Topic: MtGox withdrawal delays [Gathering] - page 108. (Read 908720 times)

MtGox is allowed to pay out a maximum of 6 million euro a month due to European law (They need some license to be allowed to pay out more than 6 a month)
This means they can pay out about 200.000€ a day. On any certain day, when they are close to that limit of 200.000 the bank adds some small withdrawals (like your 50 euro) to get to that 200K limit. That is why small withdrawals are paid very fast and bigger withdrawals just wait in line.

This is interesting stuff here feed is now off they need to get a protest license

the police is talking to the protesters.

http://www.ustream.tv/channel/mtgox-protest

because I believe gox or people in collusion with them or people with insider information wanted to cause a panic sale, which they did at least partially. We still don't have a goxBTC at 50usd but who knows from now on.
It seems that the trend is up though.

I transferred money from OKPAY and via SEPA last sunday and still no deposit or any reaction of the support staff -.-

I am afraid the tragedy allready happend no matter what happens to MtGox. I am sorry for everyone having Coins or FIAT with Gox, but I think this could burn bitcoin to ashes considered the overall picture. Lets investigate the main reason for the cryptoboom:

We have a free currency not being influenced by politicians, governments or banks around the world. The money is just controled by the users. Thats fine. However, the other side of the coin is that companies around the world can operate in legal limbo. No doubt, if something similar happened to a bank, authorities would allready have taken control to investigate whats going on. From what we have seen so far even deposits would have been guaranted (at least up to 100.000 Eur as in Cyprus). In contrary, if the Gox guys dont run as milionaires given the arbitrage they can play, they are dumb as a bucket of shrimp...

Again, no matter what happens to Gox, the trust is gone. The merchants wont care about technical details. As soon as everyone realises that this could also happen (close and run) to their wallet-provider er even other exchanges, this migth be a death penalty to bitcoin.

i'd also place in the mix; 3. mass mining farms flying in the face of the ethos of decentralisation.

There are more midgies in the broth than just the troubles at gox. Remember, the market has been ignoring gox btc value for a few days now. Those big farms will have a dictat on the value because we are seeing those who run these farms now with hundreds of thousands of coin - it's obviously going to devalue the asset (in many ways).

Made a 50 Euro SEPA withdrawal on the 16th of Feb.   Was posted in my German bank on the 18th of February.   Meanwhile my withdrawal for 1,000 Euro from 22 January is not yet even pending.  

Meanwhile I initiated another 50 Euro withdrawal.  

Probably they were just trying to tempt me to put more money back in.   No way!  I would buy 1 BTC from someone, at this point, at Mt.Gox price, just as a further test to take out 50 Euro at a time, but pay for it on the side --  I wouldn't want to see MtGox get another cent to play with.

Further note:  I just got a reply from support telling me what I had already found out about the 50 Euro deposit to my German bank, and the way it was worded indicated that the meaning of the FAQ, where they talk about withdrawals under 100 Euro, is that such transactions are not entered into their infamous "queue", and are processed independently and quickly.   So everyone, get those 99.99 Euro withdrawals moving on out.  Of course I got only the world's most confusing statement about why my 1,000 Euro withdrawal was still hanging out to dry.

I have an idea, just as a test. And just for whoever tries it first:  I run Computer Shop of Calgary LTD, the world oldest computer retailer, and also sell OpenBSD items via www.openbsd.org/orders.html.  Order $150 CDN worth of merchandise, including at least one poster.  Don't pay by credit card but select "pre-arranged", and mention in the comments you want to pay by 1 MtGox Euro.   You will get an order confirmation, followed once shipping alerts me to it, by an email with how to pay.  Send it after I email you a wallet address at MtGox (since moving Bitcoin within MtGox is still enabled).   Next step, send me an email saying you want to cancel the order.  I will refund you by SEPA transfer if you give me your IBAN number, 100 Euros.  Plus I will send you the poster anyway!   Why so complicated?  It's so that you will know that you are dealing with a reliable merchant, and not be afraid to advance one MtGox bitcoin.  And we have way too many posters still in stock, plus I love to promote OpenBSD.  [email protected]

You're not alone.

How many employees actually work at MtGox?
Thanks

They could have already done that when the price was $200 higher then the other exchanges.

Mtgox must be making money – great business model – stop all transfers -
Buy BTC for about $135 sell them on other exchanges for $550
Transfer money back to bank account and repeat the cycle till you have enough funds and then re-open btc and bank transfer (and control the amount that can be withdrawn)


your money is safe with MTgox

Okay.  Good luck.  But, I think this is a great thread because of all the data I have put into it.  People who don't believe or understand conspiracy, are dummies.  Just my .02 in response to your point above.

So why are they in front of the building if karpeles and company left? THey vacated that office building no?

Note the ignore function. It solves at least part of the problem.

It would solve most of it if people would not quote inconsiderately.

some japanese people know about bitcoin. the bitcoin community here is mostly western, however (read white). also people that live here, who know how japan works, read the half-baked conspiracy theories on this thread, and recognizing them for what they are, dont feed the trolls, and just quietly wait, holding onto their goxcoins.

i have btc in gox. ive gone in more since the drop. why? because i recognize the difference between risk and perception of risk. people are stupid. they think this thread has valuable information. unfortunately, sturle was right, this thread has gone increasingly downhill as it has gained popularity. more unformation is all thats left.

the only thing im really concerned about is the idea that the yakuza pulled off some kind of extortion or heist. one look at mark... nope. incompetent yes, malicious, no. but the incompetence (and lack of security at the medio bldg) may be the security problem they referred to in their update.

if his security concern was some white people standing in front of his building, then im REALLY NOT worried. he's just a poof then, and we are merely waiting for him to take his time and hen-peck some coding lines into the goxmachine.

oh and, to answer your last question, japanese people generally dont have much english ability. they stick to 2chan, you can threads on bitcoin (in japanese) there. the japanese-speaking thread on this website is basically dead (just a few of us weeaboos stop and blurb something in hiragana) id wager a guess though that of all the residents of japan who have accts at gox, the majority of them are expats. bitcoin is still very much an english-speaking phenomenon.

why are there only 3 people there?  all foreigners.  where is the japanese bitcoin community?  are any of them commenting on this forum?

Likely this is due to two factors:

1. Confidence in Bitcoin has sunk because of the MTGOX debacle

2. People are anticipating that any coins that come out of gox will be immediately sold for a profit.

Looks like you need to be on Farcebook to post messages to them. Fail. Fucking super fail since I can't stand FaceCrook.

Edit: Nope, you can use ustream. I fail. Bad me. Sleepy. Too much brain work today.

C

Confirming legit link