Topic: MT.Gox will not release over $26,000 USD (Read 8649 times)

i asked for withdrawal on january 10th (bank transfer, EUR),
live chat said  my transaction still queued on January 24th

verifying me took 27 (11 working) days for mtgox   

so after 45 days (from December 13th) i still cannot get my money from mtgox

https://bitcointalksearch.org/topic/mtgox-verifyingpayout-138528

Hello,

As of today, pending Dwolla withdrawals have been processed as the funds we sent have reached our account.  Should you still have not received your Dwolla withdrawal, please feel free to contact us at the Support Desk.

Hello,

Yes, you may apply for a Trusted account.  Please find the information regarding this below.

 “Trusted” Status (Level 2)

Being “trusted” has the following limits:


Traditional Currencies

Daily withdrawal limit (24hrs): 100,000 USD (or equivalent)

Monthly withdrawal limit: 500,000 USD (or equivalent)

Bitcoin

Daily Bitcoin withdrawal limit (24hrs): 20,000 BTC

Monthly Bitcoin withdrawal limit: none

 

Requirements for all "trusted" submissions:

All document required for "trusted” accounts must be notarized, apostilled and sent by priority mail to the address at the bottom of this page.


Requirements for Indviduals:

A  valid copy of a government issued photo ID and proof of residence (less than 3 months old) - E.g. A utility or phone bill.  If your documents are not in english, or do not have latin script, they need to be translated and then notarized before uploading.


Requirements for Businesses:

1. Certificate of incorporation/registration

2. Identity & address verification of shareholders entitles to 10% or more in voting rights

3. Company constitution or articles of memorandum and a

4. Copy of Trust Deed for the Trust involved as part of shareholders (if any)

 If your documents are not in english, or do not have latin script, they need to be translated and then notarized before mailing them. 

The “trusted” status is designed for day traders, professionals, and companies.

 

Please mail a notarized copy or translation of your government issued photo ID and proof of residence to :

Mt.Gox AML
Round Cross Shibuya 5F
11-6 Shibuya 2-Chome, Shibuya-ku
Tokyo, Japan
150-0002

is there a way to get validated for more than $1000/day or $10,000/month?

So you did receive those previous 26K?  How long did you wait total to receive the money?

Any explanation from Gox as to why the delay?

Well... true.  But now I'm on day 15 of a $4000 withdraw request and nothing.  Same old shit.

it's an old thread. not sure of the outcome exactly but I imagine Inaba got his money sometime or the thread wouldn't have died like it did.

This is kind of scary. It can be a sign that MTGOX does not have the funds to release..

This one was pretty funny. I guess that 8/10 may be as high as 8.5/10.

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Sometime later...


Later still...

8/10 if trolling

I am not saying just me, lots of people on the forum and bitcoin-otc will happily take some, a 1000 USD worth per person is easy.

No, he won't lose 3.5% if he waits till MtGox BTC prices are under 4.90 USD for a while. They go up and down around 5 dollar mark all the time, so its enough to wait a week or two and will be 4.90 or less, just be patient. He might even get more USD out of it in the end then he has now.

Yes, delays, but still it might be faster then waiting for MtGox to complete the wire (which nobody knows when will happen).

Some time ago a buy offered 500 BTC for sale on the marketplace here on the forum, paid by wire, and it was gone in under 48 hours. The 26000$ person here has just 10 times as much, so its not such a huge sum, can be liquidated with person-to-person trades in probably less time then MtGox finally makes the wire.

So the way to avoid MtGox's high fees and long delays is to pay you high fees and accept long delays.
Selling BTC at 4.89 is the equivalent of a 3.5% fee.  Include the 0.5% trading fee and cost of wire combined with the batches based on your ability to resell it doesn't look like that good of a "deal".

Would you care to mind your own business instead of asking unacceptable indiscreet questions which have nothing to do with the case?

If you leave your car at a guarded parking lot does someone ask you where you got it from when you want it back?

Ifs none of yours or MtGox's business. If someone claims that the 26'000 USD is his - bring proof, or shut up.

I strongly recommend you withdraw your money in Bitcoin in small steps (400 BTC/day or more if you're verified), and sell it on other markets. Put a buy order for something like 4.95 USD/BTC (not to loose to much money), and wait. Or even 4.92 USD, the price might drop a bit to the levels of 11-14 May - just a few days ago.

Because with time it might get even worse. MtGox might "pull an AML" on you, it might take another some weeks or months or you never know.

You must have not done a very good job searching at other exchanges.

Your sum is just 5200 BTC. That's just about daily volume of Intersango on GBP. Its just 2 days volume on http://www.bitcoin.de/ and you can get quite good prices there - but SEPA only.

There are several other markets. This is not such a huge sum, you get this liquidated to fiat in a week or less.

What country do you need the wire to?

Put some one sale on https://bitmarket.eu/market/USD and advertise it on https://bitcointalk.org/index.php?board=53.0

If you offer a good price (4.89 USD or less) I might be interested in buying by wire to anywhere in the world, in portions of 1000 USD a time, and I sell the BTC off in Europe and buy the next portion. Lots of other people would do the same probably.

"Become an individual exchanger amongst your social network. Centralized exchanges are vulnerable to attack by existing power structures. Cultivate and utilize a personal network of exchange partners to help you move in and out of your existing national currency."

Bitcoin: The Ultimate Offshore Bank Account?
http://tinyurl.com/3hu6qc5

"The safest way to acquire bitcoin is to let people know that you will accept it as payment for your products and services. Avoid exchanging it for national currencies. The point that people miss here is that national currencies are the very problem that freedom-lovers are trying to get away from. Instead, use bitcoin to trade with merchants and individuals who accept it as payment. Offer it as payment to those who are unaware of it and explain the benefits to them. This will help develop the market and create a solid economy outside of national currencies."

The Coming Attack On Bitcoin And How To Survive It
http://tinyurl.com/3b6d823

Inaba, judging from your quoted daily limit you haven't got a trust level 2 account, meaning more attention from AML when dealing with large amounts. Your situation deeply worries me as I planned to use Mt.Gox for transfers. However, I got my account verified up to level 2 and have $100k daily limit.

Ugh seems I missed the wire delay part.

Editing previous post for clarity.

I see 3 possibilities here

1. MtGox service suck. This would be, ironically, the best explanation but my personal experience with them which has been exemplary makes this seem unlikely.
2. MtGox is being excessively hampered by AML rules which for $26000 seems ridiculous.
3. MtGox is having cash flow problems. This would be alas the most worrisome for bitcoin in general and if true I wouldn't be surprised if Dwolla was to blame... after all the second largest bitcoin exchange blamed their demise entirely on Dwolla poor handling of their policies.

Dwolla is preventing MtGox from issuing wire transfers in a timely manner or providing realistic delay estimates?