Is the MTGox - Coinlab deal in trouble? Yes. It is in litigation!

[vess]

The deal's not in trouble.

We've moved a few key customers over, will announce more information soon.

We are in the market for a communications person -- send your resume's to support@coinlab.com.

[miter_myles]

The deal's not in trouble.

We've moved a few key customers over, will announce more information soon.

We are in the market for a communications person -- send your resume's to support@coinlab.com.

BFL_Josh may be interested in that gig... he has demonstrated superlative communication skills for quite some time now...




































roflcopter... 

[repentance]

The deal's not in trouble.

We've moved a few key customers over, will announce more information soon.

We are in the market for a communications person -- send your resume's to support@coinlab.com.

Given how close the target transition time is, there needs to be a lot more communication from both CoinLab and MtGox about what's happening.  You've got a hell of a lot of customers who need to agree to CoinLab's ToS before the transition date and that really needs to be happening now, not at the eleventh hour.

People are also going to have a ton of questions about the FinCEN guidance statement and how it relates to CoinLab's operations.

This transition can go very badly if MtGox and CoinLab don't constantly remind customers that it's happening and what actions customers themselves need to take.  Maybe you and Mark could take it in turns to keep customers updated because this close to showtime someone needs to be making statements pretty much every day.

[ArticMine]

The deal's not in trouble.

We've moved a few key customers over, will announce more information soon.

We are in the market for a communications person -- send your resume's to support@coinlab.com.

Given how close the target transition time is, there needs to be a lot more communication from both CoinLab and MtGox about what's happening.  You've got a hell of a lot of customers who need to agree to CoinLab's ToS before the transition date and that really needs to be happening now, not at the eleventh hour.

People are also going to have a ton of questions about the FinCEN guidance statement and how it relates to CoinLab's operations.

This transition can go very badly if MtGox and CoinLab don't constantly remind customers that it's happening and what actions customers themselves need to take.  Maybe you and Mark could take it in turns to keep customers updated because this close to showtime someone needs to be making statements pretty much every day.

+1

[davecoin]

The deal's not in trouble.

We've moved a few key customers over, will announce more information soon.

We are in the market for a communications person -- send your resume's to support@coinlab.com.

Given how close the target transition time is, there needs to be a lot more communication from both CoinLab and MtGox about what's happening.  You've got a hell of a lot of customers who need to agree to CoinLab's ToS before the transition date and that really needs to be happening now, not at the eleventh hour.

People are also going to have a ton of questions about the FinCEN guidance statement and how it relates to CoinLab's operations.

This transition can go very badly if MtGox and CoinLab don't constantly remind customers that it's happening and what actions customers themselves need to take.  Maybe you and Mark could take it in turns to keep customers updated because this close to showtime someone needs to be making statements pretty much every day.

+1

+1

I am surprised this is not a hot topic right now.  3 days to go.

[Herodes]

Since many feel that this deal can have an impact on the BTC / USD exchange rate I am posting a link to my post here in speculation.  https://bitcointalk.org/index.php?topic=147336.msg1636501#msg1636501

Any thoughts on the impact on the price if this deal were to get delayed or to collapse? 

Do you remember how long it took MtGox to get back to trading after they got hacked, and how many deadlines they set, yet nothing happening ? Things takes time, and this community seems to be plentiful with people who are not good at judging how long things will take! 

[ArticMine]

Since many feel that this deal can have an impact on the BTC / USD exchange rate I am posting a link to my post here in speculation.  https://bitcointalk.org/index.php?topic=147336.msg1636501#msg1636501

Any thoughts on the impact on the price if this deal were to get delayed or to collapse? 

Do you remember how long it took MtGox to get back to trading after they got hacked, and how many deadlines they set, yet nothing happening ? Things takes time, and this community seems to be plentiful with people who are not good at judging how long things will take! 

The amount of time the MTGox was down due to the hack back in 2011 was six days. http://bitcoincharts.com/charts/mtgoxUSD#rg60zczsg2011-06-01zeg2011-06-30ztgSzm1g10zm2g25zv. By comparison there has not been any updates by Coinlab in their official thread for over two weeks including zero response to the questions raised. https://bitcointalk.org/index.php?topic=148147.0;all. I will let the reader be the judge.

[Spaceman_Spiff]

Since many feel that this deal can have an impact on the BTC / USD exchange rate I am posting a link to my post here in speculation.  https://bitcointalk.org/index.php?topic=147336.msg1636501#msg1636501

Any thoughts on the impact on the price if this deal were to get delayed or to collapse? 

Do you remember how long it took MtGox to get back to trading after they got hacked, and how many deadlines they set, yet nothing happening ? Things takes time, and this community seems to be plentiful with people who are not good at judging how long things will take! 

I for one can say that I am a horrible judge of time !  And I mean absolutely horribly.

[inbox]

.

[solex]

Someone mind explaining to me why you have to claim them on your taxes?
I thought legally Bitcoin was in a grey area at the moment.

It is legally grey as a currency. As an asset its very clear - when it increases above what you paid for it, you are supposed to pay taxes on that.

So, if you own assets like an old master painting, a vintage car, a hundred kilos of silver, and they all double in value - you pay tax on that gain???

Not in most countries.

[arklan]

Someone mind explaining to me why you have to claim them on your taxes?
I thought legally Bitcoin was in a grey area at the moment.

It is legally grey as a currency. As an asset its very clear - when it increases above what you paid for it, you are supposed to pay taxes on that.

So, if you own assets like an old master painting, a vintage car, a hundred kilos of silver, and they all double in value - you pay tax on that gain???

Not in most countries.

only when ya sell it, i believe. (for the US anyway.)

[🏰 TradeFortress 🏰]

Someone mind explaining to me why you have to claim them on your taxes?
I thought legally Bitcoin was in a grey area at the moment.

It is legally grey as a currency. As an asset its very clear - when it increases above what you paid for it, you are supposed to pay taxes on that.

When you sell them. If you just hold then, you don't pay taxes till you sell

[niko]

If audited, you will have to explain how you sent 1k to japan and received 5 back. Doesnt matter where it came from.

What idiot leaves an auditable trail in Bitcoin? It was created to allow your financial life to be private.

Unrelated to your or my idiocy, this is about the trail in fiat, not in Bitcoin. Sure, I could painstakingly try to exchange for cash only in person or via SR mail at a huge premium - but this does not work well for me. I use government fiat, I get paid in fiat, and those who issue, own, and control fiat are entitled to whatever entitlements they come up with, tax included. I don't want to waste time fucking around with them so I can pinch a few thousands or tens of thousands more. Not worth it.
Don't fight the Babylon, step out of it.
Sure, I prefer to issue, own, and control my own money under my terms, that is why Bitcoin is attractive, but we are not there yet, and idiotic battles will not get us there.

[cloudTc]

If I am not mistaken, didn't he just say they were hiring for a communications person? someone that would communicate to the public what was happening? It seems to me that the main people in CoinLab are very busy right now, hence why they need someone to help communicate to the community what is happening.

[Severian]

Unrelated to your or my idiocy, this is about the trail in fiat, not in Bitcoin.

Fiat > gold/silver > bitcoin is the way to go. We just have to get a little better at our metal and trading skills.

BTW, I confess to situational idiocy. Usually involving women.

[arklan]

If I am not mistaken, didn't he just say they were hiring for a communications person? someone that would communicate to the public what was happening? It seems to me that the main people in CoinLab are very busy right now, hence why they need someone to help communicate to the community what is happening.

and hence why I just sent over my resume...

[Herodes]

http://coinlab.com/transition

Live -- March 22

    We'll have everyone moved over by March 22!


https://mtgox.com/press_release_20130228.html

Mt. Gox, the owner of the world’s dominant Bitcoin exchange, announced today that they have selected CoinLab as their exclusive partner in the United States and Canada. As of March 29, all US and Canadian customers currently transacting with Mt.Gox will transact through CoinLab, Inc.


So what's the story - if coinlab want to do serious business, they should at least ensure the information on their webpage is correct. Has everyone been moved over at this point ? If not, then update the webpage !

[Elwar]

http://coinlab.com/transition

Live -- March 22

    We'll have everyone moved over by March 22!


https://mtgox.com/press_release_20130228.html

Mt. Gox, the owner of the world’s dominant Bitcoin exchange, announced today that they have selected CoinLab as their exclusive partner in the United States and Canada. As of March 29, all US and Canadian customers currently transacting with Mt.Gox will transact through CoinLab, Inc.


So what's the story - if coinlab want to do serious business, they should at least ensure the information on their webpage is correct. Has everyone been moved over at this point ? If not, then update the webpage !

It appears that they will be able to have everyone moved over a week early. Not bad.

I wonder if it is in the US if I will be able to skip the Dwolla step in transferring money.

[pcexpress4less]

I'm in the USA and because of withdraw limits and the balances I have on MTGOX I have been withdrawing a $1000 per day. It has hit my Dwolla in less then a few hours and then to my bank by the next day.So in less then 24hrs from MTGOX to my bank. I've had  good result with MTGOX over the last year or two. I'm not sure how the the Coinlab deal will play out and being how slow info has been from Coinlab on this deal I think it's safer to watch from the sideline. So I have been trying to get all my funds under my full control until the dust settles. As of today the 22ND I have all my cash out but still have about 11-12k USD worth of Bitcoins in MTGOX. I thought it would be moved today but so far it is still on MTGOX in Japan. I will be pulling to my offline wallet shortly. Anyone in the USA get the new MTGOX USA web page when logging in?

[Herodes]

I'm in the USA and because of withdraw limits and the balances I have on MTGOX I have been withdrawing a $1000 per day. It has hit my Dwolla in less then a few hours and then to my bank by the next day.So in less then 24hrs from MTGOX to my bank. I've had  good result with MTGOX over the last year or two. I'm not sure how the the Coinlab deal will play out and being how slow info has been from Coinlab on this deal I think it's safer to watch from the sideline. So I have been trying to get all my funds under my full control until the dust settles. As of today the 22ND I have all my cash out but still have about 11-12k USD worth of Bitcoins in MTGOX. I thought it would be moved today but so far it is still on MTGOX in Japan. I will be pulling to my offline wallet shortly. Anyone in the USA get the new MTGOX USA web page when logging in?

It wouldn't take much effort on Coinlab and Mtgox's part to have a blog where they could spend 3 minutes a day updating people about the situation..