Mt.Gox Held Funds for 8 Months

[Augustinus430]

Greetings To All:

Back in January I decided that I wanted to purchase Bitcoins.  I suppose that it was required to use some sort of "exchange" broker, and according to what I had read at the time Mt.Gox were the ones to go to.  Mt.Gox transferred the funds ($145 USD) from my checking account on 4 January 2013.  I provided a myriad of supporting documents as required by Mt.Gox.  Life took over and I forgot about the purchase.  On 13 August 2013, I receive an email from Mt.Gox stating that they received $136 USD into my account.  The very next day I am told that the supporting documents were not sufficient and that I was to resubmit within 5 days.  Well, the cost of 1 BTC in January 2013 was around $15 USD.  As I write today, 1 BTC = $138 USD a loss for me of about $1K.  Do I have any recourse?  Your thoughts!!!

Cheers

[btc4ever]

My thoughts.  Learn your lesson and buy bitcoin locally.  Avoid the online exchanges like the plague.  rule of thumb:  If they are asking for your identity documents, they are agents of the broken legacy system.

Buying locally = receive your bitcoin instantly, in person.  no papers.

Recourse?   maybe.... good luck.

[makebitcoin]

I would advise to use BTC-E for further transaction or buy locally

[b!z]

Get your funds out of mtgox asap and move to a different exchange like Bitstamp or bitcoin.de.

[dha]

Agree.

mtgox is yet another great example of "if it sounds too good to be true, it is not true".

the exchange rate (USD/BTC and EUR/BTC) is constantly about 10% over any other exchange.
looked like a great opportunity to the newbie I am.

Now waiting the second month for my "confirmed" withdrawals (once thought of as profits) to be processed...

They seem to have some serious liquidity problem with EUR payments, which is not the best of all signs.
I hope they get it sorted out soon (although the spread will then shrink very fast).

bitstamp, bitcoin.de, and bitcurex on the other hand worked for me just as promissed.
swift in, swift out. just like trading should be.


btw: hello all! , as this is my first post.

[greyhawk]

Greetings To All:

Back in January I decided that I wanted to purchase Bitcoins.  I suppose that it was required to use some sort of "exchange" broker, and according to what I had read at the time Mt.Gox were the ones to go to.  Mt.Gox transferred the funds ($145 USD) from my checking account on 4 January 2013.  I provided a myriad of supporting documents as required by Mt.Gox.  Life took over and I forgot about the purchase.  On 13 August 2013, I receive an email from Mt.Gox stating that they received $136 USD into my account.  The very next day I am told that the supporting documents were not sufficient and that I was to resubmit within 5 days.  Well, the cost of 1 BTC in January 2013 was around $15 USD.  As I write today, 1 BTC = $138 USD a loss for me of about $1K.  Do I have any recourse?  Your thoughts!!!

Cheers

Recourse? You'll be lucky if you ever get your dollars out of there. Bro-Tip: You won't get your dollars out of there.