2013-02-27 arstechnica.com - In bid for credibility, largest Bitcoin exchange mo

[julz]

In bid for credibility, largest Bitcoin exchange moves to Silicon Valley
Move is designed to make Bitcoin more accessible to American consumers.

Timothy B. Lee
2013-02-27

http://arstechnica.com/tech-policy/2013/02/in-bid-for-credibility-largest-bitcoin-exchange-moves-to-silicon-valley/

The world's leading Bitcoin exchange, Mt. Gox, has announced a partnership with the Silicon Valley startup Coinlab. Under the agreement, Coinlab will handle Mt. Gox's American operations, which account for a large majority of the exchange's business.
...
As a Japanese firm, Mt. Gox struggled to develop the partnerships it needed. But according to Vessenes, CoinLab's location and conventional investor backing allowed the firm to score a partnership with Silicon Valley Bank.
...

[knight22]

This will probably create some kind of shockwaves

[Zomdifros]

And in his view, that's particularly important for wealthy individuals who want to purchase and store large quantities of bitcoins. Vessenes says he's had multiple inquiries from people who want to "buy six or seven figures" worth of bitcoins.

This is getting better by the day.

[justusranvier]

If this change makes it possible for US customers to send funds directly to the exchange via ACH there's be no more need for Dwolla any more. What percentage of their userbase would they lose in that case?

[n8rwJeTt8TrrLKPa55eU]

If this change makes it possible for US customers to send funds directly to the exchange via ACH there's be no more need for Dwolla any more. What percentage of their userbase would they lose in that case?

If Dwolla had a clue, they could've easily done what Coinlab just did, and worked with Gox to become its US subsidiary.  They had 2 years to figure out that Bitcoin was the future, and failed miserably.

Instead, they will go out of business.  Good riddance.

[hazek]

Good riddance.

+1

[iCEBREAKER]

If Dwolla had a clue, they could've easily done what Coinlab just did, and worked with Gox to become its US subsidiary.  They had 2 years to figure out that Bitcoin was the future, and failed miserably.

Instead, they will go out of business.  Good riddance.

WTF is Dwolla?  Aren't they the people that sell overpriced orange juice?   

[Korbman]

If this change makes it possible for US customers to send funds directly to the exchange via ACH there's be no more need for Dwolla any more.

Oh please let this be so. I'd much rather cut out the middleman when moving funds..go directly to Gox instead of Dwolla first.

[annette786]

OMG... THIS is big news.  It's only a matter of time now.

[Rygon]

OMG... THIS is big news.  It's only a matter of time now.

Only a matter of time before the IRS starts demanding records of trades in order to tax "gains" relative to USD.

[n8rwJeTt8TrrLKPa55eU]

Article got picked up by Hacker News:

http://news.ycombinator.com/item?id=5296338