Topic: MtGox withdrawal delays [Gathering] - page 145. (Read 908727 times)

thanks for the info.

As indicated by the forum, I am a newbie (quite accurate), so this follow up question may seem obvious for many people but not to me:
where did you get this info? are you in direct contact with Gox (i.e. IRC or something similar)?

and if so, how can other people can contact Gox staff?

I don't like making guesses, so I'll let you all interpret this for yourselves:


Other news which may influence how you plan your BTC purchases when the BTC withdrawal floodgates open:
I.e: The amount of fiat on MtGox is increasing rapidly.

Think about this for a moment: If I made up a fake quote here where MagicalTux allegedly told me in private that MtGox would resume BTC withdrawals tomorrow morning, I could make a million by buying buckets of BTC on MtGox just before I posted it, and selling as soon as people start denouncing it as a fake.  Just by abusing your trust in me.  It will probably only work once, but that is all I need.  I can retire afterwards.  Always beware of market manipulation.  And note that my quotes above, which are correct, may be carefully selected and placed in a different context to manipulate the market.  Always be very critical to news and reports when you don't have the full story first hand, and take speculation for what it is: 100% made up, often for the purpose of manipulating the market.

I don't have any selective withdraw privileges.  Mine are the same as those of any other verified user.

Using what I have learned by experience and by filtering useful information from public fora over many years to have a greater chance to succeed when I try to withdraw is not the same as selective withdraw privileges.  Not all my attempts were successful, btw.  I made a number of 10 BTC withdrawals.  Some were successful, some not.  I did it at a time when I had reason to expect a higher success rate, based on public information and my own experience. 

In this case people came to #mtgox and complained about an error message which usually means the bitcoin address entered in the withdrawal form is invalid or indicates an empty hot wallet at MtGox.  This was at the middle of the night Tokyo time, and I knew they would fill up first thing in the morning.  After a couple hours the reports stopped coming, and this would be the sweet spot.  Hot wallet refreshed with old unspent inputs which most likely would be chosen first.  They don't keep dust in their cold wallets, so I could choose a reasonable withdrawal size as well.

No special privileges or access to restricted information needed.  Everything is out in the open for everyone to learn.  I am certainly not the only one unaffiliated with MtGox who used this trick.  The fresh inputs went very quickly.  My only fault here is telling you about it.

At least MtGox credited my failed withdrawals back to my account.  The 8 BTC withdrawal I made from Bitstamp this morning is still listed as "Finished", but nothing arrived, nothing credited back and support are quiet.  AFAIK Bitstamp has no IRC support either.

Yes, and even more criminal is the statement: well functioning multi-currency exchange

Decent APIs, only well functioning multi-currency exchange, very good arbitrage vs other exchanges and a deep order book.  To sum it up: Profit.

Okay, and why do you use MtGox still.

The Austrians are dreamers. Money has been debt from the very beginning. Gold and Gold 2.0 isn't money. It's a commodity.

Mostly it is old debt-as-money style bankers who are the true 100 year criminals, so the BTC criminals will need to study Austrian theories to succeed in 20th century terms of large scale theft under cloak of war and then rehypothecation of world funds under money cartel to fix gold price at USD 35, and so forth.

But I am not blaming any country, because bankers and debt-as-money cadre, infiltrate all nations.

Yes, in the bitcoin community there is a desire for the disappearing of the criminals ("trade with confidence!"). On the other side, there is enthusiastic defense, promotion and cheerleading of this criminal business behavior. That's sad, but true.

Even if all the BTC in stuck transactions were stolen (which is impossible, because most of the inputs were spent in three to six stuck transactions), it is still only a tenth of what MtGox has made in fees over the years.  It is certainly not going to bankrupt them.  You have to make up something more credible than that if you want to make people believe in your scam.