Small protest outside of Mt Gox's HQ - "Where's our money?"

[TopWargamer]

http://www.theverge.com/2014/2/19/5425220/protest-at-mt-gox-bitcoin-exchange-in-tokyo

 

 

Bitcoin trader Kolin Burges started the protest last week, flying from London to seek answers about Mt. Gox's ongoing moratorium on withdrawals. Although Bitcoin's market price is volatile, the currency has nearly halved in value at Mt. Gox from $950 earlier in the month to $558 today, sparked by a crisis in confidence in the exchange's solvency. Burges started staking out the headquarters on Friday, a day that saw heavy snowfall hit Tokyo for the second time in a week, and, despite brief confrontations with Mt. Gox CEO Mark Karpeles, is continuing the protest. "It's pretty much secretive," Burges tells The Verge. "There's no real statements about whether they still have people's money, or whether they're solvent." Burges, who has 250 bitcoins in his Mt. Gox account, says he plans to keep up the protest until he gets an answer.

 

Sure it's a very small protest, but at least it's something. This is a problem though, and Gox and all of the other exchanges affected need to take care of this as soon as possible, because the big 3 Bitcoin exchanges -- Mt Gox, BTE-e, and BitStamp -- have all essentially shut off people from withdrawing their Bitcoins and other cryptocurrencies from their exchanges. As of right now, there is no word from Gox, or any of the other exchanges, on when they will be allowing users to withdraw their money. 

 

As a side note, I'd just like to say that this has personally affected me as well. I have ~4 Litecoins in limbo right now, because I withdrew them from BTC-e right after they closed off withdrawals, and I didn't know that they did at the time. The coins aren't even showing up in my BTC-e account anymore, nor in my Litecoin wallet. So I may or may not be out ~4 LTC, but who knows. I've contacted BTC-e support, and they're basically been 0 help. 

[MrImnotMLG]

Everyone who doesn't work at the exchanges' reaction (to the lockout):

[helping]

Well at least Cryptsy is working, right?

 

better go get my tinfoil 

[carolkarine]

I used a service based in Seattle to move my coins, and they were great. To be fair, I have never used gox cause I was just mining and selling for USD.

[TopWargamer]

Well at least Cryptsy is working, right?

 

better go get my tinfoil 

Ya. I'll be moving my Litecoins back into my wallet SO FAST once we can start withdrawing our cryptos from BTC-e again. Needless to say, I've learned my lesson, and am now going to store my Litecoins locally in my wallet, and then sell them using either Cryptsy or Coinbase. I mention Coinbase because they deposit USD directly into your bank account, which is nice, and probably the safest route to go. 

[helping]

Ya. I'll be moving my Litecoins back into my wallet SO FAST once we can start withdrawing our cryptos from BTC-e again. Needless to say, I've learned my lesson, and am now going to store my Litecoins locally in my wallet, and then sell them using either Cryptsy or Coinbase. I mention Coinbase because they deposit USD directly into your bank account, which is nice, and probably the safest route to go. 

eh, i'll just bank my doggies in multipool for now

 

no reason to move it really. 

[TopWargamer]

eh, i'll just bank my doggies in multipool for now

 

no reason to move it really. 

True I guess, but eventually you'll have to get the USD from your Crpytsy account to your bank account, and honestly, the easiest way to do that is through Coinbase. 

[helping]

True I guess, but eventually you'll have to get the USD from your Crpytsy account to your bank account, and honestly, the easiest way to do that is through Coinbase. 

pft, nah, too much profit garnishing. I convert straight to Amazon/Newegg credit. Conversion rate of LTC to Newegg pesos is like 52/50. 

[TopWargamer]

pft, nah, too much profit garnishing. I convert straight to Amazon/Newegg credit. Conversion rate of LTC to Newegg pesos is like 52/50. 

Woah woah, wait what. You can do that? How do I do this and where do I do this?

[helping]

Woah woah, wait what. You can do that? How do I do this and where do I do this?

https://www.ltcasics.com/

 

current rate is 52.33$ LTC to 50$ Newegg USD @BTCe.

 

for dogs and BTC I usually use http://coinverted.com/

[TopWargamer]

https://www.ltcasics.com/

 

current rate is 52.33$ LTC to 50$ Newegg USD @BTCe.

 

for dogs and BTC I usually use http://coinverted.com/

You have no idea how much I love you right now.

(No homo)

 

Now all I need is for BTC-e to release my funds...

[TopWargamer]

 

FYI, I just got my Litecoins from BTC-e, so I guess their exchange is up and running just fine now. So aw yush, time to buy stuff using my Litecoins. 

[helping]

FYI, I just got my Litecoins from BTC-e, so I guess their exchange is up and running just fine now. So aw yush, time to buy stuff using my Litecoins. 

just remember to add in the fee to total transaction or else you'll be like .005 LTC short and that's well below withdraw threshold, so then you end up overpaying unless you feel like bothering CS. 

[flibberdipper]

People in this world are too materialistic sometimes. That is the word I'm thinking of, right?

[TopWargamer]

just remember to add in the fee to total transaction or else you'll be like .005 LTC short and that's well below withdraw threshold, so then you end up overpaying unless you feel like bothering CS. 

BTE-e automatically takes out the fee, so I was able to withdraw every bit of Litecoins that I could.

[Ineko]

Well that's what you get when you invest in an extremely volatile imaginary currency.

[Misanthrope]

It occurs to me, that the reason why currency is regulated is precisely because of things like this. On the other hand, if you take into account Fiat currency and Fractional Reserve Banking along with private interests controlling central banks, maybe we oughta go back to trading in salt and goats.