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Economy / Trading Discussion / Re: Mt.Gox AML/KYC Process Explained
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on: June 28, 2012, 02:34:27 PM
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It has been explained here over and over. Dwolla decided to change its TOS when it comes to Bitcoin, this in order to protect their clients and their company and we have no problem whatsoever with them willing to protect their business. Dwolla requires now companies like us to submit certain documentations to issue them a "Writing Consent" that allow companies like us to freely continue to do business with Dwolla. As for today and after submitted these documents several weeks ago we are still waiting fro Dwolla to get back to us putting us in a very delicate situation with the fear of being shutdown at any single instant and have the funds on our Dwolla account frozen.
Thanks, I initiated a support ticket with Dwolla and referenced this discussion thread. I am sure that when everyone knows where the bottleneck is we will get this worked out. Thanks, hope it will have the effect we are all waiting for, we, Mt.Gox try to do everything by the book and would love to continue working with Dwolla and comply with their terms. I personally sent an email to Ben Milne 22nd but have yet received an email from him. How odd, I got this back from my support ticket with Dwolla: Michael, Thank you for the clarification, I was under the impression you were sending funds to a third party. It appears that your account is active and verified, if the payment has not reached the Dwolla system we have no control over how long the transfer will take. If another Dwolla user has initiated a transfer to your Dwolla account you will see it in your "pending" transactions or "Money In" tab. I do not see any payments being made to your Dwolla balance at this time, therefore I am not able to see what the hold up is. I would recommend getting in contact again with the third party in question, to see if the funds have successfully been sent to your Dwolla account. Thank you, Dwolla Support What's up with this? |
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Economy / Trading Discussion / Re: Mt.Gox AML/KYC Process Explained
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on: June 27, 2012, 11:53:54 PM
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It has been explained here over and over. Dwolla decided to change its TOS when it comes to Bitcoin, this in order to protect their clients and their company and we have no problem whatsoever with them willing to protect their business. Dwolla requires now companies like us to submit certain documentations to issue them a "Writing Consent" that allow companies like us to freely continue to do business with Dwolla. As for today and after submitted these documents several weeks ago we are still waiting fro Dwolla to get back to us putting us in a very delicate situation with the fear of being shutdown at any single instant and have the funds on our Dwolla account frozen.
Thanks, I initiated a support ticket with Dwolla and referenced this discussion thread. I am sure that when everyone knows where the bottleneck is we will get this worked out. |
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Economy / Trading Discussion / Re: Mt.Gox AML/KYC Process Explained
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on: June 27, 2012, 01:19:19 AM
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I have been trying to withdraw a few hundred dollars from MtGox. My account wasn't verified, because the FAQ says I don't need to be verified. https://support.mtgox.com/entries/20919111-aml-account-statusesSpecifically "No verification needed (Level 0) - All accounts are initially Level 0" "Daily withdrawal limit (24hrs): 1,000 USD (or equivalent) " These days, I try to withdraw to Dwolla, and I thought everything was going smooth. But the $$ still haven't come in to dwolla, so I ask why. MtGox rep replied that I need to provide document to become verified. This is absolutely not necessary as their own FAQ stated that I can withdraw up to $1000 a day without becoming verified. It's been 3 days, and my funds are still stuck in MtGox. I've since sent them the documents. If MtGox keep doing this, all their customers are just going to other exchange sites. I am in the same situation, last month I tried to withdraw a couple hundred dollars to dwolla. First the transaction said it was confirmed, then it was cancelled without even notifying me. A week ago I logged into Mt. Gox only to discover that the funds were never transferred. I started reading about the "verified account" nonsense, I couldn't understand why a transaction for $200 bucks would not be allowed. I decided just to get my account verified. After a three day process I finally had my account verified, I initiated the transfer out and STILL nothing has hit dwolla. I have no idea what is going on at Mt. Gox but it cannot be good. This process used to take minutes, I have been trying to get my money out for over a month now. |
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Bitcoin / Mining / Re: at 7$ per btc i need to pull the plug
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on: September 07, 2011, 03:44:42 PM
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Other factors besides video card usage. Other computer components, fans, and air conditioning. If you air condition your home any energy that goes into the home is just as costly to extract from the home. In the winter it may make more sense but if you are using 200 watts as your metric, you are way off.
I was just trying to keep it simple. I have a rig of 4 5830's that pull 900 watts from the wall that's 225 per card (if you average in the watts used by mobo and cpu ect.) If you add a 5th or 6th card to the rig it goes very close to 200 watts each. So that part of what I was saying is correct. When you say you need air conditioning that's not entirely true. You can throw your rigs in a basement and they will be perfectly fine with out ac and you wont be effected that much by the heat. If a basement is not an option then I'll point out that opening the window now is its own form of ac for the northern states. It gets to between 50-60 degrees at night which is as low as any ac will go. During the day it doesn't really get hotter then 80 degrees so you could just suck it up and not use ac because the computers wont be harmed it will just be a discomfort for your self. This discomfort will slowly go away though as it gets colder. Any other factors I should take into account? I never said "you need air conditioning", I said "if you air condition your home". Putting it in the basement is irrelevant unless your basement is separately insulated as hot air rises and will end up upstairs otherwise. It is a simple energy in, energy out equation. If you put 900 watts in, in the form of waste heat your AC has to pull those 900 watts out. With winter approaching this is not much of an issue. In the winter months that extra waste heat is good as it reduces your heat bill. I also live in a northern climate and this week has been < 70 degrees, but last week topped out at 95. This year is probably the first that I am looking forward to winter. |
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Bitcoin / Mining / Re: at 7$ per btc i need to pull the plug
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on: September 07, 2011, 03:06:43 PM
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For example:
to mine 30 btc, you'll need to pay $200 in electricity (roughly)
That's completely wrong. Let's take one of the most inefficient cards when it comes to electricity the 5830. A 5830 at most requires 200 watts and at the current diff it mines 0.1867 BTC a day. That means it would take 160.68 days to reach 30 btc. Using the average electricity cost for the united states which is 15 cents per kwh it would cost $115.69 dollars not $200.If you use a more efficient card on electricity it would be even lower. If your electricity costs less then 15 cents per kwh it will be lower. Get your facts straight before you start spewing bullshit. Other factors besides video card usage. Other computer components, fans, and air conditioning. If you air condition your home any energy that goes into the home is just as costly to extract from the home. In the winter it may make more sense but if you are using 200 watts as your metric, you are way off. |
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Economy / Speculation / Re: RALLY!
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on: August 14, 2011, 11:16:42 AM
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If we break thru the $12 wall the market above is fairly flat. If the walls at $10.50, $11 and $12 vanish as soon as they start selling, things could get interesting  |
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Economy / Speculation / Re: PULL YOUR SELL ORDERS!!!
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on: August 04, 2011, 10:45:33 AM
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read the title The question is, why should be artificially manipulate the market by heeding calls to pull our orders out? If bitcoin is healthy it can withstand the panic of a few people and will thrive. If not, nothing of real long term value was lost. For all we know, those people dumping bitcoins at $10 today may look extremely clever in 2 weeks time when the price sits at $5. The market is already being artificially manipulated. Like I said in the previous post the large stacks of sell orders are placed out there only to drive the prices down. Last night there was a large stack at 10, 10.25 and really huge stack at 11 and sure enough as soon as the stacks started to get bought into the orders were pulled. This has been going on for months. |
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Economy / Speculation / Re: PULL YOUR SELL ORDERS!!!
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on: August 03, 2011, 11:05:02 PM
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read the title The whole purpose of the large sell orders is to drive the prices down and get the sheep to sell. If you watch they just keep getting shuffled around, always with a 1000 BTC safety margin to give the seller enough time to pull them in case of a rally. |
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Alternate cryptocurrencies / Altcoin Discussion / Re: Mining Namecoins is now 2x more profitable than Bitcoins
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on: July 23, 2011, 05:31:20 PM
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As we bring this namecoin party to a close, I think it important to thank the little people who toiled away tirelessly to kill the last difficulty. And though I will be taking my entire 11.5Gbps back to BTC mining, I look forward to the next namecoin party in two or three months.
That's mean The party will probably come again one more time, before the 24000th namecoin block arrives. After that, it's unknown due to the merged mining. Sorry I just had one of my blocks rejected and I got a little emotional. I think without merge mining, namecoin mining is doomed to these massive mining throughput swings. Unless of course the prices keep up with the difficulty. |
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