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Author Topic: MtGox account in the USA has been seized by the DHS?  (Read 25621 times)
CurbsideProphet
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May 14, 2013, 10:12:06 PM
 #101

I do not really care much about getting dollars from MtGox. But I mainly use MtGox to transfer my government currency to bitcoins. They have been the cheapest, 25 cents for Dwolla plus .5% at MtGox.

Has CoinBase gotten their act together to allow for larger purchases?


Transferring $1 out of MtGox to Dwolla to test this out btw.

The max limit is still 50BTC per day.  It used to be 100BTC before the price rise.

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May 14, 2013, 10:17:29 PM
 #102

DHS mostly takes down sports streaming websites (terrorist hangout).  Roll Eyes

BTC = Black Swan.
BTC = Antifragile - "Some things benefit from shocks; they thrive and grow when exposed to volatility, randomness, disorder, and stressors and love adventure, risk, and uncertainty. Robust is not the opposite of fragile.
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May 14, 2013, 10:17:46 PM
 #103

I think this is good news! Let's get this party started! I hope they close all legal ways to trade for fiat.
Maybe then we'll finally be rid of speculators who are only in bitcoin to make fiat and cash out.
Maybe it will bring more people who are willing to buy and sell goods and services for Bitcoin, rather than converting it to fiat as soon as they get it.

Clearly you aren't an on-line merchant! No chance we'd support Bitcoin if we couldn't convert to fiat and the same will go for almost everyone out there.


Raoul Duke
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May 14, 2013, 10:19:17 PM
 #104

I do not really care much about getting dollars from MtGox. But I mainly use MtGox to transfer my government currency to bitcoins. They have been the cheapest, 25 cents for Dwolla plus .5% at MtGox.

Has CoinBase gotten their act together to allow for larger purchases?


Transferring $1 out of MtGox to Dwolla to test this out btw.

The max limit is still 50BTC per day.  It used to be 100BTC before the price rise.

send them to my account. I can withdraw 1000 BTC per day. Grin
It's wonderful not being an americunt. lol

mccorvic
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May 14, 2013, 10:22:58 PM
 #105

Has CoinBase gotten their act together to allow for larger purchases?

No-ish.

I was using them regularly and then, when the price crashed to 60 or whatever a month ago I bought a fairly large sum and Coinbase decided I was all of a sudden a fraud risk for no raisin.

Made me miss out on real cheap coins Sad

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May 14, 2013, 10:27:08 PM
 #106

I do not really care much about getting dollars from MtGox. But I mainly use MtGox to transfer my government currency to bitcoins. They have been the cheapest, 25 cents for Dwolla plus .5% at MtGox.

Has CoinBase gotten their act together to allow for larger purchases?


Transferring $1 out of MtGox to Dwolla to test this out btw.

The max limit is still 50BTC per day.  It used to be 100BTC before the price rise.

send them to my account. I can withdraw 1000 BTC per day. Grin
It's wonderful not being an americunt. lol

I'm American (F U btw) and my BTC withdrawal limit has been set to 1000 BTC/day since my Gox account was verified 6 months ago.
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May 14, 2013, 10:27:30 PM
 #107

Has CoinBase gotten their act together to allow for larger purchases?

No-ish.

I was using them regularly and then, when the price crashed to 60 or whatever a month ago I bought a fairly large sum and Coinbase decided I was all of a sudden a fraud risk for no raisin.

Made me miss out on real cheap coins Sad

What some exchanges will do is gamble with the bitcoins of their customers, if the price would go down they would be more than willing to give you the coins.
btbrae
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May 14, 2013, 10:28:06 PM
 #108

... I bought a fairly large sum and Coinbase decided I was all of a sudden a fraud risk for no raisin.

What does that have to do with currant affairs?
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May 14, 2013, 10:31:59 PM
 #109

... I bought a fairly large sum and Coinbase decided I was all of a sudden a fraud risk for no raisin.

What does that have to do with currant affairs?

"Well that settles it, btbrae gets the award for the best off-the-cuff response"
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May 14, 2013, 10:36:13 PM
 #110

I just received an email from Dwolla, which is strange because I've had no MtGox<->Dwolla transfers pending or completed for quite some time:

Quote
An incoming money transfer has been cancelled

A pending incoming transfer from Mutum Sigillum LLC (Dwolla account ID # xxx-xxx-xxxx) was cancelled.

To view your latest account activity please log in at https://www.dwolla.com.

Thanks,
Team Dwolla

So I looked into this, and sure enough I have a withdrawal from Mt.Gox of $20 from April, 2012 that is now listed as "cancelled".

And my current Dwolla balance now shows $-19.75

The even stranger part is that I've had plenty of other Mt.Gox->Dwolla withdrawals for much more money and much more recent that haven't been altered.

So WTF Dwolla, are you now retroactively canceling our cleared payments from over 1 year ago (ala "Tradehill")??

Seriously?

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May 14, 2013, 10:37:19 PM
 #111

If only there were a way to move value around without the threat of it getting seized by a third party.  Somebody should invent something.
Klestin
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May 14, 2013, 10:39:02 PM
 #112

What does that have to do with currant affairs?
I think it's salent.

/OK, I had to pick a French word to play, but what the hell
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May 14, 2013, 10:39:13 PM
 #113

STILL no response from MtGox on the issue, despite people berating them on FB and twitter
Raoul Duke
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May 14, 2013, 10:41:52 PM
 #114

I do not really care much about getting dollars from MtGox. But I mainly use MtGox to transfer my government currency to bitcoins. They have been the cheapest, 25 cents for Dwolla plus .5% at MtGox.

Has CoinBase gotten their act together to allow for larger purchases?


Transferring $1 out of MtGox to Dwolla to test this out btw.

The max limit is still 50BTC per day.  It used to be 100BTC before the price rise.

send them to my account. I can withdraw 1000 BTC per day. Grin
It's wonderful not being an americunt. lol

I'm American (F U btw) and my BTC withdrawal limit has been set to 1000 BTC/day since my Gox account was verified 6 months ago.

DIE AMERICUNT!

glendall
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May 14, 2013, 10:46:50 PM
 #115

I'm predicting that the official word will be that this is to stop terrorists.  That's the catchphrase everyone uses now to rally support.  Heck, even Syria's Assad calls his rebels terrorists for the same purpose.

Call me an aluminium hat wearing cray cray individual but just wait until a terrorist attack or kidnapping happens and they surprisingly find out a tie to BTC... Israel has already claimed that Bitcoin is related to terrorism and painted it in propoganda, guess some countries are getting a head start  Grin Business: Virtual terror finance

Well pretty much anything that goes against the corporate interests that dictate policy to the US gov is 'terrorism'.

I always expected BTC to be tied to the blood-drinking terrorists boogeymen at some point, because banks don't want to loose their monopoly on currency.
nebulus
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May 14, 2013, 10:48:46 PM
 #116

So WTF Dwolla, are you now retroactively canceling our cleared payments from over 1 year ago (ala "Tradehill")??

Hahaha... seems like someone is trying to win some time here...

mgio
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May 14, 2013, 10:51:22 PM
 #117

I'm really shock bitcoin price hasn't crashed with this news. $119 to $114 isn't really a crash.

I wonder if we will see a slow decline over the next few days as this gets reported in the news.

This could be very bad for bitcoin if it is a sign that the US govt is cracking down. If they manage to shut down the exchanges or prevent anyone from sending US dollars to them, if could effectively kill bitcoin. And no, I don't think bitcoin can survive as a currency that exists everywhere but the US. This is scary and I'm surprised the market has not reflected this yet.

Hopefully this was because of some misuse of MtGox's dwolla account when it comes to AML regulations and not a sign of things to come.
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May 14, 2013, 10:54:06 PM
 #118

I'm really shock bitcoin price hasn't crashed with this news. $119 to $114 isn't really a crash.

I wonder if we will see a slow decline over the next few days as this gets reported in the news.

This could be very bad for bitcoin if it is a sign that the US govt is cracking down. If they manage to shut down the exchanges or prevent anyone from sending US dollars to them, if could effectively kill bitcoin. And no, I don't think bitcoin can survive as a currency that exists everywhere but the US. This is scary and I'm surprised the market has not reflected this yet.

Hopefully this was because of some misuse of MtGox's dwolla account when it comes to AML regulations and not a sign of things to come.

On the other hand, it could highlight exactly why bitcoin is useful by showcasing how it's possible, against the wishes of a government, to nearly instantly transfer value around the world without the realistic possibility of the funds getting seized.
w8ks6
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May 14, 2013, 10:56:37 PM
 #119

Clearly you aren't an on-line merchant! No chance we'd support Bitcoin if we couldn't convert to fiat and the same will go for almost everyone out there.
Cool. Free country. (Well, not really free, but we all already knew that deep down.)

If Bitcoin without fiat is only useful for buying drugs and occasional 10k pizzas, I think it's best we find that out now. No need to waste time.

I bet it's useful for more than that though. Let's see.

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May 14, 2013, 10:58:36 PM
 #120

Clearly you aren't an on-line merchant! No chance we'd support Bitcoin if we couldn't convert to fiat and the same will go for almost everyone out there.
Cool. Free country. (Well, not really free, but we all already knew that deep down.)

If Bitcoin without fiat is only useful for buying drugs and occasional 10k pizzas, I think it's best we find that out now. No need to waste time.

I bet it's useful for more than that though. Let's see.



But you need to get your fiat converted to bitcoin to begin with.  Unless you want Bitcoin to only be for the miners or only for people who sell things to people who have bitcoin.   In that case it is massive FAIL for bitcoin for anything but a very small niche market.   Of course that is what is inevitable because the big Banks will make this happen but it's definitely not a good thing.
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