Two weeks more for cash withdrawals of USD!!!!!!!

[vokain]

Hopefully monday will prove to be plentiful for withdraws at gox. I feel i've been waiting forever.

is it the backlog of withdrawals they have left? or have they not even started processing them

[MPOE-PR]

Well maybe they hire Inaba do to pr.

[TimJBenham]

Hopefully monday will prove to be plentiful for withdraws at gox. I feel i've been waiting forever.

is it the backlog of withdrawals they have left? or have they not even started processing them

There's a distinct lack of credible posts from anyone saying they received USD for the last 6 weeks or so. If they had been processing hundreds of withdrawals over the last two weeks surely someone would have posted. It would certainly be in Gox' interests to encourage them to post, or even to give priority to processing the withdrawals of forum regulars. Even if they were scamming they would be smart to pay out a few forum regulars to give the impression everything is OK. I conclude either they are completely skint or they are hopeless.

[prophetx]

Hopefully monday will prove to be plentiful for withdraws at gox. I feel i've been waiting forever.

is it the backlog of withdrawals they have left? or have they not even started processing them

There's a distinct lack of credible posts from anyone saying they received USD for the last 6 weeks or so. If they had been processing hundreds of withdrawals over the last two weeks surely someone would have posted. It would certainly be in Gox' interests to encourage them to post, or even to give priority to processing the withdrawals of forum regulars. Even if they were scamming they would be smart to pay out a few forum regulars to give the impression everything is OK. I conclude either they are completely skint or they are hopeless.

someone did post here https://bitcointalk.org/index.php?topic=179586.380... looks like they are hooking up whales but everyone else is getting shafted...

I can confirm that my "5 digit+" withdrawal was quite timely.  In fact, it arrived yesterday.

[joesmoe2012]

Hopefully monday will prove to be plentiful for withdraws at gox. I feel i've been waiting forever.

is it the backlog of withdrawals they have left? or have they not even started processing them

There's a distinct lack of credible posts from anyone saying they received USD for the last 6 weeks or so. If they had been processing hundreds of withdrawals over the last two weeks surely someone would have posted. It would certainly be in Gox' interests to encourage them to post, or even to give priority to processing the withdrawals of forum regulars. Even if they were scamming they would be smart to pay out a few forum regulars to give the impression everything is OK. I conclude either they are completely skint or they are hopeless.

someone did post here https://bitcointalk.org/index.php?topic=179586.380... looks like they are hooking up whales but everyone else is getting shafted...

I can confirm that my "5 digit+" withdrawal was quite timely.  In fact, it arrived yesterday.

I think this person was mistaken, if you look a few posts after they post saying they received their "5 digit wire" a few people ask to see a screenshot, and the reply was that it went to confirmed in his status, but that it hasn't actually cleared his bank account.

Since not one person has actually shown us a wire to the USA in the past couple weeks, i'm not even so sure their "whales" are getting wires either (I have a substantial 6 figure balance with them as well and don't get any information from support or anyone else.

I've started slowly withdrawing my coins at a few percentage loss and selling them elsewhere just to get my money out of gox. The way things seem to work in the bitcoin world, i can't afford my money being tied up for months or potentially years.

[TimJBenham]

I've started slowly withdrawing my coins at a few percentage loss and selling them elsewhere just to get my money out of gox. The way things seem to work in the bitcoin world, i can't afford my money being tied up for months or potentially years.

That's the dilemma isn't it? take the haircut now and get out while you can, or hold your nerve and wait until the USD balances are whittled down to the point where MtGox can pay you.

[prophetx]

Hopefully monday will prove to be plentiful for withdraws at gox. I feel i've been waiting forever.

is it the backlog of withdrawals they have left? or have they not even started processing them

There's a distinct lack of credible posts from anyone saying they received USD for the last 6 weeks or so. If they had been processing hundreds of withdrawals over the last two weeks surely someone would have posted. It would certainly be in Gox' interests to encourage them to post, or even to give priority to processing the withdrawals of forum regulars. Even if they were scamming they would be smart to pay out a few forum regulars to give the impression everything is OK. I conclude either they are completely skint or they are hopeless.

someone did post here https://bitcointalk.org/index.php?topic=179586.380... looks like they are hooking up whales but everyone else is getting shafted...

I can confirm that my "5 digit+" withdrawal was quite timely.  In fact, it arrived yesterday.

I think this person was mistaken, if you look a few posts after they post saying they received their "5 digit wire" a few people ask to see a screenshot, and the reply was that it went to confirmed in his status, but that it hasn't actually cleared his bank account.

Since not one person has actually shown us a wire to the USA in the past couple weeks, i'm not even so sure their "whales" are getting wires either (I have a substantial 6 figure balance with them as well and don't get any information from support or anyone else.

I've started slowly withdrawing my coins at a few percentage loss and selling them elsewhere just to get my money out of gox. The way things seem to work in the bitcoin world, i can't afford my money being tied up for months or potentially years.

first of all I do not see a reply from that username. that post was his last post...


https://bitcointalk.org/index.php?action=profile;u=40007;sa=showPosts


second so by saying "cleared" do you mean that the bank had received the wire but was holding the funds for some period, which would be typical for large transfers and int'l wire?  i have had 5+ figure deposits of checks take a couple weeks to "clear" when a bank is not used to seeing that happen on my account, etc...

[joesmoe2012]

Hopefully monday will prove to be plentiful for withdraws at gox. I feel i've been waiting forever.

is it the backlog of withdrawals they have left? or have they not even started processing them

There's a distinct lack of credible posts from anyone saying they received USD for the last 6 weeks or so. If they had been processing hundreds of withdrawals over the last two weeks surely someone would have posted. It would certainly be in Gox' interests to encourage them to post, or even to give priority to processing the withdrawals of forum regulars. Even if they were scamming they would be smart to pay out a few forum regulars to give the impression everything is OK. I conclude either they are completely skint or they are hopeless.

someone did post here https://bitcointalk.org/index.php?topic=179586.380... looks like they are hooking up whales but everyone else is getting shafted...

I can confirm that my "5 digit+" withdrawal was quite timely.  In fact, it arrived yesterday.

I think this person was mistaken, if you look a few posts after they post saying they received their "5 digit wire" a few people ask to see a screenshot, and the reply was that it went to confirmed in his status, but that it hasn't actually cleared his bank account.

Since not one person has actually shown us a wire to the USA in the past couple weeks, i'm not even so sure their "whales" are getting wires either (I have a substantial 6 figure balance with them as well and don't get any information from support or anyone else.

I've started slowly withdrawing my coins at a few percentage loss and selling them elsewhere just to get my money out of gox. The way things seem to work in the bitcoin world, i can't afford my money being tied up for months or potentially years.

first of all I do not see a reply from that username. that post was his last post...


https://bitcointalk.org/index.php?action=profile;u=40007;sa=showPosts


second so by saying "cleared" do you mean that the bank had received the wire but was holding the funds for some period, which would be typical for large transfers and int'l wire?  i have had 5+ figure deposits of checks take a couple weeks to "clear" when a bank is not used to seeing that happen on my account, etc...

I don't see a reply now, but I seem to remember seeing a reply that his transfer was only confirmed on gox's website and had not cleared to his bank (was not available at his bank yet).

Confirmed status on gox just means that they have confirmed the fact you want to withdraw money, it will be "processed" once it's left gox's bank and is on the way to the customer's bank.

At least from what i understand, feel free to correct me.

Also, I'm not 100% sure that there was another post from that guy, I just seem to remember one and can't find it now.

[joesmoe2012]

Also, I think that if millions of dollars a day worth of wires were going out to the gox customers, there would be more than 1 person who allegedly received one.

There should be dozens of people on here posting that the wires are going through again (unless they are just keeping it to themselves to maintain the major arb op).

[prophetx]

Also, I think that if millions of dollars a day worth of wires were going out to the gox customers, there would be more than 1 person who allegedly received one.

There should be dozens of people on here posting that the wires are going through again (unless they are just keeping it to themselves to maintain the major arb op).

why would they post that?  you can transfer the cash to bitstamp and coinbase, and sell on gox and repeat and make an easy 5% profit

[bitcoin44me]

why would they post that?  you can transfer the cash to bitstamp and coinbase, and sell on gox and repeat and make a easy 5% profit

If it was possible to withdraw on mt.gox 

[prophetx]

why would they post that?  you can transfer the cash to bitstamp and coinbase, and sell on gox and repeat and make a easy 5% profit

If it was possible to withdraw on mt.gox  

have you tried to withdrawal 5+ figures?  anyway it is very common for transactions of that size coming from outside the US to take a couple weeks to clear at least... if it was otherwise BTC probably would not exist lol

[zeroblock]

why would they post that?  you can transfer the cash to bitstamp and coinbase, and sell on gox and repeat and make a easy 5% profit

If it was possible to withdraw on mt.gox  

have you tried to withdrawal 5+ figures?  anyway it is very common for transactions of that size coming from outside the US to take a couple weeks to clear at least... if it was otherwise BTC probably would not exist lol

a.) It is not common to take several weeks, and you must mean several months (that is the average time I see in the forums and Facebook). 
b.) BTC would exist, it would just shift to other exchanges.  Gox is nothing special. 

[joesmoe2012]

why would they post that?  you can transfer the cash to bitstamp and coinbase, and sell on gox and repeat and make a easy 5% profit

If it was possible to withdraw on mt.gox 

have you tried to withdrawal 5+ figures?  anyway it is very common for transactions of that size coming from outside the US to take a couple weeks to clear at least... if it was otherwise BTC probably would not exist lol

I use to have 6 figure gox payments that took less than 24 hours to post to my bank in the states.

So no it does not commonly take a couple weeks.

You have no idea what your talking about.

[joesmoe2012]

why would they post that?  you can transfer the cash to bitstamp and coinbase, and sell on gox and repeat and make a easy 5% profit

If it was possible to withdraw on mt.gox 

have you tried to withdrawal 5+ figures?  anyway it is very common for transactions of that size coming from outside the US to take a couple weeks to clear at least... if it was otherwise BTC probably would not exist lol

a.) It is not common to take several weeks, and you must mean several months (that is the average time I see in the forums and Facebook). 
b.) BTC would exist, it would just shift to other exchanges.  Gox is nothing special. 

a) Agreed.
b) Agreed.
c) This is why ignore button exists, to stop the misuse of FUD.

[KarmaShark]

If MtGox is in a major liquidity death spiral then they most likely will not and cannot say anything to the public, what good would it serve them in an effort to stem the bleeding? The staff would be instructed to refer to a sheet of paper with a list of canned responses meant to placate all of the upset and inquisitive customer base.

They know that this will eventually become public information and a 'run' on their Bitcoin coffers would began as customers realized that holding USD$ on MtGox is akin to holding a fiat currency that can purchase only one thing: Increasingly more expensive Bitcoins from the MtGox order book. That will push the premium of a Bitcoin up while driving down the relative value of any fiat being held on the exchange.


We all hope this is not the case and the 1-3 month long delays on USD withdrawals, the lack of communication, deplorable support and now Bitcoin withdrawal delays are a simple blip on the Cryptosphere radar. Decide for yourself, if this is the end for MtGox "He who panics first, wins".

[Nagle]

They know that this will eventually become public information and a 'run' on their Bitcoin coffers would began as customers realized that holding USD$ on MtGox is akin to holding a fiat currency that can purchase only one thing: Increasingly more expensive Bitcoins from the MtGox order book. That will push the premium of a Bitcoin up while driving down the relative value of any fiat being held on the exchange.

That's already happened. The spread between Mt. Gox and other exchanges is now around 10%.  The price of Bitcoins is not going up; the value of a dollar stuck in Mt. Gox is going down.

[joesmoe2012]

They know that this will eventually become public information and a 'run' on their Bitcoin coffers would began as customers realized that holding USD$ on MtGox is akin to holding a fiat currency that can purchase only one thing: Increasingly more expensive Bitcoins from the MtGox order book. That will push the premium of a Bitcoin up while driving down the relative value of any fiat being held on the exchange.

That's already happened. The spread between Mt. Gox and other exchanges is now around 10%.  The price of Bitcoins is not going up; the value of a dollar stuck in Mt. Gox is going down.

Actually the price across all exchanges has gone up, but gox more so because of potential liquidity problems.

[prophetx]

why would they post that?  you can transfer the cash to bitstamp and coinbase, and sell on gox and repeat and make a easy 5% profit

If it was possible to withdraw on mt.gox  

have you tried to withdrawal 5+ figures?  anyway it is very common for transactions of that size coming from outside the US to take a couple weeks to clear at least... if it was otherwise BTC probably would not exist lol

I use to have 6 figure gox payments that took less than 24 hours to post to my bank in the states.

So no it does not commonly take a couple weeks.

You have no idea what your talking about.

yes i actually do, you have no idea how banking works clearly.  

it is not possible to post same day in the banking world between multiple banks, so unless you use the same bank or have a special relationship where a manager is approving the funds clearing.

furthermore, normally banks will hold your funds past a certain maximum defined for your account for X days and release the funds, once you establish a track record this usually gets increased... but maybe if you are playing monopoly with your grandpa...

[bystander]

why would they post that?  you can transfer the cash to bitstamp and coinbase, and sell on gox and repeat and make a easy 5% profit

If it was possible to withdraw on mt.gox  

have you tried to withdrawal 5+ figures?  anyway it is very common for transactions of that size coming from outside the US to take a couple weeks to clear at least... if it was otherwise BTC probably would not exist lol

I use to have 6 figure gox payments that took less than 24 hours to post to my bank in the states.

So no it does not commonly take a couple weeks.

You have no idea what your talking about.

Correct, in my experience this is the case with wires from Asia, our foreign office would send out wires at noon (3am US time) and we'd receive them by 11am local time on the west coast.  No special relationships with bankers or managers required.  

With Gox, we were receiving 5+ figure wires fairly quickly from Japan, but after June they started stalling and giving us the run-around.  Finally we were tired of waiting several weeks and decided to take an exchange hit and transfer out via BTCs.