MtGOX WTF is going on?

[Itcher]

And please stop claiming Gox be a Ponzi. This just creates fog on words. Gox offers a service, Ponzis don't do.

I wouldn't put money on MtGox having turned into a ponzi, but currently they are only *claiming* to offer a service. That's exactly what ponzies do too.

ok, the withdrawel-issue is annoying, and you're right, it seems they don't offer this service for real. But they have a trading machine, that's a service ... anyway: If their service is broken, it's either caused by regulators / government or by financial mismanagement. None of this makes a company a Ponzi. You can't claim every failed company a ponzi. Also gox has an income through fees, which is not caused by new people joining the game. And that's exactly what ponzies don't do too

But I understand your point: if gox has no money, or if the volume is too low to pay loans just with fees, it has to lock them who are in, and this has something of a ponzi.

Btw: I am very unhappy they lock my btc without warning. You can send them in without verification but not out. This is a huge trap. No good way to become legitimate.

[greyhawk]

I just tried to withdraw funds from MtGOX....

"Your account is currently pending review, please visit https://mtgox.com/forms/verification"

This is bit-coins I recently placed into the account. They are now blocking the withdrawals and demanding verification... even to withdraw 2 bit-coins....

These were clean coins from mining.

Karpeles gotta eat. Gotta eat a lot. A LOT.

Are you sure he hasn't starved already? I mean, sure it would take a lot of time, but on the other hand no one has seen hair nor hide of him for, what, 8 weeks now. It could be possible.

[joesmoe2012]

I just tried to withdraw funds from MtGOX....

"Your account is currently pending review, please visit https://mtgox.com/forms/verification"

This is bit-coins I recently placed into the account. They are now blocking the withdrawals and demanding verification... even to withdraw 2 bit-coins....

These were clean coins from mining.

Karpeles gotta eat. Gotta eat a lot. A LOT.

Are you sure he hasn't starved already? I mean, sure it would take a lot of time, but on the other hand no one has seen hair nor hide of him for, what, 8 weeks now. It could be possible.

He probably has lots of magic cards he can sell if he desperately needs some money for food.

[MPOE-PR]

TOKYO - JAPAN - May 30, 2013

Statement Regarding Account Verifications

 The Bitcoin market continues to evolve, as do regulations and conditions of compliance for Mt. Gox to continue bringing secure services to our customers. It our responsibility to provide a trusted and legal exchange, and that includes making sure that we are operating within strict anti-money laundering rules and preventing other malicious activity.

 As a result, beginning May 30th, 2013 all Mt. Gox user accounts are required to be verified in order to perform any currency deposits and withdrawals.Bitcoin deposits do not need verification, and at this time we are not requiring verification for Bitcoin withdrawals.


has this changed sometime in the past 2 months with an official announcement?

Yes. Because MtGox' idea of "pr" is "lie every chance you get".

[🏰 TradeFortress 🏰]

Oh, so they hired Inaba.

[MPOE-PR]

And please stop claiming Gox be a Ponzi. This just creates fog on words. Gox offers a service, Ponzis don't do.

I wouldn't put money on MtGox having turned into a ponzi, but currently they are only *claiming* to offer a service. That's exactly what ponzies do too.

ok, the withdrawel-issue is annoying, and you're right, it seems they don't offer this service for real. But they have a lag machine, that's a service ...

FIFY. Also you forget the lying machine. Also "a service".

[zeroblock]

And please stop claiming Gox be a Ponzi. This just creates fog on words. Gox offers a service, Ponzis don't do.

I wouldn't put money on MtGox having turned into a ponzi, but currently they are only *claiming* to offer a service. That's exactly what ponzies do too.

ok, the withdrawel-issue is annoying, and you're right, it seems they don't offer this service for real. But they have a lag machine, that's a service ...

FIFY. Also you forget the lying machine. Also "a service".

+1 lol

[sayulita]

If anybody is waiting for a USD wire transfer from MtGox back to a US bank account PM me right away.

I have a way for you to get your money out of MtGox and into your hands immediately. No waiting, no fees, no headaches.

[greyhawk]

Does it involve guns?

[zeroblock]

If anybody is waiting for a USD wire transfer from MtGox back to a US bank account PM me right away.

I have a way for you to get your money out of MtGox and into your hands immediately. No waiting, no fees, no headaches.

Beware of things that sound too good to be true... 

[joesmoe2012]

Maybe just a scheme for some japanese people to get rich, I hear the transfers to japan are working just fine.

[Lohoris]

I am a japanese prince, nephew of an important and rich daimyo, I need your money in order to "unlock" the family gold, please send me your money I will give you like a guaranteed return of 500%, this isn't a nigerian scam, srsly.

[zeroblock]

I am a japanese prince, nephew of an important and rich daimyo, I need your money in order to "unlock" the family gold, please send me your money I will give you like a guaranteed return of 500%, this isn't a nigerian scam, srsly.

Haha 

[OhShei8e]

This makes sense to to me.  So the volume is close on bitstamp because that is where people are going to actually move money in/out of bitcoin, while all the day traders are sitting on gox.  Anyone buying bitcoins would be crazy to wire to mtgox instead of bitstamp.  I had a look at the order books, and bitstamp has about 5000 coins on each side within $10 of the current price.  Mtgox has 20-25k coins on each side.  So that is some 4-5x deeper.  Still, the trend is moving towards bitstamp.  

At the moment are 93,768฿ and 13,428.655$ in Mt. Goxs order book. You have to use full depth, e.g.:

https://data.mtgox.com/api/1/BTCUSD/depth/full

There's probably a lot more money on Gox. But what is in the order book is definitely there.

What safety deficiencies are you talking about?

You have no API keys. You always have to use your password that gives you full access to your account. Even for a bot, which runs on a dedicated server.

You have no hardware tokens (YubiKeys e.g.) for the 2FA. Only the Google authentication with your mobile phone.

[marcus_of_augustus]

Mt. Gox has been a honeypot (where willingly or unwittingly) since mid 2011.

I thought everyone knew that already?

dyodd.

[Mooshire]

You've been goxxed.

[DoomDumas]

wasn't it only fiat withdrawals that needed verification?...now you need verification for coin transfers too?...when did this change?

More than a year ago, when they started asking driver licence and utility bill for KYC compliance, I decided to remove all bitcoins from MtGox..  To do so, I had to send them my personal information.. I was outraged to being force to send them personal info to withdraw BTC !

Did'nt used MtGox since then, and happy to use alternative exchanges to trade.

Later, I read somewhere that they made mistake in the documents handling, and there may have lead to leak of info (not sure about the validity of this info)

I'm amaze that Gox still have that volume market share after all the stuff that happened.. to date...

[Nagle]

If anybody is waiting for a USD wire transfer from MtGox back to a US bank account PM me right away.

I have a way for you to get your money out of MtGox and into your hands immediately. No waiting, no fees, no headaches.

(All posts from that user appear to be ads for Bitcoin-Brokers.)

[joesmoe2012]

stop spreading FUD plz. Thanks

mt.gox is fine.

And who is that exactly?

Anybody seen any USD wires Monday?

[lunarboy]

Still waiting on bank transfer deposit onto Gox 18 business days and counting