Bitcoin Forum

Just received this e-mail:

DWOLLA


As of 12:13 PM on 5/14/2013:

You’re receiving this notice because our systems have indicated that you’ve processed and completed a real-time Dwolla-to-Dwolla payment to Mutum Sigillum LLC (“Mt. Gox”) within the last 24 hours.

Due to recent court orders received from the Department of Homeland Security and U.S. District Court for the District of Maryland, Dwolla is no longer legally able to service Mutum Sigillum LLC’s account.

This is a courtesy email encouraging you to follow up on any uncompleted orders with Mutum Sigillum LLC as Dwolla is now unable to move money to and from Mutum Sigillum LLC’s Dwolla account.

Dwolla is not party to this matter nor does it have any information or further insight into the situation. We strongly encourages those with questions to contact Mutum Sigillum LLC

Note: Dwolla requires a court order before honoring requests such as seizing funds or revoking access to an account.

On behalf of Dwolla, we apologize for this inconvenience.

Yes just got that email....after 2 weeks of waiting for my acct to get verified...and just putting more money in. I guess will have to use CampBX and Coinbase to get money out now.

Yep.  Getting this message when trying to send to mt gox from dwolla:

"This account is unavailable currently. For information, please contact the merchant or individual directly."

I've only used Dwolla.  What is the next best way to get USD to mtgox?

wow

Wow. Yet another reason not to deal with MtGox.

Is this related to the Coinlabs lawsuit?

What's the best way in the US to get USD out of BTC? Coinbase?

This makes me nervous although I'm sure all is ok. I'm going to transfer my funds out of Gox for a day or two until everything calms down.

I can use Dwolla with CampBx and they are based in the USA (just 10 min from me actually) so will move funds there and also will try Coinbase although they charge a fee while CampBX does not.

This makes me nervous although I'm sure all is ok. I'm going to transfer my funds out of Gox for a day or two until everything calms down.

I can use Dwolla with CampBx and they are based in the USA (just 10 min from me actually) so will move funds there and also will try Coinbase although they charge a fee while CampBX does not.
[/quote]

It found it far cheaper to use Coinbase to move from BTC to USD than to use CampBX.

This is not great news :(

https://i.imgur.com/My8vaQm.png

Ironically it made it to 110$ while uploading the picture.

http://www.youtube.com/watch?v=1lWJXDG2i0A

How do you find it cheaper when Coinbase charges 1% and CampBX charges 0%?

What's not to understand? Dwolla just denied further dealings with Gox, a bunch of cash is in limbo and once more the exchange falls into retardolag mode as soon as someone just as much as sneezes.

i've had a long time Dwolla acct and i've not received any email...

It seems I have made an error now that I review the FAQ which I would swear the ink is wet on. Even then it clearly states that ACH withdrawals incur a flat $2 fee which while can be cheaper than 1% is certainly not free.
https://campbx.com/faq.php#fund-transfers

I just got this email as well.  Worried me because I had just moved some money, but apparently I got in under the wire.  I think I'm done with MTGox and Dwolla.  I already have a bitstamp account, CampBX seems to be down right now, and I'll check out  Coinbase.  What other exchanges are worthing looking into here in the US?

Thanks,

-Jay

Have you had a transaction with MtGox lately?  I doubt they sent this to all their customers.

-Jay

Wait1 week for optimum buy opportunity? Dwolla always kinda sucked anyway...

WTF is this DHS court order from Maryland?  Now those twats have to get involved in the pile-on?

Yup this mean the price of BTC is going to drop. So it could very well be good news. At least for those who wish to invest more.

I want to understand why Dwolla is no longer allowed to do business with Mt Gox.  That letter said literally nothing, except "Sorry you lose" over and over again.

Do you need one, when Dwolla cancels their account?

No, no there isn't. Several dozen people on BTCTalk and Reddit just decided to go post about the same email they got at the same time. It's a flashmob.

Wow talk about good timing, I emptied my Gox account via Dwolla two days ago.  Beginning of the end for MtGox I think, and good riddance.

Now is a good time to gamble with your bitcoins lol

A lot of people are panicking in the wrong direction.

If this is true, the last thing you should do is sell your BTC on Mt Gox for USD, because you might lose access to those dollars for an indefinite period of time. A more productive way to panic would be to buy up as many BTC as possible and withdraw those.

You can't cure stupid :P

Yes it's best to transfer bitcoins to another exchange, sell there and get your money out safely, instead of MtGox

And then go to another exchange and crash there.

What about keeping the BTC? Not a valid option, or...?

Yup this is the best course of action and it will give much needed liquidity to other exchanges and away from Gox.  I was concerned about the lawsuit so I moved the remaining fiat out of my Gox account in case SHTF down the road with the lawsuit.  I didn't think anything would happen this quickly although we don't know if the two are related or not.

I'll probably do purchases going forward via Coinbase (have used them multiple times in the past, great service).  Fiat stays in my FDIC insured bank account until I need to make a purchase, then I move the BTC out of Coinbase once the ACH clears to a paper wallet.  Minimizes the time you have to trust these exchanges.

I figure people that want to withdrawal USD from MtGox and buy bitcoins to transfer them to another exchange to sell them would still want to withdrawal their USD.

http://betabeat.com/2013/05/department-of-homeland-security-shuts-down-dwolla-payments-to-and-from-mt-gox/

Absolutely true.  

I have used this for my transfers, and not had a problem or delay:
https://www.aurumxchange.com/

Yes, this is probably what's happening  :P

DexX7, here is your outside source: http://betabeat.com/2013/05/department-of-homeland-security-shuts-down-dwolla-payments-to-and-from-mt-gox/

Make a withdrawal from gox.  You'll get an email instead of your withdrawal.  I figured this could be a hoax so I threw a dollar at DHS :)

Amen!

here comes...... Streisand!?

Or just use international bank transfer or another method to save you some trouble and get a better price for your coins.  (Unless you only have a tiny amount to sell, which any exchange can handle.)

I don't quite understand the drama this causes.  SEPA withdrawals are delayed 4 weeks now, and have been disabled many times.  This hasn't caused much disruption to the price.  Only 30-40% of MtGox customers are based in the USA, and almost all of them have other options to get money in and out of MtGox.

Your attempts to downplay this look pretty silly.

On the plus side, now we'll get to find out whether most of Dwolla's usage is, in fact, for moving dollars from the USA to MtGox and viceversa.

If that's the case, the people who really need to be concerned about this news are the Dwolla employees and the VCs and angels who have done Dwolla funding rounds.

This.  Just wondering if anyone knows of anyone who has used Dwolla for non-Bitcoin related purchase.   Being conservative I would say at least 75%+ of their volume is Bitcoin related and in reality it is probably 95%+.

The forum chain at https://bitcointalk.org/index.php?topic=205370.0 is longer than here, so it wins, and I'm locking this forum chain fork