Do NOT use MtGox, they have NO customer service AT ALL

[WiseOldOwl]

When a statement starts with I think, it is a hypothesis.

True.  I was supposed to be working and did not read carefully enough to see that.  Sorry.

The thing is, people are suspicious that there are no new accounts that they are referring too. When I brought up my issue, they said to get my account verified. I already have a verified account with 7.5X the normal limits!! They are making up the issues you are bringing up, there is no AML or terrorist BS, at least that's what some are saying.

I never read anything about AML or terrorism in anything from Mt Gox, but I also didn't spend much time seeking it.  I'm just postulating about the various things which could cause a delay.

I hope you are right that Mt Gox has just run out of money, but the evidence seems shaky to me.  If I had anything which could be remotely construed as questionable going on and Mt Gox was giving me a lot of grief, I'd be nervous and starting to plan my defense.

One way or another, big delays in dealing with funding could be costing people a bundle depending on the situation, particularly with Bitcoin losing so much value so fast.  I was in no big hurry when Tradehill 'messed' with me, but they got things worked out within a day of their stated time frame as I recall.

But that's the way free markets work, and the reason I like Bitcoin.  If Mt Gox gives people bad service and/or flat out steals their money, they'll loose customers and go under...Eventually

I've got very precious little sympathy for anyone who loses much to any Bitcoin related enterprise.  Bitcoin is not an appropriate playground for the weak and stupid at this time, and people who cannot stand the heat should get out of the kitchen as far as I am concerned.

These being valid statements,
The one biggest exchange and bitcoin entity is MtGox. And in this forum we like to watch crash and burn scenario's real time, especially because some of us are vested in various ways in these businesses.  That's all this is, a group of "watchdogs". To say people are dumb for dealing with gox is calling 99.9% of the community dumb(i think that is what you are saying?), everyone deals with gox. When dealing with other exchanges you are sometimes using gox and not even knowing it.

[plogank]

I recently moved 127 BTC out om MtGox without any trouble.  Of course I had to do it over two days because of the 100 BTC limit per day but it worked.

On the other hand, 127 BTC is not a lot of money....

[helloworld]

Mt Gox is highly secure against all kinds of attack threats and theft.






With the exception of insider jobs.



Another thought: Perhaps the big expense for them has been French lawyers?

[MtGox_Adam]

Hello,

We completely understand your frustrations with the recent AML procedures we've implemented. We messed up, and we've made new procedures to try and make up for it. We're all making an honest effort to do things better for our users.

For an explanation on what has happened, please read:

https://support.mtgox.com/entries/20471711-security-measures-explained

and my responses a post similar to this one here:

http://www.reddit.com/r/Bitcoin/comments/kyf25/mt_gox_has_held_my_money_hostage_for_a_week_now/

If you visit https://www.mtgox.com/forms/verification we will action your request within 24 hours.

[WiseOldOwl]

I just pulled out some BTC, but nothing when it comes to cash.
Also, don't really want to pull a large amount of btc out in case they dont fill the large order and it is in digivoid too. If anyone pulled out like 500 btc + please post..or any cash to dwolla.

Gox posted here*

I don't have a locked account as far as I know. Are you out of Dwolla Funds also??

[tvbcof]

These being valid statements,
The one biggest exchange and bitcoin entity is MtGox. And in this forum we like to watch crash and burn scenario's real time, especially because some of us are vested in various ways in these businesses.  That's all this is, a group of "watchdogs".

I think I've mentioned before that I have some money in reserve in the hopes that Mt Gox crashes the train and other exchanges do not.  But I've mostly given up on that eventuality and am not sure it would play out the way I'd initially hoped even if it did.  May not bring the price down much (as Bitcoin is already undervalued at this time in my analysis.)  But this is the basis for my hoping that you are right and Mt Gox is flat out old school insolvent.

To say people are dumb for dealing with gox is calling 99.9% of the community dumb(i think that is what you are saying?), everyone deals with gox.

I'd say that it is at the very least questionable to have more than 1/2 to 1/3 of your dealings with Mt Gox due to their legacy of fail.

Beyond that, I'll gladly call anyone a fool for having a) more than they need, and b) more then they can afford to lose with any exchange or anywhere but in separate encrypted wallets on one's own secure hardware.

When dealing with other exchanges you are sometimes using gox and not even knowing it.

'swhy it's good to diversify when one has no choice but to trust others (though in the interest of honesty, I must admit that I am not practicing what I preach here as much as I should.)

BTW, I can see any organization acting in a bizarre manner if they received an NSL (National Security Letter.)  In that case they are bound by law not to talk about it.  I've long pondered if that was not the reason that Dwolla would not speak to Tradehill in any way, shape, or form.  I have no idea if US NSLs are honored in Japan, but it wouldn't surprise me.  Japan is a vassal state of the US and a willing lick-spittle to boot (and, unrelated, now quite radioactive complements of GE who owns a fair chunk of the US government and Japan's own shitty disaster planning.)

[repentance]

At least the reddit post sounds like it came from a real person and not a bot which posts C & P answers in response to certain key words.

One thing which concerns me greatly is MtGox's failure to anticipate many of the events which have caused issues for their users.  They always seem to be reacting after the fact to foreseeable problems.  That makes me question whether they have strategies in place which will allow them to survive extended periods of diminished revenue or whether they're just winging it at the moment and hoping that some external factor will cause BTC price and trading volumes to increase again.

I'm not convinced that they fully understand the dynamics of the markets in which they operate and that's quite dangerous because it can very easily lead to the accounts in which they hold user funds being frozen indefinitely and the activities of the exchanges themselves being closely monitored by AML/CTF regulators.

[WiseOldOwl]

You cannot encrypt USD on a hard drive...

[payb.tc]

I just pulled out some BTC, but nothing when it comes to cash.
Also, don't really want to pull a large amount of btc out in case they dont fill the large order and it is in digivoid too. If anyone pulled out like 500 btc + please post..or any cash to dwolla.

can't do 500 because of my limits, but i just requested 100 btc and it got sent to me immediately.

if only $ were that fast... but then we might not have as much need for bitcoin.

[cypherdoc]

i have pulled out >1000 btc at a time.

[WiseOldOwl]

i have pulled out >1000 btc at a time.

recently?
like today or last night?

[Shortline]

I doubt they're insolvent.

I do strongly suspect they're dumping all the ready cash they have into the French legal system so they can keep drinking from the fount of euros they were so used to over the past year.

Magical Tux, if you're reading this, take it under consideration: let us get our money out of your rinkydink operation. Drop the fucking court proceedings and pay what you owe.

[Tuxavant]

I just sent in a support request to their info@ address to figure out the process to recover from a lost Yubikey... I got a response within a couple hours. Turns out the cat knocked it behind the dresser so I didn't need any further assistance, but they've always been reasonably responsive to my requests for assistance.

[cypherdoc]

i have pulled out >1000 btc at a time.

recently?
like today or last night?

no, not that recently.  i highly doubt they're having financial difficulties given the rates they charge and their recent philanthropy with the Bitomat issue and their donations to various vendors.

[RandyFolds]

i have pulled out >1000 btc at a time.

recently?
like today or last night?

no, not that recently.  i highly doubt they're having financial difficulties given the rates they charge and their recent philanthropy with the Bitomat issue and their donations to various vendors.

Spending money doesn't mean you can afford it, it just maintains the illusion that you can...

[Mt.Gox_Natalie]

We hereby confirm that we are not insolvent.  Our Dwolla transfers have now started going through.  Many of our users with accounts pending review have also had their documents and applications reviewed and approved from last week after we had our new interface for this process up.  They have subsequently been able to make their withdrawals.  We are sorry if you have had any troubles with the service at Mt.Gox.  Should your problems persist, please do not hesitate to contact us at the Support Desk (https://support.mtgox.com) and we will make every effort to response in a timely manner as well as address your problems.  

[WiseOldOwl]

We hereby confirm that we are not insolvent.  Our Dwolla transfers have now started going through.  Many of our users with accounts pending review have also had their documents and applications reviewed and approved from last week after we had our new interface for this process up.  They have subsequently been able to make their withdrawals.  We are sorry if you have had any troubles with the service at Mt.Gox.  Should your problems persist, please do not hesitate to contact us at the Support Desk (https://support.mtgox.com) and we will make every effort to response in a timely manner as well as address your problems. 

Thank You,
Please next time if it is just a matter of waiting for funds, overly clarify for us. People get paranoid with their money in some far off land.

[Jonathan Ryan Owens]

Yay!

Bitcoin isn't dead!

Also, I was (probably) wrong.

-jon

[Mt.Gox_Natalie]

We hereby confirm that we are not insolvent.  Our Dwolla transfers have now started going through.  Many of our users with accounts pending review have also had their documents and applications reviewed and approved from last week after we had our new interface for this process up.  They have subsequently been able to make their withdrawals.  We are sorry if you have had any troubles with the service at Mt.Gox.  Should your problems persist, please do not hesitate to contact us at the Support Desk (https://support.mtgox.com) and we will make every effort to response in a timely manner as well as address your problems. 

Thank You,
Please next time if it is just a matter of waiting for funds, overly clarify for us. People get paranoid with their money in some far off land.

Thank you for your suggestion and continued support to Mt.Gox.

[RandyFolds]

We hereby confirm that we are not insolvent.  Our Dwolla transfers have now started going through.  Many of our users with accounts pending review have also had their documents and applications reviewed and approved from last week after we had our new interface for this process up.  They have subsequently been able to make their withdrawals.  We are sorry if you have had any troubles with the service at Mt.Gox.  Should your problems persist, please do not hesitate to contact us at the Support Desk (https://support.mtgox.com) and we will make every effort to response in a timely manner as well as address your problems. 

Thank You,
Please next time if it is just a matter of waiting for funds, overly clarify for us. People get paranoid with their money in some far off land.

Thank you for your suggestion and continued support to Mt.Gox.

If you are taking suggestions...

Stop striving to sound like robots in your customer service interactions. If you aren't sending a bunch of canned form-letter responses, why do they sound so much like you are?