MTGOX: enable SEPA withdraw - page 2.

kronosvl

full member

Activity: 134

Merit: 100

Quote from: realnowhereman on January 20, 2012, 05:07:07 AM

Why not do something better though?

For example: in the UK when you sign someone else's passport application (and the back of their photo) you must supply your own passport number.

In other words, they're creating a web of trust (about 20 years late).

We're on the cutting edge with Bitcoins; why are we doing things the old fashioned way? And why trust notary signatures from some random lawyer you don't know half way around the world?

Here's a suggestion:

Supply a field in each Mt.Gox account for a PGP public key
Verify an account with a public key with whatever meat-space mechanism you like
Supply a field to allow upload of a photo of a signature
Verified user-A signs (physically) the notary document for unverified user B; takes a photo and signs that photo with their PGP key. User-B can upload this photo + digital signature at their leisure.
Mt.Gox can now compare the digitally-signed photo of User-A's pen-signature against the digitally-signed photo of the signature on User-B's proof-of-identity.
User-B uploads their public key, which user-A will have signed as well.

Bitcoin users usually know each other (it's a word-of-mouth technology); so there is huge scope for this sort of thing.

When the feds come knocking, you have a chain of signatures, both digital and real, that can lead you back to someone who was verified by sight of a passport, or whatever AML documents you want.

That is an excellent idea

Technomage

legendary

Activity: 2184

Merit: 1056

Affordable Physical Bitcoins - Denarium.com

Quote from: repentance on January 19, 2012, 11:18:09 PM

It's honestly about time they started doing this. It's pretty standard everywhere else that when you can't directly sight ID documents the copies must be notarised by someone authorised to do so.

It's not standard. I've never in my life had to submit 3rd party verified documents to anywhere and I've been a professional gambler for many years. This is in fact the first time I've heard of a site that has this requirement. I've used a large number of online payment processors and online casinos, ranging from small to very large. This is perhaps the standard at a Swiss bank but no, I can pretty much guarantee that it's not the standard in general.

I do admit that I've perhaps been a bit too harsh on Mt. Gox, it's likely that they are forced to do this. They do suffer the consequences regardless which will be a drastic drop in regular users. To me this is telling of a deeper issue, either Bitcoin is really used for illegal stuff a lot or the establishment is cracking down on Bitcoin harder than we realize. Or both.

Hopefully the smaller exchanges can avoid adding requirements like these.

realnowhereman

hero member

Activity: 504

Merit: 502

Why not do something better though?

For example: in the UK when you sign someone else's passport application (and the back of their photo) you must supply your own passport number.

In other words, they're creating a web of trust (about 20 years late).

We're on the cutting edge with Bitcoins; why are we doing things the old fashioned way? And why trust notary signatures from some random lawyer you don't know half way around the world?

Here's a suggestion:

Supply a field in each Mt.Gox account for a PGP public key
Verify an account with a public key with whatever meat-space mechanism you like
Supply a field to allow upload of a photo of a signature
Verified user-A signs (physically) the notary document for unverified user B; takes a photo and signs that photo with their PGP key. User-B can upload this photo + digital signature at their leisure.
Mt.Gox can now compare the digitally-signed photo of User-A's pen-signature against the digitally-signed photo of the signature on User-B's proof-of-identity.
User-B uploads their public key, which user-A will have signed as well.

Bitcoin users usually know each other (it's a word-of-mouth technology); so there is huge scope for this sort of thing.

When the feds come knocking, you have a chain of signatures, both digital and real, that can lead you back to someone who was verified by sight of a passport, or whatever AML documents you want.

Mt.Gox Support

vip

Activity: 308

Merit: 250

Quote from: repentance on January 19, 2012, 11:18:09 PM

Quote from: Technomage on January 19, 2012, 03:05:36 PM

Have you guys seen the new AML policy they have? I'm already verified but new verified applicants are required to send some type of 3rd party verified documents, it's totally ridiculous. I've been very patient with Mt. Gox but I think it's becoming more and more difficult for casual and honest users to do anything at Mt. Gox.

It might be that they can't really do much about it, they are the biggest exchange and thus under the biggest pressures legally. But regardless of the reason, we are forced to start using the smaller exchanges and services more. This is actually healthy for Bitcoin, we need more distribution.

It's honestly about time they started doing this. It's pretty standard everywhere else that when you can't directly sight ID documents the copies must be notarised by someone authorised to do so.

At some point it seems inevitable that they will need to verify the identities of all of their customers. The smaller exchanges might be able to go a bit longer without coming under the same pressure from their financial institutions, but people really need to understand that the exchanges can't remain in business if their accounts are always at risk of being frozen. If one of the main things they can do to minimise that risk is toughen up the verification requirements for their users, then they're going to do that - doing anything else would put both user funds and their own business at unacceptable risk.

Thank you for understanding the situation...

repentance

hero member

Activity: 868

Merit: 1000

Quote from: Technomage on January 19, 2012, 03:05:36 PM

Have you guys seen the new AML policy they have? I'm already verified but new verified applicants are required to send some type of 3rd party verified documents, it's totally ridiculous. I've been very patient with Mt. Gox but I think it's becoming more and more difficult for casual and honest users to do anything at Mt. Gox.

It might be that they can't really do much about it, they are the biggest exchange and thus under the biggest pressures legally. But regardless of the reason, we are forced to start using the smaller exchanges and services more. This is actually healthy for Bitcoin, we need more distribution.

It's honestly about time they started doing this. It's pretty standard everywhere else that when you can't directly sight ID documents the copies must be notarised by someone authorised to do so.

At some point it seems inevitable that they will need to verify the identities of all of their customers. The smaller exchanges might be able to go a bit longer without coming under the same pressure from their financial institutions, but people really need to understand that the exchanges can't remain in business if their accounts are always at risk of being frozen. If one of the main things they can do to minimise that risk is toughen up the verification requirements for their users, then they're going to do that - doing anything else would put both user funds and their own business at unacceptable risk.

AniceInovation

donator

Activity: 446

Merit: 262

Interesting.

If they want 3rd party documents they should just request them.
Anyway, there's no problem withdrawing the money trough International transfer, so for a hacker it's all the same.

MTGOX, i want my money without paying a ridiculous amount of taxes.
I want it now.

Technomage

legendary

Activity: 2184

Merit: 1056

Affordable Physical Bitcoins - Denarium.com

Have you guys seen the new AML policy they have? I'm already verified but new verified applicants are required to send some type of 3rd party verified documents, it's totally ridiculous. I've been very patient with Mt. Gox but I think it's becoming more and more difficult for casual and honest users to do anything at Mt. Gox.

It might be that they can't really do much about it, they are the biggest exchange and thus under the biggest pressures legally. But regardless of the reason, we are forced to start using the smaller exchanges and services more. This is actually healthy for Bitcoin, we need more distribution.

Coinbuck @ BTCLot

hero member

Activity: 540

Merit: 500

The future begins today

They kept delaying this so I had to switch to another exchange.

AniceInovation

donator

Activity: 446

Merit: 262

Interesting.

Hello.

When will you enable SEPA withdraw?
I do understand when you say the bank of france disabled your account, and that you can't pay, and that the only solution is to wait.
But now, SEPA option to add funds is working for some weeks (so you have an account), but you still haven't enabled the opposite.

When will you enable it?

Topic: MTGOX: enable SEPA withdraw - page 2. (Read 3751 times)