Post
Topic
Board Exchanges
Re: MtGox withdrawal delays [Gathering]
by
sturle
on 09/08/2013, 19:49:26 UTC
I'm helping Norwegian customers withdraw, at the same time reducing the number of withdrawal requests from MtGox, by automated buying of bitcoins for NOK at a rate 1% below best MtGox bid.
You really shouldn't so that, it will be taken advantage of by arbitragers. Yes, the money will be locked up for a short while, but they can probably earn 6-8% profit/round trip with minimal risk by buying coins on Bitstamp and selling to you. That's a lot of money to give away.
I've had SEPA transfers to Bitstamp take a week, and I don't want to trust them with a lot of money due to dubious legal circumstances.  Low amounts + time means I get liquidity problems myself unless I can buy faster.  If other people want to take the risk, it is fine with me.  I do send money to Bitcurex for easy arbitrage, but the volume is rather low there.