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A simplistic view of what is going on
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Topic: A simplistic view of what is going on (Read 2609 times)
relm9
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Re: A simplistic view of what is going on
May 15, 2013, 10:09:04 PM
#21
Quote from: DeathAndTaxes on May 15, 2013, 09:56:12 PM
Quote from: Hawker on May 15, 2013, 07:18:26 PM
Quote from: RodeoX on May 15, 2013, 07:15:12 PM
I still don't understand why Gox smashed the deal with coinlab, knowing that without an MSB they are in violation of the law. No matter how bad the terms were for gox this can't be better.
Or did they think that FinCen was not serious?
I suspect a lawyer filled in the bank forms long before FinCen came out with their rules and then mtgox was blindsided.
FinCEN came out with their updated guidance over two months ago. I mean lets no pretend the rules cam out on Friday evening and by Monday morning they had a warrant. Two months is a long time to either a) stop doing business with US customers or b) register as a MSB.
Seems like Mt Gox was banking on the deal with Coinlab to go through so they didn't have to bother registering as an MSB. Stupid on their part.
pwi
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Re: A simplistic view of what is going on
May 16, 2013, 07:34:36 AM
#22
Quote from: Hawker on May 15, 2013, 07:14:09 PM
The impressive thing is how resilient the market is. Mtgox is down due to ddos. Its bank account in US has been frozen. Yet price has fallen about 5% only.
Yet gox is still well above others and Bitcoin is relatively stable despite gox buys and other exchange sell offs. Play accordingly.
Buy my PS3
https://bitcointalk.org/index.php?topic=216554.msg2282760#msg2282760
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