Topic: MtGOX WTF is going on? - page 3. (Read 14905 times)

Exact same thing happened to me a couple of days ago. I had a guy drive down to buy coins to from me and when he got here I couldnt get my coins off Gox. I was really pissed and confused. I got it worked out, I had a friend give me a short term loan and got my account verified, but it really sucked.

- Poor trading engine and API
- safety deficiencies
- very low market depth

The money is already on Gox. Approximately over $ 20 million. This can not be easily changed. Do you get it?

The only thing you could deduct from Gox immediately are over 100,000 bitcoins. And then? Where do we sell? At what price? Do you get it?

I'm tired of this discussion.

No one, absolutely no one will deposit $ 30 million and more on any Bitcoin exchange at the moment. If Gox croaked, then we go back to single digits.

In this case I can think of many new Bitcoins with the money I've already earned and which is already on my normal savings account. Let's wait first who will survive the crash and if anyone is still interested in Bitcoin after the biggest exchange with Millions of Dollars have croaked. I don't think so. Where is the money on Bitstamp? I do not see anything! The damn orderbook is empty all the time. Bitstamp is simply the new Dwolla, LR or OKPay for Gox traders. People withdrawal immediately, no real trading. No money is deposited there permanently. An exchange with such a low market depth is ridiculous.

Although bitstamp passed them in volume for a couple days last week, I don't understand how they are still averaging higher volume.  Do people just not know how terrible they are?  6-8 weeks to withdraw, and 20 days to deposit?  WTF?

This is not FUD. this is genuine concern. 20 Days is too long to wait for a deposit.

stop spreading FUD plz. Thanks

mt.gox is fine.

Yes.

Has anyone else had delay with DEPOSITS?

rather foolishy sent some cash to them via bank transfer just before they put up the 7-10 timeframe notice.

thats now 20 days real time and about 15 bank days.

Still now news, despite various support tickets.

anyone else out there with similar issues.

It's just a delay tactic, part of their ponzi...

j/k

They required all sorts of verification from me as well initially.

I have withdrawn BTC to my wallet many times from Gox over the past few months. I have never been verified, I don't withdraw fiat, I just use Gox to make more BTC when the BTC/USD is volatile there.

"Mt. Gox will request identification information"

Found this in the Terms Of Service.


Mt. Gox will request identification information (such as an identity card, invoices, Government issued photographic identification, utility bill, residential certificate, signed certification of cohabitation, or similar, banking information) depending on the amounts deposited on the Accounts or the presence of suspicious activity which may indicate money-laundering or other illegal activity. Identification of the bank account from which funds are transferred to the Account may also be requested. In certain cases notarization of certain documents (including apostille) may be requested. Transactions may be frozen until the identity check has been considered satisfactory by Mt. Gox as required by applicable money laundering laws. Mt. Gox may request additional identification information at any time at the request of any competent authority or by application of any applicable law or regulation.

Accounts may be used strictly for the purposes defined in these Terms.

But , This is in the FAQ

Transaction Limits

• There are no limits on Bitcoin deposits to Mt. Gox accounts.                                                               

• There are no limits on currency deposits into a Mt. Gox account.

• Currency withdrawal limits depend on whether your account is verified or trusted.

 I cannot find any specific conditions on BTC Withdrawals yet.

It's been true for at least a year and a half (in my experience). Any BTC deposits into gox, required AML checks to get it out.

I don't know if the credit union takes BTC but I know they take BTC donations. That credit union is the Internet Credit Union, who just bailed out all the Bitfloor depositors

http://www.reddit.com/r/Bitcoin/comments/1j2ju0/at_long_last_my_bitfloor_usd_refund_has_appeared/

With the exception of depositing, that is.

There's not a bank in world that I can walk into and open an account without providing ID, yet Mt Gox can take your Bitcoin deposit without knowing exactly who you are, but when it comes time to withdraw your own funds, you have to jump through rings like a trained dog.

Here's my take: If this is true that a person needs to now show ID to withdraw their bitcoins, then Mt Gox just drove the last nail in their coffin, and everybody should get out ASAP.

Rumor has it that there's an excellent credit union here in the US that accepts bitcoins. As far as trading goes, give it a few months when open trading in the open (literally) will be all the rage in every major city in the world, not counting a few villages as well.

i had this happen to me twice

I think that happened sometime ago, you need to submit your verification and have it approved before you can do anything at Mtgox nowadays.

They can go fuck themselves after this.......
It's completely messed up the business opportunity I needed the cash for.
I could have had the account verified if they had let me know before I needed the coins.

yep...sounds like a miners list

Something must have suddenly changed at MtGox. Normally they do not block transfers for verification if you want to withdraw your bitcoins. Strange they didn't announce this if they really start blocking bitcoin transfers until the account is verified.

It happened since last night......

The issue is that to get verified takes time...., which they could have saved by letting me know before hand.......

Or is someone trying to build a database of miners personal information.....?

wasn't it only fiat withdrawals that needed verification?...now you need verification for coin transfers too?...when did this change?