Topic: MtGox withdrawal delays [Gathering] - page 238. (Read 908613 times)

Agreed. Also, in spite of a poor record on this in the past, Gox is now easily the fastest to execute trades, particularly when things get busy.

As far as the upstarts go, Kraken has a damn sexy API, although no streaming stuff yet.

If it's not in EUR, PLN, or JPY, then it won't be going out anytime soon unless you pay the extra 5% to withdraw, which also currently have a backlog.

I'm still waiting for my four figure withdrawal from July. Their backlog doesn't seem to be moving very quickly.

Must not be doing so well on that short.... WU has had a nice stable uptrend for some time now.

Say what you want about Gox, but the other markets are terrible. The APIs give the impression as they have been designed by my 12 year old nephew.

That would be amazing!

I've been short NYSE:WU for a while as bitcoin eats away at their business.  If they make any major bitcoin purchase (MtGox would be ideal for them) I go long instead.  WU would give Gox all the MTL licenses it could ever want and compliance in most major economies worldwide.  In return, Gox would give WU a future.  Together they would be like localbitcoins on steroids, with branches globally and in most currencies.
WU also has the legal muscle to renegotiate the fees owed in the different jurisdictions and has been doing major investment in compliance and compliance workflow automations.  It is almost as if they are engaged to be married already.

Damn good idea actually.  I gotta wonder if it is not to late for one or both of them already though.

Western Union should buy MtGox.
It would save both companies.
Both will die if they do nothing.

http://www.reddit.com/r/BitcoinMarkets/comments/1pnc2a/mt_gox_price_spread_discussion/

report from a USD withdrawal in this thread?

It occurred to me the other day when I was talking to someone about it that it is quite possible that Karpeles is simply not a person with a lot of potential for handling various kinds of loads.  He might simply be swamped and confused and floundering about quite a bit.  That would explain some of the observations that various people have made.

My basic assumption was that Mark was a clever and capable guy since he landed at the top of a fairly powerful organization.  But when one thinks about it, when he obtained Mt. Gox from the original creator it was nothing near what it later became.  People from a variety of backgrounds and with a variety of capabilities could have decided that a fantasy card trading outfit who adapted their software to deal with a new and tiny crypto-currency was worth obtaining.  Especially if they had some spare cash kicking around or for some reason to need to move some which is why a lot of the early adopters probably got into things.

Someone important told me that the lawyers he chose are not the best ones in the field, yet he refused any external offer for help.

They stopped sending money, it was just annoying and a major inconvenience anyway.
They will now dedicate all of their time on receiving cash, although that doesnt happen very often.

Anyone with a new witdraw processed??

Wich date??

 

If this hypothesis is the correct one, then inaction is the most appropriate course of action for me.  This was my best hypothesis before I risked the money I did with them, and it factored into a decision about how much money to put at risk here.  I would not have done so if I needed to see results within a certain time-frame.

To reiterate my posture:

 - having loss of access to a non-trivial sum of $$$ gives me a legitimate rational to attack the problems at their root (which I feel is probably the established financial corporations and the regulators they sponsor.)

 - the $5M (or $10M) of formerly Mt. Gox controlled value is now sitting in a pool that Mt. Gox cannot touch should they implode or decide to run.  I have a better chance of recouping my losses out of this pool since it is held by the the U.S. govt and I am a U.S. citizen.

 - It is perfectly possible that Mt. Gox figures out a way to overcome their issues eventually and the wire lands in my bank account someday with little fan-fare.  Mt. Gox's best bet is to agree to be a pliant honey-pot in exchange for return of their funds, and I think there is a fair chance that they will be offered that option and accept it.

The greatest good would be possible by perusing the first bullet point, but absent some cooperation from Mt. Gox, it is not very practical to do so.

Enough with the bullshit. Nobody has reported that a US bank has refused an incoming wire transfer from Mt. Gox. If there's a problem on the bank side (which is questionable; Mt. Gox has never offered any concrete proof of this) it's at the sending end in Japan.

Mt. Gox doesn't seem to be having any trouble getting wire transfers from the US. If some limits were being applied at the US end, there would be trouble sending to Mt. Gox from the US.

Six weeks.  You need to go below 400 EUR to get it significantly faster.

USD have to pass through US banks, which aren't very cooperative.  I think there are still withdrawals left dating back to mid June.

For other currencies in general the queue is shorter than the USD queue, but I don't know exactly how long.

Having found the strongest hypothesis, what are the actions to derive (otherwise the search process is just
a big waste of time)?

So what is now the expected withdrawal time for:

SEPA >1000EUR
SEPA <1000EUR
Int Wire >1000USD
Int Wire <1000USD
Int Wire JPY

As annoyed as I am with Mt. Gox, that still strikes me as the strongest hypothesis.  The reason is still that it would make little sense for Mt. Gox to fuck up their reputation and marketshare when they had a damn good and very profitable thing going.