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Author Topic: why aurumxchange charges fee for LR to MtgoxUSD?  (Read 1299 times)
BillGalaxy
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January 18, 2012, 01:38:58 PM
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Before the new website of Mtgox came out, Mtgox took LR deposit themselves, we can deposit LR faster,easier, most important, NO FEE

After the new website of Mtgox comes out, Mtgox gave LR deposit service to aurumxchange, this, essentially, its not a bad thing.

However, the deposit situation is even worse now, aurumxchange charges fee 1% for this deposit(which they used to claim NO fee), yes, they can  of cause give many reasons for this, such as lr is in excess of demand etc. but such service is not what we need. we can also tell in the future they might charge more fee as they like to.

This will make MtgoxUSD < USD more complicated, this will break the fair exchange price chain.

I suggest Mtgox takes back this deposit service, and run by themselves again.

Any more ideas?
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antares
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January 18, 2012, 02:59:56 PM
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so who's going to cover the fees for LR transfers then? MtGox? AurumXchange?

I think that mtgox operated at a loss when they were accepting LR deposits without fees. Thing is, neither Aurum, nor MtGox can set the fees, the fees are set by LR themselves. So get over it.
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January 18, 2012, 03:09:17 PM
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so who's going to cover the fees for LR transfers then? MtGox? AurumXchange?

I think that mtgox operated at a loss when they were accepting LR deposits without fees. Thing is, neither Aurum, nor MtGox can set the fees, the fees are set by LR themselves. So get over it.

nope. you are wrong. the fee of LR is 1%,thats true. but Maxi $2.99. that means, if you use lr to send $1000, the fee is still $2.99. however, if you deposit 1000 LR from AurumXchange to Mtgox, you will be charged $10.

you still feel fair?
antares
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January 18, 2012, 06:03:12 PM
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thing is, when I deposited $1000 via LR into mtgox directly, I got exactly $1000, mtgox didnt charge a cent. that wasnt a sustainable business model for mtgox, which is probably why they interrupted it, instead of charging fees. So aurumXchange is the lesser evil now, or you go via bitinstant.
BillGalaxy
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January 18, 2012, 07:53:56 PM
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hope mtgox takes the deposit service back to themselves with the 1%, max $2.99 LR Fee
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January 23, 2012, 03:48:56 PM
 #6

hope mtgox takes the deposit service back to themselves with the 1%, max $2.99 LR Fee

FYI - At the moment, it is 100% free to deposit LR for MtGox. Sometimes, when the market is flooded with LR we need to charge a minimal fee of 1% for our customers to deposit via LR. This is, in principle, because when then have to turn around and sell the LR ourselves at wholesale, at a cost.

Unlike MtGox, we do not make any money on a trading fee, so we need to adjust accordingly when it is necessary.

Thanks for your understanding!
Roberto
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January 24, 2012, 02:06:17 PM
 #7

Free or 1%?

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January 26, 2012, 03:04:23 AM
 #8

Free or 1%?

Right now, and for the foreseeable future, buying MtGox coupons using Liberty Reserve from us is 100% FREE (We even absorb the Liberty Reserve commission).

You send $100 of LR, you get a $100 MtGox coupon Smiley

Thanks!
Roberto
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January 26, 2012, 12:01:32 PM
 #9

why cant we exchange mtgoxusd for something else at the moment?
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January 26, 2012, 12:12:49 PM
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why cant we exchange mtgoxusd for something else at the moment?

We have a few delayed wires from MtGox, and we are holding too much of it at the moment, so we cannot take more. As soon as MtGox is able to send us the wires, or people purchase more MtGox codes from us, you will be able to out exchange MtGox codes again.

Thank you
Roberto
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