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Author Topic: Withdrawing bitcoins from Mt.Gox  (Read 1580 times)
alkor
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May 14, 2011, 09:43:42 PM
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I deposited a large number of bitcoins into MtGox thinking that it would be very easy to move them out, however, I just discovered that there is a daily limit of how many bitcoins you can withdraw. Now my bitcoins are stuck there, and I will have to withdraw them over a period of several days. I understand there are laws limiting how many dollars may be withdrawn daily, but why is it necessary to also limit the number of bitcoins that can be withdrawn?

Also why is the limit placed on withdrawals but not deposits? Shouldn't the user be warned before depositing their money that they may not be able to withdraw it as easily?
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gusti
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May 14, 2011, 10:01:47 PM
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I would say that restrictions are there in place to prevent fraud.
Some time ago there was an issue with 40k stolen.
Anyway, I agree with you, policy is not very clear.


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BitcoinStars.com
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May 15, 2011, 12:16:47 AM
 #3

what is the limit per day?
FooDSt4mP
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May 15, 2011, 12:24:58 AM
 #4

what is the limit per day?

$1000 worth.  If he allows more than that, extra regulations kick in for US customers.  MagicalTux (the site operator) has been known to raise limits on an individual basis for non-US customers.  His email is info@mtgox.com.  Keep in mind that he lives in Japan when you're waiting for him to respond.

As we slide down the banister of life, this is just another splinter in our ass.
alkor
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May 15, 2011, 02:30:37 AM
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$1000 worth.  If he allows more than that, extra regulations kick in for US customers.  MagicalTux (the site operator) has been known to raise limits on an individual basis for non-US customers.  His email is info@mtgox.com.  Keep in mind that he lives in Japan when you're waiting for him to respond.
As far as regulations are concerned, bitcoins are just a bunch of bits, and there should be no limit as to how many can be released daily. Right now you can't withdraw more than ~150 BTC per day, which is ridiculous.
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May 15, 2011, 03:08:27 AM
 #6

If you deposited the coins there and didn't buy them you should be able to take them all out at once. email mtgox.

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