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Author Topic: MtGox supports Dwolla  (Read 9709 times)
eodchop
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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.
eodchop
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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.


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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.


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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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Veldy
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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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eodchop
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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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eodchop
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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
Mike Moceri
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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. 
NicholasBell
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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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Veldy
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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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