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

[BitPirate]

Mutum Sigilum looks like it was set up for a completely different business, and was just conveniently co-opted when the online exchange business took off. Gox grew fairly organically from nothing, after all.

Yes, I see that too. Mutum Sigilium was created in Delaware on 05/09/2008. Still, after those FinCen regulations came out last month, there's really no excuse for such an oversight on Gox's part.

No excuse? It's only been a month, and these things take time and can be very onerous.

Gox has had it hard lately -- Repeated DDOS, unfriendly business "partners" suing them for not giving up their customers, and now this...

I really hope the last two points (or indeed all of them) aren't related. That would be more than disappointing.

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[Frozenlock]

Gox www lagging hard/API unresponsive/broken for anyone else?

MtGox appears to be down.

Again.

[lebing]

Gox www lagging hard/API unresponsive/broken for anyone else?

MtGox appears to be down.

Again.

I just got in - and a new buying selling UI is there (dont get too excited)

edit: derp - nevermind, looks like the page just loaded in a fugly way - went to refresh it and got a 502.

[Pale Phoenix]

Yes, but I hope they don't. The law may be the law, and Mt Gox can improve, but he doesn't deserve to be arrested for this.

Definitely not. Something like this should never lead to jail time. They are registered for their main business so it's obviously just an oversight. I bet a hefty fine is all that will be levied.

I do remember the heavy handed way the Feds dealt with the online poker companies though. Hopefully this isn't that kind of ridiculous overreaction.

[fitty]

Yes, but I hope they don't. The law may be the law, and Mt Gox can improve, but he doesn't deserve to be arrested for this.

Definitely not. Something like this should never lead to jail time. They are registered for their main business so it's obviously just an oversight. I bet a hefty fine is all that will be levied.

I do remember the heavy handed way the Feds dealt with the online poker companies though. Hopefully this isn't that kind of ridiculous overreaction.

No one will go to jail. Big banks get caught laundering money for drug cartels and just get a fine. BOA gets caught screwing people out of their homes, they get a fine. The US Govt much prefers money then a trial.

[ChartBuddy]

[wonkytonky]

Gox www lagging hard/API unresponsive/broken for anyone else?

MtGox appears to be down.

Again.

api seems to have problems .. .. not sure about the website.. i dont use it

[telemaco]

Maybe is just a continuation of the limitations in United States against online gambling

If is something related to gambling and the warrant issuer feds from Maryland continue their war against online gambling the bad news might not be so severe in the way that it might not be worldwide (they have limited gambling related sites from usa but not from the rest of the world), so the damage to bitcoin might not be "global" with warrant requests all over the world like they requested from New Zealand to fight against K. Dotcom. Also fighting against gambling might not have the same popular backing as calling a war against bitcoin in order to fight terrorism, child abuse or some other things so might be quite impopular for them to just declare war on bitcoin. That is not reason enough for a total war against bitcoin and I hope for that reason we won't see requests to ban MtGox on Japan or continuation of seizures with other US exchanges.

[Pale Phoenix]

No excuse? It's only been a month, and these things take time and can be very onerous.

Gox has had it hard lately -- Repeated DDOS, unfriendly business "partners" suing them for not giving up their customers, and now this...

I really hope the last two points (or indeed all of them) aren't related. That would be more than disappointing.

It hasn't really only been a month... it's been a few years so someone should have caught it. A multi million dollar company should be able to walk and chew gum at the same time. I doubt their lawyers are manning the Network Operations Center.

I was just saying that the recent news of the regulations should have caused someone over there to make sure they were compliant. Perhaps it does take longer than a month to get registered but I don't think so. It's a simple form that you fill out and submit online.
http://www.fincen.gov/financial_institutions/msb/msb.registration.html

[crumbcake]

http://www.rtcons.com/wall/15840.17.png

What's wrong, ChartBuddy

[shad0wbitz]

It is not improbable that a separate charge is lodged against Mark Karpeles and be extradited,  being single owner of Mutum Sigillum LLC, based in Delaware.

Isn't Mark attending bitcoin2013 ? It's located in the US, so that would be a good time to arrest him wouldn't it? Not that Japan wouldn't extradite him. But this sounds like a good opportunity to bring him to "justice" quickly.

I really really hope Mark never visits the US. But who knows.

It would be very foolish for Mark to attend said conference. But then again, the man is a FOOL.

[crumbcake]

Seems like a ddos on Mt.Gox loads once in a while, price 15 secs ago was 14.985 showing.

[Pale Phoenix]

Also fighting against gambling might not have the same popular backing as calling a war against bitcoin in order to fight terrorism, child abuse or some other things so might be quite impopular for them to just declare war on bitcoin.

The connection to online gambling makes sense, as the Feds have proven in the past that they will take down payment processers who enable it.

A few years ago, the Australian owner of a payment processor was arrested while he was in Vegas.
http://www.pokernewsdaily.com/internet-gambling-payment-processor-arrested-in-las-vegas-9864/

And there have been many other processors that have had their funds seized for getting anywhere near gambling.

[SZD]

Are we seeing panic buying yet?

[wilfried]

in europe "getting registered" is not easy, see
http://eur-lex.europa.eu/LexUriServ/LexUriServ.do?uri=OJ:L:2007:319:0001:01:EN:HTML

[dasein]

Maybe is just a continuation of the limitations in United States against online gambling

If is something related to gambling and the warrant issuer feds from Maryland continue their war against online gambling the bad news might not be so severe in the way that it might not be worldwide (they have limited gambling related sites from usa but not from the rest of the world), so the damage to bitcoin might not be "global" with warrant requests all over the world like they requested from New Zealand to fight against K. Dotcom. Also fighting against gambling might not have the same popular backing as calling a war against bitcoin in order to fight terrorism, child abuse or some other things so might be quite impopular for them to just declare war on bitcoin. That is not reason enough for a total war against bitcoin and I hope for that reason we won't see requests to ban MtGox on Japan or continuation of seizures with other US exchanges.

Based on the warrant, the seizure seems to be solely caused by Gox's failure to register as a MSB.

[Hawkix]

Are we seeing panic buying yet?

I am afraid the trading engine has been stopped.

[fr33d0miz3r]

Are we seeing panic buying yet?

no, just panic selling

[Brushan]

I've said it before and i'm saying it again. Mark clearly doesn't have what it takes to run a company with the responsibility and size of Mt.Gox. He should sell it and retire for his own good.

[Richy_T]

What's wrong, ChartBuddy

Not sure. Thought it was just a failure to upload but there was no png created. I'm running manually.

Ah, bad data from Gox causing a crash.