The governments have strong problems with bitcoin, and ask to banks to do obstructionism.
Now Mitgox have serious problems whit accaunt bank.
Topic: Mt GOX Insolvent? (Read 2778 times)
Nobody has gotten USD except for the "emergency wires" which cost 5% extra since mid june.
gox is consistently losing market share
That's not a bad happening over the bitcoin economy.
Too much power (concentration of market share) turns to manipulation of BTC price.
That issue (manipulation) is IMHO a big problem and vulnerability.
Satoshi never wanted a centralized exchange (MtGOX) as it goes against the basic ideology behind the creation of BTC.
btw it does not take 2 months to do a wire transfer......if indeed you have the money to transfer.
i got my money out. just bought coins, withdrew the btc and sold on another exchange. anyone who wants there funds bad enough can do it. theres no excuse.
the excuse is by buying coins on gox you are paying anywhere from 10 -15 bucks more per coin than other exchanges. this has been 2 months . do you have any idea what has happened to the price of bitcoins in the last 2 months? If Mt.Gox is to continue operations, some corrections needs to be done. Crypto currency experts are of the opinion that if every BTC exchange bases its operations on GOLD STANDARD, every BTC exchange will have HACKER-PROOF functioning.Pls go to www.milligold.org
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Deposits and Withdrawal Update
Finally, the issues with deposits and withdrawals from Mt. Gox are being relieved, but still not at the rate we want.
For example it currently takes up to 10 days to process a deposit because our bank, upon receiving deposits, notifies us of the deposit but holds them for 7~10 days before transferring them to our account. This has always been the case, and we were still crediting customer accounts before receiving the funds ourselves, but some cases in which the bank subsequently rejected the deposits meant that we incurred significant losses. The risk is now too high for us to credit accounts prematurely.
We are in the process of forming relationships with new partners, banks, and taking other steps -- hopefully we will not only be back where we were before we encountered these issues , but much further ahead.
Finally, the issues with deposits and withdrawals from Mt. Gox are being relieved, but still not at the rate we want.
For example it currently takes up to 10 days to process a deposit because our bank, upon receiving deposits, notifies us of the deposit but holds them for 7~10 days before transferring them to our account. This has always been the case, and we were still crediting customer accounts before receiving the funds ourselves, but some cases in which the bank subsequently rejected the deposits meant that we incurred significant losses. The risk is now too high for us to credit accounts prematurely.
We are in the process of forming relationships with new partners, banks, and taking other steps -- hopefully we will not only be back where we were before we encountered these issues , but much further ahead.
Has anyone on here got USD out of MtGox?
I believe they're still solving some problems with bank but their silence is disturbing.
i got my money out. just bought coins, withdrew the btc and sold on another exchange. anyone who wants there funds bad enough can do it. theres no excuse.
i did like this too.
That's how I get cash from BTC-E…even if you should sell BTC for PayPal dollars than it's still better than all the fees and stuff.
i got my money out. just bought coins, withdrew the btc and sold on another exchange. anyone who wants there funds bad enough can do it. theres no excuse.
gox is consistently losing market share
That's not a bad happening over the bitcoin economy.
Too much power (concentration of market share) turns to manipulation of BTC price.
That issue (manipulation) is IMHO a big problem and vulnerability.
yes, i remember first times that mtgox was hacked... all people in panic sell... and BTC price went down... and down...
appreciate the responses but the problem is many people have a lot of money in gox and can't get it out.
gox is consistently losing market share
That's not a bad happening over the bitcoin economy.
Too much power (concentration of market share) turns to manipulation of BTC price.
That issue (manipulation) is IMHO a big problem and vulnerability.
yes, i remember first times that mtgox was hacked... all people in panic sell... and BTC price went down... and down...
gox is consistently losing market share
That's not a bad happening over the bitcoin economy.
Too much power (concentration of market share) turns to manipulation of BTC price.
That issue (manipulation) is IMHO a big problem and vulnerability.
Good. They're hopelessly incompetent.
gox is consistently losing market share
it has been 2 months since i tried to exchange 2 btc for cash.
not one word from gox
not one word from gox
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