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101  Bitcoin / Bitcoin Discussion / Re: Here is the Seizure Warrant on: May 15, 2013, 09:08:01 PM

I can't find them in there, but does that conclusively mean the aren't registered?

"...spent 25 mil in the first year to become financially compliant in th us"

http://www.theverge.com/2013/4/1/4154500/mt-gox-barons-of-bitcoin



Here's what the article actually says:

"Mt. Gox estimates it costs $25 million in the first year to become fully compliant in the US. But considering a regulator could potentially swoop in and seize funds if a violation were found, it’s worth it."

Doesn't say that they actually did it, just that it's worth it to do it.  Also, if they actually did it, they wouldn't have to estimate right? They would know exactly what it cost.

Funny that they admitted they knew exactly what the risks were, but still never followed through and actually took care of it. 
102  Economy / Speculation / Re: How much $ was the balance of MtGox Dwolla account? on: May 14, 2013, 09:00:56 PM
Or:
How much of the bid wall is now fake?




I speculate about $ 10 million or higher


not less that's for sure, seeing as the Coinlab <-> MtGox deal has figures going at about $ 50 million

Why would their dwolla balance have anything to do with the bids on the order book?
Is this the average intelligence of bitcoin forum lurkers?

If you're referring to MtGox not having enough money to cover their user's balances anymore (a good possibility) then I would understand.  But the bids are still based on money in the user's Gox account.  If anything I would expect bids to go up as people try to "cash out" to coins and move their coins out of the exchange.
103  Economy / Speculation / Re: How much $ was the balance of MtGox Dwolla account? on: May 14, 2013, 08:54:49 PM
Or:
How much of the bid wall is now fake?




I speculate about $ 10 million or higher


not less that's for sure, seeing as the Coinlab <-> MtGox deal has figures going at about $ 50 million

Why would their dwolla balance have anything to do with the bids on the order book?
104  Economy / Trading Discussion / Re: MtGox makes more money the higher the price of bitcoin - conflict of interests? on: May 10, 2013, 05:50:45 PM
They should adjust their fees now that they have grown larger, volume has increase, and the price has gone up so much.

Exactly.  Given the same volume in USD, Gox will make more money at a higher bitcoin price simply because its much harder now to get a low commission rate.
105  Economy / Service Announcements / Re: [ANN] KRAKEN.COM - US-based Exchange w/ Margin Trading - OPEN BETA on: May 09, 2013, 04:41:03 PM
What's your status on an API for trading and market data?
I assume it will be available eventually, but you should release it as soon as possible to give developmers of trading utilities and bots a headstart, so they can use the beta site to test their own tools/products and have them ready when you go into production.

They do have an API, but no official docs yet.  Here's some unofficial documentation that they sent me last week.  Note that this isn't final and also doesn't cover any of the trading functions.  Should give you some idea of how it will work though (similar to Gox and other exchanges out there now)

Quote
API:

Public methods can use either GET or POST

Private methods must use POST and be set up as follows:

HTTP header:
API-Key = API key
API-Sign = Message signature using HMAC-SHA512 of the URI path and POST data and base64 decoded secret API key

POST data:
nonce = always increasing unsigned 64 bit integer

Note: There is no way to reset the nonce to a lower value so be sure to use a nonce generation method that won't generate
numbers less than the previous nonce. A persistent counter or the current time in hundredths of a second precision or higher is suggested.

Public market data
Get server time
URL: https://api.beta.kraken.com/0/public/Time

Result: Server's time

unixtime = as unix timestamp
rfc1123 = as RFC 1123 time format

Note: This is to aid in approximating the skew time between the server and client.

Get tradeable asset pairs
URL: https://api.beta.kraken.com/0/public/AssetPairs

Result: array of pair names and their info

<pair-name> = pair name (ISO-4217-A3-X names)
altname = alternate pair name (ISO-4217-A3 names)
aclass-base = asset class of base component
base = asset id of base component
aclass-quote = asset class of quote component
quote = asset id of quote component
lot = lot size
leverage = array of leverage amounts available

Get ticker information
URL: https://api.beta.kraken.com/0/public/Ticker

Input:
pair = comma delimited list of asset pairs to get info on

Result: array of pair names and their ticker info

<pair-name> = pair name (ISO-4217-A3-X names)
ask = ask array(<price>, <lot volume>),
bid = bid array(<price>, <lot volume>),
last = last array(<price>, <lot volume>),
volume = volume array(<today>, <last 24 hours>),
vwap = volume weighted average price array(<today>, <last 24 hours>),
trades = number of trades array(<today>, <last 24 hours>),
low = low array(<today>, <last 24 hours>),
high = high array(<today>, <last 24 hours>),
open = today's opening price

Get order book
URL: https://api.beta.kraken.com/0/public/Depth

Input:
pair = asset pair to get market depth for

Result: array of pair name and market depth

<pair-name> = pair name (ISO-4217-A3-X names)
asks = ask side array of array entries(<price>, <volume>, <timestamp>)
bids = bid side array of array entries(<price>, <volume>, <timestamp>)

Get recent trades
URL: https://api.beta.kraken.com/0/public/Trades

Input:
pair = asset pair to get trade data for
since = return trade data since given id (exclusive)

Result: array of pair name and recent trade data

<pair-name> = pair name (ISO-4217-A3-X names)
array of array entries(<price>, <volume>, <time>, <buy/sell>, <market/limit>, <miscellaneous>)
last = id to be used as since when polling for new trade data

Get recent spread data
URL: https://api.beta.kraken.com/0/public/Spread

Input:
pair = asset pair to get spread data for
since = return spread data since given id (inclusive)

Result: array of pair name and recent spread data

<pair-name> = pair name (ISO-4217-A3-X names)
array of array entries(<time>, <ask>, <bid>)
last = id to be used as since when polling for new spread data

Note: "since" is inclusive so any returned data with the same time as the previous set should overwrite all of the previous set's entries at that time
106  Economy / Service Announcements / Re: [ANN] KRAKEN.COM - US-based Exchange w/ Margin Trading on: May 08, 2013, 08:05:42 PM
is there an ETA when it comes out of beta - on reddit last week they said it would go live "sometime next week" i believe.

Last I heard was on May 3rd saying middle of next week - which would be about now.  I suspect it'll still be a week or two at least though - software projects have a tendency to always be late, especially things of this magnitude Smiley
107  Bitcoin / Bitcoin Discussion / Re: We should go to microbits (100 satoshis) instead of millibitcoins. on: May 07, 2013, 09:22:46 PM
but what do people use this word for? a 'bit' of time?

It's used extensively in computer science (a 'byte' is 8 bits)
108  Economy / Scam Accusations / Re: CryptoXChange affected user list on: May 07, 2013, 12:46:30 PM
Omg you guys had so much money in that exchange what where you thinking? It would be worth picking up an old computer or getting a computer someone is throwing away and setting up a clean linux machine. This would be for storing your bitcoins and is safe from every day user use.

I takes some time to setup but its well worth it.

Can't speak for others, but I was doing arbitrage trading which requires me to keep a balance at the exchange.  I've pretty much chalked up my loss as a cost of doing business and moved on, but I'm sure others lost a lot more.
109  Economy / Speculation / Re: Banking Holiday? on: May 06, 2013, 09:20:25 PM
This is strange.

I sent $1000 to MtGox using Dwolla on Tuesday, April 30, and it arrived there Friday, May 3.

Doesn't look like a bank holiday to me.

Dwolla isn't the bank - if they had money at Dwolla already, they should have been able to process the transfer there.
110  Economy / Scam Accusations / Re: CryptoXChange affected user list on: May 06, 2013, 05:43:23 PM
For what it's worth, got a response from NSW:

Quote
Dear Mr XXXXXXX

I refer to your correspondence dated 10 April 2013 regarding Crypto X Change.

NSW Fair Trading's attempts to contact the trader have been unsuccessful as the trader could not be located at the address provided nor traced from further investigations of other locations.  Therefore, mediation of your complaint has not been possible.

In the circumstance, you may wish to contact the Australia Security and Investment Commission (ASIC) in regards to the conduct of Kenseycol Pty Ltd . ASIC is responsible for the conduct and registration of companies in Australia and their web address is www.asic.gov.au.

Alternatively, you may wish to obtain your own independent legal advice regarding your rights and options in this matter.

NSW Fair Trading will retain the information you provided on the complaints management database which is used to monitor marketplace trends and practices, and assist with the development of consumer protection strategies.

Thank you for bringing this matter to our attention.

Yours sincerely


Grant Blizzard
NSW Fair Trading
111  Bitcoin / Press / Re: 2013-05-04 Warren Buffett: We Haven't Moved Any Of Our Cash To Bitcoin on: May 06, 2013, 02:11:13 PM
Warren Buffet, to my knowledge, has a strategy to stay out of things he doesn't understand. He doesn't understand IT and he also stayed out of the DotCom bubble.

This doesn't mean he is saying "Bitcoin is bad", its more like he is saying "not my area of expertise".

All prudent enough really.

^^ this, 100%. 
112  Economy / Trading Discussion / Re: FAQ suggestions for new exchange (kraken.com) on: May 03, 2013, 08:43:34 PM
Off the top of my head, things I always look for:

1.  What deposit and withdrawal methods are available & what are the fees and ETA associated with them.
2.  What are the account limits (withdrawal or deposit limits per day/month)
3.  What does the trading fee schedule look like? (flat fee, volume based, maker/taker, etc)
4.  What (if anything) is required for AML verification and how does that affect account limits.
5.  Security considerations - third party auditing, scanning, 2 factor auth, hot/warm/cold wallets, etc.)
6.  Business considerations - what licensing do you have? bonded or insured? banking relationships (e.g. more than one bank)?


And specifically for API stuff:

1.  Decent documentation (Gox really lacks here).
2.  Please include info about rate limits for method calls (if there are any, how often can I query market depth for example)
113  Economy / Service Discussion / Re: CoinLab should move on and create a new US Market on: May 03, 2013, 06:38:07 PM

CampBX.com is one of the only exchanges to never be hacked, as far as I know. They made security part of their image from day 1. They seem to be the epitome of responsibility and honesty. They have been around now for what well over a year? Without a single incident.


I've been trading with CampBX for a bit now. Money in and out is much easier in the U.S. They seem fairly responsible, though do get slowed by volume.

I think it is definitely correct that we should all make a conscious effort to try and use exchanges other than Mt. Gox to try and stabilize the Bitcoin environment. There are 3 with some volume now, CampBX, BTC-e, and Bitstamp. Let's all try and use them.

One thing I started noticing about a week or two ago was that Dwolla withdrawals are now often instant.  You make a withdrawal and get back a message that it was "able to be processed instantly".  Gox has been reasonably quick with Dwolla withdrawals lately (less than 24 hours typically) but instant is even better Smiley
114  Economy / Service Announcements / Re: Bitcoinica liquidator wants to hear from users on: May 03, 2013, 06:34:31 PM
It might be a very good idea to let the liquidator know that MtGox is being sued for 75 million dollars.

http://www.scribd.com/doc/139160091/Coinlab-v-Mt-Gox

Others probably did already, but just in case nobody did, I just e-mailed Taslim to let him know.
115  Economy / Service Announcements / Re: [ANN] KRAKEN.COM - US-based Exchange w/ Margin Trading - OPEN BETA on: May 03, 2013, 06:29:51 PM
This interface is great.  Best in the business.  Which bank(s) are you using?  Dwolla support?  Also I'm just going to paste the questions that Stephen Gornick usually asks new exchanges:

I got a chance to play around with the beta a week or so ago.  I agree that this looks very promising.

I seem to remember seeing a "Dwolla" option in the dummy withdrawal page, so I'm guessing they will be launching with Dwolla support (or are planning to have it at some point).
116  Economy / Service Discussion / Re: The Bitcoin Foundation - Comments on the Coinlab/Mt Gox Lawsuit on: May 03, 2013, 05:23:29 PM
We def need peter venessess to resign.

Curious, why Peter and not Mark? 

From what I know (limited as it is) MtGox US customers were supposed to transition to CoinLab.  It seems MtGox is holding up the process and CoinLab is suing.  Granted that's just CoinLab's side of the story, but we all knew this transition was supposed to happen and the fact that it hasn't yet gives some credibility to CoinLab's claim.

Could be that Gox has a good reason for not doing this, but they haven't been forthcoming about it.  Given that they are also stonewalling on the Bitcoinica Liquidator and have a history of being somewhat less than transparent on other issues, I'm tempted to side with CoinLab here.  Again, this is just based on what I know now - the actual facts could be different of course.
117  Economy / Service Discussion / Re: CoinLab should move on and create a new US Market on: May 03, 2013, 05:09:30 PM
We already have one US exchangers no one seems to be using - campbx.com (1% volume of gox).

Problem is who knows when it will pull a "bitfloor" or ZhouTonged when it gains popularity, I would put money at a company that has VC support (coinbase, coinlab). They are less likely to have their bank account banned for playing exchange as a teenager, or get hacked due to lack of technical expertise.
Agreed. For me  a legitimate exchange must be insured or bonded and be licensed as a money transmitter. FinCen has already stated that exchanges are going to need this. Any new startups that think they can avoid such regulation are not going to survive.

It sucks to see guys who deserve credit get none.

CampBX.com is one of the only exchanges to never be hacked, as far as I know. They made security part of their image from day 1. They seem to be the epitome of responsibility and honesty. They have been around now for what well over a year? Without a single incident.

As for regulation the FinCEN guidance is taking the entire Bitcoin community a while to digest, at least those based out of the US.

Other than Gox and Intersango (which hardly exists anymore) I believe they are the oldest exchange that's still around.  I started trading there in July of 2011.
118  Economy / Trading Discussion / Re: Mt.Gox trading fees: is a revision due? on: April 29, 2013, 02:22:26 PM
I think the fees schedule would benefit from a revision, but given Mt.Gox's market dominance

BFX used to account for 10-15% of all MtGox trades (seriously). BFX just got Bitstamp (BSTP) routing in addition to MtGox. MtGox instantly lost a large percentage of their volume. These are the fees charged at BFX at the moment:

BFX trades: 0.1%
BSTP trades: 0.25%
MtGox trades: 0.5%

I can choose where to route my orders where I enter them, and selling or buying at BSTP makes more sense in many cases. If there's a bid at $138 at both BSTP and MtGox then I'm obviously going to sell the BSTP bid since that costs me half of what it costs me to sell at MtGox. This applies even more so if there's a BFX order I can meet.

In short: MtGox may have to lower their fees eventually or they will loose volume.

At the very least Gox needs to adjust their fees to be based on USD volume rather than BTC volume.  A year or so ago when coins were $10 or so I was in the 0.30% trading bracket.  Now I trade far more than I did then, but I'm struggling to stay in the 0.40% bracket.
119  Economy / Speculation / Re: Almost 80% drop in volum on MtGox over the weekend on: April 29, 2013, 12:58:29 PM
I wouldn't read too much into it.  Weekends can be pretty slow in general.
120  Economy / Service Discussion / Re: CampBX - How safe is it? Any troubled past? on: April 26, 2013, 02:23:35 PM
I've had great experience with them. It's obviously a small shop and they can't be everywhere at once so response times can be slow. But once the are aware of an issue the address them promptly. I've had deposits hit in a few hours ( this is clearly a Manual process on their end) And when I hit a certain threshold I was required to verify my accound which took less than 24 hours ( do it now before they start experiencing a gox like lag!).  The interface and API is a bit slow for my tastes but it works. Hopefully they will see more volume in the future. 

Seems like they've beefed up the API a bit, so I'm not seeing nearly as many issues there lately.  I agree though that the site itself is sluggish.
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