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Author Topic: How much $ was the balance of MtGox Dwolla account?  (Read 2327 times)
wopwop
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May 14, 2013, 08:46:35 PM
 #1

Or:
How much of the bid wall is now fake?




I speculate about $ 10 million or higher


not less that's for sure, seeing as the Coinlab <-> MtGox deal has figures going at about $ 50 million
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epetroel
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May 14, 2013, 08:54:49 PM
 #2

Or:
How much of the bid wall is now fake?




I speculate about $ 10 million or higher


not less that's for sure, seeing as the Coinlab <-> MtGox deal has figures going at about $ 50 million

Why would their dwolla balance have anything to do with the bids on the order book?
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May 14, 2013, 08:56:05 PM
 #3

Or:
How much of the bid wall is now fake?




I speculate about $ 10 million or higher


not less that's for sure, seeing as the Coinlab <-> MtGox deal has figures going at about $ 50 million

Why would their dwolla balance have anything to do with the bids on the order book?
Is this the average intelligence of bitcoin forum lurkers?
epetroel
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May 14, 2013, 09:00:56 PM
 #4

Or:
How much of the bid wall is now fake?




I speculate about $ 10 million or higher


not less that's for sure, seeing as the Coinlab <-> MtGox deal has figures going at about $ 50 million

Why would their dwolla balance have anything to do with the bids on the order book?
Is this the average intelligence of bitcoin forum lurkers?

If you're referring to MtGox not having enough money to cover their user's balances anymore (a good possibility) then I would understand.  But the bids are still based on money in the user's Gox account.  If anything I would expect bids to go up as people try to "cash out" to coins and move their coins out of the exchange.
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May 14, 2013, 09:01:06 PM
 #5

Or:
How much of the bid wall is now fake?




I speculate about $ 10 million or higher


not less that's for sure, seeing as the Coinlab <-> MtGox deal has figures going at about $ 50 million

Why would their dwolla balance have anything to do with the bids on the order book?

Because how else do you spread FUD?

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wopwop
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May 14, 2013, 09:06:45 PM
 #6

Well if the lost money (on mtgox's dwola account) is relatively little and mtgox has other buffers (sure they charge 0.6% so they have money), then mtgox can probably absorb the loss instead of the users
notme
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May 14, 2013, 09:08:22 PM
 #7

Well if the lost money (on mtgox's dwola account) is relatively little and mtgox has other buffers (sure they charge 0.6% so they have money), then mtgox can probably absorb the loss instead of the users

Who ever said the money was lost?  You seem to be speculating based on assumptions you have no evidence for.

https://www.bitcoin.org/bitcoin.pdf
While no idea is perfect, some ideas are useful.
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wopwop
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May 14, 2013, 09:18:06 PM
 #8

Well if the lost money (on mtgox's dwola account) is relatively little and mtgox has other buffers (sure they charge 0.6% so they have money), then mtgox can probably absorb the loss instead of the users

Who ever said the money was lost?  You seem to be speculating based on assumptions you have no evidence for.
This is the speculation forum

loléd
notme
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May 14, 2013, 09:20:11 PM
 #9

Well if the lost money (on mtgox's dwola account) is relatively little and mtgox has other buffers (sure they charge 0.6% so they have money), then mtgox can probably absorb the loss instead of the users

Who ever said the money was lost?  You seem to be speculating based on assumptions you have no evidence for.
This is the speculation forum

loléd

Speculation is obviously guessing, but you should at least guess based on facts, not based on other guesses.

https://www.bitcoin.org/bitcoin.pdf
While no idea is perfect, some ideas are useful.
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wopwop
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May 14, 2013, 09:22:51 PM
 #10

Well if the lost money (on mtgox's dwola account) is relatively little and mtgox has other buffers (sure they charge 0.6% so they have money), then mtgox can probably absorb the loss instead of the users

Who ever said the money was lost?  You seem to be speculating based on assumptions you have no evidence for.
This is the speculation forum

loléd

Speculation is obviously guessing, but you should at least guess based on facts, not based on other guesses.
Well I base it on that the Dwolla account has been seized

I'd say the money on there is lost indefinitely

I assume that the balance on MtGox Dwolla account as atleast higher than 0

Pretty solid basis imo
notme
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May 14, 2013, 09:26:26 PM
 #11

Well if the lost money (on mtgox's dwola account) is relatively little and mtgox has other buffers (sure they charge 0.6% so they have money), then mtgox can probably absorb the loss instead of the users

Who ever said the money was lost?  You seem to be speculating based on assumptions you have no evidence for.
This is the speculation forum

loléd

Speculation is obviously guessing, but you should at least guess based on facts, not based on other guesses.
Well I base it on that the Dwolla account has been seized

I'd say the money on there is lost indefinitely

I assume that the balance on MtGox Dwolla account as atleast higher than 0

Pretty solid basis imo

Can you point to a direct communicaton from Dwolla or MtGox that says the funds are seized?

Everything I've seen says transactions aren't allowed, not that Dwolla has seized the funds.

https://www.bitcoin.org/bitcoin.pdf
While no idea is perfect, some ideas are useful.
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TheJuice
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May 14, 2013, 10:21:44 PM
 #12

If the funds were seized, then I see how it follows that the bid walls are fake. But I imagine most of GOX money is not in Dwolla, so I wouldn't worry that much.

*converts gox fiat to BTC and cashes safely into wallet*

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May 14, 2013, 11:22:59 PM
 #13

Well if the lost money (on mtgox's dwola account) is relatively little and mtgox has other buffers (sure they charge 0.6% so they have money), then mtgox can probably absorb the loss instead of the users

Who ever said the money was lost?  You seem to be speculating based on assumptions you have no evidence for.
This is the speculation forum

loléd

Speculation is obviously guessing, but you should at least guess based on facts, not based on other guesses.

Common assumption: When a us agency seizes your account, chances of recovering funds are very slim

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notme
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May 15, 2013, 02:16:36 AM
 #14

Well if the lost money (on mtgox's dwola account) is relatively little and mtgox has other buffers (sure they charge 0.6% so they have money), then mtgox can probably absorb the loss instead of the users

Who ever said the money was lost?  You seem to be speculating based on assumptions you have no evidence for.
This is the speculation forum

loléd

Speculation is obviously guessing, but you should at least guess based on facts, not based on other guesses.

Common assumption: When a us agency seizes your account, chances of recovering funds are very slim

Again, please point to a communication directly from MtGox, Dwolla, or the US government that states the funds are seized.  All I've seen is the account is frozen, plus some journalistic embellishment.

https://www.bitcoin.org/bitcoin.pdf
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Stephen Gornick
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July 07, 2013, 05:46:31 AM
 #15

Again, please point to a communication directly from MtGox, Dwolla, or the US government that states the funds are seized.  All I've seen is the account is frozen, plus some journalistic embellishment.

While this is an old topic, the question hadn't been answered, so here it is:

Seizure Warrant
U.S. District Court of Maryland

 - http://cdn.arstechnica.net/wp-content/uploads/2013/05/Mt-Gox-Dwolla-Warrant-5-14-13.pdf


Coinseeker
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July 07, 2013, 06:02:48 AM
 #16

Again, please point to a communication directly from MtGox, Dwolla, or the US government that states the funds are seized.  All I've seen is the account is frozen, plus some journalistic embellishment.

While this is an old topic, the question hadn't been answered, so here it is:

Seizure Warrant
U.S. District Court of Maryland

 - http://cdn.arstechnica.net/wp-content/uploads/2013/05/Mt-Gox-Dwolla-Warrant-5-14-13.pdf



I'd say that pretty much sums it up.  These funds were seized.  Whether they will get them back, remains to be seen. 

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painlord2k
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July 07, 2013, 08:27:51 AM
 #17

Seized is not confiscated.

IIRC there is the need of a court trial to confiscate someone money.
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