Bitcoin Forum
September 19, 2018, 06:11:15 AM *
News: ♦♦ Bitcoin Core users must update to 0.16.3 [Torrent]. More info.
 
  Home Help Search Donate Login Register  
  Show Posts
Pages: « 1 ... 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31 32 33 34 35 36 37 38 39 40 41 42 43 44 45 46 47 48 49 50 51 52 53 [54] 55 56 57 58 59 60 61 62 63 64 65 66 67 68 69 70 71 72 73 74 75 76 77 78 79 80 81 82 83 84 85 86 87 88 89 90 91 92 93 94 95 96 97 98 99 100 101 102 103 104 ... 125 »
1061  Bitcoin / Press / 2012-06-14 ctv.ca - Bitcoin: The monetary revolution? on: June 14, 2012, 10:52:48 PM
Video with Charlie Shrem of BitInstant.

Quote
Bitcoin: The Monetary Revolution?
Is digital cash currency the future of money?

2012-06-14


http://watch.ctv.ca/news/national-affairs/june-14/#clip700286

Original discussion thread: https://bitcointalk.org/index.php?topic=87612.msg963681
1062  Bitcoin / Bitcoin Discussion / Re: Bragging rights! Who has the highest BTC balance? on: June 14, 2012, 02:20:24 AM
I'm resigned to the fact that I'll never have 'over 9000' BTC Sad

..still... I'm not *quite* as sure that the BTC/USD price won't go 'over 9000' in my lifetime Smiley

1063  Bitcoin / Press / 2012-06-14 zdnet.com.au - Bitcoin safer than the euro? on: June 13, 2012, 11:15:22 PM
Quote
Bitcoin safer than the euro?
What do government bonds and bitcoin have in common? Some investors think they're just a bit safer than the euro at the moment.

Josh Taylor
2012-06-14

http://www.zdnet.com.au/bitcoin-safer-than-the-euro-339339644.htm


..., European investors are shifting their cash out of Europe and into other, safer investments, like the US Treasury Bonds, and, yes, even bitcoin.
...

1064  Bitcoin / Press / Re: NEW articles in Press Forum on: June 13, 2012, 07:06:28 AM
2012-06-12 slashdot.org - With Euro Zone Problems, Bitcoin Experiencing Boost In Legitimacy

https://bitcointalk.org/index.php?topic=87323.0
1065  Bitcoin / Press / 2012-06-12 slashdot - With Euro Zone Problems, Bitcoin Experiencing Boost In ... on: June 13, 2012, 07:05:59 AM
Quote
With Euro Zone Problems, Bitcoin Experiencing Boost In Legitimacy

2012-06-12

http://politics.slashdot.org/story/12/06/12/2351203/with-euro-zone-problems-bitcoin-experiencing-boost-in-legitimacy


"Despite being used for drugs and beef jerky, Bitcoin is finding legitimate purposes. Bitcoin's decentralized convenience means international efficiency, in areas where local restrictions on money transfers to foreign companies make legal businesses cumbersome. 'I've been able to have cash in my bank account in a matter of hours using Bitcoin, rather than three days with traditional banking,' one British businessman in China told Reuters. In embattled Europe, Bitcoin offers some a viable alternative against central banks, said a Greek owner of an island bar and restaurant who accepts payment in Bitcoin. 'I don't put money in the banks. I trust the euro as a note, but I don't trust banks. I don't want them making money out of my earnings.' Indeed, Europe's financial woes are caused an unprecedented surge of interest in the alternative currency, as the continent loses economic credibility with each new bailout, according to a report by the Financial Post."
1066  Economy / Trading Discussion / Re: MT.Gox caught lying again on: June 13, 2012, 01:11:13 AM
Are you suggesting mtgox should pre-emptively hold massive sums in the Dwolla system for the convenience of speedy withdrawals?  Do you not see the risk in them holding funds with a 3rd party like that?  (especially one so wary of anything bitcoin-related as Dwolla is)
Also - when they do international transfers of large amounts, they can't just say 'oh.. this is all mtgox money'.  The whole point of AML stuff is that the underlying owner of the funds has to be declared.
Your idea that it's just a matter of mtgox having a Dwolla account and therefore being free to do any transfers instantly to other Dwolla users is childishly naive.

Do you think it takes a month to top up a dwolla account even if that was the case ?  Roll Eyes

I think that if you're withdrawing something like 10K to Dwolla - it's highly likely there could be delays in the international banking system, or in Dwolla itself.
I also think that if a bank or Dwolla decides to investigate a certain large transfer, they may even decide to stop processing other transfers in the queue from the same source account until it's resolved.

It's the assumption here that mtgox is the source of the delay, or even that they should somehow know the extent of a particular delay that I'm challenging.

You cannot assume that mtgox can just 'top up' an account and allocate it later.  It's quite likely that for an international funds transfer they have to explicitly list all the underlying IDs of the people to whom the funds will actually go.   These guys are pumping a lot of funds, and so are under a lot of scrutiny.
1067  Economy / Trading Discussion / Re: MT.Gox caught lying again on: June 13, 2012, 12:46:55 AM
Well, my Dwolla withdrawal processed today, magically after I rejected the request to cancel it.

Coincidences are like magic aren't they.
You'll see it how you *want* to see it I guess.

It's clear from this thread that you don't understand how inter-bank transfers work, and that your default assumption for any problem is 'gox dunnit'.

Good grief.  I don't doubt that mtgox have their fair share of inefficiencies - but this sort of ranting thread is just retarded.


Mr Potato Head. MtGox has a Dwolla account. Inaba has a Dwolla account. Moving some money from one to the other inside the Dwolla system can (and has) taken place instantly.

The fact that investors small and large are being hit with incredible delays and missing money reeks of big problems in the organization. There is nothing on the MtGox status page that indicates what the hell is going on - not that it matters though because I've caught mtgox pre-dating stuff they put up there by several days. MtGox has been as opaque as possible; they won't say what the problems are with withdrawls, they won't make available or return funds that are in their accounts even if the transfers were initiated pre-ID requirement, they won't describe how they will use and protect the identities that are being required of users. They are entering into the "do not trust" area where one might even anticipate a limited run on investor funds will be unable to be paid out. Withdraw your money now if you think you might need it mid-July (or later) would be the prudent advice to anyone that has government currency there.

Are you suggesting mtgox should pre-emptively hold massive sums in the Dwolla system for the convenience of speedy withdrawals?  Do you not see the risk in them holding funds with a 3rd party like that?  (especially one so wary of anything bitcoin-related as Dwolla is)
Also - when they do international transfers of large amounts, they can't just say 'oh.. this is all mtgox money'.  The whole point of AML stuff is that the underlying owner of the funds has to be declared.
Your idea that it's just a matter of mtgox having a Dwolla account and therefore being free to do any transfers instantly to other Dwolla users is childishly naive.


1068  Bitcoin / Press / Re: NEW articles in Press Forum on: June 12, 2012, 11:08:25 PM
2012-06-12 online-casinos.com - Virtual Currency Surge May Serve Online Gambling Industry Needs


https://bitcointalk.org/index.php?topic=87240.0
1069  Bitcoin / Press / 2012-06-12 online-casinos.com - Virtual Currency Surge May Serve Online Gambling on: June 12, 2012, 11:07:49 PM

Quote
Virtual Currency Surge May Serve Online Gambling Industry Needs

2012-06-12

http://www.online-casinos.com/news/news1211438.asp

...

A recent article published in Canada’s National Post newspaper said the virtual currency known as Bitcoin has been surging as millions of Europeans look to save their euros from the possible devalued demise.

...

Bitcoin could be the next currency for online gambling and free the industry from political intervention.
1070  Bitcoin / Press / Re: NEW articles in Press Forum on: June 12, 2012, 10:50:02 PM
2012-06-12 blogs.lecho.be - Le Bitcoin, nouvelle valeur refuge (The Bitcoin, new safe haven)

https://bitcointalk.org/index.php?topic=87236.0
1071  Bitcoin / Press / 2012-06-12 lecho.be - Le Bitcoin, nouvelle valeur refuge on: June 12, 2012, 10:49:09 PM

Quote
Le Bitcoin, nouvelle valeur refuge
(The Bitcoin, new safe haven)

Stéphane Wuille
2012-06-12

http://blogs.lecho.be/lescracks/2012/06/le-bitcoin-nouvelle-valeur-refuge.html

1072  Economy / Trading Discussion / Re: MT.Gox caught lying again on: June 12, 2012, 10:29:35 PM
Well, my Dwolla withdrawal processed today, magically after I rejected the request to cancel it.

Coincidences are like magic aren't they.
You'll see it how you *want* to see it I guess.

It's clear from this thread that you don't understand how inter-bank transfers work, and that your default assumption for any problem is 'gox dunnit'.

Good grief.  I don't doubt that mtgox have their fair share of inefficiencies - but this sort of ranting thread is just retarded.
1073  Bitcoin / Press / Re: NEW articles in Press Forum on: June 12, 2012, 10:18:50 PM
2012-06-12 motherboard.vice.com - With Euro Instability, Can Bitcoin Now Compete with Hard Currency?

https://bitcointalk.org/index.php?topic=87234.0
1074  Bitcoin / Press / 2012-06-12 motherboard.vice.com - With Euro Instability, Can Bitcoin Now ... on: June 12, 2012, 10:18:03 PM
Quote
With Euro Instability, Can Bitcoin Now Compete with Hard Currency?

Alec Liu
2012-06-12

http://motherboard.vice.com/2012/6/12/with-euro-instability-can-bitcoin-now-compete-with-hard-currency

...
Without a central authority managing its fluctuations, Bitcoin’s own future is inherently uncertain. But it’s not going anywhere anytime soon.
1075  Economy / Trading Discussion / Re: MT.Gox caught lying again on: June 12, 2012, 02:40:50 AM
Another day, another fail by MTGox.  They are still holding $10,000 and now refuse to even give me a time frame as to when it might be processed.  Though they helpfully stated that they would "let me know when it's processed."  Gee thanks... like I wouldn't know from Dwolla and the fact that, you know, my balance in Dwolla increased.


Well as per my story above, MtGox let me know when my money was in their Bank account, but not yet credited to my trading account.
Will Dwolla do the same?  Go on.. ask Dwolla support if the money is in *Dwolla's Bank account*. Let's see how they respond.

I find it stunning that you'd assume Dwolla is some sort of efficient, honest operation after the way they've treated various Bitcoin-related things.
Dwolla charge what.. 25c per transfer?  If anyone is on a shoestring and doing the dodgy it's likely them.

Bet your 10K is busy earning Dwolla interest while they faff about with their AML reporting.
1076  Economy / Trading Discussion / Re: MT.Gox caught lying again on: June 12, 2012, 02:14:34 AM
So I just got a request on my support ticket from MTGox:

Quote
Would you like to have your withdrawal cancelled and return the funds to your Mt.Gox account so that you can withdraw via other methods?

Thanks,

MtGox.com Team

This, after almost a month of them holding my money (for a second time).  This is the second time they have tried/are canceling my large withdrawals.  This is a nice solution for them, because I would then have to pay a 4th time to convert the funds, and they get to skim yet another .5% off the top of my initial $26,000 for the privilege of converting it, yet again, to BTC.

I would say that pretty much confirms that MTGox is out of money.  They can't even handle $10,000 withdrawal.

I say this because if it were an AML thing and Dwolla was holding it, how would they be able to cancel it and "return" the money to me?  If it was being held for AML, they wouldn't be able to return it.  MTGox is the one "holding" it... and they are holding it because they can't pay it.


I don't see how you can make the claim that they couldn't cancel it.
I used an international wire transfer to send a few thousand dollars to mtgox a while back - and it arrived in their account in JPY - but I had selected in my Banking interface to send as USD.
Mtgox warned me that it had arrived in JPY and asked me whether I wanted it deposited in my mtgox JPY wallet or converted to USD at a fee.
I wasn't pleased about the multiple international conversion fees I would be charged - so mtgox suggested I ask my bank to cancel the transfer and rewire it with an explicit instruction to send in USD and not convert.
ie - the funds had actually arrived in their account, yet I was still able to cancel and resend so that it arrived to them as USD.
This ended up taking a few extra days rather than the usual 24-72 hrs.
I don't think any of this time was due to mtgox - it was all the manual processing involved between the various banks.

It seems entirely plausible to me that your money is in the hands of Dwolla awaiting their processing of whatever their AML policies are - and also quite a reasonable suggestion from mtgox that you authorise them to request their bank to put in a cancellation of the transfer from their end.

p.s I think various banks charge fees to cancel/amend international wire transfer requests. In the case where the mistake was made by your bank or intermediary bank and arrives in wrong currency - then presumably you wouldn't be charged.. but I'm not sure about cancellations.  Still - 'failure to arrive in beneficiary's account in a reasonable time frame' might be a good reason.
It strikes me that you should be asking DWOLLA where the money is anyway.





1077  Bitcoin / Press / Re: NEW articles in Press Forum on: June 11, 2012, 10:23:36 PM
2012-06-11 businessinsider.com - And Now Europeans Are Dumping Euros For Bitcoin

https://bitcointalk.org/index.php?topic=87049.0
1078  Bitcoin / Press / 2012-06-11 businessinsider.com - And Now Europeans Are Dumping Euros For Bitcoin on: June 11, 2012, 10:22:20 PM
Quote
And Now Europeans Are Dumping Euros For Bitcoin

Ben Duronio
2012-06-11

http://www.businessinsider.com/europeans-putting-money-into-bitcoin-2012-6

With the huge debt crisis in Europe, locals are moving their money out of banks in fear of losing their savings.
Where are they putting their money?
Some are turning to Bitcoin, reports the Financial Post.
...
1079  Bitcoin / Press / Re: NEW articles in Press Forum on: June 11, 2012, 10:21:13 PM
2012-06-11 betabeat.com - Bitcoin Gets a Boost From Euro Crisis

https://bitcointalk.org/index.php?topic=87048.0
1080  Bitcoin / Press / 2012-06-11 betabeat.com - Bitcoin Gets a Boost From Euro Crisis on: June 11, 2012, 10:20:05 PM
Quote
Bitcoin Gets a Boost From Euro Crisis
The fledgling digital currency Bitcoin is probably safer than that flimsy currency backed by an entire continent, some traders figger.

Adrianne Jeffries
2012-06-11

http://betabeat.com/2012/06/bitcoin-gets-a-boost-from-euro-crisis/


...
The Financial Post reports that fear over the value of the euro, strained by potential government insolvency in Greece and Spain, has led to a significant uptick in euro-for-Bitcoin trading.
...
Pages: « 1 ... 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31 32 33 34 35 36 37 38 39 40 41 42 43 44 45 46 47 48 49 50 51 52 53 [54] 55 56 57 58 59 60 61 62 63 64 65 66 67 68 69 70 71 72 73 74 75 76 77 78 79 80 81 82 83 84 85 86 87 88 89 90 91 92 93 94 95 96 97 98 99 100 101 102 103 104 ... 125 »
Sponsored by , a Bitcoin-accepting VPN.
Powered by MySQL Powered by PHP Powered by SMF 1.1.19 | SMF © 2006-2009, Simple Machines Valid XHTML 1.0! Valid CSS!