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Author Topic: My observations and Mt.Gox. Beware of those, who hold payouts  (Read 1005 times)
bagazaga
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June 01, 2012, 07:01:07 AM
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I've seen work of several online payment systems and had money on accounts of two of them when they gone. Before they gone: they made holds on higher volume outgoing payments(it's obvious, that they didn't have enough money to make transfers instantly, so they queued payouts). And that's what Mt.Gox is doing right now with wire transfer payouts(most of higher volume payments are paid using wire transfers). And I've heard from people familiar with owners of one of those payment systems, that they "invested" clients money(it's not really hard to beleive in, since almost everyone does that. Not everyone is skilled enough to measure risks correclty). Or they can just do something stupid, like Pavel Vrublevsky did with Fethard. And it's very likely, that Mt.Gox doing something similar, since higher volume payouts are not processed instantly. Be careful with Mt.Gox and everyone else, who delay payments.
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June 01, 2012, 06:54:22 PM
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I am getting very suspicious as well. Dwolla is being blamed, but I don't know... Dwolla sure seems to have stirred the conrtovercy with their new TOS, but it seems to be passing the buck at the same rate as before.

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June 06, 2012, 12:09:40 AM
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Before they gone: they made holds on higher volume outgoing payments(it's obvious, that they didn't have enough money to make transfers instantly, so they queued payouts).

I agree.  I have a slightly more detailed theory on exactly what's happening here, specifically regarding MtGox Dwolla transfers.  But it's in the same general vein as what you suggest.

The printing press heralded the end of the Dark Ages and made the Enlightenment possible, but it took another three centuries before any country managed to put freedom of the press beyond the reach of legislators.  So it may take a while before cryptocurrencies are free of the AML-NSA-KYC surveillance plague.
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