Topic: MtGox supports Dwolla (Read 10649 times)

To everybody that has emailed them; I believe all you need to send them is the transaction key for the transaction didn't close.  Repeated emails means that they spend the time looking up you information for each email so they get to it.  I think I sent four, and they were all responded too (although I don't think in the same order that I sent them) and it was clear that they pulled up the information each time including one response indicating that the funds were accepted by Dwolla and to contact them (yes, it was Dwolla for the person who thought I was being coy about not indicating the method of withdrawal that I used), but not only did I know this already, but the funds were in my bank account.  My point is too many emails out of frustration didn't and probably won't help (I was clearly guilty of that).  Hopefully the new support option they have is a good first step in the right direction.

I suggest that you log in and use their new support option.  I have no idea how it works, but I did communicate with somebody there and I can tell you support will most definitely be improving.  I can't say in what way, how much or even when, but the new support option is a relatively quick result considering the load they were under last week and I find that quite encouraging.

EDIT: I clearly have not been their fan boy, so the fact that I wrote this should mean something.  I  also should say that the communication that I did have indicated no specific action, just an honest intent and I believe the ability to make it happen; I am in know way "in the loop".

Yep, of course I have been emailing them. The purpose of me posting here is so that my process in retrieving my money is transparent.

Have you bothered to login or communicate with them?  Yes, they messed up big.  They did however, make things right.  They do have a support tab if you login, use it .  I would like to see more trading move to TradeHill [and even a third or forth exchange].  Balanced between them with something a bit unique about each of them perhaps.  TradeHill is a wonderful site and great people.  MtGox is honest and honorable, so if they owe you, it can easily be verified whether they paid you [Dwolla has the records and MtGox has the transaction key in your account history].  Now that the problem is fixed, complaining here isn't going to help you get your money that you say they owe you; that is up to you.

I still have not received my one and only withdrawal attempt from MtGox, initiated on May 27, as I mentioned earlier in this thread. I wonder if I'll ever see it.

Has anyone still not received all of their withdrawls?

That's what they call "bubble" mate. Simple as that.

Looks as if there was pent up demand to sell today [at least via Dwolla] if the steady price drop MtGox/USD is any indicator.  Volume is pretty high still and price has steadily dropped since Mt. Gox restored their transactional ability with Dwolla.

Might be a buying opportunity coming up if you are into that [don't take my word for anything when it comes to market speculation].

The problem with all this hardware coming online is that it makes good money during the difficulty period it was introduced and then the network corrects such that it is as if the the amount of hardware never changed [meaning it makes it more difficult].  So, it makes the smaller miners even smaller.  Meanwhile, the large miners are collecting bitcoins [especially they early adopters when they figured out GPU mining and went crazy!] and in many cases just sitting on them; maybe selling off small lots to keep up with difficulty.  This concentrates the mining into the hands of a relative few over time since everybody mining now cannot afford to keep up as it stands today.  With the coin hoarding, the bitcoin supply is low [one could say artificially low].  Once the relatively few are essentially the only miners of significance, then relative among themselves some are going to decide to start dumping their hoards [assuming they have them ... some are mining on pure credit].  When that happens there will be a large supply of coins.  The question is, will the then former small miners have just gotten out of bitcoin altogether or will they turn to trading bitcoins?  If they get out [which I expect MANY will do if this hardware growth continues], their will be a supply far exceeding the demand.  I think an indicator might be continued large difficulty increases corresponding with first spiking and then dropping volumes with fairly level pricing .... then, the big purses get anxious to be emptied. 

I am not financial analyst, although I do know enough to be dangerous and bitcoin is nothing if not dangerous as an investment tool anyway, but my instinct and my take on how people think [as I understand it], how I think and how my perception of such things has matched reality suggests, at least to me, that I am very likely correct.   The premise is that hardware keeps entering the mines, BTC/hr over time stays at 7.5/hr or more (25%+ above what it should be according to the  parameters of the bitcoin economy) and thus the concentration of mining power into the hands of the few.  Also note that as miners "give up" when they can't keep a profit worth the effort and expense invested, they will be selling entire rigs, and more importantly GPUs, mainboardss and PSUs in growing numbers on EBay and other sites thus giving good prices to the growing super minority miners. 

In short ... look for that flat level of price for awhile [perhaps a few weeks] with a spike in volume followed by low volumes.  That is my amateur assessment.

You have a very good point there. But I'm not really that worried about the new miners since there isn't enough individuals out there, that first, have a high end GPU/s to manage to pull a lot of bitcoin points, not to mention the time and investment that they have to put in order to establish a miner. Second, how long they'll be able to tolerate the heat these GPUs are producing and the power consumption it's pulling (well of course there is a big turnaround in terms of monetary once bitcoin is produced).

I would say it's somewhat better if the difficulty rises a bit, I know, i know that it's not good for us miners. But this will definitely frustrates those individuals I so-called small miners.

The only thing that I'm worried is the rise of the exchange rate. I was looking at it last Wednesday and in a matter of I think 3 days, it went up from 8$ to 30$ selling rate. It's good yes, it's good (hell it's great!!) But we all know the outcome of that will not gonna be good.

I am very curious what the future holds. I suspect there will be yet another exchange relatively soon as well.  This incident with Mtgox can't help them (especially with dreadful communication options), but they have a long history of good service for the most part.  It will be interesting over the next couple of weeks or so.

Difficulty is continuing to rise due to those constantly bringing new hardware online.  It is inflating the price of the bitcoin, but eventually the price is going to correct and the exchanges are going to be very busy during the sell off.  If Mtgox hasn't corrected it's issues with performance and issue resolution (including communication beyond just sending an email), then they will collapse in my opinion.  I do NOT want that to happen, I want them to rise to the occasion.

MT Gox -> Dwolla is back !

Received all my transfers today. I'm so happy. I will be staying at Mt. Gox. I noticed the selling rate is a bit lower in Tradehill (2$ difference the past two days).

Got all my moneyz

very glad to hear for you guys.. mine didn't get thru (send another email per the reddit).

It's up for me?

Horray, thanks for getting Dwolla back up MtGox guys! =)

DWOLLA IS DOWN... NOOOOO , anyone else experiencing this?

My withdrawal worked too!  So there is some movement! 

One of my withdrawals went through just now (and appears in my Dwolla balance).  Still waiting on the others.

Never mind I figured it out lol.  I set up automatic withdraw and that's why it didn't show up in balance it was doing what it was supposed to and automatically withdrawing it.