So what happens if Gox misses their deadline in one week?

[Nagle]

I'm a bit concerned that Gox may be doing a Bernie Madoff on us.

That's a reasonable concern at this point.

I don't think that we'll see any positive improvements in terms of withdrawals come the 2 week deadline. Instead we'll see more excuses...

Excuses, and blaming others for their problems, are part of Mt. Gox's standard operating procedure, so that makes sense.

and then the fun will start regarding BTC price.

Maybe not. Bitcoin exchanges have gone bust before. There's no particular reason to think that prices will go up or down if Mt. Gox goes under. There may be a liquidity problem for a while. Already Mt. Gox volume is down. and the other exchanges aren't showing a volume increase of comparable size. Speads will probably widen.

The important thing is not to buy or sell, it's to get assets out of Mt. Gox if you can. If Mt. Gox is honest, they have 100% of the funds deposited, and taking assets out of Mt. Gox won't hurt them. If they're not...

[prophetx]

stop spreading FUD, well unless you think it might drive the price down so I can get some cheap BTC }:)

If you really believe that one person posting on a forum is going to drive the price down, then your faith in BTC is even less than mine . . . let that sink in a little 

Relax, I'm merely posting my analysis of the situation.

it was a joke

[TheBanker]

stop spreading FUD, well unless you think it might drive the price down so I can get some cheap BTC }:)

If you really believe that one person posting on a forum is going to drive the price down, then your faith in BTC is even less than mine . . . let that sink in a little 

Relax, I'm merely posting my analysis of the situation.

it was a joke

My mistake

[Nagle]

TOKYO - JAPAN - June 20th, 2013: Mt. Gox announced that it was "temporarily suspending cash withdrawals of USD for the next two weeks."

It's now July 3 in Tokyo. The two weeks are up at the close of business in Tokyo today.

[TheBanker]

TOKYO - JAPAN - June 20th, 2013: Mt. Gox announced that it was "temporarily suspending cash withdrawals of USD for the next two weeks."

It's now July 3 in Tokyo. The two weeks are up at the close of business in Tokyo today.

My wager is on them not meeting the deadline. Complete silence - no announcement - wouldn't surprise me at all. The next few hours here are key for the future of BTC . . .

[Nagle]

I've asked the reporter for the Washington Post who covers Bitcoin, Timothy Lee, to get the Post's Tokyo correspondent to visit Mt. Gox. He's looking into it.

[dave111223]

Timer removed. End time: 2013-07-03+12:00:00

[chufchuf]

this bear market was stopped the instant winklevii declared an etf sec application

[arbitrage001]

The spread between bitstamp and Mtgox is getting smaller.

This implies people have faith in Mtgox. One can also buy bitcoin at Mtgox and sell at bitstamp if one think Mtgox is going under.

[TimJBenham]

The spread between bitstamp and Mtgox is getting smaller.

This implies people have faith in Mtgox. One can also buy bitcoin at Mtgox and sell at bitstamp if one think Mtgox is going under.

Or it may be that favored big hitters are already getting their withdrawals processed.

[TheBanker]

The spread between bitstamp and Mtgox is getting smaller.

This implies people have faith in Mtgox. One can also buy bitcoin at Mtgox and sell at bitstamp if one think Mtgox is going under.

Or it may be that favored big hitters are already getting their withdrawals processed.

The mere fact that the big hitters are with Gox IS the problem . . .

[TimJBenham]

Timer removed. End time: 2013-07-03+12:00:00

What's with the clock? I'm pretty sure they wont start wiring moneys in the dead of night (jp time).

[dave111223]

Timer removed. End time: 2013-07-03+12:00:00

What's with the clock? I'm pretty sure they wont start wiring moneys in the dead of night (jp time).

I'm pretty sure they won't start wiring moneys during business hours either, so the point is moot.

[Nagle]

Mt. Gox missed the deadline.

They are now in default.

Time for their creditors to go to court in Delaware.

[biggie]

Mt. Gox missed the deadline.

They are now in default.

Time for their creditors to go to court in Delaware.

Delaware is just a paper structure. What people need to do is form a group then hire a good lawyer office and get them in Japan where it hurts them most. Delaware etc are all just PO BOX firms.

[MOB]

Or you just buy some BTC and get the fuck out of dodge.  Not that hard to transfer 20-30 BTC on each downward oscillation to CampBX & Bitstamp.  More volume than that is hard, but do that once a day for a week and you could clear out 30K+ from Gox.

[MPOE-PR]

I find this thread excruciatingly cute.

Yo! See here, and next time pay attention to what the people that matter say.

[TheBanker]

I find this thread excruciatingly cute.

Yo! See here, and next time pay attention to what the people that matter say.

How do I put this in the best, kindest terms possible?

You ain't shit!

[Nagle]

I've been informed by a Mt. Gox customer (which I am not) that the "Bank Transfer" option on their site now just redirects to their "Withdrawal Center", and there is apparently no longer a "Bank Transfer" option at all. Is this correct?

[epetroel]

I've been informed by a Mt. Gox customer (which I am not) that the "Bank Transfer" option on their site now just redirects to their "Withdrawal Center", and there is apparently no longer a "Bank Transfer" option at all. Is this correct?

I believe it's done this for quite some time.  If you select "Bank Transfer" it sends you to the withdrawal center to set up a bank account.  Once set up, that bank account is then an option you can choose when you withdraw.  I had a look at my account, and I don't see that anything has changed recently.