Post
Topic
Board Exchanges
Re: MtGox withdrawal delays [Gathering]
by
CompNsci
on 24/09/2013, 16:05:03 UTC
the hard cold facts seems to indicate that: a) Gox is an honest company, but they are withholding information regarding why they are having these problems, and in fact they are probably lying; b) they are heavily delaying outcoming wires, while incoming wires work just fine (ohhh... No "overwhelming" with incoming money?). Everything strongly indicates they are having liquidity problems, and that they have been forced by circumstances (seizures, Coinlab misappropriation) to run a fractional reserve.

Nice summary.

Meanwhile, bitstamp volume continues to exceed Mt. Gox volume of actual trades by at least 50% each day.

I think there is a message for Mt. Gox management here to become more transparent about what is going, or the business is going to end up failing. There is nothing inherently wrong with charging a larger fee for withdrawing funds. Deliberately mis-representing the facts and not making clear those fees on the website is a different matter, which will ultimately destroy trust in Mt. Gox and lead people to use other exchanges.