Bitcoin Forum

If you want to panic then get your money INTO bitcoin and transfer your money out of the exchange.

The US government can kill bitcoin more easily than bitcoin can kill the US dollar right now.

At the end of the day, if you live in the US, you will have to pay your taxes in US dollars. That will always be true.

Easier said than done.  Unless you have the maximum level of Mt.Gox verfication, you can only send 100 BTC out per day.  For larger accounts, there is no choice but to have either $ or BTC sitting in Mt.Gox.  

actually nope, you only need the Verified (not Trusted level) to have 1k BTC out per day.

The 1K refers to $1,000 USD.  It is only 100 BTC per day. 

That's only for unverified accounts.

Is there a way to change the limit in the security settings section?  I have a verified account and when I go to the withdraw tab it says I have a limit of 100 BTC per 24 hours. 

You have to email or use their live chat, they'll up it.

 Your account currently has a "Verified" status; you can update your account to a "Trusted" status.

    BTC : You can still withdraw up to 100.00000000 BTC provided you have enough on your account (your limit is 100.00000000 BTC per 24 hours )
    USD : You can still withdraw up to $1,000.00000 provided you have enough on your account (your limit is $1,000.00000 per 24 hours and $10,000.00000 per 30 days)

“Trusted” Accounts are eligible for the below withdrawal limits:

Traditional Currencies
Daily withdrawal limit (24hrs): 100,000 USD (or equivalent)
Monthly withdrawal limit: 500,000 USD (or equivalent)

Bitcoin
Daily Bitcoin withdrawal limit (24hrs): 10,000 BTC
Monthly Bitcoin withdrawal limit: none

In order to apply for the “Trusted” account status, you need to get a notarized copy sealed with an apostille for the following documents:

    A copy of your (valid) government issued photo ID (passport, permanent residence card or driver’s license) and
    A copy of either your monthly utility bill (power, phone, TV, gas, water, etc.) or a certificate of residency issued by your local government.

Or plan ahead and don't keep more than you withdraw on the exchange.  I removed all my bitcoins from every exchange a while ago, and I'm happy I did.  I'm fortunate to be in a position capable of weathering any reasonable (for bitcoin) price volatility (to the downside, more specifically) and given that bitcoin is getting a lot of attention lately, and lots of laws are untested and/or undefined, I don't want to have any BTC or USD sitting somewhere where I don't have exclusive control. 

Yup.

All the BTC I keep out on the 'net these days is a few dozen on Coinbase, to sell during ridiculous price spikes.

Thanks, I didn't realize that.  However, I can't find a live chat option.  How do I get to live chat? 

There's a speech bubble icon next to the facebook link at the top of most pages. Their live chat is pretty temperamental though, I've only got through a couple of times. Remember it's only 8am there atm.

It took one email to support and 24 hours to have my limit raised from $1K a day and 100btc to $10,000 per day (or $50K per month) and 1000 btc per day.
That is, once my account was verified.
Of course, I'm paying my taxes and doing nothing illegal so getting verified was no concern for me.

mtgox doesn't check to make sure your paying your taxes, just to see that you are who you say you are.

This is certainly alarming news, but so far I'm hopeful that it's only related to some specific money laundering case, or whatever. It would be very typical of the feds to do something like that without caring how many honest people they inconvenience.

It doesn't matter what is going on, Investors don't like uncertainty.

Does anyone have any clear information regarding Dwolla?

Some people are worried, want out, and now is their escape.

Yeah but they are escaping into fiat currency they may not be able to withdraw!

I'd have thought that BTC would be going up on MTgox because everyone wants their fiat currency as far away as possible.

And when they withdraw their money would be caught right by authorities for investigations.

Its my understanding that Dwolla cannot work with Gox at all right?  Meaning anyone using Dwolla to put into and out of Gox is currently barred?

I don't think anybody is really 100% sure whats going on at this point, just that DHS is involved (or so CNET says is confirmed, but we've learnt not to trust the media by now haven't we?)

whenever I fly out of the country I always get the" cant take more than 10.000 " declaration sign to form  so probably has to with too much money leaving so fast

Ok I have a little more info. The seizure warrant came out of Maryland and it was on behalf of ICE. It seems like a financial crime investigation most likely involving either RICO or anti-structuring laws. We'll get more info in a week or so.

I started a transfer from MTGOX yesterday from USD to my Dwolla account,  and it normally only takes a few hours to do.  I knew something was wrong after 6 hours have gone by.  Now a full day and still nothing.  I have email Mtgox asking for the status.

Well, looks like they're attacking Bitcoin after all. No MtGox isn't Bitcoin, but it's obvious what this is about.

Actually that's only whenever you ENTER the country.

Forbes:
The Feds Are Cracking Down On Mt. Gox (Not On Bitcoin)
http://www.forbes.com/sites/kashmirhill/2013/05/15/the-feds-are-cracking-down-on-mt-gox-not-on-bitcoin/