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Author Topic: I'm terrified, I lost all my savings in mtgox.  (Read 4572 times)
Panda Mouse
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June 12, 2012, 10:18:40 AM
 #21

Did you wire through a bank?  Maybe you can check with the bank to see if the wire was delivered to the destination account?

Yes, I wire through a bank.

This is the answer from Mt.Gox Support dated today:

Hello ....,

Our apologies for the delay in response due to the weekend.
We have not sent out the transfer yet and will let you know once we are send it out.
This is expected to be next week.
Thank you for your patience in the process.

Thanks,
MtGox.com Team


I really hope it's true, anyone can have problems, but you should always be honest.

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I hope this will end in a happy ending.

Me too, thank you very much, I'll be inform immediately.

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June 12, 2012, 02:27:17 PM
 #22

Did you wire through a bank?  Maybe you can check with the bank to see if the wire was delivered to the destination account?

Yes, I wire through a bank.

This is the answer from Mt.Gox Support dated today:

Hello ....,

Our apologies for the delay in response due to the weekend.
We have not sent out the transfer yet and will let you know once we are send it out.
This is expected to be next week.
Thank you for your patience in the process.

Thanks,
MtGox.com Team


I really hope it's true, anyone can have problems, but you should always be honest.

Panda Mouse





I hope this will end in a happy ending.

Me too, thank you very much, I'll be inform immediately.

Panda Mouse.

Good luck Panda Mouse ..
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June 12, 2012, 09:13:47 PM
 #23

sub, seems shoddy tardiness by gox, hope that they send it soon for you.

edit 14th June, btw they've received $6,000 from me via Dwolla over the last couple of days so that's at least 2/3rds of it, maybe with all the buying going on over the last week they had to hand over a lot of client dollars that they may have been sitting on, perhaps they got so used to the stagnant market & low moves for months that they put a lot of it on term deposit for higher rates, like locked in for 7 days or a month or more rather than keeping it on overnight call in their coffers, just speculating...

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June 14, 2012, 02:11:17 PM
 #24

June 1 made a withdraw (international wire transfer) amount to nearly $ 9000.
So far, not received this amount at all, nor any response from mtgox on my query.

I am a teacher, I invested all my legal savings + a small% mined BTC on mtgox exchange.
Why I have no information when I get my last transfer?
Is it so hard to at least answer the simple question?

I do not know what to do. Mtgox not respond to my letters.

Panda Mouse.

Didn't anyone ever teach you not to place all your eggs in one basket??
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June 15, 2012, 05:15:31 AM
 #25

June 1 made a withdraw (international wire transfer) amount to nearly $ 9000.
So far, not received this amount at all, nor any response from mtgox on my query.

I am a teacher, I invested all my legal savings + a small% mined BTC on mtgox exchange.
Why I have no information when I get my last transfer?
Is it so hard to at least answer the simple question?

I do not know what to do. Mtgox not respond to my letters.

Panda Mouse.

Didn't anyone ever teach you not to place all your eggs in one basket??

even my measly $340 can't be paid by mtgox, so i think your fucked.

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June 15, 2012, 05:17:16 AM
 #26

June 1 made a withdraw (international wire transfer) amount to nearly $ 9000.
So far, not received this amount at all, nor any response from mtgox on my query.

I am a teacher, I invested all my legal savings + a small% mined BTC on mtgox exchange.
Why I have no information when I get my last transfer?
Is it so hard to at least answer the simple question?

I do not know what to do. Mtgox not respond to my letters.

Panda Mouse.

Didn't anyone ever teach you not to place all your eggs in one basket??

even my measly $340 can't be paid by mtgox, so i think your fucked.

They got a cheap 8.5 grams of cocaine with that money, you aren't getting it back.

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June 15, 2012, 05:45:13 AM
 #27

June 1 made a withdraw (international wire transfer) amount to nearly $ 9000.
So far, not received this amount at all, nor any response from mtgox on my query.

I am a teacher, I invested all my legal savings + a small% mined BTC on mtgox exchange.
Why I have no information when I get my last transfer?
Is it so hard to at least answer the simple question?

I do not know what to do. Mtgox not respond to my letters.

Panda Mouse.

Didn't anyone ever teach you not to place all your eggs in one basket??

even my measly $340 can't be paid by mtgox, so i think your fucked.

They got a cheap 8.5 grams of cocaine with that money, you aren't getting it back.

Ignore these idiots.  C'mon guys, there's no need to keep him from sleeping at night.

Dwolla is a PITA and has screwed over MtGox again.  You'll get your funds eventually, but they are really backed up.

https://www.bitcoin.org/bitcoin.pdf
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June 15, 2012, 05:48:18 AM
 #28

June 1 made a withdraw (international wire transfer) amount to nearly $ 9000.
So far, not received this amount at all, nor any response from mtgox on my query.

I am a teacher, I invested all my legal savings + a small% mined BTC on mtgox exchange.
Why I have no information when I get my last transfer?
Is it so hard to at least answer the simple question?

I do not know what to do. Mtgox not respond to my letters.

Panda Mouse.

Didn't anyone ever teach you not to place all your eggs in one basket??

even my measly $340 can't be paid by mtgox, so i think your fucked.

They got a cheap 8.5 grams of cocaine with that money, you aren't getting it back.

Ignore these idiots.  C'mon guys, there's no need to keep him from sleeping at night.

Dwolla is a PITA and has screwed over MtGox again.  You'll get your funds eventually, but they are really backed up.

Yes, you will get your funds it is just a matter of time, WE ARE WORKING ON IT!

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June 15, 2012, 05:37:19 PM
 #29

Good luck... I am still missing $10,000 and it's coming up on a month now.  There's very strong evidence that MTGox does not have much in the way of USD and those with large withdrawals deposits are actually funding the smaller withdrawals.. the large withdrawers are going to end up shafted.



FTFY
that sounds pretty ponzi-like..

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June 15, 2012, 05:38:42 PM
 #30

Good luck... I am still missing $10,000 and it's coming up on a month now.  There's very strong evidence that MTGox does not have much in the way of USD and those with large withdrawals deposits are actually funding the smaller withdrawals.. the large withdrawers are going to end up shafted.



FTFY
that sounds pretty ponzi-like..

If true, yes.  However nobody has any real evidence, it's all just hearsay.

https://www.bitcoin.org/bitcoin.pdf
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June 15, 2012, 07:42:03 PM
 #31

Yes, you will get your funds it is just a matter of time, WE ARE WORKING ON IT!

 Smiley

Thank you for your response and keep my fingers crossed for you - mtgox.

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June 15, 2012, 07:54:51 PM
 #32

Yes, you will get your funds it is just a matter of time, WE ARE WORKING ON IT!

 Smiley

Thank you for your response and keep my fingers crossed for you - mtgox.

Panda Mouse.

Lol, capitals plus exclamation mark, I think you are going to be fine. Now if they had used 4 or more exlaimers it would be a lock.


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June 17, 2012, 09:52:17 PM
 #33

June 1 made a withdraw (international wire transfer) amount to nearly $ 9000.
So far, not received this amount at all, nor any response from mtgox on my query.

I am a teacher, I invested all my legal savings + a small% mined BTC on mtgox exchange.
Why I have no information when I get my last transfer?
Is it so hard to at least answer the simple question?

I do not know what to do. Mtgox not respond to my letters.

Panda Mouse.

Didn't anyone ever teach you not to place all your eggs in one basket??

even my measly $340 can't be paid by mtgox, so i think your fucked.

They got a cheap 8.5 grams of cocaine with that money, you aren't getting it back.

Ignore these idiots.  C'mon guys, there's no need to keep him from sleeping at night.

Dwolla is a PITA and has screwed over MtGox again.  You'll get your funds eventually, but they are really backed up.

Yes, you will get your funds it is just a matter of time, WE ARE WORKING ON IT!

By working on it, that means keeping the ponzi scheme going?
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June 18, 2012, 02:28:38 AM
 #34

Good luck... I am still missing $10,000 and it's coming up on a month now.  There's very strong evidence that MTGox does not have much in the way of USD and those with large withdrawals deposits are actually funding the smaller withdrawals.. the large withdrawers are going to end up shafted.



FTFY
that sounds pretty ponzi-like..

If true, yes.  However nobody has any real evidence, it's all just hearsay.

Here's my logic:

What reveals a lot, is that wire transfers are lagging same as DWOLLA. If DWOLLA was the problem, but nothing else was, and the funds we gave to MtGox were [safely] stored in the bank, the wire withdrawals would be very fast. But since the wires are lagging, it is not unreasonable to say that there is a FRN shortage.

Under which circumstances could the FRN shortage occur? Exchanges are supposed to accept currency from actor A and bitcoin from actor B and match them up with each other, and take % from a trade. Not spend deposits, keep them as-is, even when at times it seems a good idea to use them, because they DO NOT BELONG TO EXCHANGE, exchange is holding on to them for their own safety and that is the only reason and purpose. If that was the way exchanges worked, there would be no circumstance under which either bitcoin or FRN shortage would possibly happen.

Then, how could FRN shortage occur? a) if funds were embezzled in some speculation. Or, b) if some sizable amount of FRNs was sized/frozen.

If there was a seizure, I would see no reason why exchange would not publicly say so. It's not their fault - bank or government took the money. Personally I would be screaming about it on every corner. Do we hear that? I don't. And the reason why is likely because it never happened.

That's my chain of thoughts on the situation, take it or leave it.

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June 18, 2012, 02:39:54 AM
 #35

Just have to mention that yesterday I received Dwolla funds from Mt. Gox. It took about 9 days but I have never not had my money show up.
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June 18, 2012, 03:13:01 AM
 #36

Just have to mention that yesterday I received Dwolla funds from Mt. Gox. It took about 9 days but I have never not had my money show up.

Same here, but it's important to understand, it proves nothing. And it was 6 days a few days ago. And it was immediate a few months ago.

Seriously, I do root for MtGox. They are the great guys. They did for bitcoin a lot, much more than most of us know, they are one of the reasons bitcoin became what it is right now. But the signs are not good. I moved significant amount with them over last year, even at the time of crises, but with what's happening, I am wary to deal with them now.

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June 18, 2012, 03:18:49 AM
 #37

Good luck... I am still missing $10,000 and it's coming up on a month now.  There's very strong evidence that MTGox does not have much in the way of USD and those with large withdrawals deposits are actually funding the smaller withdrawals.. the large withdrawers are going to end up shafted.



FTFY
that sounds pretty ponzi-like..

If true, yes.  However nobody has any real evidence, it's all just hearsay.

Here's my logic:

What reveals a lot, is that wire transfers are lagging same as DWOLLA. If DWOLLA was the problem, but nothing else was, and the funds we gave to MtGox were [safely] stored in the bank, the wire withdrawals would be very fast. But since the wires are lagging, it is not unreasonable to say that there is a FRN shortage.

Under which circumstances could the FRN shortage occur? Exchanges are supposed to accept currency from actor A and bitcoin from actor B and match them up with each other, and take % from a trade. Not spend deposits, keep them as-is, even when at times it seems a good idea to use them, because they DO NOT BELONG TO EXCHANGE, exchange is holding on to them for their own safety and that is the only reason and purpose. If that was the way exchanges worked, there would be no circumstance under which either bitcoin or FRN shortage would possibly happen.

Then, how could FRN shortage occur? a) if funds were embezzled in some speculation. Or, b) if some sizable amount of FRNs was sized/frozen.

If there was a seizure, I would see no reason why exchange would not publicly say so. It's not their fault - bank or government took the money. Personally I would be screaming about it on every corner. Do we hear that? I don't. And the reason why is likely because it never happened.

That's my chain of thoughts on the situation, take it or leave it.

Agree completely. I would never advise anyone to sell their btc on mtgox at this point in the game. I have never even tried to withdraw usd from mtgox, I have only bought btc. But just by reading the various threads about this issue on this forum, it really blows my mind that people are still returning to this exchange site to withdraw.
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June 18, 2012, 05:43:13 AM
 #38

Here's my logic:

What reveals a lot, is that wire transfers are lagging same as DWOLLA. If DWOLLA was the problem, but nothing else was, and the funds we gave to MtGox were [safely] stored in the bank, the wire withdrawals would be very fast. But since the wires are lagging, it is not unreasonable to say that there is a FRN shortage.

Under which circumstances could the FRN shortage occur? Exchanges are supposed to accept currency from actor A and bitcoin from actor B and match them up with each other, and take % from a trade. Not spend deposits, keep them as-is, even when at times it seems a good idea to use them, because they DO NOT BELONG TO EXCHANGE, exchange is holding on to them for their own safety and that is the only reason and purpose. If that was the way exchanges worked, there would be no circumstance under which either bitcoin or FRN shortage would possibly happen.

Then, how could FRN shortage occur? a) if funds were embezzled in some speculation. Or, b) if some sizable amount of FRNs was sized/frozen.

If there was a seizure, I would see no reason why exchange would not publicly say so. It's not their fault - bank or government took the money. Personally I would be screaming about it on every corner. Do we hear that? I don't. And the reason why is likely because it never happened.

That's my chain of thoughts on the situation, take it or leave it.

They got caught with their pants on the ground...
It was obvious, though they have tried to hide it now, they were paying only the withdraws that matched the income. The only reason to do this is so they could speculate in their own market with the pooled funds to managing the price or for profit. A few large withdraws are making this speculation, closer to fact.

If they are in fact operating that way, it isn't sustainable when income drops. The shortage becomes apparent when large withdraws appear. What's worse is they can't move Bitcoins they bought if it means selling them for a loss. This effectively locks those coins with a negative value, only giving them access to the break even and positive inventory. The more large withdraws that come in will subdue them until they get choked out.

Right now for Mt. Gox the best strategy is to ignore detractors, respond only to valid claims and focus on righting the listing ship.

For Bitcoin to be a true global currency the value of BTC needs always to rise.
If BTC became the global currency & money supply = 100 Trillion then ⊅1.00 BTC = $4,761,904.76.
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June 18, 2012, 06:59:23 AM
 #39

Why dont you use intersango?

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June 18, 2012, 07:05:44 AM
 #40

Why dont you use intersango?
That's offtopic.

For Bitcoin to be a true global currency the value of BTC needs always to rise.
If BTC became the global currency & money supply = 100 Trillion then ⊅1.00 BTC = $4,761,904.76.
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