Topic: MtGox OKPay Withdrawal Delay (Read 10258 times)
hahaha and he deleted the post very fast. But how is such a mixup even possible? Did he confuse MTgox with btce?
i thought gox was dead man
I'm having the reverse problem at the moment; my deposit into Mt-Gox from Okpay seems to be stalled. Okpay sent it but it is not showing up in my Mt-Gox account yet. It has been a few hours and usually it is much faster. I suppose it is due to the problems Mt-Gox is having at the moment. I should be patient but I want get in an scoop up some coins while they are fairly low.
Well that's just plain ole crappy if true.
Had a 'error' show up as well today. Not sure what could have gone wrong.
Nothing is wrong, they do this intentionally. They take your actual deposited cash and use it as a bank float to earn interest for a couple of days. They don't have margin trading, so they can't claim that they don't have cash to cover withdrawals, when you sell a coin, someone has to have actual cash in their account to buy your coin.
The funny thing is that they are greedy over a few bucks. They earn about 1% of roughly $10 millions worth of transactions today alone, that is $100000. If they pay $300 average for their 20 employees (that number is probably high), and $4000 a day for office expenses, they would still make about $90,000 a day. That is at least $20 millions a year after paying salary and equipment costs, and is probably split between 2-3 individuals. Pretty good chunk of cash for a subpar service, yet they are greedy.
Had a 'error' show up as well today. Not sure what could have gone wrong.
oh.. looks like MtGox wasn't ready to have that that many withdrawals with OkPay... i started advertising their service with my affiliate link... maybe that's one of the reasons why their reserves got exhausted faster than they expected 
another probable reason is the btc rate difference between btc-e and mtgox... probably huge money flows go through OkPay to make profit of it.
another probable reason is the btc rate difference between btc-e and mtgox... probably huge money flows go through OkPay to make profit of it.
Danny, Apr 25 21:27 (JST):
Hello,
The funds in question have been confirmed as processed and should now appear in your account.
We apologize for any inconvenience this may have caused. If you have any further enquiries, please do not hesitate to contact Mt.Gox Support by responding to this email (should the enquiry relate to this ticket).
Thanks,
MtGox.com Team
Danny, Apr 24 21:31 (JST):
Hello,
Thank you for the email. On checking I can see that the withdrawal is still being processed due to lack of funds on our Okpay account. We have already sent more funds to it and expecting the withdrawals to be processed soon. I will keep you updated.
Thanks,
MtGox.com Team
"nandika", Apr 24 15:33 (JST):
Withdrawal shows error but my okpay account is correct & working. Also I've withdrawn lots before.
Please send my withdrawal ASAP:
2013/04/23 11:46:26 Withdraw Status: error $262.58000 $0.00290
Withdraw to account okpay
Hello,
The funds in question have been confirmed as processed and should now appear in your account.
We apologize for any inconvenience this may have caused. If you have any further enquiries, please do not hesitate to contact Mt.Gox Support by responding to this email (should the enquiry relate to this ticket).
Thanks,
MtGox.com Team
Danny, Apr 24 21:31 (JST):
Hello,
Thank you for the email. On checking I can see that the withdrawal is still being processed due to lack of funds on our Okpay account. We have already sent more funds to it and expecting the withdrawals to be processed soon. I will keep you updated.
Thanks,
MtGox.com Team
"nandika", Apr 24 15:33 (JST):
Withdrawal shows error but my okpay account is correct & working. Also I've withdrawn lots before.
Please send my withdrawal ASAP:
2013/04/23 11:46:26 Withdraw Status: error $262.58000 $0.00290
Withdraw to account okpay
Withdrawal requests ranging from $2-$20 are processed within a couple of hours and none of those requests resulted in errors.
I have exactly same experience with okpay withdrawal. I am convinced this withdraw process was specifically created to discourage withdrawals. They are working hard to loose credibility. I never experienced any errors with withdrawals, I only experienced delays. What kind of error does it show? Do you have a verified account at MtGox?
My experience with the withdrawal difficulty has solidify my belief that mtgox intentionally delay and prevent people from withdrawing funds.
Within the last 8 days, I have experienced all 6 failed withdrawal attempts with any moderate amount of money, ranging from $400 to $950. They first delay by putting the requests on a todo list overnight even though the withdrawal requests were put in before or at the start of their working day in Japan. After holding the funds overnight, the requests would go into an error status. They, of course, don't notify the clients, you have to manually check the request. You will need to open a support ticket to get them to re-initiate the withdrawal and wait for another day.
Withdrawal requests ranging from $2-$20 are processed within a couple of hours and none of those requests resulted in errors.
I have exactly same experience with okpay withdrawal. I am convinced this withdraw process was specifically created to discourage withdrawals. They are working hard to loose credibility. Within the last 8 days, I have experienced all 6 failed withdrawal attempts with any moderate amount of money, ranging from $400 to $950. They first delay by putting the requests on a todo list overnight even though the withdrawal requests were put in before or at the start of their working day in Japan. After holding the funds overnight, the requests would go into an error status. They, of course, don't notify the clients, you have to manually check the request. You will need to open a support ticket to get them to re-initiate the withdrawal and wait for another day.
Withdrawal requests ranging from $2-$20 are processed within a couple of hours and none of those requests resulted in errors.
My experience with the withdrawal difficulty has solidify my belief that mtgox intentionally delay and prevent people from withdrawing funds.
Within the last 8 days, I have experienced all 6 failed withdrawal attempts with any moderate amount of money, ranging from $400 to $950. They first delay by putting the requests on a todo list overnight even though the withdrawal requests were put in before or at the start of their working day in Japan. After holding the funds overnight, the requests would go into an error status. They, of course, don't notify the clients, you have to manually check the request. You will need to open a support ticket to get them to re-initiate the withdrawal and wait for another day.
Withdrawal requests ranging from $2-$20 are processed within a couple of hours and none of those requests resulted in errors.
Within the last 8 days, I have experienced all 6 failed withdrawal attempts with any moderate amount of money, ranging from $400 to $950. They first delay by putting the requests on a todo list overnight even though the withdrawal requests were put in before or at the start of their working day in Japan. After holding the funds overnight, the requests would go into an error status. They, of course, don't notify the clients, you have to manually check the request. You will need to open a support ticket to get them to re-initiate the withdrawal and wait for another day.
Withdrawal requests ranging from $2-$20 are processed within a couple of hours and none of those requests resulted in errors.
Quote
Sorry for the delay.Unfortunately, we do not have an ETA for the OKPay withdrawals at the moment. We apologize for any inconvenience caused. We will continue to check the status of these transferes and notify you as soon as they are processed.
Thanks,
MtGox.com Team
Thanks,
MtGox.com Team
April 23, 2013 13:15
Oh, wow.. How large was a withdrawal (if not a secret)? Or maybe the size doesn't matter, but amount of withdrawals does (and they don't have enough staff to handle it)?
Quote
Sorry for the delay.Unfortunately, we do not have an ETA for the OKPay withdrawals at the moment. We apologize for any inconvenience caused. We will continue to check the status of these transferes and notify you as soon as they are processed.
Thanks,
MtGox.com Team
Thanks,
MtGox.com Team
April 23, 2013 13:15
2 days already, withdrawal is in 'todo' state
You can buy your coins at btc-e, they are cheaper there. Deposits from okpay to btc-e are instant.
I'm having the reverse problem at the moment; my deposit into Mt-Gox from Okpay seems to be stalled. Okpay sent it but it is not showing up in my Mt-Gox account yet. It has been a few hours and usually it is much faster. I suppose it is due to the problems Mt-Gox is having at the moment. I should be patient but I want get in an scoop up some coins while they are fairly low.
Surprisingly withdrawals from MtGox work. It took less than an hour to withdraw from MtGox to OKPay.
Ok, received couple withdrawals from MtGox to OKPay. It seems like they process all the withdrawals simultaneously. And at the same time bitcoin price dropped. Are these events related to each other? Maybe that's the reason of recent sudden bitcoin price drop (since it enables arbitraging for profit and gives incentive to sell btc at mtgox)?
My withdraw has been sitting with Status: todo for over 30hrs now and its Tuesday 
heard they ran out of funds and topping up which should take by Friday??? hope that's not the case cause a week to withdraw is unacceptable
heard they ran out of funds and topping up which should take by Friday??? hope that's not the case cause a week to withdraw is unacceptableSame here. Who ran out of funds: OKPay or MtGox? Where did you hear that? But both of them earn from money moving back and forth, probably it is their interest to speed up this process.
My withdraw has been sitting with Status: todo for over 30hrs now and its Tuesday heard they ran out of funds and topping up which should take by Friday??? hope that's not the case cause a week to withdraw is unacceptable
heard they ran out of funds and topping up which should take by Friday??? hope that's not the case cause a week to withdraw is unacceptable Jump to: