I believe panic selling on Mt. Gox will ensue within 2 weeks

[Birdy]

I still have $0.52859 in my account, any way to get that out?

Can't buy less then .01 BTC, and im sure a bank transfer would cost more than what it's worth, any ideas?

And yes i am serious, its only $0.52859 but it's my $0.52859

Transfer some money in (deposits are still possible).
Buy Bitcoins with all the money.
I don't know if it will be worth it though xD

[oakpacific]

Hmmm, devote your forum handle on a Bitcoin forum to your bearish take on Bitcoin's future....very cool.

Just don't try too hard.

[davout]

FTR

12:24 Blitzboom: SEPA people have been waiting 2-4 weeks
12:24 Blitzboom: 2 weeks is fine, they just need to explain themselves properly
12:24 Blitzboom: noone would go broke over two weeks not being able to withdraw
12:24 sturles: suspects a difference between Japanese and European/American ways of communicating.
12:24 Blitzboom: the problem is that people are afraid mtgox is insolvent
12:25 Blitzboom: sturles: i don't know, tux is french. but maybe the PR people are japanese
12:27 MagicalTux: we will continue processing withdrawals next week, but limit to 1 million USD per day
12:28 Blitzboom: wooo
12:28 Blitzboom: time for a press release!
12:29 Blitzboom: that basically means starting next business day, so that's nice
12:29 MagicalTux: Blitzboom: it's already part of the PR (continution of processing). We just didn't announce any amount because we weren't sure of the volume
12:30 MagicalTux: also it means that there'll be some delays until the bank's system is back online
12:30 Blitzboom: you've done a poor job of conveying it then
12:30 Blitzboom: i didn't understand that from the wording at all
12:31 Blitzboom: even the media idiots like techcrunch are speculating you may be insolvent
12:32 MagicalTux: people keep speculating that every single time we announce something isn't going right

[Kupsi]

FTR

12:24 Blitzboom: SEPA people have been waiting 2-4 weeks
12:24 Blitzboom: 2 weeks is fine, they just need to explain themselves properly
12:24 Blitzboom: noone would go broke over two weeks not being able to withdraw
12:24 sturles: suspects a difference between Japanese and European/American ways of communicating.
12:24 Blitzboom: the problem is that people are afraid mtgox is insolvent
12:25 Blitzboom: sturles: i don't know, tux is french. but maybe the PR people are japanese
12:27 MagicalTux: we will continue processing withdrawals next week, but limit to 1 million USD per day
12:28 Blitzboom: wooo
12:28 Blitzboom: time for a press release!
12:29 Blitzboom: that basically means starting next business day, so that's nice
12:29 MagicalTux: Blitzboom: it's already part of the PR (continution of processing). We just didn't announce any amount because we weren't sure of the volume
12:30 MagicalTux: also it means that there'll be some delays until the bank's system is back online
12:30 Blitzboom: you've done a poor job of conveying it then
12:30 Blitzboom: i didn't understand that from the wording at all
12:31 Blitzboom: even the media idiots like techcrunch are speculating you may be insolvent
12:32 MagicalTux: people keep speculating that every single time we announce something isn't going right

I wonder if MagicalTux have read the press release at all...

[ardana123]

There is nothing genius about what's going to happen.  Gox is going to close and they are taking all your money with them.  This is nothing more than a BFL stall tactic.  Two weeks will come and go and they will be long gone.  Gotta love the Bitcoin diehards who put their faith in the centralized Gox.     Be nice if they would at least pick some principles and stick with them. 

Can't you just stop posting if you have nothing serious to contribute? You're not speculating, you're just trolling.

[Coinseeker]

There is nothing genius about what's going to happen.  Gox is going to close and they are taking all your money with them.  This is nothing more than a BFL stall tactic.  Two weeks will come and go and they will be long gone.  Gotta love the Bitcoin diehards who put their faith in the centralized Gox.    Be nice if they would at least pick some principles and stick with them.  

Can't you just stop posting if you have nothing serious to contribute? You're not speculating, you're just trolling.

You could just push ignore....like I just did to you.

[davout]

Can't you just stop posting if you have nothing serious to contribute? You're not speculating, you're just trolling.

You must be new. You're going to have a bad time here if you don't assume 90% of the forum members are trollish fucktards like our mentally challenged Coinseeker friend.

[Coinseeker]

Can't you just stop posting if you have nothing serious to contribute? You're not speculating, you're just trolling.

You must be new. You're going to have a bad time here if you don't assume 90% of the forum members are trollish fucktards like our mentally challenged Coinseeker friend.

   Down, down, down. 

[davout]

  Down, down, down. 

My avatar is Django Reinhardt your argument is invalid.

[Coinseeker]

  Down, down, down. 

My avatar is Django Reinhardt your argument is invalid.

It's not an argument, it's reality.  I know how difficult it is for zealots to comprehend reality.  Hang in there son...we'll get you trained up right.   

[davout]

  Down, down, down. 

My avatar is Django Reinhardt your argument is invalid.

It's not an argument, it's reality.  I know how difficult it is for zealots to comprehend reality.  Hang in there son...we'll get you trained up right.   

The meds, don't forget them.

[Coinseeker]

  Down, down, down. 

My avatar is Django Reinhardt your argument is invalid.

It's not an argument, it's reality.  I know how difficult it is for zealots to comprehend reality.  Hang in there son...we'll get you trained up right.   

The meds, don't forget them.

That could be the problem here.  You're all loopy from the drugs.  Just say no....then sell, sell, sell...before we hit the bottom.

[chufchuf]

I still have $0.52859 in my account, any way to get that out?

Can't buy less then .01 BTC, and im sure a bank transfer would cost more than what it's worth, any ideas?

And yes i am serious, its only $0.52859 but it's my $0.52859

Pay mtgox support for a minute of cybersex.

[dnaleor]

THis situation is GREAT for europeans:

we can put money into bitstamp WITHOUT a fee (and get EUR out for only 0.70€)

This is how it works:

1) USD stuck at Mt.Gox
2) => panic buy on Mt.Gox
3) => panic transfer to Bitstamp
4) => panic sell on Bitstamp
5) => prices are artificially low @Bitstamp
6) => CHEAP COINS for europeans 

[razibuzouzou]

Mt. Gox just put a message on reddit : http://www.reddit.com/r/Bitcoin/comments/1gsiwy/an_update_from_mt_gox/

Dear Mt. Gox Customers and Bitcoiners,

The reaction since yesterday’s statement regarding the temporary suspension of U.S. dollar withdrawals has had mixed reactions, and raised more than a few questions about why we had to take this step right now. Rather than be subject to inaccurate speculation we’d like to clarify some points here. Due to pending matters we are unable to get into everything in great detail, though we’d certainly love to and are looking forward to the opportunity.

1) The problem with the U.S. withdrawals (and even other currencies for that matter) is that our bank can no longer handle the volume of withdrawals. They struggled in the last two months, and the increase due to the Dwolla separation has made it increasingly more difficult. The pressure we brought onto the bank’s resources finally gave in, and we are now working with them to find an alternative method (hence the suspension). We would have preferred to give notice if we were able to, but it was sudden for us as well.

2) We are now working with new banks and alternative methods for transmitting money to our customers. This does not mean we are stopping entirely within the next two weeks, but it will be slower than we would like. We are literally going to use our manpower to process withdrawals ourselves, manually. This will take more time, but we are dedicated to doing as many per day as possible. We announced a suspension in order to manage expectations while we deliver at a temporary reduced rate. Our goal is to have a new system set up in the next weeks with clarity for both the banks and for our customers.

3) Our previous release was rather vague, but for a reason. Mainly, we don't want to upset our bank! They do great work, but our kind of business is completely new to the banking industry. Processing international wires does not just involve pushing a button. It requires real manpower processing everything individually, even in this modern computer age. While Bitcoin's power lies in its ability to transfer fast and securely through software, the rest of the financial world does not operate like that (contrary to popular opinion). Money is surprisingly analog in many ways, and scarily digital in others. 

4) Every customer’s funds are safe, sound, and accounted for. In fact, in our dealings with the Japanese financial regulators we have been assured that we are not under local pressure or suspicion and can operate as usual within normal legal frameworks.

5) Mt. Gox is certainly not a martyr, but it would be hard to argue that we aren’t "taking one for the team" as far as Bitcoin is concerned. We are a big target, and are absorbing the frustrations of Bitcoiners, regulators, banks, and a media that still doesn't quite understand what Bitcoin is. This is a job we are happy to fill, and not just because we are compensated for it. Our hope is that, once Bitcoin finds its place, we will be able to say that we made a difference in sorting it all out in the early days. New exchanges, business models, merchants, traders, and consumers  are rising up to innovate and create a whole new way of doing business. A lot of lawyers are getting new cars in the meantime too.

6) As risky as it is to invoke the name of Litecoin (LTC???), we must apologize for not keeping everyone up to date. The fact is that the current situation means a continued delay, but for good reasons. We’re looking at July right now, though that depends on a few things. Mainly, we want to do things correctly from the beginning.

7) The new trading engine is finished, is smokin’ fast, and is currently undergoing bench tests. We’re looking forward to deploying it very soon.

While not the most in-depth update we'd like to give, we hope that it has at least clarified a few things. In the next few weeks we are planning to do another AMA on Reddit when we’ll hopefully be able to answer many more questions and also shed some light on what’s been going on at Mt. Gox these past months. Thank you for your patience and support.

[JimboToronto]

The meds, don't forget them.

Aw, don't spoil the fun.

I find his ridiculous trolling to be hilarious. If he took his meds he'd probably be really boring.

Hey, even his goofy avatar picture is hilarious.

I thought about putting him on the ignore list, but then I'd be missing out on all the humor.

[adamstgBit]

I still have $0.52859 in my account, any way to get that out?

Can't buy less then .01 BTC, and im sure a bank transfer would cost more than what it's worth, any ideas?

And yes i am serious, its only $0.52859 but it's my $0.52859

i think you can transfer $$ between mtgox accounts with MtGoxUSD coupon code

so try to find someone on this fourm willing to send you 0.004BTC for 52cents of mtgox money

[calian]

I still have $0.52859 in my account, any way to get that out?

Can't buy less then .01 BTC, and im sure a bank transfer would cost more than what it's worth, any ideas?

And yes i am serious, its only $0.52859 but it's my $0.52859

i think you can transfer $$ between mtgox accounts with MtGoxUSD coupon code

so try to find someone on this fourm willing to send you 0.004BTC for 52cents of mtgox money

Not any more. Regulatory compliance forced them to stop offering USD codes.

[randrace]

*Snarky comment about OP's username redacted*

[Room101]

I very much doubt gox is in financial troubles, or are going to close down. They should have a shit load of money, and it's not like their business is that expensive to run. I get that people don't like one exchange having that much power over BTC, but it is that way for a reason.