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People who are being so super bullish despite the US Government telegraphing their intention to do something about Bitcoin should strongly consider protecting their stack. If shit really goes down, it will be a real $110 to $70 drop and you may never see the buying pressure return. Shit gets real at this point in BTC's evolution.
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If there's bigger news in the morning about DHS launching criminal proceedings against Gox, yesterday's downswing will look mild. If the biggest BTC exchange loses the ability to do business with US clients, that's a _huge_ problem, and not at all a case of having weak hands or being too bearish.
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Isn't there any American citizen, lawyer, judge, or public employee or whatever with access to law requirement databases or similar that can provide some info on the reasons of MtGox seizure?
That should be documented somewhere?
on a second thought.. if someone has that info he would probably use it in his own benefit to buy or sell on a good price.
Someone looked it up and couldn't find it. Came to the conclusion it was filed under seal. |
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That was last week when Dwolla was down. My bad. |
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I think if the US Government was going to seize everything of Gox's they would do it suddenly and all in one shot like they did with online poker during "Black Friday". Telegraphing their intention via obtaining an order for seizure means it's a tribulation less severe than the total destruction of Gox imo.
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You'll see sub 100 in the next couple hours or so. Maybe less. Especially as people who don't sit and watch this forum or the markets get home and realize they are losing big $$$ and are caught in a firestorm. I feel bad for those who aren't aware yet and have limit orders setup.  Do you think it will go that far in the absence of additional news tonight? I was thinking steam would run out around the 105 walls at best in the absence of any additional multi-thousand BTC sell offs. |
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If there's a real show of force against Gox in the US when business opens tomorrow, we'll definitely be seeing sub $100 for sure imo.
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The genBTC fork lags terribly for me now during periods of high activity. The last genBTC version (where the API Key/Secret were stored in the top of the UI rather than under preferences) was fine though.
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Like the lawsuit.
In fairness to Gox, they didn't know about the lawsuit the day it was filed, which is natural because it doesn't get served the day it's filed, especially from the US to Japan. |
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So far the "news" is from Dwolla and that is it. It doesn't sound sinister.
What news about any other payment providers outside of Dwolla? What are you talking about?
The MtGox queue is also over now, the said they are caught up.
You've only heard it from Dwolla. DHS serving a US District Court Order preventing Dwolla, but no other institutions, from doing business with Gox's US arm? Possible, but unlikely imo. |
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DOJ is under the DHS, right?. If this isn't in relation to the court case, then what?
If DHS served a Court Order obtained in US Court in Maryland that is not related to a civil action, then it's most likely an Order resulting from a criminal complaint by some US Government body against Gox. I can't imagine any other scenarios for DHS to serve an Order to a payment processor requiring they cease business with Gox's US arm. |
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Can you at least speak in facts? We are witnessing bad news just get eaten up by buys. Amazing, and that is all you can say? How about we just try to be realists and not Bulls or Bears? This is interesting lab work right now.  Facts are if the move on Gox comes from the US Government and severely interferes/destroys Gox's ability to process US transactions then you're going to see this "amazing" phenomenon amount to one massive bull trap within 48 hours. |
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It's really not the Coinlab lawsuit. For that to be the case, Mt. Gox would have had to have:
1. Been served;
2. Replied to the complaint (If you don't reply to the complaint before the deadline you'll lose automatically when Plaintiff files a motion for default judgment, nothing happens until you reply); and
3. Coinlab's attorneys would have to have made an ex parte motion for an injunction (if it was a motion on notice it would be scheduled weeks in advance), and won.
Furthermore, I highly doubt DHS would be serving an injunction in a civil action.
You could see huge news about Gox's US operations being targeted by a DOJ complaint this week.
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In fairness, Court Orders targeting Gox accounts in the US could be really, really big news.
Woot for volume though.
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Whatever Court Order caused this is unlikely to be related to the Coinlab suit. Gox would have at least 30 days to reply after service and there's no way Coinlab would win a motion for an injunction against Gox before Gox had even submitted their Defense to the Court.
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I don't think so. Dwolla isn't *that* important.
Dwolla isn't important, but if there's a Court Order that prevents Dwolla from interacting with Gox to US customers you can bet it will affect more than Dwolla. |
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I wonder what the Court Orders from DHS and the District Court of Maryland actually consist of.
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Shoutouts to Bruiser. Ordered my cables, he shipped the next day and they arrived to Canada without hitch.
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