Over a year ago, Mt. Gox started to support BTC exchange markets in addition to BTC/USD.

If on the BTC/CAD market they were to only show the actual bids and asks just for buying and selling bitcoins with CAD, the depth would be real low and prices would be horrible for buying in any size.

But look ... it has depth -- about as good at BTC/USD or any other currency market at Mt. Gox.


 - http://bitcoincharts.com/markets/mtgoxCAD_depth.html

So what that depth includes are bids and asks from other markets at Mt. Gox, after adjusting for some fee amount to convert those funds to CAD.

So Mt. Gox doesn't maintain CADs for each sell into a BTC/CAD bid. Sometimes they need to then convert USDs or EURs or whatever other currency into CADs to serve your withdrawal request.

From another thread:


So though they do assert that they maintain all customer balances, the value of those funds may not be in the specific currency of which you are wishing to withdraw.    So for each of your $1 CAD to be withdrawn Mt. Gox has $1 CAD worth of fiat, just not in CAD.  They probably have an active forex account moving funds from the currency where they have excess inventory and filling in the currencies where inventory is low or out.

Ok, just to clarify, you personally were not scammed, but [edited] sold an Amazon gift certificate to someone that was impersonating someone else?

So you were paid BTCs in exchange for an Amazon gift certificate but then you refunded the coins, without delivering the card?  Or ... ? ?? I'm confused.

Would you mind addressing this issue?  [Update:  No response here to an accusation that this card was obtained by scam]
 - http://bitcointalk.org/index.php?topic=127249.0

Not sure why that is.

You could also try Gavin's bitcoin tools, which has a dumpwallet.

You can sell coins for payout as ACH/direct deposit through Coinbase, BitMe.com, Camp BX, FastCash4Bitcoins.com, and others.

 - http://www.Coinbase.com
 - http://www.BitMe.com
 - http://www.CampBX.com (ACH or Dwolla)
 - http://www.FastCash4Bitcoins.com (they are having trouble today doing ACH for new accounts though)

Here's a cash-out service that will transfer (B of A, Wells Fargo) or deposit cash in your account if you are with a supported bank:
 - http://bitcointalk.org/index.php?topic=82983.0

There may be other options that work for you:
 - http://en.bitcoin.it/wiki/Selling_bitcoins

I've been noticing how many e-currency exchanges are adding Bitcoin to the list of supported e-currencies:

- http://www.bitcoinmoney.com/post/34853623626

Since Bitcoin works so well as a drop-in replacement for Liberty Reserve and others, I wonder how long before the lesser tier currencies simply fade away -- especially the ones that incurred a 5% hit on each exchange.

I wonder if this is another variation of theirs.  Selling bitcoins at 5% below spot should be the first clue about their legitimacy:

- http://www.paytocard.eu

I'm not sure what you are referring to on that.  Do you mean links to other articles that he authored?

I'm not sure the exact wording of that, but I'm pretty sure that isn't the message.   

Because the encryption process marks any addresses in the keypool as no longer being usable, the very next transaction you make will have change going to an address that did not exist in any prior backups. 

- http://en.bitcoin.it/wiki/Wallet_encryption

I think that is what the message after encryption is telling you.

Not all that long ago it used to be several weeks.

 - https://mtgox.com/press_release_20120808.html


Just know, it isn't Dwolla that is taking any time.  Account-to-account (A2A) transfers on Dwolla are immediate.  So when there is a delay it is because Mt. Gox has not sent the API request to Dwolla to make the transfer.

They have limits as to how much Dwolla funds they can add apparently, so they cannot simply just keep enough Dwolla funds to be able to accommodate every withdrawal request.  Of course, when there is a price spike up there is a flock of people cashing out their coins and withdrawing, so I'm suspecting that's when the lag will be the longest.

I've unlocked the article.
 - http://en.bitcoin.it/wiki/BIP_0016

You should also Tweet that:
 - http://Twitter.com/StatelessSweets

That's where I found the link for this fantastic Youtube with audio clip:

FTL Stateless Sweets, A Great Ice Breaker
 - http://www.youtube.com/watch?v=5eFy0DDIWgg

Is the eventual result likely to be "mining bots"?

At the Bitcoin Conference 2012, IT Security professional Frank Braun gave a presentation on the necessity for there to be Secure and professional Bitcoin OTC exchanges:
 - http://shadowlife.cc/wp-content/uploads/2012/11/btcotc.pdf  <-- Slides of his presentation (PDF)
 - http://bit.ly/Y4yNN6  <--- Slides of his presentation (Web viewer of PDF)

He then followed up with a blog post on the topic:
 - http://shadowlife.cc/2012/11/secure-and-professional-bitcoin-otc-exchanges

He specifically addresses the tradecraft -- the skills for conducting over-the-counter, face-to-face transactions in a safe and secure manner.

One skill that he overlooked is a skill held by most every cashier at any corner store but is at the same time a skill that is foreign to most bitcoiners --- the ability to detect counterfeit currency.  I wrote a post on the topic:
 - http://www.bitcoinmoney.com/post/36244271879
 - http://www.secretservice.gov/KnowYourMoneyApril08.pdf  <-- Know Your Money guide
 - http://bit.ly/Y4zo1w   <-- Know Your Money guide (Web viewer of PDF)

There are many skills in the tradecraft of over-the-counter exchange.

I'ld like to see others contribute to this thread with any related techniques or things they've learned that might be of help to others.

Even India's Supreme Court rejected that conclusion:

Possession of fake currency not an act of terror
 - http://www.thehindu.com/news/states/other-states/possession-of-fake-currency-not-an-act-of-terror-hc/article4044723.ece

Now that this thread is a few weeks old, how about moving it to the Service Discussion board to serve as the main Q&A, support , etc thread.
 - http://bitcointalk.org/index.php?board=85.0   <-- Service Discussion board.

Incidentally, another announcement in this forum has been posted:

Here's an effort by Erik Voorhees where he decries Wikipedia's rejection of bitcoin.


[BLOG] - The Full Faith and Credit of Wikipedia
 - http://bitcointalk.org/index.php?topic=127141.0

Wikipedia and the EFF are two peas in a pod on this -- likely the same donor pool.   Of course, pleasing their donors should not be the main factor of their mission though.

A similar argument was posted in another thread relating to the EFF's rejection of Bitcoin:


Time for a renewed push to get EFF to accept Bitcoins?
 - http://bitcointalk.org/index.php?topic=125405.0

- http://blog.bitinstant.com/blog/2012/11/20/the-full-faith-and-credit-of-wikipedia.html
 
It was inevitable that some forward thinking industry leader (like WordPress) would look at Bitcoin, determine that it can be used to better the world, and embraces it.

Now that this message is out there, the excuses used in the past for rejecting bitcoin (like the EFF's and Wikipedia's) sound foolish, in hindsight.

Pro-tip: Anyone in the U.S. can sign up with Dwolla and have an account that can receive funds immediately.     There are no holds or restrictions stopping a new Dwolla account from receiving payment from another party (i.e., account-to-account (A2A) transfers which is how Dwolla payments are classified).

Now for a new Dwolla customer there are a few little delays after to get the funds to your bank account.  Linking a bank account takes a few days for the "verification deposits" to occur.

But those who want to lock in gains by selling at today's exchange rate plus get this 1% bonus can do this trade even without having previously already having a Dwolla account set up.