Topic: 0.25 BTC Bounty - Show me a Mt Gox USD Withdrawal :) - page 3. (Read 48809 times)

The wire transfers I successfully received between 6/1 and 6/13 were from the Bank of New York and JP Morgan Chase.  Nothing was coming from Japan.

It's pathetic communication on Gox's part that leaves us all guessing about what's actually happening.  SNAFU.

I emailed support asking for status update around 7/15, and then replied to their support non-reply on 7/22 asking for the withdrawal to be cancelled.  YMMV (obviously).  Good luck!

If that's the case, Mt. Gox is denying it. Here are their statements:

• June 20, 2013: "Over the past weeks Mt. Gox has experienced rising volumes of deposits and withdrawals from established and upcoming markets interested in Bitcoin. This increased volume has made it difficult for our bank to process the transactions smoothly and within a timely manner, which has created unnecessary delays for our global customers."
• July 4, 2013: "Mt. Gox is happy to announce that global account withdrawals have now fully resumed as of today".

Mt. Gox's statements blame the bank in Japan they were using for outgoing transfers, and they currently claim there is no problem. Clearly, that is not the case.

How did you cancel this transfer?? I emailed support and they are ignoring me .

I just received money from MtGox! This transaction took over 3 months and it is only a small part, BUT: It seems that they are processing (again)

http://imageshack.us/photo/my-images/689/jx17.jpg/

I think I am not eligible for the bounty as it was EUR withdrawal, but just in case: 13edci3KYt2S71mjkPU4X47NkukxJNfGi9 ;-)

That's so wicked. Laughed

Back in June, when my transfer languished for 4 days "confirmed". I cancelled it, bought coins and sold them in small lots locally. Have exited MtGox until and if they ever get their act together and stop treating customers like mushrooms (in the dark, fed on sh*t).
Tried Bitstamp and like it a lot. Except, their order interface is a dinosaur like Mt.Gox's. Many thanks to Bitcoinwisdom and Clark Moody that we can see what the BTC markets are actually doing (because the exchanges sure can't tell us).

And by "insolvent", I mean that in the technical sense - I don't think Gox has immediate access to all of their deposited customer funds.  I think some if not most is locked up in frozen bank accounts.

Today, I finally gave up and cancelled my wire request made on 6/15 that had still not been processed.  I only had to take a 3% haircut moving to another exchange, which was worth it to me.

If Gox has a withdrawal queue, they aren't processing withdrawals in the order received based on EPiSKiNG successful 7/3 withdrawal. I also contacted support a week ago to get an update, and got a non-reply, so contacting support doesn't automatically move you to the front of the queue.

There have been no announcements on the topic since July 4th, when they claimed "global account withdrawals have now fully resumed as of today", which is (and was) clearly BS.  My guess is that EPiSKiNG's successful 7/3 withdrawal was one of the few that were used for testing before their 7/4 claim that all is going well, but then something happened and they stopped again.

Notme, I don't know why you'd defend Gox so strongly.  I'm used to Gox being slow, which is reasonable since it's part of the legacy banking system.  But after 5 weeks of delays and lack of transparency, I now think there's a chance that Gox is insolvent.  Their post on 7/10 saying "In the past we were able to credit customer accounts before the funds arrived in our own bank account", but now they can't, rather backs up the idea, don't you think?

May 3rd   Coinlab Suit
May 14th    Dwolla Seizure
June 20th   Temporary Hiatus on US dollar withdraws
July 4th    Resumption of withdraws
July 10th   Changes to Deposit procedures









source: bitcoincharts.com

Yes. 1o16cfoCRdYh3XaHQawd1Ls8QqxwrhNEj

-EP

My current theory is that MtGox has (some) of its funds in Japan frozen - but still has a bit of money in subsidiaries (like the Polish one that was reported to execute transfers).  They use this money sparingly - because there is not that much of it - but they do send some transfers to calm people down.

Do I owe 0.25btc to EP?

True. One that was submitted early on the day of the "freeze" might have slipped through.

It seems clear enough that, although withdrawals supposedly "resumed" on July 4th and Mt. Gox claimed they would be caught up in two weeks, that didn't happen. It has now been one month since Mt. Gox stopped processing withdrawals.

Do we need to raise the price for it? I wonder if there is a market for MtGox transfer information. They are rare. 

While it was good to see someone getting funds, that transfer request was really on the cusp of when shit hit the fan.  It would be nice to see someone who had a transfer go through that was initiated well after the freeze. 

Great Britain and Japan. 

Ya only 2 of them don't. 

"Forty-eight US states regulate money transmitters although the laws vary from one state to the other.[3] Most of the states[4] require a surety bond with widely ranging amounts from as little as $25,000 to over $1 million and maintaining a minimum capital requirement."

http://en.wikipedia.org/wiki/Money_transmitter

Licenses depend on the state.  Some states don't require a license.

-EP

registration is almost irrelevant.  They need a license

But I imagine they found new partners outside US that will pass along the wire.  I think Germany and Canada's stance on bitcoin is more supportive of innovation.

Well thats the big question.  You can register as an MSB with FinCEN but that still doesn't give you a money transmitter license for states.  You have to apply for a money transmitter license in each state.  The process almost never takes less than a year... unless they somehow became an agent of an already registered MSB/money transmitter. 

Thank you!

Sorry for bitching.   

I believe they are registered as an MSB with FinCEN.  Also, I really feel safer with my money in Gox than I do in my US bank at this time... Citibank is denying all bitcoin related activity...

-EP