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Why? That doesn't make any sense. The only reason they have a case at all is because Mark did not register as a money transfer business. Both CampBX and Coinbase are registered, so they would have no case.
AFAIK (and I could definitely be wrong), CampBX is only registered with FinCEN, and does not have MSB licenses for all states they operate in (IANAL, but I'd imagine that if they're going to take on, say, South Carolina customers, they'll need licensing from SC, not just FinCEN). Further, I don't think Coinbase has any MSB licensing at all, but is instead relying on a kind of pass-through from another financial institution. I'm not intimately familiar with either, so I'd love to see evidence to the contrary. ETA: https://bitcointalk.org/index.php?topic=200443.msg2091394#msg2091394 |
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How expensive are the US money service licences anyway, surely Mt.Gox could of afforded them, as one of the largest exchanges out there, right?
Don't quote me, but I'm pretty sure if you operate in the US as a whole, you'd need a MSB license from every single state (unless the particular state doesn't regulate it). The logistical, legal, and straight-up cash requirements are probably upward of $5m and probably in excess of $300k annually after all the lawyer and accountant fees... just to do business in the US. |
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I posted this in another thread but want to share it in here as well. I've given him about 30+ coins, still in que. I will report back with my results ASAP.
I would advise others who want to make a large investment to hold off until I can confirm whether this is a scam or not. 30+ might be a lot right now, but when it was only $7.2 it wasn't all that much and these are coins I am perfectly willing to gamble.
STOP!That's completely the WRONG way to verify whether or not something is a scam. Go to HYIP sites, those horrible things which look like they were designed in 1995. They have little badges on them for various HYIPonzis. On these badges, they have "Paying," or "Not Paying." They are updated real-time, because everyone knows that putting money in is a gamble with a huge house edge. They establish credibility by paying for a while, then up-and-leave. The longer they stay, the more people play, but eventually, it costs more to pay interest than what the ponzi op gets in receiving new funds from the established credibility. |
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This was pretty shocking to read. They're calling Bitcoin a currency, now... same rules as the dollar (except it isn't legal tender, obv), and I guess we can now say it's recognized by the government... Hm. Before anybody goes and says that Gox is immune because they are in Japan, I just want to state that Japan would actually be very quick to react. In the past they have been more than happy to get rid of a foreign company if there is even a slight whiff of something dodgy going on. They don't want bullshit from foreign companies.
I expect Gox will be expelled from their office in Shibuya before June.
Based on their track record I wouldn't be surprised for a monumental fuckup, Mark has proven to be criminally negligent on multiple occasions not least of all the reaction to the 2011 hack, not to mention the pirate fiasco.
This is your last warning mark, flee the country and go somewhere safe now or you will find yourself in prison very soon. You don't want to be the only 外国人 in a Japanese prison now, do you? At least you will loose that belly of yours on a bowl of white rice and a glass of water every day.
Gox isn't immune because they deal with US customers and USD. Further, Mark's Mutum Sigillum LLC is based in Delaware. If Mark is charged, and they do single him out in the warrant, he's likely to be extradited before he can even research and get a passport to a place which might not extradite him. This is pretty much THE test case which will determine Bitcoin's future. If Gox loses, the various gov't departments will have precedent to go after EVERYTHING BTC businesses are at risk for when Bitcoin's considered a currency. |
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Countries which are in control of their own printing press never face a default risk.
Why would the US default? Nothing in the bonds guarantees the PURCHASING POWER just the nominal amount.
US owes $15T which is a lot today? Well ramp up 5% inflation a year for 30 years and that $15T nominal is more like $4T in todays dollars. See $4T on a $20T economy is nothing.
That doesn't mean buying t-bonds is a good idea as while you may get every penny the price of everything will have quadrupled by the time your 30yr bond was repaid (putting you behind in real terms).
I mean why default, when you can "honor" the letter of the contract, break the spriting of it and repay bondholders in increasingly worthless pieces of paper.
It happened, it's happening, it will happen. -But maybe it's not enough. Can the Fed prevent hyperinflation without compromising the US credit rating until the USG's paying an unsustainable amount in interest? USG Debt:GDP in WW2 was ~110%. At peak of crisis in Greece, their government had a debt:GDP ratio of ~1.25 - 125%. In 2010, USG was @ ~95%. Currently, USG debt:GDP is ~1.07, or ~107%. So, right now, the USG's economic situation is about what it was at during WW2.... except there's nothing even remotely like WWII occurring, and debt:GDP is getting increasingly worse. When the interest rates start to climb due to downgrades, is there anywhere to go less hyperinflation? Sigh. OK I dealt with all that earlier in the thread. The interesting question is this - why do so many people want to believe that the US is facing a debt crisis? Is good news really so hard to take?  Actually, before I went back and edited, I was just going to post "It happened, it's happening, it will happen." with some charts showing the USG isn't in a particularly bad spot. -And then I looked at the data and didn't want to look like a fool. (seriously - true story) |
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Countries which are in control of their own printing press never face a default risk.
Why would the US default? Nothing in the bonds guarantees the PURCHASING POWER just the nominal amount.
US owes $15T which is a lot today? Well ramp up 5% inflation a year for 30 years and that $15T nominal is more like $4T in todays dollars. See $4T on a $20T economy is nothing.
That doesn't mean buying t-bonds is a good idea as while you may get every penny the price of everything will have quadrupled by the time your 30yr bond was repaid (putting you behind in real terms).
I mean why default, when you can "honor" the letter of the contract, break the spriting of it and repay bondholders in increasingly worthless pieces of paper.
It happened, it's happening, it will happen. -But maybe it's not enough. Can the Fed prevent hyperinflation without compromising the US credit rating until the USG's paying an unsustainable amount in interest? USG Debt:GDP in WW2 was ~110%. At peak of crisis in Greece, their government had a debt:GDP ratio of ~1.25 - 125%. In 2010, USG was @ ~95%. Currently, USG debt:GDP is ~1.07, or ~107%. So, right now, the USG's economic situation is about what it was at during WW2.... except there's nothing even remotely like WWII occurring, and debt:GDP is getting increasingly worse. When the interest rates start to climb due to downgrades, is there anywhere to go less hyperinflation? |
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I'm posting on a Bitcoin social network right now  |
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Why would someone buy free software? I don't get what you are offering.
"Have no DRM, the code is under GPL3, buy to support Ultracopier. Buying this product you have too: Premium support Quick bug fix More performance (by a version adapted to your cpu) See more information on: http://ultracopier-wiki.first-world.info/wiki/Ultracopier_Ultimate" |
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Guessing we could just use 109.201.133.65
Has this been thought about? I don't clearly remember the connection between Gox & the BTCTalk domain name.
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Switch their position and see if the same thing happens with the other card in the position where the underperforming card is now.
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OP site seems to have trouble connecting to Gox. Checked out listentobitcoin in meantime, but giant >5kBTC transaction is clouding my view!
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I don't see the problem.
Hopefully, this will be the final push to get DPR to start a hidden BTC:mLClorox exchange. DPR gets a pipe going from the factory to his storage silos and we place orders at the factory. They then deposit our orders into the Clorox silos. DPR can get really fancy and have metal disc separators in the silos so we know exactly whose Clorox is whose.
On a slightly more serious note... Can't kill BTC before Tor, and a crackdown will bring a whole lot of new blood over to Tor. I think Tor/I2P-related charities have received, what - 30kBTC or something?
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 Do you learn to make that kind of face while on the job, or is it one of the requirements for getting hired to such a position. I've tried to make this face in front of the mirror several times now, but every time I try, I burst out in laughter, perhaps I'm simply not cut out to be holding any high ranking important position! Hmm. That's the face I made when I read they might try using online gambling as the reason to shut Gox* down. *Gox's Dwolla account **Don't jump down my throat! |
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Why is it so much worse when devs pre-mine, but it's okay that they "post-mine?" What if the devs just end up mining the first 2% of coins in all existence within the first couple months either way? Does it really matter whether or not a few peons are sticking their toes in?
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What's a VHS tape?
Really big cassette tapes for videos. Cassette tapes are kind of like, um.... kind of like a giant "unbound" hard disk drive you read horizontally. Oh... shit... and a HDD is like a uhh.... uhhh..... Ummm... Hrm. Okay. So, like say you take a bunch of photographs and tape them together.... and a photograph is like a uh... semi-transparent picture on a special "film" (it's like glossy see-through paper with a bunch of chemicals [and I guess they used silver?]). VHS tapes are a lot like that. Yeah. Anyway, people would take these tapes and put them in a big electricity-gulping black box ("futuristic" versions of these giant boxes were sometimes silver) which spun the taped-together pictures and somehow got the picture from the VHS box to a TV using "analog" signals, which just meant they're really inefficient and your image would look fuzzy and distorted. People used these around the time of CuRved Televisions (CRTs) where they used a type of glass screen which was actually curved instead of flat! Behind this blurry curved screen was a buzzing ray gun of some sort which had to be frequently adjusted because the picture would move off the screen. Anyway, back then, people were actually trying to get these ray guns to blast them directly in the face, which is where "don't sit too close to the TV, you'll burn your eyes out" came from. Of course, that was way back when the Americans produced TVs. |
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not that it will happen this time, but i really wish
that gox goes away...
I'll be fine with that as long as CampBX (or someone in the US) continues making it easy (i.e. working with Dwolla) to get my fiat out of the exchange. Maybe we need more Dwolla-type things in the US? Yeah, we need more Ashton Kutchers in the world.  Did the actor invent something like Dwolla, like, in the real-life meat-space? Or is this a reference to the TV show? If it's a reference, I can only muster a panting laugh, a la Sheldon Cooper. (swing and a miss) Kutcher was an early investor. http://blogs.desmoinesregister.com/dmr/index.php/2012/04/10/ashton-kutcher-dwolla-investment |
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not that it will happen this time, but i really wish
that gox goes away...
I'll be fine with that as long as CampBX (or someone in the US) continues making it easy (i.e. working with Dwolla) to get my fiat out of the exchange. Maybe we need more Dwolla-type things in the US? Yeah, we need more Ashton Kutchers in the world. |
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Bank wires can be really cheap depending on your bank/CU. To get money into BFX, I'd pay $20 to my CU. To get money from BFX, I'd pay $20 to BFX. Compared to .5-.6% from Gox and $.25 from Dwolla, it's usually cheaper and faster to wire than Dwolla. My CU doesn't do online wires, though, which is why I was still using Dwolla.
ETA: BFX fees range from .1-.5 depending on where the order's routed, but BFX (.1%) orders are usually tighter than Gox's, so it often ends up being .1% or .25% @ BSTMP.
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