MtGox withdrawal delays [Gathering] - page 178.

TheFootMan

hero member

Activity: 490

Merit: 500

Quote from: zyk on February 06, 2014, 09:02:13 AM

Anybody knows for sure if Mt. Gox is an idependent entity or still legally part of Tibanne Ltd. ?

Thanks for comments

The amount of complaints against MtGox is only growing.

Any sufficiently advanced incompetence is indistinguishable from malice.

They should hire an independent business manager that could see through their current system, and suggest changes. Getting payments done in a timely manner is what's most important, and that should be fixed ASAP.

Mtgox is currently a sinking ship. And it will be abandoned if they don't get their shit together.

zyk

full member

Activity: 224

Merit: 101

Anybody knows for sure if Mt. Gox is an idependent entity or still legally part of Tibanne Ltd. ?

Thanks for comments

donk4u

legendary

Activity: 889

Merit: 1000

Quote from: smoothie on February 05, 2014, 08:34:19 PM

Quote from: Bitnicity on February 05, 2014, 08:32:54 PM

I just got Gox email, they can't give a definite date for resolution:

-----------------------------
Dear Valued Customer,

We apologize for the delay in reply. We merged the tickets for a better follow up. We can see that your withdrawal is yet to be processed. The transactions are being re-issued automatically.All BTC are safe ,the transaction will be processed and they are not lost or stolen.We are working to resolve the issue, but at this point we are unable to give a definite date of resolution.Please be advised that BTC on MtGox are not fractional.

We apologize for the inconvenience this may have caused and Thank you for your patience.

Best regards,

MtGox Team
https://www.mtgox.com

----------------

@MTGOX please prove the bolded statements. Cheesy

I got the same exact email . I wonder what reissued automatically means? In my case it meant after 8 days the withdrawl yet to be processesd that was being reissued automatically was timed out by developmental team placed back in my mt gox wallet were it was immediatly stuck again when i reseent. I got the above email 3 times to different tickets

bitcool

legendary

Activity: 1441

Merit: 1000

Live and enjoy experiments

If there's problem in its "system", what prevents an exchange from manually sending customers' money back to their rightful owners?

Even for the banksters, not being able to giving customers' money back is a very big deal.

Up until this point, many have been very forgiving to MTGox's fiat withdrawal problems, with the understanding of it's being created by oppressive governments... But not being able to withdraw BTC is an entirely different issue.

Bitcoin community should have zero tolerance on BTC withdrawal problem, it's a telltale sign of fractional reserve and insolvency, no matter what they say.

This is the very problem of current banking system Bitcoin was supposed to address.

cedivad

legendary

Activity: 1176

Merit: 1001

Looks like my avatar is relevant like never before.

Btw, i think that no one here knows the true reasons behind what's happening. I at least don't see any rationale one, apart from the one from NewLiberty.
It will be interesting to follow it as the story unfolds.

jack0m

legendary

Activity: 3738

Merit: 2027

Quote from: whave on February 06, 2014, 07:23:25 AM

Quote from: jack0m on February 06, 2014, 06:10:57 AM

From last update i read: "Smaller transactions should be fine in the meantime"

@MtGox, Please define "Smaller". I made three attempts to withdraw 0.8 BTC, then 0.5 and 0.4999 respectively, all ended up in a failure.
So how small must be any "smaller transaction" to succeed? Smaller than what??

Besides, I have a SEPA withdrawal still in confirmed status since 2014-01-02 21:31:32 GMT

Weren't they processing Dec 30th requests on Sunday, according to sturle?

Any news highly appreciated

Please DO tell us when your SEPA has finally gone out, so we can get a rought estimate how delayed are they...

I'll gladly do it, when (if?) that happens

AFox

hero member

Activity: 539

Merit: 517

I see a bunch of people saying that MtGox is going to go out of business.
This is for those people Cheesy

http://bitbet.us/bet/751/mtgox-out-of-business-in-2014/

smoothie

legendary

Activity: 2492

Merit: 1473

LEALANA Bitcoin Grim Reaper

Quote from: sturle on February 06, 2014, 05:05:18 AM

Quote from: smoothie on February 06, 2014, 03:23:03 AM

Quote from: sturle on February 06, 2014, 02:59:30 AM

Quote from: vleroybrown on February 05, 2014, 08:21:29 PM

This continuing delay for what is most likely a majority of users based on success rates of those who have withdrawn funds in multiple smaller amounts, can in my limited technical understanding only indicates on thing

People with some technical understanding can easily see this is a technical issue. Not an easy one.

Some people with limited technical understanding claim there is a ghost in their computer and return it to the manufacturer when there is a software problem. I guess this is the equivalent. MtGox have made about 400k BTC in fees over the years (estimated from volume), and have spent very little of this. Some in Bitcoin Foundation membership fee and some to buy other companies. All the evidence is clearly on the technical side.

Prove the bolded statement.

You know very well it is just as impossible to prove the bold statement as proving or disproving the underlined statement.

MtGox made a commitment a very long time ago (2011) to not sell their BTC, and only use it as a currency for purchases, etc. They will pay salaries in BTC as well, but when MT was asked about this last year he said none of his employees had asked for that. The known purchases are a website or two, an exchange in Poland (17k BTC, the largest I know of) and their Bitcoin Foundation membership fees (25k BTC the first year iirc, much lower now).

So much for facts backed up by evidence. Just because you say something, it doesn't make it true. Roll Eyes

pedro82

member

Activity: 91

Merit: 10

Quote from: whave on February 06, 2014, 07:23:25 AM

Quote from: jack0m on February 06, 2014, 06:10:57 AM

From last update i read: "Smaller transactions should be fine in the meantime"

@MtGox, Please define "Smaller". I made three attempts to withdraw 0.8 BTC, then 0.5 and 0.4999 respectively, all ended up in a failure.
So how small must be any "smaller transaction" to succeed? Smaller than what??

Besides, I have a SEPA withdrawal still in confirmed status since 2014-01-02 21:31:32 GMT

Weren't they processing Dec 30th requests on Sunday, according to sturle?

Any news highly appreciated

Please DO tell us when your SEPA has finally gone out, so we can get a rought estimate how delayed are they...

The question is... are they processing SEPA transfers these days ? i guess not ! Shocked

whave

newbie

Activity: 42

Merit: 0

Quote from: jack0m on February 06, 2014, 06:10:57 AM

From last update i read: "Smaller transactions should be fine in the meantime"

@MtGox, Please define "Smaller". I made three attempts to withdraw 0.8 BTC, then 0.5 and 0.4999 respectively, all ended up in a failure.
So how small must be any "smaller transaction" to succeed? Smaller than what??

Besides, I have a SEPA withdrawal still in confirmed status since 2014-01-02 21:31:32 GMT

Weren't they processing Dec 30th requests on Sunday, according to sturle?

Any news highly appreciated

Please DO tell us when your SEPA has finally gone out, so we can get a rought estimate how delayed are they...

MikeH

sr. member

Activity: 406

Merit: 250

my support ticket for failed withdrawal hasn't even been assigned to anyone after 3 days - not even a copy/pasted generic response, whyyy.

jack0m

legendary

Activity: 3738

Merit: 2027

From last update i read: "Smaller transactions should be fine in the meantime"

@MtGox, Please define "Smaller". I made three attempts to withdraw 0.8 BTC, then 0.5 and 0.4999 respectively, all ended up in a failure.
So how small must be any "smaller transaction" to succeed? Smaller than what??

Besides, I have a SEPA withdrawal still in confirmed status since 2014-01-02 21:31:32 GMT

Weren't they processing Dec 30th requests on Sunday, according to sturle?

Any news highly appreciated

Lohoris

hero member

Activity: 630

Merit: 500

Bitgoblin

Quote from: pedro82 on February 06, 2014, 05:44:16 AM

The new year holiday message they present in their site at almost mid February doesn't look like a technical problem nor even a excuse . It looks like an abandon Ship ! Shocked

I really can't undersant how did a market like this could stand for so long, who the hell on earth would deposit money in their bank accounts to buy btc, 10% more expensive than the rest of exchangers. A market like this should quickly increase spread (many people selling, few buying) and blown it self, it never happened !

Other thing i can't understand is how they did to manage to be one of largest in volume transaction, even now days when you can't do there nothing more than bare your money.

Because greed and sloth make people stupid.

pedro82

member

Activity: 91

Merit: 10

The new year holiday message they present in their site at almost mid February doesn't look like a technical problem nor even an excuse . It looks like an abandon Ship ! Shocked

I really can't undersant how did a market like this could stand for so long, who the hell on earth would deposit money in their bank accounts to buy btc, 10% more expensive than the rest of exchangers. A market like this should quickly increase spread (many people selling, few buying) and blown it self, it never happened !

Other thing i can't understand is how they did to manage to be one of largest in volume transaction, even now days when you can't do there nothing more than bare your money.

sturle

legendary

Activity: 1437

Merit: 1002

https://bitmynt.no

Quote from: smoothie on February 06, 2014, 03:23:03 AM

Quote from: sturle on February 06, 2014, 02:59:30 AM

Quote from: vleroybrown on February 05, 2014, 08:21:29 PM

This continuing delay for what is most likely a majority of users based on success rates of those who have withdrawn funds in multiple smaller amounts, can in my limited technical understanding only indicates on thing

People with some technical understanding can easily see this is a technical issue. Not an easy one.

Some people with limited technical understanding claim there is a ghost in their computer and return it to the manufacturer when there is a software problem. I guess this is the equivalent. MtGox have made about 400k BTC in fees over the years (estimated from volume), and have spent very little of this. Some in Bitcoin Foundation membership fee and some to buy other companies. All the evidence is clearly on the technical side.

Prove the bolded statement.

You know very well it is just as impossible to prove the bold statement as proving or disproving the underlined statement.

MtGox made a commitment a very long time ago (2011) to not sell their BTC, and only use it as a currency for purchases, etc. They will pay salaries in BTC as well, but when MT was asked about this last year he said none of his employees had asked for that. The known purchases are a website or two, an exchange in Poland (17k BTC, the largest I know of) and their Bitcoin Foundation membership fees (25k BTC the first year iirc, much lower now).

Bitnicity

newbie

Activity: 56

Merit: 0

Quote from: Miles on February 06, 2014, 04:33:33 AM

Mt Gox just can't be insolvent. They're making too much money in fees, and it is not like mining (real mining) where there are massive capex costs and debt from the outset. Sorry Mt Gox haaaaas the money, I really think the problem is with technical competence of the current staff.

I wouldn't abandon this ship if i were sitting on this fucking juicy gold mine, they have the highest trading fees on the planet and they also possibly run their own pro trading machines that generate even more profits, ie take advantage of the huge manipulated arbitrage premium, this supposedly is the most profitable bitcoin business operation ever existed, but their incompetence is just eroding their money making "moat" ;

this business could easily be a $500m valuation in a VC's eyes, just make me difficult to rationalize and they must be damn insane to take $40m client fund and risking of going to jail, v.s staying float on digging out their gold every fucking minute.

Miles

newbie

Activity: 15

Merit: 0

Mt Gox just can't be insolvent. They're making too much money in fees, and it is not like mining (real mining) where there are massive capex costs and debt from the outset. Sorry Mt Gox haaaaas the money, I really think the problem is with technical competence of the current staff.

Elo

newbie

Activity: 14

Merit: 0

Since they resumed withdrawals, but apparently without fixing any of the issues causing transactions to fail, I attempted another 34 transactions.

Of those, 6 went through. The other 28 are stalled.

That's about an... 82% failure rate. :/

smoothie

legendary

Activity: 2492

Merit: 1473

LEALANA Bitcoin Grim Reaper

Quote from: sturle on February 06, 2014, 02:59:30 AM

Quote from: vleroybrown on February 05, 2014, 08:21:29 PM

This continuing delay for what is most likely a majority of users based on success rates of those who have withdrawn funds in multiple smaller amounts, can in my limited technical understanding only indicates on thing

People with some technical understanding can easily see this is a technical issue. Not an easy one.

Some people with limited technical understanding claim there is a ghost in their computer and return it to the manufacturer when there is a software problem. I guess this is the equivalent. MtGox have made about 400k BTC in fees over the years (estimated from volume), and have spent very little of this. Some in Bitcoin Foundation membership fee and some to buy other companies. All the evidence is clearly on the technical side.

Prove the bolded statement.

sturle

legendary

Activity: 1437

Merit: 1002

https://bitmynt.no

Quote from: vleroybrown on February 05, 2014, 08:21:29 PM

This continuing delay for what is most likely a majority of users based on success rates of those who have withdrawn funds in multiple smaller amounts, can in my limited technical understanding only indicates on thing

People with some technical understanding can easily see this is a technical issue. Not an easy one.

Some people with limited technical understanding claim there is a ghost in their computer and return it to the manufacturer when there is a software problem. I guess this is the equivalent. MtGox have made about 400k BTC in fees over the years (estimated from volume), and have spent very little of this. Some in Bitcoin Foundation membership fee and some to buy other companies. All the evidence is clearly on the technical side.

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