So in summary, MtGox will hand out all its AML documents to some company on US soil. Basically they get a Bitcoin user list, including names, addresses, account ledgers, deposit and withdraw addresses. There will be a fight between several three letter agencies who gets this data first.
I think this time they will finally succeed in "closing" SilkRoad.
Topic: Official Gox / CoinLab Integration and Transition FAQ - page 10. (Read 20799 times)
I don't trust CoinLab's Bitcoin or Web Security
I'm glad to hear you say this. How about Coinbase? They both seem to originate with the same interests so I wonder if some of the security precepts are the same.
I suggest everyone get out of MtGox b4 the transition. You rather be safe and sorry.
All of these seems like an overnight thought.
All of these seems like an overnight thought.
Have you had any issues with the authorities or anyone from the government in the US? Does everything seem okay on that end?
who will have access to my already sent verification documents ?
who will have access to bitcoin and fiat deposits currently on gox ?
who will have access to bitcoin and fiat deposits currently on gox ?
Hi Bracek, what do you mean by 'access'? Do you mean read access? If so, then once we've transitioned, our chief compliance officer will have access to verification documents, or someone else on our AML/KYC team.
By 'access' to bitcoin and fiat deposits, do you mean current balances? We need a policy, we don't have one written up now, but I've flagged it in our launch TODO list. I would imagine a general policy is that most employees will be able to see deposit amounts but not identifying account information without customer permission.
I mean access in two ways, access to actually copy/paste my documents sent there in digital form,
and second concern about access is if some regulatory entity could get those in their hands, how hard will they have to "ask" for them.
access to bitcoins, means ability to send.
As I see it now, gox has the ability to send my coins, and I do.
anybody else gets to hold my private keys ?
Once you hand over your bitcoins its moot at that point because you dont control the private keys. If the US gov gets your bitcoins youre fucked. See gold confiscation.
who will have access to my already sent verification documents ?
who will have access to bitcoin and fiat deposits currently on gox ?
who will have access to bitcoin and fiat deposits currently on gox ?
Hi Bracek, what do you mean by 'access'? Do you mean read access? If so, then once we've transitioned, our chief compliance officer will have access to verification documents, or someone else on our AML/KYC team.
By 'access' to bitcoin and fiat deposits, do you mean current balances? We need a policy, we don't have one written up now, but I've flagged it in our launch TODO list. I would imagine a general policy is that most employees will be able to see deposit amounts but not identifying account information without customer permission.
I mean access in two ways, access to actually copy/paste my documents sent there in digital form,
and second concern about access is if some regulatory entity could get those in their hands, how hard will they have to "ask" for them.
access to bitcoins, means ability to send.
As I see it now, gox has the ability to send my coins, and I do.
anybody else gets to hold my private keys ?
Will the bot I used with MtGox be usable with coinlab (is the API going to change)?
Yep, see the top of the thread. The APIs will stay the same at launch. We will probably layer on FIX support for CoinLab customers.
The killer app for a Bitcoin exchange would be to give customers an account number they can use for ACH push transactions and direct deposit.
This would dramatically increase the risk of fraud. Banks spend billions of dollars on fraud prevention and detection and they still can't totally eliminate it but at least their deposits are insured. By comparison, Bitcoin exchanges are tiny and can only mitigate some risks by avoiding them altogether. Their deposits aren't insured and they don't have unlimited reserves to cover losses - as the Tradehill/Dwolla debacle showed.
Will the bot I used with MtGox be usable with coinlab (is the API going to change)?
How do you plan on getting high-net worth individuals to invest in bitcoin? Will you really go to Wall Street as the title of the recent article suggests? Once at Wall Street what will you do?
Use the bitcoins to create fractional reserve financial products. In the same way paper gold is traded.
I dont think its wise to give any of your information to coinlab or the bitcoin foundation to be honest.
How do you plan on getting high-net worth individuals to invest in bitcoin? Will you really go to Wall Street as the title of the recent article suggests? Once at Wall Street what will you do?
HNW Individuals already invest in Bitcoin, but only really nerdy ones. They need simple handholding account managers and safe storage. And also integration with their existing brokerage accounts. It's not anything fancy, it's just blocking and tackling to get them access in the systems they are used to.
The killer app for a Bitcoin exchange would be...
The killer app for a Bitcoin exchange would be to always show the correct "Last price" on their home page, a feature that I would like to see come to MtGox soon:
Will the Gox / CoinLab integration also include this "feature?"
It's funny you say that, the data feed issue is a big one, actually. All I can say is we're working hard on this with Gox, and I feel your need.
A programmer can fix this in 30 mins or less, it's not something one needs to work 'hard' to achieve. Only use USD for calculations, not other currencies.
Well, that part is done already at coinlab.com, enjoy. We don't try and convert other currencies to USD for quotes, though.
who will have access to my already sent verification documents ?
who will have access to bitcoin and fiat deposits currently on gox ?
who will have access to bitcoin and fiat deposits currently on gox ?
Hi Bracek, what do you mean by 'access'? Do you mean read access? If so, then once we've transitioned, our chief compliance officer will have access to verification documents, or someone else on our AML/KYC team.
By 'access' to bitcoin and fiat deposits, do you mean current balances? We need a policy, we don't have one written up now, but I've flagged it in our launch TODO list. I would imagine a general policy is that most employees will be able to see deposit amounts but not identifying account information without customer permission.
How do you plan on getting high-net worth individuals to invest in bitcoin? Will you really go to Wall Street as the title of the recent article suggests? Once at Wall Street what will you do?
[...]
Also, it's weird to see video of oneself, but the linked youtube video up there is me; I'm much, much more excited about Bitcoins, though
[...]
Also, it's weird to see video of oneself, but the linked youtube video up there is me; I'm much, much more excited about Bitcoins, though
[...]
kinda slapstick like how you play with the card 
<--- now
The video has officially been projected on the wall at the CoinLab offices. Sigh.
Most people who spoke up about the Bitcoin Foundation when it was in request for comment stage were fully in support of it and by extension, of it's goals of taking Bitcoin mainstream. So forward we march.
I do think the Bitcoin Foundation is a good idea, but the person being in charge there should do that as his full time occupation, not as a 5% occupation. Seeing Vess having some many balls in the air at the same time, how can he put in the hours that Bitcoin deserve in his role at the Bitcoin Foundation ?
Yes, the Foundation definitely needs full time executive leadership. Lindsay is great, but we need like five people there. I would love to get a full time director in there that's a good fit for the Bitcoin community. I have been thinking we'd talk more about it post-conference.
Most people who spoke up about the Bitcoin Foundation when it was in request for comment stage were fully in support of it and by extension, of it's goals of taking Bitcoin mainstream. So forward we march.
I do think the Bitcoin Foundation is a good idea, but the person being in charge there should do that as his full time occupation, not as a 5% occupation. Seeing Vess having some many balls in the air at the same time, how can he put in the hours that Bitcoin deserve in his role at the Bitcoin Foundation ?
[...]
Also, it's weird to see video of oneself, but the linked youtube video up there is me; I'm much, much more excited about Bitcoins, though
[...]
Also, it's weird to see video of oneself, but the linked youtube video up there is me; I'm much, much more excited about Bitcoins, though
[...]
kinda slapstick like how you play with the card <--- now
The killer app for a Bitcoin exchange would be...
The killer app for a Bitcoin exchange would be to always show the correct "Last price" on their home page, a feature that I would like to see come to MtGox soon:
Will the Gox / CoinLab integration also include this "feature?"
It's funny you say that, the data feed issue is a big one, actually. All I can say is we're working hard on this with Gox, and I feel your need.
A programmer can fix this in 30 mins or less, it's not something one needs to work 'hard' to achieve. Only use USD for calculations, not other currencies.
who will have access to my already sent verification documents ?
who will have access to bitcoin and fiat deposits currently on gox ?
who will have access to bitcoin and fiat deposits currently on gox ?
Jump to: