Bitcoin Forum
December 12, 2017, 02:56:10 PM *
News: Latest stable version of Bitcoin Core: 0.15.1  [Torrent].
 
   Home   Help Search Donate Login Register  
Pages: [1] 2 »  All
  Print  
Author Topic: What is wrong with MTGox?  (Read 1216 times)
Jasc
Newbie
*
Offline Offline

Activity: 5


View Profile
October 30, 2013, 09:02:08 PM
 #1

I just downloaded MultiBit and made my first wallet an hour ago and have been reading up on bitcoin. I've seen a lot of disparaging posts about MTGox. Can anyone tell me what's up with that? Should I not use their services?

1632P11Zs3YoqbGAo2786XBoftzMTXv3wf
Advertised sites are not endorsed by the Bitcoin Forum. They may be unsafe, untrustworthy, or illegal in your jurisdiction. Advertise here.
1513090570
Hero Member
*
Offline Offline

Posts: 1513090570

View Profile Personal Message (Offline)

Ignore
1513090570
Reply with quote  #2

1513090570
Report to moderator
jasperf
Newbie
*
Offline Offline

Activity: 14


View Profile
November 03, 2013, 09:51:36 AM
 #2

As far as I know they seem to have withdrawal issues .
LeilaD.
Newbie
*
Offline Offline

Activity: 18


View Profile
November 03, 2013, 10:40:43 AM
 #3

I have no problen with MtGox!
It takes aproximately 3-4 days to verufied your account and then you can witdraw money/BTC easily.
LiteCoinGuy
Legendary
*
Offline Offline

Activity: 1148


In Satoshi I Trust


View Profile WWW
November 03, 2013, 11:34:33 AM
 #4

some years / month ago they were the number 1 exchange but then they got in trouble with some laws, regulation and banks.

they are searching for other bank partners now, building a new server system (called midas) and try to work with regulators.

at the moment they have withdrawal issues when you try to get your USD out.


in my opinion they will "be back" soon and then better than before  Wink.

they also will accept Litecoin in the future.

Jasc
Newbie
*
Offline Offline

Activity: 5


View Profile
November 10, 2013, 11:26:24 PM
 #5

some years / month ago they were the number 1 exchange but then they got in trouble with some laws, regulation and banks.

they are searching for other bank partners now, building a new server system (called midas) and try to work with regulators.

at the moment they have withdrawal issues when you try to get your USD out.


in my opinion they will "be back" soon and then better than before  Wink.

they also will accept Litecoin in the future.
Thanks for the response.

I tried verifying my account with them last week and it still hasn't gone through. No communication from them either. I emailed support three days ago and haven't gotten a response. Because of that, I would like to try a different online exchange. I've heard different names...coinbase, bitstamp, etc. but I don't really know which are more reputable, which have quicker withdrawal times, which are easier for a US based trader like myself to use. Any insight appreciated.

1632P11Zs3YoqbGAo2786XBoftzMTXv3wf
MaxBTC1
Jr. Member
*
Offline Offline

Activity: 56


View Profile WWW
November 10, 2013, 11:28:59 PM
 #6

Why Americans don't use btc-e is beyond me

Gator-hex
Hero Member
*****
Offline Offline

Activity: 490


View Profile
November 10, 2013, 11:29:17 PM
 #7

When there is a lot of interest in bitcoin they obviously get a lot of new accounts to verify (for anti-money laundering reasons) and it can take some time.

Seanzqt
Sr. Member
****
Offline Offline

Activity: 267


View Profile
November 10, 2013, 11:33:32 PM
 #8

I have no problen with MtGox!
It takes aproximately 3-4 days to verufied your account and then you can witdraw money/BTC easily.

Mt.Gox took over a week to verify mine from Australia  Undecided
Lauda
Legendary
*
Offline Offline

Activity: 1694


GUNBOT Licenses -20% with ref. code 'GrumpyKitty'


View Profile WWW
November 10, 2013, 11:46:34 PM
 #9

Don't use gox, they are having issues and you can't withdraw fiat.


          ▄▄█████▌▐█████▄▄
       ▄█████████▌    ▀▀▀███▄
     ▄███████████▌  ▄▄▄▄   ▀██▄
   ▄█████████████▌  ▀▄▄▀     ▀██▄
  ▐██████████████▌  ▄▄▄▄       ▀█▌
 ▐███████████████▌             ▀█▌
 ████████████████▌  ▀▀▀█         ██
▐████████████████▌  ▄▄▄▄         ██▌
▐████████████████▌  ▀  ▀         ██▌
 ████████████████▌  █▀▀█         ██
 ▐███████████████▌  ▀▀▀▀        ▄█▌
  ▐██████████████▌  ▀▀▀▀       ▄█▌
   ▀█████████████▌  ▀▀█▀     ▄██▀
     ▀███████████▌  ▀▀▀▀   ▄██▀
       ▀█████████▌    ▄▄▄███▀
          ▀▀█████▌▐█████▀▀
▬◉▬
▬◉▬
▬◉▬
▬◉▬
▬◉▬
▬◉▬
▬◉▬
▬◉▬
      ▄▄▄
 ▄▄█████████▄▄
  ▀▀▀▀▀▀▀▀▀▀▀
   █▌▐█ █▌▐█
   █▌▐█ █▌▐█
 ▄███████████▄
▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄






▄█████████████▄
▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀
███████████████
██▀▀█▀▀████████
▀█████████████▀
Yuki1988
Hero Member
*****
Offline Offline

Activity: 617



View Profile
November 11, 2013, 12:20:44 AM
 #10

I just downloaded MultiBit and made my first wallet an hour ago and have been reading up on bitcoin. I've seen a lot of disparaging posts about MTGox. Can anyone tell me what's up with that? Should I not use their services?

If you don't mind giving away your ID, and waiting for weeks for fiat withdrawal, mtgox is okay.


Munny
Newbie
*
Offline Offline

Activity: 1


View Profile
November 11, 2013, 12:47:15 AM
 #11

I just downloaded MultiBit and made my first wallet an hour ago and have been reading up on bitcoin. I've seen a lot of disparaging posts about MTGox. Can anyone tell me what's up with that? Should I not use their services?

They have been having Fiat withdrawal issues since many many months ago... so you can only buy BTC and transfer BTC... thats the main reason why the price is higher over there....
Gumbork
Hero Member
*****
Offline Offline

Activity: 585



View Profile
November 11, 2013, 01:43:24 AM
 #12

I just downloaded MultiBit and made my first wallet an hour ago and have been reading up on bitcoin. I've seen a lot of disparaging posts about MTGox. Can anyone tell me what's up with that? Should I not use their services?

MtGox and BFL are both scam company. Just stay away from them.....


              ▄
            ▄███▄
          ▄███████▄
   ▄▄▄    █
█████████
   ███
    ███████████▄
██    ████    ████████▄
      ████    ██████████
  ████    ████▀██████████
  ████    ██▀   ▀█████████▄
      █████       █████████▄
      ███▀         ▀████████
  ██████▀           ▀███████
  █████▀             ▀█████
   ████ █▄▄▄     ▄▄▄█ ████
    ███ ▀███████████▀ ███
     ▀▀█▄ █████████ ▄█▀▀
        ▀▀▄▄ ▀▀▀ ▄▄▀▀
●●
●●
●●
●●
●●
●●
|●  facebook
●  reddit
●  ann thread
|
█ ██
█ ██ █
█ ██ █
█ ██ █
█ ██ █
█ ██ █
█ ██ █
█ ██ █
█ ██ █
█ ██ █
█ ██

██ █
█ ██ █
█ ██ █
█ ██ █
█ ██ █
█ ██ █
█ ██ █
█ ██ █
█ ██ █
█ ██ █
██ █
mel2000
Member
**
Offline Offline

Activity: 79


View Profile
November 11, 2013, 03:54:20 AM
 #13

Why Americans don't use btc-e is beyond me
BTC-e has limited funding options for American users. I tried using LiqPay but couldn't get thru their incompetence. Currently, all bitcoin brokers catering to Americans have serious shortcomings.
EnderHf
Member
**
Offline Offline

Activity: 60


View Profile
November 11, 2013, 04:03:10 AM
 #14

Well from what I've heard they have alot of issues when you are withdrawaling USD from MtGox

Dialoz
Member
**
Offline Offline

Activity: 67


View Profile
November 11, 2013, 04:26:15 AM
 #15

I just downloaded MultiBit and made my first wallet an hour ago and have been reading up on bitcoin. I've seen a lot of disparaging posts about MTGox. Can anyone tell me what's up with that? Should I not use their services?

MtGox and BFL are both scam company. Just stay away from them.....

I don't think that comparison is fair.

MT.Gox is just having some issues with the rapid growth and the fact that more than 6mill USD is frozen by banks and so on.
Lauda
Legendary
*
Offline Offline

Activity: 1694


GUNBOT Licenses -20% with ref. code 'GrumpyKitty'


View Profile WWW
November 11, 2013, 02:10:28 PM
 #16

I have no problen with MtGox!
It takes aproximately 3-4 days to verufied your account and then you can witdraw money/BTC easily.
No you can't withdraw fiat.


          ▄▄█████▌▐█████▄▄
       ▄█████████▌    ▀▀▀███▄
     ▄███████████▌  ▄▄▄▄   ▀██▄
   ▄█████████████▌  ▀▄▄▀     ▀██▄
  ▐██████████████▌  ▄▄▄▄       ▀█▌
 ▐███████████████▌             ▀█▌
 ████████████████▌  ▀▀▀█         ██
▐████████████████▌  ▄▄▄▄         ██▌
▐████████████████▌  ▀  ▀         ██▌
 ████████████████▌  █▀▀█         ██
 ▐███████████████▌  ▀▀▀▀        ▄█▌
  ▐██████████████▌  ▀▀▀▀       ▄█▌
   ▀█████████████▌  ▀▀█▀     ▄██▀
     ▀███████████▌  ▀▀▀▀   ▄██▀
       ▀█████████▌    ▄▄▄███▀
          ▀▀█████▌▐█████▀▀
▬◉▬
▬◉▬
▬◉▬
▬◉▬
▬◉▬
▬◉▬
▬◉▬
▬◉▬
      ▄▄▄
 ▄▄█████████▄▄
  ▀▀▀▀▀▀▀▀▀▀▀
   █▌▐█ █▌▐█
   █▌▐█ █▌▐█
 ▄███████████▄
▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄






▄█████████████▄
▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀
███████████████
██▀▀█▀▀████████
▀█████████████▀
CrypticBits
Newbie
*
Offline Offline

Activity: 28


View Profile
November 11, 2013, 02:11:59 PM
 #17

Mtgox has their problems from time to time but in general, they can be trusted and they will fix their problems in time.

1MHYXTzpMXyfVjMCt1N3oLfhs5TH9u1g14
Goldentowns: Join through my referral link and earn pay-outs for leveling up! (http://www.goldentowns.com?i=33021) (Topic found here (https://bitcointalk.org/index.php?topic=333865.msg3582155))
jzcjca00
Sr. Member
****
Offline Offline

Activity: 263


View Profile
November 11, 2013, 02:32:18 PM
 #18

I requested a $1,000 withdrawal from Mt.Gox on 9/30/2013.  It sat for almost six weeks with no action.  I gave up and canceled the withdrawal request on 11/08/2013.  Now I'm forced to exchange back to bitcoins at highly inflated prices and withdraw the bitcoins.

Mt.Gox is fine if you're just day trading, converting back and forth between fiat and bitcoin.  However, if you're buying bitcoins, you get less for the money there, since they consistently trade at higher prices.  If you're selling, you cannot get the cash out, so that's not really an option.  So this is an overpriced, one-way exchange.

I also wonder about the long-term viability of a company that can't find a U.S. banking partner because they don't have the licenses required to provide financial services to U.S. customers.  The U.S. government has already seized $5 million and closed at least 2 U.S. accounts.  How long before they find some way to shut them down completely?

It's risky to do business with a company that's fighting with the U.S. government.

Tips much appreciated! 1PPJHDawPvjh6MEzsvXrMYLgpLmyAaNXUc
Eternity
Full Member
***
Offline Offline

Activity: 196



View Profile
November 11, 2013, 02:33:01 PM
 #19

There are no known issues
snowman1
Newbie
*
Offline Offline

Activity: 6


View Profile
November 11, 2013, 02:50:35 PM
 #20

Bad:
Their price is higher than elsewhere
The customer service/communication is quite poor
USD withdrawals are taking 3 months +
They have had some delays at times with BTC withdrawals

Good:
They have been around for a long time
They have a publicly known CEO who is available to chat on IRC
They have strong volume
They have fairly quick withdrawals for EURO/Yen
Pages: [1] 2 »  All
  Print  
 
Jump to:  

Sponsored by , a Bitcoin-accepting VPN.
Powered by MySQL Powered by PHP Powered by SMF 1.1.19 | SMF © 2006-2009, Simple Machines Valid XHTML 1.0! Valid CSS!