Withdraw money immediately from MtGox?

[sayulita]

I do not have an account there, but according to their FAQ section regarding withdrawals they allow you to withdraw your money in bitcoin.

If this is the case (and I am not sure if it is), wouldn't Bitcoin-Brokers be the perfect solution for somebody wanting to get their money off of MtGox?

From the threads that I keep reading, there appears to be some sort of delay when MtGox account holders want to withdraw money to their bank accounts by way of a wire transfer. I have read of people waiting weeks to get their cash.

If it is only the wire transfers which are holding the process up, why not just transfer the balance in bitcoin from MtGox to Bitcoin-Brokers, who will then find a buyer the same day for the bitcoin who will make a cash deposit into the seller's bank account?

This would eliminate the entire waiting period which people are experiencing right now. It would also eliminate the wire transfer cost, and the person would be paid above MtGox rates for their bitcoin.

Since Bitcoin-Brokers is always scrambling to find more bitcoin, and MtGox account holders want to get money off the exchange and into their accounts, wouldn't this match up work?

Once again I don't have an account at MtGox so perhaps somebody who does could confirm if in fact it is possible to withdraw your balance from MtGox via bitcoin?

[jeannie]

I think whatever ways you still need to get verified.

[Kluge]

USD wire withdrawals @ Gox are currently backlogged over a month, either because of severe liquidity problems, or because no bank wants to touch a black market exchange operating in the US.

Banks are being smart here, and it'd be smart for everyone in the US not to do business with exchanges not compliant in every state and country they do business in (certainly not for ideological reasons, but simple practical reasons). I have no idea if B-B is or isn't fully compliant. If any exchange serving US customers has not put up the tens of millions required to be compliant in all 50 states (if they should choose to operate in all 50), the money's at risk of never being seen again, or in limbo for years while the USG sits on its hands, waiting to refund the money back to users.

Basically, any exchange which hasn't announced $50m+ in initial capital funding or a partnership with a company having all the required licenses/permits, is probably operating unlawfully if serving US customers and placing funds with them is a risky action.

Best bet is probably to find individuals who irregularly buy/sell in some circle of trusted friends/associates.

[chadqberry]

The problem is, when you request a withdrawal from mtgox, they take your money from your account.  Then, they never actually process the transfer but you are left without the money in your account to buy btc.  Basically they are double screwing you.  I can't even get them to cancel my transfers so I can buy btc to move them out of gox.

[sayulita]

The problem is, when you request a withdrawal from mtgox, they take your money from your account.  Then, they never actually process the transfer but you are left without the money in your account to buy btc.  Basically they are double screwing you.  I can't even get them to cancel my transfers so I can buy btc to move them out of gox.

Are you telling me that they will not even allow you to withdraw BTC?

[/dev/null]

Are you telling me that they will not even allow you to withdraw BTC?

This guy is stupid and makes me sick with his annoying bullshit advertising.

Dude mtgox allowes people to do bitcoin withdrawal, why they will need to use your  so called "perfectsolution" instead of other reliable sites?

[sayulita]

Are you telling me that they will not even allow you to withdraw BTC?

This guy is stupid and makes me sick with his annoying bullshit advertising.

Dude mtgox allowes people to do bitcoin withdrawal, why they will need to use your  so called "perfectsolution" instead of other reliable sites?

As I look out at the beautiful ocean sipping my beverage in lovely Sayulita Mexico I must remember that not everybody has as happy of a life as I do.

I will forgive that remark. I hope your day improves.