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Author Topic: Dwolla stopped from dealing with MtGox!  (Read 3968 times)
greyhawk
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May 14, 2013, 08:31:19 PM
 #21

Is there any legitimate proof outside of bitcointalk.org about this announcement?

No, no there isn't. Several dozen people on BTCTalk and Reddit just decided to go post about the same email they got at the same time. It's a flashmob.
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CurbsideProphet
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May 14, 2013, 08:31:51 PM
 #22

Wow talk about good timing, I emptied my Gox account via Dwolla two days ago.  Beginning of the end for MtGox I think, and good riddance.

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May 14, 2013, 08:32:40 PM
 #23

Now is a good time to gamble with your bitcoins lol
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May 14, 2013, 08:33:37 PM
 #24

A lot of people are panicking in the wrong direction.

If this is true, the last thing you should do is sell your BTC on Mt Gox for USD, because you might lose access to those dollars for an indefinite period of time. A more productive way to panic would be to buy up as many BTC as possible and withdraw those.
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May 14, 2013, 08:36:29 PM
 #25

A lot of people are panicking in the wrong direction.

If this is true, the last thing you should do is sell your BTC on Mt Gox for USD, because you might lose access to those dollars for an indefinite period of time. A more productive way to panic would be to buy up as many BTC as possible and withdraw those.

You can't cure stupid Tongue

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May 14, 2013, 08:36:41 PM
 #26

Yes it's best to transfer bitcoins to another exchange, sell there and get your money out safely, instead of MtGox
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May 14, 2013, 08:37:01 PM
 #27

A lot of people are panicking in the wrong direction.

If this is true, the last thing you should do is sell your BTC on Mt Gox for USD, because you might lose access to those dollars for an indefinite period of time. A more productive way to panic would be to buy up as many BTC as possible and withdraw those.

And then go to another exchange and crash there.

Introducing constraints to the economy only serves to limit what can be economical.
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May 14, 2013, 08:39:05 PM
 #28

A lot of people are panicking in the wrong direction.

If this is true, the last thing you should do is sell your BTC on Mt Gox for USD, because you might lose access to those dollars for an indefinite period of time. A more productive way to panic would be to buy up as many BTC as possible and withdraw those.

And then go to another exchange and crash there.

What about keeping the BTC? Not a valid option, or...?

CurbsideProphet
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May 14, 2013, 08:41:49 PM
 #29

A lot of people are panicking in the wrong direction.

If this is true, the last thing you should do is sell your BTC on Mt Gox for USD, because you might lose access to those dollars for an indefinite period of time. A more productive way to panic would be to buy up as many BTC as possible and withdraw those.

Yup this is the best course of action and it will give much needed liquidity to other exchanges and away from Gox.  I was concerned about the lawsuit so I moved the remaining fiat out of my Gox account in case SHTF down the road with the lawsuit.  I didn't think anything would happen this quickly although we don't know if the two are related or not.

I'll probably do purchases going forward via Coinbase (have used them multiple times in the past, great service).  Fiat stays in my FDIC insured bank account until I need to make a purchase, then I move the BTC out of Coinbase once the ACH clears to a paper wallet.  Minimizes the time you have to trust these exchanges.

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stochastic
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May 14, 2013, 08:43:37 PM
 #30

A lot of people are panicking in the wrong direction.

If this is true, the last thing you should do is sell your BTC on Mt Gox for USD, because you might lose access to those dollars for an indefinite period of time. A more productive way to panic would be to buy up as many BTC as possible and withdraw those.

And then go to another exchange and crash there.

What about keeping the BTC? Not a valid option, or...?

I figure people that want to withdrawal USD from MtGox and buy bitcoins to transfer them to another exchange to sell them would still want to withdrawal their USD.

Introducing constraints to the economy only serves to limit what can be economical.
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May 14, 2013, 08:43:58 PM
 #31

http://betabeat.com/2013/05/department-of-homeland-security-shuts-down-dwolla-payments-to-and-from-mt-gox/
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May 14, 2013, 08:44:07 PM
 #32

A lot of people are panicking in the wrong direction.

If this is true, the last thing you should do is sell your BTC on Mt Gox for USD, because you might lose access to those dollars for an indefinite period of time. A more productive way to panic would be to buy up as many BTC as possible and withdraw those.

Absolutely true.  
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May 14, 2013, 08:47:18 PM
 #33

Wow. Yet another reason not to deal with MtGox.

Is this related to the Coinlabs lawsuit?

What's the best way in the US to get USD out of BTC? Coinbase?

I have used this for my transfers, and not had a problem or delay:
https://www.aurumxchange.com/

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May 14, 2013, 08:48:46 PM
 #34

Is there any legitimate proof outside of bitcointalk.org about this announcement?

No, no there isn't. Several dozen people on BTCTalk and Reddit just decided to go post about the same email they got at the same time. It's a flashmob.

Yes, this is probably what's happening  Tongue

DexX7, here is your outside source: http://betabeat.com/2013/05/department-of-homeland-security-shuts-down-dwolla-payments-to-and-from-mt-gox/

All previous versions of currency will no longer be supported as of this update
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May 14, 2013, 08:50:10 PM
 #35


i've had a long time Dwolla acct and i've not received any email...

Make a withdrawal from gox.  You'll get an email instead of your withdrawal.  I figured this could be a hoax so I threw a dollar at DHS Smiley

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May 14, 2013, 08:55:30 PM
 #36

Now is a good time to gamble with your bitcoins lol

Amen!

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May 14, 2013, 08:57:31 PM
 #37

here comes...... Streisand!?

ok
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May 14, 2013, 09:05:44 PM
 #38

Yes it's best to transfer bitcoins to another exchange, sell there and get your money out safely, instead of MtGox
Or just use international bank transfer or another method to save you some trouble and get a better price for your coins.  (Unless you only have a tiny amount to sell, which any exchange can handle.)

I don't quite understand the drama this causes.  SEPA withdrawals are delayed 4 weeks now, and have been disabled many times.  This hasn't caused much disruption to the price.  Only 30-40% of MtGox customers are based in the USA, and almost all of them have other options to get money in and out of MtGox.

Sjå https://bitmynt.no for veksling av bitcoin mot norske kroner.  Trygt, billig, raskt og enkelt sidan 2010.
I buy with EUR and other currencies at a fair market price when you want to sell.  See http://bitmynt.no/eurprice.pl
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May 14, 2013, 09:12:23 PM
 #39

Your attempts to downplay this look pretty silly.

Yes it's best to transfer bitcoins to another exchange, sell there and get your money out safely, instead of MtGox
Or just use international bank transfer or another method to save you some trouble and get a better price for your coins.  (Unless you only have a tiny amount to sell, which any exchange can handle.)

I don't quite understand the drama this causes.  SEPA withdrawals are delayed 4 weeks now, and have been disabled many times.  This hasn't caused much disruption to the price.  Only 30-40% of MtGox customers are based in the USA, and almost all of them have other options to get money in and out of MtGox.

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n8rwJeTt8TrrLKPa55eU
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May 14, 2013, 09:13:08 PM
 #40

On the plus side, now we'll get to find out whether most of Dwolla's usage is, in fact, for moving dollars from the USA to MtGox and viceversa.

If that's the case, the people who really need to be concerned about this news are the Dwolla employees and the VCs and angels who have done Dwolla funding rounds.
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