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Author Topic: So what is going on with Mt.Gox -> Dwolla.  (Read 5908 times)
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June 07, 2012, 07:08:40 PM

If you don't like the service that Mt Gox is giving you, take your business elsewhere. Personally, I've been trading at BitFloor lately. I can deposit USD via ING Direct Bank's P2P and withdraw USD via ACH to any checking account in the US. All for FREE! Plus most checking accounts have FDIC insurance, something that your USD balance in your Dwolla account doesn't have.

If I'm making an impression that I'm helplessly fighting  losing battle with MtGox, I'm not. All I'm trying to do is to be vocal about my concerns. It is one thing to have a problem, but much worse - to have a problem and not even speak of it.

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June 07, 2012, 07:13:12 PM

I definitely give props to Bitfloor. I have moved my automated platform(s) from MTGox to Bitfloor finding it fairly painless.  The rates are far better than MTGox, especially to liquidity providers (.1% rebate instead of charging you between .3% and .8% like MTGox, so you can actually MAKE money on trades instead of lose it, even on a break even trade).

If you're searching these lines for a point, you've probably missed it.  There was never anything there in the first place.
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June 07, 2012, 07:44:12 PM

"I really hope Bitfloor is successful."

Don't just hope. Put action behind that hope. Trade there. BitFloor will be successful if enough people trade there. Vote with your bitcoins. Put your orders there, be they large or small. I've tried a lot of different exchanges. You need to check how you're going to get USD or other fiat currencies in and out of the exchange. If, after looking at the exchange, you like what you see, send a small amount or USD or BTC there and do a trade. If all goes OK, send more and repeat. Before you know it a new exchange has grown from nothing to a reliable alternative with good service. Follow that advice for BitFloor and the whole Bitcoin community will be better off IMHO.

Thanks, Captain Obvious - I already trade there, hence my posts about my experience. I thought it would be obvious that by success I meant more business than just mine. 
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