Order status: Pending I'm a bit confused. Does it mean "waiting for payment" or "preparing to deliver"? Pending = we have your order. Delivered = order has been delivered to drop shipper; it is out of our hands. We sometimes get a tracking number from EMS. If we have it, we will email it. For small orders we don't get tracking numbers. Sorry. We ship from China with China post. It doesn't make sense for us to import the items into Canada and repackage them again. Shipping can take 4-8 weeks. Free shipping is not fast by any means.  We got so swamped with orders after being slashdotted that I had to hire someone else to handle all of the orders for me. The shipping and order speeds should improve now. |
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You repetitively asked to send me a money order. I told you more than once that I didn't accept money orders. You decided to mail one to me anyway. A money order is not cash. A good description of what "cash" is: http://www.nanaimogold.com/define_cash.phpI immediately returned your money order by "RTS"; you were told all of this in private.  The Madhatter ummm. yeh stupid me. I sent this guy money too a week ago. I have yet to get a email reply.
I hope this is just a mishap or something. PLEASE BE LEGIT BRO!!!!!!!!!!
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Well, I can speak for Bitcoin2CC because I operate it. I had 3 broken transactions due to mybitcoin's sci being choked up for ~24h. Once the problem was remedied I saw 3 posts to my SCI Receipt URL so the transaction data and payments were NOT lost. I have all of the data/BTC. So far 2 people have emailed me and I've gotten them their card data. Still waiting for the final mystery guest to send me an email to collect their prize. Of course there will be a few skill testing questions. Cheers! The Madhatter |
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I just saw 3 transactions hit my SCI Receipt URL all at once. Something got backlogged over there or something???
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New site (not mine): Title: My Healthy Organics Link: http://www.myhealthyorganics.com/Description: Organic Products! Beauty, Baby, Supplements, Cofffee / Teas, Cleaning Supplies, and much more! |
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Found another one:
nlnsivjku4x4lu5n.onion:8333
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That would totally kill it for me. I refuse to do business with anyone who asks for government-issued numbers or identification. This defeats the whole purpose of bitcoin, imho. It is then no longer the people's free currency. I'm afraid we will have to solve the exchange problem in another manner.
I agree. I wouldn't even touch MtGox if they required those things, or any other business for that matter. |
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At what point does allowing people to hold a credit with you, for use at your site, make you a bank?
*sigh* This again? A bank writes loans and pays interest to depositors. If you buy a bank charter what privileges are you granted? Those privileges are what makes a bank "a bank". |
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I don't get the concern... when you do a bank wire, doesn't that pretty much already make your identity available to the US government,
That depends on where you are wiring to/from. It also depends on the system that is being used to conduct the wire. The entire world doesn't revolve around the US. Just conduct your business outside of it. in addition to putting the transaction right under their nose? The owner of MtGox doesn't appear outrageously concerned about being anonymous, as he seems willing to readily identify himself to his own prospective customers.
Sure. He's running a company in plain sight. Why would he hide? I was talking about insulating MtGox and his customers from a potential Liberty Reserve collapse more than anything else. Replacing Liberty Reserve with direct bank wire (I was under the initial assumption that MtGox's corporation was outside of the US) would be the fastest way to avoid any potential problem. A better/more private solution could be put into place later on, of course. |
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IMHO, it's actually beneficial for Bitcoin that fiat exchange mechanism problems continue. It gives a strong incentive for "the average citizen" to enter the B economy via trading good and services, AND stay in it to avoid the exchange hassles...
+1 This would be ideal, but it wouldn't always work out. :/ I've closed my LR account, and plan to use exchangers only when it's unavoidable. Thank you, Madhatter! You are a very valuable member of the Bitcoin community! I'm glad I could be of service. |
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Wouldn't that make them even more vulnerable to US government stupid laws?
Oh, well I was under the assumption that Jed had a bank account outside of the US. His corporation isn't a US one. Yes, a US bank account will just get you fisted without lube. While they keep with LR they are vulnerable "only" to Costa Rica government and whichever government controls the data center where they are hosted.
This is no longer the case. |
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Ripple is prone to fragmentation.
You end up with piles of little "islands" of people that trust and can pay one another. Paying to people on other "islands" is troublesome and sometimes impossible.
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Imagine hoards of nomadic exchangers with cellphones/pdas/laptops that roam the world doing face-to-face cash exchanges for Bitcoin. Hey.. a man can dream... |
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The exchange problem appears to be intractable.
It can be solved if we are creative. |
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There are not a lot a "lot of stupid laws" being broken. There's one big fat law probably being broken, that's conducting the business of being a bank without the proper license.
Actually, it's called money transmitting without a license. MtGox doesn't do any banking. They don't write loans or pay interest. That can't exist when one uses bank wires. Money has to get in, money has to get out, dead simple.
Yes, but you can insulate the customers from privacy breaches by using a network of global exchangers. If we had exchangers in every country in the world that traded GoxUSD/GoxEUR for cash/money orders/wires/etc it would be more robust. Only the exchangers in each country would have to transmit a monthly wire to MtGox for more GoxUSD/GoxEUR markers. MtGox could limit his risk by having more than one bank account that accepts these wires. He could also cash the accounts out as soon as he receives the wires. He'd only be expected to hold enough day to day operating cash in his bank accounts. You can't have something global and scalable using cash.
It could be done with a network of brick and mortar stores around the world that did over the counter trades in cash for Bitcoin. I don't see the cash in the mail for Bitcoin being very scalable because it relies so heavily on trust. It will hit mtgox eventually, and it will hit hard. And it might probably hit me too eventually if I don't find creative solutions I think exchangers should be laptop nomads. The "Ghost Walkers" described here: https://ffij33ewbnoeqnup.onion.meshmx.com/books/Toward_A_Private_Digital_Economy/index.html#Ghost%20Walker |
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Thanks for the warning, I never dared to keep much money in liberty reserve due to the fact that it always seemed high risk to me. Especially considering how e-gold got totally destroyed by the US government.
Well, it wasn't e-gold that was under fire directly. It was actually Omni Pay that brought the hammer of the state down on them. It's almost like if Bitcoin was a huge company using government regulations to shut down competition Haha! One other thing to consider: when MtGox attracts the attention of Liberty Reserve's operators (and it will eventually, they might see it as money laundering or some other stupid thing), they may disclose MtGox's information to the Costa Rican government under the AML/KYC regulations. Not only will MtGox's information be disclosed, but the information of every account that has ever spent or received money with MtGox. Think about that for a second. Did you think that you had privacy by using Liberty Reserve? You were obviously wrong. Does Liberty Reserve have to tell you that your information was given to the Costa Rican government? NO!Do they have to tell MtGox that his information and account history was given to the Costa Rican government? NO!Will Costa Rica cooperate with any US Government (or other governments) inquiries? YES! Look at the MLAT treaty. Costa Rica's banking secrecy is on its last legs. This whole Liberty Reserve thing just stinks. MtGox should drop it immediately and just accept bank wires. He can sell GoxUSD / GoxEUR or whatever. The exchangers can buy/sell the GoxUSD/GoxEUR directly from MtGox and resell it to the masses. We don't need Liberty Reserve. |
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It all boils down to MtGox printing the mtusd currency, and backing it with a basket of other currencies, one of them being LR.
Sure. That's what I was getting at. As far as bitcoin central is concerned, the sum of all LR balances is 100% covered and my balances are public, I've used my real name and address for the account, there's not much more I can do.
I haven't had a chance to try Bitcoin Central out. I'll take a look at it tonight. Cheers! |
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It seems important for us to know what the status of LR held with MtGox and bitcoin-central. I get the impression that $ held on MtGox can be cashed out via LR or wire or check, but will that hold if LR goes bad?
I doubt it. If MtGox can't convert Liberty Reserve into a bank wire to one of their bank accounts (assuming a run/or they go broke) MtGox won't be able to disperse dollars to their clients with other payment methods. He only accepts Liberty Reserve to fund MtGox accounts, so he has to convert Liberty Reserve into a bank wire somewhere along the line. If his account were suddenly frozen by Liberty Reserve he'd go broke. Assuming he left a significant portion of customer's funds in Liberty Reserve, of course. Obviously there is no easy solution for the exchange operators they either need to hold it in LR for easy withdraw and risk an LR run or keep it elsewhere and risk making people wait.
If MtGox accepted bank wires directly that would alleviate the risk of Liberty Reserve going broke. He should also let clients move dollars between accounts for free. He could run his own Liberty Reserve-like system inside of MtGox. Here's an example: Say a bank wire costs $50 to transmit. You wouldn't wire $100 to MtGox. It's not cost effective. If I wired $10,000 (and paid the $50 fee.. it's peanuts on a $10K wire) to MtGox and then sold $100 GoxDollars to you for 0.5% it is a far better option. Anyway, my point is that MtGox could change their system a bit and do away with Liberty Reserve completely. |
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That's a great read. I enjoyed it.
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