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Topic: MtGox withdrawal delays [Gathering] - page 296. (Read 908613 times)

sturle

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Quote from: BitCoinNutJob on August 24, 2013, 03:51:06 PM

Don't forget when MtGox lost it's first bank in France. In the case that followed MtGox won a very important victory for Bitcoin in Europe: Bitcoin isn't an e-currency. If it was, it would be strongly regulated. Fortunately no money were lost, but MtGox had to find another bank. This wasn't easy.

Intersango have had their share of problems as well. They got their accounts in the UK closed. I don't know if Intersango got their money back yet, or even a list of the most recent deposits. Intersango found a new bank in Poland, which is the same bank MtGox is using after getting a tip from Intersango. One thing is certain: There are not many Bitcoin friendly banks around.

BitCoinNutJob

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let me get this straight zeroblock is now doubting the troubles of setting up banking connections with bitcoin business? what a troll.

check out buttercoin's troubles

http://www.youtube.com/watch?v=ySTnHWGjdj8

check out the troubles of a guy who was trying to set up a UK bitcoin exchange

http://forumserver.twoplustwo.com/30/business-finance-investing/bitcoins-digital-currency-1011408/index509.html#post39813329

I dont know how exactly bitstamp are able to provide fast withdraws but its probably "dodgy"..... & BTC-e dont need any verification details, wouldn't be surprised if US customers are blocked from these 2 sites within months.

You have all the facts & no idea how to process them zeroblock.

sturle

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Quote from: ?? on ??

Quote from: sturle on August 24, 2013, 01:40:36 PM

Quote from: CompNsci on August 24, 2013, 12:26:43 PM

Quote from: sturle on August 23, 2013, 11:59:55 AM

Page 50 of this thread iirc..

I see a report of a USD withdrawal there, but no date given.

A USD withdraw processed any time after July is impossible, i'd like to see you confirm that date.

August 20th 2013. There are many conformations of USD withdrawals after July. Why do you think it is impossible to wire money to the USSA after July? When I buy bitcoins from people in the USSA, I send the money through a bank. This is OK, because banks are licensed money transmitters.

Quote from: MagicalTux on March 28, 2013, 07:17:53 AM

In Japan we discussed with the FSA ( http://www.fsa.go.jp/ ) and were told that our activity is fine as it is now. We are also working with authorities in Europe and US to ensure our activity is in line with local regulations.

Bullshit.

Why do you think this is bullshit? They had done a few changes by then, on request from regulators. Changes regarding AML requirements and discontinuation of redeemable codes (another popular withdrawal method I had forgotten about). I assume this means they had actually talked to them. This DHS seizure due to money transmitting is a bit far fetched at best. MtGox were using Dwolla and banks as money transmitters in the USSA, and their only mistake was to use an account owned by a different company ad an intermediate when transferring funds to and from Dwolla. This other company, Mutum Sigillum, were acting as money transmitter between MtGox and Dwolla. This is IMHO a detail which is easy to overlook, and the DHS certainly overreacted.

Quote from: MagicalTux on March 14, 2013, 08:02:26 AM

We are currently experiencing delays on EUR transfers of up to two weeks for larger transfers because of the daily limits imposed by our bank in Europe. We are currently negotiating larger limits with this bank and hope to be able to finally be back to regular delays by April.

Wow, those are some really long negotiations. Must be the incompetence of a large multinational bank right? Definitely not Mt.Gox.

It is a smallish bank in Poland. The large multinational banks in Europe don't want to have anything to do with Bitcoin. They are working on getting more, but this takes time. It is important to MtGox he new bank understand what they are doing. MtGox do not want to risk to have their new bank account closed or restricted.

ardana123

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Quote from: qxzn on August 24, 2013, 02:15:48 PM

Quote from: ardana123 on August 24, 2013, 06:30:09 AM

I just don't want to be there when the bitfloor scenario goes down again so i pulled out all my money this morning and sold on bitstamp. Fuck this.

OM NOM thank you panic sellers for your healthy haircuts lining my pockets

. Wish I had more fiat already in place at bitstamp to om nom some more!

lining your pockets with what i consider pocket change

funny guy

qxzn

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Quote from: ardana123 on August 24, 2013, 06:30:09 AM

I just don't want to be there when the bitfloor scenario goes down again so i pulled out all my money this morning and sold on bitstamp. Fuck this.

OM NOM thank you panic sellers for your healthy haircuts lining my pockets

. Wish I had more fiat already in place at bitstamp to om nom some more!

sturle

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Quote from: CompNsci on August 24, 2013, 12:26:43 PM

Quote from: sturle on August 23, 2013, 11:59:55 AM

Page 50 of this thread iirc..

I see a report of a USD withdrawal there, but no date given.

It was given as "today" in the citation from "yesterday" in a post from August 21st. Via some clever mathematics or a calendar, we can calculate the exact date to August 20th. No date was given for the time of withdrawal. This example only shows that USD withdrawals go through as well, even quite large ones, just very very slowly. The official number is 10 transfers per day until they either manage to either find a bank willing to do their number of wires per day, or another method to serve all the small withdrawals. International wire isn't well suited for that. A licence to transmit money in the USSA (the main problem) will probably solve the problem as well.

BitCoinNutJob

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Thank you James very big of you to share & take the time to post over here aswell, im in UK also so may test out your SEPA method.

Cheers!

JamesD

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Hi All,

I'm usually a very private person but decided to do my lates SEPA GOX Arbitrage in public as mentioned earlier in this thread (I'm also JamesD on BTC-E)

I initiated a 2500 EUR SEPA Withdrawal on the 2013/08/20 10:13:11
It has just shown in my bank account (obviously still waiting to clear) on 23 Aug 2013

It's UK Bank account in a major high street bank, funds credited in GBP obviously.

I'll update later to confirm it's cleared but thought people would like to know, yes I should probably keep this to myself and make some nice profit on arbitrage but I'm not that kinda guy

Hope this helps all, sorry it doesn't help people doing int transfers of USD.

Regards
James

CompNsci

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Quote from: sturle on August 23, 2013, 11:59:55 AM

Page 50 of this thread iirc..

I see a report of a USD withdrawal there, but no date given.

Looks like people are reporting June 17th transfer still pending. What is that now, 8 or 9 weeks. A far cry from the 2 weeks which Gox support will claim in their initial response to inquiries about this matter.

While I agree that ongoing withdrawals in other currencies argue against insolvency, this is not the behavior of a responsible business.

Serpens66

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Quote from: sturle on August 24, 2013, 06:56:04 AM

Quote from: Serpens66 on August 24, 2013, 06:12:58 AM

I think you should not spread, that SEPA transfers are solved, until you saw it with your own eyes.. And even if no one here is lying it could be the same as usual, that it's just luck which transfer is fast and which not.
Fact is that there are thousands of undone withdraws pending or "confirmed" since weeks or months. Only if these undone transfers were done, they can say "it's solved".

You have to document your claim of thousands of withdraws pending. I count a total of three recent SEPA withdrawals in this thread which have been pending for more than two weeks. Each one reeported over and over. Standard international withdrawal is very slow. We know that. There is a huge backlog from the middle of June.

I'll try a four digit SEPA withdrawal next week, and report back.

I have 5 open SEPA transfers. 3 of them about 200€, one 400€ and one of 800€. I ordered the transfers: 2013/07/30 , 2013/07/30 , 2013/07/31 ,2013/08/12 and 2013/08/14. One order from 2013/07/26 about 200€ I got after 3 weeks.

So nothing is solved for open transfers... and I doubt it's solved for new transfers, but we will see.

Edit: ah and one withdrawl about 150€ from 2013/07/23 I got after a few days.

Edit2: just because there are not many people reporting delayed transfers, u can't say there are no. Because at the moment it's "normal" and normally no one cares about it anymore.
Today I made a new SEPA transfer about 300€, I will report back, if I get them next week.

sturle

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Quote from: Serpens66 on August 24, 2013, 06:12:58 AM

sturle

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Quote from: ardana123 on August 24, 2013, 06:30:09 AM

I'm not the one spreading fud about sepa transfers not working...because they aren't, and they probably won't anymore. over 5mil seized from Gox, they're about to file for bankruptcy i bet. I just don't want to be there when the bitfloor scenario goes down again so i pulled out all my money this morning and sold on bitstamp. Fuck this.

Please tell us how seizing less than 2/3 of their profit since April this year could possibly make them bankrupt. I've heard this story many times, but nobody are willing to answer this simple question.

Since you are unwilling to contact support about your pending transfer, I'll ask them a general question on Monday. Just how many pending SEPA transfers there are > 2 weeks old. Except, of course, those which are pending due to missing user input. A common error is to choose International transsfer instead of SEPA, btw.

joesmoe2012

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Ching-Chang;Ding-Dong

I still have SEPA transfers from the last day of July Pending. And from the first week of august.

The few SEPA transfers that have gone through are really small ones, this has been explained on IRC, they are able to squeeze in alot of small ones with a couple big ones before hitting their daily limits, so that's why small ones get through quicker.

So far as USD, aside from "Emergency Wires," I haven't seen anybody receive a USD withdraw, and I've got one pending since June 17th.

BitCoinNutJob

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5 mil is nothing to the largest BTC holder in the world.

ardana123

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Quote from: sturle on August 24, 2013, 06:02:30 AM

Quote from: ardana123 on August 24, 2013, 04:54:04 AM

Sepa transfers not working either, the guy who's saying they are is a big fat fucking liar. Gox is insolvent, everyone take out your coins while you still can and sell on bitstamp to save your fiat.

Yep, all the people receiving SEPA transfers must be big fat liars, spescially fat, and certainly bigger than you.

I bet you got your money as well, and just do what's economically sound. Spread the FUD so you can make more money on arbitrage.

What did support have to say about it, btw? Written on the support pages: On a daily basis, due to missing or incomplete information we have transfers that we or our bank cannot process until we hear from our customers.

Serpens66

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Quote from: sturle on August 24, 2013, 06:02:30 AM

Quote from: ardana123 on August 24, 2013, 04:54:04 AM

Sepa transfers not working either, the guy who's saying they are is a big fat fucking liar. Gox is insolvent, everyone take out your coins while you still can and sell on bitstamp to save your fiat.

BitCoinNutJob

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Quote from: sturle on August 24, 2013, 06:02:30 AM

Quote from: ardana123 on August 24, 2013, 04:54:04 AM

Sepa transfers not working either, the guy who's saying they are is a big fat fucking liar. Gox is insolvent, everyone take out your coins while you still can and sell on bitstamp to save your fiat.

sturle

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Quote from: ardana123 on August 24, 2013, 04:54:04 AM

Sepa transfers not working either, the guy who's saying they are is a big fat fucking liar. Gox is insolvent, everyone take out your coins while you still can and sell on bitstamp to save your fiat.

sturle

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