MtGox USD withdrawals and deposits will soon be processed! - page 2.

ElectricMucus

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Marketing manager - GO MP

Quote from: jl2012 on August 08, 2013, 03:34:22 AM

Quote from: adamstgBit on August 07, 2013, 09:09:15 PM

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.

This is just BS. It mentions nothing about withdrawals

You noticed?

johnyj

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Beyond Imagination

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

Same as government forcing people to use fiat money, we could also force people to use bitcoin Grin

Impaler

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Quote from: bitcoin carpenter on August 07, 2013, 11:02:44 PM

I just kept waiting for the punchline

Seriously, you have to be retarded to fall for such a system, it's almost like this is a parody of what Austrians think that Keynesians think.

jl2012

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Quote from: adamstgBit on August 07, 2013, 09:09:15 PM

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.

This is just BS. It mentions nothing about withdrawals

Tzupy

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Activity: 2170

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IF MtGox would normalize $ outflow, this would result in about 5 $ drop on MtGox, and maybe 2 $ rise on Bitstamp.

PS. This is an optimistic scenario. If someone had 20k BTC on MtGox and wanted to cash out now, a huge dump
down to 98 $ would be the best choice, assuming MtGox would be processing his withdrawal in less than 10 days.
But for now the small dumps of BTC transferred from MtGox to Bitstamp continues.

bitcoin carpenter

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I just kept waiting for the punchline

adamstgBit

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Quote from: Ares on August 07, 2013, 10:40:10 PM

Quote from: adamstgBit on August 07, 2013, 10:14:07 PM

http://www.youtube.com/watch?v=t_16OQx_I8E

finally an easy way to double your money

what did I just watch

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?

Ares

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Quote from: adamstgBit on August 07, 2013, 10:14:07 PM

http://www.youtube.com/watch?v=t_16OQx_I8E

finally an easy way to double your money

what did I just watch

Frozenlock

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Quote from: adamstgBit on August 07, 2013, 10:03:50 PM

Quote from: ardana123 on August 07, 2013, 09:59:41 PM

in the past we've seen a gap of as little as 50c between bitstamp and gox, so i expect this time won't be different, although stretched out over a longer timespan due to bitstamps lower volume

the gap will not close as long as mtGox isn't processing USD withdrawal.

Well said! Tongue

adamstgBit

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http://www.youtube.com/watch?v=t_16OQx_I8E

finally an easy way to double your money

adamstgBit

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Quote from: ardana123 on August 07, 2013, 09:59:41 PM

in the past we've seen a gap of as little as 50c between bitstamp and gox, so i expect this time won't be different, although stretched out over a longer timespan due to bitstamps lower volume

the gap will not close as long as mtGox isn't processing USD withdrawal.

ardana123

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in the past we've seen a gap of as little as 50c between bitstamp and gox, so i expect this time won't be different, although stretched out over a longer timespan due to bitstamps lower volume

adamstgBit

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Quote from: ardana123 on August 07, 2013, 09:36:46 PM

Quote from: ?? on ??

Quote from: ardana123 on August 07, 2013, 09:00:59 PM

Quote from: ?? on ??

Quote from: Wagner2014 on August 07, 2013, 08:29:30 PM

One theory is the price will go down. Why? People will no longer have to buy coins to sell on other exchanges to get access to their funds. This will cause the demand for BTCs to go down. The price between exchanges should narrow.

It is not rocket science to conclude then that once Ft. Gox deposit/withdrawal volume is able to fill the arb channel it will close, most likely closer to the Gox side than to the Bitstamp side, since Gox has the volume advantage.

most logically they would meet somewhere in the middle

They would—if Bitstamp can pull out the volume to do that.

it's not a matter of "volume", if there's money to be made by easy arbitrage people would do it in a heartbeat, it's that simple.

well ya but their wouldn't be enough volume on stamps for everyone to arbitrage
and their would be plenty of volume on gox to absorb the sales from arbitrage
and so, price will will not meet in the middle.

ardana123

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Activity: 504

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Quote from: ?? on ??

Quote from: ardana123 on August 07, 2013, 09:00:59 PM

Quote from: ?? on ??

Quote from: Wagner2014 on August 07, 2013, 08:29:30 PM

One theory is the price will go down. Why? People will no longer have to buy coins to sell on other exchanges to get access to their funds. This will cause the demand for BTCs to go down. The price between exchanges should narrow.

It is not rocket science to conclude then that once Ft. Gox deposit/withdrawal volume is able to fill the arb channel it will close, most likely closer to the Gox side than to the Bitstamp side, since Gox has the volume advantage.

most logically they would meet somewhere in the middle

They would—if Bitstamp can pull out the volume to do that.

it's not a matter of "volume", if there's money to be made by easy arbitrage people would do it in a heartbeat, it's that simple.

adamstgBit

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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.

ardana123

hero member

Activity: 504

Merit: 500

Quote from: ?? on ??

Quote from: Wagner2014 on August 07, 2013, 08:29:30 PM

One theory is the price will go down. Why? People will no longer have to buy coins to sell on other exchanges to get access to their funds. This will cause the demand for BTCs to go down. The price between exchanges should narrow.

It is not rocket science to conclude then that once Ft. Gox deposit/withdrawal volume is able to fill the arb channel it will close, most likely closer to the Gox side than to the Bitstamp side, since Gox has the volume advantage.

most logically they would meet somewhere in the middle

Walsoraj

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Ultranode

Quote from: adamstgBit on August 07, 2013, 08:26:44 PM

~~When~~ The price will go straight up when mtgox starts processing USD withdrawals and deposits~~, how do you think this will affect price?~~. ~~why?~~ Please explain why in essay format, 5 page limit.

i fix

humanitee

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Quote from: adamstgBit on August 07, 2013, 08:26:44 PM

~~When~~ If mtgox starts processing USD withdrawals and deposits, how do you think this will affect price? why?

FTFY

Wagner2014

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One theory is the price will go down. Why? People will no longer have to buy coins to sell on other exchanges to get access to their funds. This will cause the demand for BTCs to go down. The price between exchanges should narrow.

adamstgBit

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Trusted Bitcoiner

Quote from: torba on August 07, 2013, 08:28:02 PM

Withdraws and deposits as in fiat?

yes. editing...

I think the price will rocket!

because everyone will get their dollars back, and they will want to buy bitcoins because of the good news.

Topic: MtGox USD withdrawals and deposits will soon be processed! - page 2. (Read 4833 times)