Here's a theory. Gribble may be taking the difference as a percentage of the MtGox price, whereas it is most logical to use the lower Bitstamp price.
e.g. last trade on bitcoinwisdom at the time of this post
MtGox 112.05
Bistamp 98.60
Difference = 13.45
So, 13.45 / 98.6 = 13.6% and 13.45 / 112.05 = 12%
Topic: MtGox withdrawal delays [Gathering] - page 311. (Read 908613 times)
Must have been taken just after some large trade. Here are my samples from the time around my post (timestamps in CET):
20:12 mtgox premium over bitstamp is currently 9.43015538326 %.
20:53 mtgox premium over bitstamp is currently 9.80714742711 %.
22:18 mtgox premium over bitstamp is currently 9.15855226897 %.
Currently:
07:18 mtgox premium over bitstamp is currently 9.95425434584 %.
Far below the 12% to 14% from a couple of days ago.
20:12
20:53
22:18
Currently:
07:18
Far below the 12% to 14% from a couple of days ago.
That is a lie. Those numbers are completely fabricated, or chosen as the lowest values in a minute by minute range. Mt.Gox/Bitstamp variance hasn't been lower than 10% since 8/9.
These values were taken from Bitcoincharts.com. Would you like to provide your source? I'd love to see it.
09:35
09:35
The samples were taken at random times. The samples in your graph seems to be very far apart, and is certainly not accurate enough to prove anyone a liar.
That is a lie. Those numbers are completely fabricated, or chosen as the lowest values in a minute by minute range. Mt.Gox/Bitstamp variance hasn't been lower than 10% since 8/9.
Calling someone a liar without checking the specifics only makes you look stupid. There have been periods lasting a few hours in the last couple of days where the difference has been just under 10%, which is easy to see using http://bitcoinity.org. It seems to have ended with the sudden price jump on MtGox, though.No, I know where I am getting my pricing data from, and it is accurate. Since 8/9 there hasn't been a single day where the sustained variance is lower than 10%. Now, as I mentioned before there could be smaller time periods where the variance goes to 9%, but if you want to start doing that, we almost must look at the spikes the other way when variance hits 14-16%. I am using the most accurate and relevant data possible, using smaller time frames is inconsistent.
That is a lie. Those numbers are completely fabricated, or chosen as the lowest values in a minute by minute range. Mt.Gox/Bitstamp variance hasn't been lower than 10% since 8/9.
Calling someone a liar without checking the specifics only makes you look stupid. There have been periods lasting a few hours in the last couple of days where the difference has been just under 10%, which is easy to see using http://bitcoinity.org. It seems to have ended with the sudden price jump on MtGox, though. and the price difference between MtGox and Bitstamp is slowly decreasing. Below 10% for the first time in days now.
False. $110.34 vs $98.87 3:09 PT = 11.6% spread20:12
20:53
22:18
Currently:
07:18
Far below the 12% to 14% from a couple of days ago.
That is a lie. Those numbers are completely fabricated, or chosen as the lowest values in a minute by minute range. Mt.Gox/Bitstamp variance hasn't been lower than 10% since 8/9.
These values were taken from Bitcoincharts.com. Would you like to provide your source? I'd love to see it.
If you have a paid Bitcoin Analytics subscription, you can generate a chart. If not, you can look at their arbitrage spreads, delayed six hours.
Current values:
Mt. Gox 112.3
Bitstamp 99.16
Spread 13.2%
See the thread i just started.
Any body suspects that something badly wrong with MTGOX?
I am not quite sure.
Hope it won't happen because I have nearly 40K usd on MTGOX.
God damn MTGOX!
Anyone reports withdraw in JPY from MTGOX in several days?
Or shall we try to open an account in Japanese Banks?
Is that doable?
I am not quite sure.
Hope it won't happen because I have nearly 40K usd on MTGOX.
God damn MTGOX!
Anyone reports withdraw in JPY from MTGOX in several days?
Or shall we try to open an account in Japanese Banks?
Is that doable?
If you have money, you can generally send it somewhere else. If you don't...
They can. Withdrawal of JPY to Japanese bank accounts work fine and arrive next day. JPY has sailed up as the third most traded currency at MtGox now, and the price difference between MtGox and Bitstamp is slowly decreasing. Below 10% for the first time in days now.I agree that is a reasonable inference. Yet a few people report no problems with yen transfers and the only complaint so far re yen withdrawals were by joesmoe2012 who complained his withdrawal took 1 week (as opposed to 4-12 weeks for sepa/wire).
This topic has been ongoing for 4 months and no serious problem mentioned re JPY.
It is possible there are problems but japanese account holders don't hang out much on bitcointalk and therefore don't post about them.
It is also possible that there is no problem with JPY withdrawals and active, clued in JPY users don't mention not having problems because they have an arbitrage opportunity.
I wonder what could allow the gap to continue despite an efficient way to extract fiat from Gox.
Perhaps for some reason the JPY exchange still has bitcoin buyers who prefer to use MtGox since it is based in Japan?
The JPY situation is definitely curious.
It would be great if any JPY account holder would confirm that they are effectively arbitraging but of course if they're any good they won't say anything.
Hmmmm....
Yes the JPY transfer went through, the reason it was being held up by gox was that my name in japanese wasn't spelt right, so they couldn't process it. They didn't notify me of this, and the status still just showed confirmed.
If a withdraw is confirmed, doesn't that mean they have confirmed all the info?
Anyhow the mistake was on my behalf, not goxes. I do belive that JPY transfers are going out as normal.
I had withdrawals from about a month ago that went trough 10 days ago. Another withdrawal from just one day later in july is still in the queue. So either
1) They are not processing in order
2) They haven't processed *anything* since that particular day.
1) They are not processing in order
2) They haven't processed *anything* since that particular day.
14:19 <@MagicalTux> those wires are processed in received order, nothing else
Please stop quoting out of context and talk about all wires as they were the same kind.
Actually you can withdraw via domestic Polish PLN transfer as well.
If you have money, you can generally send it somewhere else. If you don't...
and the price difference between MtGox and Bitstamp is slowly decreasing. Below 10% for the first time in days now.20:12
20:53
22:18
Currently:
07:18
Far below the 12% to 14% from a couple of days ago.
I agree that is a reasonable inference. Yet a few people report no problems with yen transfers and the only complaint so far re yen withdrawals were by joesmoe2012 who complained his withdrawal took 1 week (as opposed to 4-12 weeks for sepa/wire).
The reason for this was an error in the Japanese spelling of his name. His JPY transfer arrived the day after he contacted support and corrected the error. There have been many reports on this forum, even in this thread, that JPY transfers work fine both ways. If you have money, you can generally send it somewhere else. If you don't...
They can. Withdrawal of JPY to Japanese bank accounts work fine and arrive next day. JPY has sailed up as the third most traded currency at MtGox now, and the price difference between MtGox and Bitstamp is slowly decreasing. Below 10% for the first time in days now.Mt.Gox is a way to buy bitcoins.
At 10%-15% over the going rate, it's not a very good one. If you have money, you can generally send it somewhere else. If you don't...
They can. Withdrawal of JPY to Japanese bank accounts work fine and arrive next day. JPY has sailed up as the third most traded currency at MtGox now, and the price difference between MtGox and Bitstamp is slowly decreasing. Below 10% for the first time in days now.I agree that is a reasonable inference. Yet a few people report no problems with yen transfers and the only complaint so far re yen withdrawals were by joesmoe2012 who complained his withdrawal took 1 week (as opposed to 4-12 weeks for sepa/wire).
This topic has been ongoing for 4 months and no serious problem mentioned re JPY.
It is possible there are problems but japanese account holders don't hang out much on bitcointalk and therefore don't post about them.
It is also possible that there is no problem with JPY withdrawals and active, clued in JPY users don't mention not having problems because they have an arbitrage opportunity.
I wonder what could allow the gap to continue despite an efficient way to extract fiat from Gox.
Perhaps for some reason the JPY exchange still has bitcoin buyers who prefer to use MtGox since it is based in Japan?
The JPY situation is definitely curious.
It would be great if any JPY account holder would confirm that they are effectively arbitraging but of course if they're any good they won't say anything.
Hmmmm....
If Mt. Gox had "serious problems with the US Government", there would be press releases from DOJ or the SEC, news coverage, and possibly arrests.
I would consider the seizure of a Credit Union account by the US Department of Homeland Security to be serious problems with the US Government https://bitcointalksearch.org/topic/mtgoxs-dwolla-account-in-the-usa-has-been-seized-by-the-dhs-205694
They have serious problems with CoinLab, which is suing them for good reasons.
I would rather not comment on the merits or lack thereof of a lawsuit before the courts. I will point out a thread back in March where I asked a series of mundane questions regarding compliance in Canada I received a prompt response from MTGox but no response to this day from Coinlab so I will let the reader be the judge here. https://bitcointalksearch.org/topic/m.1579776
They might have serious problems with some Tokyo banks. But even that is unlikely. If you have money, you can generally send it somewhere else. If you don't...
Mt. Gox had trouble at the US end, they'd probably be blocked from receiving money transfers. They're not. Somehow, the only things that don't work are things that take money away from Mt. Gox. That's very convenient for Mt. Gox.
Mt. Gox had trouble at the US end, they'd probably be blocked from receiving money transfers. They're not. Somehow, the only things that don't work are things that take money away from Mt. Gox. That's very convenient for Mt. Gox.
I still believe the problems are regulatory and not financial.
Regulatory problems imply financial problems especially when it involves your bank accounts being frozen.
I have a question. I've been reading through this thread and have seen everybody pissing on MtGox with fury over the situation. At the same time it seems people have multiple withdrawal requests for thousands of dollars.
Mt.Gox is a way to buy bitcoins.
As far as I know there have been no problems buying or transferring bitcoins. The only problem is withdrawing USD, which is obviously tied to the old existing banking system.
Now, I'm not saying Mt.Gox should not have offered withdrawal by wire service, but it seems to me if they didn't this problem wouldn't exist. In other words the people making all these USD withdrawal requests apparently were not truly interested in owning bitcoins, but in something different. So now that the system has jammed up everyone is in a temper. It seems to me Mt.Gox isn't the only entity responsible for the resulting situation of multitudes of people withdrawing thousands of USD, or am I missing something?
Mt.Gox is a way to buy bitcoins.
As far as I know there have been no problems buying or transferring bitcoins. The only problem is withdrawing USD, which is obviously tied to the old existing banking system.
Now, I'm not saying Mt.Gox should not have offered withdrawal by wire service, but it seems to me if they didn't this problem wouldn't exist. In other words the people making all these USD withdrawal requests apparently were not truly interested in owning bitcoins, but in something different. So now that the system has jammed up everyone is in a temper. It seems to me Mt.Gox isn't the only entity responsible for the resulting situation of multitudes of people withdrawing thousands of USD, or am I missing something?
No, BitInstant or Coinbase are ways to buy bitcoins. Mt. Gox is an exchange.
If you have money, you can generally send it somewhere else. If you don't...
and the price difference between MtGox and Bitstamp is slowly decreasing. Below 10% for the first time in days now.False. $110.34 vs $98.87 3:09 PT = 11.6% spread
http://bitcoinwisdom.com/
If you have money, you can generally send it somewhere else. If you don't...
They can. Withdrawal of JPY to Japanese bank accounts work fine and arrive next day. JPY has sailed up as the third most traded currency at MtGox now, and the price difference between MtGox and Bitstamp is slowly decreasing. Below 10% for the first time in days now.
May I ask how many BTCs were involved? I'm trying the same thing but Mt Gox is limiting me to withdrawal of 100 BTCs a day.
Is there a reason this thread is so long and no one else did this?
- I asked MTGOX to cancel my withdrawal via ticket, they did but no money refunded into Gox account, onto Chat, got the money in the Gox account via Chat support agent, bought BTC, withdrew BTC to Bitstamp, sold BTC instantly, withdrew funds via SEPA on Bitstamp - operation says its complete and I should know in 24hrs if the funds appear.
I was waiting 9 f'ing weeks on MTGOX to process the SEPA withdrawal but might have worked around them in about 30min. Didnt loose anything noticeable cash wise either and BitStamp seem to have a good site, flows that work and are based in Europe, all good things.
- I asked MTGOX to cancel my withdrawal via ticket, they did but no money refunded into Gox account, onto Chat, got the money in the Gox account via Chat support agent, bought BTC, withdrew BTC to Bitstamp, sold BTC instantly, withdrew funds via SEPA on Bitstamp - operation says its complete and I should know in 24hrs if the funds appear.
I was waiting 9 f'ing weeks on MTGOX to process the SEPA withdrawal but might have worked around them in about 30min. Didnt loose anything noticeable cash wise either and BitStamp seem to have a good site, flows that work and are based in Europe, all good things.
If you have money, you can generally send it somewhere else. If you don't...
They can. Withdrawal of JPY to Japanese bank accounts work fine and arrive next day. JPY has sailed up as the third most traded currency at MtGox now, and the price difference between MtGox and Bitstamp is slowly decreasing. Below 10% for the first time in days now. Jump to: