It cracks me up that such a successful business originally sold anime trading cards. I'm glad someone brought that up before I did. So funny.
MTG is neither anime or trading cards. It's a fantasy collectible card game. trading cards are not a game.
Topic: Mt.Gox out of money (Read 1883 times)
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Don't dwell in the past, don't dream of the future
MTG is neither anime or trading cards. It's a fantasy collectible card game. trading cards are not a game.
The idea of an exchange running out of money seems a bit odd to me. The way I understand their operation they either collect fees, which means they get paid no matter what. Or they buy lower than they sell getting the value from the mark up. Either way as long as there is action on the market they make money. I doubt that there is any shortage of action on the market and a major player like them is unlikely to have cash flow problems at this point, so it is not even that likely that a run could be produced on either side of things. It does seem like it would be more of an attempt by someone to scare flighty customers away from them and on to other exchanges. I would not put too much stock into the claim. Also, on a somewhat unrelated note. Thank you for the explination about where the name came from. That was neat and I did not know that.
I was just trying to email for an update on my withdraw and I received:
Quote
Delivery to the following recipient failed permanently:
[email protected]
Technical details of permanent failure:
Google tried to deliver your message, but it was rejected by the server for the recipient domain mtgox.zendesk.com by mail.pod-1.int.zendesk.com. [184.106.12.189].
The error that the other server returned was:
550 relay not permitted
[email protected]
Technical details of permanent failure:
Google tried to deliver your message, but it was rejected by the server for the recipient domain mtgox.zendesk.com by mail.pod-1.int.zendesk.com. [184.106.12.189].
The error that the other server returned was:
550 relay not permitted
It cracks me up that such a successful business originally sold anime trading cards. I'm glad someone brought that up before I did. So funny.
The business has changed owner twice since the days of selling cards. The software has been rewritten from scratch. The brand name, and a handful of original customers from back in 2010, is all that remains.
start a new topic, this topic is "Mt.Gox out of money"
Totally didn't know that! Thanks.
It cracks me up that such a successful business originally sold anime trading cards. I'm glad someone brought that up before I did. So funny.
The business has changed owner twice since the days of selling cards. The software has been rewritten from scratch. The brand name, and a handful of original customers from back in 2010, is all that remains.
People always come up with these scare stories. Why? Because they are afraid of change.
It cracks me up that such a successful business originally sold anime trading cards. I'm glad someone brought that up before I did. So funny.
Here is how MtGox works: They make a cut off every buy/sell transaction. That's how every exchanges make money.
When you withdraw $, MtGox pays you from it's holding accounts. That $ got there either by your deposits or the sale of your BTC. MtGox doesn't pay anyone unless someone else ponies up the $ or the BTC.
When you withdraw BTC, they are yours so MtGox gives them back to you. MtGox doesn't pay anything.
Now if MtGox operating expenses outpaces their revenue, then they might have to dip into the holding accounts, but that would be a very bad way of doing business. I'm sure they make enough profit on every transaction to pay everything and then some. If they didn't, they'd just increase their cut to make more $.
When you withdraw $, MtGox pays you from it's holding accounts. That $ got there either by your deposits or the sale of your BTC. MtGox doesn't pay anyone unless someone else ponies up the $ or the BTC.
When you withdraw BTC, they are yours so MtGox gives them back to you. MtGox doesn't pay anything.
Now if MtGox operating expenses outpaces their revenue, then they might have to dip into the holding accounts, but that would be a very bad way of doing business. I'm sure they make enough profit on every transaction to pay everything and then some. If they didn't, they'd just increase their cut to make more $.
MTGox is an acronym, but it's from back when it was a Magic The Gathering store / trading site. (They've since gone all-in on bitcoins.)
MTG = Magic The Gathering.
MTGox = Magic The Gathering Online exchange.
MTG = Magic The Gathering.
MTGox = Magic The Gathering Online exchange.
Are there any alternative to Mt.Gox? (is this an acronym?)
I mean, if we are going to spread the gospel that is BTC, shouldn't there be more than one exchange?
I mean, if we are going to spread the gospel that is BTC, shouldn't there be more than one exchange?
The timing of such a statement seems odd; I would be suprised if they were out of $ at this point of growth. I wouldn't be suprised if people were trying to slander key players in the market...
There's an old saying, "It's easier to buy than to sell".
i am waiting for my money more than 14 days , SEPA
https://bitcointalksearch.org/topic/mtgox-verifyingpayout-138528
"the transaction is queued up and we are yet to get an update from our developer" ,
so 10 working days left, and my withrawal is still queued
https://bitcointalksearch.org/topic/mtgox-verifyingpayout-138528
"the transaction is queued up and we are yet to get an update from our developer" ,
so 10 working days left, and my withrawal is still queued
i was about to upload alot of money to mtgox...should I wait?
I have an account with Mt. Gox and seeing this kind of stuff makes me nervous. Has anyone successfully withdrawn money (more than $1000) from Mt. Gox recently?
Yes, I have. My last SEPA withdrawal took 3 days.
I doubt mtgox is out of money. I have often had problems with delays with them, but I always received my money eventually. My guess is that they are overwhelmed by the bureaucratic burden of running a large bitcoin exchange.
They haven't had money in their Dwolla account for atleast 13 days now. My withdraw has been "to do" since the 10th and they've said they don't have any money in their Dwolla account.
mtgox may be out of money, but i have nearly fitty dollars in paypal right now
I don't think it is possible. They probably have some difficulty balancing money after the holidays as I think a lot of people took their money out, but I guess they will handle it.
In 2012 ,they has $2M profit.
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