Anybody received withdrawals from MtGox last weeks?

[wingding]

I have 20kUSD withheld by MtGox for 5 weeks now. Anybody else in the same situation?

I have read their press releases, but their explanations do not seem plausible. It appears like they have spent or simply taken their client's money. Disturbing.

PS: many people here are worried by bitcoin being sabotaged by govs, feds, banks etc. Don't worry. MtGox are destroying bitcoin perfectly well alone.

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[culexevilman]

you should buy btc and transfer out... better than losing your 20k...

[chadqberry]

Been waiting on mine for over a month.  Bad part is you can't buy btc to transfer out because after requesting the withdrawal a month ago the money was removed from my account, but the withdrawal transfer has still not happened.  I have $30K stuck.

[Remember remember the 5th of November]

Your own damn faults for using MtGox, and not say...Bitstamp?

[mgio]

I have $10k waiting to be transferred out for about 9 days now. If I don't hear anything by the end of next week I am going to file a support ticket. I'm not worried though, I figured it would take at least 2 weeks. They'll get around to it eventually.

[mgio]

you should buy btc and transfer out... better than losing your 20k...

I don't think they are going to lose their money.

It is very hard to sell 20k work of bitcoins on any other exchange without moving the market.

Also they are almost always lower than mtgox.

If you are selling on mtgox because you are doing arbitrage you have no choice.

[QuestionAuthority]

Sorry but liquidity may be a slight problem for Bitcoin. The quality of being readily convertible into cash hasn't been completely worked out yet. I suggest you just relax and wait your turn.

[joesmoe2012]

Still no withdraws clearing to me. Been weeks now.

[arbitrage001]

Cost me around 700 dollars to move 20k.

Buy bitcoin on Mtgox, sell at coinbase when the spread is low. Not saying it is cheap, but you can make back the money in 3-4 arbitrage between bitstamp and coinbase rather than letting your money still sitting on Mtgox.

[wingding]

I have $10k waiting to be transferred out for about 9 days now. If I don't hear anything by the end of next week I am going to file a support ticket. I'm not worried though, I figured it would take at least 2 weeks. They'll get around to it eventually.

Maybe you're right. Until this I've had a very good impression of MtGox, so I hope that still holds and that they sort this thing out. Though its hard not to worry.

[arbitrage001]

The support on MTgox is pretty hopeless. Not saying they are incompetent. But I do not think they have any authority to do anything other than make you feel a little better.

I have been contacting support for over 2 weeks everyday before I finally bite the bullet and pay whatever the cost to move my money out.

[Coinfish]

I have been waiting since June 24 for my transaction to go through. I'm starting to get REALLY pissed.

Support had this to say:
"Sorry for the inconveniences caused. Definitely we are trying our best to process all of the withdrawals in a timely manner. We had some delays in the withdrawals however your case appears to be a surprise that it took so long and not resolved yet. We sincerely apologize for the same.

We will get back to you with an estimated time required to process the funds."

They've since contacted me with another "feel good" message with absolutely no estimate at all.

From reading this thread, apparently they're full of ********* and my predicament isn't atypical at all. Has this ever happened before? Should I be worried?

[QuestionAuthority]

I have been waiting since June 24 for my transaction to go through. I'm starting to get REALLY pissed.

Support had this to say:
"Sorry for the inconveniences caused. Definitely we are trying our best to process all of the withdrawals in a timely manner. We had some delays in the withdrawals however your case appears to be a surprise that it took so long and not resolved yet. We sincerely apologize for the same.

We will get back to you with an estimated time required to process the funds."

They've since contacted me with another "feel good" message with absolutely no estimate at all.

From reading this thread, apparently they're full of ********* and my predicament isn't atypical at all. Has this ever happened before? Should I be worried?

No, you shouldn't be worried. I've been using Gox for two years and they have screwed up a lot but (other than freezing tainted coins) have never intentionally scammed anyone. Their customer service is about as efficient as a government bureaucratic entity but they do try to fix things eventually. If they screw you it's not because they mean to it because they are poorly managed and running around government regulations with wild abandon.

[EuroTrash]

No, you shouldn't be worried. I've been using Gox for two years and they have screwed up a lot but (other than freezing tainted coins) have never intentionally scammed anyone. Their customer service is about as efficient as a government bureaucratic entity but they do try to fix things eventually. If they screw you it's not because they mean to it because they are poorly managed and running around government regulations with wild abandon.

^ bad advice above ^

Seriously. In bitcoin world even "respectable" businesses have turned into scams.
Apart from that. Let me do a little digression on "feel good" answers.
When a customer service operator gives you a unspecific "feel good" answer, it generally means:
1. He does not have a clue how to fix your problem
2. He wants to buy himself time / send you away
3. He did not say what he's going to do to fix your problem, so he likely will just log your call and nothing else will happen.

Now back on topic.
Your money is being kept hostage. Do you accept "feel good" answers?

Here some good advice: Buy BTC with your balance and get the f* out of Gox. No one here has been able to get money out since end of May at latest. Staying there is just not worth the risk. If you need to convert them to fiat then try localbitcoins or bitstamp or campbx or maybe nashx. As far as I know they all work at the moment.

[dmcurser]

been waiting since june 6th and still have nothing for it. if i was a bank its been over a month. i would of been charge interest and late fees for not paying by now i think i should be able to charge interest say 50 % apr. its my money i get to make up the rate right.

[QuestionAuthority]

No, you shouldn't be worried. I've been using Gox for two years and they have screwed up a lot but (other than freezing tainted coins) have never intentionally scammed anyone. Their customer service is about as efficient as a government bureaucratic entity but they do try to fix things eventually. If they screw you it's not because they mean to it because they are poorly managed and running around government regulations with wild abandon.

^ bad advice above ^

Seriously. In bitcoin world even "respectable" businesses have turned into scams.
Apart from that. Let me do a little digression on "feel good" answers.
When a customer service operator gives you a unspecific "feel good" answer, it generally means:
1. He does not have a clue how to fix your problem
2. He wants to buy himself time / send you away
3. He did not say what he's going to do to fix your problem, so he likely will just log your call and nothing else will happen.

Now back on topic.
Your money is being kept hostage. Do you accept "feel good" answers?

Here some good advice: Buy BTC with your balance and get the f* out of Gox. No one here has been able to get money out since end of May at latest. Staying there is just not worth the risk. If you need to convert them to fiat then try localbitcoins or bitstamp or campbx or maybe nashx. As far as I know they all work at the moment.

You may as well feel good because at this point if Gox is gone chances are Bitcoin won't survive anyway and your coins will be worthless.

[Spaceman_Spiff]

You may as well feel good because at this point if Gox is gone chances are Bitcoin won't survive anyway and your coins will be worthless.

I think we are past that point, although it would obviously hurt bitcoin significantly and slow adoption.
The real question if Gox is a goner is: why did it happen?  Do other exchanges have a shot at being viable businesses?

[QuestionAuthority]

You may as well feel good because at this point if Gox is gone chances are Bitcoin won't survive anyway and your coins will be worthless.

I think we are past that point, although it would obviously hurt bitcoin significantly and slow adoption.
The real question if Gox is a goner is: why did it happen?  Do other exchanges have a shot at being viable businesses?

Exactly, that's what I meant. If you're worried that Gox is ripping you off or going out of business with your money in tow then what exchange will survive. I don't believe at this point the USG is doing anything other than putting pressure on banks under their control to stop doing business with Bitcoin exchanges. Fortunately, not all banks are under the control of the USG. Gox needs to establish a relationship with an internet bank or smaller bank.

[bitcon]

fuck me. looks like everyone else is in the same boat. its all fun and games when its someone elses money.  this reminds me of when tradehill went out of the game the first time. i feel defrauded again.



i was able to get the rest of my coins out however. never ever using gox again.