Topic: So I guess MtGox isn't even trying anymore ... - page 4. (Read 6756 times)

And I wonder why more ppl have not caught on to being Gox'ed. These fuckers are fraudulent!

On another note, There has been multiple times within the last ~6mo that the price per btc randomly dropped to like $2 per btc... then back up to normal price... They have closed my account and friends accounts for no reason and KEPT THE BTC.

Why are they popular, because of these forums... and others that have no idea of their history.

Gox, go eat a bowl of dicks!

This is the same question I asked myself not too long ago.  I go directly from asking myself, "why are they lying to us", to concluding that there must be a reason they are lying to us, and that reason can't be good.

An honest and straightforward business should have no problem giving honest and straightforward answers.  We can't even get them to move some BTC (or sign a message) to prove they have it, and that should be simple and easy and immune to alleged AML/KYC/regulatory hurdles, and could be the first thing they could do to build faith.

Just curious, why are you still willing to buy this musical chairs nightmare off people for 97.5 cents on the dollar?

I don't think this has ANYTHING to do with AML/KYC.  I am level 2 verified, and I was told level 3 wouldn't help speed the process up.  

This part of the quote is telling:

in the past Mt.Gox has indicated that when funds are frozen due to AML they CAN'T cancel/refund the funds.  Even on amounts as trivial as <$100 coming from Dwolla they insist the funds have to remain frozen.  Mt.Gox giving me (and Inaba as another example) the option to cancel, pay even more fees converting to BTC and withdrawing without delay all but guarantees this has nothing to do with AML/KYC.

AML/KYC is a nightmare but Mt.Gox hiding behind it (either explicitly or implicitly) is an abomination.

I would point out that in my last round of 2 week delays Mt.Gox never contacted me once to verify source of funds, ask questions regarding my financial activity, or make any other inquiries.  It was simply delayed day 1,2,3,4,5,6,7,8,9,10,11,12,13,14, and then BAM the wire was finally submitted to their originating bank and I had my money 4 days later.

It is no wonder a bank wire "takes 19 days" when the originating bank doesn't even get the request (per their wire confirmation) until 15 days after I requested it.   I mean they had any more information on day 15 that they didn't have on day 1.  So what happened on day 2 to 14?

Now Mt.Gox claims this is due to Dwolla and if that is true, STOP ACCEPTING DWOLLA.  I am paying >$40 for an international wire and yet funds flow slower than a paper check sent by ground mail.  If Dwolla issues are constraining their ability to issue wires in a timely manner then they should accept Dwolla has failed and prioritize international wires.  The only possible scenario that I can think of is they are funding their Dwolla account via a US bank and using bank wires to get the funds their.  They could be running into wire limits imposed by their Japanese bank due to the volume of Dwolla they need (Dwolla funding has become very onsided, all outgoing).  Once again this is just a guess because they haven't provided any real information.

The complete and utter lack of any transparency is worse than the delays.   WHY EXACTLY does it take them 14 days to give the already approved (months ago) wire instructions to their OWN BANK.  This has been going on for two months now and delays are getting longer not shorter.  Customer have a right to know WHY funds are being delayed.

R:  If the post seems hostile it isn't directed at you.  Obviously you can't answer some of the questions they are more rhetorical in nature.

withdrawing 50k€/month, never waited > 1week for SEPA.

D&T, the points you make are fair. You got us wondering: what are the solutions to the problem? IMO, Charlie Shrem will bring us the solution. He mentioned that BitInstant will "make Dwolla redundant" through a deposit and withdrawal system they plan to implement at BitInstant. Shrem believes their major hurdles are finding a KYC verification team and getting ACH clearance.

Looks like your money has "the Gox"

Rant mode on.


Their response:


1) 3-5 days?  I wish.  Hell I would pay you a bonus if my same day wire "only" took 3-5 days.  Is 3-5 days the gox version of BFL 4-6 weeks?

2) Use another funding option?  What funding option?  Bitcoins?  Kinda useless to be an exchange where the recommend method for cashing out fiat is Bitcoins which you take to another exchange.  Please tell me the funding option I should use.  It can't be Dwolla.  It can't be a bank wire.  Is Liberty Reserve at 3.75% loss the "solution".

3) IF I cancel the withdraw and buy back Bitcoins will you refund me the useless 1% (0.5% selling the coins for funds which can go nowhere and then another 0.5% buying my own damn coins back)?  I know you won't but just pointing our how utterly shady it is to profit double at your customers expense for your own incompetence.



Rant mode off.