Topic: Bitcoin to Wall Street ? (Read 2210 times)
I've definitely withdrawn BTC from MtGox with no issue (or ID) on multiple occasions.
No, never really tried. I've put money in and traded constantly for two years without an ID though.
If it comes down to it, I'll just withdraw BTC and cash out in silver or gold with coinabul or similar service if MtGox requires an ID to withdraw in USD.
If it comes down to it, I'll just withdraw BTC and cash out in silver or gold with coinabul or similar service if MtGox requires an ID to withdraw in USD.
I was wondering the same thing, I joined MtGox pre-hack, so I'm pretty sure they dont have any of my identifying info (besides email). I think they started requiring passports or other ID for new and large accounts after the hack, so those people are fucked.
Some highlights from the link above:
So as a US customer of MT.Gox, I'm no longer going to be allowed to use mtgox directly?
I dont like this at all. I have used mtgox exclusively for 2 years, and I'm not interested in using some company I have never heard of, and don't have a relationship with (and that's ignoring my security and liquidity concerns).
Frankly, this is bullshit.
Quote
What, exactly is happening?
Right now Mt. Gox keeps US and Canadian customer funds in Japan and Europe, mostly. CoinLab is going to take over servicing those accounts, and move them to Silicon Valley Bank in the US.
When that happens, if your'e a Mt. Gox customer, you will be transitioned to CoinLab as your primary exchange relationship. We'll provide the liquidity for your US or Canadian-based business.
What if I don't want to be a CoinLab customer? Can I stay with Mt. Gox if I'm in the US or Canada?
We'll miss you, but you can always leave us. If you are in the US/Canada, you can't stick with Mt. Gox, though. Part of our agreement with Mt. Gox is super-strict about locale: Mt. Gox really wants to be 100% out of the US/Canada market.
Right now Mt. Gox keeps US and Canadian customer funds in Japan and Europe, mostly. CoinLab is going to take over servicing those accounts, and move them to Silicon Valley Bank in the US.
When that happens, if your'e a Mt. Gox customer, you will be transitioned to CoinLab as your primary exchange relationship. We'll provide the liquidity for your US or Canadian-based business.
What if I don't want to be a CoinLab customer? Can I stay with Mt. Gox if I'm in the US or Canada?
We'll miss you, but you can always leave us. If you are in the US/Canada, you can't stick with Mt. Gox, though. Part of our agreement with Mt. Gox is super-strict about locale: Mt. Gox really wants to be 100% out of the US/Canada market.
So as a US customer of MT.Gox, I'm no longer going to be allowed to use mtgox directly?
I dont like this at all. I have used mtgox exclusively for 2 years, and I'm not interested in using some company I have never heard of, and don't have a relationship with (and that's ignoring my security and liquidity concerns).
Frankly, this is bullshit.
Totally agree. Not only that, how do they determine i'm from US/Canada? Just by USD funds? Please dont tell me IP because plenty ppl oversea use VPN for proxy/privacy.
Ok, so MtGox has proven itself to be fairly secure with our funds since June 2011.
And now a company is buying the US accounts to help secure them and this is supposed to be an advance?
And now a company is buying the US accounts to help secure them and this is supposed to be an advance?
You do not have to use Wall Street. You can buy directly on MtGox or .... Wall Street is for ordinary people what do not know how to secure their wallet, do not know how to buy coins. ... They will use professionals for investing their money. (to buy BTC and hold them safe)
Looks that way.
Some highlights from the link above:
So as a US customer of MT.Gox, I'm no longer going to be allowed to use mtgox directly?
I dont like this at all. I have used mtgox exclusively for 2 years, and I'm not interested in using some company I have never heard of, and don't have a relationship with (and that's ignoring my security and liquidity concerns).
Frankly, this is bullshit.
Quote
What, exactly is happening?
Right now Mt. Gox keeps US and Canadian customer funds in Japan and Europe, mostly. CoinLab is going to take over servicing those accounts, and move them to Silicon Valley Bank in the US.
When that happens, if your'e a Mt. Gox customer, you will be transitioned to CoinLab as your primary exchange relationship. We'll provide the liquidity for your US or Canadian-based business.
What if I don't want to be a CoinLab customer? Can I stay with Mt. Gox if I'm in the US or Canada?
We'll miss you, but you can always leave us. If you are in the US/Canada, you can't stick with Mt. Gox, though. Part of our agreement with Mt. Gox is super-strict about locale: Mt. Gox really wants to be 100% out of the US/Canada market.
Right now Mt. Gox keeps US and Canadian customer funds in Japan and Europe, mostly. CoinLab is going to take over servicing those accounts, and move them to Silicon Valley Bank in the US.
When that happens, if your'e a Mt. Gox customer, you will be transitioned to CoinLab as your primary exchange relationship. We'll provide the liquidity for your US or Canadian-based business.
What if I don't want to be a CoinLab customer? Can I stay with Mt. Gox if I'm in the US or Canada?
We'll miss you, but you can always leave us. If you are in the US/Canada, you can't stick with Mt. Gox, though. Part of our agreement with Mt. Gox is super-strict about locale: Mt. Gox really wants to be 100% out of the US/Canada market.
So as a US customer of MT.Gox, I'm no longer going to be allowed to use mtgox directly?
I dont like this at all. I have used mtgox exclusively for 2 years, and I'm not interested in using some company I have never heard of, and don't have a relationship with (and that's ignoring my security and liquidity concerns).
Frankly, this is bullshit.
so mtgox is shifting the risk on coinlab ??
Some highlights from the link above:
So as a US customer of MT.Gox, I'm no longer going to be allowed to use mtgox directly?
I dont like this at all. I have used mtgox exclusively for 2 years, and I'm not interested in using some company I have never heard of, and don't have a relationship with (and that's ignoring my security and liquidity concerns).
Frankly, this is bullshit.
Quote
What, exactly is happening?
Right now Mt. Gox keeps US and Canadian customer funds in Japan and Europe, mostly. CoinLab is going to take over servicing those accounts, and move them to Silicon Valley Bank in the US.
When that happens, if your'e a Mt. Gox customer, you will be transitioned to CoinLab as your primary exchange relationship. We'll provide the liquidity for your US or Canadian-based business.
What if I don't want to be a CoinLab customer? Can I stay with Mt. Gox if I'm in the US or Canada?
We'll miss you, but you can always leave us. If you are in the US/Canada, you can't stick with Mt. Gox, though. Part of our agreement with Mt. Gox is super-strict about locale: Mt. Gox really wants to be 100% out of the US/Canada market.
Right now Mt. Gox keeps US and Canadian customer funds in Japan and Europe, mostly. CoinLab is going to take over servicing those accounts, and move them to Silicon Valley Bank in the US.
When that happens, if your'e a Mt. Gox customer, you will be transitioned to CoinLab as your primary exchange relationship. We'll provide the liquidity for your US or Canadian-based business.
What if I don't want to be a CoinLab customer? Can I stay with Mt. Gox if I'm in the US or Canada?
We'll miss you, but you can always leave us. If you are in the US/Canada, you can't stick with Mt. Gox, though. Part of our agreement with Mt. Gox is super-strict about locale: Mt. Gox really wants to be 100% out of the US/Canada market.
So as a US customer of MT.Gox, I'm no longer going to be allowed to use mtgox directly?
I dont like this at all. I have used mtgox exclusively for 2 years, and I'm not interested in using some company I have never heard of, and don't have a relationship with (and that's ignoring my security and liquidity concerns).
Frankly, this is bullshit.
One would of thought that the advantage to using mtgox was precisely that it was not based in the USA and hence could not easily be subject to 3am arbitrary laws; I see nothing to gain from this deal other than reduced wire fees, which can be mitigated with other avenues.
Coinlab is just a flailing failure.
They raised venture capital to do the gpu thing then got smashed by news of asic development.
They raised venture capital to do the gpu thing then got smashed by news of asic development.
source? I have been following them for quite some time and never heard of them being involved with anything related to mining...
http://coinlab.com/
The original goal was to use idle gpu power of players to mine.
I don't really see a problem of a company trying to change direction once their original business model was outdated. What, do people prefer they just go ahead and stick with the idea that won't work anymore? I think that's a bit silly if someone decides to use that as a criticism.
I don't know anyone at coinlab nor have anything to do with them, but I think it's in BTCs best interest that these "major" startups are more successful than not.
Coinlab is just a flailing failure.
They raised venture capital to do the gpu thing then got smashed by news of asic development.
They raised venture capital to do the gpu thing then got smashed by news of asic development.
source? I have been following them for quite some time and never heard of them being involved with anything related to mining...
Ok, so MtGox has proven itself to be fairly secure with our funds since June 2011.
And now a company is buying the US accounts to help secure them and this is supposed to be an advance?
And now a company is buying the US accounts to help secure them and this is supposed to be an advance?
Coinlab is just a flailing failure.
They raised venture capital to do the gpu thing then got smashed by news of asic development.
All of a sudden those VC's get scared and send their MBA type suit monkeys to hold some meetings and drill the word "pivot" into the team.
They have switched around what the company actually does a handful of times now and still have not really done anything.
No trust.
I won't be using them. Gox just lost my business.
this move also look strange to me because i did knew that coinlab was for mining and stuff like that They raised venture capital to do the gpu thing then got smashed by news of asic development.
All of a sudden those VC's get scared and send their MBA type suit monkeys to hold some meetings and drill the word "pivot" into the team.
They have switched around what the company actually does a handful of times now and still have not really done anything.
No trust.
I won't be using them. Gox just lost my business.
IF this news is accurate (and not just a baseless rumor), I think the major effect it is going to have is increasing volatility...which is good for the speculators (like me), but probably doesn't bode well for the BTC economy as a whole (which IMO would be better served by slow growth or a steady price). If wall street gets involved, BTC will likely be traded like a penny stock resulting in more frequent booms and busts.
Really, I see this development as being bad for those with a "buy and hold" mentality...a higher number of speculators in the market means that the only ones who will profit are those who jump in and out of the market.
Really, I see this development as being bad for those with a "buy and hold" mentality...a higher number of speculators in the market means that the only ones who will profit are those who jump in and out of the market.
one thing is for sure, people are thinking about these things and want to see bitcoin as a regulated commodity. and a large part of this community disagrees with this philosophy. ( it sometimes feels like 'they' are trying to do this to push adoption... its no longer about making sound money, its about making money period. ) so I think a hard-fork or something similar is coming, and it will have very little to do with block size limit.
Sigh. Oh no, people are using bitcoins in was they want and not they way I want to whaaaaaaaaaaa whaaaaa. You know what would happen if a fork occurred and whatever the forkees had becomes at all successful? The same damn thing.
And you know damn well that you can try to regulate a bitcoin site, but you can't regulate bitcoin.
Adam, your posts have gone from amusingly inaccurate to flat-out loony bin FUD spreading.
Heh, well, it IS that time of the month
one thing is for sure, people are thinking about these things and want to see bitcoin as a regulated commodity. and a large part of this community disagrees with this philosophy. ( it sometimes feels like 'they' are trying to do this to push adoption... its no longer about making sound money, its about making money period. ) so I think a hard-fork or something similar is coming, and it will have very little to do with block size limit.
Sigh. Oh no, people are using bitcoins in was they want and not they way I want to whaaaaaaaaaaa whaaaaa. You know what would happen if a fork occurred and whatever the forkees had becomes at all successful? The same damn thing.
And you know damn well that you can try to regulate a bitcoin site, but you can't regulate bitcoin.
Adam, your posts have gone from amusingly inaccurate to flat-out loony bin FUD spreading.
this isn't news, this is rumor...
I see what you mean. No official report from mtGox, nothing on the coinLab website (and I wouldn't particularly trust my funds with a mining pool service). When I first read it, I kept thinking coinBase instead, since they are already known to store coins offline in a bank vault, and they already have a ton of US customers.
right,
one thing is for sure, people are thinking about these things and want to see bitcoin as a regulated commodity. and a large part of this community disagrees with this philosophy. ( it sometimes feels like 'they' are trying to do this to push adoption... its no longer about making sound money, its about making money period. ) so I think a hard-fork or something similar is coming, and it will have very little to do with block size limit.
Interesting piece of news, and I'm eager to get more info from both parties.
One could say it's the beginning of the end for bitcoin, with US being able to control the biggest part of the biggest exchange. Same thing for the part about the Loyds and forex brokers, could also be a way to open bitcoin to all sort of manipulation.
Don't get me wrong, I'm just playing devils advocate here. I'm uber excited about this news, I think what we saw in the last month is just the beginning.
I'm crazy impatient to see what is going to happen...
One could say it's the beginning of the end for bitcoin, with US being able to control the biggest part of the biggest exchange. Same thing for the part about the Loyds and forex brokers, could also be a way to open bitcoin to all sort of manipulation.
Don't get me wrong, I'm just playing devils advocate here. I'm uber excited about this news, I think what we saw in the last month is just the beginning.
I'm crazy impatient to see what is going to happen...
I just wonder what's in it for MtGox?
Money first of all, coinLab is paying them for this. Also less risk/responsibility for mtgox, since coinLab will be managing the USD funds. An official partnership also enhances the professionalism of MtGox. The best part is even as this further cements their role as the biggest exchange, it does so in a way which distributes the risk. I'm not so worried now about a possible problem or crisis at mtgox, because even if the exchange goes down, my funds should be safe with coinLab.
So Coinlab will just assume every USD funds acct are from US/Canada? Thats stupid.
They must have known many ppl oversea also use USD funds.
Quote
Jay Walker, a forex prop trader, said he’d jump to any forex broker deal that would allow him to do currency pair trades and get paid out in bitcoins.
Right, but a simple google query is over his head?
this isn't news, this is rumor...
I see what you mean. No official report from mtGox, nothing on the coinLab website (and I wouldn't particularly trust my funds with a mining pool service). When I first read it, I kept thinking coinBase instead, since they are already known to store coins offline in a bank vault, and they already have a ton of US customers.
this isn't news, this is rumor...
I just wonder what's in it for MtGox?
Money first of all, coinLab is paying them for this. Also less risk/responsibility for mtgox, since coinLab will be managing the USD funds. An official partnership also enhances the professionalism of MtGox. The best part is even as this further cements their role as the biggest exchange, it does so in a way which distributes the risk. I'm not so worried now about a possible problem or crisis at mtgox, because even if the exchange goes down, my funds should be safe with coinLab.
Give them a little time to concoct another plausible improbability. +1 to Loaded I guess (if at all related
).she can put those paddles on me any day.
oh wait, i'm not a bear.
...also if your heart is beating at the time it wouldn't be beating afterward.
lolz at this "news"
Can you elaborate?
Give them a little time to concoct another plausible improbability. +1 to Loaded I guess (if at all related
).she can put those paddles on me any day.
oh wait, i'm not a bear.
I just wonder what's in it for MtGox?
Yes, lets move all the payment processing to the USA - and especially to the nearly-broke state of California. I'm really surprised and not really pleased about this. Have they considered the legal implications if legislators decided to come for a piece of the action? Or to disrupt their operations?
If anyone has a good answer as to why the positives outweigh the negatives, I'm all ears.
If anyone has a good answer as to why the positives outweigh the negatives, I'm all ears.
Positives: Lower bar of entry for new people to acquire bitcoin, thus increasing it's acceptance and useability.
Cons: Uh, if it gets closed there are plenty of other exchanges and bitcoin is still bitcoin. This is obvious unless you're one of those people that say bitcoin itself was hacked in 2011.
Yes, lets move all the payment processing to the USA - and especially to the nearly-broke state of California. I'm really surprised and not really pleased about this. Have they considered the legal implications if legislators decided to come for a piece of the action? Or to disrupt their operations?
If anyone has a good answer as to why the positives outweigh the negatives, I'm all ears.
If anyone has a good answer as to why the positives outweigh the negatives, I'm all ears.
lolz at this "news"
Oh, dang. This must be the new bear tactic. "Uh oh, we can't call lower prices any more! Just try to blow off everything as unimportant! That'll do the trick!"
lolz at this "news"
Oh, dang. This must be the new bear tactic. "Uh oh, we can't call lower prices any more! Just try to blow off everything as unimportant! That'll do the trick!"
http://2.bp.blogspot.com/_jp-Y_pSujQA/TCWxcqMAHrI/AAAAAAAAvLE/gI2s-yTbB_M/s1600/naughty+bear+nurses.jpg
Give them a little time to concoct another plausible improbability. +1 to Loaded I guess (if at all related ).
Give them a little time to concoct another plausible improbability. +1 to Loaded I guess (if at all related
).
lolz at this "news"
That sounds like great news.
That's because it is great news! If anything, it'll hopefully be one less barrier of entry for people to buy bitcoins.
Now, to save everyone some time, I present with you Desperate Bear Logic: This will cause the markets to crash for some raisin. Because more demand = lower prices, right?
That sounds like great news.
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