Post
Topic
Board Speculation
Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion
by
virtualfaqs
on 29/01/2014, 03:46:59 UTC

There are people who can get fiat out of Gox - Japanese. But it's not consistent enough to do any major arbitrage unless yesterday was what was happening.

really? Name one. One fucking person who has had a successful fiat withdrawal this year. Cuz that bastard's got my money.
Here are some, but even JPY is way backed up (which is not normal):
 
I am a Japan resident. Posted a withdrawal on the 5th of January, was in my account 9 business days later.

You can find me in the epic bitching thread saying as much.
Requested 1/7 withdraw processed today 1/28.   Waiting on a 1/10.

Thank you. That's informative. Perhaps it's the Japanese government who is facilitating this theft for the benefit of its citizens. If so, they are killing a golden goose.

And this guy.

I have decided to stop wasting time here, and let you all feed the panic instead.  It is much more profitable.  I managed more than 18% on my last round of arbitrage, all fees included.  I wonder if I'll be able to get 25% on the next.  Grin

Please keep panicing!  Never search for the true answers; make up your own!  Don't ever believe it is possible to withdraw anything!  Don't believe arbitrage is possible.  Please keep spreading rumours that MtGox are broke, etc.  I've never made this much money with no risk and almost no work!  I'm in my last week of full time employment.  From now on I will make a living out of the price difference between Panicstamp and MtGox, and my bot of course.  You guys!  I love you all for making this possible!

For all the other arbitragers who are making good money on spreading FUD here: I think you are a bit dishonest, and there is no need to.  The clueless people here are fully capable of creating a panic for themselves.

OK, I can't resist revealing some information about JPY withdrawals.  Last known processed is from January 5th.  Reason for the delay is 9 days of closed banks (Mizuho) and this:
Quote from: MagicalTux on #mtgox
07:19 <@MagicalTux> jpy withdrawal delays come from the fact there are more withdrawals than deposit, so we need to convert usd/etc to jpy, then send it to our japanese bank, which takes time and has limits much stricter than other transfer methods
The daily limit is 100 million JPY, btw.

For everything else there is not much new.  You will find the answers on previous pages in this thread.