How long does it take to withdraw USD from Bitstamp and Btce?

Where do you live? What is your experience dealing with these exchanges?

Thanks.

If both sides want a dialogue, why are subpoenas necessary? Seems heavy handed.

NY regulator issue subpoenas to firms tied to Bitcoin: WSJ

(Reuters) - New York's top banking regulator has issued subpoenas to several companies associated with Bitcoin as part of an inquiry into business practices of the virtual currency industry, the Wall Street Journal reported, citing people familiar with the matter.

The subpoenas issued by the New York Department of Financial Services (DFS) seek information on antimoney laundering programs, consumer protection measures and investment strategies among other topics, the Journal said.

Companies that received subpoenas include Coinbase Inc, BitInstant and Coinsetter, the newspaper said.

http://www.reuters.com/article/2013/08/12/us-digitalcurrency-subpoena-bitcoin-idUSBRE97B03720130812

[NY regulator issue subpoenas to firms tied to Bitcoin: WSJ]

Why subpoenas if they just want dialogue? Seems heavy handed. And will the market react?

NY regulator issue subpoenas to firms tied to Bitcoin: WSJ

(Reuters) - New York's top banking regulator has issued subpoenas to several companies associated with Bitcoin as part of an inquiry into business practices of the virtual currency industry, the Wall Street Journal reported, citing people familiar with the matter.

The subpoenas issued by the New York Department of Financial Services (DFS) seek information on antimoney laundering programs, consumer protection measures and investment strategies among other topics, the Journal said.

Companies that received subpoenas include Coinbase Inc, BitInstant and Coinsetter, the newspaper said.

http://www.reuters.com/article/2013/08/12/us-digitalcurrency-subpoena-bitcoin-idUSBRE97B03720130812

This fake news article could have been a ploy to manipulate the bitcoin market. Whether it was or wasn't, it demonstrates that hype and not fundamentals have led to bitcoin's current value, and as an investor, you're gambling more with luck than with knowledge. You're also gambling on:

    Making sure you have the technical knowledge to keep your bitcoin wallet, a computer file, safe and secure.
    Whether the SEC and governments will crack down on the alternate currency.
    The future acceptance of bitcoin as a store of value and medium of trade.
    Having the returns of bitcoin outpace alternative investments.

http://www.fool.com/investing/general/2013/08/06/if-someone-invests-200-million-in-bitcoin-should-y.aspx

Vote away.

Thoughts on the fact that some very early adopters have 1000s if not 100s of 1000s of coins, which they obtained for next to nothing?

If they can sell a significant amount of their coins for anywhere near the current price, they are already fabulously wealthy, regardless of whether bitcoin is successful long term or not.

These people would have every motivation to ensure the price stays at a certain level by:

1. Investing in or creating bitcoin companies to make it appear progress is being made to developing market/ecosystem;
2. Promoting general awareness of bitcoin to the public - including participating in bubble creation and resulting media coverage;
3. Purchasing limit quantities of bitcoin at key times to keep the price moving in the direction they like;
4. Etc., etc.

See for example this article, especially the last 2 paragraphs: "The Scheme" and "The Moral":

http://rationalwiki.org/wiki/Bitcoin

Thoughts?

Who are the whales?

Simple question, but I will be more specific:

1) do we know who they are?
2) how are they defined?
3) if they are sellers, how many bitcoins do they own on average? How did they acquire them? When?
4) if they are buyers, how many bitcoins are they buying on average?
5) what do we know about their intentions and behavior?
6) what do they eat for lunch?
7) etc.

Check out this blog. Here's the chart:



http://afbitcoins.wordpress.com/tag/channel/

Question: if you buy one of these:

50 GH/s Bitcoin Miner
BitForce 50 GH/s Miner
$2,499.00

http://www.butterflylabs.com/

Turn it on 24/7/365...

How many coins could you mine per month (roughly)?

How much electricity would it cost (roughly)?

This is an economic question, as I am primarily trying to understand the motives and likely actions of miners - i.e., hording or selling of bitcoins.

Watch out below if we don't bounce off 88.

Any idea where the next level of support is? Scary.

Edit: mods please move to speculation section. I meant to post this there. Thanks.

Just for laughs, where do you see BTC/USD heading over the next 2 to 6 months? I realize this is almost impossible to predict, but am still interested in any well-reasoned theories.

Two major concerns I have re bitcoin:

1) security; and

2) competition.

Bitcoin by all accounts is the product of genius, but the code can be studied and improved like any product. Any comments on this possibility. I realize ultimately a currency is valued due to wide spread use and acceptance.

Serious question and part of my newbie quota!!