Re: Intrade drops US customers (BIG bitcoin update!)

[RodeoX]

I received an email last night from Intrade. Intrade is a prediction market.  Participants buy and sell contracts that attempt to predict future events such as wars, elections, and other major events. The email stated that all US users must cash out their accounts and that no new US accounts can be created. They sighted regulatory pressure as their reason.
It was fun while it lasted. If you read the news carefully you can make money at it. Anyone else bummed out?

http://www.intrade.com/v4/home/

EDIT: Wait, it ain't over yet. Read my next post in this thread.

[1715327578]

1715327578

[Fjordbit]

I see it as more opportunity for bitcoin. The reason I got into bitcoin was because of Poker Black Friday and I had heard that I could play using btc. Cute Cat Theory says that the more regulatory the environment, the more normal people will take time to learn the tools to circumvent the regulation.

[RodeoX]

Hell yeah, I got them to go bitcoin!

I have been bombing intrade with emails about bitcoin. The loss of US customers was a shock to them and now they are thinking outside the box. This is what I just received from them:

Carl Wolfenden (Intrade Support)
Nov 27 17:09 (GMT)
Hello Richard,
While we still have concerns over BitCoin, it will be included in our review of new funding options (due to be conducted in January).
Regards,
Carl Wolfenden
Exchange Operations Manager

I call any bounty. lol
Perhaps a mod could move this to the bitcoin discussions section. It is now specifically bitcoin related.

[elux]

Hell yeah, I got them to go bitcoin!

I have been bombing intrade with emails about bitcoin. The loss of US customers was a shock to them and now they are thinking outside the box. This is what I just received from them:

Carl Wolfenden (Intrade Support)
Nov 27 17:09 (GMT)
Hello Richard,
While we still have concerns over BitCoin, it will be included in our review of new funding options (due to be conducted in January).
Regards,
Carl Wolfenden
Exchange Operations Manager

I call any bounty. lol
Perhaps a mod could move this to the bitcoin discussions section. It is now specifically bitcoin related.

Bitcoin on Intrade would be HUGE. Waitaminute... Hey, check their website:

"The report of Intrade's death was premature"

We understand yesterday's announcement was met with surprise and disappointment by our US customers, but this in no way signals the end of Intrade in the US. In the near future we'll announce plans for a new exchange model that will allow legal participation from all jurisdictions - including the US. We believe this new model will further enhance Intrade's position as the leading prediction market platform for real time probabilities about future events.

For our non-US customers, we will continue to offer real-money prediction markets. In the coming weeks and months we plan to implement a number of improvements to the Intrade website.
These include expanding our market categories, adding more convenient funding options and a new and improved trading interface. We’ll keep you posted on these initiatives as they develop.

What could that mean?