those bastard owes us more than this and i m willing to show them how to deal with customers money

So it fits the FAQ information on gox about SEPA: https://support.mtgox.com/entries/21649594-Withdrawals-and-Deposits

True, but i doubt "user pays fees to third parties" is illegal.  To murder someone is illegal under most circumstances.  To pay a fee is not.  If paying fees is illegal, you may have a case against all Bitcoin exchanges and most banks as well.

At this point, it's fair to say they are emptygox. Look at the historical order book chart: http://www.blockchained.com/depth_mtgox.png. Only in August 2012 have there (briefly) been fewer Bitcoins on MtGox because ask orders were wiped in a technical problem.

Furthermore, their market share, even including all currencies, is continuing its slow descent, sending emptygox more and more into irrelevancy. On many days already, mtgoxUSD is #2 or #3, and it is not long anymore until that is true for the 30d scale as well, for the first time.

Of course this could have all been stopped or delayed by simply being honest with their customers. The last update on the matter was on 5th of August, and it did not explain WHY they cannot seem to find a single bank that does not have ridiculous limits nor HOW and WHEN they are planning to move forward and ensure people will ever see their USD again without having to resort to a haircut.

Customers do not even know the realistic time for a SWIFT withdrawal, where the backlog reaches to mid June, over 4 months old. On the withdrawal page, it will merely tell you to expect "2 weeks" or more depending on amount. This has caused many losses as people are unable to plan.

Currently, the best option would probably be to either shut down mtgoxUSD trading entirely as it is not anymore a market (a market is where buyers and sellers meet) or alternatively to disable SWIFT withdrawals except for the only actually working option, that is the emergency/manual withdrawal.

Cancel withdraw, withdraw BTC, sell @ other exchange for a loss.

Ya, kinda like Mt. Mazama --> Crater Lake in my state of Oregon.


So true.  I was, and still am, favorable to Mt. Gox, but I drew down my account to near zero because they cannot or will not provide basic information I need to make rational decisions.  If they could have found a way to be forthright about their problems there is every possibility that I would use them as my primary means of conducting business in Bitcoinland, and that I would be pretty accepting of delays and hassles.

I continue to believe that most of Mt. Gox's problems are something they regret deeply but have no power to control.  Even so, if they cannot provide information I need then they are useless to me.

It is completely possible that they provide good service to a sub-set of their more desirable customers, and if that is the case I could see a business rational both for them doing so and for such customers to continue to patronize them.  But I am probably going to be bringing a fair amount of BTC to the market over the coming years.  If BTC liquidity is something that an exchange needs (and looking at their public information through the various charting services it seems to be likely) then scaring away customers in my category seems short sighted.


I would not count Mt. Gox out just yet.  Yes, they have lost their 10x advantage in terms of BTC liquidity (and if they retain it by burning their own sizable stash that is unsustainable) but they have a long and relatively good track record.  At least by Bitcoin-land standards.  If all competition who reaches a certain size runs into the same problems, Mt. Gox could limp along competitively.

Mt. Gox's biggest danger seems to me to be that one of their competition gets favorable treatment by the regulators and banks as a means of guiding the Bitcoin userbase to a watering hole with is, for some reason, desired by the corp/gov power structures.

woah 100 pages, i am so glad i moved my accounts out months ago... what a time sink

MtGox are very careful of what they say in public due to the ongoing case with the DHS and the process with FinCen.  It is a delicate situation.  I am sure relevant government representatives get all the information they request.  Care to tell what your question was?

I sold some coins in the middle of July and early August, did 2 withdrawals (few days each after each sale) to my US bank account, and still nothing. I've talked to them numerous times, always being courteous, but I'm still getting the ring around. In august, they told me 2-3 weeks, now they simply say, "we've got a backlog and working on the queue." To add insult to injury, I recently received an email stating that they can "manually" process my transfer for a 5% fee if I am in a hurry for funds, essentially quadrupling the $60 charge for 2 wire transfers, and when I asked how long this other process would take, they still did not give me a timeline. Why are you even offering me this other process if you don't know how long this takes? Honestly, at this point, I'm moving my bitcoins out because they are just being scumbags. As good as they were, they won't be anymore at this rate.