Topic: MtGox withdrawal delays [Gathering] - page 202. (Read 908613 times)

Hey guys,
I have verified account on Gox. Can someone sum it up for me please? So:

international wire transfers - don't even try it? Will it never come?
Sepa transfer to Euro accounts - will they be delivered? When do you think
Bitcoin withdrawals - are they possible for verified users? How long they take?

Thanks a lot

Hurrah!

My next step from here was to have Mt. Gox wire all the money in my fiat account which I did immediately after being verified.  That was half a year ago and I've not seen my funds yet.

I hope you have better results than I.  I'm not holding my breath if you are from the Middle East.

Good theory...or was a good theory months ago...

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.

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?

Thanks for the link.

Im waiting on 32.6 Bitcoins. I withdrew them from Gox about 14 hours ago. Still waiting...

I just checked my address and I am not too sure what I am looking at exactly but it does look like some sort of doubling up of the transaction (a figure twice the amount of my available/transferred bitcoins appears) Also it shows LT

http://skanner.net/MtGox/getaddys.php?txid=f42ad37a8cc05d0f80aaa16126890194352e91be939afbdb2e296c0acbd99f9a

I hope the other address that is listed (as well as mine) is a Gox one...I checked it and the bitcoins haven't gone to it.

Ive sent them a support request.

Lots of delayed transactions which are showed "LT" there, actually have spent outputs if you try to push them on blockchain.info

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.

withdrew 1btc today, showed up immediately and got into the next block

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

It's really pretty simple. To be a Bitcoin exchange or market maker in the US, you should be a SEC registered broker/dealer. There's a lot of "oh, Bitcoin is different and doesn't need to be regulated" talk on here. By now, it should be obvious why broker/dealers are regulated - otherwise, there's a huge temptation to take the money and run, which over half of Bitcoin exchanges have done. It's not clear that it's absolutely necessary under US law to be a broker/dealer to be a Bitcoin dealer. What is clear that if you are an SEC registered broker/dealer, there's no problem. There are even advantages over being registered with the SEC - no need for state-level money transfer registration.

The problem, of course, is that most of the people doing Bitcoin exchanges don't have the training or the money to start a brokerage firm. It's not just paperwork. There are exams, audits, financial requirements, insurance, background checks... That's what you have to do to handle other people's money.

Eventually, if Bitcoin stays around, somebody who is already a broker-dealer will start dealing in it. Then there will be a way to buy and sell Bitcoins without all these delays, excuses, and losses.

Incidentally, as for the Know Your Customer and Anti-Money Laundering requirements, with a real broker, you take care of that when you open an account.  You never get told you can't withdraw your money. If a legit US broker did that, they'd be in big trouble. Some sleazy brokers dealing in Pink Sheets stocks have tried that on occasion. Some of them now have Federal prisoner numbers.

so... 11 days from now you should be verified...
also... after verification, I've entered my bank info... and guess what... can't cashout because "BANK (verifying)"

in the time it's taken mtgox to get me on the system, i've registered, verified and cashed out from kraken. I'd rather have some funds sooner than wait (gawdonlyknowshowlong) for an extra few pence. Unless you are trading whale-like volumes, the difference in BTC price doesn't actually make a huge difference.

Waiting for 30 BTC withdrawal from Mtgox for 48 hours, they're not responding to my ticket so far...

i like the high prices on gox because EUR is also 20% higher than on other EUR Exchanges.

I can get 20% profit each (1-6 weeks / SEPA) without any risk. Never had problems.

So another page of posts but no new info 
To sum things up, SWIFT is not being processed at all unless you take 5% fee/haircut even then it takes few? months (USD and all currencies GBP etc...?)
99% of BTC withdrawals work on time the other 1% might take a day but they are being processed
SEPA is still 3 weeks? (any updates on this?)
JPY went from few days to few weeks now as well? (any updates on this would be appreciated)

The problem is lack of competition.  Should a reputable exchange with good customer service (or at least somewhat good customer service) pop up in the US, I'm sure many users would jump ship in a heartbeat... and not just from mt gox but from just about every other exchange.  This may be the greatest opportunity for a reputable wall street investment bank or other large, reputable company with the resources to tap into a wide open market where users would flock in droves. 

Most likely the only thing holding them back is the uncertain regulatory environment, with precedence being when the government shut down mt gox's subsidiary mutum sigiliam on a technicality and confiscated all assets. 

Opening a reputable US exchange would be the business opportunity of a lifetime.

For BTC withdrawals, I don't think it is intentional. Though there are no technical limitation once they send the transaction to the network, there seems to be technical issues and financial issues within them. Apart from exchange, if we consider it as wallet, they could net the transaction or hold for cost saving, verification purpose or so, however it is not going straight through due to their internal scheme. Once this kind of congestion happens, the situation is getting worse dramatically under 24-7 operation.

If no change is going to come from MtGox in the next few days i do believe we are going DOWN!!!!!!

i agree with you that is seriously BAD news!!!

Someone is playing with OUR money.....

that is seriously bad news where I am concerned, i already have a £1000 / 24hr limit... if it is the case they will be making this £1000 / 20days...
I can't use MtGox for my business sales in BTC, and it will only be worth to me, the coins I mine.
beer money

UPDATE about Withdrawals on MtGox.

I have a reply from the Support team (AFTER 3 days! i don't know if this is good or not... i must be lucky or something with what i read from other people)
saying that as of 25th January each client has the option for 1 withdrawal each 20 days estimate!!!!!!!

What is going on people? Does the MtGox holding OUR funds (our btc and money)? ? ?

Can you imaging withdrawing 18.000€ ... suppose you have the limit of 1.000 and 20 days for each you will need about 14 months to have your money !!!


and of course if the situation stays as of 25th ..... if things for wrong what's next? you loose your money?

This i CRAZY!!!!

I didn't imply anything, my friend. I was just stating that I saw a delay, however... the transaction ID i was given when I initiated the withdrawal does not match the transaction ID of the actual withdrawal. and the BTC was only sent to my wallet after I sent them an email (which, as you know, will most likely still be sitting in a 3 week queue)

I just think they need more employees to handle the workload, is all.