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Author Topic: MTGox Green Address Withdraw time  (Read 5231 times)
John (John K.)
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April 07, 2012, 04:05:23 PM
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Hey guys, I've tried to withdraw a small sum of btc using the green address method at mtgox.com, and it's been almost 4 hours yet I didn't see any sign of the coin coming to my address. How long does the green address withdrawal take?
Thanks~! Grin

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April 07, 2012, 04:54:14 PM
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I have seen that option on MtGox as well. I'm kinda curious what Green Address means.
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April 07, 2012, 05:12:14 PM
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I have seen that option on MtGox as well. I'm kinda curious what Green Address means.
It means it is sent from one specific address that is known to be theirs, and therefore can be trusted with zero confirmations.

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April 07, 2012, 10:28:59 PM
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and it's been almost 4 hours yet I didn't see any sign of the coin coming to my address. How long does the green address withdrawal take?

You are asking how long a transfer to an address to your local wallet?

Just to make sure you aren't overlooking the basics ...  you aren't seeing the transaction in the blockchain, correct?

If the amount was high (over aml limits for instance) or for other reasons they might have held the withdrawal.  If it isn't on the blockchain and the withdrawal didn't occur you'll need to contact the exchange.  Open a ticket using their Support website:
 - https://support.mtgox.com/home

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April 08, 2012, 12:46:17 AM
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and it's been almost 4 hours yet I didn't see any sign of the coin coming to my address. How long does the green address withdrawal take?

You are asking how long a transfer to an address to your local wallet?

Just to make sure you aren't overlooking the basics ...  you aren't seeing the transaction in the blockchain, correct?

If the amount was high (over aml limits for instance) or for other reasons they might have held the withdrawal.  If it isn't on the blockchain and the withdrawal didn't occur you'll need to contact the exchange.  Open a ticket using their Support website:
 - https://support.mtgox.com/home
Just woke and the btc haven't arrived yet. Yes, I've checked the blockchain and there's no transaction to it yet. I've even fired up my bitcoin client and there's no sign of the coin arriving. The History page inside MTGox says that the btc have been withdrawn to the correct address.
It shouldn't be an aml because the sum I withdrawn was 1 btc(I just wanted to test the green address out). Guess I'll open a tix with them and see what they say.

Thanks guys for the help.

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April 08, 2012, 03:55:16 AM
 #6

Yeah I used to like to check all the boxes with green address and open confirmation but the payment took about 12 hours to receive. Ever since then I never checked the boxes again.

tl;dr if you want your money fast from mtgox dont check the boxes.

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April 08, 2012, 03:59:22 AM
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Yeah I used to like to check all the boxes with green address and open confirmation but the payment took about 12 hours to receive. Ever since then I never checked the boxes again.

tl;dr if you want your money fast from mtgox dont check the boxes.

That was meant to be a test - thank goodness I only sent a paltry amount of coins. The tix was replied by the support, and they said that it's still in the pending stage and will be sent out later. And I thought Green Addresses were meant to speed things up!  Angry

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April 08, 2012, 08:13:38 AM
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That was meant to be a test - thank goodness I only sent a paltry amount of coins. The tix was replied by the support, and they said that it's still in the pending stage and will be sent out later. And I thought Green Addresses were meant to speed things up!  Angry

as long as the receiving site/wallet understands what a green address is. The only one that I know of is instawallet.

(just checked the wiki, btctip and btcpak also understand green addresses.)

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April 08, 2012, 08:17:47 AM
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Yeah I used to like to check all the boxes with green address and open confirmation but the payment took about 12 hours to receive. Ever since then I never checked the boxes again.

tl;dr if you want your money fast from mtgox dont check the boxes.

my understanding is that open confirmation is meant to be used for mtgox->mtgox btc transactions so that the transaction will appear in the blockchain.

for example, if I were to send from my btc account to your mtgox btc account, I would click the open confirmation so that blockexplorer/blockchain.info can be used to prove the transaction took place. Otherwise we would have to rely on mtgox support in the event of a disputed transaction (non-arrival, different amount etc.)

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John (John K.)
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April 08, 2012, 09:15:35 AM
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That was meant to be a test - thank goodness I only sent a paltry amount of coins. The tix was replied by the support, and they said that it's still in the pending stage and will be sent out later. And I thought Green Addresses were meant to speed things up!  Angry

as long as the receiving site/wallet understands what a green address is. The only one that I know of is instawallet.

(just checked the wiki, btctip and btcpak also understand green addresses.)

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That is, if the transaction were unconfirmed a green address would give people confidence hence accept the tx without waiting for 6 confirms. Problem is, the tx haven't even been confirmed YET!  Angry

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April 09, 2012, 09:58:35 AM
 #11

An update:

The transaction has not take place yet of now. It's been almost 2-3 days since I initiated this transfer, and I'm starting to think there's something wrong. Thank goodness I tested this with a single coin. Now I know what it means to be 'goxed'.   Angry

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April 09, 2012, 10:17:14 AM
 #12

Got this reply just now from MTGox:

Hello,

It may take several business days. Unfortunately, all bitcoin transfers are non-reveresible.

Please be aware that:

When withdrawing or depositing bitcoins into your Mt.Gox account there may occasionally be a delay depending on network congestion, your internet connection speed and the time required to get 6 confirmations on the network. If you're sending to your computer's wallet, it's good practice to keep your bitcoin client running so it can download the block chain. For those that may not know the block chain is the complete history of all transactions made on the bitcoin network, and as such it can take some time to update and download the most current block and see the bitcoins in your wallet.

We apologize for any inconvenience this may cause. If you have any further enquiries, please do not hesitate to contact Mt.Gox Support either by responding to this email (should the enquiry relate to this ticket) or by using the following support request form:

https://mtgox.zendesk.com/entries/20256702-contact-us

Thanks,

MtGox.com Team

----------------------------------------------------------------------------

The transaction is not even in the unconfirmed list yet, as they didn't even initiate the transaction yet. Hence, the strikeout part is totally not related and it seems like a canned response to me. Waiting for A SINGLE BITCOIN for 'a few business days? Then how long should I wait if I transfer 1k coins then?

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April 09, 2012, 10:20:51 AM
 #13

So you lost the withdrawal?

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April 09, 2012, 12:59:47 PM
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So was it deducted from your account balance, and shows in the transaction list?

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April 09, 2012, 04:12:52 PM
 #15

I have seen that option on MtGox as well. I'm kinda curious what Green Address means.
It means it is sent from one specific address that is known to be theirs, and therefore can be trusted with zero confirmations.
Actually it's NOT known to be theirs. Do you see it mentioned somewhere on the site ?

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April 09, 2012, 04:14:21 PM
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I have seen that option on MtGox as well. I'm kinda curious what Green Address means.
It means it is sent from one specific address that is known to be theirs, and therefore can be trusted with zero confirmations.
Actually it's NOT known to be theirs. Do you see it mentioned somewhere on the site ?
I was explaining the general concept of a green address, not whether it is accurately used in this case. I assume there is an API call available that will confirm this though.

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April 09, 2012, 05:18:13 PM
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So was it deducted from your account balance, and shows in the transaction list?

Yep. About the only place it hasn't showed up is in the blockchain/ unconfirmed list.

So you lost the withdrawal?
No, I don't think so - it is after all a single coin and I still have faith it'll eventually reach me.

Anyone else did a green address transfer on mtgox before?

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April 09, 2012, 07:31:40 PM
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Anyone else did a green address transfer on mtgox before?
Yes, I have once before. It showed up within the day I believe.
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April 10, 2012, 06:08:38 AM
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Anyone else did a green address transfer on mtgox before?
Yes, I have once before. It showed up within the day I believe.
Just got it last night. It's like 3 days from the start I initiated the transfer.

I was assuming the transaction would be sent out by the Green Address (1LNWw6yCxkUmkhArb2Nf2MPw6vG7u5WG7q ) stated by MagicalTux at : https://bitcointalk.org/index.php?topic=48170.0 , but instead I received it from:

Code:
1MVtwuuKvuzUa2mWiBnrA9UzqnP7tBaB9A (0.1 BTC - Output)
15sgsXuS7LPGPT18cjH5ecuUwPK6jTbFJZ (0.21206082 BTC - Output)
1BSX5JfYF9d4i7oU2DmQkbGFMqiQd7NoR3 (86.88689612 BTC - Output)

Which one would be the green address then?

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April 10, 2012, 06:11:09 AM
 #20

Huh, weird. I'm glad you got your coins though.
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