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Author Topic: Dwolla can no longer process deposits or withdrawals to MtGox  (Read 12842 times)
chsados
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May 14, 2013, 10:31:12 PM
 #101

Department of Homeland Security is about money laundering/terrorism financing/drug trafficking..
Call me alarmist but, once the big players and Vc's read the charges against gox, realizing that the largest btc exchanger which hold all their millions, is now in jeopardy with a US govt agency,i'll let you imagine the continuing slipping of price in the coming days/hours as this bad news is fully digested..

Another poster brought this up, but we may see a large rally here. All those with fiat in gox should convert to BTC and get them to a safe wallet. This would cause a rise (maybe temporary, but still).

Why do you think that?  Maybe the uninformed will do this - but this is only effecting Gox's US based dwolla account.
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Crypt_Current
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May 14, 2013, 10:34:26 PM
 #102

My initial reaction is a very large sinking feeling in my stomach...
reading through thread now ...
 Embarrassed Embarrassed Embarrassed

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May 14, 2013, 10:39:14 PM
 #103

Any speculation as to the DHS motion for a court order? Why only Mt Gox and not CampBX?

Because MtGox trades 60% of the world market.
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May 14, 2013, 10:43:30 PM
 #104

So 14/15 of May will be the day when the USA set themself up for failure again....
Like when they went to Afganistan to destroy their economy.
The day they think they have any real control over bitcoin is when they destroy
the tiny bit that is left of their international credibility.


don't let me make you question your assumptions
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May 14, 2013, 10:47:02 PM
 #105

My initial reaction is a very large sinking feeling in my stomach...
reading through thread now ...
 Embarrassed Embarrassed Embarrassed

Is this stabilization we are seeing at the moment people buying BTC before they transfer them out of Gox? DHS seizing GOX accounts would make me run for the hills. I am expecting a plunge any moment.
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May 14, 2013, 10:50:25 PM
 #106

Any speculation as to the DHS motion for a court order? Why only Mt Gox and not CampBX?

Because MtGox trades 60% of the world market.

If they were going after the bitcoin market as a whole, they would target every exchange at once. There must be something specific to the court order against Mt Gox, not bitcoin as a whole.
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May 14, 2013, 10:52:03 PM
 #107

Department of Homeland Security is about money laundering/terrorism financing/drug trafficking..
Call me alarmist but, once the big players and Vc's read the charges against gox, realizing that the largest btc exchanger which hold all their millions, is now in jeopardy with a US govt agency,i'll let you imagine the continuing slipping of price in the coming days/hours as this bad news is fully digested..

Another poster brought this up, but we may see a large rally here. All those with fiat in gox should convert to BTC and get them to a safe wallet. This would cause a rise (maybe temporary, but still).

LOL, the only thing keeping the price up right now is the swing traders.

Once the swings get too small this could turn very ugly very quickly.

Dwolla isn't used by people who transfer huge amounts of money so it's largely irrelevant. Also anyone can send a wire / SWIFT payment to or from their bank account, it just costs a bit more.
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May 14, 2013, 10:53:20 PM
 #108

If they were going after the bitcoin market as a whole, they would target every exchange at once. There must be something specific to the court order against Mt Gox, not bitcoin as a whole.

I think you have too much faith in the US Gov... They are slow lumbering beasts with stuff like this.  If it is an attack, then we will probably see a couple of things like this occur in the year not a whole sale crack down.
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May 14, 2013, 11:01:54 PM
 #109

One country investigating one account for one exchange.  That doesn't really sound like the end of the bitworld.

They're trying to buy all the coins. 
We must not let them.
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May 14, 2013, 11:05:05 PM
 #110

One country evil empire investigating one account for one exchange.  That doesn't really sound like the end of the bitworld.

FTFY.  Wink
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May 14, 2013, 11:05:30 PM
 #111

Department of Homeland Security is about money laundering/terrorism financing/drug trafficking..
Call me alarmist but, once the big players and Vc's read the charges against gox, realizing that the largest btc exchanger which hold all their millions, is now in jeopardy with a US govt agency,i'll let you imagine the continuing slipping of price in the coming days/hours as this bad news is fully digested..

Another poster brought this up, but we may see a large rally here. All those with fiat in gox should convert to BTC and get them to a safe wallet. This would cause a rise (maybe temporary, but still).

LOL, the only thing keeping the price up right now is the swing traders.

Once the swings get too small this could turn very ugly very quickly.

Dwolla isn't used by people who transfer huge amounts of money so it's largely irrelevant. Also anyone can send a wire / SWIFT payment to or from their bank account, it just costs a bit more.


"a bit" = 10x more... HUGE difference for the small-time likes of me.
I'm moving my coins over to CampBX; there's a referral link in my sig if you want 10% off there.

10% off at CampBX for LIFE:  https://campbx.com/main.php?r=C9a5izBQ5vq  ----  Authorized BitVoucher MEGA reseller (& BTC donations appreciated):  https://bitvoucher.co/affl/1HkvK8o8WWDpCTSQGnek7DH9gT1LWeV5s3/
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May 14, 2013, 11:24:21 PM
 #112

not that it will happen this time, but i really wish
that gox goes away...

don't let me make you question your assumptions
Crypt_Current
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May 14, 2013, 11:27:28 PM
 #113

not that it will happen this time, but i really wish
that gox goes away...

I'll be fine with that as long as CampBX (or someone in the US) continues making it easy (i.e. working with Dwolla) to get my fiat out of the exchange.

Maybe we need more Dwolla-type things in the US?

10% off at CampBX for LIFE:  https://campbx.com/main.php?r=C9a5izBQ5vq  ----  Authorized BitVoucher MEGA reseller (& BTC donations appreciated):  https://bitvoucher.co/affl/1HkvK8o8WWDpCTSQGnek7DH9gT1LWeV5s3/
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Qoheleth
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May 14, 2013, 11:32:46 PM
 #114

Mt. Gox's big advantage, other than liquidity, has been that moving money in and out only costs 25c (rather than the $25 of a bankwire).

Given this development, decentralized exchange between BTC and national currency is becoming more important than ever. I have to rethink my strategy too.

I'll be fine with that as long as CampBX (or someone in the US) continues making it easy (i.e. working with Dwolla) to get my fiat out of the exchange.
CampBX supports Dwolla? That's good to hear, at least.

If there is something that will make Bitcoin succeed, it is growth of utility - greater quantity and variety of goods and services offered for BTC. If there is something that will make Bitcoin fail, it is the prevalence of users convinced that BTC is a magic box that will turn them into millionaires, and of the con-artists who have followed them here to devour them.
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May 14, 2013, 11:33:35 PM
 #115

not that it will happen this time, but i really wish
that gox goes away...

I'll be fine with that as long as CampBX (or someone in the US) continues making it easy (i.e. working with Dwolla) to get my fiat out of the exchange.

Maybe we need more Dwolla-type things in the US?
Yeah, we need more Ashton Kutchers in the world.  Roll Eyes

Don't mix your coins someone said isn't legal
Crypt_Current
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May 14, 2013, 11:58:33 PM
 #116

Oh yeah, how could I forget?  Anyone looking for receipt of fiat via Dwolla from BTC sales in the US, there's also Tangible Cryptography (fastcash4bitcoins.com), run by forum member DeathAndTaxes.

10% off at CampBX for LIFE:  https://campbx.com/main.php?r=C9a5izBQ5vq  ----  Authorized BitVoucher MEGA reseller (& BTC donations appreciated):  https://bitvoucher.co/affl/1HkvK8o8WWDpCTSQGnek7DH9gT1LWeV5s3/
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May 15, 2013, 12:00:11 AM
 #117

not that it will happen this time, but i really wish
that gox goes away...

I'll be fine with that as long as CampBX (or someone in the US) continues making it easy (i.e. working with Dwolla) to get my fiat out of the exchange.

Maybe we need more Dwolla-type things in the US?
Yeah, we need more Ashton Kutchers in the world.  Roll Eyes

Did the actor invent something like Dwolla, like, in the real-life meat-space?
Or is this a reference to the TV show?
If it's a reference, I can only muster a panting laugh, a la Sheldon Cooper.  (swing and a miss)

10% off at CampBX for LIFE:  https://campbx.com/main.php?r=C9a5izBQ5vq  ----  Authorized BitVoucher MEGA reseller (& BTC donations appreciated):  https://bitvoucher.co/affl/1HkvK8o8WWDpCTSQGnek7DH9gT1LWeV5s3/
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Streets 2.0
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May 15, 2013, 12:02:14 AM
 #118

Anyone else notice the influx and lag on Bitstamp? lol

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May 15, 2013, 12:14:16 AM
 #119

I don't understand the mass sell-off and panic.

You can still use Dwolla -> BitInstant -> MtGox

Or Dwolla -> CampBx

Or BitInstant Cash deposit -> Key -> MtGox

Or Bank Transfer ->MtGox

Or Dwolla ->Okpay -> MtGox

Should I go on?

 O FUG THE GUVMENT TYIN TA SHUT DWN BITCOIN

Guise, srsly, our market cap is what it would probably cost to shut it down. We're such a small piece of the pie I can't see any major body (for the time being) giving a second thought to the power we attribute to bitcoin.
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May 15, 2013, 12:16:00 AM
 #120

Your mistake is to overthink this.

If the market say sell, you sell.
Really, the market doesn't care for reality.
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