Topic: 0.25 BTC Bounty - Show me a Mt Gox USD Withdrawal :) - page 8. (Read 48867 times)

And what gives you reason to think that?

Anyone made a deposit recently to them? What currency arrived safely?

I think the problem is more with the bank services API, that would explain Mt.Gox not automating wires. IMO the bank changed the API or something and Mt.Gox hasn't adapted.

Mt.Gox uses Mizuho Bank, one of the biggest banks in the world. MtGox represents an absolutely tiny fraction of the total volume that bank processes.  So we are supposed to beleive that a major bank can't process MtGox withdraws after volume dropped signficantly but deposits are no problem?  Sounds like a stall tactic to refresh deposits.  

Another more ominous conspiracy that I saw on reddit.....

"There is definitely an incentive for MtGox to act like this; withholding fiat withdrawals to pup up the price, and then start buying coins on other exchanges while selling them on their own with 5+% profit. After a month or two, they can just re-start processing of the withdrawals, saying 'sorry' like nothing ever happened, though being so much richer at that point already. And who is going to prove them any wrongdoing? It would also explains a high volume, despite of the fact that they have not been an actual exchange, for far over a month already, but only a service that sells bitcoins, at a price 5-10% higher from the market."

I cannot withdraw PLNs neither.

You call this "focus"

I have the impression the background is blurred intentionally..One can't  be certain if its filmed from Gox headquarters or this guy's workplace.
And where is Karpeles? No word from him on this issues for more than 10 days!

They actually did stop SEPA withdrawn, since that noone has received one in the last 2 weeks at least...

Or they only stopped the USD withdrawals because they know people would say that there's a bank problem because they didn't stop EUR withdrawals, and you're fooled by Mt.Gox

tinfoil hat: on

Than they would stop processing withdrawals for all currencies and not just USD.

I love this forum sometimes.

Just my two cents....

If Gox was/is going through a liquidity crisis, it would indeed not pay out withdrawals in fiat. They would do much of what appears to be happening now, delaying the payments until they have collected enough revenue to be solvent, while still accepting deposits and allowing BTC withdrawals as if nothing was wrong. A kind of temporary pyramid scheme, just to give them time to pay back the money they "borrowed" to cover short-term cashflow issues.

However, if this was the case, two things contradict logic:
1) They would release SOME withdrawals to provide some confidence to the public and not have the community in an uproar as it would back up their claim of a huge backlog slowly churning through. They wouldn't stop every single USD withdrawal if they wanted to be deceptive, as that is easily visible to the public.

2) They wouldn't simply stop withdrawals in USD ONLY. They would stop withdrawals of all currencies, and not discriminate. And as I said above, they would continue to pay out SOME withdrawals so that they can back up their claim of a huge backlog slowly churning through.

Therefore, it is my conclusion that the likelihood of them lying about the reasons behind the USD withdrawals to hide the fact that they are having a liquidity crisis is low. The likelihood of their story of having issues with banks processing their requests in USD being true is likely.

What the holy fuck. Is that meant to be a parody?

Yes, this bounty was created for withdrawals initiated after 7/4/2013, but don't you find it a little odd that there are no reports to be found anywhere for any kind of success in receiving USD for any kind of withdrawal requests?

I am quite sure that some happy customer that got their very old USD withdrawal finally coming through would show up also on this thread. Or in some other thread. Anywhere.

I cannot think of any other explanation for this lack of any kinds of success except that they are not really processing the queue at all.

If you listen carefully to what Roger Ver is saying on the video and especially what he is NOT saying , even he is not telling us of any kind of achieved progress in processing the withdrawals at all.

He is reading some text speaking in first person.

I'm more scared than ever.

I wonder if we could complain to FinCEN - when they are registered with them.

"CoinLab is the world's first US Venture-backed Bitcoin Company; it was funded in April 2012 by a group of progressive investors, including Tim Draper, Roger Ver, and Geoff Entress."

https://mtgox.com/press_release_20130228.html

 

Exactly, and could we have some numbers to back it up?

They said that around $1mil went out during the haitus, that's nothing, i'm sure there are single customers with far great than $1mil in waiting.

Also how come no warning at all? Every business gets a warning at least a few days before their bank accounts are completely frozen. I'm sure this was the case here as well.

So he repeats the old story that the problem is the amount of transfers - but we have seen that for last month there were 0 transfers executed from MtGox - how that fits the story?

i dont deal with Mt Gox USD anymore.