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Author Topic: Avoid MT.GOX guys  (Read 711 times)
chatterhead
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September 26, 2013, 05:52:07 AM
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I have been with them for almost a year by now, have had nice experience using their service and also draw money out a couple of months ago, but I think their finance situation is doomed now.

Recently I tried to wire all my money out, I put in the instruction and there was no response for over a week.  So I raised a ticket to check, the support responsed that their bank implied a restriction on any withdrawal...with no ETA what so ever my withdrawal instruction will be executed.

After a couple of mails, they then offered me an option to do "manual transfer" back to my account with a handling fee of 6%!
Well, if I can get my money back, 6% is also fine.  But then the fine print is, the transaction will at least (NOT AT MOST) take two weeks.

Meaning paying the extra 6% does not give me any better news.

Its so obvious that MT.GOX can only give you the money back when they have some new people depositing into their account...you should all stay away from it.
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Each block is stacked on top of the previous one. Adding another block to the top makes all lower blocks more difficult to remove: there is more "weight" above each block. A transaction in a block 6 blocks deep (6 confirmations) will be very difficult to remove.
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September 26, 2013, 07:16:48 AM
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Thanks for the info. You could always get coins and transfer the coins elsewhere that allows you to get the funds easier, other exchange or whatever.
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September 26, 2013, 08:01:18 AM
 #3

there is a big thread on this forum about mtgox's withdrawal problems. I've been waiting for a month, cancelled my request,  bought btc back and transferre them to my wallet. I don't expect mt.gox will improve the situation soon.
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September 26, 2013, 09:26:52 AM
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After a couple of mails, they then offered me an option to do "manual transfer" back to my account with a handling fee of 6%!
Well, if I can get my money back, 6% is also fine.  But then the fine print is, the transaction will at least (NOT AT MOST) take two weeks.



Handling fee 6%, this is ridiculous!
RIP

xray
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September 26, 2013, 09:50:54 AM
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Same problem here , also put all investment into btc and transferred to my wallet. now free to go where I feel is good
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September 26, 2013, 10:06:36 AM
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They are too slow for long time and it's not changing to better.
Phar
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September 26, 2013, 11:22:04 AM
 #7

I personally don't think that Mt. Gox has liquidity problems. The main issue seems to be that now that they've been flagged by the U.S. DHS for illegal activities, no sane bank will want to have anything to do with them. Getting partnerships with banks for Bitcoin-related businesses is hard enough as it is, and this only makes it worse. According to this article they currently have a limit of 10 wire transfers per day with their bank. So yeah, unless this situation improves, a withdrawal request submitted today could easily take years to clear.
xypos
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September 26, 2013, 12:40:48 PM
 #8

Yes, we know that for months














 

 

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FlensGold
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September 26, 2013, 12:57:19 PM
 #9

You could also use www.bitcoin.de for buying/selling bitcoins. I already traded there several times having my bitcoins latest two days after payment. Also the fees seem to be lower than mt. gox.
You can also use my referal link if you like: https://www.bitcoin.de/de/r/utum2h
Kind regards
chaolang
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September 26, 2013, 01:20:17 PM
 #10

how about btc e?
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September 26, 2013, 06:23:41 PM
 #11

mt gox scares me. them being out $10 mil makes me very scared for having $ there.

Anon135246
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September 26, 2013, 06:24:37 PM
 #12

Mt Gox has been bad for a while. I stay away from it.
Jim Stone
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September 26, 2013, 08:52:30 PM
 #13

I have been with them for almost a year by now, have had nice experience using their service and also draw money out a couple of months ago, but I think their finance situation is doomed now.

Recently I tried to wire all my money out, I put in the instruction and there was no response for over a week.  So I raised a ticket to check, the support responsed that their bank implied a restriction on any withdrawal...with no ETA what so ever my withdrawal instruction will be executed.

After a couple of mails, they then offered me an option to do "manual transfer" back to my account with a handling fee of 6%!
Well, if I can get my money back, 6% is also fine.  But then the fine print is, the transaction will at least (NOT AT MOST) take two weeks.

Meaning paying the extra 6% does not give me any better news.

Its so obvious that MT.GOX can only give you the money back when they have some new people depositing into their account...you should all stay away from it.

+1
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