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Topic: MtGox withdrawal delays [Gathering] - page 298. (Read 908613 times)

legendary
Activity: 1437
Merit: 1002
https://bitmynt.no
August 23, 2013, 11:34:44 AM
stop arguing. Back to topic. Did anybody had a successful withdrawal recently? Be it PLN or USD.
Also, is it true that SEPA transferts are now working? :/
Yes.  Delay for SEPA is up to two weeks, in most cases less than a week.  I also got some information from MtGox today: SEPA withdrawals are sent to the bank very early in the morning.  In practice you can expect it will be sent next business day at best.  Huge SEPA withdrawals (not to worry about unless you have trusted status) get lower priority unless the user inform MtGox in advance.
legendary
Activity: 1176
Merit: 1001
August 23, 2013, 11:28:13 AM
So, just after the 20% spread peak without any notice and/or reason mtgox/sepa starts to work again.
Seems legit, it certainly isn't any suspicious.

I will wait and see.
legendary
Activity: 2926
Merit: 1131
August 23, 2013, 11:15:47 AM
The guys i spoke with made EUR SEPA withdraws after 08-09-2013 & have already received

My last withdraw about 300€ is from 2013/08/14 and i did not get it yet.
legendary
Activity: 1316
Merit: 1000
August 23, 2013, 11:02:38 AM
Its spotty. This was from 2 days ago. 

5 weeks seem to be a short time, depending on the size of the withdraw.

05-14-2013 - 800 EUR sepa - received 05-21-2013
05-22-2013 - 500 EUR sepa - received 05-23-2013
06-01-2013 - 500 EUR sepa - received 06-04-2013
06-04-2013 - 1000 EUR sepa - received 07-30-2013
06-19-2013 - 500 EUR sepa - received 07-01-2013
06-27-2013 - 750 EUR sepa - received 08-08-2013
06-28-2013 - 750 EUR int.wire - still open
07-01-2013 - 500 EUR sepa - received 07-16-2013
08-09-2013 - 300 EUR sepa - still open

as you can see, it may take about 2 month for 1000 EUR.
my limit is 1000 EUR per day.
support giving just standard answers - no help.

https://bitcointalksearch.org/topic/m.2979247


The guys i spoke with made EUR SEPA withdraws after 08-09-2013 & have already received
full member
Activity: 238
Merit: 100
August 23, 2013, 10:54:17 AM
Its spotty. This was from 2 days ago. 

5 weeks seem to be a short time, depending on the size of the withdraw.

05-14-2013 - 800 EUR sepa - received 05-21-2013
05-22-2013 - 500 EUR sepa - received 05-23-2013
06-01-2013 - 500 EUR sepa - received 06-04-2013
06-04-2013 - 1000 EUR sepa - received 07-30-2013
06-19-2013 - 500 EUR sepa - received 07-01-2013
06-27-2013 - 750 EUR sepa - received 08-08-2013
06-28-2013 - 750 EUR int.wire - still open
07-01-2013 - 500 EUR sepa - received 07-16-2013
08-09-2013 - 300 EUR sepa - still open

as you can see, it may take about 2 month for 1000 EUR.
my limit is 1000 EUR per day.
support giving just standard answers - no help.

https://bitcointalksearch.org/topic/m.2979247
legendary
Activity: 1148
Merit: 1018
August 23, 2013, 10:51:21 AM
For the record: I requested today a SEPA withdrawal to try to do some arbitrage. It went from "pending" to "confirmed" in a few minutes. Now let's see how long it takes for it to go "processing", which should mean they sent the money.

I will report back.

EDIT: arbitrage seems working. Gox going down and Bitstamp up. Spread decreasing fast.
legendary
Activity: 1316
Merit: 1000
August 23, 2013, 10:42:25 AM
Ive spoke with 3-4 people in last 24 hours at length who have claimed fast SEPA withdraws made recently.  Maybe i can try & get them in here.

Its possible they could be lying yes but thats not my read, as for SEPA withdraws made like a month ago i have no clue if they are coming in next week.
legendary
Activity: 1437
Merit: 1002
https://bitmynt.no
August 23, 2013, 10:39:32 AM
stop arguing. Back to topic. Did anybody had a successful withdrawal recently? Be it PLN or USD.
Yes, many people are reporting successful withdrawals in various currencies.  Read a few pages back.
legendary
Activity: 1176
Merit: 1001
August 23, 2013, 10:36:59 AM
stop arguing. Back to topic. Did anybody had a successful withdrawal recently? Be it PLN or USD.
Also, is it true that SEPA transferts are now working? :/
sr. member
Activity: 298
Merit: 250
August 23, 2013, 10:23:57 AM
stop arguing. Back to topic. Did anybody had a successful withdrawal recently? Be it PLN or USD.
legendary
Activity: 1316
Merit: 1000
August 23, 2013, 09:51:35 AM

Zeroblock has some kind of agenda to get people to panic buy out of MtGox.  I doubt anyone posting in this forum section is depositing new money into MtGox until they sort their shit out... we get this.

5 million seized is basically jack shit. They clearly aren't broke else you couldn't withdraw BTC + for whatever reason fresh SEPA withdraws seem available within a week judging by reports at this point.

MtGox either sorting their shit out or dying slowly is the best thing for BTC community investment.

  

I'm simply quoting facts.  That is it.  You obviously are a super Gox fanboy even when they treat their customers like shit.

You are not simply quoting facts - you called a guy an idiot a few posts back for not agreeing on your OPINION of what a fact meant.  

Your topic a few days back was something along the lines of "gox vs bitstamp now 20% gap, the bank run has begun" < your agenda here seems to be cause a mass buy out @ gox.   If we look at FACTS the gap has closed from 20% since so you've judged this wrong.

Your opinion is not fact there is a difference.
legendary
Activity: 1316
Merit: 1000
August 23, 2013, 07:31:51 AM

Zeroblock has some kind of agenda to get people to panic buy out of MtGox.  I doubt anyone posting in this forum section is depositing new money into MtGox until they sort their shit out... we get this.

5 million seized is basically jack shit. They clearly aren't broke else you couldn't withdraw BTC + for whatever reason fresh SEPA withdraws seem available within a week judging by reports at this point.

MtGox either sorting their shit out or dying slowly is the best thing for BTC community investment.

 
legendary
Activity: 1148
Merit: 1018
August 23, 2013, 03:27:47 AM
Right now I'm not able to withdrawal my Bitcoin balance from mtgox - it says "Invalid bitcoin address, please confirm your input" - but I am 100% certian it is a valid Bitcoin address.

Yep, it happened a couple of days ago to me too. I contacted chat support, they told me to try again in a couple of hours, I tried and it worked.

Same thing happened to me - I contacted support, they asked me for a screenshot, then they told me to try again later. It worked later.

The day after they kindly contacted me to ask me if the issue was solved. MtGox is quite bipolar, for some issues they are über-irritating with that outrageous copy&paste templates, for some other issues they are extremely fast, polite and efficient.

Honestly, I hope they solve their problems with regulators, banks and whatnot. Amateurish or not, at least Gox is an honest business - we cannot say that of at least 50% of the other exchanges that have been created since 2011, most of them closed and ran with customer's money at some point.
hero member
Activity: 675
Merit: 502
August 23, 2013, 02:08:45 AM
Right now I'm not able to withdrawal my Bitcoin balance from mtgox - it says "Invalid bitcoin address, please confirm your input" - but I am 100% certian it is a valid Bitcoin address.

Yep, it happened a couple of days ago to me too. I contacted chat support, they told me to try again in a couple of hours, I tried and it worked.

Same thing happened to me - I contacted support, they asked me for a screenshot, then they told me to try again later. It worked later.
legendary
Activity: 1437
Merit: 1002
https://bitmynt.no
August 23, 2013, 01:54:31 AM
Evidently quite a bit.  And i'm guessing they've negotiated rates far lower than whats on the schedule due to the risk of keeping funds at Gox.

https://bitcointalksearch.org/topic/analysis-of-the-recent-mtgox-moves-few-very-big-orders-278643
They don't need to, so I doubt it.  That buyer wanted BTC (obviously).  If they had tried to buy the same amount of BTC on another exchange, they would have paid more due to much lower liquidity at the other exchanges.  MtGox was the cheapest exchange to use for this trade.  And please name one exchange you think it would be safer to keep two million USD on.
How about cold storage?  I don't think anyone keeps $2M on any exchange, you would be incredible stupid to leave that much cash at any one exchanges disposal.  
They won't be able to buy 2 million USD of BTC with their USD in cold storage.  Should they show up at MtGox's door in Tokyo with a couple of suitcases (or a fridge) full of dollars and buy BTC?

Large traders don't need to worry about the fee schedule.  They are in the lowest tier already, and MtGox is the only exchange where they can do large trades without moving the price too much.  It is the only exchange which they can trust a decent amount of money to as well.  Small traders may worry about the fee schedule.  The number of USD they need to trade to get a lower fee has increased quite a bit.
full member
Activity: 238
Merit: 100
August 23, 2013, 01:46:09 AM
Evidently quite a bit.  And i'm guessing they've negotiated rates far lower than whats on the schedule due to the risk of keeping funds at Gox.

https://bitcointalksearch.org/topic/analysis-of-the-recent-mtgox-moves-few-very-big-orders-278643
They don't need to, so I doubt it.  That buyer wanted BTC (obviously).  If they had tried to buy the same amount of BTC on another exchange, they would have paid more due to much lower liquidity at the other exchanges.  MtGox was the cheapest exchange to use for this trade.  And please name one exchange you think it would be safer to keep two million USD on.

How about cold storage?  I don't think anyone keeps $2M on any exchange, you would be incredible stupid to leave that much cash at any one exchanges disposal.  
erk
hero member
Activity: 826
Merit: 500
August 23, 2013, 01:25:55 AM
Interesting article:

http://www.coindesk.com/bitcoin-law-what-us-businesses-need-to-know/


Seems miners have to register with FinCEN too.

newbie
Activity: 10
Merit: 0
August 23, 2013, 01:24:48 AM
Ehm.  It's public.  Anyone can verify this by looking at the transaction volume in the various currencies, multiply and add.

It's actually not that simple, as traders with higher 30-day volumes are given discounts on the trading fees. Even a relatively small trader could get down to rates of 0.50% and larger traders, who probably make up a significant percentage of the volume, could get as low as 0.30% without too much trouble.

https://www.mtgox.com/fee-schedule

I would guess that their revenue is more in the $6-7 million range, and is potentially lower than that, depending on what percentage of the total trade volume is accounted for by the largest traders.

Evidently quite a bit.  And i'm guessing they've negotiated rates far lower than whats on the schedule due to the risk of keeping funds at Gox.

https://bitcointalksearch.org/topic/analysis-of-the-recent-mtgox-moves-few-very-big-orders-278643

Agreed on both points.

Doing an analysis like klao's, one could determine an upper bound for their revenue. Even assuming that every single trade is by a new user, those 1000 BTC trades would already put you in the 0.46% category and make a fairly large dent in their revenues.

Gox originally posted that fee schedule back in Dec 2011, so the values of those BTC figures has gone up ~40x since then. I doubt that most large traders would have been willing to trade on the same fee schedule even last year when the fiat values were in the 3-4x range, let alone now.

Anyway, I'm glad I found this thread before I started attempting arbitrage myself. But if I can find a friend with a bank account in Japan...
legendary
Activity: 1437
Merit: 1002
https://bitmynt.no
August 23, 2013, 12:58:41 AM
Evidently quite a bit.  And i'm guessing they've negotiated rates far lower than whats on the schedule due to the risk of keeping funds at Gox.

https://bitcointalksearch.org/topic/analysis-of-the-recent-mtgox-moves-few-very-big-orders-278643
They don't need to, so I doubt it.  That buyer wanted BTC (obviously).  If they had tried to buy the same amount of BTC on another exchange, they would have paid more due to much lower liquidity at the other exchanges.  MtGox was the cheapest exchange to use for this trade.  And please name one exchange you think it would be safer to keep two million USD on.
hero member
Activity: 686
Merit: 500
Ultranode
August 23, 2013, 12:21:49 AM
Any bitcoin lawyers in the hood able to comment on likelihood of Gox getting back some of their seized funds? is it even possible? They did reapply for FINCEN reg.
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