Is MTGox is problematic for withdrawing fiat or just for USD? That's because I may interested to sell BTC for € at their BTC "inflated prices"
I believe it's only USD, unless it has moved onto other fiat too. 
Topic: What is wrong with MTGox? (Read 1344 times)
Is MTGox is problematic for withdrawing fiat or just for USD? That's because I may interested to sell BTC for € at their BTC "inflated prices"
I'd recommend bitstamp.
I've had no issues with Coinbase once fully verified.
The reason Mt Gox rates are always so high is because people are having trouble withdrawing money so they are buying BTC at the elevated rates then transferring the BTC out of Mt Gox.
The reason Mt Gox rates are always so high is because people are having trouble withdrawing money so they are buying BTC at the elevated rates then transferring the BTC out of Mt Gox.
Why do so many people still use Mt.Gox when they can't take their fiat money out? Even if they can withdraw bitcoins, they can't sell it elsewhere for the same price than what they paid to buy them.
What is wrong with MtGox?
They are not authorized to handle USD withdrawals. Mtgox has their problems from time to time but in general, they can be trusted and they will fix their problems in time.
agree 100%
Mtgox is a nightmare, stay away. Plenty of alternative places out there.
I just downloaded MultiBit and made my first wallet an hour ago and have been reading up on bitcoin. I've seen a lot of disparaging posts about MTGox. Can anyone tell me what's up with that? Should I not use their services?
I will ask you to stay away from MtGox.. they have fiat withdrawal issue and you can only withdraw Bitcoin...
Bad:
Their price is higher than elsewhere
The customer service/communication is quite poor
USD withdrawals are taking 3 months +
They have had some delays at times with BTC withdrawals
Good:
They have been around for a long time
They have a publicly known CEO who is available to chat on IRC
They have strong volume
They have fairly quick withdrawals for EURO/Yen
Their price is higher than elsewhere
The customer service/communication is quite poor
USD withdrawals are taking 3 months +
They have had some delays at times with BTC withdrawals
Good:
They have been around for a long time
They have a publicly known CEO who is available to chat on IRC
They have strong volume
They have fairly quick withdrawals for EURO/Yen
There are no known issues
I requested a $1,000 withdrawal from Mt.Gox on 9/30/2013. It sat for almost six weeks with no action. I gave up and canceled the withdrawal request on 11/08/2013. Now I'm forced to exchange back to bitcoins at highly inflated prices and withdraw the bitcoins.
Mt.Gox is fine if you're just day trading, converting back and forth between fiat and bitcoin. However, if you're buying bitcoins, you get less for the money there, since they consistently trade at higher prices. If you're selling, you cannot get the cash out, so that's not really an option. So this is an overpriced, one-way exchange.
I also wonder about the long-term viability of a company that can't find a U.S. banking partner because they don't have the licenses required to provide financial services to U.S. customers. The U.S. government has already seized $5 million and closed at least 2 U.S. accounts. How long before they find some way to shut them down completely?
It's risky to do business with a company that's fighting with the U.S. government.
Mt.Gox is fine if you're just day trading, converting back and forth between fiat and bitcoin. However, if you're buying bitcoins, you get less for the money there, since they consistently trade at higher prices. If you're selling, you cannot get the cash out, so that's not really an option. So this is an overpriced, one-way exchange.
I also wonder about the long-term viability of a company that can't find a U.S. banking partner because they don't have the licenses required to provide financial services to U.S. customers. The U.S. government has already seized $5 million and closed at least 2 U.S. accounts. How long before they find some way to shut them down completely?
It's risky to do business with a company that's fighting with the U.S. government.
Mtgox has their problems from time to time but in general, they can be trusted and they will fix their problems in time.
I have no problen with MtGox!
It takes aproximately 3-4 days to verufied your account and then you can witdraw money/BTC easily.
No you can't withdraw fiat. It takes aproximately 3-4 days to verufied your account and then you can witdraw money/BTC easily.
I just downloaded MultiBit and made my first wallet an hour ago and have been reading up on bitcoin. I've seen a lot of disparaging posts about MTGox. Can anyone tell me what's up with that? Should I not use their services?
MtGox and BFL are both scam company. Just stay away from them.....
I don't think that comparison is fair.
MT.Gox is just having some issues with the rapid growth and the fact that more than 6mill USD is frozen by banks and so on.
Well from what I've heard they have alot of issues when you are withdrawaling USD from MtGox
Why Americans don't use btc-e is beyond me
BTC-e has limited funding options for American users. I tried using LiqPay but couldn't get thru their incompetence. Currently, all bitcoin brokers catering to Americans have serious shortcomings. 
I just downloaded MultiBit and made my first wallet an hour ago and have been reading up on bitcoin. I've seen a lot of disparaging posts about MTGox. Can anyone tell me what's up with that? Should I not use their services?
MtGox and BFL are both scam company. Just stay away from them.....
I just downloaded MultiBit and made my first wallet an hour ago and have been reading up on bitcoin. I've seen a lot of disparaging posts about MTGox. Can anyone tell me what's up with that? Should I not use their services?
They have been having Fiat withdrawal issues since many many months ago... so you can only buy BTC and transfer BTC... thats the main reason why the price is higher over there....
I just downloaded MultiBit and made my first wallet an hour ago and have been reading up on bitcoin. I've seen a lot of disparaging posts about MTGox. Can anyone tell me what's up with that? Should I not use their services?
If you don't mind giving away your ID, and waiting for weeks for fiat withdrawal, mtgox is okay.
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