Silk Road forums

Discussion => Security => Topic started by: chronicpain on January 27, 2012, 05:28 pm

Title: why is mt. gox having these issues?
Post by: chronicpain on January 27, 2012, 05:28 pm
I have tried to transfer out a couple thousand over the past week. Normally, its transferred asap. But, these last two are taking forever. the response that I've got from Mt. gox is that they cant transfer money until there is enough money in the account. WHAT???? They also said that there are a lot of people transferring money out and it may take some time..

This isnt my problem. My money is my money. If i want it now, I should get it now. This makes me  nervous. it reminds me of what happened in the great depression. people withdrew all their money until there were no more. If they are having issues completing withdrawal requests, then I suggest they put a limit on the amount that can be withdrawn in a day or whatever. This is unacceptable...
Title: Re: why is mt. gox having these issues?
Post by: pine on January 27, 2012, 08:25 pm
I feel your pain. Only I'm having troubles getting money IN B$ (!)

Truly isn't as easy to be anonymous in today's society as most people seem to think.

Just today, I had 4 separate ID requests over trivial matters.

As for your MtGox problems, it sucks but the supply and demand of Bitcoin is so volatile that I would guess this is a periodic episode of market madness.

Just gotta wait it out I guess. Suggest Milk of Magnesia for the butterflies (works for me :) )

I think Bitcoin badly needs some manner of derivatives market to help dampen down the volatility.

I'm guessing that B$ would be less volatile with a more diversified base of products/services using the currency. But that'll take time. Right now, B$ is similar to a 3rd world country currency whose industry is mostly agri cash crops and so their currency really reflects the price of bananas etc.

Similarly with B$, except I think the Silk Road is the main thing backing the currency. A 'Weed' monetary standard instead of bananas. Not sure how much of our business is a % of Bitcoin economy, but it's got to be considerable.