Are MtGox withdrawls delayed to artificially keep the Bitcoin price high?

[bernard75]

I am a bit confused lately, is Europe a country now?

It doesnt really matter if its Austria, Germany or the Netherlands, they all belong to the same economic community with the same currency, laws and regulations.
Seems like you need to read up a little on the old continent across the pond.

[bitcoinbear]

I am a bit confused lately, is Europe a country now?

It doesnt really matter if its Austria, Germany or the Netherlands, they all belong to the same economic community with the same currency, laws and regulations.
Seems like you need to read up a little on the old continent across the pond.

It just seems like people are not sure whether it is a country or not. If somebody asks what country I live in, I say "the United States", not "Michigan". I asked which country you live in, you said "Euro", is the EU on the same level as the US? In a list of countries by population should we put the EU (500M) above the US (300M), or should we list each state separate (Germany, France, Italy, etc)? Each of the EU countries still has their own seats at the UN, are they going to be combined at some point to just have on UN seat and one team at the olympics?

[01BTC10]

You are right and BTC-E is making fiat deposit difficult on purpose to keep bitcoin price low so they can buy cheap bitcoins for themselves and their Russian friends.  

[bernard75]

@bitcoinbear
Sorry, i dont see how that is relevant for the discussion.
There are basically 2 notworthy exchanges in Europe.
One is not really an exchange and the other one is dealing in $.

[bernard75]

You are right and BTC-E is making fiat deposit difficult on purpose to keep bitcoin price low so they can buy cheap bitcoins for themselves and their Russian friends.  

Nope, they are trying to stay away from fiat processing, but you already know that.
Anyway im not prepared to trust my assets to an exchange where te secret service can waltz in at any moment.

[misterbigg]

I've been doing daily $10,000 wire transfers out of MtGox and the money has been appearing in my account within 24 hours (shockingly).

[glendall]

I started an OKPAY withdrawal from GOX.

I'll really happy if it takes less than 4 days... last time I did it, it was ridiculous...

[bitcoincraps]

1. Keeping the price up by delaying wire transfers will result in a big and fast decrease of customer's number. A smaller number of customers will result in smaller transaction fees which equals smaller profits. Much smaller profits than keeping the price down and customers happy.

2. Delaying payments will also result in a higher number of withdraw requests because of the panic created. A big number of withdraws will further increase the payment delays. The more increased payment delays will result in more withdraw requests  and so on until the payments COMPLETELY STOPS.

MtGox has over $100 millions in deposits and if they fall a lot of bitcointalk users will loose a lot of fiat. Some of them will loose money because the btc value will decrease fast, others will loose their fiat mtgox deposits.

So they prefer to invent thousands of reasons for MtGox delays. "They want the price high", "keep calm, they have bank limits", "no way, they have tons of money but very few employees".....

THE ONLY REASON A COMPANY IS DELAYING PAYMENTS TO CUSTOMERS IS THAT THE COMPANY IS RUNNING OUT OF CASH !!!!

Simple as that.

[szita2000]

All I know is that I requested a withdrawal on the 23rd of May and about one month later my payment is not even processed yet. This is artificial, the only other option is that they don't have the money to pay.