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Author Topic: Blast from the past! Mtgox: Promises and Reality  (Read 778 times)
ineededausername
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December 18, 2011, 10:18:04 PM
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Everything will still work the same as always for the time being. But expect a lot of positive changes after he takes over including:
Automatic (and free) funding from Euro accounts.
Automatic ACH deposit and withdrawal.
Margin trading.
Interface redesign.
Lifting the $1000 a day withdrawal limit.

I'll leave you to decide how Mtgox is doing.

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Drifter
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December 18, 2011, 10:34:12 PM
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Everything will still work the same as always for the time being. But expect a lot of positive changes after he takes over including:
Automatic (and free) funding from Euro accounts.
Automatic ACH deposit and withdrawal.
Margin trading.
Interface redesign.
Lifting the $1000 a day withdrawal limit.

I'll leave you to decide how Mtgox is doing.

I'm guessing this was from Jed?
Well, MTG was a US only exchange then I believe. The interface has been redesigned and the $1000 limit can be lifted by verification. No margin trading. No automatic ACH but Dwolla has essentially taken charge of that. Furthermore it hasn't even been a year.

I think they're doing pretty good.

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December 19, 2011, 01:36:28 AM
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I'm guessing this was from Jed?
Well, MTG was a US only exchange then I believe. The interface has been redesigned and the $1000 limit can be lifted by verification. No margin trading. No automatic ACH but Dwolla has essentially taken charge of that. Furthermore it hasn't even been a year.

I think they're doing pretty good.

Interesting, I'm a verified MtGox customer and my limit is still $1000.  I just checked.  Not that I'm going to withdraw that amount any time soon.

If you like this post a donation would be nice....  1PhCzA9o1jcwHr7PR4mxea8nJYUJWpKAGb

Besides, It'll drive me crazy trying to figure where it came from.
casascius
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December 19, 2011, 01:39:22 AM
 #4

Be thankful for the limits if you ever get hacked.

The limit gets raised if you ask.

Companies claiming they got hacked and lost your coins sounds like fraud so perfect it could be called fashionable.  I never believe them.  If I ever experience the misfortune of a real intrusion, I declare I have been honest about the way I have managed the keys in Casascius Coins.  I maintain no ability to recover or reproduce the keys, not even under limitless duress or total intrusion.  Remember that trusting strangers with your coins without any recourse is, as a matter of principle, not a best practice.  Don't keep coins online. Use paper wallets instead.
ineededausername
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December 19, 2011, 02:51:35 AM
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it hasn't even been a year.

Please explain to me how something like margin trading takes more than a year.  In fact, mtgox was so slow that zhoutong went ahead and made Bitcoinica.

Now mtgox wants to reverse the effects of their incompetence by blocking Bitcoinica from timely withdrawals.

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zhoutong
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December 21, 2011, 02:52:27 AM
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it hasn't even been a year.

Please explain to me how something like margin trading takes more than a year.  In fact, mtgox was so slow that zhoutong went ahead and made Bitcoinica.

Now mtgox wants to reverse the effects of their incompetence by blocking Bitcoinica from timely withdrawals.

Seriously, if I work at Mt. Gox, I wouldn't be able to finish margin trading in a year. Mt. Gox has a very professional trading engine and I don't know how to add margin trading facility effectively.

That's why Bitcoinica is not an exchange and will never be. I initially had the idea of Bitcoinica on September 3, shared with a few friends, and then launched on September 9.

Founder of NameTerrific (https://www.nameterrific.com/). Co-founder of CoinJar (https://coinjar.io/)

Donations for my future Bitcoin projects: 19Uk3tiD5XkBcmHyQYhJxp9QHoub7RosVb
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