Video from Roger Ver on MtGox Finances to ease the communitys misplaced fears on MtGox Insolvency - http://www.youtube.com/watch?v=UP1YsMlrfF0
Topic: 0.25 BTC Bounty - Show me a Mt Gox USD Withdrawal :) - page 9. (Read 48867 times)
Video from Roger Ver on MtGox Finances to ease the communitys misplaced fears on MtGox Insolvency - http://www.youtube.com/watch?v=UP1YsMlrfF0
+ minimum $7 million for Money Transmitter Surety Bonds
Yes, customers' funds. Not OK. Just asking.
25 millions for finCEN? Is this right? Seems bit high.
25 millions for finCEN? Is this right? Seems bit high.
To be able to operate in all 50 states, each with their own rules, requires, all-in, $2.5 million in total lawyer fees, licensing fees, compliance officers, etc. An additional $25k / mo to maintain. And 18 months from initial registration.
Source : I asked Patrick Murck, the Bitcoin Foundation General Counsel at a gathering in DC at 1776. That was his response.
Yes, customers' funds. Not OK. Just asking.
25 millions for finCEN? Is this right? Seems bit high.
25 millions for finCEN? Is this right? Seems bit high.
Do we know how much it costs to be money transmitter by finCEN standards?
How much money at Dwolla?
Maybe gox is just borrowing that x$ it needs for license.
How much money at Dwolla?
Maybe gox is just borrowing that x$ it needs for license.
From customers' funds, you imply? And that would be OK for you?
Do we know how much it costs to be money transmitter by finCEN standards?
How much money at Dwolla?
Maybe gox is just borrowing that x$ it needs for license.
How much money at Dwolla?
Maybe gox is just borrowing that x$ it needs for license.
I cancelled my withdrawal last night (after 3 weeks of waiting), got the GBP back in my account today, bought BTC and sold them on here within a matter of minutes!
Take note.
Take note.
Where'd you sell it here? I'm looking for a reputable source
I cancelled my withdrawal last night (after 3 weeks of waiting), got the GBP back in my account today, bought BTC and sold them on here within a matter of minutes!
Take note.
Take note.
I'll bump this thread and make public amend.
Please do not change.
Thank you. And please call me all kinds of nasty names if this isn't all cleared up in 1 - 1.5 months.
No need. If your money is where your mouth is, you'll end up calling yourself those nasty names.
And just in case - should Gox ever pay all pending withdrawals without scamming anyone, I'll bump this thread and make public amend.
Well, it is only a couple percent for my trading bot to play with. But I would trust any bitcoin exchange with more than a few percent. I just get tired of people freaking out when something that has been historically unreliable is.... unreliable.
Thank you. And please call me all kinds of nasty names if this isn't all cleared up in 1 - 1.5 months.
No need. If your money is where your mouth is, you'll end up calling yourself those nasty names.
And just in case - should Gox ever pay all pending withdrawals without scamming anyone, I'll bump this thread and make public amend.
Again: Put your money where your mouth is. Everything else is useless chatter.
+1
BTW, I have some funds sitting on MtGox, so my money is precisely where my mouth is.
With that being said, there aren't many explanations that fit. But even if Mt.Gox collapses, you still have rather large markets with Bitstamp, Coinbase, and Btc-e, which should be able to provide enough liquidity/volume until some US exchanges become compliant.
Put your money where your mouth is. Or is this just another useless attempt to push up the price on Gox? I'm just wondering.
The simplest explanation is that Gox is simply overstrained and can not process payments quickly enough. Honestly: Anyone with even half a brain cell can see that.
Gox is simply incapable and it can take forever to get regulated their stuff.
But Bitstamp and BTCe are still much less capable of transferring hundreds of millions of dollars back and forth. You have to be braindead to believe it. It takes many years to build such an infrastructure.
But everyone can not wait should check out and switch to Bitstamp or elsewhere. Then the price shoots up on Gox and goes down elsewhere. That's Free Market Economy. No problem.
Again: Put your money where your mouth is. Everything else is useless chatter.
They are sending withdraws, they are just backlogged. They are able to fulfill withdrawal requests, it will just take time.
And yet this very thread is about a total of 0.75 BTC unclaimed bounty vs showing a successful withdrawal.
You'd think someone would come up try and claim that money.
(sorry for condescending tone)
Right... a bounty for a withdrawal started less than 8 business days ago when MtGox said it would take several weeks to get caught on on the queue before they can deal with new requests.
(sorry for throwing reasonableness in your face)
Quoting for posterity.
Thank you. And please call me all kinds of nasty names if this isn't all cleared up in 1 - 1.5 months.
They are sending withdraws, they are just backlogged. They are able to fulfill withdrawal requests, it will just take time.
And yet this very thread is about a total of 0.75 BTC unclaimed bounty vs showing a successful withdrawal.
You'd think someone would come up try and claim that money.
(sorry for condescending tone)
Right... a bounty for a withdrawal started less than 8 business days ago when MtGox said it would take several weeks to get caught on on the queue before they can deal with new requests.
(sorry for throwing reasonableness in your face)
Quoting for posterity.
Why would Mt.Gox be able to resume USD withdraws without registering as a money transmitter in all 50 states? This won't happen for a very long time. Why are you defending Mt.Gox, the facts are brutally honest about their liquidity position.
They are sending withdraws, they are just backlogged. They are able to fulfill withdrawal requests, it will just take time.
And yet this very thread is about a total of 0.75 BTC unclaimed bounty vs showing a successful withdrawal.
You'd think someone would come up try and claim that money.
(sorry for condescending tone)
Right... a bounty for a withdrawal started less than 8 business days ago when MtGox said it would take several weeks to get caught on on the queue before they can deal with new requests.
(sorry for throwing reasonableness in your face)
What you are really looking at is a company run by people who never knew what they were doing. Mt.Gox's name is reflective of this.
It is so ironic, that the very regulations meant to protect users, have now exacerbated the situation of MtGox to the degree where users are now bound to be screwed over.
I do hope the effect on the USD/BTC is minimal or temporary, which is possible since MtGox now effectively discourages the sell off of BTC! I'm holding on to my nickers, don't ya'll panick now, things will be all right in the end.
I do hope the effect on the USD/BTC is minimal or temporary, which is possible since MtGox now effectively discourages the sell off of BTC! I'm holding on to my nickers, don't ya'll panick now, things will be all right in the end.
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