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Topic: MtGox withdrawal delays [Gathering] - page 263. (Read 908613 times)

legendary
Activity: 966
Merit: 1001
Energy is Wealth
October 07, 2013, 04:08:13 PM
There is only a slight withdrawal delay because of MtGox's unorthodox opening hours. Once they change to established Business hours withdrawals will flow smooth again. Grin
hero member
Activity: 540
Merit: 500
October 07, 2013, 02:52:37 PM
I do not mind to wait 4 weeks for my SEPA payment. I would prefer to have it in 3 days off course but if it will take 4 to 6 weeks, I can live with that.

BUT at least tell me what me place in the queue is and how many days are left till it will be processed. Just like at one point when MtGox had an extreme increase of number of accounts they needed to verify. During that period they would show you how many people were in line before you in the verification queue and you could see that number go down every day, which was good to see.

If they would do the same with the withdrawal queue it would be great. A company just has to be honest and transparent to its customers, with good news and bad news.
hero member
Activity: 504
Merit: 500
October 07, 2013, 01:59:05 PM
That's actually me asking that...

I wouldn't trust what she's saying, a few weeks back i pmed Karpeles himself and he said the same thing, we can expect an announcement with good news soon. That was somewhere in the beginning of september i think.
legendary
Activity: 1437
Merit: 1002
https://bitmynt.no
October 07, 2013, 01:53:15 PM
Anyone with a September SEPA withdrawal that already received the money?
Yes, my 02-sep arrived today, it went to pending last friday. Some k's.
Ouch.  This means SEPA delay is approaching May levels at five weeks or more.  There was very high EUR volume on MtGox on August 27th, 30th and 31st, and higher than normal EUR volume the entire first week of September.  Looks like a lot of this resulted in withdrawals.  September 9th and 11th had high EUR volume as well.  The rest of September is more normal.  I hope the situation improves.  Unfortunately I probably have to wait another two weeks for my September 11th withdrawal. :-(

There will be an announcement with good news from MtGox this month.  I don't think people will be amused unless the good news are about withdrawals.  From #mtgox:

Code:
--- Day changed Fri Oct 04 2013
14:13 < ardana555> so when can we expect some new news on mtgox?
14:36 < marionxd> ardana555: During this month
14:36 < ardana555> marionxd: how do you know for sure?
14:48 < marionxd> ardana555: because I am working at mtgox maybe
14:49 < ardana555> marionxd: what information will there be in the announcement?
14:49 <@marionxd> ardana555: You will see in the press release :0
14:49 <@marionxd> But good news ^^
newbie
Activity: 51
Merit: 0
October 07, 2013, 01:12:01 PM
Anyone with a September SEPA withdrawal that already received the money?

Yes, my 02-sep arrived today, it went to pending last friday. Some k's.
full member
Activity: 153
Merit: 100
October 07, 2013, 12:45:30 PM
If Sturle is a shill he's got to be the most skilled person involved with the whole of MtGox. By far.

He's a bit of an apologist imo, but I appreciate his efforts nonetheless.
legendary
Activity: 1437
Merit: 1002
https://bitmynt.no
October 07, 2013, 12:32:55 PM
Someone above posted 8/31 -> 10/2 transfer, mine from 2013/08/25 17:19:13 still hasn't posted.
SEPA or international wire?  If it is a standard international wire, it is going to be slow.  AFAIK there are still some left from June.
newbie
Activity: 40
Merit: 0
October 07, 2013, 11:31:09 AM
Sturle, you should change your board name to Shill.

http://en.wikipedia.org/wiki/Shill
legendary
Activity: 1437
Merit: 1002
https://bitmynt.no
October 07, 2013, 11:15:08 AM
Why can't MtGox just work together with multiple banks in Europe to speed up the withdrawal process?

Work together with one major bank in each of the top 20 countries they do business with, problem solved.
Because, and I think you already know this, banks are not very happy with Bitcoin.  They had a hard time finding the Poilish bank after getting thrown out of France.  (Not thrown out, but the bank imposed impossible limits and prices.)

MtGox are licensing as a proper financial institutuion in Europe.  When this work is completed, everything will become much easier.  This licensing is very expensive and takes six months to  a year.  They couldn't afford it until this year.
newbie
Activity: 40
Merit: 0
October 07, 2013, 10:50:02 AM
Someone above posted 8/31 -> 10/2 transfer, mine from 2013/08/25 17:19:13 still hasn't posted.
hero member
Activity: 882
Merit: 501
Ching-Chang;Ding-Dong
October 07, 2013, 08:17:09 AM
I see no reason why Tux would say that they don't have that software if in reality they did.

Do agree however that its definately a scam.
hero member
Activity: 531
Merit: 505
October 07, 2013, 08:05:25 AM
Do not trust anyone using COMIC SANS ..
legendary
Activity: 1148
Merit: 1018
October 07, 2013, 07:31:31 AM
Don't worry guys, is just the old financial system unable to keep up with the thriving BTC economy... They just can't handle Gox's volume, you know... Hundreds of thousands of customers and millions $ coming in and out, the bank able to handle smoothly such a HUGE business volume is yet to be born!

/irony off

hero member
Activity: 540
Merit: 500
October 07, 2013, 06:04:30 AM
Why can't MtGox just work together with multiple banks in Europe to speed up the withdrawal process?

Work together with one major bank in each of the top 20 countries they do business with, problem solved.
full member
Activity: 153
Merit: 100
October 07, 2013, 05:39:08 AM
Right. If Mt. Gox 1) had the money, and 2) wanted to pay it out, they could find a way. It really isn't hard to send money if you have it.
In a legal way which scales to 600000 customers?  How?

Seems like they can process 10 wires a day right now.  How many checks could Mark sign and mail in a day?  Wouldn't scale to 600k customers, but would certainly help to get things caught up.

Got some interesting video for you all

Possible solution for Gox withdrawals Wink


http://www.youtube.com/watch?v=mvT8fCUmU3Q&feature=youtu.be






http://i221.photobucket.com/albums/dd64/Magerum/SeemsLegit1_zpseb2e59b9.gif
legendary
Activity: 1204
Merit: 1002
October 07, 2013, 03:37:57 AM
I see some still defend MtGox and believe everything will be alright. IT'S BEEN MONTHS.
Right. Continual foot-dragging on withdrawals is usually associated with a business in trouble, or the end stages of a Ponzi scheme.

It's important to get complaints against Mt. Gox filed in Japan, so that should Karpeles try to leave the country, alarms will go off. 
hero member
Activity: 1162
Merit: 500
October 07, 2013, 01:11:39 AM
Anyone with a September SEPA withdrawal that already received the money?
N12
donator
Activity: 1610
Merit: 1010
October 02, 2013, 06:49:53 PM
And the spread between MtGox and Bitstamp was momentarily less than 1% a few hours ago: [20:49:28] mtgox premium over bitstamp is currently 0.895161290323 %.

Prices are very volatile right now because Silk Road was taken down by the feds.
legendary
Activity: 1204
Merit: 1002
October 02, 2013, 06:40:12 PM
The spread between Mt. Gox ($122) and BTC-E ($98.5) is now above 23%.
legendary
Activity: 1437
Merit: 1002
https://bitmynt.no
October 02, 2013, 06:27:58 PM
Terribly stupid time to lose your patience.  Your money are right around the corner, and you will lose at least 13% of the value by this method (including fees).  But please don't let me stop you or give you second thoughts about this.  Your loss will become my profit. Grin
As it seems I have done the right thing: Withdraw my Bitcoins from MtGox, take the 15% hit - and sell at Bitstamp. The money is already in my bank account.

All happened before Bitcoin tanked Grin

What about your profit loss?
All my manual trading is for arbitrage.  If you manage to lose money on arbitrage trading, you are doing it horribly wrong!  I have a bot on MtGox as well.  It has been making very good profit riding the waves today. :-)

I have a long position as well, but I am not doing any minute to minute profit calculations on that one.  When I got into Bitcoin in August 2010, I mined and saved some of my mined blocks in what I call my pension fund.  Probably spent a kWh or two on each block on a computer which used to search for Mersenne primes, which means I actually saved money because mining consumes less energy (no FP ops).  I expect to sell those with profit in 30 years or so, and if Bitcoin falls to 0 I have lost nothing but the microscopic chance of finding a Mersenne prime on my computer. :-)
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