Topic: I don't get it - who is trading at MtGox and how do they withdraw cash? - page 2. (Read 2626 times)

If you are transacting that much and having such issues, why use MtGox?  When I sell bitcoins, the USD is in my account the next day (or two days if I do it late at night).

As MtGox themselves just replied, Dwolla is a problem for them because of the volume.  As for the bad luck comment, that was about the wires.  If you're doing greater than $10k, then blame the US government.

Please stop lying to our faces.  

1) "A small number".  Strange that not a single person has ever reported getting a wire of any significant value sent in say 7 days.  Anyone?  Anyone reading this thread in the last month have you had a US wire take "only" 7 days?  In this thread and the half dozen other ones on the topic there are dozens and dozens of reports of delayed wires.  AFAIK not a single person saying "hey I got lucky mine only took 4 days".  If small number means 10% one would expect that from the 90% getting ultra fast wires SOMEONE would be reporting it somewhere.

2) Bank Holiday.  That is just insulting.  When wires are taking 2-3 weeks it isn't caused by the occasional bank holiday.  Your wire times are so long that any occasional bank holiday falls into the standard deviation on your wire delivery times.

3) Random checks?  Once again unless the random % is 100% that doesn't exactly explain it.   Every single wire of significant value is delayed.  

4) This has absolutely nothing to do w/ AML because your customer support continually offers to cancel wires and withdraw funds by other faster methods (bitinstant).  If funds were held for actually AML check offering to assist your customer with evading AML reporting is a felony in both US AND Japan.

So please please stop with the lying!

These has been explained over and over, but let's do it again.

Dwolla :
We are still waiting for their reply despite having contacting them again and again. Don't compare us to Intersango please! They do not handle the same volume as we do. This will help you to understand https://bitcointalksearch.org/topic/m.997245

International Wire :
1. Yes a small number is affected, but this should be solve normally by the end of July maximum early August. Also please remember that yesterday (Monday 16) was a public holiday in Japan so our bank did not processed anything yesterday.
2. Random checks. I am not sure if you are aware but sending money to the US can be subject to random checks and delays when it reach a certain threshold (10,000 USD) in either one withdrawal or several ones that combined reach this amount. Things are that unlike other companies that can send 100,000 USD or 500,000 USD to the US, most of them send it to one and one account only, while in our case we are sending that much to thousand of people make is it, in the eyes of banks and authorities a little bit suspicious, explaining the random checks. Think of it as when a plan arrive at immigration in a country... There are random checks on your person or your luggage.  

Thanks!

I'm seriously hoping you are not trolling this thread, since issues with MtGox withdrawals are well known. I'm doing business on a regular basis, and withdrawing money 2-3 times a week, so it is a fact to me. But anyway, what are disagreeing with here - that MtGox withdrawals to Dwolla are slow, or that Intersango withdrawals to Dwolla are fast?

Let me guess you actually have never used a wire from MtGox?

My last 4 wires were 18 days, 15 days, 20 days, and 14 (and still not processed) days and those results aren't atypical.  Wires are running 2 to 3 weeks (yes weeks not days) and it has been that way for months now.  One of the wires was made the same day as a Dwolla withdrawal and the wire (which I paid $40 in fees) took 4 days longer than Dwolla.

Yes, CampBX process dwolla several times a day too. Very fast

Bad luck?

Again I experienced this firsthand: wires are not solution, they [wires from MtGox that is] are as slow as Dwolla.

Also: Dwolla is not a problem. I trade at Intersango, and their Dwolla transfers take 5-10 minutes.

Wires.  Dwolla has become a pain in the butt, and it's not MtGox's fault that they changed their TOS.

I can tell firsthand, since I have been withdrawing on a regular basis, they have been delaying worse and worse. They started delaying sometimes in early May 2012, and delays were around week long:


and:


Later on delays grew up to 2 weeks, and this is where I had to move to another exchange.

I really did like working with MtGox: they are fast (other than withdrawals), the market depth is very good, mostly problem-free, their API works very well. There was so little headache doing business.

My thought is, I do see a lot of people trading on MtGox. Most of them are probably not stupid, so they got to know some way to cash out. HOW DO THEY DO IT!!!???

Don't they support liberty reserve? Has it been delayed at all?

Lies!  Obviously the guy with half a million USD on there is just retarded.

I'm glad somebody else is wondering.

Not to be a conspiritard, but maybe they are actually telling the truth and only a few percent of withdrawals got delayed?

Despite the fact that withdrawals from MtGox are still taking weeks, I still see people actively trading on it, and there is significant amount of them. Since withdrawals are so slow, you essentially "lock" the cash once you transfer it there. So, why would anyone do it? If it is for trading purposes, they might not get the money back, so why do that? If it is to sell BTC, you might not get cash, so why do that?

I essentially came to a conclusion, that there is obviously a way to withdraw the cash from MtGox, but I'm just not aware of it. Perhaps not in USD, but in some other currency? Can someone enlighten me how is it done?