Topic: MtGox withdrawal delays [Gathering] - page 248. (Read 908613 times)
It just occurred to me that although it is doubtful that pressure purely from mainstream financial institutions and regulators could drive Mt. Gox completely out of business, it is entirely possible that large players in the Bitcoin community could by engineering various liquidity events and such. And Mt. Gox has made a lot of enemies (e.g., Peter Vessenes and the like.) Not to mention all of the players who would like a bigger piece of the pie (e.g., Bitstamp, BTCChina, Bitpay, etc, etc.)
A combined effort between mainstream financial players and larger players in the Bitcoin sphere could have a really devastating effect on Mt. Gox in spite of Mark's long built empire of liquidity (including his Smaug-like situation sitting on atop pools of BTC of questionable history like to Bitcoinica stash and God knows what else.)
Just a hypothesis to mull over...
This was a follow-up response, after I complained and made it clear I would post my experience.
"Thank you for the email. We have forwarded this to our development team. You will updated once the transaction has been completed."
I think Gox's goose is cooked just in time for the holiday season.
"Thank you for the email. We have forwarded this to our development team. You will updated once the transaction has been completed."
I think Gox's goose is cooked just in time for the holiday season.
What if the "ASIC cartel" is this anyone? They (like most players in the Bitcoin world) have a vested interest in an everlasting uptrend in the Bitcoin price.
Because they want to sell their overpriced hardware.
With increasing difficulty this gets increasingly difficult. Unless ... unless the price of Bitcoin also rises
So what if the "ASIC cartel" silently agreed to peg the market (or should I say: manipulate)?
That actually is a 'conspiracy hypothesis' worthy of critical analysis. I like it!
That's actually not a 'conspiracy hypothesis' but the knowledge available for a small group of people. Oh wait... for everybody else IT IS the 'conspiracy hypothesis'.
+1: I think there is substance to that!
Remember Deepbit? Where did they invest all their coins?
Some users are waiting for BTC withdraws under the premise of "network congestion" and "blockchain out of sync" from Gox. Very blatant form of capital controls.
...
I have converted the remaining balance in mtgox to bitcoin and submitted the withdraw request to get all of it out.
I have converted the remaining balance in mtgox to bitcoin and submitted the withdraw request to get all of it out.
I minimized my Mt. Gox account several months ago. The warning signs were starting to pop up. Hedged my bets by taking half as a wire (fail!) and moving half of the BTC away to capitalize in via different route. Not that I ever thought that a complete collapse was likely at that time (or even now, for that matter) but why take a chance?
Was the same with Bitcoinica. Some crook got 2 or 3 BTC of mine. At the time it was effectively nothing, but as the price goes up it's kinda starting to piss me off on principle. Oh well.
This was there response!!!!!!
"Thank you for the email. Few BTC withdrawals are delayed because of the multiple transactions requested at the same time causing network congestion. The transaction should eventually go through and we will update you once it is complete."
Haha, Wow... I CALL SHENANIGANS ON MTGOX! They are clearly playing games with my coins.
"Thank you for the email. Few BTC withdrawals are delayed because of the multiple transactions requested at the same time causing network congestion. The transaction should eventually go through and we will update you once it is complete."
Haha, Wow... I CALL SHENANIGANS ON MTGOX! They are clearly playing games with my coins.
But there is NO EXCUSE why bitcoin transfers is taking anything more than 30 mins.
Maybe Mt. Gox is running out of Bitcoins. Here's the Mt. Gox and BTC-E order books:
Mt. Gox order book. USD/BTC.
BTC-E order book. USD/BTC.
Bitstamp order book. USD/BTC.
Looks like a lot of money is trying to get out of Mt. Gox by buying Bitcoins and selling them on other exchanges at a big loss.
FYI, this is very concerning. Didnt realize it, but checked mtgox market depth and it's true. There already seem to be a slow run on the bank with mtgox.
Not to create panic, but i suggest anyone with money/bitcoin in mtgox to get it out for safekeeping. Right now people are still walking towards the exit, you dont want to wait until it becomes a stampede. It's pretty obvious at this rate, the bitcoins will be drained out due to mtgox inability to withdraw funds, and now even majority bitcoin withdraw is getting delayed.
I work in the financial industry for a long time, this is no different than a run on a fund, you dont want to be the last one in it trying to get out, always be the first. Yes it may not come to that, but why take the risk by leaving your bitcoins in mtgox?
I have converted the remaining balance in mtgox to bitcoin and submitted the withdraw request to get all of it out.
I just attempted a btc transaction out of gox. I am getting worried, doesnt show on the ledger yet. Is this interesting to anyone besides my accountant?
Quote
So what if the "ASIC cartel" silently agreed to peg the market (or should I say: manipulate)?
They are usually barely able to actually produce and ship their hardware, let alone team up for a conspirancy..."Stabilizing" the price is not that complicated. And "team up for conspiracy"? Well, look at this photo ...
From left to right:
- Sam of KNC
- Josh of BFL
- random cheater
- Yifu of AVALON
What if the "ASIC cartel" is this anyone? They (like most players in the Bitcoin world) have a vested interest in an everlasting uptrend in the Bitcoin price.
Because they want to sell their overpriced hardware.
With increasing difficulty this gets increasingly difficult. Unless ... unless the price of Bitcoin also rises
So what if the "ASIC cartel" silently agreed to peg the market (or should I say: manipulate)?
They are usually barely able to actually produce and ship their hardware, let alone team up for a conspirancy... Because they want to sell their overpriced hardware.
With increasing difficulty this gets increasingly difficult. Unless ... unless the price of Bitcoin also rises
So what if the "ASIC cartel" silently agreed to peg the market (or should I say: manipulate)?
10k-ish is about as low as I've seen in maybe forever by my recollection of things.
Bitstamp had 10k asks as well not long ago. Far from that now. When the price goes up, it is normally because the asks are being bought so there are less left to buy. I assumed most people knew this.. 21k BTC left in asks on MtGox now. Total.I dunno where you are seeing the 21k asks on Mt. Gox. As I type this, that figure seems like a decent estimate for all visibly available BTC on all the exchanges combine. At least for anything roughly within 100% of current spot.
10k-ish is about as low as I've seen in maybe forever by my recollection of things.
Bitstamp had 10k asks as well not long ago. Far from that now. When the price goes up, it is normally because the asks are being bought so there are less left to buy. I assumed most people knew this.. 21k BTC left in asks on MtGox now. Total.It is probably as or more accurate to say that as the asks disappear because they are gobbled up, the price goes goes up. Just sayin'.
I dunno where you are seeing the 21k asks on Mt. Gox. As I type this, that figure seems like a decent estimate for all visibly available BTC on all the exchanges combine. At least for anything roughly within 100% of current spot.
If I was a betting man, I'd bet that some of the larger pac-man types are taking advantage of the fact that most normal humans are soundly asleep and thus not in a state of consciousness required to pull their asks before it's to late.
But there is NO EXCUSE why bitcoin transfers is taking anything more than 30 mins.
Maybe Mt. Gox is running out of Bitcoins. Here's the Mt. Gox and BTC-E order books[...]
Looks like a lot of money is trying to get out of Mt. Gox by buying Bitcoins and selling them on other exchanges at a big loss.
Conspiracy theories aside, I have cancelled my larger wire request but still have a small one for about $100 usd from mid september pending, figured it was worth the $100 to see if\when it gets released (or paroled?).They cancelled and credited me the money very fast, so that is something. Not sure if anyone cares but because I believe I am the center of the universe, and I dont have that much else going on, I will post any updates as they happen.
Regards.
Regards.
What if the "ASIC cartel" is this anyone? They (like most players in the Bitcoin world) have a vested interest in an everlasting uptrend in the Bitcoin price.
Because they want to sell their overpriced hardware.
With increasing difficulty this gets increasingly difficult. Unless ... unless the price of Bitcoin also rises
So what if the "ASIC cartel" silently agreed to peg the market (or should I say: manipulate)?
That actually is a 'conspiracy hypothesis' worthy of critical analysis. I like it!
That's actually not a 'conspiracy hypothesis' but the knowledge available for a small group of people. Oh wait... for everybody else IT IS the 'conspiracy hypothesis'.
What if the "ASIC cartel" is this anyone? They (like most players in the Bitcoin world) have a vested interest in an everlasting uptrend in the Bitcoin price.
Because they want to sell their overpriced hardware.
With increasing difficulty this gets increasingly difficult. Unless ... unless the price of Bitcoin also rises
So what if the "ASIC cartel" silently agreed to peg the market (or should I say: manipulate)?
That actually is a 'conspiracy hypothesis' worthy of critical analysis. I like it!
@sturle, the MtGox master shill:
My key point is:
Why would anyone transfer USD, EUR, JPY, ... to MtGox when you can buy Bitcoins at any other exchange for ~10% less?
My key point is:
Why would anyone transfer USD, EUR, JPY, ... to MtGox when you can buy Bitcoins at any other exchange for ~10% less?
What if the "ASIC cartel" is this anyone? They (like most players in the Bitcoin world) have a vested interest in an everlasting uptrend in the Bitcoin price.
Because they want to sell their overpriced hardware.
With increasing difficulty this gets increasingly difficult. Unless ... unless the price of Bitcoin also rises
So what if the "ASIC cartel" silently agreed to peg the market (or should I say: manipulate)?
But there is NO EXCUSE why bitcoin transfers is taking anything more than 30 mins.
Maybe Mt. Gox is running out of Bitcoins. Here's the Mt. Gox and BTC-E order books[...]
Looks like a lot of money is trying to get out of Mt. Gox by buying Bitcoins and selling them on other exchanges at a big loss.
10k-ish is about as low as I've seen in maybe forever by my recollection of things.
Not that it matters much. The amount that users don't have on the block combined with the amount in any dark pools (If Gox runs them currently) combined with their own stash (which I would guess is upwards of 100k) likely dwarfs what shows up on their public feed.
But there is NO EXCUSE why bitcoin transfers is taking anything more than 30 mins.
Maybe Mt. Gox is running out of Bitcoins. Here's the Mt. Gox and BTC-E order books[...]
Looks like a lot of money is trying to get out of Mt. Gox by buying Bitcoins and selling them on other exchanges at a big loss.
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