MtGox wires ARE delayed

[ineededausername]

I am talking to mtux on irc right now, and trying to get everyone an answer on how long the queue is.  Hopefully we have some numbers soon

[MPOE-PR]

Certainty not "FUD" , at least 10+ different people reporting delays....in fact looks like you are only person I've seen reporting a quick processing time.

10+ different people?
Like 0.001 % of the overall?

If fifty actual people still use MtGox at this point it'd be a miracle.

(BTC dust "trades" don't count as people.)

[Bugpowder]

Certainty not "FUD" , at least 10+ different people reporting delays....in fact looks like you are only person I've seen reporting a quick processing time.

10+ different people?
Like 0.001 % of the overall?

If fifty actual people still use MtGox at this point it'd be a miracle.

(BTC dust "trades" don't count as people.)

If nobody is using Mt. Gox, nobody is using any exchange.  Actually, volumes are low in everything but ASICMINER these days.  Champagne bubbles give a bad hangover.

Code:

Time span: 24h 3d 7d 30d 6m 

Total volume in selected timespan: 340,964 BTC 

Name	Total volume [BTC]	Market share	Currencies
mtgox	         228,086 66.89 %	AUD CAD CHF DKK EUR GBP HKD JPY NZD PLN RUB SEK SGD THB USD
bitstamp	 46,699	 13.70 %	USD
btce	         31,536	 9.25 %	USD RUR EUR
btcchina	 21,546	 6.32 %	CNY
campbx	         5,096	 1.49 %	USD
cavirtex	 3,619	 1.06 %	CAD
bitcurex	 3,201	 0.94 %	PLN EUR
rmbtb	         1,178	 0.35 %	CNY
bitcoin24	 0	 0.00 %	USD EUR
bitcoincentral	 0	 0.00 %	EUR USD GBP CAD
bitfloor	 0	 0.00 %	USD

[Bugpowder]

Certainty not "FUD" , at least 10+ different people reporting delays....in fact looks like you are only person I've seen reporting a quick processing time.

10+ different people?
Like 0.001 % of the overall?

So there are actually 10,000 people on the forum currently reporting on-time wire processing?  I must have missed those 10,000 posts somewhere.

Nobody bothers to complain that things are working smoothly.

[Bugpowder]

Well then...

Commence screaming!

I hope my last wire got thru...

TOKYO - JAPAN - June 20th, 2013   Over the past weeks Mt. Gox has experienced rising volumes of deposits and withdrawals from established and upcoming markets interested in Bitcoin. This increased volume has made it difficult for our bank to process the transactions smoothly and within a timely manner, which has created unnecessary delays for our global customers. This is especially so for those in the United States who are requesting wire transfer withdrawals from their accounts.  We are currently making improvements to process withdrawals of United States Dollar (USD) denominations, and as a result are temporarily suspending cash withdrawals of USD for the next two weeks.  Please be reassured that USD deposits and transfers to Mt. Gox will remain unaffected, as will deposits and withdrawals in other currencies, and we will be resuming USD withdrawals once the process is completed.  We apologize for any inconvenience this causes our U.S. customers in the meantime, and look forward to resuming withdrawal service as well as debuting a dramatically improved trading engine which will be launching very soon. 
Regards
Mt.Gox Co. Ltd Team.

[ineededausername]

Mtux says Mizuho Bank's automated wire transfer API is broken right now.  Wires can only be sent out manually by Mizuho.  Gox is opening accounts at other banks, which should drastically improve USD withdrawal times and bypass the technical problems at Mizuho.  This process should take around 2 weeks.

[thezerg]

Mtux says Mizuho Bank's automated wire transfer API is broken right now.  Wires can only be sent out manually by Mizuho.  Gox is opening accounts at other banks, which should drastically improve USD withdrawal times and bypass the technical problems at Mizuho.  This process should take around 2 weeks.

LOL W(hy)TF didn't Mt. Gox just put THAT info in the press release?  They seem to love crafting press releases designed to maximize panic.

[MPOE-PR]

By now I kinda wonder if the dramatically improved MtGox engine which will be released very soon since Spring will beat to the punch the dramatically improved S.DICE website which will be released very soon since about the same time.

[samson]

Mtux says Mizuho Bank's automated wire transfer API is broken right now.  Wires can only be sent out manually by Mizuho.  Gox is opening accounts at other banks, which should drastically improve USD withdrawal times and bypass the technical problems at Mizuho.  This process should take around 2 weeks.

Lets examine this a little.

An API which has been working perfectly for a bank suddenly stops working and there is no solution to the problem apart from opening new bank accounts ?

Banks don't just go in and break their systems, if there was a software issue with their API they would roll back any recent changes and make it work again.

This is an excuse. Knowing how Asian businesses operate I would say it's a 'face saving' excuse.

I think I can say that this is also a lie - someone at the bank is lying to mtux if this is what was said.

[samson]

LOL W(hy)TF didn't Mt. Gox just put THAT info in the press release?  They seem to love crafting press releases designed to maximize panic.

Because it's bullshit.

[ineededausername]

Mtux says Mizuho Bank's automated wire transfer API is broken right now.  Wires can only be sent out manually by Mizuho.  Gox is opening accounts at other banks, which should drastically improve USD withdrawal times and bypass the technical problems at Mizuho.  This process should take around 2 weeks.

Lets examine this a little.

An API which has been working perfectly for a bank suddenly stops working and there is no solution to the problem apart from opening new bank accounts ?

Banks don't just go in and break their systems, if there was a software issue with their API they would roll back any recent changes and make it work again.

This is an excuse. Knowing how Asian businesses operate I would say it's a 'face saving' excuse.

I think I can say that this is also a lie - someone at the bank is lying to mtux if this is what was said.

Code:

[23:08] <MagicalTux> we broke their system due to the volume
[23:08] <ineededausername> the bank's system?
[23:08] <ineededausername> what do you mean broke?
[23:08] <MagicalTux> yep
[23:08] <MagicalTux> it's broken
[23:08] <ineededausername> a technical problem?
[23:08] <MagicalTux> yep
[23:09] <MagicalTux> they're working on fixing this, and we're opening new bank accounts in other banks as I speak to resume transfers (it takes 2 weeks)

if anyone wants to interpret it any differently.

[greyhawk]

Mtux says Mizuho Bank's automated wire transfer API is broken right now.  Wires can only be sent out manually by Mizuho.  Gox is opening accounts at other banks, which should drastically improve USD withdrawal times and bypass the technical problems at Mizuho.  This process should take around 2 weeks.

Lets examine this a little.

An API which has been working perfectly for a bank suddenly stops working and there is no solution to the problem apart from opening new bank accounts ?

Banks don't just go in and break their systems, if there was a software issue with their API they would roll back any recent changes and make it work again.

This is an excuse. Knowing how Asian businesses operate I would say it's a 'face saving' excuse.

I think I can say that this is also a lie - someone at the bank is lying to mtux if this is what was said.

Well that's a strange thing I learned. When you get IP banned from a site, suddenly your API requests to the site fail. Why does this happen? Nobody knows. It is a complete mystery. Someone should make a game about that. A mystery game.

[smoothie]

Mtux says Mizuho Bank's automated wire transfer API is broken right now.  Wires can only be sent out manually by Mizuho.  Gox is opening accounts at other banks, which should drastically improve USD withdrawal times and bypass the technical problems at Mizuho.  This process should take around 2 weeks.

Lets examine this a little.

An API which has been working perfectly for a bank suddenly stops working and there is no solution to the problem apart from opening new bank accounts ?

Banks don't just go in and break their systems, if there was a software issue with their API they would roll back any recent changes and make it work again.

This is an excuse. Knowing how Asian businesses operate I would say it's a 'face saving' excuse.

I think I can say that this is also a lie - someone at the bank is lying to mtux if this is what was said.

Code:

[23:08] <MagicalTux> we broke their system due to the volume
[23:08] <ineededausername> the bank's system?
[23:08] <ineededausername> what do you mean broke?
[23:08] <MagicalTux> yep
[23:08] <MagicalTux> it's broken
[23:08] <ineededausername> a technical problem?
[23:08] <MagicalTux> yep
[23:09] <MagicalTux> they're working on fixing this, and we're opening new bank accounts in other banks as I speak to resume transfers (it takes 2 weeks)

if anyone wants to interpret it any differently.

lol how the fuck does transferring tons of cash break a system technically? Even if that was true...just upload a good copy of the system and VOILA back to normal.

Fucking horse shit  lies lol...

[Richy_T]

Banks don't just go in and break their systems, if there was a software issue with their API they would roll back any recent changes and make it work again.

Haha. You don't work in IT, right?

[samson]

Banks don't just go in and break their systems, if there was a software issue with their API they would roll back any recent changes and make it work again.

Haha. You don't work in IT, right?

I do but not in banking and when we get something wrong we fix it - and we fix it quickly.

There have been some high profile issues with software upgrades at banks in the UK over the last year or so - big banks. When they happen they are fixed very quickly.

[KeyserSoze]

I wonder if the looming possibility of a Japanese bank bail-in is causing this.
http://finance.yahoo.com/news/japan-adopt-bail-ins-force-181947896.html

Maybe Gox is working to secure other bank accounts, though one would have hoped Gox would already have had backup accounts in place.

Or maybe the bank turned its API off to keep USD from fleeing on news of the bail-in. They simply told Gox it was "broken."

[Bugpowder]

By now I kinda wonder if the dramatically improved MtGox engine which will be released very soon since Spring will beat to the punch the dramatically improved S.DICE website which will be released very soon since about the same time.

I think that dramatically improved S.DICE site was released last night. They changed the name to Just-Dice.com too...

[samson]

I wonder if the looming possibility of a Japanese bank bail-in is causing this.
http://finance.yahoo.com/news/japan-adopt-bail-ins-force-181947896.html

Maybe Gox is working to secure other bank accounts, though one would have hoped Gox would already have had backup accounts in place.

Or maybe the bank turned its API off to keep USD from fleeing on news of the bail-in. They simply told Gox it was "broken."

I don't know how large this bank that MtGox uses is but is it possible that mass withdrawals from MtGox have in fact created a run on their bank ?

[ineededausername]

Does anyone know where we can contact Mizuho Bank support to confirm this?  It's worth a shot.  Their website, however, is so unhelpful that I can't find a single email or even a phone number... maybe I'm just bad at Googling.

[ElectricMucus]