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Author Topic: Why doesn't gox have money in their Dwolla?????  (Read 2412 times)
WiseOldOwl
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October 07, 2011, 04:37:18 PM
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Gox stated they don't have money in their dwolla, and they are waiting for some to transfer in.
This sounds like a newly opened exchange, not one with the most experience by far.
Hopefully they-
1) Have the money still.
2) Trust Dwolla more than it looks like.
3) Hurry it up.

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October 07, 2011, 05:03:27 PM
 #2

Gox stated they don't have money in their dwolla, and they are waiting for some to transfer in.
This sounds like a newly opened exchange, not one with the most experience by far.
Hopefully they-
1) Have the money still.
2) Trust Dwolla more than it looks like.
3) Hurry it up.

The only way to avoid Dwolla reversing an ACH is to pull the money out of Dwolla right away.  Dwolla can't deduct from a 0 balance.  TradeHill learned that the hard way.  And unfortunately if Dwolla continues the policy of subtracting money from your account in event of a dispute, then I wouldn't leave any balance there either.


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October 07, 2011, 05:04:15 PM
 #3

I transferred money out of Gox to Dwolla on Wednesday night (5th) and its still not in my account.   Anyone know wtf is going on?
WiseOldOwl
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October 07, 2011, 05:08:30 PM
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I transferred money out of Gox to Dwolla on Wednesday night (5th) and its still not in my account.   Anyone know wtf is going on?
They don't have the money in the account.

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October 07, 2011, 05:14:50 PM
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I transferred money out of Gox to Dwolla on Wednesday night (5th) and its still not in my account.   Anyone know wtf is going on?
They don't have the money in the account.



So how do I get paid?  Or is mtgox playing games?
WiseOldOwl
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October 07, 2011, 05:30:38 PM
 #6

We have to wait until they transfer funds in.
Also, there is no reason the dwolla account cant go negative right?
Gox stated they don't have money in their dwolla, and they are waiting for some to transfer in.
This sounds like a newly opened exchange, not one with the most experience by far.
Hopefully they-
1) Have the money still.
2) Trust Dwolla more than it looks like.
3) Hurry it up.

The only way to avoid Dwolla reversing an ACH is to pull the money out of Dwolla right away.  Dwolla can't deduct from a 0 balance.  TradeHill learned that the hard way.  And unfortunately if Dwolla continues the policy of subtracting money from your account in event of a dispute, then I wouldn't leave any balance there either.



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WiseOldOwl
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October 07, 2011, 05:31:09 PM
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Now Bitcoins are at 4$...

edit 4.16

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tvbcof
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October 07, 2011, 05:46:09 PM
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Now Bitcoins are at 4$...

edit 4.16

But I watched Immanuel Goob's youtube vid last night and he said BTC would never go down.  How can this be???

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October 07, 2011, 06:05:24 PM
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I made a transfer from gox to dwolla 24 hours ago and it was processed in under 15 minutes, again today...so they have money in there? Maybe?
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October 07, 2011, 06:19:23 PM
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I made a transfer from gox to dwolla 24 hours ago and it was processed in under 15 minutes, again today...so they have money in there? Maybe?

I'd be immediately suspicious that the new guy is trying to start a panic about Mt Gox.

I wish him luck because one of my strategies (for world domination or whatever) is build loosely around this happening. But I've pretty much given up on that.  At this point, Mt Gox is so big that even if they were crooks they would likely be terrified of executing a B7 end-game or even worse, that they get legitimately robbed because nobody is going to believe them.

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October 07, 2011, 06:29:58 PM
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I made a transfer from gox to dwolla 24 hours ago and it was processed in under 15 minutes, again today...so they have money in there? Maybe?

I'd be immediately suspicious that the new guy is trying to start a panic about Mt Gox.

I wish him luck because one of my strategies (for world domination or whatever) is build loosely around this happening. But I've pretty much given up on that.  At this point, Mt Gox is so big that even if they were crooks they would likely be terrified of executing a B7 end-game or even worse, that they get legitimately robbed because nobody is going to believe them.


I'm not trying to start panic, the total of my transactions was ~$300 USD, so maybe they're giving smaller withdrawals out first? I don't know, but we should get someone from Gox in here to explain why this might be.
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October 07, 2011, 06:51:59 PM
 #12

You know this is how bank runs are started... a post like this leads to a massive sell and withdraw attempts from said organization.    Even if it's not the case,  it will become the case if enough people believe that Mt. Gox has no money.

I'm not trying to tell you what to say,  but honestly a single post like this could spread to a disaster,  when there was no disaster in the first place.



    

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October 07, 2011, 07:02:57 PM
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You know this is how bank runs are started... a post like this leads to a massive sell and withdraw attempts from said organization.    Even if it's not the case,  it will become the case if enough people believe that Mt. Gox has no money.

I'm not trying to tell you what to say,  but honestly a single post like this could spread to a disaster,  when there was no disaster in the first place.

This has happened many times.  Each time Mt Gox has jumped on the forum and provided a plausible explaination to the puzzle, or at least that has been my general perception.

It is of course not their duty to use any forum as a technical support channel and, arguably, not good business practice.  But it does seem to be somewhat effective.  And they own this forum as I understand it.

An obvious and probably legitimate response would be to move this thread out of the limelight if nothing else.

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October 07, 2011, 08:19:21 PM
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I'm not trying to start panic, the total of my transactions was ~$300 USD, so maybe they're giving smaller withdrawals out first? I don't know, but we should get someone from Gox in here to explain why this might be.

Four days ago I transferred $1974.00 from Gox to Dwolla with zero problems and from Dwolla to BOA where it is right now.

I'm calling this FUD.


Was it an immediate transfer for you?   Do you know why I'd be waiting a few days for a $147 transfer?
JL421
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October 08, 2011, 02:26:42 AM
 #15



I'm not trying to start panic, the total of my transactions was ~$300 USD, so maybe they're giving smaller withdrawals out first? I don't know, but we should get someone from Gox in here to explain why this might be.

Four days ago I transferred $1974.00 from Gox to Dwolla with zero problems and from Dwolla to BOA where it is right now.

I'm calling this FUD.


Was it an immediate transfer for you?   Do you know why I'd be waiting a few days for a $147 transfer?
Ya, less than 15 minutes to dwolla receipt, so idk why transfers still haven't cleared. Maybe after the payments were started again the pending payments got passed over. I'd submit another support ticket.
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October 09, 2011, 10:52:37 AM
 #16

On Friday morning (Oct. 7th) I did a $250 withdrawal to Dwolla. 30 minutes later I did a $230 withdrawal to Paxum. The Dwolla showed up in a few hours. The Paxum has yet to arrive, and it is now 48 hours later. Support ticket submitted yesterday got the canned reply of 'higher than normal support volumes, 48-72 hours for a response, etc...'
WiseOldOwl
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October 10, 2011, 03:55:38 PM
 #17

Still no transfer...
Waiting still....

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WiseOldOwl
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October 10, 2011, 03:56:16 PM
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They have too many payment options and cant keep the money spread out fast enough.

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Jonathan Ryan Owens
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October 11, 2011, 04:14:35 AM
 #19

They have too many payment options and cant keep the money spread out fast enough.

I think you're being overly generous in your assumption, Mr. Owl. It's growing more clear by the day that MtGox is insolvent.

my 0.002 bitcoins.

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October 11, 2011, 05:52:15 AM
 #20

Hello,

We apologize for the delay with Dwolla withdrawals. We have already transferred funds into our account last week, and all Dwolla transfers will be processed shortly.

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