Wall Observer BTC/USD - Bitcoin price movement tracking & discussion

[mmitech]

who still trade at Mtgox ?  well this news is not really pleasant http://thegenesisblock.com/mt-gox-seizures-linked-silk-road-fed-testimonies/

Prevailing sentiment at the time leaned towards the notion that the government was actively cracking down on bitcoin companies, starting with the largest. Recent testimonies by federal agencies indicate that the account seizures were in fact related to the multi-year pursuit of Silk Road operators, rather than a crackdown on money transmission infractions for their own sake. In particular, the written statements not aired on television provide additional insight into the motives behind the seizures.

Notably, the statement by U.S. Immigration and Customs Enforcement (ICE) states,

“In May 2013, through an interagency taskforce led by ICE in Baltimore, Maryland, three U.S. bank accounts associated with what was then the world’s largest bitcoin exchanger, Japan-based Mt.Gox, which was moving approximately $60 million per month into a number of Internet-based hidden black markets operating on the Tor network, including Silk Road, were seized for violations of 18 U.S.C. § 1960, operating a money service business in the United States without a license. The bulk of the funds were associated with the illicit purchase of drugs, firearms, and child pornography.”

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[N12]

Magic the Gathering Online Exchange, laundering our drug money since 2010.

[mmitech]

Magic the Gathering Online Exchange, laundering our drug money since 2010.

and gox tell the customers we are working to make our daily withdrawing limit.... sorry what ? I don't care I want my money hahahahah

[JorgeStolfi]

who still trade at Mtgox ?  well this news is not really pleasant http://thegenesisblock.com/mt-gox-seizures-linked-silk-road-fed-testimonies/

“In May 2013, through an interagency taskforce led by ICE in Baltimore, Maryland, three U.S. bank accounts [with about 5 million US$] associated with what was then the world’s largest bitcoin exchanger, Japan-based Mt.Gox [...] were seized for violations of 18 U.S.C. § 1960, operating a money service business in the United States without a license.”

Very interesting.  Could this be the reason for the alleged difficulty of moving USD out of Mt Gox?

[byronbb]

I dont know why noone is talking about this: http://techcitynews.com/2014/01/13/etoro-launches-bitcoin-trade/

Its a really big deal. Maybe people are somewhat numb after the Fortress announcement or something, but that is in the future. This is right now.

"eToro will execute Bitcoin orders four times each day"

Will be interesting how that pans out.

Probably means they will clear 4 cfds a day. So they will deal 8 hour contracts.

[NewLiberty]

who still trade at Mtgox ?  well this news is not really pleasant http://thegenesisblock.com/mt-gox-seizures-linked-silk-road-fed-testimonies/

“In May 2013, through an interagency taskforce led by ICE in Baltimore, Maryland, three U.S. bank accounts [with about 5 million US$] associated with what was then the world’s largest bitcoin exchanger, Japan-based Mt.Gox [...] were seized for violations of 18 U.S.C. § 1960, operating a money service business in the United States without a license.”

Very interesting.  Could this be the reason for the alleged difficulty of moving USD out of Mt Gox?

and the absence of compelling explanations

[ChartBuddy]

Explanation

[mmitech]

Is Gox a safe place to trade if so, has anyone actually got their money from them when they withdrew?.
I am waiting for my verification to go through, its been about 2 weeks. Bastards will let you deposit coins, but wont let you take them out without verification. Is there anything i can do about this?

nope just wait, and keep away from mtgox at least till they fix their problems (if they will stay in business), but I really do not understand people still trading there... High fees, slow support, no withdrawals, slow deposits, higher price .... yet people still trade there.

[JCviggen]

Is Gox a safe place to trade if so, has anyone actually got their money from them when they withdrew?.
I am waiting for my verification to go through, its been about 2 weeks. Bastards will let you deposit coins, but wont let you take them out without verification. Is there anything i can do about this?

No...shoud've read the forums man.

Maybe you can get your money from Gox after a few months. Maybe not. It's not recommended at this point. Considering it's been this way since before summer...it's not looking brilliant.

[Starbound]

Is Gox a safe place to trade if so, has anyone actually got their money from them when they withdrew?.
I am waiting for my verification to go through, its been about 2 weeks. Bastards will let you deposit coins, but wont let you take them out without verification. Is there anything i can do about this?

Use Coinbase. Far more reliable since it's backed by American venture capital.

[TERA]

Is Gox a safe place to trade if so, has anyone actually got their money from them when they withdrew?.
I am waiting for my verification to go through, its been about 2 weeks. Bastards will let you deposit coins, but wont let you take them out without verification. Is there anything i can do about this?

Use Coinbase. Far more reliable since it's backed by American venture capital.

No use gox it's backed with silk road money.

[versace]

Is Gox a safe place to trade if so, has anyone actually got their money from them when they withdrew?.
I am waiting for my verification to go through, its been about 2 weeks. Bastards will let you deposit coins, but wont let you take them out without verification. Is there anything i can do about this?

Use Coinbase. Far more reliable since it's backed by American venture capital.

It's reliable if you have a credit card and a US bank account, particularly Chase. It instantly verifies Chase accounts and you can set up instant-buy if you have a credit card. Once your first transaction goes through, you should immediately send an email asking to be whitelisted, or they may flag your future transactions for fraudulent, high-risk activity and ultimately may cancel your entire transaction. I've had it happen to me several times, like that one night we went from 800s to high 900s and I was pretty upset about that. Besides the account flagging, everything else is pretty streamlined.

[Sitarow]

Choo choo?

[Denton]

who still trade at Mtgox ?  well this news is not really pleasant http://thegenesisblock.com/mt-gox-seizures-linked-silk-road-fed-testimonies/

Prevailing sentiment at the time leaned towards the notion that the government was actively cracking down on bitcoin companies, starting with the largest. Recent testimonies by federal agencies indicate that the account seizures were in fact related to the multi-year pursuit of Silk Road operators, rather than a crackdown on money transmission infractions for their own sake. In particular, the written statements not aired on television provide additional insight into the motives behind the seizures.

Notably, the statement by U.S. Immigration and Customs Enforcement (ICE) states,

“In May 2013, through an interagency taskforce led by ICE in Baltimore, Maryland, three U.S. bank accounts associated with what was then the world’s largest bitcoin exchanger, Japan-based Mt.Gox, which was moving approximately $60 million per month into a number of Internet-based hidden black markets operating on the Tor network, including Silk Road, were seized for violations of 18 U.S.C. § 1960, operating a money service business in the United States without a license. The bulk of the funds were associated with the illicit purchase of drugs, firearms, and child pornography.”

I never heard of an actual case where child pornography was facilitated with bitcoin, only in the minds of bad journalists and politicians do i hear these stories and its getting really annoying.

[F-bernanke]

I never heard of an actual case where child pornography was facilitated with bitcoin, only in the minds of bad journalists and politicians do i hear these stories and its getting really annoying.

Think of teh children!

works everytime.

[deadfi$h]

Is Gox a safe place to trade if so, has anyone actually got their money from them when they withdrew?.
I am waiting for my verification to go through, its been about 2 weeks. Bastards will let you deposit coins, but wont let you take them out without verification. Is there anything i can do about this?

nope just wait, and keep away from mtgox at least till they fix their problems (if they will stay in business), but I really do not understand people still trading there... High fees, slow support, no withdrawals, slow deposits, higher price .... yet people still trade there.

But my account should get verified without any problems right? They cant close my account with coins in it. I have to fiat

It should go through but it took me almost 3 weeks to have my paperwork processed. Try bitstamp/bitfinex instead, much lower prices and will actually give you your money in a reasonable period of time!

[threecats]

Half million dollars at 820 on Bitstamp.  Uffff.

[TERA]

Half million dollars at 820 on Bitstamp.  Uffff.

That's a pansy sell wall, wait for the 5,000BTC ones.

[Peter R]

“In May 2013, through an interagency taskforce led by ICE in Baltimore, Maryland, three U.S. bank accounts associated with what was then the world’s largest bitcoin exchanger, Japan-based Mt.Gox, which was moving approximately $60 million per month into a number of Internet-based hidden black markets operating on the Tor network, including Silk Road, were seized for violations of 18 U.S.C. § 1960, operating a money service business in the United States without a license. The bulk of the funds were associated with the illicit purchase of drugs, firearms, and child pornography.”

A good friend of mine has a theory of how we use "negative entropy" sources to help us more easily get things done.  An example of a "negative entropy" source are words that create a strong emotional response, like those shown in bold above.  

His theory is that we will use these words (neg-entropy) to dump entropy into until we've extracted all of the useful work from the source.  At this point, these words actually begin to have the opposite effect on the public as they once did.  

I think we are at that point already.  Whenever I hear "terrorist," "drugs," "money laundering," or "child porn" my instant emotional response is against the person who is trying to use these words to advance their agenda.  

[pdawg]