Major issue with Mtgox unresolved (??)

[achillez]

I have a problem with MTgox. I tried withdrawing a good amount of $ back in June 17th by wiring it to my bank in the US. They then put US withdrawals on hold for 2 weeks soon thereafter, so I figured fine I'll wait. However, it's now been almost one month and my withdrawal is still outstanding (note in the MTgox account it shows it was completed June 17th).

I've been exchanging emails with the MTGox help desk on this and they were responsive saying that transfers will proceed soon *until* 2 days ago. Now nothing. Should I be concerned?? Is anyone else experiencing similar strangeness with MTGox withdrawals?

[1715460094]

1715460094

[1715460094]

1715460094

[🏰 TradeFortress 🏰]

Everyone is.

[achillez]

I thought this was resolved now for most folks. Are you saying everyone still can't withdraw from MTGox?  That's crazy. Do you know of any other alternatives to transfer money out of MTGox, or at least BTC -> $ conversion?

[yocko06]

I just made a withdraw from Mtgox,  I will update when it's in the account. 
Mtgox has always been a good business in my eyes,  they have had issues in the past and will have issues in the future but this is expected when you are the first of your kind in a brand new field that nobody else can do better.
People are always bagging out Mtgox but these same people would not know where to begin if they where given the task Magical Tux and team face. 

If you are that annoyed at Mtgox for dealing with their bank issues then withdraw your bitcoins through another service if you can find one as good.

[achillez]

yocko6 my issue is that I have money "stuck" mtgox that I can't get out. I have a withdrawal that has been in limbo for 1 month.

I agree they are a good company. This is why I put my $ with them, but I'm concerned I can't get my money out of my account.

[arbitrage001]

Did they give you any reason?

They told me if I can get a bank which doesn't use Citibank as an intermediate bank, I will be able to withdraw.


FYI, I bought bitcoin and the cash out at coinbase when the spread is small.

[old_engineer]

I'm still waiting on an international wire withdrawal I made on June 15th, several days before the "hiatus" announcement.  Mtgox support has been, ahem, underwhelming on the issue.  I didn't believe their two week estimate - did anyone? - but I didn't expect >4 weeks, and it's been really lame to have thousands in USD locked up for almost a month.  I don't blame Gox for the problem -- it's the traditional financial system at fault here -- but I do blame them for setting expectations they don't or can't meet, and for a lack of honest communication, all par for the course at MtGox.

[achillez]

old_engineer it sounds like you and I are in exactly the same boat. Does your withdrawal show as "complete"?  It worries me immensely that it seems me $ went out to limbo while MTGox works their issues.

[joesmoe2012]

I'm also in this same boat. Mine don't show as complete though, they show as processed.

[zeroblock]

There is a 0.25 BTC bounty for anyone to prove that they have had a USD withdraw. 

https://bitcointalk.org/index.php?topic=251895.0

Mt.Gox users are buying BTC and moving it out of Mt.Gox as evidenced by the spread between Mt.Gox, Bitstamp, and btc-e... nearly $6-8 now. Same thing happened a few weeks ago before a selloff to $66.

[CurbsideProphet]

There is a 0.25 BTC bounty for anyone to prove that they have had a USD withdraw. 

https://bitcointalk.org/index.php?topic=251895.0

Mt.Gox users are buying BTC and moving it out of Mt.Gox as evidenced by the spread between Mt.Gox, Bitstamp, and btc-e... nearly $6-8 now. Same thing happened a few weeks ago before a selloff to $66.

Yup.  What's amazing is people still go back to these guys and give them their business.

[HermesConrad]

I tried with MtGox the one time and never will again.. Deposited 3.34btc with the intention of withdrawing into my bank account, didn't meet their withdrawal minimum, so now I'm out my coins and my cash. Thats ~$270 worth of coin they just uhh... Misplaced.

[achillez]

why can't you get your 3.4BTC back?

[fabrizziop]

In my case Mt.Gox was very trustworthy, the last time I used them was around 10 april, no hassles at all, I would be sad if the company went broke 

[HermesConrad]

Aha a twist in the story.. Looks like MtGox converted my btc into $36 for me, THANKS MTGOX HELL YEAH. And now it forever sits in the account, below the withdrawal minimum. FUCK. I just want my 3.34 btc back.

[achillez]

one way to get it back is to buy some BTC, then use it to buy something - or send it to another exchange to get $.

[HermesConrad]

I don't see how that gets me my original 3.34btc back lol.... Frustrating being a newbie. Send these exchanges your btc and say you want cash, they happily exchange it for you! At the lowest possible rate and then deposit the funds into an account from which it may never be withdrawn!! BRILLIANT NOOBERY. This is why I vow to go p2p all day long forever from here on out FUCK all this exchange noise.

[Spaceman_Spiff]

I don't see how that gets me my original 3.34btc back lol.... Frustrating being a newbie. Send these exchanges your btc and say you want cash, they happily exchange it for you! At the lowest possible rate and then deposit the funds into an account from which it may never be withdrawn!! BRILLIANT NOOBERY. This is why I vow to go p2p all day long forever from here on out FUCK all this exchange noise.

How can 3.34 BTC become $36?   We never even went that low for 1 BTC this year post-bubble.

[HermesConrad]

This is still 100% completely my fault. Should have left my initial first acquisition of BTC right there in my wallet. Lesson learned. Need moar.

[EuroTrash]

I don't see how that gets me my original 3.34btc back lol.... Frustrating being a newbie. Send these exchanges your btc and say you want cash, they happily exchange it for you! At the lowest possible rate and then deposit the funds into an account from which it may never be withdrawn!! BRILLIANT NOOBERY. This is why I vow to go p2p all day long forever from here on out FUCK all this exchange noise.

How can 3.34 BTC become $36?   We never even went that low for 1 BTC this year post-bubble.

The simplest explanation I can think of is that HermesConrad had coins left in a Gox account created in 2012 or before. And he had a sell order for something like 10.5$.
Fast forward to yesterday, he wakes up and reads in a newspaper that his coins are worth shit. "Damn I forgot I have coins in Gox!" he says. He still remembers the password (probably same one for all sites lol) so he successfully logins. To find out that his sell order had been executed long time ago.

Or, alternatively, pigs fly.