"Mt. Gox user accounts will have to be verified." (or use Bitcoin)

CurbsideProphet

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Quote from: relm9 on May 30, 2013, 04:54:16 PM

Quote from: CurbsideProphet on May 30, 2013, 04:47:16 PM

Quote from: Elwar on May 30, 2013, 02:05:41 PM

I thought the verification process has been standard for a long time.

I had to go through it last summer to pull some money out.

I've been verified for a while so I don't recall the exact amount but you were able to deposit and withdraw small sums without previously being verified. It appears now you will need to be verified to do any deposits or withdrawals.

Verification was mandatory to use the Dwolla deposit option for at least the past year, not sure about the other methods.

I know when I started using MtGox (via Dwolla) there was no verification process from either company but that was back in 2011. I do recall needing to be verified by both late 2012 or early 2013. This makes me wonder though, if everyone was verified by BOTH sides, why was the Dwolla account frozen? I understand they didn't have the licenses but they should be able to provide ample evidence that they did follow KYC and AML laws. Makes me wonder if the DHS will eventually release those funds.

Miz4r

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Quote from: Razick on May 31, 2013, 08:50:38 AM

My thought exactly, but it could hurt the price long term as less fiat moves into BTC.

Short term perhaps, hard to say with all the variables involved. Big players mostly decide the market and they had to be verified anyway. But long term so many things will have changed I'm pretty sure the role this plays in the price will be completely insignificant or irrelevant.

Razick

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My thought exactly, but it could hurt the price long term as less fiat moves into BTC.

DoomDumas

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Bitcoin

I got out of MtGox arround a year and a half ago, and I had to get verified to withdraw BTC.

Maybe I dont recall correctly, but I'm pretty sure because when I used MtGox, only BTC were used for deposit and withdraw.

When I decided to quit MtGox, I was shocked to have to send ID to withdraw my BTC.

I'll never resume trading with MtGox, send any funds or whatever..

passo

newbie

Activity: 46

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this sucks for me so bad. I made quite a bit of money on the last bubble so i have some cash on mtgox. Problem is that i live in a squat and i dont have any bills on my name fom the latest 6 months. Im traveling allot so i try to avoid bills.. So now i have to buy back and move to bitstamp or something like that.

andrewsg

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Overall this is good news - proper AML will keep regulators away, the alternative is a Liberty Reserve scenario.

dave111223

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The non-verified account limits were so low that it was basically pointless to be non-verified anyways.

Something like $1000 limit? With that limit wire transfer fees would eat like 4% of your withdrawal.

I got verified before putting any money in Mt Gox.

giantdragon

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Quote from: abednego on May 30, 2013, 05:03:49 PM

I really do not see the events of this month being bullish for Bitcoin unfortunately. Fundamentally...

Just look outside U.S. and you will be surprised Grin

ineededausername

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bitcoin hundred-aire

Quote from: abednego on May 30, 2013, 05:03:49 PM

I really do not see the events of this month being bullish for Bitcoin unfortunately. Fundamentally... if BTC cannot enter the economy then the price stagnates at best... decreases at worst.

I have been blogging about my technical analysis of Bitcoin but I have made a decision today to start cashing out through the remaining exchanges to limit my worst case risk.
http://www.adventcarraig.com/2013/05/30/bitcoin-concerns/

You have been cherrypicking the worst events to justify your bearish emotions.

On the positive side, millions of dollars of VC funds are flowing into the system, and a better, regulation-compliant exchange that WILL reduce friction between bitcoin-world and fiat-world while eliminating regulatory risk is bound to come out of it, among other great services. We are simply seeing a move into legitimacy.

Equilux

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Quote from: Elwar on May 30, 2013, 08:13:09 PM

Quote from: joesmoe2012 on May 30, 2013, 07:24:41 PM

(I had to drive a couple hours, wait in line, and pay for the apostille itself).

Jesus walked for many years before finding his first apostille.

Touche!

Elwar

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Viva Ut Vivas

Quote from: joesmoe2012 on May 30, 2013, 07:24:41 PM

(I had to drive a couple hours, wait in line, and pay for the apostille itself).

Jesus walked for many years before finding his first apostille.

joesmoe2012

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Ching-Chang;Ding-Dong

Quote from: mgio on May 30, 2013, 05:22:19 PM

Has anyone gone from a verified to a trusted account where you have to get an "apostille" (whatever that means)?

Is it hard? Did you have to go to your secretary of state or could you do it at a bank (in the US)?

The verified withdrawal limit of $10k per month and $1k per day is very low!

You have to get documents apostilled, in my state there's only two places in the state that do it (I had to drive a couple hours, wait in line, and pay for the apostille itself).

Then you have to send a bunch of documents to japan, wait some time for it all to be processed, etc...

So its not exactly hard...a bit time consuming and slightly costly - yeah.

crazy_rabbit

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RUM AND CARROTS: A PIRATE LIFE FOR ME

Quote from: mgio on May 30, 2013, 05:22:19 PM

Has anyone gone from a verified to a trusted account where you have to get an "apostille" (whatever that means)?

Is it hard? Did you have to go to your secretary of state or could you do it at a bank (in the US)?

The verified withdrawal limit of $10k per month and $1k per day is very low!

I can withdraw $10K per day and $50K per month. WAY more then I could ever imagine needing (I'm not a crypto-millionare) but I wouldn't be surprised if they capped this somewhere down the line. Seems like a lot to be able to withdraw.

Quote from: mgio on May 30, 2013, 05:47:24 PM

Quote from: ThatDGuy on May 30, 2013, 05:39:35 PM

Quote from: mgio on May 30, 2013, 05:22:19 PM

The verified withdrawal limit of $10k per month and $1k per day is very low!

"Verified Status (Level 1)

Maximum monthly withdrawal of 50,000 USD (or equivalent) capped to a maximum of 10,000 USD per 24 hrs and a 1,000 BTC withdrawal per 24 hrs without any monthly limit."

I would think Verified status covers the vast majority of BTC users right now adequately.

Is that correct???

Because when I log in and go to "Withdaw", I see "USD : You can still withdraw up to $1,000.00000 provided you have enough on your account (your limit is $1,000.00000 per 24 hours and $10,000.00000 per 30 days)"

and I have a verified account.

You have a lower level verified account. The next level up gives you 10K per day and 50K per month.

mgio

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Quote from: Phil21 on May 30, 2013, 05:53:45 PM

Quote from: mgio on May 30, 2013, 05:47:24 PM

Quote from: ThatDGuy on May 30, 2013, 05:39:35 PM

Quote from: mgio on May 30, 2013, 05:22:19 PM

The verified withdrawal limit of $10k per month and $1k per day is very low!

"Verified Status (Level 1)

Maximum monthly withdrawal of 50,000 USD (or equivalent) capped to a maximum of 10,000 USD per 24 hrs and a 1,000 BTC withdrawal per 24 hrs without any monthly limit."

I would think Verified status covers the vast majority of BTC users right now adequately.

Is that correct???

Because when I log in and go to "Withdaw", I see "USD : You can still withdraw up to $1,000.00000 provided you have enough on your account (your limit is $1,000.00000 per 24 hours and $10,000.00000 per 30 days)"

and I have a verified account.

You have to request it be raised (with a max of $5k/day and $50k/30d iirc)

ok great, I will do that. Still kind of low, but much better than it was before!

Phil21

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Quote from: mgio on May 30, 2013, 05:47:24 PM

Quote from: ThatDGuy on May 30, 2013, 05:39:35 PM

Quote from: mgio on May 30, 2013, 05:22:19 PM

The verified withdrawal limit of $10k per month and $1k per day is very low!

"Verified Status (Level 1)

Maximum monthly withdrawal of 50,000 USD (or equivalent) capped to a maximum of 10,000 USD per 24 hrs and a 1,000 BTC withdrawal per 24 hrs without any monthly limit."

I would think Verified status covers the vast majority of BTC users right now adequately.

Is that correct???

Because when I log in and go to "Withdaw", I see "USD : You can still withdraw up to $1,000.00000 provided you have enough on your account (your limit is $1,000.00000 per 24 hours and $10,000.00000 per 30 days)"

and I have a verified account.

You have to request it be raised (with a max of $5k/day and $50k/30d iirc)

mgio

hero member

Activity: 546

Merit: 500

Quote from: ThatDGuy on May 30, 2013, 05:39:35 PM

Quote from: mgio on May 30, 2013, 05:22:19 PM

The verified withdrawal limit of $10k per month and $1k per day is very low!

"Verified Status (Level 1)

Maximum monthly withdrawal of 50,000 USD (or equivalent) capped to a maximum of 10,000 USD per 24 hrs and a 1,000 BTC withdrawal per 24 hrs without any monthly limit."

I would think Verified status covers the vast majority of BTC users right now adequately.

Is that correct???

Because when I log in and go to "Withdaw", I see "USD : You can still withdraw up to $1,000.00000 provided you have enough on your account (your limit is $1,000.00000 per 24 hours and $10,000.00000 per 30 days)"

and I have a verified account.

ThatDGuy

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Activity: 728

Merit: 500

Quote from: mgio on May 30, 2013, 05:22:19 PM

The verified withdrawal limit of $10k per month and $1k per day is very low!

"Verified Status (Level 1)

Maximum monthly withdrawal of 50,000 USD (or equivalent) capped to a maximum of 10,000 USD per 24 hrs and a 1,000 BTC withdrawal per 24 hrs without any monthly limit."

I would think Verified status covers the vast majority of BTC users right now adequately.

mgio

hero member

Activity: 546

Merit: 500

Has anyone gone from a verified to a trusted account where you have to get an "apostille" (whatever that means)?

Is it hard? Did you have to go to your secretary of state or could you do it at a bank (in the US)?

The verified withdrawal limit of $10k per month and $1k per day is very low!

abednego

newbie

Activity: 58

Merit: 0

I really do not see the events of this month being bullish for Bitcoin unfortunately. Fundamentally... if BTC cannot enter the economy then the price stagnates at best... decreases at worst.

I have been blogging about my technical analysis of Bitcoin but I have made a decision today to start cashing out through the remaining exchanges to limit my worst case risk.
http://www.adventcarraig.com/2013/05/30/bitcoin-concerns/

ThatDGuy

hero member

Activity: 728

Merit: 500

Quote from: relm9 on May 30, 2013, 04:54:16 PM

Quote from: CurbsideProphet on May 30, 2013, 04:47:16 PM

Quote from: Elwar on May 30, 2013, 02:05:41 PM

I thought the verification process has been standard for a long time.

I had to go through it last summer to pull some money out.

I've been verified for a while so I don't recall the exact amount but you were able to deposit and withdraw small sums without previously being verified. It appears now you will need to be verified to do any deposits or withdrawals.

Verification was mandatory to use the Dwolla deposit option for at least the past year, not sure about the other methods.

I was able to use BitInstant to move money in before being verified prior to this.

Topic: "Mt. Gox user accounts will have to be verified." (or use Bitcoin) (Read 2326 times)