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chsados
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May 14, 2013, 10:31:12 PM |
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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 |
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My initial reaction is a very large sinking feeling in my stomach... reading through thread now ...  |
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Dalib
Full Member
 Offline
Activity: 462
Merit: 101
A Top Web 3 Gaming Layer2 Provider
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May 14, 2013, 10:39:14 PM |
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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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SaintFlow
Sr. Member
Offline
Activity: 476
Merit: 250
The first is by definition not flawed.
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May 14, 2013, 10:43:30 PM |
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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.
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don't let me make you question your assumptions
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sve9mark
Newbie
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Activity: 39
Merit: 0
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May 14, 2013, 10:47:02 PM |
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My initial reaction is a very large sinking feeling in my stomach... reading through thread now ... 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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sve9mark
Newbie
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Activity: 39
Merit: 0
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May 14, 2013, 10:50:25 PM |
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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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samson
Legendary
Offline
Activity: 2097
Merit: 1068
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May 14, 2013, 10:52:03 PM |
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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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dandirk
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May 14, 2013, 10:53:20 PM |
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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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KFR
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May 14, 2013, 11:01:54 PM |
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One country investigating one account for one exchange. That doesn't really sound like the end of the bitworld.
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They're trying to buy all the coins.
We must not let them.
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Frozenlock
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May 14, 2013, 11:05:05 PM |
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One country evil empire investigating one account for one exchange. That doesn't really sound like the end of the bitworld.
FTFY.  |
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Crypt_Current
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May 14, 2013, 11:05:30 PM |
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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. |
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SaintFlow
Sr. Member
Offline
Activity: 476
Merit: 250
The first is by definition not flawed.
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May 14, 2013, 11:24:21 PM |
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not that it will happen this time, but i really wish
that gox goes away...
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don't let me make you question your assumptions
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Crypt_Current
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May 14, 2013, 11:27:28 PM |
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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? |
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Qoheleth
Legendary
Offline
Activity: 960
Merit: 1028
Spurn wild goose chases. Seek that which endures.
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May 14, 2013, 11:32:46 PM |
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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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Kluge
Donator
Legendary
Offline
Activity: 1218
Merit: 1015
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May 14, 2013, 11:33:35 PM |
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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.  |
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Crypt_Current
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May 14, 2013, 11:58:33 PM |
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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.
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Crypt_Current
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May 15, 2013, 12:00:11 AM |
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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. 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) |
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Streets 2.0
Full Member
Offline
Activity: 490
Merit: 101
FRX: Ferocious Alpha
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May 15, 2013, 12:02:14 AM |
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Anyone else notice the influx and lag on Bitstamp? lol
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solidshotnosh
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May 15, 2013, 12:14:16 AM |
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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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Frozenlock
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May 15, 2013, 12:16:00 AM |
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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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