MtGox supports Dwolla

[Mike Moceri]

Mine just went through (finally)! I still plan on switching over to tradehill though. Their interface is superior, and it costs me less to make transactions. All other things being equal, tradehill is still superior.

[1715548586]

1715548586

[Veldy]

Rumors of money hitting Dwolla.  Anybody confirm?

I signed up for TradeHill as well, although I haven't used it yet

[demonofelru]

I got emails that I received 2 of my withdrawals in Dwolla but the money isn't showing up in my balance.  Not sure if this is a Dwolla problem or mtgox?

[eodchop]

Mine just went through (finally)! I still plan on switching over to tradehill though. Their interface is superior, and it costs me less to make transactions. All other things being equal, tradehill is still superior.

I have only received on of two from Mt. Gox. I still have 600 dollars unaccounted for. Tradehill, I am on my way.

[demonofelru]

Mine just went through (finally)! I still plan on switching over to tradehill though. Their interface is superior, and it costs me less to make transactions. All other things being equal, tradehill is still superior.

I have only received on of two from Mt. Gox. I still have 600 dollars unaccounted for. Tradehill, I am on my way.

Is it showing in your balance when you log into Dwolla?  I have received the email and it even shows in my transactions but doesn't show in my balance in Dwolla?

[eodchop]

Yea, it is showing up. Just not what i was expecting. 1/40th of what they owe me.

[demonofelru]

Damn I have to contact Dwolla then hopefully they didn't freeze my account or something?

[demonofelru]

Never mind I figured it out lol.  I set up automatic withdraw and that's why it didn't show up in balance it was doing what it was supposed to and automatically withdrawing it.

[twobitcoins]

One of my withdrawals went through just now (and appears in my Dwolla balance).  Still waiting on the others.

[sal002]

My withdrawal worked too!  So there is some movement! 

[frankiebits]

DWOLLA IS DOWN... NOOOOO , anyone else experiencing this?

[MSJHWT]

Horray, thanks for getting Dwolla back up MtGox guys! =)

[demonofelru]

DWOLLA IS DOWN... NOOOOO , anyone else experiencing this?

It's up for me?

[Cusipzzz]

very glad to hear for you guys.. mine didn't get thru (send another email per the reddit).

[borito4]

Got all my moneyz

[_s3v3n_]

MT Gox -> Dwolla is back !

Received all my transfers today. I'm so happy. I will be staying at Mt. Gox. I noticed the selling rate is a bit lower in Tradehill (2$ difference the past two days).

[Veldy]

MT Gox -> Dwolla is back !

Received all my transfers today. I'm so happy. I will be staying at Mt. Gox. I noticed the selling rate is a bit lower in Tradehill (2$ difference the past two days).

I am very curious what the future holds. I suspect there will be yet another exchange relatively soon as well.  This incident with Mtgox can't help them (especially with dreadful communication options), but they have a long history of good service for the most part.  It will be interesting over the next couple of weeks or so.

Difficulty is continuing to rise due to those constantly bringing new hardware online.  It is inflating the price of the bitcoin, but eventually the price is going to correct and the exchanges are going to be very busy during the sell off.  If Mtgox hasn't corrected it's issues with performance and issue resolution (including communication beyond just sending an email), then they will collapse in my opinion.  I do NOT want that to happen, I want them to rise to the occasion.

[_s3v3n_]

MT Gox -> Dwolla is back !

Received all my transfers today. I'm so happy. I will be staying at Mt. Gox. I noticed the selling rate is a bit lower in Tradehill (2$ difference the past two days).

I am very curious what the future holds. I suspect there will be yet another exchange relatively soon as well.  This incident with Mtgox can't help them (especially with dreadful communication options), but they have a long history of good service for the most part.  It will be interesting over the next couple of weeks or so.

Difficulty is continuing to rise due to those constantly bringing new hardware online.  It is inflating the price of the bitcoin, but eventually the price is going to correct and the exchanges are going to be very busy during the sell off.  If Mtgox hasn't corrected it's issues with performance and issue resolution (including communication beyond just sending an email), then they will collapse in my opinion.  I do NOT want that to happen, I want them to rise to the occasion.

You have a very good point there. But I'm not really that worried about the new miners since there isn't enough individuals out there, that first, have a high end GPU/s to manage to pull a lot of bitcoin points, not to mention the time and investment that they have to put in order to establish a miner. Second, how long they'll be able to tolerate the heat these GPUs are producing and the power consumption it's pulling (well of course there is a big turnaround in terms of monetary once bitcoin is produced).

I would say it's somewhat better if the difficulty rises a bit, I know, i know that it's not good for us miners. But this will definitely frustrates those individuals I so-called small miners.

The only thing that I'm worried is the rise of the exchange rate. I was looking at it last Wednesday and in a matter of I think 3 days, it went up from 8$ to 30$ selling rate. It's good yes, it's good (hell it's great!!) But we all know the outcome of that will not gonna be good.

[Veldy]

The problem with all this hardware coming online is that it makes good money during the difficulty period it was introduced and then the network corrects such that it is as if the the amount of hardware never changed [meaning it makes it more difficult].  So, it makes the smaller miners even smaller.  Meanwhile, the large miners are collecting bitcoins [especially they early adopters when they figured out GPU mining and went crazy!] and in many cases just sitting on them; maybe selling off small lots to keep up with difficulty.  This concentrates the mining into the hands of a relative few over time since everybody mining now cannot afford to keep up as it stands today.  With the coin hoarding, the bitcoin supply is low [one could say artificially low].  Once the relatively few are essentially the only miners of significance, then relative among themselves some are going to decide to start dumping their hoards [assuming they have them ... some are mining on pure credit].  When that happens there will be a large supply of coins.  The question is, will the then former small miners have just gotten out of bitcoin altogether or will they turn to trading bitcoins?  If they get out [which I expect MANY will do if this hardware growth continues], their will be a supply far exceeding the demand.  I think an indicator might be continued large difficulty increases corresponding with first spiking and then dropping volumes with fairly level pricing .... then, the big purses get anxious to be emptied. 

I am not financial analyst, although I do know enough to be dangerous and bitcoin is nothing if not dangerous as an investment tool anyway, but my instinct and my take on how people think [as I understand it], how I think and how my perception of such things has matched reality suggests, at least to me, that I am very likely correct.   The premise is that hardware keeps entering the mines, BTC/hr over time stays at 7.5/hr or more (25%+ above what it should be according to the  parameters of the bitcoin economy) and thus the concentration of mining power into the hands of the few.  Also note that as miners "give up" when they can't keep a profit worth the effort and expense invested, they will be selling entire rigs, and more importantly GPUs, mainboardss and PSUs in growing numbers on EBay and other sites thus giving good prices to the growing super minority miners. 

In short ... look for that flat level of price for awhile [perhaps a few weeks] with a spike in volume followed by low volumes.  That is my amateur assessment.

[Veldy]

Looks as if there was pent up demand to sell today [at least via Dwolla] if the steady price drop MtGox/USD is any indicator.  Volume is pretty high still and price has steadily dropped since Mt. Gox restored their transactional ability with Dwolla.

Might be a buying opportunity coming up if you are into that [don't take my word for anything when it comes to market speculation].