Topic: MtGox withdrawal delays [Gathering] - page 104. (Read 908720 times)

Why does the trading continue?

It is obvious the Gox rates are way off from the market.  Why does Mt.Gox insist on not shutting down the trading?

Any normal exchange would have put a halt on trading until everything gets fixed.

However, Mt.Gox clearly is not,  so it is likely gaming this situation for themselves.

http://www.reddit.com/r/Bitcoin/comments/1ymb4r/some_light_on_the_horizon_for_gox/

+1 any source would be very appreciated.

And you base that on...price fluctuation or do you know they are testing some how

they are testing withdraw now

That was it what was ment by all the central banks warnings :

WTF you want to use a workaround, so  we can´t rob you through inflation anymore ??

Then people be prepared that we will show you how much you lose when we let other crooks stealing everything at once 

You won´t even get a license to protest it !

LOL, MtGox terorist  

http://www.coindesk.com/japanese-police-shut-down-protest-gox/
States protects the MtGox crooks !
Now someone tells me someone if this conspiracy theory or not ?

Thanks! I mean that.

By the way people, Slovenia (hence, Bitstamp) is not located in Eastern Europe. It's in Southern Europe, right next to Italy. It's got Mediterranean beaches and shit.

Im native to english and your mom. I just don't feel like reading a monutain of text when it is becoming clearer and clearer that gox is full of crap at this point. Gox is the child coming up with more inane excuses about why they can't pay . Waiting for the cat ate my homework excuse next which would sound just as plausible as goxs multitude of other excuses to this point.

word but the whole time i was reading that, i thought you were just doing some doge meme.

"hard gox move much money, wow."

Wait, I got this:

Japan banking system work well, faster withdrawals there.
Much regulations, hard Gox move much money; irregular activity.
People don't calc banking days right; If did, could predict date of money arrival.

*204 Characters, and doesn't convey shit.

Ah, a child of the Twitter generation raises his voice. They believe that everything can be expressed in 140 characters (which is probably true for their own thoughts). Wonder what they do when facing an entire book.

I read through the "wall of text". I do not agree with all of it, but all the contained thoughts could not be expressed very much shorter. Do keep the longer thoughts coming and ignore the people whose neuron network has already shrunk to Twitter size.

And this account needs to be seized as early as possible if anybody wants to see some of the bankruptcy proceedings

as it will be emptied as the rest of the shell ---- if not by depositors than by the cronies and laywers.

Unbelievable that all accounts are still free to be grapped for everybody even for the disappeared Mark

Severance26: Gox has an European branch, registered in Warsaw. When you send a SEPA deposit to Gox you are sending the money to MtGox Poland Inc Sp.z.o.o, which is NOT a Japanese company but a polish one, with a bank account in a LOCAL bank. Mizuho or Japan NET are not involved at all in SEPA deposits and transfers.

You are right capatalism- or better lets say the control of the money supply- in itself is a chain -letter where those at the printing presses

ripp-off the rest as they rule at their fingertips when the music stops and then grap all real assets of those who tried to be productive. Its

a complete scam.

BTC just is special as most of the community thought it to be ment for getting out of this greedy slavery !

And surely am hoping for peer to peer evolution after those centralised exchanges and the corrupted bitcoinfoundation get extinct !

Unluckily it seems that nobody get indicted in BTC world yet when stealing depositors blind.

We can agree to disagree, neither of us having actual knowledge of the goings on of ANY of these companies. All of the companies you mentioned however aren't flooded with looping arbitration transfers like Gox was leading up to current mess. That being said, I don't have physical evidence, so...

About the Polish bank. Not sure what you mean exactly. Your first and second statement contradict. Mt. Gox is a company based in Japan. They send fiat to Europe via the Polish bank, from a Japanese bank called Japan Net Bank. If you live have an account with that Polish bank, I suppose you are right that it is incorrect to call it intermediary. However if you forget that it is not the only bank in the process, then you lose sight of the restrictions placed on Gox by Japanese banks. Get my drift?

As for the other exchange. Bitstamp? You know more than I. I thought that it WASN't known, maybe that was BTC-e though. Sorry. I don't use other exchanges much, I live in Japan. But the bank's size does not speak to their KYC/AML policies, either.

I'm not sure what you consider "deep shit" to be. But I'm not sure I disagree with you anyway. As I said, I took a devil's advocate stance. Thanks for correcting my mistake about Bitstamp.

Just a quick note, surfing through my JNB acct online and guess what I found?

1日あたりの振込・送金限度額（初期設定金額300万円）を1万円単位で引き上げできます。

個人のお客さま    0 ～ 1億円    0 ～ 1,000万円
営業性個人のお客さま    0 ～ 1億円    0 ～ 1,000万円
法人のお客さま    0 ～ 1億円

$1mil per day (thereabouts with exchange rate)

Can anyone weigh in on this? The $64,000 question being, is this a big or small number for Gox for transfers in Japan?

It should be noted, I cannot find a limit on the NUMBER of transfers. Doubtless because, what normal human being would want to know? I'll post if I find it but I think I'm gonna have to make a phone call for information that random. Which'll have to wait til business hours on Monday...




Thanks alfa. I hear what you are saying. I personally believe that once more exchanges (esp in the US) come about, MtGox will indeed become a primarily Japanese exchange. The reason its so international is because it was one of the first, and despite the complaints on this forum, it still has a lot of trust (or did until a couple weeks ago. its gotten bad press in the Times, CNNMoney, etc as of this latest fiasco).

But Mark is like anyone else. Greedy. Why serve just Japan when you can serve the world and get more money? And despite the major issues and doomsaying, people are still sending Gox their money! So, why should he stop? For good customer service? Apparently, he doesn't care. He is making money because he can, and everyone is giving him business because they are greedy too. Such is the way of things.

Severance26: I'm sorry, but you got it wrong on many levels:

- big corporations DO more transfers than Gox on a daily basis. What about stock brokers? Forex exchanges? Wealth management businesses? Please, be serious.

- the Polish bank is not an "intermediary" bank. It is the main and only bank for SEPA deposits and SEPA withdrawals.

- that "shady exchange" located in "eastern europe" uses Unicredit, a MAJOR international bank. SEPA withdrawals take 2/3 days, not weeks. Big withdrawals too by the way, 5/6 figures no problem. And their volume is comparable to Gox.

- the name of its "unnamed CEO" is Nejc Kodric and that's public knowledge. Check his LinkedIn.

Again: all these delays just mean that Gox is in deep deep shit. Believing they are thieves is kinda stupid given their history, but believing that everything is OK and the risk is negligible is also terribly stupid and naive. Probably Gox is suffering LE harassment because of their past position as "the exchange" during the Silk Road time, probably they made bad choices and some mistakes too. Thinking all that is irrelevant "because they made SO much money in the past" is, again, incredibly naive.

Severance26
I can agree with some of your points but let me ask you why mark is running such masive exchange in spite?
If he has those issues he really can not solve it, then excuse me but run exchange only in japan and for japanesse customers.
Mark want to operate big exchange in spite- that does not make sense to me.

Edit
And i agree with rampion post what follow.