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Author Topic: [solved] Problems withdrawing bitcoins from MtGox  (Read 1893 times)
322i0n
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October 07, 2011, 07:55:03 PM
 #1

Any ideas why MtGox is not allowing the withdrawal of bitcoins from their exchange?

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saethan
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October 07, 2011, 08:00:48 PM
 #2

Don't have any btc there at the moment, but the option to withdraw btc is still available... what's it saying for you?
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October 07, 2011, 08:05:34 PM
 #3

i just withdrew some bitcoins to test, it showed up in my client in 5 seconds and waiting for confirmations now. I don't know if they are so fast with sub coin amounts

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322i0n
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October 07, 2011, 08:29:21 PM
 #4

seems to be working again now. must have been temporary.

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MagicalTux
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October 08, 2011, 12:47:37 AM
 #5

This is a known bug in bitcoind. Sometimes when we send funds, the original funds are too fragmented, and cannot be used to actually send anything. In that case it's often possible to send smaller amounts until the fragmented transactions are spent.

I already talked about this on #bitcoin-dev as it is a major issue, but haven't got any response. Instead we'll just use a different way of sending coins to prevent that bug from happening (should be fine starting next week).

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October 08, 2011, 03:46:02 AM
 #6

So is it okay to use mt gox? I've heard so many bad things about it and I'm consdering using tradehill instead.

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October 08, 2011, 04:42:15 AM
 #7

disclaimer : I m not a mtgox employee, but I m selling a service to mtgox ( IRC support and information watch ) ; the following is a personal opinion not related to the fact mtgox is also a customer of mine.

So is it okay to use mt gox? I've heard so many bad things about it and I'm consdering using tradehill instead.

 Yes many people are saying bad things of mtgox, many also have a referral link for other exchanges in their signature . . .

 Mtgox is a real company, based in japan, it works pretty well even if nothing is perfect.

 Most of the people complaining about mtgox are complaining because of AML ( anti money laundering ) limits.

 Yes mtgox, being a real company, is respecting AML laws, and some dont like it.
 Mtgox need to have bank accounts to provide a useful service, and banks ask them to respect some rules ( typicaly AML systems ) to keep the accounts opened.

 The important point for me is that mtgox is a real company, with a public whois, they wont disappear with your money like it happened with mybitcoin or moonco.in and others.

 The worst thing that can happen with mtgox is having delays on withdrawals, the volume being very big, you can sometimes experience delays on SEPA/paxum/dwolla/LR withdrawals; those are just delays, your money wont be lost, mtgox wont disappear, thats the important point for me.

 Since Magicaltux bought mtgox from Jed ( historical mtgox owner ) they have invested much time and work on making it more secure, fixing problems, securing offline storage, adding yubikey ( One time Password system ) . . .

 I sell a service to mtgox, but I m also a bitcoin trader, and I consider mtgox as being the most secure and trusted exchange you can find.

 If you are still afraid by all the people FUDing about mtgox, I also use ( and trust ) bitparking ( https://exchange.bitparking.com )  and exchb ( https://www.exchangebitcoins.com ) exchanges.


doublec
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October 08, 2011, 04:56:16 AM
 #8

This is a known bug in bitcoind. Sometimes when we send funds, the original funds are too fragmented, and cannot be used to actually send anything. In that case it's often possible to send smaller amounts until the fragmented transactions are spent.
I got this a lot in my alternate block chain exchanges as well. It's very frustrating.
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October 08, 2011, 05:46:27 AM
 #9

i only use mtgox and will always theyre the best never had one issue with them

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October 08, 2011, 06:58:50 AM
 #10

sorry for hijacking this thread but do people ever use both mtgox and tradehill? Because it seems the prices vary a lot, like when the bitcoin hit $3.80 and tradehill stayed around $4.10. By switching between both, can I somehow maximize my profits even more?

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neofutur
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October 08, 2011, 07:33:28 AM
 #11

sorry for hijacking this thread but do people ever use both mtgox and tradehill? Because it seems the prices vary a lot, like when the bitcoin hit $3.80 and tradehill stayed around $4.10. By switching between both, can I somehow maximize my profits even more?

yes, this is called arbitrage, afaik many are doing it, you could also be interested in mtgox<->exchb arbitrage

mtgoxCharlie
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October 13, 2011, 09:54:09 AM
 #12

This is due to an security reason to make sure that you have control over your account and for this to become unblocked, you would have to send in some ID and other information to their verification page.  It is best to go to Mt.gox support page and ask the support if your account has been blocked to withdraw any funds.

322i0n
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October 13, 2011, 09:59:58 AM
 #13

This is due to an security reason to make sure that you have control over your account and for this to become unblocked, you would have to send in some ID and other information to their verification page.  It is best to go to Mt.gox support page and ask the support if your account has been blocked to withdraw any funds.

This problem was addressed by MagicalTux above. nothing to do with account verification.


This is a known bug in bitcoind. Sometimes when we send funds, the original funds are too fragmented, and cannot be used to actually send anything. In that case it's often possible to send smaller amounts until the fragmented transactions are spent.

I already talked about this on #bitcoin-dev as it is a major issue, but haven't got any response. Instead we'll just use a different way of sending coins to prevent that bug from happening (should be fine starting next week).

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mtgoxCharlie
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October 14, 2011, 07:56:51 AM
 #14

Well I thought you were blocked from withdrawing the funds.  Sorry ! 
322i0n
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October 14, 2011, 05:13:41 PM
 #15

no worries, thanks for helping.

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