Topic: MtGox withdrawal delays [Gathering] - page 212. (Read 908740 times)

Last I remember Bitstamp was also in the same basic category.  It kept me away from both (as did the stunt of locking up peoples' BTC after posting a 'warning' on Facebook.)

Have things changed?  Is there now an actual name behind Bitstamp (and/or whatever the U.K. based shell company thingy is?)

The main thing which would give me some confidence that it is within realistic expectation that the Bitstamp crew could be hunted down is that Coinbase apparently uses them.  They've probably got enough muscle to get at least their own asses made whole if Bitstamp choose to make the 'run like hell' play.

Never tired of fighting FUD spreading.

Thanks.  I think everyone who follow this thread understand the situation by now, so why don't you go ahead and profit from it instead of complaining?  It doesn't require a genius to understand how, and it is almost free of any risk.  You don't need a Japanese bank account or the possibility of making fiat withdrawals.  It is so easy you could do it by hand, and when you get tired of that, you will write a bot to do the tedious work.  It is more accurate as well.  Of course it is possible to avoid making money by staying away from certain exchanges, and I really don't understand why some people seem to be vigorously opposed to making a profit.  (I must admit to staying completely away from BTC-E myself, but that's mostly because I don't trust my money, and especially not bitcoin, to people hiding their identity.)

The bot I wrote in two hours makes much more money than I do in my normal day job, so I am quitting my day job next month.  I have ideas for a few more advanced bots using some of the same algorithms in other ways, but mostly I will try to make a living out of my exchange operations.  That would require more time than I have when working full time in a normal job.

Glad to see your still here fighting hard for gox

And congratulations on your profits.

Funny you mention fees.  The volume on both BTC-E and Bitstamp grew just after MtGox announced reduced fees.

I've mentioned the advantages of MtGox many times.  Those advantages have made it possible for me to turn 400 NOK into millions in less than two years.  It couldn't have been done on any other exchange due to missing features.  Don't forget Bitstamp and BTC-E are mostly gaining from panicing USSAnians.  There have been multiple panics at Bitstamp and BTC-E calmed by arbitraging bots kicking off and making the price bounce when the difference got interesting.  The panics and bounces add to their volume of course.

There are 39 million USD worth of bids at MtGox now.  When you started calling them a clowncar exchange there were 12 millions in bids.  Not a sign of a dying exchange, is it?  Every business day about 1.1 million USD worth of fiat currencies leaves MtGox via bank transfers.  MtGox would have been empty long ago unless people deposited even more.

Still selling dedicated API feeds and delays in your "engine"?

Japan is completely subjugated.  When we say 'jump', they say 'how high?' (and say it in English.)  We can station marines anywhere we like and they can go off-base and rape 12 year old girls an the Japanese can do nothing about it.  Mt. Gox could be shut down, Mark sent to Gitmo, and all of their assets seized if we wished it so.  Would take a matter of hours.  Of course it would cost some political capital so it would have to be worth doing.  But it's certainly possible that it would be worth doing in times of economic crisis.

That was in LOListan.  Land of the constantly watched.  Where MtGox is considered a serious threat to homeland security.  For now MtGox only operate in civilized parts of the world.  You may get your own funds seized if you are in the USSA, of course.  They have laws there, but that's not something the government take seriously.

it certainly is not 0 risk with MtGox. They have already had funds sized multiple times, don't think for a second it can't happen again!

Coins have been cheap on MtGox as well on several occations, which means I have been able to buy cheaper on MtGox than on other exchanges.  Cheap means at a much lower price than I am able to sell for.  This is by no means a MtGox centric view of anyting.  If I can buy coins cheap at MtGox, and sell at a profit on other exchanges, then MtGox users are selling the cheap coins.

Make YOU laugh? 

Mutum Sigillum's account was closed because the DHS in the USSA decided it was a threat against the country's homeland security!  Yes, it makes me laugh, but for a completely different reason than you.  MtGox operates legally in Japan, where it is located, and in the civilized parts of the world.

A charting service like this would be useless.  If you had been reading this thread, you would know the time depends on a whole lot of factors.  Expected transfer times are detailed on MtGox's support pages under deposits and withdrawals.  The average time is probably very short due to the speed of Japanese domestic transfer.

When Gox does sort out its sh&%, if it ever does, we will know it quickly because the price gap between it and the other exchanges will quickly disappear.  When and if the withdrawal time lines move in line with other exchanges, how long do you think it will take the price to follow?
I give it a day or two a most before the spread disappears.

Reading some of the other posts on this page makes me wish I lived in Japan and had a Japanese bank account so I could try and take advantage of this arbitrage opportunity.
Living outside of Japan I wouldn't touch this exchange with a 10 foot pole.

Yep, finally a good opportunity for EUR users again.  Japanese banks have been closed for a whole week for the Japanese New Year celebrations.  I expect the difference to decrease quite fast during next week, since it has become possible to move JPY again.

The delay is 3-4 weeks, not one month or more.  And arbitrage is 0 risk by definition.  If you manage to make it risky, you are doing it wrong.  The delay limits how often you can get your 10% or more profit, of course.  You can easily make 3000 EUR or more on arbitrage every month using normal SEPA transfer, which means you can make a living just by doing arbitrage.  Japanese users can make a fortune.  Don't quit your job yet, however.  When Moneypolo withdrawals are enabled, I expect the prices to become more in sync again.

When I can buy from you 12% cheaper than I sell for on MtGox, you are selling cheap.  The situation has been opposite on several occations since June 2013.  It has taken a while, sometimes more than 12 hours, for other exchanges to get back in line after large dumps on MtGox.  For arbitragers with fiat reserves on MtGox, this means you can arbitrage in the opposite direction and hold to do another round when MtGox bounces back.

The only exchange where I can sell my BTC and get my money within a day is my own, btw.

It is obvious that when he mentioned people selling coins "Cheap" he has the mindset that MTGOX is the center of the Bitcoin universe and everything else including other exchanges' prices should revolve around MTGOX's prices.

This is the where the kool-aid drinking is very apparent.

LOL your justification of how MTGOX is "legit" as one might put it based on your obviously biased view of the business practices of GOX is quite humorous.

We all know why the price of Bitcion on MTGOX is higher. It has a lot to do with that word LIQUIDITY.

"And it operates legally..."....lol is that why MTGOX's dwolla account was siezed and frozen? Please don't make me laugh.

Do you folks have a public charting of the average time it takes users to get their money into their bank account from the time the wire is initiated to the time it posts into their accounts?

 This would be very helpful data. But of course transparency with GOX is its strong point right?

I'd be really surprised if everyone paid the 'emergency fee' to get service in a timely manner.

I'll bet a dollar to a donut that certain people get decent service and a heads-up about upcoming events such that they can operate a very lucrative set of operations.  Sturle would be high on my list of suspects since it would explain his activity here.

If it is actually true that there is a limit to the amount of fiat that Mt. Gox can egress then Mt. Gox is certainly screwing people deep in the queue.  Like me.  If not, they are screwing us even worse.

Anyway it's just the free market at work so I have no real complaints...and I'm not even a Libertarian!  That's what we all want after all, right?  If an opportunity to extract some revenge comes along and I've got nothing better to do, I'll certainly jump on it.  Particularly if I can make a dime doing so.  Fair is fair.

I too am only verified. Same reason. I have ben waiting for 5-6 weeks for my withdrawal in NOK. The answer is that they have registered it, but they are still processing the withdrawals. Think they do it manually these days.

139 pages and 9 months later, Emptygox is continuing its slow, slow death.

It is now, including all of its non-USD currencies, the third largest Bitcoin exchange (excluding Huobi): http://bitcoinity.org/markets/list?currency=ALL&span=7d

Either they give people their money back or they will eventually have to close up shop.

I have no idea if it is normal or not, but you usually have to ask support for limit increases.  Both fiat and BTC.  This was written in the email I got when I verified.  Didn't you get one?

I have kept my own daily BTC withdrawal limit intentionally low in case someone try to rob me.  They may get my password and my Yubikey, but their outcome will still be limited by my daily limit.

So my account has finally been verified...took almost 2 months.

Question: I'm now verified but my BTC withdrawal limit is still 0? is this normal?

good luck