MtGox withdrawal delays [Gathering] - page 201.

Alpaca Bob

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Quote from: Nagle on January 26, 2014, 02:30:57 PM

The spread between Mt. Gox and the other exchanges is around 22% today. This may be an all-time high. We've seen 20% a few times, but above 20% has been rare. The spread has been climbing slowly for weeks. (Is this charted somewhere? "bitcoincharts.com" doesn't chart it, but they're run by Mt. Gox.)

http://www.coinometrics.com/bitcoin/dispersion

btw where's Sturle to calm everybody down?

smoothie

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LEALANA Bitcoin Grim Reaper

Quote from: Roy Badami on January 26, 2014, 04:03:44 PM

Quote from: Nagle on January 26, 2014, 02:30:57 PM

The spread between Mt. Gox and the other exchanges is around 22% today. This may be an all-time high. We've seen 20% a few times, but above 20% has been rare. The spread has been climbing slowly for weeks. (Is this charted somewhere? "bitcoincharts.com" doesn't chart it, but they're run by Mt. Gox.)

It's a slow day. This isn't due to volatility. This is purely the penalty for using Mt. Gox.

That number is getting into the range where a run on Mt. Gox is likely.

A disconnect between markets is hardly surprising, given the delays in JPY withdrawals (previously the only fast withdrawal route) means arbitrage is going to be far less effective at making Gox track other markets. (I wonder if the JPY withdrawal delays are in turn caused by an increasing number of arbitrageurs making use of this route.)

roy

Hardly surprising but ALARMING would be a better word I would use.

RED FLAG ALERT

smoothie

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Quote from: Netprofits on January 26, 2014, 04:11:57 PM

Quote from: smoothie on January 26, 2014, 03:41:55 PM

Looks like the death spiral is starting to accelerate.

1. Delays on USD and other fiat - CHECK

2. Delays on JPY withdrawals - CHECK

3. Delays on BTC withdrawals - CHECK

4. Silence due to above 3 items - CHECK

Roll Eyes

Would they at least wait until I remove my last coins? Seriously, what I find absolutely troubling is 1) this issue now affects 10,473.89 coins (if I read the data correctly), combined with the fact that 2) it happened on a weekend when far too often bad news is delivered/ discovered. I hope I am mistaken about this.

My question is, how long does it take for bad transactions to be cleared? If this requires Gox to 'double spend' in order to correct, I would not even want to consider the additional delays this would create in the Gox world. I shudder to think how long it would take for their support to clear around 11,000 BTC worth of action?

Edit: Misread the data. Or did I?

The recent uptick in MTGOX price I presume is due to a slight panic from users wanting to get their BTC off the exchange by buying it back at likely a loss and withdrawing...and now....delay in BTC confirmation.

Not surprising. More to come I am sure as the year progresses.

Netprofits

newbie

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Quote from: smoothie on January 26, 2014, 03:41:55 PM

Looks like the death spiral is starting to accelerate.

1. Delays on USD and other fiat - CHECK

2. Delays on JPY withdrawals - CHECK

3. Delays on BTC withdrawals - CHECK

4. Silence due to above 3 items - CHECK

Roll Eyes

Would they at least wait until I remove my last coins? Seriously, what I find absolutely troubling is 1) this issue now affects 10,473.89 coins (if I read the data correctly), combined with the fact that 2) it happened on a weekend when far too often bad news is delivered/ discovered. I hope I am mistaken about this.

My question is, how long does it take for bad transactions to be cleared? If this requires Gox to 'double spend' in order to correct, I would not even want to consider the additional delays this would create in the Gox world. I shudder to think how long it would take for their support to clear around 11,000 BTC worth of action?

Edit: Misread the data. Or did I?

Roy Badami

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Quote from: Nagle on January 26, 2014, 02:30:57 PM

The spread between Mt. Gox and the other exchanges is around 22% today. This may be an all-time high. We've seen 20% a few times, but above 20% has been rare. The spread has been climbing slowly for weeks. (Is this charted somewhere? "bitcoincharts.com" doesn't chart it, but they're run by Mt. Gox.)

It's a slow day. This isn't due to volatility. This is purely the penalty for using Mt. Gox.

That number is getting into the range where a run on Mt. Gox is likely.

A disconnect between markets is hardly surprising, given the delays in JPY withdrawals (previously the only fast withdrawal route) means arbitrage is going to be far less effective at making Gox track other markets. (I wonder if the JPY withdrawal delays are in turn caused by an increasing number of arbitrageurs making use of this route.)

roy

AFox

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Quote from: richardweiming on January 26, 2014, 03:31:13 PM

Quote from: fr33d0miz3r on January 26, 2014, 01:24:35 PM

Quote from: nmersulypnem on January 26, 2014, 11:49:23 AM

I don't understand what I'm looking at.... Does this webapp somehow detect withdrawals on the blockchain from known Gox addresses that are over two hours old? I mean, it can only do so if Gox actually published to the blockchain, right? Which is not the real concern, right? Aren't we concerned that they are blocking withdrawals outright?

MtGox detects its withdrawals and publish all unprocessed transactions (which are unprocessed after 2 hours) in their API. And this website shows that transactions.

https://en.bitcoin.it/wiki/MtGox/API/HTTP/v0#0.2Fbitcoin_tx

I have 2 10 bitcoins withdraw not receive in several hours.
I only have the 2
Transaction reference: 21f57eda-dd79-4244-9890-2dca284945b5
Transaction reference: 413f630a-4952-4bac-b983-51bb2809369b

I did not not the TX ID when the withdraw is made. How can I check my withdraw details now? How to find my TX ID. It seems without the TX ID. All the api can not use.

who can help me?

A friend of mine and myself did several BTC withdraws tonight.
None of them appeared in the block chain...

No BTC withdraws Sunday ?

smoothie

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LEALANA Bitcoin Grim Reaper

Looks like the death spiral is starting to accelerate.

1. Delays on USD and other fiat - CHECK

2. Delays on JPY withdrawals - CHECK

3. Delays on BTC withdrawals - CHECK

4. Silence due to above 3 items - CHECK

Roll Eyes

richardweiming

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Quote from: fr33d0miz3r on January 26, 2014, 01:24:35 PM

Quote from: nmersulypnem on January 26, 2014, 11:49:23 AM

I don't understand what I'm looking at.... Does this webapp somehow detect withdrawals on the blockchain from known Gox addresses that are over two hours old? I mean, it can only do so if Gox actually published to the blockchain, right? Which is not the real concern, right? Aren't we concerned that they are blocking withdrawals outright?

MtGox detects its withdrawals and publish all unprocessed transactions (which are unprocessed after 2 hours) in their API. And this website shows that transactions.

https://en.bitcoin.it/wiki/MtGox/API/HTTP/v0#0.2Fbitcoin_tx

I have 2 10 bitcoins withdraw not receive in several hours.
I only have the 2
Transaction reference: 21f57eda-dd79-4244-9890-2dca284945b5
Transaction reference: 413f630a-4952-4bac-b983-51bb2809369b

I did not not the TX ID when the withdraw is made. How can I check my withdraw details now? How to find my TX ID. It seems without the TX ID. All the api can not use.

who can help me?

Nagle

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The spread between Mt. Gox and the other exchanges is around 22% today. This may be an all-time high. We've seen 20% a few times, but above 20% has been rare. The spread has been climbing slowly for weeks. (Is this charted somewhere? "bitcoincharts.com" doesn't chart it, but they're run by Mt. Gox.)

It's a slow day. This isn't due to volatility. This is purely the penalty for using Mt. Gox.

That number is getting into the range where a run on Mt. Gox is likely.

fr33d0miz3r

hero member

Activity: 518

Merit: 500

Quote from: nmersulypnem on January 26, 2014, 11:49:23 AM

I don't understand what I'm looking at.... Does this webapp somehow detect withdrawals on the blockchain from known Gox addresses that are over two hours old? I mean, it can only do so if Gox actually published to the blockchain, right? Which is not the real concern, right? Aren't we concerned that they are blocking withdrawals outright?

MtGox detects its withdrawals and publish all unprocessed transactions (which are unprocessed after 2 hours) in their API. And this website shows that transactions.

https://en.bitcoin.it/wiki/MtGox/API/HTTP/v0#0.2Fbitcoin_tx

Netprofits

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Quote from: nmersulypnem on January 26, 2014, 11:49:23 AM

I don't understand what I'm looking at.... Does this webapp somehow detect withdrawals on the blockchain from known Gox addresses that are over two hours old? I mean, it can only do so if Gox actually published to the blockchain, right? Which is not the real concern, right? Aren't we concerned that they are blocking withdrawals outright?

I have the same questions regarding the webapp and the blockchain(BC). I am nearing 36 hrs. since I withdrew my BTC. My screenshot from Gox shows the withdraw to the proper address but nothing has made the BC.

Edit: I hope this will ease some concerns. My update is @ https://bitcointalksearch.org/topic/m.4758517

nmersulypnem

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Quote from: gizmoh on January 25, 2014, 04:32:40 PM

There is a nice web app, to look for your lost btc withdrawals from Gox giving possible reasons( Mine is showing LT : Large Transaction Size)

http://skanner.net/MtGox/mtgox_tx.php

Support tickets takes 4-5 days to be responded, as they have huge backlog.

I don't understand what I'm looking at.... Does this webapp somehow detect withdrawals on the blockchain from known Gox addresses that are over two hours old? I mean, it can only do so if Gox actually published to the blockchain, right? Which is not the real concern, right? Aren't we concerned that they are blocking withdrawals outright?

ascisco

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Quote from: theta on January 26, 2014, 09:03:55 AM

Quote from: alfabitcoin on January 25, 2014, 07:02:46 PM

Quote from: theta on January 25, 2014, 06:19:54 PM

It seems the price difference between Gox and the rest is now almost 20%, the highest I remember it. Is this an indication of the situation deteriorating? At this price differential it is even more tempting to try the arbitrage even if it means one full month per complete round-trip trade. Do people receive cash withdrawals after 3-4 weeks?

Its due people buying btc and making the price up so they can withdraw btc instead of fiat. I think its normal reaction due long withdraw waiting time.

Obviously, but absent solvency concerns, there must be a point where the delay is not an issue and the price gap should make it attractive for arbitrageurs to step in. If all transaction costs are say 5%, and there's let's say one month delay, there's potential for 15% profit per month.

If there are solvency issues arbitraging isnt going to happen. Anyone putting fiat or BTC in gox right now is literally playing russian roulette with their money. Is that worth 15%?

theta

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Quote from: alfabitcoin on January 25, 2014, 07:02:46 PM

Quote from: theta on January 25, 2014, 06:19:54 PM

It seems the price difference between Gox and the rest is now almost 20%, the highest I remember it. Is this an indication of the situation deteriorating? At this price differential it is even more tempting to try the arbitrage even if it means one full month per complete round-trip trade. Do people receive cash withdrawals after 3-4 weeks?

Its due people buying btc and making the price up so they can withdraw btc instead of fiat. I think its normal reaction due long withdraw waiting time.

Obviously, but absent solvency concerns, there must be a point where the delay is not an issue and the price gap should make it attractive for arbitrageurs to step in. If all transaction costs are say 5%, and there's let's say one month delay, there's potential for 15% profit per month.

btcash

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Why the hell did they added Moneypolo as a deposit method? Now there will be even more bank withdrawlas they won't process.
Looks more than dodgy to me.

Quote

Situation as of 16th January 2014: We are currently processing withdrawals requested 3 weeks ago.

Normaly this is updated daily. So no withdrawals peocessed since 16th January or just to lazy to update?

Quote

+1 Kraken is good for me

Agreed. Very fast withdrawals and they don't ask any anoying questions like bitstamp.

Netprofits

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Quote from: seldon on January 26, 2014, 07:12:12 AM

New fun with gox.. "Invalid amount, limit reached" -even though the amount was well below my daily limit and more then enough funds on the exchange. After trying random values I was able to withdraw 300€, let's see when they arrive.

I'm not happy with the delays, but could live with that. What I can't agree on is randomly cutting down the daily limit, without even showing it to me.

edit: same thing with btc withdrawals Sad

Same. First attempt, invalid amount. Now 25hrs. later, an unanswered support ticket is all I have. Nothing has made the BC. Nothing. A simple XXX BTC transfer has not arrived in my wallet but of course has been deducted from my available balance at Gox.

seldon

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New fun with gox.. "Invalid amount, limit reached" -even though the amount was well below my daily limit and more then enough funds on the exchange. After trying random values I was able to withdraw 300€, let's see when they arrive.

I'm not happy with the delays, but could live with that. What I can't agree on is randomly cutting down the daily limit, without even showing it to me.

edit: same thing with btc withdrawals Sad

raskul

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Quote from: Alpaca Bob on January 26, 2014, 07:05:39 AM

Quote from: Nagle on January 25, 2014, 03:36:15 PM

The last two US exchanges, Tradehill and Kraken, both of which boasted about their "professionalism", turned out to be flakes.

What's wrong with Kraken? I have had no problems with them whatsoever.

+1 Kraken is good for me

Alpaca Bob

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Quote from: Nagle on January 25, 2014, 03:36:15 PM

The last two US exchanges, Tradehill and Kraken, both of which boasted about their "professionalism", turned out to be flakes.

What's wrong with Kraken? I have had no problems with them whatsoever.

7u83

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There is one question for me ...
We all know there was press about seizure of $5 million from Mt.Gox. This should be a tiny fraction of all dollars they had and may not lead to big solvency issues, even if they do "fractional reserve". However, they are in trouble. Mt.Gox stated somewhere in april 2013 they are receiving 5 to 20 million dollars a day. Where is this money if it is not seized? Are these press releases wrong about seizure of $5 million and it's much more money in the end?

Topic: MtGox withdrawal delays [Gathering] - page 201. (Read 908727 times)