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Author Topic: Mt. Gox Announcement - Extension of Reduced Trade Fees  (Read 1557 times)
MtGox_Adam
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July 14, 2011, 03:40:16 AM
 #1

Dear Mt. Gox users,

We are pleased to announce that as a way to say we sincerely appreciate our customers who are “hanging in there” with us as we recover from the “hackcrash” (not to mention our growing pains), we will be extending the current discounted trade fees.

Those who are trading at 0% will continue at that rate until July 27. After the July 27 customers with the 0% trade fees will migrate to 0.3% trade fees which they will be able to take advantage of until August 9.

Those who were trading at 0.3% will continue at the same rate until August 9

We would also like to remind those users who are trading at 0% that they are eligible for a free YubiKey, a new One Time Password security feature at Mt.Gox that will ensure the security of your online transactions with us. Unfortunately, we will only be able to offer this for a short time so please make sure to order your key at http://Yubikey.mtgox.com (be sure to login) before July 27.

Sincerely,

-Mt. Gox Team.

https://mtgox.zendesk.com/entries/20273158-announcement-extension-of-reduced-trade-fees

If you are having trouble with your Mt.Gox account please visit https://support.mtgox.com or email our Helpdesk at support@mtgox.com

Authorized Mt.Gox Help Desk staff on this forum operate under the following handles: "Mt.Gox Support", "Mt.Gox_Natalie", "mtgoxCharlie" and "bitflower"
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dinzy
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July 14, 2011, 05:03:14 PM
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Why not just keep it at .3%?  Volumes have been low with 0% and are unlikely to do better when fees go form 0 to .3 and then double to 0.6 or .65 or whatever.

If the market stays as stable as it is there will be no incentive for people to trade since any profits will go to fees.  If it stays at 14 one needs nearly a .2 change to break even.  But then again it's not like 0% fees are helping anyone too much either. 
AtlasONo
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July 14, 2011, 08:09:58 PM
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What happens August 9? I forget what the fees were before.
r4in
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July 14, 2011, 08:12:17 PM
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Have you ever considered to offer a special fee for active traders where you place a fee on withdrawals/profits rather than percentagewise per trade? This would provide more liquidity to the market because it enables the use of many short term trading strategies that cannot be employed with a relative fee on each transaction.
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July 15, 2011, 05:56:21 AM
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What happens August 9? I forget what the fees were before.

I think they were .65%
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July 16, 2011, 01:49:43 PM
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It'd be nice if mtgox could send out my LR withdrawals in less than 72 hours. All you have to do is hit a button.

It makes me wonder if mtgox actually has 100% reserves of the money it is supposed to.
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July 16, 2011, 02:47:32 PM
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It'd be nice if mtgox could send out my LR withdrawals in less than 72 hours. All you have to do is hit a button.

It makes me wonder if mtgox actually has 100% reserves of the money it is supposed to.

It takes time to convert funds from USD to LR, and LR is totally unbalanced (we get way more LR withdraws than deposits). This forces us to convert LR all the time, and also explains the 1% fee.

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July 16, 2011, 06:25:22 PM
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How can you trade at 0% ?

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July 17, 2011, 12:23:57 AM
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How can you trade at 0% ?

I think its for some of the older Mt. Gox accountholders.
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July 17, 2011, 11:38:30 AM
 #10

It is my belief that it's the 0% traders (with or without bots) that are driving the price downward. I guess I'll wait awhile before I buy more bitcoins.

Any significantly advanced cryptocurrency is indistinguishable from Ponzi Tulips.
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July 18, 2011, 08:26:23 AM
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It takes time to convert funds from USD to LR, and LR is totally unbalanced (we get way more LR withdraws than deposits). This forces us to convert LR all the time, and also explains the 1% fee.

and holding a surplus of liberty reserve so that customers wouldn't need to wait a week, well, that's crazy talk!
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July 18, 2011, 04:36:33 PM
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It takes time to convert funds from USD to LR, and LR is totally unbalanced (we get way more LR withdraws than deposits). This forces us to convert LR all the time, and also explains the 1% fee.

and holding a surplus of liberty reserve so that customers wouldn't need to wait a week, well, that's crazy talk!

Yeah, that's pretty crazy. It would be impossible to "hold a surplus" under those conditions.

15UFyv6kfWgq83Pp3yhXPr8rknv9m6581W
Nemesis099
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July 18, 2011, 05:45:28 PM
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Anyone have the Yubikey?

I keep going back and forth on if I should get one with the one issue being that I can't log into the site from my phone then.

I'm just curious what everyone else thinks of them.
brocktice
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July 22, 2011, 03:30:05 PM
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Anyone have the Yubikey?

I keep going back and forth on if I should get one with the one issue being that I can't log into the site from my phone then.

I'm just curious what everyone else thinks of them.

I like it so much I ordered a few more for other uses. My phone's not very secure anyway so I decided to just stop using it. However, now with the acquisition of mtgoxlive, maybe this won't be an issue soon?

http://media.witcoin.com/p/1608/8----This-is-nuts

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