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Topic: MtGox USD withdrawals and deposits will soon be processed! (Read 4833 times)

full member
Activity: 210
Merit: 100
If and when withdrawls start being processed again, I expect that arbitrage would slowly come back online, narrowing the present gap between Mt. Gox and other exchanges from its current ~8% to something more like 3-4% (perhaps less, depending on the number of people with Trusted verification on Gox). I expect that this won't cause too much drift in the price aside from reconciling the exchanges, since any money that wanted to leave the system probably either has done so or hasn't been spent on anything but "get in the withdrawl queue" any time recently, and deposits have presumably been going to other (cheaper) exchanges.


yea sure thing gap goes slowly back to 0

I am also waiting for a usd withdrawal and am worried a lot about my money :/ ... but if I get my money to my bank account will sell another Btc while there is gap to earn as much as possible Smiley

If i receive money will let you inform ...
Did you ever get your money?  It been 6 weeks now..
newbie
Activity: 28
Merit: 0
If and when withdrawls start being processed again, I expect that arbitrage would slowly come back online, narrowing the present gap between Mt. Gox and other exchanges from its current ~8% to something more like 3-4% (perhaps less, depending on the number of people with Trusted verification on Gox). I expect that this won't cause too much drift in the price aside from reconciling the exchanges, since any money that wanted to leave the system probably either has done so or hasn't been spent on anything but "get in the withdrawl queue" any time recently, and deposits have presumably been going to other (cheaper) exchanges.


yea sure thing gap goes slowly back to 0

I am also waiting for a usd withdrawal and am worried a lot about my money :/ ... but if I get my money to my bank account will sell another Btc while there is gap to earn as much as possible Smiley

If i receive money will let you inform ...
newbie
Activity: 28
Merit: 0

LOL

can you imagine the rate of inflation, i can't

this thing is beyond retarded...

how can bitcoin fail when this is the alternative?


I dont think its retarded, its just marketing strategy ... if they are success they will stop this 200 % bonus soon ...

and if they grow big enough, lets say to similar position as bitcoin is - market cap - 11 Milions bitcoin x 90 usd ... its plenty of usd, they wont care they gave away 10 000, 50 000, 500 000 usd at the beggining in their advertisement campaign.

Bitcoin also started as a silly project with a silly "mining" ... you could buy 1 Btc for 0.1 Usd ... and few lucky and "retarded" ones did ... and right now they have 900x more for their investment Smiley
legendary
Activity: 960
Merit: 1028
Spurn wild goose chases. Seek that which endures.
MtGox withdrawals have supposedly been actively processed for a month now...
Supposedly is the active ingredient here.
legendary
Activity: 1904
Merit: 1037
Trusted Bitcoiner
MtGox withdrawals have supposedly been actively processed for a month now...


legendary
Activity: 1666
Merit: 1057
Marketing manager - GO MP

Imagine if bitstamp stopped withdrawals too -- we'd all be rich!

That made me LOL
legendary
Activity: 1137
Merit: 1001

Imagine if bitstamp stopped withdrawals too -- we'd all be rich!
legendary
Activity: 1904
Merit: 1037
Trusted Bitcoiner
incase anyone missed it, i will leave this here...

Quote from: MtGox link=https://www.mtgox.com/press_release_20130805.html
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.

What garbage.  No bank on this earth worth their salt holds onto a WIRE transfer for 7 to 10 days.  And weren't they opening accounts with multiple banks?  Why is it singular now, "our bank?" 

maybe the bank has flag incoming wires to mt gox as high risk so thats why they hold it for a week
hero member
Activity: 672
Merit: 500
incase anyone missed it, i will leave this here...

Quote from: MtGox link=https://www.mtgox.com/press_release_20130805.html
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.

What garbage.  No bank on this earth worth their salt holds onto a WIRE transfer for 7 to 10 days.  And weren't they opening accounts with multiple banks?  Why is it singular now, "our bank?" 
member
Activity: 84
Merit: 10
A friend of mine was waiting about a month for a <20K USD withdrawal from Gox. They finally just cancelled the withdrawal upon request and he bought back his BTC (at a slight loss) and I clued him in on another "instant" way to cash out. I suspect this has happened to others recently, given the price rise. Plus, some people are still holding bitcoin until withdrawals are caught up. I think they would rather have BTC in their wallet than MtGox USD at the moment, given their problems. So when MtGox USD is easily turned into fiat again, then the price will drop, to at least the 70-80 dollar range.

I mean why would it go UP? The price is currently high because there is no reason to sell, its not like you actually get fiat when you sell.

This is what I think also -that the price has been kept artificially high for this reason. We'll see if that's the case if Mt. Gox's problems are resolved.
full member
Activity: 238
Merit: 100
A friend of mine was waiting about a month for a <20K USD withdrawal from Gox. They finally just cancelled the withdrawal upon request and he bought back his BTC (at a slight loss) and I clued him in on another "instant" way to cash out. I suspect this has happened to others recently, given the price rise. Plus, some people are still holding bitcoin until withdrawals are caught up. I think they would rather have BTC in their wallet than MtGox USD at the moment, given their problems. So when MtGox USD is easily turned into fiat again, then the price will drop, to at least the 70-80 dollar range.

I mean why would it go UP? The price is currently high because there is no reason to sell, its not like you actually get fiat when you sell.

One reason it could go up is because the largest exchange is working again. You have to also consider that people aren't putting Fiat onto the exchange either, so that too will change which means more Bitcoins bought.

Perhaps a small dip followed by a rise, accounting for the few days it takes for fiat transfers to arrive (man current fiat systems suck).
member
Activity: 84
Merit: 10
2 words

Crypto Financial!
https://bitcointalksearch.org/topic/havelock-crypto-financial-cfig-official-thread-269191
I expect big things from these people, i will be investing during the IPO

it could even solve MtGox's fait problems!

Who are they?
What are their credentials?
Who are their customers?
How are they licensed to do the business they propose internationally?
Why do they propose initial value of $15 million? Based on an idea?
How much revenue do they bring in?
What profits do they have?
What's their track record?
Or is it all a "paper" plan - that's magically worth millions?

I would have thought people had learned something from the .com scams.
hero member
Activity: 784
Merit: 1000
A friend of mine was waiting about a month for a <20K USD withdrawal from Gox. They finally just cancelled the withdrawal upon request and he bought back his BTC (at a slight loss) and I clued him in on another "instant" way to cash out. I suspect this has happened to others recently, given the price rise. Plus, some people are still holding bitcoin until withdrawals are caught up. I think they would rather have BTC in their wallet than MtGox USD at the moment, given their problems. So when MtGox USD is easily turned into fiat again, then the price will drop, to at least the 70-80 dollar range.

I mean why would it go UP? The price is currently high because there is no reason to sell, its not like you actually get fiat when you sell.
legendary
Activity: 1904
Merit: 1037
Trusted Bitcoiner
https://www.mtgox.com/press_release_20130704.html

is it a lie?

apparently they just have a 2 week back log (and that was last month)

has anyone been able to get money out? anyone!
legendary
Activity: 1904
Merit: 1037
Trusted Bitcoiner
2 words

Crypto Financial!
https://bitcointalksearch.org/topic/havelock-crypto-financial-cfig-official-thread-269191
I expect big things from these people, i will be investing during the IPO

it could even solve MtGox's fait problems!
legendary
Activity: 960
Merit: 1028
Spurn wild goose chases. Seek that which endures.
If and when withdrawls start being processed again, I expect that arbitrage would slowly come back online, narrowing the present gap between Mt. Gox and other exchanges from its current ~8% to something more like 3-4% (perhaps less, depending on the number of people with Trusted verification on Gox). I expect that this won't cause too much drift in the price aside from reconciling the exchanges, since any money that wanted to leave the system probably either has done so or hasn't been spent on anything but "get in the withdrawl queue" any time recently, and deposits have presumably been going to other (cheaper) exchanges.
legendary
Activity: 2212
Merit: 1008
they said it was going to be 2 weeks over 5 weeks ago. .. .
legendary
Activity: 1008
Merit: 1003
WePower.red
I think MtGox is having fun doing 10% profit arbitrage between Bitstamp and their own platform, they won't release your fund until they have robbed all your money.

Good point...  Grin   Grin
full member
Activity: 238
Merit: 100
I think MtGox is having fun doing 10% profit arbitrage between Bitstamp and their own platform, they won't release your fund until they have robbed all your money.
legendary
Activity: 1162
Merit: 1004
I think MTGOX is doing some kind of financial innovation: Forever delay the fiat withdraw, which force people to either establish other exchanges (more exchanges = better bitcoin eco system) or spend them directly

Yes, other possibilities can be excluded. It's not possible, that a company acts so stupid for weeks and months.
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