Post
Topic
Board Legal
Re: Mt.Gox Multi-plaintiff Suit
by
sturle
on 16/03/2014, 16:26:05 UTC
The delays in fiat withdrawals continue, particularly for USD. Since these are not properly disclosed (or even the need to pay the 5% fee for a "manual withdrawal") on the website
The reason for the 5% fee is explained very well.  They can't send from their normal bank, and have to transfer the funds via domestic transfer first.  This makes two currency exchange fees at 2.5% each, which is a common currency exchange fee in Japanese banks.  USD -> JPY -> USD.  You are obliged to cover the bank fees (see the ToS).  You can find the currency exchange fee the multi-currency trading FAQ.

The reasons for JPY and EUR delays are properly explained IMO.  The reason for USD delays are not explained for legal reasons which they aren't allowed to talk about.  All USD transfers must pass through a US bank, which gives the US government full control.  MagicalTux have given plenty of hints on IRC and Twitter that the US government is involved in blocking those.  Good luck in getting a Japanese court to overrule the US government regarding USD transfers.  AFAIK all attempts of legal action against MtGox in the US to get USD out have failed, and to this day I haven't got a proper explanation of why all the attempts have failed.
I think we all know why the 5% fee existed.

MTGOX WAS RUNNING A PONZI AND WERE INSOLVENT FOR QUITE A WHILE ON THE FIAT END AS WELL AS THE BTC END.
Why are you saying one thing first, and then yelling the opposite?  You don't make sense, as usual.
Quote
You supported them and shilled for them and now are silent on the main GATHERING thread. Run away as you have been proven to be wrong on all of your claims about how MTGOX is such a "great" place to buy and sell Bitcoins blah blah blah.
I never supported MtGox, and I left the bullshit thread a long time ago.  I was back briefly to tell you about the EUR withdrawal which just arrived (when everyone claimed withdrawals didn't work, btw), and there wasn't a single post on the page which was worth spending two seconds on.  The page was already quite empty due to ignored people who never posted anything worth reading.  I didn' bother to read the rest.