Official Gox / CoinLab Integration and Transition FAQ - page 5.

niko

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There is more to Bitcoin than bitcoins.

Quote from: kerogre256 on March 05, 2013, 10:25:05 AM

Trojan Horse. US government will close the business as soon as they will have all information they need.You have been warned

Dude. Please. The US government already has all the information they need, and some more. MtGox intermediate servers are in San Jose, California - even in this thread MT reminded us of that.

Even the "Canadian" exchange Cavirtex - and I've been their happy customer for a long time - is registered as a .com with at least some infrastructure physically in the U.S.

Quote

tech-c-firstname: Hostmaster
tech-c-lastname: ONEANDONE
tech-c-organization: 1&1 Internet Inc.
tech-c-street1: 701 Lee Rd.
tech-c-street2: Suite 300
tech-c-pcode: 19087
tech-c-state: PA
tech-c-city: Chesterbrook
tech-c-ccode: US

Now, you are aware of the provisions of the PATRIOT Act, right? What's all this bullshit about U.S. government "needing all the information" Huh

They have all the information, and they've had it for a long time. And Bitcoin is doing just fine. So quit bullshitting about the government, and let's focus on real and practical issues here.

Severian

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Quote from: marcus_of_augustus on March 06, 2013, 08:04:20 PM

I really wonder who thought it would be a good idea to move such a large part of the Bitcoin business to the country with the most overt, aggressive financial industry regulatory-capture regime?

People make really bad decisions when based on really bad precepts. The more traditional mercantile elements of Bitcoin are either unseeing or uncaring of the predatory nature of the regime. They do see the dollar signs though, which can be overpowering to even the most conscientious of businessmen.

Personally, I hope this move destroys Goxilla. Actual decentralization of Bitcoin won't happen until this last vestige of centralized pricing is gone.

ArticMine

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Monero Core Team

There is a critical difference between Canada and the United States here. Take GoldMoney for example and where they store gold on behalf of their customers. http://www.goldmoney.com/faq/where-are-metals-stored.html Canada is listed as a gold storage location but the United States is not. I wonder why. May be it has something to do with this: http://en.wikipedia.org/wiki/Executive_Order_6102

BasementMiner!

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Quote from: MagicalTux on March 05, 2013, 03:03:01 AM

CoinLab will only provide service to US and Canadian customers at this point. 0 balance accounts will be transferred too. The engine will still be MtGox's.

ABORT ABORT ABORT!

dave111223

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I notice that Coinlab site constantly coming up with messages like this on the homepage:

Quote

Current Price 81m ago
Mt. Gox sockets are down. Trade data will not update until they come back online, and depth data will only update once every 15 minutes. Sorry!

If they can't even get the current trade price reliably, how can they be serious about this major integration?

n8rwJeTt8TrrLKPa55eU

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Quote from: Bit_Happy on March 06, 2013, 07:52:47 PM

Hi vess,
Your new 'asset' is killing the market and unable to function properly on a busy day.
Even on a normal day it performs poorly when the market moves.
Not just bad, REALLY bad.

Yes I think at this point the total lack of an exchange that can handle real volume is worse for Bitcoin's reputation than anything happening over at Silk Road. Real money can't take seriously a market where the quotes lags behind by a ridiculous amount, and where the matching engine and APIs behave like they were implemented as one giant mutex.

The entire application and/or hosting infrastructure needs to be taken over by people who actually know how to build and deploy high-capacity transaction systems. Glad to see that one of the Bitcoin startup ideas listed over at BoostVC was the creation of a brand new exchange.

ArticMine

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Quote from: marcus_of_augustus on March 06, 2013, 08:04:20 PM

The parallels for this Mt. Gox - Coinlab transition are eerily similar to the Bitcoinica -Intersango transition.

I really wonder who thought it would be a good idea to move such a large part of the Bitcoin business to the country with the most overt, aggressive financial industry regulatory-capture regime? It's like they are walking into the lion's den willingly. Anyway, good luck to those of you sticking with ship .... although it appears to be taking on water. The announcement last week was that iceberg was indeed real, not that the boat did not hit.

This is a very legitimate concern when it applies to the Canadian part of the deal but not to the US part of the deal since US citizens and residents are subject to US law in these matters but Canadian citizens and residents are not! As far as US residents and citizens are concerned this is a good thing in my opinion. If they do not wish to be subject to US tax law then they should leave the US and renounce thier citizenship; otherwise this deal makes tax compliance and funds transfers for them way easier. In addtion for those outside the US and Canada it has the very desiriable effect of insulating MtGox from US regulation.

Nevertheless as I have indicated before I will keep an open mind on the Canadian part of the deal pending a response from Coinlab to my questions.

Monster Tent

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Get out now before Leonardo DiCaprio appears in Mt Gox the movie.

marcus_of_augustus

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Eadem mutata resurgo

The parallels for this Mt. Gox - Coinlab transition are eerily similar to the Bitcoinica -Intersango transition.

I really wonder who thought it would be a good idea to move such a large part of the Bitcoin business to the country with the most overt, aggressive financial industry regulatory-capture regime? It's like they are walking into the lion's den willingly. Anyway, good luck to those of you sticking with ship .... although it appears to be taking on water. The announcement last week was that iceberg was indeed real, not that the boat did not hit.

Bit_Happy

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A Great Time to Start Something!

Hi vess,
Your new 'asset' is killing the market and unable to function properly on a busy day.
Even on a normal day it performs poorly when the market moves.
Not just bad, REALLY bad.

Chris Acheson

sr. member

Activity: 266

Merit: 251

Quote from: vess on March 01, 2013, 03:12:22 PM

Will this transition remove the ability to use Dwolla for withdrawals?
No. It is possible we'll have a small delay while we make sure we're comfortable with the Dwolla withdrawal API, we're still talking to the Dwolla folks right now. That said, we want to support Dwolla, and Dwolla wants to work with us, so I don't anticipate major changes. I agree that once you've got the accounts set up, the fees at Dwolla are rocking.

What about Dwolla deposits? I currently have a recurring transfer set to send money to Mutum Sigillum twice a month. Should I suspend this before the CoinLab transition, to make sure my money doesn't end up in limbo?

Raoul Duke

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Quote from: Piper67 on March 06, 2013, 01:59:08 AM

Quote from: jubalix on March 06, 2013, 01:05:31 AM

Quote from: ArticMine on March 05, 2013, 01:45:48 PM

Quote from: kerogre256 on March 05, 2013, 10:25:05 AM

Trojan Horse. US government will close the business as soon as they will have all information they need.You have been warned

I very much doubt it. In any event the US Goverment will have its hands full dealing with all of those who do not comply with FACTA worldwide to concern itself with those that do comply. As far as I can see in the US side of this deal MtGox by partnering with a US based partner has found an excellent way to avoid having to deal with FACTA, while at the same time improving service to thier US customers and remaining 100% compliant. I fail to see why the US Government woud have a problem with this at all.

When it comes to the Canadian side of this deal all, I can say at this point is that I am waiting for answers to my questions from Coinlab.

because if this ever takes of in a big way....the US and many other govts will face destruction, as they will have no revenue base/financial control

they will have no choice but to make it illegal...the only real hope is that so many billion people are already in with cash, that it would be be like saying you cant drink water any more....which would be undoable even for a a govt

No. There's a whole other solution in which governments, including the US, co-opt Bitcoin. And a third in which they essentially ignore it,

I think they will have to choose the third solution. Wink

Piper67

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Quote from: jubalix on March 06, 2013, 01:05:31 AM

Quote from: ArticMine on March 05, 2013, 01:45:48 PM

Quote from: kerogre256 on March 05, 2013, 10:25:05 AM

Trojan Horse. US government will close the business as soon as they will have all information they need.You have been warned

I very much doubt it. In any event the US Goverment will have its hands full dealing with all of those who do not comply with FACTA worldwide to concern itself with those that do comply. As far as I can see in the US side of this deal MtGox by partnering with a US based partner has found an excellent way to avoid having to deal with FACTA, while at the same time improving service to thier US customers and remaining 100% compliant. I fail to see why the US Government woud have a problem with this at all.

When it comes to the Canadian side of this deal all, I can say at this point is that I am waiting for answers to my questions from Coinlab.

because if this ever takes of in a big way....the US and many other govts will face destruction, as they will have no revenue base/financial control

they will have no choice but to make it illegal...the only real hope is that so many billion people are already in with cash, that it would be be like saying you cant drink water any more....which would be undoable even for a a govt

No. There's a whole other solution in which governments, including the US, co-opt Bitcoin. And a third in which they essentially ignore it,

jubalix

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Quote from: ArticMine on March 05, 2013, 01:45:48 PM

Quote from: kerogre256 on March 05, 2013, 10:25:05 AM

Trojan Horse. US government will close the business as soon as they will have all information they need.You have been warned

I very much doubt it. In any event the US Goverment will have its hands full dealing with all of those who do not comply with FACTA worldwide to concern itself with those that do comply. As far as I can see in the US side of this deal MtGox by partnering with a US based partner has found an excellent way to avoid having to deal with FACTA, while at the same time improving service to thier US customers and remaining 100% compliant. I fail to see why the US Government woud have a problem with this at all.

When it comes to the Canadian side of this deal all, I can say at this point is that I am waiting for answers to my questions from Coinlab.

because if this ever takes of in a big way....the US and many other govts will face destruction, as they will have no revenue base/financial control

they will have no choice but to make it illegal...the only real hope is that so many billion people are already in with cash, that it would be be like saying you cant drink water any more....which would be undoable even for a a govt

ArticMine

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Monero Core Team

Quote from: kerogre256 on March 05, 2013, 10:25:05 AM

Trojan Horse. US government will close the business as soon as they will have all information they need.You have been warned

I very much doubt it. In any event the US Goverment will have its hands full dealing with all of those who do not comply with FACTA worldwide to concern itself with those that do comply. As far as I can see in the US side of this deal MtGox by partnering with a US based partner has found an excellent way to avoid having to deal with FACTA, while at the same time improving service to thier US customers and remaining 100% compliant. I fail to see why the US Government woud have a problem with this at all.

When it comes to the Canadian side of this deal all, I can say at this point is that I am waiting for answers to my questions from Coinlab.

kerogre256

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Trojan Horse. US government will close the business as soon as they will have all information they need.You have been warned

MagicalTux

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-

Quote from: pyra-proxy on March 05, 2013, 02:01:58 AM

Are the mt.gox yubikeys now junk? Or can they be paired with coin lab now as well for affected users.

Yubikey continue working the same as you still use MtGox.com.

Quote from: pyra-proxy on March 05, 2013, 02:01:58 AM

Will coin lab only be working with u.s. and can. Or if you like the service they provide and you're from elsewhere will we be able use it? What about 0 balance accounts, are they going to be transferred as well? What will the nature of coin labs and mt goxs relationship be? Is coin lab just a fund holder/deposit withdrawal wrapper/AML law compliance vehicle for u.s. and can. users while gox is still the engine under the hood or will coin lab be provided independant service offerings that overlap mt goxs such as trading?

CoinLab will only provide service to US and Canadian customers at this point. 0 balance accounts will be transferred too. The engine will still be MtGox's.

pyra-proxy

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Are the mt.gox yubikeys now junk? Or can they be paired with coin lab now as well for affected users.
Will coin lab only be working with u.s. and can. Or if you like the service they provide and you're from elsewhere will we be able use it? What about 0 balance accounts, are they going to be transferred as well? What will the nature of coin labs and mt goxs relationship be? Is coin lab just a fund holder/deposit withdrawal wrapper/AML law compliance vehicle for u.s. and can. users while gox is still the engine under the hood or will coin lab be provided independant service offerings that overlap mt goxs such as trading?

jubalix

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Quote from: ArticMine on March 04, 2013, 11:01:38 PM

Quote from: jubalix on March 04, 2013, 10:09:40 PM

... USA/CAD ...

It is USD not USA and it is as related to CAD as CNY is related to VND. Seriously just because two countries share a border it does not mean one can blindly just treat them as one.

It starts to get really tiresome sometimes when Canada is treated as if it were the 51st state of the United States.

I humbly suggest you research the term client state

as >> tvbcof notes, influence is being lost by USA...why?...CNY on the rise...note news

[1] spratty's island claims VND/CNY/JPY [USA quite quiet about this]

[2] note encirclement of CNY BY USA

[3] rumblings about FLK when us will have to put pacific before FLK for UK who have no carrier right now.

Almost USA is sorta (very sorta) becoming what USSR was a massive spending machine on weapons, at the expense of domestic needs...though not yet to the same degree, because the investment infrastructure is vastly different.

The only real hope the USA has is some of the Boston boys took a really long view on CNY from 200 - 60 years back they saw a rise of china, and that's a lot of what the rebuild Japan / extended Marshal plan was all about...its sorta bearing fruit for the US now as it has bases on CNY doorstep, but alot more debt than it expected in CNY ledger...at this stage....so it may only really succeed in shooting itself in the foot. Conversely CNY would like nothing more than to quietly unwind its position to the USD, and by quietly I mean while being able to choose thier own RMB level...due to domestic implications.

Quote from: tvbcof on March 04, 2013, 11:17:13 PM

Quote from: ArticMine on March 04, 2013, 11:01:38 PM

Quote from: jubalix on March 04, 2013, 10:09:40 PM

... USA/CAD ...

It is USD not USA and it is as related to CAD as CNY is related to VND. Seriously just because two countries share a border it does not mean one can just blindly lump them together as one.

In spite of my promise to keep quit, I cannot let this one pass. The Mt.Gox/CoinLabs goings-on are one of many examples which point to your being wrong. I think you are blinded by hope. Most Western countries are vassals of the US (almost by definition the of term 'Western' at this point) and Canada certainly so as a country well within our sphere of influence geographically and rich in resources. Even New Zealand which has neither of these problems is demonstrably subjugated as evidenced by the Dotcom events.

I personally have some disagreement with the assertion that the US is the 'leader of the free world', but it's the term 'free' which I have issues with. Not 'leader'. If you don't believe me on this just pay attention to future events.

ArticMine

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Quote from: tvbcof on March 04, 2013, 11:17:13 PM

Quote from: ArticMine on March 04, 2013, 11:01:38 PM

Quote from: jubalix on March 04, 2013, 10:09:40 PM

... USA/CAD ...

It is USD not USA and it is as related to CAD as CNY is related to VND. Seriously just because two countries share a border it does not mean one can just blindly lump them together as one.

In spite of my promise to keep quit, I cannot let this one pass. The Mt.Gox/CoinLabs goings-on are one of many examples which point to your being wrong. I think you are blinded by hope. Most Western countries are vassals of the US (almost by definition the of term 'Western' at this point) and Canada certainly so as a country well within our sphere of influence geographically and rich in resources. Even New Zealand which has neither of these problems is demonstrably subjugated as evidenced by the Dotcom events.

I personally have some disagreement with the assertion that the US is the 'leader of the free world', but it's the term 'free' which I have issues with. Not 'leader'. If you don't believe me on this just pay attention to future events.

Actually the Kim Dotcom case is a prefect example where the United States government already got rebuked by a court in Canada and their case is New Zealand is slowly falling apart. So it is actually turning into a case for the exact opposite. If anything the United States has already lost influence in New Zealand because of this. Ever wonder why Kim Dotcon is using a .co.nz domain for his new venture?

As for the MTGox / Coinlab deal let us wait and see what happens when it comes to the Canada portion.

Topic: Official Gox / CoinLab Integration and Transition FAQ - page 5. (Read 20872 times)