blow to they will be back on track very soon  

Source for the good news?

They changed my 7 jan SEPA withdraw status to pending , i see this as a sign like: let us clean the house before opening the btc gates, and whoever ask for fiat should now deposit new fresh money if wants to buy our cheap btc !

I think you talk BS... my SEPA from 3 Jan. is still on 'confirmed'.

[mike81]

For what it's worth, i just tested a 1 BTC withdrawal from Bitstamp. It hit my wallet 2 minutes later. They seem to be back online.

[donk4u]

For what it's worth, i just tested a 1 BTC withdrawal from Bitstamp. It hit my wallet 2 minutes later. They seem to be back online.

worth ignoring you thanks for your thoughtfull well thought out post

[mike81]

For what it's worth, i just tested a 1 BTC withdrawal from Bitstamp. It hit my wallet 2 minutes later. They seem to be back online.

worth ignoring you thanks for your thoughtfull well thought out post

Thanks for that. I'll just let you read: https://bitcointalk.org/index.php?topic=459836.120

[donk4u]

Looks like strudle is proven to be a dupe yet again as got all excited when bitstamp halted trading .

[pedro82]

They changed my 7 jan SEPA withdraw status to pending , i see this as a sign like: let us clean the house before opening the btc gates, and whoever ask for fiat should now deposit new fresh money if wants to buy our cheap btc !

My SEPA withdrawals from the 2nd, 3rd and 4th still have status "Confirmed". I had no withdrawals in the 20 days before that.
I think you're making up some positive story to get people to "deposit new fresh money" at MtGox.

If you read my posts here you will see easily that i don't work for gox... can also tell you that i don't trust them, that's why i always trade low amounts at these exchangers.

 I have a small 150 Eur transfer, that's probably why it went first. Although i think that transfer is handled, money did not hit my account yet !

I suppose that they will also process early jan.2014  transfers very soon , by then i hope to see here an apologise from you.

Take care .

[pedro82]

There seems to be good news everywhere that Gox will resume BTC TX soonish. Any scenario where this could not happen? Unless Gox is developing a huge scam, TX should resume soon, right?

All winds blow to they will be back on track very soon  

Source for the good news?

They changed my 7 jan SEPA withdraw status to pending , i see this as a sign like: let us clean the house before opening the btc gates, and whoever ask for fiat should now deposit new fresh money if wants to buy our cheap btc !

I think you talk BS... my SEPA from 3 Jan. is still on 'confirmed'.

If you read my posts here you will see easily that i don't work for gox... can also tell you that i don't trust them, that's why i always trade low amounts at these exchangers.

 I have a small 150 Eur transfer that's probably why it went first. Although i think that transfer is handled, money did not hit my account yet !

I suppose that they will also process early jan.2014  transfers very soon , by then i hope to see here an apologise from you.

Take care .