Topic: MtGox withdrawal delays [Gathering] - page 244. (Read 908613 times)

US unconstitutional anti terrorism laws does not void contractual laws between parties. Report them  for fraud!! (every company can use that excuse to get an extra 3 months credit for free from their customers funds).

I was informed that they are forbidden to provide information about why my money is being held for 3 months or when will the money be released. 

All right. So, it's about 6 weeks of SEPA queue at the moment. They don't seem to be catching up. Let's hope this is as long as the queue is going to get.

holy shit...yep at least its pending...but not arrived yet

The SEPA delay is caused by high volume and the EU Payment Service Directive limiting MtGox to 3 million EUR worth of transfers within Europe each month.  PLN is included in this limit.

I got word of a GBP wire transfer from August arriving in September, btw.  I tried to make the recipient report the details here, but he hasn't.  I can understand this perfectly well.  As soon as you report good news here you are dismissed as a MtGox shill, and many people want to keep their economy private.

I'm pretty much ready to sell at a loss and get whatever I have out of Mt Gox. Every sign points to their solvency being a major issue and I personally know of another exchange that went through a similar phase before declaring bankruptcy.

It's a shame, really - when they cancel the bank transfer they don't even offer to give you back the fees they charged you when you sold the BTC - an honest business would actually do that because you'll have to buy back BTC because of their incompetence.

I even asked them to just convert my Sterling to EUR because allegedly SEPA transfers would be faster - but they can't do that even at the market rate + a fee. Then for SEPA transfers too they say it would take at least 20 days for the payment to clear.

Every currency at Mt Gox obviously has a problem - which means the company is in trouble.

There are too many variables and too much uncertainty. A business that cannot commit cannot be trusted - it's just that simple.

And sad, of course.

Pending yet?

Yup.  They punked a lot of us.  I saw it coming but still I am in for $5k (The price having doubled since I tried to use Mt. Gox as an 'exchange'.)  I just sucked it up and looked around for another service.  Started with Coinbase a few days ago, and they seem a vastly better solution for my needs anyway...in addition to seeming to be able to provide the service that they advertise.

Although I hope that Mt. Gox remains in the game it is unlikely that I'll ever be a customer of theirs going forward even if they do get healthy.  Only if they are more hopeful than any other option.  After getting reamed by some outfit it is difficult to forgive and forget and develop much of a level of confidence.

Unfortunately you are not alone in this case

I've been screwed by Mt Gox and am not happy about it. A couple of weeks ago I got verified and sold some bitcoins with the idea of getting some cash. I gave Gox my bank account number to send the dollars there. Days went by and nothing happened. Finally I contacted support. At this point I hadn't received the dollars at my bank and yet the money was no longer in my Gox account. Fortunately for me support got back to me quickly and said there was a delay. But I had asked them HOW LONG would it take for me to receive my dollars, and they didn't say. So I asked again more pointedly. They responded with THREE WEEKS! But they said that they could transfer the dollars back to my account if I wanted to, if that was too long. Yes, I told them, I want the dollars back to my account, that's too long. So now I can see the dollars I got for my bitcoin but I am no longer in the withdrawal queue. Meanwhile the value of a bitcoin has gone up up up. So the only way for me to get my funds out at this point would be to buy the bitcoins back at WAY MORE than I sold them for. I haven't done this and am hoping that at some point in the future I can transfer my dollars out in a reasonable amount of time, but I'm not holding my breath. I should have kept my bitcoin in my computer wallet and not messed with online wallets is what I think now.

Only if your name shows up on the OFAC list. Unless you are a suspected terrorist (or something similar), it shouldn't. If you are really curious you can search it your self online.

The OFAC disclaimer has nothing to do with their ongoing international wire issues.

     * Japanese Domestic Transfer - Only for Japanese residents.
     * Polish Domestic Transfer - Only for Polish residents.
     * International Wire Transfer - Please note that we are unable to accept funds coming from or going to any entity, state or country listed by the US OFAC (Office of Foreign Assets Control).  If you wish to deposit from or withdraw to one of these countries, we are sorry but you can not do so through MtGox.
     * SEPA - Only for European residents
     * Okpay - Only for deposits

From the link above updated 10/17/2013. Does this mean no transfers to the US?

Situation as of 16 October 2013: We are currently processing withdrawals requested five weeks ago. (Users with several withdrawals in the queue must take the 20 day rule above into account)

https://support.mtgox.com/entries/21649594-Withdrawals-and-Deposits

Can you please document that, or are you making it up?  I sent four withdrawals yesterday.  All four went straight out with no delays.  Amounts from 1.4 to 10 BTC, no fee.  Reports here supports this as well.  Delayed transactions are exceptions.

This is not an error, it is a feature.  Transactions which have been waiting for more than 24 hours are cancelled by a double spending transaction, and then tried again.  Read my explanation earlier in this thread.  Do you have any idea what capital control means, or was that just a fancy phrase that popped out of your head?

Are you waiting for confirmations ? or for the transaction being broadcasted?

No those are not outliers, those are the median.  And Gox's "error" of double spending the transactions is purposeful in order to delay withdraws.  Aka capital controls. The transaction fee is not the problem.

https://bitcointalksearch.org/topic/mtgox-makes-doublespend-transactions-for-btc-withdrawal-request-314901
https://bitcointalksearch.org/topic/mtgox-btc-withdrawal-stuck-316152

Median is pretty much instant.  Average delay is very low, but there are a few outliers which go to the extreme.  Sometimes days.  I have explained the bug in an earlier post in this thread.  It depends on the fee of course, like all bitcoin transactions.

On average how long time does Bitcoin cashouts take from gox? (I have been waiting about 3-4hours now)

yes, it is in FAQ article that is being updated from time to time without any notice ... I am really unhappy about how Gox handle this

It is mentioned in the FAQ on the support pages.  Isn't it linked somewhere?  It used to be.