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Topic: Dwolla can no longer process deposits or withdrawals to MtGox - page 8. (Read 13014 times)

hero member
Activity: 546
Merit: 500
Good news is that if you managed to sell on word of this news at 116+ like I did, you'll be able to buy back in some cheap coins soon.

If you haven't sold yet, sell now!

Bitcoins will be on sale, probably just temporarily though.
legendary
Activity: 3066
Merit: 1145
The revolution will be monetized!
Mutum Sigillum is the name of Mt Gox's Dwolla account.
Really? Then what is this?       http://www.mutumsigillum.com/
hero member
Activity: 924
Merit: 1000
Mutum Sigillum is the name of Mt Gox's Dwolla account.
full member
Activity: 123
Merit: 100
Just talked to a few people at Dwolla, just in case anyone was panicking like myself Smiley

It is fine to transfer funds out of the account to your bank - my biggest concern was that all this money transferred from Gox to Dwolla would somehow sit in limbo or be required to be sent back, or some crazy shit like that. That is not the case, as long as it's cleared and in your Dwolla balance, it's clear to be sent to the bank. They wouldn't give me any more details (sounds like they don't have a lot of details of why they had to suspend the accepting/sending to/from gox), but just in case anyone was wondering.
legendary
Activity: 1437
Merit: 1002
https://bitmynt.no
Only temporarily.  In the long run it'll be best.  If Gox doesn't implode now, they surely will later at an even worse moment.  This whole thing is most likely due to Gox's own incompetence and failure to act within their own self-interest and to get an effin' clue.
Yeah!  So, let's start listing more competent exchanges.  We can start the list with... Eh..?  You start!

This time it is some bureucrat in a remote fu**ed up country doing his job.  Protect the banks.
legendary
Activity: 3066
Merit: 1145
The revolution will be monetized!
The letter does not say what the title of this thread says.  

It says that they will not process payments to a particular user "Mutum Sigillum LLC". Do you know who that is? Can you verify that they are not sending money to the Talibahn?

So much overreaction.
full member
Activity: 238
Merit: 100
RMBTB.com: The secure BTC:CNY exchange. 0% fee!
Land of the free...
sr. member
Activity: 387
Merit: 250
Does Dwolla work for large amounts of money? I would think that international wires are the most important.
Depends on your definition of "large".  Maximum single transaction size is $5000 by default, but they say they can process up to $99MM transactions.  I'm sure MtGox has received millions through their Dwolla account over the past couple of years, but I really have no idea how much per month is going in or out.  

My guess is that DHS has claimed it's an AML issue because 'errorism.

Might be an AML issue. Thats what coinbase was supposed to have taken care of. ooopss!

Maybe MtGox couldn't legally follow through with the customer transfer because they knew about the DHS issue, but were prohibited from telling CoinbaseCoinlab?  Stranger things have happened in the American legal system.

Hmm, looks like some people are selling - did I break the news that caused a mini-selloff?  Bitcoin has survived all the SEPA withdrawal problems, and it will survive Dwolla cutoff, too.
hero member
Activity: 518
Merit: 500
This is such good news.  Hopefully Gox will implode now.
And with it, the value of your Bitcoins, since the stream of fiat money will be gone.

Careful what you wish for.

Only temporarily.  In the long run it'll be best.  If Gox doesn't implode now, they surely will later at an even worse moment.  This whole thing is most likely due to Gox's own incompetence and failure to act within their own self-interest and to get an effin' clue.
N12
donator
Activity: 1610
Merit: 1010
This is such good news.  Hopefully Gox will implode now.
And with it, the value of your Bitcoins, since the stream of fiat money will be gone.

Careful what you wish for.
hero member
Activity: 518
Merit: 500
This is such good news.  Hopefully Gox will implode now.
hero member
Activity: 520
Merit: 500
This happened to me as well (got the same message).

WHat are our options?

Coinbase for moving small amounts of USD out into US bank accounts?
hero member
Activity: 546
Merit: 500
How much does a bank transfer in and out of mt gox cost typically?

I've only ever used Dwolla.

What about OkPay? Is that a better option? How much does it cost?
legendary
Activity: 1204
Merit: 1001
RUM AND CARROTS: A PIRATE LIFE FOR ME
Does Dwolla work for large amounts of money? I would think that international wires are the most important.
Depends on your definition of "large".  Maximum single transaction size is $5000 by default, but they say they can process up to $99MM transactions.  I'm sure MtGox has received millions through their Dwolla account over the past couple of years, but I really have no idea how much per month is going in or out. 

My guess is that DHS has claimed it's an AML issue because 'errorism.

Might be an AML issue. Thats what coinbase was supposed to have taken care of. ooopss!
legendary
Activity: 1666
Merit: 1057
Marketing manager - GO MP
So two USA regulating bodies don't know weather bitcoin is a commodity or a currency but they simply want to regulate it, not ban, and another agency, Homeland Security, is trying to shut the whole thing down probably because someone one time mentioned it could fund terrorism.

Yeah it's the same mentality that is being 'concerned' with 3D printed guns. Bureaucrats gonna bureaucrat.
sr. member
Activity: 387
Merit: 250
Does Dwolla work for large amounts of money? I would think that international wires are the most important.
Depends on your definition of "large".  Maximum single transaction size is $5000 by default, but they say they can process up to $99MM transactions.  I'm sure MtGox has received millions through their Dwolla account over the past couple of years, but I really have no idea how much per month is going in or out. 

My guess is that DHS has claimed it's an AML issue because 'errorism.
legendary
Activity: 1204
Merit: 1001
RUM AND CARROTS: A PIRATE LIFE FOR ME
So two USA regulating bodies don't know weather bitcoin is a commodity or a currency but they simply want to regulate it, not ban, and another agency, Homeland Security, is trying to shut the whole thing down probably because someone one time mentioned it could fund terrorism.

Last I checked, Homeland Security kind of is in the habit of abusing it's position. But hey- who knows.
N12
donator
Activity: 1610
Merit: 1010
Wait, I'm confused....

People are still using Mt.Gox?
Right? How can you be so stupid and trade at the most liquid market while all the others are going down due to hacks and legal issues? Hahaha, those stupid people who need to trade large volumes, and dislike losing all of their money. Grin Grin Grin

Here is a paper for you: http://fc13.ifca.ai/proc/1-2.pdf
legendary
Activity: 1400
Merit: 1005
Wait, I'm confused....

People are still using Mt.Gox?
Who else are you going to use?  Everyone else has lax security or no US-customer options.
hero member
Activity: 518
Merit: 500
Everyone is complaining about how hard it is to get bitcoin, and I'm just sitting here acquiring bitcoin.
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