NEWS: MtGox should be able to resume withdrawals "soon"

DooMAD

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Leave no FUD unchallenged

Quote from: Nagle on February 20, 2014, 10:34:35 AM

Mt. Gox is not resuming withdrawals. Again.

The February 20th announcement has less information than the previous one. There's not even a date for the next excuse.

I'm guessing by "security issues" they mean it looks bad for business if people are camped outside asking where their money is, so in response gox are going to run and hide until the problem goes away. Grin

Nagle

legendary

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Mt. Gox is not resuming withdrawals. Again.

The February 20th announcement has less information than the previous one. There's not even a date for the next excuse.

pleiotropik

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The 130 quote on GOX is not a reflection of market forces: the K. is making the quote plunge inside his black box so that he can come out (maybe this weekend) and declare that he's returning customer's money... on cents to the btc. it will be wise of him to hire lawyers and bodyguards, if he hasn't already.

Zarathustra

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Quote from: smoothie on February 19, 2014, 06:21:28 PM

I truly hope people get their money back and do not wish people to lose money with MTGOX. Good luck to those people.

So does Andreas.

Tweet:
"I hope Gox resumes operations *just* long enough for everyone to leave and never return to that terribly-mismanaged company"

pleiotropik

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I sense a disturbance in the Gox...

YipYip

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Quote from: superduh on February 19, 2014, 04:28:36 PM

Quote from: BitCoinNutJob on February 19, 2014, 02:43:19 PM

Quote

insider trading laws?? STFU - mtgox is not a public company.
stop pretending to know anything and stop FUDDING

sure lets defend gox & friends.

dont like inside trader ok..... how about FRAUD!!

Tongue

incompetence is not always fraud

Really .... Please dont pull the BFL defense of they are just mindless zombies with no self control of there own and its just all a big accident

Insolvency
Insider Trading
Withholding PPlz funds (theft ??)

At what point are they expected to have half a clue and therefore it is not an "ACCIDENT" ...do we give them 3 years 4 years or is it 10 years the magic number when we expect some level of customer service and responsibility

Gox wake up...time to die Cool

smoothie

legendary

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LEALANA Bitcoin Grim Reaper

Fact #1 - Users with funds at MTGOX are trying to be hopeful by creating threads like this one. Ultimately a thread creation will not affect the outcome of MTGOX's solvency.

Fact #2 - The market has spoken concerning MTGOX's solvency in BTC based on price. Getting legal action for USD is likely easier to do than for BTC.

Fact #3 - MTGOX has avoided answering the hard questions on whether they actually have all the bitcoins for customers.

Fact #4 - They are going to institute a withdraw (BTC) limit per day and per month. <----- Big sign of insolvency.

MY PREDICTION: Once Gox continues to delay and not allow users to withdraw all their funds as they would want, the truth will sink into the minds of their customers over about a 1-3 weeks that they likely will never see all of their funds again.

This will in turn create bad press for Bitcoin and confidence in the price will sink, ultimately making the price go lower. Those smart enough to time their purchases right will get a discount on the price of Bitcoin sometime in the next 2-6 weeks from now.

I truly hope people get their money back and do not wish people to lose money with MTGOX. Good luck to those people.

epetroel

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Merit: 251

Quote from: Nagle on February 19, 2014, 06:01:56 PM

Quote from: BitCoinNutJob on February 19, 2014, 04:58:52 PM

Roger Ver is a decent target. Roger Ver associates with gox. Fuck gox.

Roger Ver is a convicted felon.

Yeah, but that was for selling explosives on e-bay. Doesn't get much cooler than that

joesmoe2012

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Ching-Chang;Ding-Dong

Any confirmed withdraws yet?

Nagle

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Quote from: BitCoinNutJob on February 19, 2014, 04:58:52 PM

Roger Ver is a decent target. Roger Ver associates with gox. Fuck gox.

Roger Ver is a convicted felon.

Nagle

legendary

Activity: 1204

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Mt. Gox is not resuming withdrawals.

Mt. Gox is claiming they will issue a statement about resuming withdrawals at some future time.

There's a big difference.

Amitabh S

legendary

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Quote from: brokenchair on February 17, 2014, 10:20:09 AM

~~Fool me once shame on you, fool me twice shame on me~~,
fool me once, shame on - shame on you. Fool me - you can't get fooled again

BitCoinNutJob

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Activity: 1316

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Quote from: superduh on February 19, 2014, 04:28:36 PM

Quote from: BitCoinNutJob on February 19, 2014, 02:43:19 PM

Quote

insider trading laws?? STFU - mtgox is not a public company.
stop pretending to know anything and stop FUDDING

sure lets defend gox & friends.

dont like inside trader ok..... how about FRAUD!!

Tongue

incompetence is not always fraud

You are missing the sentiment even though you are likely correct on the inside trading definition.

I dont really care what the exact law term that could potentially be being broken is. i didnt even read much of what inside trading is - a mistake maybe cause i was trying to win people over but i dont care about knowing law.

Laws are mostly interchangeable nonsense words with no objective morality currently. Laws are used to preserve elites powers. Roger Ver is a decent target. Roger Ver associates with gox. Fuck gox.

If i was Mark Karpeles friend for many many years i would likely have had a word with him to get the dam BTC withdraws up ASAP & quit lying. So right now fuck Roger Ver.

FRAUD

superduh

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Quote from: BitCoinNutJob on February 19, 2014, 02:43:19 PM

Quote

insider trading laws?? STFU - mtgox is not a public company.
stop pretending to know anything and stop FUDDING

sure lets defend gox & friends.

dont like inside trader ok..... how about FRAUD!!

Tongue

incompetence is not always fraud

opentoe

legendary

Activity: 1274

Merit: 1000

Personal text my ass....

Since I got started into bitcoin and mining a couple years ago even then all I ever heard was problems and issues with Mt. Gox. All the time! Every day I heard issues, problems and just things never working properly. Why in the HECK are people still using that site? I don't get it. They apparently are the most fraudulent site around, trying every tactic in the book to make as much profit as they can. And the latest, they've gotten so bold they now do it right in the wide open and no one gives a shit. I never put one bitcoin through that site and would never touch it again and I recommend you do the same if you don't want any problems. I never understood why that site was so needed anyway? There are other ways to cash out your bitcoin. Unfortunately the safest way is to personal exchanges these days. All the big exchanges are just greedy hoarding CEO's running the business to the ground. I'm ready to sue CampBX and file a complaint against then for stealing my money, so you really have to watch what you do out there.

bananas

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FRAUD sounds correct

BitCoinNutJob

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Quote

insider trading laws?? STFU - mtgox is not a public company.
stop pretending to know anything and stop FUDDING

sure lets defend gox & friends.

dont like inside trader ok..... how about FRAUD!!

Tongue

superduh

hero member

Activity: 602

Merit: 500

Quote from: BitCoinNutJob on February 17, 2014, 07:29:07 AM

and btw roger ver of blockchain you are breaking inside trader laws - sorry to call you out you seem a nice guy but you associate with gox & i want my BTC ASAP not 3 months time thanks

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

roger ver buying up gox coin

https://bitcointalksearch.org/topic/m.5111950

again, im sorry, just angry

insider trading laws?? STFU - mtgox is not a public company.
stop pretending to know anything and stop FUDDING

Mythul

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Activity: 644

Merit: 250

any news on this ?

Gulinborsti

full member

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This is the response for some days now, it is simply their way to tell you that they have not yet opened up withdrawals again.
Maybe some weird babelfish translation ... Grin

Bitnicity

newbie

Activity: 56

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ok, when I tried to withdraw btc, they returned this fucking message:

"Transfer queue is currently not accepting more requests, please retry later"

Does that mean they are devising some fucking queuing system, first come first out and say put a total daily aggregate limit at 10btc for all users? then when we used up that limts(or Gox CLAIMS that the daily limit is used up, given no one really know the actual utilization of limit anyway) , then no one can withdraw. they are the most evil assholes in the Universe! fuck Gox.

gmaxwell

staff

Activity: 4242

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Quote from: ?? on ??

It was obvious that blockchain.info would "help" MtGox out. The actual Bitcoin developers, on the other hand, basically responded by saying "You actually don't need this new txid thing you demand, just code your damn php based bitcoin daemon to look at actual inputs and outputs". https://github.com/bitcoin/bitcoin/pull/3656

Hey, another ID could be useful to help with customer support— really this is only because people are not using Bitcoin as intended: if all your withdraws were to unique scriptPubkeys then thats all the ID you need to know you've been paid.

Of course, there would be no reason to gate withdraws on being able to give people IDs to look up transactions: For one, you could always have your own internal gox UUID (which they already issue) to list-of-txids. ... and even without _any_ improvements in that regard, an ID lookup is only relevant in some negligible number of odd transactions. I'm pretty sure customers would understand "Withdraws are enabled and working fine, but if there is any issue with your transaction, you'll have to wait in a long support queue to get it sorted" and prefer that over the current situation.

What that additional ID has to do with the Bitcoin protocol I dunno— it would purely be a frontend feature, and it's not like bitcoin-qt is the most significant wallet frontend— esp since it doesn't normally index third party transactions at all. There is no place for something like that in the protocol itself, similar to how the protocol itself has no concept of addresses (only scriptpubkeys) or change.

Rygon

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Quote from: smoothie on February 17, 2014, 01:40:55 PM

So they basically are:

1. Not opening withdrawals of BTC yet.

2. Haven't proven they have all of their customer funds.

3. "Supposedly" going to re-open withdrawal with new limits (BTC).

4. Not defined "limits" for BTC withdrawals (could be anything). <------- Prevents a bank run.

5. Claimed they will have more info by Thursday of this week (more delays as expected).

6. Still failing at running an exchange at world-class level.

Seriously they need to go away. Bitcoin doesn't need MTGOX and obviously MTGOX doesn't believe it needs to operate in the best interest of their customers.

Textbook example of a bank failing. They are giving just enough information so that customers don't go running to the legal authorities. They'll drag it out as a long as they can by delaying for vague reasons, and perhaps bring it online for a few select individuals just to throw a bone to the general community.

If you have money stored at MtGox, the only thing to be positive about right now is that MtGox is likely profiting from insider trading while the prices are low, which might mean they will solvent and come back online. That's illegal, of course, so there is a real risk that they might get shut down by the banking regulators in Japan at anytime. Good luck getting any kind of withdrawals then.

Electra

newbie

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What about my SEPA withdrawal from Dec 20th?!
No news about them!! Angry

gollum

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In Hashrate We Trust!

Seems like this was an empty promise to create another wave of pump-and-dump, albeit shortlived.

smoothie

legendary

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LEALANA Bitcoin Grim Reaper

So they basically are:

1. Not opening withdrawals of BTC yet.

2. Haven't proven they have all of their customer funds.

3. "Supposedly" going to re-open withdrawal with new limits (BTC).

4. Not defined "limits" for BTC withdrawals (could be anything). <------- Prevents a bank run.

5. Claimed they will have more info by Thursday of this week (more delays as expected).

6. Still failing at running an exchange at world-class level.

Seriously they need to go away. Bitcoin doesn't need MTGOX and obviously MTGOX doesn't believe it needs to operate in the best interest of their customers.

Gimmoroy

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Quote from: pleiotropik on February 17, 2014, 10:06:40 AM

You will understand the meaning of the word "eternity" as defined by mtGox..."Soon"... Grin

It's time to understand eastern philosophy.....

brokenchair

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How many times is Mt Scam going to claim they fixed the problem and are resuming withdrawals?
So they have done this twice.
Each time they don't deliver the price drops a little more.
Fool me once shame on you, fool me twice shame on me, fool me three times ......they don't even have a saying for that one since it means the person would have to have the intelligence of a potato.

pleiotropik

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You will understand the meaning of the word "eternity" as defined by mtGox..."Soon"... Grin

dserrano5

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Quote from: ?? on ??

Just wait and sea .. 1 hope resume soon, so people can withdraw. Keep watch mtgox news

What's that shady link hxxp://sh.st/5YYv you're posting? Guys beware of that, I for one am not clicking on it.

bananas

sr. member

Activity: 364

Merit: 257

Quote from: yelloyello on February 17, 2014, 09:53:21 AM

Maybe this helps. After a month of silence, today I had communication with MtGox.
(I have a small amount of money there.)
But I was surprised to receive a personal mail, out of the blue.
Maybe its gonna live again, I hope for you all!

It seems it will, but by holding people funds against their will.

yelloyello

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Maybe this helps. After a month of silence, today I had communication with MtGox.
(I have a small amount of money there.)
But I was surprised to receive a personal mail, out of the blue.
Maybe its gonna live again, I hope for you all!

bananas

sr. member

Activity: 364

Merit: 257

You will NOT be able to withdrawal from Gox even when they resume it:

"At the beginning we will do so at a moderated pace and with new daily/
monthly limits in place to prevent any problems with the new system and to take
into account current market conditions. "

They will put enough limits to avoid people moving their funds somewhere else for safety. Actually that's the only reason they are currently holding fiat currency, and it is at least morally wrong if not illegal.

"At the beginning " you read as several months.
"current market conditions. " you can understand as their own condition;

Jay-c

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Quote from: WalutowyKrol on February 17, 2014, 09:32:27 AM

Maybe it is now again in game but here we see disadvantages of our system. One stock exchange has problem and BTC dive down. There should be some regulations. Now what? They will work like nothing happend?

Only a newbie to BTC so I'm sure someone will correct me if I'm wrong here,

but one problem I find is that there isn't one solid BTC price per currency (ie USD,EUR,GBP etc). The BTC "price" is essentially exclusive to the exchange that lists it. A 50% sway recently due to MTGOX is just ridiculous.

The community would be better nominating a reliable and neutral body to keep tabs on factors and nominate a price. Shit like this just wouldn't happen then.

I'm sure there's a reason why this hasn't happened if I can think of it off the top of my head, hope someone can explain.

bobalo

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I seriously don't know who can continue to use MtGox after shit like this? I personally will never touch that website

WalutowyKrol

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Maybe it is now again in game but here we see disadvantages of our system. One stock exchange has problem and BTC dive down. There should be some regulations. Now what? They will work like nothing happend?

DooMAD

legendary

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Leave no FUD unchallenged

Quote from: Jay-c on February 17, 2014, 09:17:18 AM

Mt Gox resuming will slowly push the price back up. Hope you all got your cheap BTC!

Or better yet, don't fall for such an obvious and desperate ploy (or that you're getting it from somewhere other than gox). I could say I'm selling 1 BTC for $1, but if I never plan on giving it to you, you're still wasting your money. Don't send a penny to gox because they can't be trusted with it.

Jay-c

newbie

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Mt Gox resuming will slowly push the price back up. Hope you all got your cheap BTC!

anthonyli

newbie

Activity: 5

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As for me, what a fucking MTGOX? It really disappoint me

serje

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Quote from: Joohansson on February 17, 2014, 09:06:25 AM

Quote from: serje on February 17, 2014, 08:56:41 AM

Is blockchain down now? Huh

Server maintainance according to twitter.

thanks!

Joohansson

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Quote from: serje on February 17, 2014, 08:56:41 AM

Is blockchain down now? Huh

Server maintainance according to twitter.

serje

legendary

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Is blockchain down now? Huh

DooMAD

legendary

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Leave no FUD unchallenged

I still think when they resume withdrawals it should be a mass exodus. Take everything out, put nothing in. Leave them to die before they do any further damage.

If your real world bank told you that you can't have your money, you'd dump their sorry arses in a heartbeat and move to another bank. Why anyone would continue to trust these inept halfwits with their money is beyond my comprehension.

Quote from: jubalix on February 17, 2014, 07:03:45 AM

is this LTC on Gox soon?

If they weren't incompetent they'd have done that months ago. Even if they do manage to find a member of staff with two braincells to rub together and eventually figure it out, I hope no one uses them.

cwfabc

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good news

user2

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Quote from: btcash on February 17, 2014, 07:46:19 AM

...
You have no prove that Mtgox shared their financial situation with Blockchain.info.

You think insider trading based on non-financial information is okay?

LiteCoinGuy

legendary

Activity: 1148

Merit: 1014

In Satoshi I Trust

Quote from: jubalix on February 17, 2014, 07:03:45 AM

is this LTC on Gox soon?

yeahh

... they like that word...

descarte

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Activity: 195

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finally, we are going to get some stable value for bitcoins

gamecenteruk

newbie

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this is a very sad news, blockchain only helped bitstamp and mtgox, but for normal users, they do not care.

gollum

sr. member

Activity: 434

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In Hashrate We Trust!

MtGox says "invalid OTP" when I try to withdraw coins.

hostmaster

sr. member

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Finally! Let the BTC rock!

BitCoinNutJob

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Quote from: btcash on February 17, 2014, 07:46:19 AM

Quote from: BitCoinNutJob on February 17, 2014, 07:29:07 AM

and btw roger ver of blockchain you are breaking inside trader laws - sorry to call you out you seem a nice guy but you associate with gox & i want my BTC ASAP not 3 months time thanks

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

roger ver buying up gox coin

https://bitcointalksearch.org/topic/m.5111950
again, im sorry, just angry

I did the same. You don't need to be an insider to be smart.
You have no prove that Mtgox shared their financial situation with Blockchain.info. They worked together on an alternative TX-Id.

Are you kidding? roger ver claims he saw their bank accounts & financial situation.... no numbers have been publicly released

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

This is very close to the definition of inside trading. I assume you are just a customer like me? (your trades do not matter the same)

btcash

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Quote from: BitCoinNutJob on February 17, 2014, 07:29:07 AM

and btw roger ver of blockchain you are breaking inside trader laws - sorry to call you out you seem a nice guy but you associate with gox & i want my BTC ASAP not 3 months time thanks

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

roger ver buying up gox coin

https://bitcointalksearch.org/topic/m.5111950
again, im sorry, just angry

I did the same. You don't need to be an insider to be smart.
You have no prove that Mtgox shared their financial situation with Blockchain.info. They worked together on an alternative TX-Id.

cypherdoc

legendary

Activity: 1764

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Having the biggest online wallet synced up with gox will only be a good thing.

seriouscoin

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Activity: 658

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Quote from: hgamezoom on February 17, 2014, 07:41:02 AM

Why they need so long time to implement a new withdrawal system?

Maybe simply just want to earn more trading fees and do more arbitraging during the panic period.

No simply Mark and Roger want CHEAP COINs.

hgamezoom

full member

Activity: 141

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Why they need so long time to implement a new withdrawal system?

Maybe simply just want to earn more trading fees and do more arbitraging during the panic period.

miguodong

newbie

Activity: 41

Merit: 0

What is the exact time?

BaalMcKloud

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Quote from: EvilPanda on February 17, 2014, 07:02:25 AM

Quote from: Joohansson on February 17, 2014, 06:51:33 AM

Thanks to our friends at Blockchain.info, MtGox now has a workaround that will
use a unique identiﬁer created by Blockchain to show whether transactions have
been modiﬁed or not. This will prevent any fraudulent use of the malleability
issue and protect the assets of our customers.

With this new system in place, MtGox should be able to resume withdrawals
soon...[/b]

https://www.mtgox.com/img/pdf/20140217-Announcement.pdf

*gg*

made my day Cheesy

seriouscoin

hero member

Activity: 658

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Roger Ver and Mark are gay couple and yes.... they should be jailed for inside trading.

This world is full of scumbags like these and bitcoin only attract the best of them.

BitCoinNutJob

legendary

Activity: 1316

Merit: 1000

and btw roger ver of blockchain you are breaking inside trader laws - sorry to call you out you seem a nice guy but you associate with gox & i want my BTC ASAP not 3 months time thanks

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

roger ver buying up gox coin

https://bitcointalksearch.org/topic/m.5111950

again, im sorry, just angry

aussieminer

newbie

Activity: 4

Merit: 0

wait so it wasn't the illuminati that was intentionally driving the bitcoin price down in order to divert funds to the US government to fund an organization of underground crab people?

The conspiracy theorists will soon need to eat crow.

BitCoinNutJob

legendary

Activity: 1316

Merit: 1000

time to contact blockchain.info & see whats up?

jubalix

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Merit: 1022

is this LTC on Gox soon?

EvilPanda

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Activity: 658

Merit: 500

Small Red and Bad

Quote from: Joohansson on February 17, 2014, 06:51:33 AM

Thanks to our friends at Blockchain.info, MtGox now has a workaround that will
use a unique identiﬁer created by Blockchain to show whether transactions have
been modiﬁed or not. This will prevent any fraudulent use of the malleability
issue and protect the assets of our customers.

With this new system in place, MtGox should be able to resume withdrawals
soon...[/b]

https://www.mtgox.com/img/pdf/20140217-Announcement.pdf

elavenil

full member

Activity: 182

Merit: 100

At least they are working on to solv ethe problem

Barek

full member

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Gee, they sure are slow.

Joohansson

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Merit: 102

Thanks to our friends at Blockchain.info, MtGox now has a workaround that will
use a unique identiﬁer created by Blockchain to show whether transactions have
been modiﬁed or not. This will prevent any fraudulent use of the malleability
issue and protect the assets of our customers.

With this new system in place, MtGox should be able to resume withdrawals
soon...

https://www.mtgox.com/img/pdf/20140217-Announcement.pdf
http://www.coindesk.com/mt-gox-bitcoin-withdrawals-will-resume-soon/

Moderator action: edited misleading subject line

Topic: NEWS: MtGox should be able to resume withdrawals "soon" (Read 9548 times)