Hacker News Reader

Currency of the future. I've also been waiting on my second withdrawal forever.

Your withdrawing in your local currency, right? The problem is with Mt. Gox and their ability to give you fiat, not Bitcoin.

Yeah, and what do you think would happen to Bitcoin if all the exchanges vanished? How long do you think the Bitcoin economy can survive on its own?

The reality is that for the majority of its users, Bitcoin is not a currency; it is just a way to make payments in other currencies.

So it's like gold, but better.

The best way to withdraw money from mtgox is to post a sell ad on bitcointalk.org in the currency you wish to withdraw, set your price about 3-5% above daily average (as long as that is at or below the cost to buy coins immediately) then sell the coins to someone for a bank transfer in your local currency, saves having to wait weeks for your money.

I suppose you've talked to support about this? What's their excuse?

They say the bank processes a queue and there's nothing they can do to speed it up. Every couple of days a support guy leaves a message on my support ticket stating that they're still waiting for the bank to process stuff. MtGox is very obviously in over their head.