Topic: mt.gox.... yea or nay? lol (Read 1509 times)
Nay..
Guys, I just hear from someone saying that Mtgox is having a lot of fiat issue and going to go bankrupt. is it true?
Sources, links, threads, news, anything? didn't think so. jackass
Have about 500 in btc that I would like to sell. The big question is, can I depend on gox to give me my money if I cash out with them? Anyone use mtgox lately? If so, how did it go?
Depends. If you can withdraw JPY to a Japanese domestic account you are good to go. You will have your money early next week. If you can withdraw EUR via SEPA you may be good as well, depending on how long you are willing to wait. Currently it takes about 5 weeks for a withdrawal > 400 EUR and < 30k. 10% interest for 5 weeks isn't bad. Unfortunately you can't withdraw more than 30k in one go with SEPA, and your next withdrawal will start in the back of the queue when your first is finished. The last option is the manual withdrawal. It isn't officially announced anywhere, and is a limited option offered at MtGox's discretion for high amounts. There is a 5% bank fee associated with it, which is still much better than selling on another exchange currently. 
Why not just wait for Mt Gox clear up all their withdrawal problem first, then only sell on their portal since its the highest priced Bitcoin site.
The reason Gox prices are so high is because they are insolvent. If people can withdraw, price will equalize.
BitStamp would be a much better option. They are as quick as can be with deposits/withdraws.
If all happen to panic with the withdrawal from MtGox, last bitcoin will be sold above 100500 virtual USD (not able to withdraw).
Another question, if MtGox not need send fiat money to clients, and all dollar balances are virtual now, why they not buy all bitcoin offers? Here no diffirence, 150M virtual dollars or 1500M on clients balances, if nobody can get it.
Another question, if MtGox not need send fiat money to clients, and all dollar balances are virtual now, why they not buy all bitcoin offers? Here no diffirence, 150M virtual dollars or 1500M on clients balances, if nobody can get it.
Why not just wait for Mt Gox clear up all their withdrawal problem first, then only sell on their portal since its the highest priced Bitcoin site.
I wouldn't trust it as I tried to sell BTC once and it was fine (first 3 small orders of GBP) but when I wanted to exchange them again it says that I need to 'verify ID'.Since the site is based outside the UK I simply can't trust it (I'm used to the extensive data protection laws of the UK,not those of countries outside the EU) full stop to handle my personal info properly or on time.This is just my personal experience of it so I'm looking for a UK based exchange site (as I can't spend Euros/US dollars in the UK).
ya, sell your bitcoins there to push down the price so that more bagholders could exit at another exchange at a lower premium
Have about 500 in btc that I would like to sell. The big question is, can I depend on gox to give me my money if I cash out with them? Anyone use mtgox lately? If so, how did it go?
if you are in europe use bitstamp, if in the usa use coinbase. you just wont be able to dump 500 all at once...
both are reliable and safe
mtgox, who knows how long you will need to wait to get money out, and you might need to pay 5% wire fee, so any difference in price is mitigated by these factors.
Yeah, I would strong advise against Mt. Gox if you are going to sell that much BTC. Your not going to get your money out anytime soon, so you'd probably be better off using another exchange.
Chances are that if you sell them on MtGox, you will get your money eventually. But if withdraw by international wire (SWIFT) you'll have to wait from a few months to a few years until they secure a way to send more than a handful of USD wires a day, or stop accepting USD withdrawals at all in order to slowly work through the queue.
So, if you can think of an investment for your fiat that could profit you more than the difference between Gox and others (in that timeframe), I'd advise against using Gox.
So, if you can think of an investment for your fiat that could profit you more than the difference between Gox and others (in that timeframe), I'd advise against using Gox.
Have about 500 in btc that I would like to sell. The big question is, can I depend on gox to give me my money if I cash out with them? Anyone use mtgox lately? If so, how did it go?
Don't do it man. Most likely you won't be able to get your fiat out.Earlier this year I had to wait 3+ months to get a shitload of Euros transferred to my bank account (and still didn't get it). I ended up cancelling the whole thing, buying back BTC (at premium price
), withdrawing them to another exchange and selling them there.It wouldn't surprise me if MtGox is going to close their doors soon. Which is a good thing, I guess. Nothing against MtGox in particular, but they have been too big for way too long. Not good for the decentralized nature of Bitcoin.
You will earn more by selling them on Gox, but there is a reason for that.
You have a pretty big chance you have to wait months before you get your money. For a couple of 100$, I would take that risk, but in no way I would sell 500btc there.
You have a pretty big chance you have to wait months before you get your money. For a couple of 100$, I would take that risk, but in no way I would sell 500btc there.
Guys, I just hear from someone saying that Mtgox is having a lot of fiat issue and going to go bankrupt. is it true?
try coinbase , or ask bitpay to purchase them .
Just sell a shit ton on Bitmit for cash through mail.
Well, the large gap between exchanges tells me maybe not. People are losing faith in it, so to make up for that risk, prices are higher.
In other words, it's not looking good.
In other words, it's not looking good.
MtGox is a Bitcoin purchasing website.
Have about 500 in btc that I would like to sell. The big question is, can I depend on gox to give me my money if I cash out with them? Anyone use mtgox lately? If so, how did it go?
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