Fast eine halbe Milliarde Dollar ist weg: MtGox bestätigt ...
Mt. Gox - Bitcoin Wiki
Mt.Gox - CoinDesk
Hey folks. Does anyone know a new (easy/reliable) way for a dwolla user to get bitcoins? I have been away for awhile and notice dwolla no longer sends to mtgox due to legal reasons. If anyone has a tried and true workaround for this I would be really grateful. Thanks.
The Bitcoin Wiki is still listing Dwolla as a valid way to withdraw USD from MtGox.
https://en.bitcoin.it/wiki/MtGox#Dwolla_2 Since MtGox stopped using Dwolla last May, this really needs to be taken down. It'll only encourage new users to register and attempt to use MtGox without realizing the troubles of withdrawing USD from the market. I don't have the permissions to edit articles on the wiki, otherwise I would have edited them myself.
How do you buy bitcoin using Dwolla w/o using MtGox (and other not so private sources)
Like the title asks, if I a little money in a Dwolla account... how can I go about obtaining BTC w/o using something like MtGox? I'm just not so sure I want to use any source which is insistent upon me verifying who I am. I'd also prefer to avoid paying the higher overhead associated with peer to peer purchases locally if at all possible.
Trying to do my part and since away from gox. However is there any way to deposit with Dwolla to any other exchange? I'm currently in Australia. But I'll be back home in the US by the end of the month.
My collection of amazing early Bitcoin comments, right here from Reddit:
On buying (or not) a gaming rig to mine Bitcoin: “With the difficulty skyrocketing and exchange rates sitting stagnant at $5~8 for the last week or so, you pretty much missed the boat to buy dedicated mining hardware, IMHO. If you already have the hardware, or are looking for an excuse to buy a couple bitchin' new graphics cards for a gaming rig, there's definitely money to be made mining when you're not using it. But I don't think I'd drop $1k into a rig that's only to mine with unless it was $1k I'd blow on something even more retarded. I certainly wouldn't sink next month's rent into it.” https://reddit.com/AskReddit/comments/hnp7f/_/c1wuv1b/?context=1 On easily cashing out Bitcoin using mtgox: “I think getting money is not that difficult. The daily volume on mtgox is over $100K, so I think anyone can currently sell Bitcoins for USD without problems.” https://reddit.com/AskReddit/comments/hnp7f/_/c1wuhjh/?context=1 On it being $10: “Is Bitcoin 10 usd yet?” https://reddit.com/Bitcoin/comments/hpq6c/is_bitcoin_10_usd_yet/ Bonus: Snapshot of the isbitcoin10usdyet website from 2011: https://web.archive.org/web/20110606125320/http://www.isbitcoin10usdyet.com/ Mtgox might disappear: “400K bitcoins is $4M dollars. Given all risks and uncertainties around bitcoins, no wonder some of the early founders exit their investments. Tomorrow mtgox or dwolla may disappear. It is the matter of one government intervention.” https://reddit.com/Bitcoin/comments/hq1wj/_/c1xgesq/?context=1 Bitcoin is terrible at friendly front-end: “This is a dangerous point-of-view. The entire bitcoin ecosystem is ugly, confusing, and deeply unusable. Really think about the questions posed in the article. The client works, as in, it creates a functional front-end for some bitcoin-related tasks, but it isn't at all designed for how humans would want to interact with the currency. The point of the article isn't that the client is hard, it's that the client works pretty well for obsessive nerds (present company included), but if bitcoin is really going to succeed at the goals it sets out to accomplish, it needs to not only be usable by normal people, it needs to be exceptional. If you think it's reasonably usable, you're welcome to that opinion, but please understand that you're the exact sort of person Mr. Falkvinge was referring to. Great with complex logic, terrible at friendly front-end.” https://reddit.com/Bitcoin/comments/hrqpm/_/c1xtfuy/?context=1 On wallets going out of sync: “One thing that I think is lacking is the ability to functionally use wallets on different machines as they will tend to get out of sync. This might be able to be overcome if new addresses were deterministically created from a seed contained in the wallet, but there are probably better ways. Also, the UI for the official client is kind of a bone.” https://reddit.com/Bitcoin/comments/hrqpm/_/c1y730k/?context=1 On Bitcoin’s ease of use: “In fact, BTC is in such an infant state right now only enthusiasts investors, and geeks who can actually grasp how the system truly works, are using it for real. The usability issues raised by the article are real. No grandma, or any well respected enterprise for that matter, would accept working with this type of GUI. If anything, a REAL enterprise backend still needs to be developed to handle the BTC's ungly guts, with all transactions details, hashes, mining, wallets, proxy connections, peer discovery via IRC channels... I mean... this is all too RAW for the end user. I can see a near future where startups will begin to offer user friendly GUIs, online access, maybe even online banking for your bitcoin accounts, automated backups and safety mechanisms to protect your coins in case of theft. All of us geeks will end up supporting the bootstrap of this network so that, later on, your grandma will be able to use this just as she would use a credit card today.” https://reddit.com/Bitcoin/comments/hrqpm/_/c1xungz/?context=1 rBitcoin is not a sub for memes: “This isnt a subreddit for memes. Take it back to pics” https://reddit.com/Bitcoin/comments/i7z0v/_/c21m3ld/?context=1 I think I’ll keep my money elsewhere: “This further reinforces BC's image as nothing more than a Ponzi scheme. When the distribution is skewed that heavily towards early adopters, they will have almost total control over the market. Those 32 could manipulate to their hearts content. I think I'll keep my money elsewhere....” https://reddit.com/Bitcoin/comments/ifl26/_/c23e3ei/?context=1 Tulip mania: http://en.wikipedia.org/wiki/Tulip_mania https://www.reddit.com/AskReddit/comments/hnp7f/i_just_invested_half_of_my_next_months_rent_in/c1wuhkt/
I am a first time buyer overwhelmed with methods of buying in. Any help is appreciated.
Sorry for the mobile formatting. I have been wanting to buy bitcoin for years and have been pushing it off while I procrastinate over where to actually start. I am overly averse to targeted advertising, and am overcautious in trusting random links I find on the general internets. A general indecision from what seems to be a wide range of possibilities in my research also has me trigger shy. Hoping to find some guidance on where to buy my first bit of bitcoin, and who I can trust. I am a Canadian and want to buy a relatively small amount to start (a few hundred CAD), but with periodic purchases to build up my holdings. Planning to hodl until I discover places where I can actually use it nearby. I primarily use apple products, but don’t really even know if I can use software to access or buy mobilly. And before you shit on me for “living under a rock” and being too lazy to research, please understand: it is very overwhelming to us noobs with all of the options, fees structures, regional restrictions, KYC, etc., and different sources come up with new options every time I look. It is pretty unheard of in my area so I don’t even have anyone savvy to talk about it with either. I just want a secure way to buy and hodl and get started. Even if you suggest how much time I should set aside and where I can look for the trusted information. Or a few recommendations that would work for me. I’m just a big mix of eager and cautious and busy but I want to get moving.
PSA: Bitinstant deposit STILL not transferred, after almost a week. ZERO response from any support. Please upvote for exposure!
I have filled out the online contact, contacted the reddit user bitinstant numerous times, called, emailed, NOTHING is working. Please upvote to get this some exposure so I can either be refunded my money or have it transferred to mtgox. UPDATE: As of today, my deposit to mtgox has finally been issued by Bitinstant with a suitable inflation change. Even though it's a shame that it took bitinstant so long for them to get back to me without any correspondence, the transaction DID finally go through, with an additional amount to compensate for inflation. Thanks to everyone for giving this exposure!
October, 2011 was when I first heard about Bitcoin. A friend excitedly told me about it, that the price had crashed, that it could be 'mined', and that it could be purchased on exchanges. He didn't own any, but he found it interesting, and so did I. I was instantly interested in acquiring some coins. That the price had 'crashed' meant a buying opportunity, and I further saw it as evidence that the system was somehow free, and had a life of its own. I did not purchase any right away, regretfully, since the coins were about $3 each. I did do some initial research, calculating mining profitability, and looking into the process for buying coins on MtGox. I also read about the thefts and hacks. I found it intuitive these incidents were matters of endpoint-security, and not reflective of a systemic weakness. Yet I would have much to learn if I was to avoid becoming a victim. I continued to casually follow Bitcoin developments, and occasionally checked the price. Eight months later I came across a Timothy B. Lee article in Forbes that detailed the Bitcoin Richlist. It was my catalyst. It was time for a technical deep dive, time to understand what gave people the confidence to entrust millions of dollars of value to the system. Of everything I read that day, it wasn't the proof-of-work that seemed revolutionary, but simply the fact that a lost private key meant the coins would be irrecoverable. That signified Bitcoin put true and total control of money into the hands of users, and for that it was different and worthwhile. I decided to invest. All that was left was working out the mechanics of the transaction. And security. I was determined to not fall victim to a hack. An offline, paper wallet seemed like the easy choice. The price was in the $6 - $7 range. My first purchase went though MoneyGram and Coinapult, with MtGox as my receiving wallet. I put in $150, and got out $130 worth of coins. The price had surged in the few days since I decided to buy, to slightly under $10 per coin. I transferred the coins off of MtGox and onto my paper wallet, and it all felt very real! I wanted to buy more, and settled on CoinFloor to avoid the hefty fees I paid the first time. CoinFloor also allowed for instant fiat funding via a deposit at a bank teller window. Depositing $900 directly into a bank account was not without risk, but CoinFloor came through and the money was credited within 5 minutes. It all went flawlessly, and soon with my 100 coins spread out over a few different paper wallets, I could rest easy, without fear of a hack. Edit - I meant BitFloor, not CoinFloor I occasionally checked the price, tested out Satoshi Dice, and read a little more on the technical underpinnings, but other than that, I mostly forgot about my Bitcoin investment for the next 6 months. Then, in early 2013, I read about a few seed rounds in Bitcoin startups, and I saw pictures of a Bitcoin booth at the CES is Las Vegas. Somehow that booth, with the Bitcoin logo, made it all seem even more legitimate. The price had climbed into the $14 - $15 range, and I wanted more coin. CoinFloor had been hacked and was out of commission. This time I would use the Dwolla to MtGox method of funding. I found myself seriously regretting not having done Gox's verification the previous summer, as the price quickly climbed while I waited. When my verification finally cleared, the price had shot up to $19, and I transferred in several thousand dollars and bought another ~150 coins. Over the next few months I kept buying until the price crossed $100 per coin. In total, I had put in about $10,000 for 340 coins. I worked part-time, with an annual income of about $25,000, so that $10,000 felt substantial. The rise to $266 was exhilarating, as was the following surge to $1242. I mostly held, but sometimes tried to time the market with a small position (always 10% of holdings or less). I sold some coins the first time Bitcoin passed the $400 mark to recoup my initial investment, and I arbitraged when it was profitable. I lost a then-painful amount of fiat on MtGox, but not any coins. I held tight during the long bear market, with absolute confidence that the price would find a non-zero bottom, and it would only be up from there. The ecosystem was growing, the technology was maturing, and investment money was pouring in, and yet the price continued to decline. I would have loved to buy more, but doing so would have been truly irresponsible from a diversification perspective. I have largely stayed away alt-coins, but I did mine-and-dump those I found annoying, and mined and held the one that I found interesting - Ethereum. I reluctantly pushed some BTC into Ethereum early this year, which turned out to be a good move. In total, over the past 5 years, I have returned about 200x on my initial investment, in the current form of about 250 BTC, about 700 ETH and approximately $300k of other liquid assets. The result is almost identical to a pure buy-and-hold from the beginning, but I felt the need to hedge as valuations changed over time. I feel no pressure to sell more coins, though I probably would convert a few in the $20k-$40k range, prices which I have long seen as likely, if not inevitable. I am in my early 30's. Ask Me Anything! Though I might only have time to answer a few…
Mt. Gox, like e-gold, is foiled in U.S. operations by failing to register as a "money transmitter"
I have a brief article on the Mt. Gox/Dwolla seizure that I'll try to continue updating with any developments. http://www.bitcoinlaw.net/developing-dwolla-ordered-to-freeze-mt-gox-account-in-seizure-warrant-by-department-of-homeland-security/ Money transmitters -- like Dwolla and Paypal and Western Union -- have to register with the federal government, as some protection against money laundering. Mt. Gox, with some apparent hubris in believing that registration requirements did not apply abroad, or that Bitcoins were somehow exempt, did not register. This is pretty much the same fate that brought down e-gold. E-gold, of course, was much more centralized and subject to government interference with the single point of failure. But, of course Mt. Gox had become a dominant Bitcoin exchange -- whose ability to process and make payments will now certainly be impacted. Mt. Gox's Dwolla account is now frozen for the foreseeable future. While this is not an attack on Bitcoin itself, it does reinforce the FinCEN guidance. As if Mt. Gox's technical/DDOS woes hadn't already caused some volatility in the Bitcoin marketplace, the failure to register as a money-transmitter after the FinCEN guidance could now end up with a significant amount of customer funds frozen.
Dwolla froze my account because I "engaged in peer to peer virtual currency exchange"
http://i.imgur.com/tT1xHTJ.jpg I just got this email today after I initiated a bank transfer to fund my Dwolla account. I had previously used dwolla to buy bitcoins on localbitcoins, and had also transferred $1 to camp bx in order to "age" my account, and was planning on trying that out. Is this a common occurrence?
Followup to "Tried to buy some Bitcoins through Coinbase. Just got this email. WTF!"
Just got this in my inbox this morning:
AUG 29, 2013 | 10:46PM PDT Olaf replied: Hi, Sorry about that! After manually reviewing your account I've whitelisted it so you shouldn't experience any additional issues going forward. I've also pushed through the transaction that was canceled previously (at the original exchange rate you locked in), so you should have those coins soon. Hope it helps and sorry again for the trouble!
So I've been waiting and waiting and waiting (as have many others). It's been 3 months today since my withdrawal request went in for an international wire transfer and it is still yet to be processed! I have contacted MTGox multiple times and have been given the same spiel everytime regarding large backlogs and that patience is required etc. I know that SEPA transfers for Euros are going through in less than a week for some people, so I am beginning to assume that MTGox has stolen my money. Anyone else in a similar position?
Why do Bitcoin exchanges rely on flaky internet services like Dowalla rather than using the banking system and Western Union like services?
Seeing posts around here and on Bitcointalk.org about how it takes ages to clear payments to bitcoin exchanges, I can't help but wonder, why are bitcoin businesses are trying so hard to do it the wrong way when we have perfectly good ways of channeling money across the world with regular bank transfers and Western Union like services? With most western union services out there transactions are cleared in 24 hours or less. With a bank transfer (wire) it usually takes 24-48 hours to clear, than why are we using and relying on something as problematic as Dwolla? EDIT: Based on the comments and some my own research, I came to a realization that a new type of exchange is needed. Read more on bitcointalk.org
The world’s largest Bitcoin exchange, MtGox, had its account with Dwolla closed down by the order of the Department of Homeland Security. The fact was first discovered on Monday when OKCupid cofounder Chris Coyne posted a screenshot of an email from Dwolla saying that his deposit to MtGox could not be processed because of “recent court orders by the Department of Homeland Security and US ... Die Nutzer ahnten es schon, nun ist es amtlich: Hacker haben der insolventen Bitcoin-Börse MtGox fast 500 Millionen Dollar gestohlen. 850.000 Bitcoins sind verschwunden. Das Geld der Besitzer ... Mt. Gox, called "Mount Gox" or simply "Gox", was the most widely used bitcoin currency exchange market from shortly after its inception in 2010 to its insolvency late 2013. The market was closed February 25, 2014 and has since filed for bankruptcy protection in Japan and the United States, after losing 640 thousand bitcoins.. A registrant on Mt. Gox had at least two sub-accounts: one for ... Launched in 2011, Mt. Gox was the world’s largest bitcoin exchange, handling up to 70% of bitcoin trades, until its spectacular demise in 2014. Mt. Gox, genannt "Mount Gox" oder einfach "Gox", war der am häufigsten verwendete Bitcoin-Devisenmarkt von kurz nach seiner Gründung im Jahr 2010 bis zu seiner Insolvenz Ende 2013.Der Markt wurde am 25. Februar 2014 geschlossen und hat Insolvenzschutz angemeldet in Japan und den Vereinigten Staaten nach dem Verlust von 640.000 Bitcoins.
Department of Homeland Security Shuts Down Dwolla Payments to and From Mt. Gox - The DHS issued a "seizure warrant" for the funds associated with Mt. Gox's Dwolla account. More here: http ... BITCOIN PRICE , BITCOIN FUTURE in doubt http://youtu.be/eO-yrpQpIT8 What is NAMECOIN BITCOIN'S First Fork http://youtu.be/oBkhPhu3_B4 Test Scanning Stainless... MtGox Bitcoins To BTC Bitcoins BITCOIN PRICE , BITCOIN FUTURE in doubt http://youtu.be/eO-yrpQpIT8 What is NAMECOIN BITCOIN'S First Fork http://youtu.be/oBkh... This video is unavailable. Watch Queue Queue. Watch Queue Queue The Department of Homeland Security appears to have shut down the ability to use Dwolla, a mobile payment service, to withdraw and deposit money into Mt. Gox, a Bitcoin trading platform. http ...