Topic: MTgox : Bitcoin Exchange very good (Read 3270 times)

If more money in and less money out. And anyway madof.

No! You fool! Mt. Gox take money, write in database, you have this, he have that, people puts money and money and money in for Mt Gox. He look so money in > money gone, like madof. If more in not much out ok, no problem. If problem, make out more slow. System happens for last 2000 years, no man looks, bank profit!

troll

You fool!  Every transaction has a fee other than private transactions [or P2P bitcoin transactions].  It is a prerequisite to running a business.  0.65% is hardly unreasonable either.  You clearly don't know about Madoff or you would realize what he was doing was a ponzi scheme and that is clearly NOT what Mt. Gox is doing.  You made an absolutely illogical comparison.

The OP certainly said scam.  Personally, I don't share that belief based on the fact that they clearly do a lot of trading and transfers and they wouldn't be around if people were losing their money.  However, I think the volume has gotten so high for them that they no longer can maintain the necessary protocol to actually function as the business they clearly are running [which undoubtedly falls under some regulations].  My suggestion to them is to get on the ball or shut the site down so they don't end up in serious trouble.

You all get it not right,

Mt.Gox is big scammer, he takes money from pay in and pay to payout, seems like madof. If more money in and less money out, it works!
If he have a reserve, even worked for some history if more money out and less in. But only short history. Anyway madof. Do not know why people do business here!

I am another who has withdrawn funds from Mt. Gox and they (several hundred USD) seem to have gone into the ether.   I have made several transactions with them, some in, some out, to different accounts and account types and have never had an issue until now.  Here is what is odd.



I believe these times are UTC, since the last one was sent Sunday evening CDT and I received the email that funds were available the next day mid-morning.  The strange part is that the first and third went through quickly and the second has disappeared.  The second was the largest of the three as well; however, it isn't the largest I have ever transferred it is the largest I have ever transferred.  They also have ignored my emails.  It has been more than three days since I had them process the withdrawal, which is the maximum they expect according to the message of 1-3 days [usually less than one day for me and one time two days until the red transaction above].  What is strange is that a later withdrawal would post when the earlier has not.

I don't think they/he/it bothers to even check email or followup to make sure transactions are processing correctly [i.e. did the funds even leave the bank account of Mt. Gox or the accounts they use to transfer to various other sources like Liberty Reserve and Dwolla].  That is poor business.  There should be a phone number [at the very least] and a protocol available publicly to deal with issues and in fact, I am reasonably sure they are legally bound to do some of these things.  They are acting like a financial service and a commodities exchange [they exchange the bitcoin commodity for real money and work with banks and other financial services that are clearly required to follow similar guidelines themselves], and if they behave this way for long [meaning not communicating with customers and not verifying payments], the attention will be given to them by government agencies that will eventually be hearing the complaints and I am sure they will be shut down.  If they continue to process trades accurately, move funds properly, communicate about financial transactions [almost certainly a legal issue in most Western nations], then I don't think they will have trouble.  They clearly have transfer limits, although I believe this is largely based on the bank they use as opposed to them following the law in the country or countries that they are doing business in.

I will give them another day or two and then contact the place where my funds should have arrived and see if they misplaced it, but I HIGHLY doubt that [I am very careful ... never type account numbers or bitcoin addresses and copy and paste is always from a plain text source ... i.e. copy account number off of website and paste in a text file ... copy from text file into Mt. Gox forms and of course I double and triple check everything before hitting the button].  If the funds are still unaccounted for by the 7 day period [which would basically be Sunday evening here], then the following day, I will work on other means to get recourse (starting with trying to find alternative forms of communication to them, via many items on public record, and work from there); even if that means that unwanted attention is drawn to them that gets them shut down temporarily or for good [I am reasonably sure they are not in compliance with several laws where they are doing business].  

For me, I am covered.  Transactions all show in my bank accounts, I have receipts or statements to show the purchases I have made for this, electricity costs are easily computed.  I will declare my hobby income to the IRS on my taxes if I am still net positive at the end of the year [I may expand the hobby with the hobby revenue earned or I may not].  Hobby income is what it sounds like, but essentially (as I understand it, I am not an accountant), if you don't earn as much back as you put into your hobby, you can't write off the loss [as a business might], but revenue exceeding costs [gross profit I suppose] is hobby income.  I am not sure of all the tax issues as to limits on hobby income or other issues, but an accountant or even tax software should handle it fine.

mtgox usually responds a little slower, but they will respond eventually and will solve your problem. have some patience and your money will arrive on your account.

Err... MtGox which is making far, far more than your 33.64 USD every day decided they needed the extra income. So they risked their reputation (and far, far greater daily income) and decided to take your 33.64... 

I suggest you practice some patience, not all transfers are as quick and painless as the Bitcoin transfers you've become accustomed to.

I feel very disappointed by how quickly people yell scam.

I do hope you take the time to fix this thread when it is resolved.

Have some patience m8, and next time think before publicly accusing any business like that with such a weak basis for accusations.

Mtgox not support on email [email protected], no reply

mtgox is fine, it's Liberty Reserve that sucks.

I withdrew $2700 MTGUSD on Sunday (not even a banking day) and the money was wired to my EU bank account yesterday.

So no, they are not scammers.

another person has asked to pay, about 5 hours later had a LR in account?
and I, the required payment earlier but no LR in your account

Wait a couple more days. Dwolla is slow, maybe LR is slower.

Thank mtgox, has supported