Mt. Gox - Oct 15...demand official update

[gnix72]

Last official update has been over 2 months.  I think we as a community should demand that Mt. Gox give us an update by 15 October or pull out of their exchange.

I've been patient, I can tolerate bumps in the road that are inevitable when you are breaking new ground. What I can't tolerate is misinformation and a lack of communication.  That's all I want...honesty, transparency, and responsiveness.  I don't care how ugly the truth is, as customers it is our right to demand it of the people we do business with.  If you ordered a product from Amazon would you tolerate a shipping status of: "Whenever I feel like it?"  If you paid for cable service and they never came to install it, would you be satisfied?  Gox is a business, providing a service to customers (us) like any other business on the planet.  If they are having problems, they must communicate them to us or lose our business.  As negative as you may be about BFL, at least they communicate and we can check our place in the queue with BFL_Jody.  In fact, communication is ESPECIALLY important when then are problems to restore confidence.

My list of grievances:
#1 We have been MISINFORMED with respect to the status of withdrawals.  They say a few weeks when it's a few months or more.  Just tell me the average withdrawal time of the last 20 transfers to USD, EUR, whatever and post that and keep it updated constantly/daily.  Or, tell me my queue position and give us a graph of the queue processing history.  I don't care if it's 3 days, 3 weeks, or 3 months, but I need to KNOW that it's 3 months so I can properly plan and run my business cash flow.  I can't manage cash flow when I don't know how long it takes to flow...

#2 There is no COMMUNICATION.  Hurdles I get, zero communication I do not.  If Midas and litecoin are taking longer because you can't afford it because the U.S. Government seized your money, then please just tell us and give us your best estimate.  If transfers aren't possible because banks won't do business with you, then just tell us what your prospects are, key milestones towards restoring that service, and keep us up to date.

We need the 411.  When we are led to speculate on what your reasons could be, we inevitably imagine the worst.  Accurate communication = trust.  Lack of communication = distrust.  Distrust leads to panic...panic is bad for bitcoin.  We all love bitcoin.  Don't do something that's bad for bitcoin, so please provide us with accurate communication.

That's all I ask.  I love Mt. Gox, I want them to succeed, I want them to provide good service to all of us so that bitcoin grows and we have a competitive stable bitcoin marketplace, but how long are we going to abide their ostrich communication strategy before we hold them accountable?  For me, the answer is 15 October.  If I don't see a press release before then, I'm pulling out.

[el_rlee]

IMHO bitcointalk.org, the bitcoin foundation, r/bitcoin, and all other highly frequented websites must warn users about the status of Mt.Gox.

MagicalTux is a highly dishonest person.

[Peter Lambert]

Last official update has been over 2 months.  I think we as a community should demand that Mt. Gox give us an update by 15 October or pull out of their exchange.

Goog luck with pulling your funds out now.

Why is anybody still using MtGox? I pulled all my funds off them months ago, right when Dwolla announced they would no longer be servicing MtGox.

[sturle]

Last official update has been over 2 months.  I think we as a community should demand that Mt. Gox give us an update by 15 October or pull out of their exchange.

Goog luck with pulling your funds out now.

Why is anybody still using MtGox? I pulled all my funds off them months ago, right when Dwolla announced they would no longer be servicing MtGox.

For their superior API, a decent multi-currency market (this is where I make most of my profit) and arbitrage against other exchanges.  I received an EUR withdrawal in September (took about two weeks), domestic JPY withdrawals take less than a week and BTC withdrawals are usually pretty much instant.  MtGox is still the largest exchange by far, in almost every currency, for good reasons.

It is about time they find a solution to the international wire problem, however.

[reb0rn21]

latest from Mark Karpeles twitter:
@TheBitcoinNews @TheBitcoinArmy Nothing much will happen on that front while the US govt is shutdown.

looks like the USA is to blame for withdrawal delay, I bet there is ongoing check for each money transfer in EU or USA

[MPOE-PR]

Dead horse.

It was time to pull out in April. Seriously, there's no reasonable incentive to have funds, or hope, in MtGox.

[tvbcof]

Dead horse.

It was time to pull out in April. Seriously, there's no reasonable incentive to have funds, or hope, in MtGox.

I dunno.  The goobmint (mine in this case) holding $5m and coinlabs on the hook for another $5m makes $10m that Karpeles cannot run away with.  He is also a known person with a significant and interesting business history and is unlikely to be able to disappear from the face of the earth as easily as some random plonker in Estonia or whatever like most of the competition.

I expect to get my money (though not necessarily from Karpeles) eventually or learn some things trying.  I've only put at risk the amount of money I can afford to have tied up for years or lose completely however.  That was deliberate from the get-go of my dealings with Mt. Gox (which started somewhat after they started having pretty obvious problems.)

[Nagle]

latest from Mark Karpeles twitter:
@TheBitcoinNews @TheBitcoinArmy Nothing much will happen on that front while the US govt is shutdown.

Classic con-man tactic - blame vaguely relevant current event.

Nothing in the financial system is shut down due to the U.S. Government shutdown.

What a bunch of suckers Mt. Gox customers are. When Mt. Gox failed to resume repayments after the two week "hiatus" back in June, it was clear there was real trouble.

[reb0rn21]

Then why ppl from japan can get $ in ONE day from MtGox, confirmed from two sources i know?

[smoothie]

Mtgox will not hurt bitcoin. Bitcoin is revolutionary technology. Mtgox is a horribly-managed and run exchange run by incompetent people.

Either incompetent or deliberately malicious. Pick your poison.

Bitcoin will be fine whether mtgox is here or not. Just like SR is now gone, who cares. A new one will likely emerge learning from the mistakes of the last one.

If gox ends up shutting down another exchange will replace it.

Technology doesnt wait for a business. Especially one that is run the way mtgox has been run for the past few years.

What I've done: Withdrew my funds via Bitcoin from mtgox and NEVER LOOKED BACK.

[YipYip]

If people are still trying to dodge the 5% cost overhead and have been waiting for 4-12 weeks and still no joy

Dont they think its time to look at the risk that they are engaging in and just take the 5% hit as a life lesson

Shit... things happen I would get out of gox ASAP .......SR Gone..... GOX GONE ... has a nice ring to it ??

[Alpaca Bob]

People still use MtGox?

[greyhawk]

what's a mtgox? 

[el_rlee]

Mount what?

[sturle]

MtGox is still the largest exchange by far, in almost every currency, for good reasons.

Perhaps you should get in touch with reality, Strue.

Last 24 hours

I cut the irrelevant part.  If you take an arbitrary 24 hour period, you can prove anything.  I've had larger 24 hour volume on OTC trading than CampBX on many days.  It doesn't mean my OTC exchange is larger than CampBX.

Try this average from the last 30 days:  http://bitcoincharts.com/charts/volumepie/

[greyhawk]

MtGox is still the largest exchange by far, in almost every currency, for good reasons.

Perhaps you should get in touch with reality, Strue.

Last 24 hours

I cut the irrelevant part.  If you take an arbitrary 24 hour period, you can prove anything.  I've had larger 24 hour volume on OTC trading than CampBX on many days.  It doesn't mean my OTC exchange is larger than CampBX.

Try this average from the last 30 days:  http://bitcoincharts.com/charts/volumepie/

Tell me Mr. Anderson, what good is an exchange if you're unable to withdraw?

[sturle]

MtGox is still the largest exchange by far, in almost every currency, for good reasons.

Perhaps you should get in touch with reality, Strue.

Last 24 hours

I cut the irrelevant part.  If you take an arbitrary 24 hour period, you can prove anything.  I've had larger 24 hour volume on OTC trading than CampBX on many days.  It doesn't mean my OTC exchange is larger than CampBX.

Try this average from the last 30 days:  http://bitcoincharts.com/charts/volumepie/

Tell me Mr. Anderson, what good is an exchange if you're unable to withdraw?

So far I have been able to withdraw EUR via SEPA and BTC, and this cover all my needs.  I usually sell BTC locally at higher than MtGox price instead of withdrawing fiat.  Saves time and fees.  Better sell at a profit than pay a fee to wait for the banks.

[Peter Lambert]

Mount what?

Mount a goat?

[BCB]

I'd be curious if any of these troll ever ran a business, or a financial services business, or a cutting edge financial services business under attack by governments around the world.

I would not count Mark Karpeles/Mt. Gox out yet.  He's been fighting the good fight longer then most of us.

And he's still standing.  In spite of all the jealousy and envy of his success.

[greyhawk]

And he's still standing. 

How do you know that? There hasn't been seen hide nor hair nor a peep heard from him for the last 5 months.