MtGox withdrawal delays [Gathering] - page 315.

smoothie

legendary

Activity: 2492

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LEALANA Bitcoin Grim Reaper

Quote from: ?? on ??

Quote from: smoothie on August 15, 2013, 04:47:17 AM

Quote from: S3052 on August 15, 2013, 12:52:56 AM

this is not a promotion. it is just stating the facts that people can use various exchange. And to date, MtGox is still the largest.
It still holds true that my account at MtGox is 0 BTC, 0 fiat.

Same here.

Same here. In fact I never had any USD or BTC in mtgox even momentarily and have no any intention to use them in the future. "Do not touch with a barge-pole" is my tag for them. YMMV.

Yup. I refuse to use them anymore also. We need some real professionals who know how to run a world-class exchange to come into the bitcoin market and capture a good share of volume.

THAT, would be healthy for bitcoin.

joesmoe2012

hero member

Activity: 882

Merit: 501

Ching-Chang;Ding-Dong

Just an update, it appears the my JPY transfer didn't go through because of an error in the Japanese spelling of my name. I was never notified of this, but after repeat inquries to support finally it's been cleared up.

Still showing as confirmed though, will update here when/if it hits japanese account.

sturle

legendary

Activity: 1437

Merit: 1002

https://bitmynt.no

Quote from: S3052 on August 15, 2013, 12:52:56 AM

this is not a promotion. it is just stating the facts that people can use various exchange. And to date, MtGox is still the largest.
It still holds true that my account at MtGox is 0 BTC, 0 fiat.

At least my fiat seems to be safe at MtGox. Grin

10% instant profit on deposits via BTC, and it may be a smart place to hold fiat when fiat withdrawals are back to normal. I see cheap BTC on the horizon. Simple to change currency as well, when the USD goes down the drain. Even at a profit, depending on the price differences between different currencies at MtGox. My bot has been juggling between BTC and different fiat currencies very successfully for a while. Not an ideal place to keep fiat right now for those who can't afford it, of course.

smoothie

legendary

Activity: 2492

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LEALANA Bitcoin Grim Reaper

Quote from: S3052 on August 15, 2013, 12:52:56 AM

this is not a promotion. it is just stating the facts that people can use various exchange. And to date, MtGox is still the largest.
It still holds true that my account at MtGox is 0 BTC, 0 fiat.

Same here.

S3052

legendary

Activity: 2100

Merit: 1000

this is not a promotion. it is just stating the facts that people can use various exchange. And to date, MtGox is still the largest.
It still holds true that my account at MtGox is 0 BTC, 0 fiat.

rampantparanoia

sr. member

Activity: 516

Merit: 283

Quote from: S3052 on August 14, 2013, 06:49:01 AM

I have cancelled all withdrawals as none of them went through for 3 months.
Back into BTC, then all BTC withdrawn yesterday out of MtGox and now I am done with them.
For me mtgox is dead as of today.

If this is the case, why are you still promoting them on your site? https://digitalcurrencyresearch.com/sign_up/bitcoin-bull-bear/?currency=BTC

HowlingMad

full member

Activity: 175

Merit: 100

I am trying to get an ABA transfer out of Gox, which is supposed to be 2-5 business days. I have had one there for a week now and am getting the 'canned' response. "We are backed up excessively and are working the problem as fast as we can...I also asked for a guess-tamite as to the number of business days... No answer. I am guessing this is going to be the "up to 3 weeks delay for a SEPA withdrawal" and that is when I will see it.

$1000 USD on August 8th, 2013. I will post when I see it.

sturle

legendary

Activity: 1437

Merit: 1002

https://bitmynt.no

Quote from: bkava on August 14, 2013, 01:29:49 PM

Quote from: joesmoe2012 on August 14, 2013, 06:02:57 AM

It's now been 1 week since I requested a JPY Domestic Withdraw. It is for 10k Yen and still shows as "Confirmed."

So it does not appear that their SWIFT limit is the problem.

Also, 10 SWIFT transfers a day is BS, I've sent more than that in a day (I don't routinely do it, but nobody at my bank cares if i want to make 10 SWIFT transfers...).

Just to confirm once again, I have USD SWIFT Wire pending since 6/17 (6 figures), EUR SWIFT to Poland, EUR SEPA to Poland, and JPY to domestic japanese bank.

NONE of these have come through yet.

I'm going to go ahead and cancel a few of my withdraws and just take the hit to withdraw bitcoin. I don't see the situation at gox getting any better.

Can someone please ask MagicalTux on IRC about JPY domestic transfers. There would seem to be no excuse for delayed JPY transfers other than liquidity problems.

This is the only report I've seen about delayed transfer of JPY to Japan. Everyone else seem to have their money in their account on the next day. Perhaps there is a queue issue? As long as the previous withdrawals are stuck in queue, the later JPY transfer will not be executed? This is pure speculation, of course. I would contact support. If it fails, contact Mark on IRC when he is awake.

By the way -- sending 10 SWIFT transfers on one day is not the same as sending 10 every day. Of course I wish we knew more about the reason for this limit.

prophetx

legendary

Activity: 1666

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he who has the gold makes the rules

Quote from: tvbcof on August 14, 2013, 12:55:29 PM

Quote from: prophetx on August 14, 2013, 11:14:47 AM

..
Someone is making an obscene killing right now.

If Roger is cleaning up on this, that is good! He's been ass-raped by just about every high-end huckster who has passed through the ecosystem in the couple of years that I've been observing things. At least that it what it looks like to me. They guy has done a lot for the system and whether it has turned out on balance to be a positive or negative, his heart seems to be in the right place.

I agree. Nothing wrong with a man making a profit when the rats go scurrying for land.

Clearly he is in Japan from his twitter feed, if I was involved with that level of cash I would be there too.

bkava

newbie

Activity: 33

Merit: 0

Quote from: joesmoe2012 on August 14, 2013, 06:02:57 AM

It's now been 1 week since I requested a JPY Domestic Withdraw. It is for 10k Yen and still shows as "Confirmed."

So it does not appear that their SWIFT limit is the problem.

Also, 10 SWIFT transfers a day is BS, I've sent more than that in a day (I don't routinely do it, but nobody at my bank cares if i want to make 10 SWIFT transfers...).

Just to confirm once again, I have USD SWIFT Wire pending since 6/17 (6 figures), EUR SWIFT to Poland, EUR SEPA to Poland, and JPY to domestic japanese bank.

NONE of these have come through yet.

I'm going to go ahead and cancel a few of my withdraws and just take the hit to withdraw bitcoin. I don't see the situation at gox getting any better.

Did you ask support about this? Did they come back with canned statement about delays?

Can someone please ask MagicalTux on IRC about JPY domestic transfers. There would seem to be no excuse for delayed JPY transfers other than liquidity problems.

tvbcof

legendary

Activity: 4760

Merit: 1283

Quote from: prophetx on August 14, 2013, 11:14:47 AM

..
Someone is making an obscene killing right now.

If Roger is cleaning up on this, that is good! He's been ass-raped by just about every high-end huckster who has passed through the ecosystem in the couple of years that I've been observing things. At least that it what it looks like to me. They guy has done a lot for the system and whether it has turned out on balance to be a positive or negative, his heart seems to be in the right place.

Nagle

legendary

Activity: 1204

Merit: 1002

Quote from: zeroblock on August 14, 2013, 10:36:36 AM

Who do you think is providing liquidity to Gox?

Nobody.
The spread between Mt. Gox and everybody else is 15% today.

Last week, the spread was around 10%. Two weeks ago, around 5%.

prophetx

legendary

Activity: 1666

Merit: 1010

he who has the gold makes the rules

Quote from: zeroblock on August 14, 2013, 10:36:36 AM

*This is totally speculative

Who do you think is providing liquidity to Gox?

http://www.youtube.com/watch?v=UP1YsMlrfF0

$3721 Exchange fee (lets assume 0.5-5% of total value wired)

Total Value:
0.5% - $744,200
1% - $372,100
2% - $186,050
3% - $124,033

Buy Bitstamp/Coinbase - sell at Gox?

http://corporate.visa.com/pd/consumer_services/consumer_ex_rates.jsp

1% seems to be typical - at least that is what I pay my bank and I do not do large amounts like this.

the only candidates for this would be bitstamp and mtgox (Btce will not accept wires from US banks), and he claims to currently be located in Tokyo.

Someone is making an obscene killing right now.

zeroblock

full member

Activity: 238

Merit: 100

*This is totally speculative

Who do you think is providing liquidity to Gox?

http://www.youtube.com/watch?v=UP1YsMlrfF0

$3721 Exchange fee (lets assume 0.5-5% of total value wired)

Total Value:
0.5% - $744,200
1% - $372,100
2% - $186,050
3% - $124,033

Buy Bitstamp/Coinbase - sell at Gox?

http://corporate.visa.com/pd/consumer_services/consumer_ex_rates.jsp

S3052

legendary

Activity: 2100

Merit: 1000

Quote from: samson on August 14, 2013, 06:52:20 AM

Quote from: S3052 on August 14, 2013, 06:49:01 AM

I have cancelled all withdrawals as none of them went through for 3 months.
Back into BTC, then all BTC withdrawn yesterday out of MtGox and now I am done with them.
For me mtgox is dead as of today.

Where will you trade now ?

low amounts at bitstamp and bitfinex. It works smoothly, e.g. Withdrawals always within 2-3 days.
But I don't risk the farm because I am not sure about their security and regulatory status

CYPER

hero member

Activity: 812

Merit: 502

Quote from: OhShei8e on August 14, 2013, 08:50:45 AM

But I have no practical experience with it. But what prevents you to verify your English bank account with Gox as SEPA Account? I would just try it and then withdrawal a small sum.

I will probably do that, but just want to know what to expect before I do it.
For example I asked one of the banks where I hold an account if they support incoming SEPA payments - the guy hasn't even heard of it. He said they only support SWIFT payments.

Quote from: OhShei8e on August 14, 2013, 08:50:45 AM

I am sure that you can also set up an account with an English bank, which runs in EURO. Every small business has serveral bank accounts in different currencies. That's not special. Just ask your bank.

Yes, but none of these are free as most UK GBP accounts are.

OhShei8e

legendary

Activity: 1792

Merit: 1059

Quote from: CYPER on August 14, 2013, 08:40:24 AM

Are you aware if I can make a SEPA payment to a UK GBP denominated account?

Britain is indeed a member of the SEPA currency area. See:

http://en.wikipedia.org/wiki/Single_Euro_Payments_Area

But I have no practical experience with it. But what prevents you to verify your English bank account with Gox as SEPA Account? I would just try it and then withdrawal a small sum.

I am sure that you can also set up an account with an English bank, which runs in EURO. Every small business has serveral bank accounts in different currencies. That's not special. Just ask your bank.

OhShei8e

legendary

Activity: 1792

Merit: 1059

Quote from: joesmoe2012 on August 14, 2013, 08:22:01 AM

Where do you get the information that you can convert money on gox for 2.5%? I don't believe this is true. You would have to buy for USD then sell for EUR, thus it'd be the difference between those plus the fees (two times).

Quote from: Mt. Gox

A fixed Commission of 2.5% shall apply to all Conversion Transactions which are performed by the Platform, and shall be deducted directly from the amount converted. The Commission shall be calculated on the amount of currency converted.

https://www.mtgox.com/terms_of_service

IMHO this fee is also payable if you change your auxiliary currency. I have not tried it yet, but everything else would be completely illogical. Or not?

CYPER

hero member

Activity: 812

Merit: 502

Quote from: OhShei8e on August 14, 2013, 08:18:35 AM

Quote from: CYPER on August 14, 2013, 07:52:52 AM

I have 1500USD in Gox and it seems that only International Wire transfers are affected, because 2 guys on another forum, that I'm a member reported they got paid quick via SEPA.

Warning: SEPA has never been "quick"! At least not for me. But I still get my money after a few weeks. I never withdarawl more than 999 euros in one go.

Quote from: CYPER on August 14, 2013, 07:52:52 AM

If I want to do SEPA my only option is to buy Bitcoins and then sell them for Euro, right?

You have to switch your account to EURO. It will cost you 2.5% of your dollar assets. Then you need a SEPA bank account. You verify it with Mt. Gox and than you can withdrawal your money.

It's maybe not worth worrying about. It might save you a few weeks. Bank transfers always take long for Bitcoin. There are always times where individual exchanges are faster, but once all this AML shit comes with in it takes forever. Plan just several weeks or month. A year ago there was not so much money on Gox. Therefore, it was faster, also because Gox has ignored the laws. Now while everyone wants to withdrawal and the FINCEN is behind them it takes maybe forever. I did not even know until a few weeks ago that USD withdrawals went so fast in the past. I always tought it would be normal to have to wait several weeks.
So nothing has changed for me.

Are you aware if I can make a SEPA payment to a UK GBP denominated account?

CYPER

hero member

Activity: 812

Merit: 502

Quote from: prophetx on August 14, 2013, 08:30:42 AM

see the bottom of this https://support.mtgox.com/entries/20800336-Multi-Currency-Trading

Quote

Q. Can I convert one currency in my wallet (e.g. EUR) into another currency (e.g. USD) in another wallet?

A. No, it is not possible to convert EUR to USD directly from one wallet to another as Mt.Gox is not a currency exchange.

Topic: MtGox withdrawal delays [Gathering] - page 315. (Read 908751 times)