MtGox withdrawal delays [Gathering] - page 300.

sturle

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Quote from: doobeedoo on August 21, 2013, 06:53:51 PM

Quote from: sturle on August 21, 2013, 08:50:45 AM

Quote from: doobeedoo on August 21, 2013, 08:31:57 AM

...
06-04-2013 - 1000 EUR sepa - received 07-30-2013
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.

This fits well with the latest information from MtGox. SEPA withdrawal times are decreasing. Aug. 9th was a Friday, and if it was done in normal daytime in Europe processing started on Monday 12th. It should arrive any time now. Just cancel your international wire. It is going to take a very long time. As a verified user you can easily increase your daily limit to 10k EUR by asking support.

no, i have been waiting 2 month for 1000 EUR and more than 1 month for 750 EUR.
it shows, that smaller amounts up to 500 EUR are much faster. maybe it's better to split it in smaller amounts.

Those are old. The reduction of SEPA queue to a week or less happened very recently. Last word from marionxd (MtGox support) in #mtgox on Freenode is: "Europe is currently solved." Contact them if you don't get your latest SEPA withdrawal today.

Spread between MtGox and Bitstamp supports this. It is currently below 9%, and I haven't seen it above 10% all day. Arbitrage is working. I expect the difference to stay well below 10% until tomorrow evening, perhaps rise a bit during the weekend (no deposits), and return to below 5% next week. Less than 5% is hardly worth the trouble of moving fiat around, but I guess some people will anyway.

Btw, why don't you ask for a higher withdrawal limit? My limit is 10k EUR, and my status is verified.

sturle

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Quote from: Rampion on August 22, 2013, 04:14:50 AM

Quote from: sickpig on August 22, 2013, 03:15:42 AM

Quote from: Rampion on August 21, 2013, 05:00:43 PM

Quote from: cedivad on August 21, 2013, 02:22:37 PM

Exiting, where?
There is not the corresponding selling pressure on bitstamp.

This. It's true that tens of k's are leaving Gox, but they are not showing up on Bitstamp at all. And this have been going on for months now. Just check the order books.

serious question: any idea on where are they going ?

Not to any exchange. Cold storage I'd say.

Or staying at MtGox, but out of the order book. 10k or more BTC suddenly coming out of nowhere (not corresponding with recent large transactions in the blockchain) in a big dump happens now and then. Keeping them out of the book makes an impression of buying pressure.

sickpig

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Quote from: stereotype on August 22, 2013, 05:06:27 AM

Quote from: Rampion on August 22, 2013, 04:14:50 AM

Quote from: sickpig on August 22, 2013, 03:15:42 AM

Quote from: Rampion on August 21, 2013, 05:00:43 PM

Quote from: cedivad on August 21, 2013, 02:22:37 PM

Exiting, where?
There is not the corresponding selling pressure on bitstamp.

This. It's true that tens of k's are leaving Gox, but they are not showing up on Bitstamp at all. And this have been going on for months now. Just check the order books.

serious question: any idea on where are they going ?

Not to any exchange. Cold storage I'd say.

LocalBitcoin

It could be, but we're talking about thousands of BTC, though. It would be fun to see those face to face exchanges Tongue

stereotype

legendary

Activity: 1554

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Quote from: Rampion on August 22, 2013, 04:14:50 AM

Quote from: sickpig on August 22, 2013, 03:15:42 AM

Quote from: Rampion on August 21, 2013, 05:00:43 PM

Quote from: cedivad on August 21, 2013, 02:22:37 PM

Exiting, where?
There is not the corresponding selling pressure on bitstamp.

This. It's true that tens of k's are leaving Gox, but they are not showing up on Bitstamp at all. And this have been going on for months now. Just check the order books.

serious question: any idea on where are they going ?

Not to any exchange. Cold storage I'd say.

LocalBitcoin

Rampion

legendary

Activity: 1148

Merit: 1018

Quote from: sickpig on August 22, 2013, 03:15:42 AM

Quote from: Rampion on August 21, 2013, 05:00:43 PM

Quote from: cedivad on August 21, 2013, 02:22:37 PM

Exiting, where?
There is not the corresponding selling pressure on bitstamp.

This. It's true that tens of k's are leaving Gox, but they are not showing up on Bitstamp at all. And this have been going on for months now. Just check the order books.

serious question: any idea on where are they going ?

Not to any exchange. Cold storage I'd say.

sickpig

legendary

Activity: 1260

Merit: 1008

Quote from: Rampion on August 21, 2013, 05:00:43 PM

Quote from: cedivad on August 21, 2013, 02:22:37 PM

Exiting, where?
There is not the corresponding selling pressure on bitstamp.

This. It's true that tens of k's are leaving Gox, but they are not showing up on Bitstamp at all. And this have been going on for months now. Just check the order books.

serious question: any idea on where are they going ?

Grinder

legendary

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Quote from: OhShei8e on August 21, 2013, 11:29:09 AM

Just a few weeks ago there were 115k BTC on the Ask site. I am now in the middle of my first abritrage. Bought 5 BTC on bitcoin.de at 78 € and now sell 4 BTC at 99.5 € on Gox. This was only a test, but I will earn 20% (1 BTC)! I would not call the

The term for this is speculation, not arbitrage.

doobeedoo

newbie

Activity: 24

Merit: 0

Quote from: sturle on August 22, 2013, 12:26:44 AM

Quote from: doobeedoo on August 21, 2013, 06:53:51 PM

no, i have been waiting 2 month for 1000 EUR and more than 1 month for 750 EUR.
it shows, that smaller amounts up to 500 EUR are much faster. maybe it's better to split it in smaller amounts.

Are they listed as SEPA or International? SEPA is fast, international fits your description.

reading my post could help...

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

sturle

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https://bitmynt.no

Quote from: doobeedoo on August 21, 2013, 06:53:51 PM

no, i have been waiting 2 month for 1000 EUR and more than 1 month for 750 EUR.
it shows, that smaller amounts up to 500 EUR are much faster. maybe it's better to split it in smaller amounts.

Are they listed as SEPA or International? SEPA is fast, international fits your description.

doobeedoo

newbie

Activity: 24

Merit: 0

Quote from: sturle on August 21, 2013, 08:50:45 AM

Quote from: doobeedoo on August 21, 2013, 08:31:57 AM

Quote from: sturle on August 21, 2013, 07:00:29 AM

Quote from: Rampion on August 21, 2013, 06:04:12 AM

The truth is it seems pretty random. What's obvious is that the "withdrawals are processed in receiving order" is utter BS. Just now some people reports SEPA withdrawals clearing in 15/20 days, some others have been +5 weeks waiting.

International wires are processed in receiving order. No word about the processing order of SEPA withdrawals, but I suspect they start with the oldest and run through the queue while skipping those which are too large to fit within the daily quota. This means smaller SEPA withdrawals will have a small advantage.

If you have been waiting 5 weeks for a SEPA withdrawal, you should contact support and ask if anything is wrong. It probably is. Some wrong info perhaps, like joesmoe who misspelled his Japanese name, or it got in the international (SWIFT) queue by mistake.

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.

This fits well with the latest information from MtGox. SEPA withdrawal times are decreasing. Aug. 9th was a Friday, and if it was done in normal daytime in Europe processing started on Monday 12th. It should arrive any time now. Just cancel your international wire. It is going to take a very long time. As a verified user you can easily increase your daily limit to 10k EUR by asking support.

no, i have been waiting 2 month for 1000 EUR and more than 1 month for 750 EUR.
it shows, that smaller amounts up to 500 EUR are much faster. maybe it's better to split it in smaller amounts.

sturle

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Activity: 1437

Merit: 1002

https://bitmynt.no

Quote from: Rampion on August 21, 2013, 05:00:43 PM

Quote from: cedivad on August 21, 2013, 02:22:37 PM

Exiting, where?
There is not the corresponding selling pressure on bitstamp.

This. It's true that tens of k's are leaving Gox, but they are not showing up on Bitstamp at all. And this have been going on for months now. Just check the order books.

Very slowly. There is still more BTC in the order books on MtGox than there were in April. But, yes. It looks like some are hoarding BTC. Prepare for rally!

sturle

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Quote from: Zarathustra on August 21, 2013, 04:56:05 PM

Quote from: sturle on August 21, 2013, 04:38:43 PM

Quote from: Zarathustra on August 21, 2013, 04:21:20 PM

Today is a high volume day. Biggest volume at BitStamp since more than 5 weeks, but today BitStamp is not far behind Gox. (24k / 29k)
The times they are a changin ...

Yep, it's the smart money doing arbitrage. Difference between MtGox and Bitstamp is back below 10% now:

You still don't understand arbitrage. To move money into junk bonds and back into high grade bonds is as less arbitrage as to move money between junk exchanges and real exchanges. It is speculation.

People are moving fiat money from MtGox to other exchanges to buy BTC at a low price, which they sell on MtGox for what the BTC is worth. Repeat. This is arbitrage. Read about it. BTC is BTC. EUR is EUR. You become richer in the process, which makes it a smart move. Hence smart money.

Quote from: sturle on August 21, 2013, 04:38:43 PM

Quote

Your volume for MtGox is too low, btw. You only counted USD volume. Add almost 4k EUR trades, almost 1.8k JPY trades, and more than 2k in other currencies.

I always count the same to follow the decline of gox market share.

Eh? You count it wrong so you can pretend to yourself it is declining? You add up all currencies at Bitstamp because Bitstamp don't know how to implement a real multi currency exchange, so why not use a comparable measure for MtGox?

Rampion

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Quote from: cedivad on August 21, 2013, 02:22:37 PM

Exiting, where?
There is not the corresponding selling pressure on bitstamp.

This. It's true that tens of k's are leaving Gox, but they are not showing up on Bitstamp at all. And this have been going on for months now. Just check the order books.

Zarathustra

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Activity: 1162

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Quote from: sturle on August 21, 2013, 04:38:43 PM

Quote from: Zarathustra on August 21, 2013, 04:21:20 PM

Today is a high volume day. Biggest volume at BitStamp since more than 5 weeks, but today BitStamp is not far behind Gox. (24k / 29k)
The times they are a changin ...

Yep, it's the smart money doing arbitrage. Difference between MtGox and Bitstamp is back below 10% now:

Some whales left the junk exchange and therefore the buying pressure is diminishing for a while.
An you still don't understand arbitrage. To move money into junk bonds and back into high grade bonds is as less arbitrage as to move money between junk exchanges and real exchanges. It is speculation.

Quote

Your volume for MtGox is too low, btw. You only counted USD volume. Add almost 4k EUR trades, almost 1.8k JPY trades, and more than 2k in other currencies.

I always count the same to follow the decline of gox market share.

erk

hero member

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Quote from: OhShei8e on August 21, 2013, 04:39:29 PM

Quote from: Zarathustra on August 21, 2013, 04:21:20 PM

Today is a high volume day. Biggest volume at BitStamp since more than 5 weeks, but today BitStamp is not far behind Gox. (24k / 29k)
The times they are a changin ...

For Bitstamp it's big, for Gox its puny.

More so it only looks at one currency pair, Gox does many. If you add them up bitstamp only does about 1/4-1/3 of the Gox weekly volume.

OhShei8e

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Quote from: Zarathustra on August 21, 2013, 04:21:20 PM

Today is a high volume day. Biggest volume at BitStamp since more than 5 weeks, but today BitStamp is not far behind Gox. (24k / 29k)
The times they are a changin ...

For Bitstamp it's big, for Gox its puny.

sturle

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Quote from: Zarathustra on August 21, 2013, 04:21:20 PM

Today is a high volume day. Biggest volume at BitStamp since more than 5 weeks, but today BitStamp is not far behind Gox. (24k / 29k)
The times they are a changin ...

Yep, it's the smart money doing arbitrage. Difference between MtGox and Bitstamp is back below 10% now:

23:33 mtgox premium over bitstamp is currently 9.6536870263 %.

Your volume for MtGox is too low, btw. You only counted USD volume. Add almost 4k EUR trades, almost 1.8k JPY trades, and more than 2k in other currencies.

Zarathustra

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Quote from: sturle on August 21, 2013, 07:05:09 AM

Quote from: Zarathustra on August 21, 2013, 06:08:39 AM

Quote from: sturle on August 21, 2013, 05:58:49 AM

Numbers tell otherwise. Well over 50% market share, and by far the deepest order book of all exchanges. MtGox is clearly the most trusted of all exchanges.

MtGox is clearly those exchange of the bigger ones, that is losing market share at the highest speed.

Their market share has always been following volume, and volume has been extraordinary low for a while. MtGox went back over 80% for a while yesterday when volume was high (24h volume).

Today is a high volume day. Biggest volume at BitStamp since more than 5 weeks, but today BitStamp is not far behind Gox. (24k / 29k)
The times they are a changin ...

Zarathustra

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Quote from: sturle on August 21, 2013, 03:15:25 PM

Quote from: zeroblock on August 21, 2013, 02:53:17 PM

Whales are buying BTC in large quantities to move out of Gox. They don't necessarily need to cash out immediately. They could be holding BTC for speculative purposes as there is no other exchange that could possibly handle that volume (neither can Gox, that's why the price has moved so dramatically).

This is quite obvious when you see such large buy orders in 1 minute time spans vs a gradual move up in price.

They are buying BTC in large quantities to move out of MtGox, but they don't move it out of MtGox? Is this some kind of New Speak for speculative buying because they believe the price is going up?

Where did zeroblock argue that they don't move it out of MtGox? Sometimes it would be no disadvantage zu keep quiet.

sturle

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Quote from: zeroblock on August 21, 2013, 02:53:17 PM

Whales are buying BTC in large quantities to move out of Gox. They don't necessarily need to cash out immediately. They could be holding BTC for speculative purposes as there is no other exchange that could possibly handle that volume (neither can Gox, that's why the price has moved so dramatically).

This is quite obvious when you see such large buy orders in 1 minute time spans vs a gradual move up in price.

They are buying BTC in large quantities to move out of MtGox, but they don't move it out of MtGox? Is this some kind of New Speak for speculative buying because they believe the price is going up? Not Exactly New in the world of Bitcoin trading. What about the even larger price increase at Bitstamp? Is that people buying BTC on Bitstamp to move out of Bitstamp, but they don't actually move it out of Bitstamp, or something? No, this is entirely in your own head.

Topic: MtGox withdrawal delays [Gathering] - page 300. (Read 908751 times)