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Author Topic: MtGox supports Dwolla  (Read 10297 times)
MagicalTux
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May 14, 2011, 02:56:16 PM
 #1

As it seems some people still haven't noticed, let me announce that MtGox supports Dwolla both for deposits and withdrawals.

Deposits are only subject to Dwolla's $0.25 fee, and withdrawals too. No other fee will apply.

We are currently trying to see with Dwolla to support instant deposits (see http://www.dwolla.org/d - there are a bunch of topics by me, and some other guy who ask about bitcoins), however in the meantime those will still require me to login on Dwolla's website, and download the CSV statement.
More details: http://www.dwolla.org/d/showthread.php?510-subscribe_notifications-POST-notifications&p=617

So in the meantime, Dwolla transfers are typically handled within less than 1 hour during business hours (JST), and can take up to 8 hours if you happen to place a transaction at the exact time I go to sleep.


As for withdraws, they can be delayed (especially for higher amounts). We are working on this to make things more smooth.


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May 14, 2011, 07:41:10 PM
 #2

It worked well and fast for me,  thanks!

I am starting to use a gox as a verb....

I goxed my coins last night!   ( I turned them into USD )



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May 14, 2011, 07:43:34 PM
 #3

Why does Mt Gox not have some sort of "News/Announcement" page? would make things a lot easier than having to search through to forum to find any changes.

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May 14, 2011, 08:02:06 PM
 #4

That is really good news, Dwolla rocks. Congrats on your move.

Skype "digitalcurrency"
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May 14, 2011, 08:08:05 PM
 #5

We are currently trying to see with Dwolla to support instant deposits (see http://www.dwolla.org/d - there are a bunch of topics by me, and some other guy who ask about bitcoins), however in the meantime those will still require me to login on Dwolla's website, and download the CSV statement.

Why don't you just make some script to get the file and parse it automatically?

Sorry, I can't help you with your lost password.

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MagicalTux
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May 14, 2011, 10:21:17 PM
 #6

We are currently trying to see with Dwolla to support instant deposits (see http://www.dwolla.org/d - there are a bunch of topics by me, and some other guy who ask about bitcoins), however in the meantime those will still require me to login on Dwolla's website, and download the CSV statement.

Why don't you just make some script to get the file and parse it automatically?

Dwolla's CSV is broken, and require manual editing before it can be used (doesn't quote fields containing a , or newlines)
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May 14, 2011, 11:24:35 PM
 #7

Dwolla is highly recommended and when Mtgox sets up instant deposits watch out
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May 18, 2011, 05:13:54 PM
 #8

How long should it take to withdraw $1000 from mtgox to dwolla?
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May 18, 2011, 08:30:35 PM
 #9

How long should it take to withdraw $1000 from mtgox to dwolla?

1-4 days seems to be the norm.  Sometimes a lot faster, other times slower.

So long as you got the confirmation hash over on gox of the transfer though you're golden and just need to wait it out.
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May 18, 2011, 08:41:01 PM
 #10

my friend is having a problem where he's been waiting 8 days (probably 5 business days) for his bank of america transfer to show up at Dwolla.  Personally mine took i believe 2 business days with the same bank.  Anyone else have any issues with lead times on debiting your dwolla account?  My transfer from dwolla into mtgox was very swift, probably when magicaltux woke up that morning haha.
MagicalTux
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May 18, 2011, 10:03:37 PM
 #11

my friend is having a problem where he's been waiting 8 days (probably 5 business days) for his bank of america transfer to show up at Dwolla.  Personally mine took i believe 2 business days with the same bank.  Anyone else have any issues with lead times on debiting your dwolla account?  My transfer from dwolla into mtgox was very swift, probably when magicaltux woke up that morning haha.

I'm guessing Dwolla has to cope with a suddent surge in requests, and they weren't ready for this. Give them some time and everything will be fine.

If you are really worried you can contact them, I think they have a chat too.


Mark
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May 19, 2011, 12:33:48 AM
 #12

thanks excited to see the price rise to $8-9 dollars then buying a new graphics card
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June 02, 2011, 07:31:07 PM
 #13

I've read here 4 days or so, but I initiated a withdrawal from mtgox on the order of $50 to my Dwolla on 5/27 (which is 6 days ago right now). Is this common to wait this many days? I'm just wondering how much longer I can expect to wait.
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June 02, 2011, 08:59:25 PM
 #14

I sent 518.34 from MtGox to Dwolla on Friday (6 days ago) and got no confirmation.  I sent an email to info@mtgox.com yesterday and again today but no response.  I called Dwolla and they said positively there was no such transfer initiated from MtGox to my Dwolla ID.

MtGox needs a support line.  But at least they should reply to inquiries about a misplaced transfer!
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June 02, 2011, 09:50:50 PM
 #15

I sent 518.34 from MtGox to Dwolla on Friday (6 days ago) and got no confirmation.  I sent an email to info@mtgox.com yesterday and again today but no response.  I called Dwolla and they said positively there was no such transfer initiated from MtGox to my Dwolla ID.

MtGox needs a support line.  But at least they should reply to inquiries about a misplaced transfer!

I also made a withdrawal on Friday 5/27 that went missing, despite having successful withdrawals before and after that one.  Perhaps a whole batch of withdrawals failed to be processed that day.  I emailed Mt. Gox a few hours ago.
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June 02, 2011, 10:35:19 PM
 #16

I initiated another withdraw of $10.18 (MtGox --> Dwolla) over an hour ago.  We'll see if this goes through.
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June 03, 2011, 01:06:29 AM
 #17

The $10.18 just came in.  Took 4 hours.  Something must have happened on Friday.  Still no word from MtGox on the matter.
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June 03, 2011, 04:10:24 AM
 #18


I also made a withdrawal on Friday 5/27 that went missing, despite having successful withdrawals before and after that one.  Perhaps a whole batch of withdrawals failed to be processed that day.  I emailed Mt. Gox a few hours ago.


The $10.18 just came in.  Took 4 hours.  Something must have happened on Friday.  Still no word from MtGox on the matter.

Thanks for the information. Please post here if you hear from MtGox by email, or maybe they would respond here. Hopefully we hear something soon about this. I'll send an email as well.
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June 03, 2011, 08:35:14 PM
 #19

Got an email from mgtox asking for the reference number and stating they would look into this.
I sent them the reference number from my account history.
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June 04, 2011, 09:32:20 PM
 #20

Got an email from mgtox asking for the reference number and stating they would look into this.
I sent them the reference number from my account history.


I am at the same point currently. I received a similar email on the same day as your post.
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June 06, 2011, 06:55:13 PM
 #21

Last night MtGox re-queued my transaction and this time it went through.
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June 06, 2011, 07:09:19 PM
 #22

Last night MtGox re-queued my transaction and this time it went through.

Thanks for the update and I'm glad they took care of your issue. I've had no such luck yet with mine, but I hope the fact that yours was resolved means mine will be soon. Did they write you an email telling you they requeued or anything? I still haven't heard from them since they asked for the transaction id.
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June 06, 2011, 07:48:37 PM
 #23

I received email 1.5 days ago saying that mine was "marked for retry" but it hasn't gone through yet, nor have a couple of more recent withdrawals.

I wouldn't be surprised if there is a backlog while more funds are being added to Mt. Gox's Dwolla account or US bank account or something like that.
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June 06, 2011, 07:55:28 PM
 #24

So not just me that is having MtGox -> Dwolla issues, then....Good, I was a bit worried.  No response from support and/or the owner here, and I was a bit concerned.

I can wait - just curious what is going on.
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June 06, 2011, 09:33:20 PM
 #25

I'm waiting on a Dwolla withdrawal that I got a confirmation for yesterday. I was hoping to be able to get the money into Dwolla fairly quickly, since I know Dwolla takes time to do bank deposits. No luck though. I sent an email to Mt. Gox inquiring about it, but I haven't heard anything back yet (8 hours since). I need to get that payment processed so that I can get a bitcoin-powered business set up. It's going to be hard to get the bitcoin economy growing if we can't make quick exchanges... :/
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June 06, 2011, 10:44:51 PM
 #26

@Nicholas - yes they sent me an email and told me they were re-queuing.

@twobitcoins - they told me to contact them if I didn't see the transaction (after they resent) within 6 hours.
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June 07, 2011, 01:53:43 AM
 #27

Curious why I haven't received an email or even a PM here. I know mtgox has built upa good reputation, but this is a bit concerning....
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June 07, 2011, 05:50:47 AM
 #28

I am in California and I think MtGox is in Japan.  So it may take at least one business day to hear from them.

If you are missing a transaction for more than one business day I would send an email to info@mtgox.com with your reference number (from account history) and post on here.
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June 07, 2011, 12:12:45 PM
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I am going on almost two business days, no message, no response.   Angry At least a general update would be appreciated.
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June 07, 2011, 02:19:58 PM
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Has any received a mtgox -> Dwolla withdrawal in the past two days?  If not, Mark, can you post a message on the site saying withdrawals can take this long?
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June 07, 2011, 02:48:43 PM
 #31

All is good - got my withdrawal  Grin
MagicalTux
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June 07, 2011, 02:50:09 PM
 #32

Has any received a mtgox -> Dwolla withdrawal in the past two days?  If not, Mark, can you post a message on the site saying withdrawals can take this long?

Withdrawals are usually processed within a few hours. However we have sometimes connectivity issues with dwolla, that's why we keep all the infos behind a tracking code.
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June 07, 2011, 04:44:10 PM
 #33

I still haven't gotten an update on mine. Last email was from June 3 asking for my reference number as I mentioned before. It seems like people who emailed after me have gotten their withdrawals. What could possibly be the holdup? I almost feel like I should email again. I'm really getting tired of waiting for a withdrawal from almost 2 weeks ago, but I understand that this Dwolla feature is new to their site.
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June 07, 2011, 06:44:17 PM
 #34

Mine from Sunday still hasn't posted yet, either. I haven't gotten an email back from them, so I'm not sure what to do.
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June 07, 2011, 11:27:06 PM
 #35

I am going on almost two business days, no message, no response.   Angry At least a general update would be appreciated.

Same here. Hopefully it will process soon. I sure hope i did the withdrawl right. This is my first time!
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June 07, 2011, 11:51:44 PM
 #36

Are there any plans for MtGox to start using Dwolla's Grid API for automatic transactions?
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June 08, 2011, 02:15:42 AM
 #37

Got an email from mgtox asking for the reference number and stating they would look into this.
I sent them the reference number from my account history.


I am at the same point currently. I received a similar email on the same day as your post.

I also am at this point, but no email responses from them what-so-ever.  I did send all the vital information they need to track the issue.  My missing funds are from a transaction this last Sunday (server time ... UTC?). 

06/05/11 16:07

Transactions before and since have processed properly and landed in the same account, so I am frustrated that the middle one would disappear [also my largest transaction with them].

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June 08, 2011, 02:19:37 AM
 #38

Has any received a mtgox -> Dwolla withdrawal in the past two days?  If not, Mark, can you post a message on the site saying withdrawals can take this long?

I did yesterday morning, but my previous transaction [significantly larger] has gone into the ether.  They do not respond to my emails either.  They will eventually respond to me as I start working with various institutions as necessary [giving them 7 days from the transaction timestamp .. five business days to fix this since they do not communicate].  There are many methods of getting their attention and eventually restitution.

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June 08, 2011, 02:43:50 AM
 #39

My first mtgox -> dwolla withdrawal worked within an hour or two yesterday morning. My second last night for significantly larger still hasn't arrived after >26hours
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June 08, 2011, 02:51:52 AM
 #40

My assumption is that the Dwolla in exchanges are not sufficient to match the out exchanges.  MTGox isn't going to bring money in. What they should do is only allow out exchanges to the extent there is available dwolla (or act as some sort of intermediary).
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June 08, 2011, 02:55:20 AM
 #41

Has any received a mtgox -> Dwolla withdrawal in the past two days?  If not, Mark, can you post a message on the site saying withdrawals can take this long?

I did yesterday morning, but my previous transaction [significantly larger] has gone into the ether.  They do not respond to my emails either.  They will eventually respond to me as I start working with various institutions as necessary [giving them 7 days from the transaction timestamp .. five business days to fix this since they do not communicate].  There are many methods of getting their attention and eventually restitution.

Is this perhaps the sign of a larger problem? I have read elsewhere that Gox is understaffed. What other exchange faster?
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June 08, 2011, 03:02:03 AM
 #42

My first mtgox -> dwolla withdrawal worked within an hour or two yesterday morning. My second last night for significantly larger still hasn't arrived after >26hours

Their volume is higher lately, but not as high as it has been or above what they have handled before.  My transaction on the 5th disappeared and looking at the data available, they had a MASSIVE drop in volume compared to days before and after, ~43K for the two days before, on the 5th, the volume was ~22K and then on the 6th and 7th ~54K.  Something happened on the 5th, precisely the day that my funds have gone missing!

I eyeballed the data from Bitcoin Charts for what it is worth.  June 5th, the day of my transaction, the volume bar for Mt. Gox is red with all others green.  Clearly something went wrong that day and they have gone dark as far as communication goes.

EDIT:  I shouldn't say clearly something went wrong .. volume could have been low, but the surrounding days over a five day period suggest that something may very well have gone wrong [technically I would assume].

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June 08, 2011, 04:29:23 AM
 #43

They sent me an email a few hours ago (finally) asking for my username. I sent a reply immediately and got an automated response saying they're 36 hours backlogged on emails. This really should have been fixed by now. My guess is that a bunch of transactions got wiped out due to a server glitch on the 5th, which is why so many people's transactions from that day are missing.

I'm a little upset because I had planned on making some capital investments by now that I haven't been able to make because of this error. Factor in that BTC/USD has gone through the roof in the past 24 hours and now I'm just downright angry. No cash, no bitcoin, no answers.

I think people should stop trading on Mt. Gox temporarily until they can get staffed and get all their server stuff fixed. Obviously they weren't ready for the sudden spike in interest after all the media attention bitcoin got in the past two weeks, but it's irresponsible and a little unethical to be handling major financial transactions when you don't have the infrastructure to support it. IMHO, of course.
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June 08, 2011, 04:31:14 AM
 #44

They sent me an email a few hours ago (finally) asking for my username. I sent a reply immediately and got an automated response saying they're 36 hours backlogged on emails. This really should have been fixed by now. My guess is that a bunch of transactions got wiped out due to a server glitch on the 5th, which is why so many people's transactions from that day are missing.

I'm a little upset because I had planned on making some capital investments by now that I haven't been able to make because of this error. Factor in that BTC/USD has gone through the roof in the past 24 hours and now I'm just downright angry. No cash, no bitcoin, no answers.

I think people should stop trading on Mt. Gox temporarily until they can get staffed and get all their server stuff fixed. Obviously they weren't ready for the sudden spike in interest after all the media attention bitcoin got in the past two weeks, but it's irresponsible and a little unethical to be handling major financial transactions when you don't have the infrastructure to support it. IMHO, of course.

Glad you heard something. I still have yet to hear anything from Mt. Gox. They have 600 dollars of mine!
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June 08, 2011, 05:25:04 AM
 #45

I haven't heard anything either.  They are clearly more than 36 hours behind and of course subsequent transactions have processed.  Maybe I will just trade directly with bitcoin buyers if an explanation doesn't appear quickly on their site.  I can't say that my trust in them fulfilling a transaction is very high at the moment. 

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June 08, 2011, 05:53:21 PM
 #46

My first mtgox -> dwolla withdrawal worked within an hour or two yesterday morning. My second last night for significantly larger still hasn't arrived after >26hours


Should I be worried since I sent my first mtgox->dwolla last June 5th? I haven't seen a $ getting into Dwolla since today.


RDD RjBUYX75fvQ1yeSDJPkuB5wU35etvZ9JES
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June 08, 2011, 07:00:56 PM
 #47

I have three transfers from Mt. Gox to Dwolla over the last few days (starting 06/05/2011) and none of them have shown up either.

Unless Mt.Gox improves quickly I expect I will switch to some other mechanism.  This is very disappointing because I've been happy with Mt. Gox up until recently!
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June 08, 2011, 07:03:12 PM
 #48

My first mtgox -> dwolla withdrawal worked within an hour or two yesterday morning. My second last night for significantly larger still hasn't arrived after >26hours


Should I be worried since I sent my first mtgox->dwolla last June 5th? I haven't seen a $ getting into Dwolla since today.



I don't know if their issue had anything to do with Dwolla or not, but you should email them with all details (it seems they don't know which transactions didn't process).  I received an email this morning that they were resubmitting my transaction.  It has not arrived yet, but I suspect it will this time.

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June 08, 2011, 07:50:27 PM
 #49

My first mtgox -> dwolla withdrawal worked within an hour or two yesterday morning. My second last night for significantly larger still hasn't arrived after >26hours


Should I be worried since I sent my first mtgox->dwolla last June 5th? I haven't seen a $ getting into Dwolla since today.



I don't know if there issue had anything to do with Dwolla or not, but you should email them with all details (it seems they don't know which transactions didn't process).  I received an email this morning that they were resubmitting my transaction.  It has not arrived yet, but I suspect it will this time.


I did spoke with Dwolla and they said they got no control over these transactions from Mt. Gox. They advised me to contact Mt.Gox which I did this morning - so far no responses yet.


RDD RjBUYX75fvQ1yeSDJPkuB5wU35etvZ9JES
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June 08, 2011, 10:45:35 PM
 #50

There is an alternative with many more payout options than Mt. Gox has, including wire transfer for USD to US accounts and also Amazon! Check out tradehill.com. They are legit.
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June 08, 2011, 11:10:00 PM
 #51

There is an alternative with many more payout options than Mt. Gox has, including wire transfer for USD to US accounts and also Amazon! Check out tradehill.com. They are legit.

How can they support PayPal?  Did PayPal not catch on to them yet?  Either way, if you use that service for currency purchases, then I suggest you not use PayPal with them as you could find your funds locked in limbo in TradeHill's account when PayPal inevitably freezes the account.

EDIT:  I just looked at the site and it looks interesting.  I clicked around and it kept telling me to sign up.  But, I clicked instant sell and it offered an exchange rate of 19.88 USD for 1 BTC.  Mt. Gox exchange rate is $26.1111 at the very same moment.  Granted, the prices will be different in every exchange, but either their volume is very low [which will make trades difficult without a lot of people moving there] or they are taking one hell of a cut.

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June 08, 2011, 11:25:36 PM
 #52

I would also like to point out that if Mt. Gox succeeds on the "reprocess" attempt that they indicated in their email to me, then I am happy enough.  I would like to see them do some work on automated auditing of transactions to attempt to fix errors that may have occurred and automatically notify the user [or perhaps their admin first] when there is trouble along with what they are doing [such as attempting to process again].  I also would like to see them build into the site a method, perhaps next to any given transaction to press a "dispute", "problem resolution" or "inquire" button or link to go to a form to enter the relevant information and have it researched and with that, statuses of said research be emailed timely and on a regular basis if the issue is ongoing. Email is not usually considered an adequate communication medium to send account and transaction details as far as initial contact for problem resolution (most people will not email their credit card number or social security number for instance).

I hope Mt. Gox gets things worked out and implements the needed features for the "other side of their business" ... which is just about anything that falls off the "happy path".

I want them to succeed and I want to keep using them, but only if they are secure and highly available with a very low error rate as is expected of all financial, brokerage, commodity and exchange systems.

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June 08, 2011, 11:43:45 PM
 #53

There is an alternative with many more payout options than Mt. Gox has, including wire transfer for USD to US accounts and also Amazon! Check out tradehill.com. They are legit.

How can they support PayPal?  Did PayPal not catch on to them yet?  Either way, if you use that service for currency purchases, then I suggest you not use PayPal with them as you could find your funds locked in limbo in TradeHill's account when PayPal inevitably freezes the account.

EDIT:  I just looked at the site and it looks interesting.  I clicked around and it kept telling me to sign up.  But, I clicked instant sell and it offered an exchange rate of 19.88 USD for 1 BTC.  Mt. Gox exchange rate is $26.1111 at the very same moment.  Granted, the prices will be different in every exchange, but either their volume is very low [which will make trades difficult without a lot of people moving there] or they are taking one hell of a cut.

I think volume is low at the moment. I signed up. First Dwolla process already hit. Granted, I only sold 1 BTC as a test. I will definitely try to stick with Mt. Gox, but if their service response times, and deposit/withdraw timeframes continue to spike. I will head elsewhere.
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June 08, 2011, 11:59:08 PM
 #54

Count me in as another that had previously successful withdrawals, but has withdrawn on the 5th and still has seen nothing. It's costing me money.

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June 09, 2011, 12:03:29 AM
 #55

There is an alternative with many more payout options than Mt. Gox has, including wire transfer for USD to US accounts and also Amazon! Check out tradehill.com. They are legit.

How can they support PayPal?  Did PayPal not catch on to them yet?  Either way, if you use that service for currency purchases, then I suggest you not use PayPal with them as you could find your funds locked in limbo in TradeHill's account when PayPal inevitably freezes the account.

EDIT:  I just looked at the site and it looks interesting.  I clicked around and it kept telling me to sign up.  But, I clicked instant sell and it offered an exchange rate of 19.88 USD for 1 BTC.  Mt. Gox exchange rate is $26.1111 at the very same moment.  Granted, the prices will be different in every exchange, but either their volume is very low [which will make trades difficult without a lot of people moving there] or they are taking one hell of a cut.

I do not believe they are accepting PayPal at the moment. Would be nice to see PayPal to change their charge back policies, but i doubt that'll happen. Embarrassed
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June 09, 2011, 03:22:05 AM
 #56

I got an email back from them on my other email address asking for my username again. I'm pissed that they can't seem to hire some customer support with all those transaction fees they're raking in.
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June 09, 2011, 06:02:37 AM
 #57

withdrew on the 5th, 7th, and 8th.  All under $100.  None have posted. 
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June 09, 2011, 07:53:59 AM
 #58

Quote from: MtGox Email
Dwolla made some changes to their system and we were not told in advance, hence the delays on your withdraw. We have marked your withdraw to be retried and it should go out sometime today.

Just my update for now. Will update if anything happens.
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June 09, 2011, 01:33:33 PM
 #59

Quote from: MtGox Email
Dwolla made some changes to their system and we were not told in advance, hence the delays on your withdraw. We have marked your withdraw to be retried and it should go out sometime today.

Just my update for now. Will update if anything happens.

I am confident ... ABSOLUTELY ... that it did not arrive in your account.  Right?  Angry

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June 09, 2011, 02:38:58 PM
 #60

withdrew on the 5th, 7th, and 8th.  All under $100.  None have posted. 

I am in the same situation....

I have emailed several times, PM'd magical tux on here and they just wont contact me.
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June 09, 2011, 02:47:36 PM
 #61

Guys, they have said on /r/Mtgox that it is an o-auth issue, all the withdrawals are queued up and ready to go once that is fixed.

Unfortunately the ETA for this fix keeps shifting.

I think if not fixed in another 24 hrs, gox should temp hire some people and do them manually. It is getting a bit ridiculous and causing a loss of confidence.
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June 09, 2011, 03:21:43 PM
 #62

withdrew on the 5th, 7th, and 8th.  All under $100.  None have posted. 

I am in the same situation....

I have emailed several times, PM'd magical tux on here and they just wont contact me.

They reprocessed my transaction and of course, it didn't go through.  I am in the process of working with various parties to get this resolved.  As time progresses and if nothing has been resolved, I will be working more closely with parties beyond first party participants in an effort to recover my funds and prevent this from happening to others [who may have or or will have lost much larger sums of money than myself].  That will not be a pretty process for anybody.  

We know the worst case scenario here.  My advice at this point is to NOT use Mt. Gox for trading and go elsewhere [alternatives are appearing] and except the LLC to fold under the pressure (and the nature of an LLC makes fund recovery difficult if they somehow don't have it although the owners become responsible if actions by them are deemed illegal).  If the U.S. Government isn't already involved, it is only a matter of time.  Yes, they operate out of Japan, but they are a U.S. LLC entity.

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June 09, 2011, 03:25:21 PM
 #63

Guys, they have said on /r/Mtgox that it is an o-auth issue, all the withdrawals are queued up and ready to go once that is fixed.

Unfortunately the ETA for this fix keeps shifting.

I think if not fixed in another 24 hrs, gox should temp hire some people and do them manually. It is getting a bit ridiculous and causing a loss of confidence.

Try .. LOST CONFIDENCE.  It is not as if Dwolla has been their only problem.  People overlook it when things appear fixed, but this is a mistake.  Hold on to your coins or trade them elsewhere.  Watch, wait and see.  Mt. Gox will either reinvent itself or it will be gone soon [a relative term I suppose]; a prediction I am reasonably certain of.

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June 09, 2011, 04:07:07 PM
 #64

I'm also caught up in this.

I made a medium sized (~350 USD) withdrawal in the evening on 5 June. Approximately five hours later I made a smaller withdrawal (~150 USD) in the early hours of 6 June.

The smaller withdrawal went through just fine. The larger one is missing. I finally got a reply from mtgox last night, and they said that the withdrawal had been marked for retry. I have always been happy with mtgox service, and I expect they will resolve this issue to my satisfaction. That being said, I will not engage in any more trades there until this matter is closed.

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June 09, 2011, 04:12:55 PM
 #65

OK, step 1 in escalation:

Mt. Gox is a United States entity, incorporated in the United States in the State of Delaware as a Limited Liability Corporation.  Thus, the legal options are clearly defined in the United States.

MUTUM SIGILLUM LLC — 2915 OGLETOWN ROAD, # 1085 — NEWARK, DE 19713 — U.S.A.

You can contact them via this method as well, although I have not tried it as of yet.
http://www.mutumsigillum.com/contact.html

It appears that hackers are after the exchange's wallet.dat and has been for about a month.

http://news.ycombinator.net/item?id=2540567

Now, how about a phone number Smiley

Name:    CORPOMAX INC.
Address:    220 E DELAWARE AVENUE
City:    NEWARK    County:    NEW CASTLE
State:    DE    Postal Code:    19711
Phone:    (302)266-8200

They are NOT Mt. Gox (MUTUM SIGILLUM LLC), but they are the company that incorporated them and listed in public record.

It is up to readers how they want to use this information.  I assure you that there is more useful information to follow in good time as required.



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June 09, 2011, 04:15:13 PM
 #66

I'm also caught up in this.

I made a medium sized (~350 USD) withdrawal in the evening on 5 June. Approximately five hours later I made a smaller withdrawal (~150 USD) in the early hours of 6 June.

The smaller withdrawal went through just fine. The larger one is missing. I finally got a reply from mtgox last night, and they said that the withdrawal had been marked for retry. I have always been happy with mtgox service, and I expect they will resolve this issue to my satisfaction. That being said, I will not engage in any more trades there until this matter is closed.

There has not been a single report of resubmits going through.

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June 09, 2011, 04:57:33 PM
 #67

I'm also caught up in this.

I made a medium sized (~350 USD) withdrawal in the evening on 5 June. Approximately five hours later I made a smaller withdrawal (~150 USD) in the early hours of 6 June.

The smaller withdrawal went through just fine. The larger one is missing. I finally got a reply from mtgox last night, and they said that the withdrawal had been marked for retry. I have always been happy with mtgox service, and I expect they will resolve this issue to my satisfaction. That being said, I will not engage in any more trades there until this matter is closed.

There has not been a single report of resubmits going through.

They have told me my resubmits have gone through twice. I have seen neither, hit Dwolla. However, I did several transactions on tradehill.com yesterday evening and they have ALL him Dwolla already. I am so furious with Gox. I am taking my business elsewhere for good.
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June 09, 2011, 06:08:50 PM
 #68

Did you get a good rate for your coins with tradehill?

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June 09, 2011, 06:12:45 PM
 #69

It really is getting ridiculous,  I don't care how busy he is this is a serious issue.  He's shooting himself in the foot he makes a lot of money but now there seems to be compelling competing services.  Whether he's trustworthy or not his silence makes him look terrible.

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June 09, 2011, 06:13:33 PM
 #70

Did you get a good rate for your coins with tradehill?

Last trade I did with them:

June 8, 2011, 7:27 p.m.   Obtain: 29.5000 USD Gave: 1.0000 BTC   0.1770 USD Commission

The timing was Central Standard Time, in the USA. It was about 10 cents less than Mt. Gox. This was a test. The transaction was fast and it hit my Dwolla account within an hour.
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June 09, 2011, 06:14:49 PM
 #71

I've yet to see my withdraw hit my Dwolla account. They have sent me two emails stating that it is queued for resubmission. Getting very old very quickly. Thank god for tradehill.com. Their timing is absolutely impeccable.
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June 09, 2011, 06:20:29 PM
 #72

I've yet to see my withdraw hit my Dwolla account. They have sent me two emails stating that it is queued for resubmission. Getting very old very quickly. Thank god for tradehill.com. Their timing is absolutely impeccable.

It was probably strategic.  If you look at the archaic interface of Mt. Gox and the on and off load problems they have had, then the opportunity for somebody with the skill and know how to compete is blatantly obvious.  It was inevitable.  I suspect one or two more soon too.

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June 09, 2011, 06:29:09 PM
 #73

Now they changed from will be fixed today to will be fixed tomorrow it's good they're keeping us informed but don't post a time it will be fixed unless you're sure IMO.

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June 09, 2011, 06:56:34 PM
 #74

Now they changed from will be fixed today to will be fixed tomorrow it's good they're keeping us informed but don't post a time it will be fixed unless you're sure IMO.

I haven't looked, but it sounds as if you are saying that they finally acknowledged it on their website?  That would be a very encouraging thing as that was a major point that I brought up to them that they have a duty to inform people, not just reactively, but proactively when there is any kind of trouble like this.  It would make far more sense not to initiate a funds transfer when you know a service [or part of a service] is not working.  That would leave confidence in trading bitcoins with Mt. Gox solid.  They have already done themselves damage, but it remains to be seen how much and for how long it affects their business [how long people "remember" and steer clear]. 

I think the SEC is going to take interest in exchanges in the U.S. before long [and even the odd layering of Mt. Gox in Japan and their legal entity here in the U.S. isn't going to protect them].  Fund transfers have different oversight, but it exists none-the-less and I think the volume of money they move on a daily basis almost certainly exceeds the amount needed for such oversight to be applicable.  I don't like it in the sense that Mt. Gox has been a good thing for me and many many people in the past, but I do like it because it will help protect us [Mt. Gox and their U.S. LLC could go bankrupt after squirreling the cash funds away [into bitcoins?] and we can't do much about it.  The other downside is oversight and regulation breeds expense and corruption [either payoffs to regulators or lobbying for exemptions which is probably not an issue, or increased expenses which would certainly become an issue].

I think the person/people at Mt. Gox are probably good and well intended, but in over their heads.

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June 09, 2011, 07:01:45 PM
 #75

Yep on the left side after logging in it now says
"Announce
Dwolla withdraw delayed for technical reasons, will be fixed friday! Withdraws are not lost, just pending."

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June 09, 2011, 07:37:22 PM
 #76

Yep on the left side after logging in it now says
"Announce
Dwolla withdraw delayed for technical reasons, will be fixed friday! Withdraws are not lost, just pending."

If they would have done this on Sunday [or Monday as the case may be] and if they did this kind of thing as a matter of procedure, then they would have saved themselves the MASSIVE blowback and probably cut their email volume to a fraction of what it is currently.

They need an system on their site to submit problems, payment lapses, etc.  Frankly, if they haven't done it by now, like Slush never updates his pool software unless it crashes, I think Mt. Gox may lose it's preeminent position to competitors before too long.

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June 10, 2011, 06:18:32 AM
 #77

I am confident ... ABSOLUTELY ... that it did not arrive in your account.  Right?  Angry

Well, I did say I would update, and my update is that you are correct. But seeing as everyone else seems to be having a problem, that doesn't surprise me at this point. I'm glad I didn't get too far into exchanging yet, but the money in limbo here is still enough for me to care.
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June 10, 2011, 01:32:45 PM
 #78

Well it's late Friday night in Japan and no update here or on the reddit. sigh.

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June 10, 2011, 01:40:56 PM
 #79

Well it's late Friday night in Japan and no update here or on the reddit. sigh.

They have such a backlog and weren't even bright enough to put a notice up on their site until told too [which would have reduced their email substantially], that I don't think they can possibly process all their transactions today even if they solved their technical difficulties .. which I remain cynical about.

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June 10, 2011, 02:23:36 PM
 #80

What I'd like to see is - obviously not everyone there can be working on the issue, only the coding geeks or MT himself - start processing them manually already.

Even with a very generous 1 withdraw request completed per minute 1 person could knock out 500/day. Granted it would not fix the situation long term, but at least it would give 500 people some satisfaction and relief (and would probably comfort everyone else too - by seeing the reports from the happy 500). It's been almost a week and nothing should have higher priority than processing deposits and withdrawals.
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June 10, 2011, 02:40:55 PM
 #81

Mine just went through (finally)! I still plan on switching over to tradehill though. Their interface is superior, and it costs me less to make transactions. All other things being equal, tradehill is still superior.
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June 10, 2011, 02:41:33 PM
 #82

Rumors of money hitting Dwolla.  Anybody confirm?

I signed up for TradeHill as well, although I haven't used it yet Smiley

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June 10, 2011, 02:57:23 PM
 #83

I got emails that I received 2 of my withdrawals in Dwolla but the money isn't showing up in my balance.  Not sure if this is a Dwolla problem or mtgox?

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June 10, 2011, 02:59:45 PM
 #84

Mine just went through (finally)! I still plan on switching over to tradehill though. Their interface is superior, and it costs me less to make transactions. All other things being equal, tradehill is still superior.

I have only received on of two from Mt. Gox. I still have 600 dollars unaccounted for. Tradehill, I am on my way.
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June 10, 2011, 03:01:40 PM
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Mine just went through (finally)! I still plan on switching over to tradehill though. Their interface is superior, and it costs me less to make transactions. All other things being equal, tradehill is still superior.

I have only received on of two from Mt. Gox. I still have 600 dollars unaccounted for. Tradehill, I am on my way.

Is it showing in your balance when you log into Dwolla?  I have received the email and it even shows in my transactions but doesn't show in my balance in Dwolla?

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June 10, 2011, 03:03:10 PM
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Yea, it is showing up. Just not what i was expecting. 1/40th of what they owe me.
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June 10, 2011, 03:04:27 PM
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Damn I have to contact Dwolla then hopefully they didn't freeze my account or something?

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June 10, 2011, 03:18:18 PM
 #88

Never mind I figured it out lol.  I set up automatic withdraw and that's why it didn't show up in balance it was doing what it was supposed to and automatically withdrawing it.

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June 10, 2011, 03:37:34 PM
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One of my withdrawals went through just now (and appears in my Dwolla balance).  Still waiting on the others.
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June 10, 2011, 03:44:32 PM
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My withdrawal worked too!  So there is some movement!  Smiley
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June 10, 2011, 03:47:13 PM
 #91

DWOLLA IS DOWN... NOOOOO , anyone else experiencing this?
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June 10, 2011, 03:58:55 PM
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Horray, thanks for getting Dwolla back up MtGox guys! =)
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June 10, 2011, 03:59:03 PM
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DWOLLA IS DOWN... NOOOOO , anyone else experiencing this?

It's up for me?

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June 10, 2011, 04:03:27 PM
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very glad to hear for you guys.. mine didn't get thru (send another email per the reddit).
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June 10, 2011, 04:09:40 PM
 #95

Got all my moneyz

http://fxnet.bitlex.org/?ref=1141
1C2AUjVqnY4TMC9D7ZGQ4aPurbLrLz2q2g
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June 10, 2011, 04:53:24 PM
 #96

MT Gox -> Dwolla is back !

Received all my transfers today. I'm so happy. I will be staying at Mt. Gox. I noticed the selling rate is a bit lower in Tradehill (2$ difference the past two days).



RDD RjBUYX75fvQ1yeSDJPkuB5wU35etvZ9JES
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June 10, 2011, 05:17:00 PM
 #97

MT Gox -> Dwolla is back !

Received all my transfers today. I'm so happy. I will be staying at Mt. Gox. I noticed the selling rate is a bit lower in Tradehill (2$ difference the past two days).


I am very curious what the future holds. I suspect there will be yet another exchange relatively soon as well.  This incident with Mtgox can't help them (especially with dreadful communication options), but they have a long history of good service for the most part.  It will be interesting over the next couple of weeks or so.

Difficulty is continuing to rise due to those constantly bringing new hardware online.  It is inflating the price of the bitcoin, but eventually the price is going to correct and the exchanges are going to be very busy during the sell off.  If Mtgox hasn't corrected it's issues with performance and issue resolution (including communication beyond just sending an email), then they will collapse in my opinion.  I do NOT want that to happen, I want them to rise to the occasion.

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June 10, 2011, 05:55:12 PM
 #98

MT Gox -> Dwolla is back !

Received all my transfers today. I'm so happy. I will be staying at Mt. Gox. I noticed the selling rate is a bit lower in Tradehill (2$ difference the past two days).


I am very curious what the future holds. I suspect there will be yet another exchange relatively soon as well.  This incident with Mtgox can't help them (especially with dreadful communication options), but they have a long history of good service for the most part.  It will be interesting over the next couple of weeks or so.

Difficulty is continuing to rise due to those constantly bringing new hardware online.  It is inflating the price of the bitcoin, but eventually the price is going to correct and the exchanges are going to be very busy during the sell off.  If Mtgox hasn't corrected it's issues with performance and issue resolution (including communication beyond just sending an email), then they will collapse in my opinion.  I do NOT want that to happen, I want them to rise to the occasion.


You have a very good point there. But I'm not really that worried about the new miners since there isn't enough individuals out there, that first, have a high end GPU/s to manage to pull a lot of bitcoin points, not to mention the time and investment that they have to put in order to establish a miner. Second, how long they'll be able to tolerate the heat these GPUs are producing and the power consumption it's pulling (well of course there is a big turnaround in terms of monetary once bitcoin is produced).

I would say it's somewhat better if the difficulty rises a bit, I know, i know that it's not good for us miners. But this will definitely frustrates those individuals I so-called small miners.

The only thing that I'm worried is the rise of the exchange rate. I was looking at it last Wednesday and in a matter of I think 3 days, it went up from 8$ to 30$ selling rate. It's good yes, it's good (hell it's great!!) But we all know the outcome of that will not gonna be good.


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June 10, 2011, 06:32:57 PM
 #99

The problem with all this hardware coming online is that it makes good money during the difficulty period it was introduced and then the network corrects such that it is as if the the amount of hardware never changed [meaning it makes it more difficult].  So, it makes the smaller miners even smaller.  Meanwhile, the large miners are collecting bitcoins [especially they early adopters when they figured out GPU mining and went crazy!] and in many cases just sitting on them; maybe selling off small lots to keep up with difficulty.  This concentrates the mining into the hands of a relative few over time since everybody mining now cannot afford to keep up as it stands today.  With the coin hoarding, the bitcoin supply is low [one could say artificially low].  Once the relatively few are essentially the only miners of significance, then relative among themselves some are going to decide to start dumping their hoards [assuming they have them ... some are mining on pure credit].  When that happens there will be a large supply of coins.  The question is, will the then former small miners have just gotten out of bitcoin altogether or will they turn to trading bitcoins?  If they get out [which I expect MANY will do if this hardware growth continues], their will be a supply far exceeding the demand.  I think an indicator might be continued large difficulty increases corresponding with first spiking and then dropping volumes with fairly level pricing .... then, the big purses get anxious to be emptied. 

I am not financial analyst, although I do know enough to be dangerous and bitcoin is nothing if not dangerous as an investment tool anyway, but my instinct and my take on how people think [as I understand it], how I think and how my perception of such things has matched reality suggests, at least to me, that I am very likely correct.   The premise is that hardware keeps entering the mines, BTC/hr over time stays at 7.5/hr or more (25%+ above what it should be according to the  parameters of the bitcoin economy) and thus the concentration of mining power into the hands of the few.  Also note that as miners "give up" when they can't keep a profit worth the effort and expense invested, they will be selling entire rigs, and more importantly GPUs, mainboardss and PSUs in growing numbers on EBay and other sites thus giving good prices to the growing super minority miners. 

In short ... look for that flat level of price for awhile [perhaps a few weeks] with a spike in volume followed by low volumes.  That is my amateur assessment.

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June 10, 2011, 07:43:08 PM
 #100

Looks as if there was pent up demand to sell today [at least via Dwolla] if the steady price drop MtGox/USD is any indicator.  Volume is pretty high still and price has steadily dropped since Mt. Gox restored their transactional ability with Dwolla.

Might be a buying opportunity coming up if you are into that [don't take my word for anything when it comes to market speculation].

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June 11, 2011, 04:50:57 AM
 #101

Looks as if there was pent up demand to sell today [at least via Dwolla] if the steady price drop MtGox/USD is any indicator.  Volume is pretty high still and price has steadily dropped since Mt. Gox restored their transactional ability with Dwolla.

Might be a buying opportunity coming up if you are into that [don't take my word for anything when it comes to market speculation].


That's what they call "bubble" mate. Simple as that.

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June 11, 2011, 12:59:04 PM
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Has anyone still not received all of their withdrawls?
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June 16, 2011, 10:53:40 PM
 #103

Has anyone still not received all of their withdrawls?

I still have not received my one and only withdrawal attempt from MtGox, initiated on May 27, as I mentioned earlier in this thread. I wonder if I'll ever see it.
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June 17, 2011, 01:03:32 AM
 #104

Has anyone still not received all of their withdrawls?

I still have not received my one and only withdrawal attempt from MtGox, initiated on May 27, as I mentioned earlier in this thread. I wonder if I'll ever see it.

Have you bothered to login or communicate with them?  Yes, they messed up big.  They did however, make things right.  They do have a support tab if you login, use it <hint -- the solution>.  I would like to see more trading move to TradeHill [and even a third or forth exchange].  Balanced between them with something a bit unique about each of them perhaps.  TradeHill is a wonderful site and great people.  MtGox is honest and honorable, so if they owe you, it can easily be verified whether they paid you [Dwolla has the records and MtGox has the transaction key in your account history].  Now that the problem is fixed, complaining here isn't going to help you get your money that you say they owe you; that is up to you.

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June 17, 2011, 01:20:25 AM
 #105


Have you bothered to login or communicate with them?  Yes, they messed up big.  They did however, make things right.  They do have a support tab if you login, use it <hint -- the solution>.  I would like to see more trading move to TradeHill [and even a third or forth exchange].  Balanced between them with something a bit unique about each of them perhaps.  TradeHill is a wonderful site and great people.  MtGox is honest and honorable, so if they owe you, it can easily be verified whether they paid you [Dwolla has the records and MtGox has the transaction key in your account history].  Now that the problem is fixed, complaining here isn't going to help you get your money that you say they owe you; that is up to you.

Yep, of course I have been emailing them. The purpose of me posting here is so that my process in retrieving my money is transparent.
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June 17, 2011, 02:01:03 AM
 #106

Quote from: NicholasBell link=topic=8280.msg230004#msg230004

Yep, of course I have been emailing them. The purpose of me posting here is so that my process in retrieving my money is transparent.

I suggest that you log in and use their new support option.  I have no idea how it works, but I did communicate with somebody there and I can tell you support will most definitely be improving.  I can't say in what way, how much or even when, but the new support option is a relatively quick result considering the load they were under last week and I find that quite encouraging.

EDIT: I clearly have not been their fan boy, so the fact that I wrote this should mean something.  I  also should say that the communication that I did have indicated no specific action, just an honest intent and I believe the ability to make it happen; I am in know way "in the loop".

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June 17, 2011, 02:15:51 AM
 #107

To everybody that has emailed them; I believe all you need to send them is the transaction key for the transaction didn't close.  Repeated emails means that they spend the time looking up you information for each email so they get to it.  I think I sent four, and they were all responded too (although I don't think in the same order that I sent them) and it was clear that they pulled up the information each time including one response indicating that the funds were accepted by Dwolla and to contact them (yes, it was Dwolla for the person who thought I was being coy about not indicating the method of withdrawal that I used), but not only did I know this already, but the funds were in my bank account.  My point is too many emails out of frustration didn't and probably won't help (I was clearly guilty of that).  Hopefully the new support option they have is a good first step in the right direction.

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