I have quit reading this thread due to high volume and very low signal to noise ratio. Just stopping by announce that my 10k EUR withdrawal from January 4th changed to pending today, and will arrive tomorrow. I have cancelled my other withdrawals to buy BTC.
Please re-consider. There needs to be a voice of reason in this mad house. I'm sure I'm not alone in appreciating your input.
What in his input do you appreciate the most?
Surely you understand that by following his advice, I would have lost about 1 million dollars compared to my biting the bullet and losing "only" 150k?Of all the people outside Mt.Gox, sturle bears perhaps the most responsibility of the untold millions that ordinary people lost by listening this lulling voice of "reason".
While I've been one of sturle's most vocal critics since mid-summer, I strongly disagree on him being responsible of anything. I defended Gox myself until they crapped on a smallish 5 figures FIAT withdrawal and after 5 weeks of absurd wait and BS excuses about how their "huge" (LOL) volume was "overwhelming the traditional banking system", I decided to cancel the withdrawal, buy BTC and leave that exchange for good. Because of people like me, we had that huge spread between Gox and the other exchanges.
My original point still remains: there's no way a small/medium business like Gox is "overwhelming" a bank, I work with banks every day and if you have the money you can steadily move it - that's the freaking business models of banks, they CHARGE you for that, and imposing absurd daily limits is a way of putting a cap to their income. That's BS and only an ignorant would believe that the reason is "the huge volume" which is putting pressure on the bank. If you cannot move your money something VERY BAD is happening, name it insolvency or law enforcement action or whatever, but
it's damn sure that its not because you are "overwhelming" their system. Thus, MtGox has been lying and making up bullshit excuses for months, many red flags have been raised, and the only ones responsible for having funds locked up on Gox are:
a) Gox itself (pretty obvious), because of their lack of transparence and their lousy/amateurish business practices (or let's say because they lied and took their customers for fools)
b) those who continued using gox despite the many serious red flags we have seen in the last months.
If by chance Gox has a real solvency issue because of law enforcement action, incompetence, or any other reason (which one its irrelevant: red flags are still red flags), you can be sure I will make fun of Sturles for months; but you can also be very sure that I will consider him responsible for nothing. He just gave his opinion, with which I strongly disagree - but that's it. Risto: you willingly trusted your funds to Gox despite of having first hand knowledge of the hard cold facts. Money in? No problem. Money out? hmmmm... Soon.