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Author Topic: So DHS is meddling with exchanges and people are SELLING into USD?!?  (Read 4163 times)
jag2k2
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May 14, 2013, 09:50:06 PM
 #1

If you want to panic then get your money INTO bitcoin and transfer your money out of the exchange.


I believe that banking institutions are more dangerous to our liberties than standing armies... The issuing power should be taken from the banks and restored to the people, to whom it properly belongs. - Thomas Jefferson
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mgio
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May 14, 2013, 09:55:59 PM
 #2

The US government can kill bitcoin more easily than bitcoin can kill the US dollar right now.

At the end of the day, if you live in the US, you will have to pay your taxes in US dollars. That will always be true.
bozak
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May 14, 2013, 09:56:59 PM
 #3

Easier said than done.  Unless you have the maximum level of Mt.Gox verfication, you can only send 100 BTC out per day.  For larger accounts, there is no choice but to have either $ or BTC sitting in Mt.Gox.  
ineededausername
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May 14, 2013, 09:59:17 PM
 #4

Easier said than done.  Unless you have the maximum level of Mt.Gox verfication, you can only send 100 BTC out per day.  For larger accounts, there is no choice but to have either $ or BTC sitting in Mt.Gox.  

actually nope, you only need the Verified (not Trusted level) to have 1k BTC out per day.

(BFL)^2 < 0
bozak
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May 14, 2013, 10:08:14 PM
 #5

The 1K refers to $1,000 USD.  It is only 100 BTC per day. 
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May 14, 2013, 10:12:41 PM
 #6

The 1K refers to $1,000 USD.  It is only 100 BTC per day. 

That's only for unverified accounts.

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bozak
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May 14, 2013, 10:17:06 PM
 #7

The 1K refers to $1,000 USD.  It is only 100 BTC per day. 

That's only for unverified accounts.

Is there a way to change the limit in the security settings section?  I have a verified account and when I go to the withdraw tab it says I have a limit of 100 BTC per 24 hours. 
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May 14, 2013, 10:20:42 PM
 #8

The 1K refers to $1,000 USD.  It is only 100 BTC per day. 

That's only for unverified accounts.

Is there a way to change the limit in the security settings section?  I have a verified account and when I go to the withdraw tab it says I have a limit of 100 BTC per 24 hours. 


You have to email or use their live chat, they'll up it.
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May 14, 2013, 10:23:50 PM
 #9

 Your account currently has a "Verified" status; you can update your account to a "Trusted" status.

    BTC : You can still withdraw up to 100.00000000 BTC provided you have enough on your account (your limit is 100.00000000 BTC per 24 hours )
    USD : You can still withdraw up to $1,000.00000 provided you have enough on your account (your limit is $1,000.00000 per 24 hours and $10,000.00000 per 30 days)

“Trusted” Accounts are eligible for the below withdrawal limits:

Traditional Currencies
Daily withdrawal limit (24hrs): 100,000 USD (or equivalent)
Monthly withdrawal limit: 500,000 USD (or equivalent)

Bitcoin
Daily Bitcoin withdrawal limit (24hrs): 10,000 BTC
Monthly Bitcoin withdrawal limit: none

In order to apply for the “Trusted” account status, you need to get a notarized copy sealed with an apostille for the following documents:

    A copy of your (valid) government issued photo ID (passport, permanent residence card or driver’s license) and
    A copy of either your monthly utility bill (power, phone, TV, gas, water, etc.) or a certificate of residency issued by your local government.

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May 14, 2013, 10:29:51 PM
 #10

Easier said than done.  Unless you have the maximum level of Mt.Gox verfication, you can only send 100 BTC out per day.  For larger accounts, there is no choice but to have either $ or BTC sitting in Mt.Gox.  

Or plan ahead and don't keep more than you withdraw on the exchange.  I removed all my bitcoins from every exchange a while ago, and I'm happy I did.  I'm fortunate to be in a position capable of weathering any reasonable (for bitcoin) price volatility (to the downside, more specifically) and given that bitcoin is getting a lot of attention lately, and lots of laws are untested and/or undefined, I don't want to have any BTC or USD sitting somewhere where I don't have exclusive control. 
BTC Books
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May 14, 2013, 10:38:57 PM
 #11

Easier said than done.  Unless you have the maximum level of Mt.Gox verfication, you can only send 100 BTC out per day.  For larger accounts, there is no choice but to have either $ or BTC sitting in Mt.Gox.  

Or plan ahead and don't keep more than you withdraw on the exchange.  I removed all my bitcoins from every exchange a while ago, and I'm happy I did.  I'm fortunate to be in a position capable of weathering any reasonable (for bitcoin) price volatility (to the downside, more specifically) and given that bitcoin is getting a lot of attention lately, and lots of laws are untested and/or undefined, I don't want to have any BTC or USD sitting somewhere where I don't have exclusive control. 

Yup.

All the BTC I keep out on the 'net these days is a few dozen on Coinbase, to sell during ridiculous price spikes.

Dankedan: price seems low, time to sell I think...
bozak
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May 14, 2013, 11:04:44 PM
 #12


You have to email or use their live chat, they'll up it.

Thanks, I didn't realize that.  However, I can't find a live chat option.  How do I get to live chat? 
uhoh
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May 14, 2013, 11:06:48 PM
 #13




You have to email or use their live chat, they'll up it.


Thanks, I didn't realize that.  However, I can't find a live chat option.  How do I get to live chat?  

There's a speech bubble icon next to the facebook link at the top of most pages. Their live chat is pretty temperamental though, I've only got through a couple of times. Remember it's only 8am there atm.
chadqberry
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May 14, 2013, 11:59:37 PM
 #14

It took one email to support and 24 hours to have my limit raised from $1K a day and 100btc to $10,000 per day (or $50K per month) and 1000 btc per day.
That is, once my account was verified.
Of course, I'm paying my taxes and doing nothing illegal so getting verified was no concern for me.

15vKCFT2Xnot3RxWhEcyed91FZcf23CyTT
joesmoe2012
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May 15, 2013, 12:05:04 AM
 #15

It took one email to support and 24 hours to have my limit raised from $1K a day and 100btc to $10,000 per day (or $50K per month) and 1000 btc per day.
That is, once my account was verified.
Of course, I'm paying my taxes and doing nothing illegal so getting verified was no concern for me.

mtgox doesn't check to make sure your paying your taxes, just to see that you are who you say you are.

ManaUser
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May 15, 2013, 12:20:35 AM
 #16

This is certainly alarming news, but so far I'm hopeful that it's only related to some specific money laundering case, or whatever. It would be very typical of the feds to do something like that without caring how many honest people they inconvenience.
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May 15, 2013, 01:20:00 AM
 #17

It doesn't matter what is going on, Investors don't like uncertainty.

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charleshoskinson
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May 15, 2013, 03:49:00 AM
 #18

Does anyone have any clear information regarding Dwolla?

The revolution begins with the mind and ends with the heart. Knowledge for all, accessible to all and shared by all
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May 15, 2013, 05:43:56 AM
 #19

Some people are worried, want out, and now is their escape.
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May 15, 2013, 05:50:21 AM
 #20

Yeah but they are escaping into fiat currency they may not be able to withdraw!

I'd have thought that BTC would be going up on MTgox because everyone wants their fiat currency as far away as possible.

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