Coinbase close to being insolvent. They are very low on Euros. Low on USD.
Typical friend of friend who story. Someone told me that Coinbase is close to being insolvent. They don't have enough Euros to fulfill all obligations, and their USD reserves are also very low. What happen was that everyone moved their coins off the exchange after the news broke. They had used your coins as collateral and leverage them for fiat. Once people started moving coins off the exchange, collateral calls were made, and they were caught overleveraged. Coinbase entered into a death spiral. They can't stop it, unless you put your coins back into the exchange. It's full crisis mode there.
Prohibiting agreements or practices that restrict free trading and competition between business entities. This includes in particular the repression of cartels.
Banning abusive behaviour by a firm dominating a market, or anti-competitive practices that tend to lead to such a dominant position. Practices controlled in this way may include predatory pricing, tying, price gouging, refusal to deal and many others."
I know very little about the details of the law but isn't what the banks are doing? (And this is not just in the UK!) They are defending a monopoly that should never have been allowed to exist! Transferwise has just been banned from sending money to Bitstamp: http://transferwise.com/blog/2013-04/notice-to-bitcoin-users-april-2013 Mtgox had their account in the UK closed. Bitfloor closed due to their bank closing it (I think). We need to do something about this! Can someone with a law background provide a watertight argument for why the banks refusing transfers to Bitcoin exchanges is illegal? Can we take the banks to court over this?
Bitstamp recently paid me out over USD 1m. I wanted to write this post to thank Bitstamp and to assure other users waiting for big payouts. Having lost coins on MtGOx I was extremely nervous. Here’s a summary of what happened: Early January – requested a withdrawal but I realized Bitstamp would change the amount from USD to euros and I wanted to keep it in dollars, so I cancelled the withdrawal. Bitstamp acknowledged the cancellation and requested more Know Your Client information: eg proof that I had purchased the bitcoins on another exchange and my occupation to which I sent them screenshots of my bank statements and my Linkedin account. I replied to the KYC request the same day Early to mid-January – requested a USD SEPA withdrawal to Metro Bank. They refused as Metro Bank reject any Bitcoin related payment. Bitstamp also requested more KYC information End January - requested a USD withdrawal to a Barclays USD account via International Transfer. The delay here was waiting for Barclays to open the USD account which took five days against Metro Bank who instantly opened the account. The international transfer cost about USD 1000 but it ensured Bitstamp would not convert to euros. The USD 1000 charge felt like tipping the dealer. Bitstamp requested more KYC information but did say they would process the withdrawal despite the outstanding KYC information. 7 February – received the money to a USD account The money has been life changing and enabled me to retire in my fifties. It feels like winning the lottery but unlike winning the lottery in the UK I will have to pay tax on it. Please don’t send me any begging letters. If they are anything like the ones I used to send they will break my heart
Due to the sheer amount of misinformation surrounding myself and current events, I thought it necessary to post something. This is going against all advice that I have received on the matter. The fraud charges are of my greatest concern right now, they are baffling to me and here is why: I sold several people bitcoins for cash, most of which had them sent directly to their own wallets or exchange accounts prior to Neo and Bee becoming open to the public. There were 4 people however that requested for me to hold them until they provided me with an address to send them. Two people that bought on November 20th 2013, One Person that bought from me twice once on the 2nd December 2013 and the 20th December 2013 and one person who bought from me on the 24th December 2013. There was a 5th person I was holding Bitcoin for however following a change in their personal circumstances I bought the bitcoins back from them. Sorry to disappoint those that believe the tales that I simply took them.... The keys are still stored on paper. The total sales to these 4 people amounts to 75.29270138 BTC which were purchased for a combined total of €35213.57 so I have no idea where the values reported in the media have been derived from. I have not received one single request from the individuals who bought the bitcoins from me to send the coins to an address they provided. With one exception a request was made but that was received from the individual that introduced one of the buyers to me, they requested for me to transfer the coins to his Bitstamp account. I didn't send the coins to his address as he was not the person that I had the agreement with. One of these people went directly to the police following rumors that I had fled the country. Here is a message to the Criminal Investigation Department of the Cypriot Police: ANSWER YOUR PHONE or CHECK YOUR EMAILS!!!! I have been trying for days to contact them to resolve this situation. The whole thing could be cleared up in a matter of days, because as of right now their case is based on rumors of me fleeing Cyprus which is complete garbage. I still have a house full of my own belongings, assets, family, friends and most importantly my daughter in Cyprus. I have provided my contact information via email to the police and to third parties such as the reporter from the Cyprus Mail and one of the people who bought bitcoins from me. If they do not contact me to arrange a solution, then I assume my greatest fears are true that they are doing nothing more than trying to set me up on charges to discredit both myself and Bitcoin as a whole, whilst creating more fear about challenging the status-quo. The are three reasons for me not returning to Cyprus immediately following the issuance of a warrant and those are;
I have a family funeral to attend.
The whole situation can be resolved without me doing so.
The manner in which the investigations are being carried out are concerning, the police haven't made an attempt to contact me despite numerous personal requests for them to do so.
The only solution to the problem is for the individuals to provide me with their addresses through the police so I can arrange for the bitcoins to be sent to them. Without those peoples addresses I can do nothing but maintain the original written agreements. I have also instructed a lawyer in Cyprus to make direct contact with the police to try and put a resolution in place so this can be concluded quickly so that I can continue working with the business recovery and sales agents to resolve everything surrounding Neo & Bee. The police have been making a concerted effort to locate my assets in Cyprus, which doesn't seem the most logical way of handling such a case, surely they should be trying to contact me to get the full picture and not issuing warrants based on hearsay. The only question I want to ask the Cypriot police is; If I buy some building supplies and agree to provide a delivery address at a later date, but never do provide an address. Has the seller committed fraud if he still holds the supplies for me? To clear a few things up surrounding Neo & Bee, yes there are creditors to the business and I have not ran with any coins, we had made payments in excess of €1.4m with many of the coins being converted to Euros before the run up in price, the largest amount converted at once was the day Silkroad was busted, I had to take the decision on that given day to convert them or risk them becoming pretty worthless and the business not getting off the ground. The outstanding funds from BitFundeWeExchange are valued at this moment around €500,000. The coins of my own I have on MtGox would have covered all creditors with a claim against the business in full. Had I wanted to run off with coins, it would have been better to do so before spending all of them and the remainder of my own coins on the business. Questions have been raised about my own personal assets too, something I shouldn't have to answer about but yes, I bought a Bentley back in December, before any issues with MtGox and getting bitcoins out. Anyone that understands the price difference in cars between Cyprus and the UK they will understand exactly why I sold my own bitcoins to buy the car. The car is still in Cyprus, it hasn't been shipped anywhere and my original plan was to sell it after the summer and make a nice profit, which would have been reinvested into Bitcoin or the business. When it is possible for me to do so, I still plan on selling the car to put the money towards satisfying creditors. To this end I am concentrating first and foremost on resolving the issues with Cypriot police including my planned return to Cyprus. Only then I will concentrate all of my time on resolving everything surrounding Neo and Bee. Regards, Danny Brewster
Bitcoin gets another day in court- I had to testify for 30 minutes
I invested in Bitcoin in June of 2012 and I've done pretty well since then. Today I was posting bond for a friend of mine who was booked on a drug-related charge and I sold some BTC to cover the bond. I had to produce statements from MtGox in order to show how I obtained the money. I was grilled by the prosecution for about 30 minutes regarding Bitcoin. The prosecution had looked up some stuff in Bitcoin and they were trying to argue that I might have obtained the money by illegitimate means (i.e. laundering money), but their arguments were dismissed pretty quickly by the judge. Mind you that pretty much nobody in the court room, including the defense, had any idea what Bitcoin was when we started. Some of the questions I was asked by the prosecution: 1. Is it true that Bitcoin is not regulated by any state? 2. You are aware that MtGox is not a registered money transmitter? 3. Bitcoin is not a real currency in the sense you can't use it in Wal-Mart, is that correct? 4. Your MtGox account is not an investment account, such as a traditional mutual fund, stock or options, correct? 5. Is it true that Bitcoin is not the official legal tender of any country or jurisdiction? 6. Is it your understanding that Bitcoin is not regulated by FinCEN? 7. Do you realize gains from the rise or fall of the current Bitcoin price? 8. Do you know how Bitcoin mining works? 9. Do you mine Bitcoins? (there are many other questions in the span of 30 minutes, but these were the ones that stood out) My answers: 1. Yes, it's a decentralized currency so there is no country or state that controls it. 2. Objection by defense and sustained. 3. Is that relevant? (the judge said that he's going to determine if it's relevant and I should just answer the question) ... Yes, you can't use it in Wal-Mart. It's not a traditional currency in that sense. 4. It's not a traditional investment account, but it's no different from investing in currency. (the judge and the prosecution went back and forth here about how one can invest in DollaYen, DollaEuro and they agreed that it's an investment) 5. Objection by the defense (asked and answered) and sustained. 6. Yes. Objection by the defense, but it was overruled and I had already answered the question. 7. Yes. It works just like any other investment: you buy in at a certain price and you sell at a different price. If I have profit, then that's a capital gain. 8. Yes. 9. No. Statements by the prosecution (most of them dismissed by the judge): 1. Bitcoin is used for money laundering and other illegal activities. 2. Bitcoin is not a real currency. He went on about how it's not regulated, it's not real currency and it's used for illegal activities such as money laundering, but the judge dismissed it saying that it's irrelevant. They also tried to suggest that money obtained from Bitcoin is not traceable, but the judge agreed with the defense that the statements from MtGox are sufficient to prove where the money came from. The judge also made statements that this seems to be in line with any other investment and it should be accepted as a legal source for the bond. Closing statement from the defense (this was the best part): "Some people like to keep their money in the bank, some keep it under the mattress and some invest it in geeky stuff like Bitcoin. (the whole courtroom, including the judge, erupted in laughter) However, that's not grounds for rejecting the bond. It is entirely reasonable that the witness, who is x-years-old, not married, has no children, has no mortgage and makes x amount of money per year is capable of producing the bond amount." All and all, it was pretty fun to be up there and testify in defense of both my friend and Bitcoin. I'll try to get the court transcripts and post them up here, it was pretty entertaining to see the prosecution struggle with Bitcoin.
Hello all, Wanted to hear if I'm the only one who suddenly is being asked a lot of questions when trying withdraw my money from Bitstamp. Ive used bitstamp for a few years, and Mtgox when it was still alive. Last december it took 2 months for my withdrawal to go through. Now I tried to lift the rest of my holdings to my bank account. Bitstamp sent me a bunch of questions to answer. Standard KYC questions (why Im withdrawinbg etc). No problem with that. BUT THEN the next thing support wants me to explain some withdrawals of bitcoin from MARCH 2017... ???? This is NOT normal and I feel like maybe bitstamp has a liquidity problem??? I mean, I used shapeshifter at those times. I sold some coins to a friend (cash in real life). There is NOTHING suspicious.. BUT how can they require that users should document somehow all the transactions and deposits and withdrawals? So.. my money is now apparently stuck bistamp.. does someone else have similar problems. Please warned that this could mean liqiudity problems at bitstamp. Unless they make this go through. I will just move the coins to a nother exchange... I mean. How stupid aint this? I'm incredibly sad to have my HONEST euros stuck and I cant get to them now.. was planning to go travel... now bitstamp fucked it up. - Joakim
Hi, so i have been following bitcoins for the past few months and have been fascinated by them. I have read countless articles about them and i think i have made my decision about what i think of them, and i think i have finally come round to the idea of bitcoin. The next question for me is how to buy them. Would anyone be able to help me buy m first bitcoin? I messaged the reddit tip bot and traded in my karma so i could see how wallets and transferring works. I then made a wallet and transferred all 0.0001 of my bitcoins to to it :) I am now looking for a way to buy bitcoins from the UK, i read on here that bitbargain is a good place to buy them but the prices seem quite high. Mtgox seems to be the biggest but even after looking on its faq i am still a bit puzzled by it. Are there any other reliable sites? How long after asking to buy bitcoins on Mtgox should i expect to wait for the bitcoins to arrive? I have been looking around to find the answers to these questions for myself but if someone could clarify this for me i would be very grateful :) Thanks a lot (what sort of price should i be expecting to pay, where and how do you all buy from?) Edit: Thank you all very much for your replies, they are a huge help and very informative, i will let you know when i have my first coin :)
Bitcoin is going down and here are the 2(3) main reasons
As i predicted Cryptsy downfall way back (11.12.2014 http://cryptocoinex.org/news.php?readmore=9) i predict BTC going down hard to 1000 EURO in the next two months. Here are the main reasons why and i think you should think about it. 1. Poloniex are going MtGox on us (stuck transfer, banned accounts, wallets not working for incoming transfers and outgoing). 2. 1 August is going to be a split and we will have two bitcoin chains (price will go hard down when this happen and even 1000 EURO is good price). 3. The CEO of MtGox confirmed that there was a BOT made by the company that make the price of Bitcoin skyrocket to 1000$ back in the GOX days..... I think the price for BTC can and will reach 10 000 EURO or more, but it will happen slow and spikes like this (200-300 euro to 2300 euro in less then 1 year) are bad for us.
Why are localbitcoins prices so out of sync with mtgox?
The GB prices on localbitcoins are getting ridiculous: apart from 1 seller who only sells in large quantities, most sellers now ask for ~£80 per bitcoin, and buyers asking for ~£70. Contrast this with the price on mtgox: around £60. Even worse, the euro price on localbitcoins is ~75, equivalent to about £60, and the US price is similar. How is this possible? Is anyone even buying at the GB prices? If so, someone with accounts in 2 countries should be able to make a decent profit, which should bring the prices more in line... why isn't this happening?
Abstract Nakamoto's famous blockchain protocol enables achieving consensus in a so-called permissionless setting---anyone can join (or leave) the protocol execution, and the protocol instructions do not depend on the identities of the players. His ingenious protocol prevents ``sybil attacks'' (where an adversary spawns any number of new players) by relying on computational puzzles (a.k.a. ``moderately hard functions') introduced by Dwork and Naor (Crypto'92). Recent work by Garay et al (EuroCrypt'15) and Pass et al (manuscript, 2016) demonstrate that this protocol provably achieves consistency and liveness assuming a) honest players control a majority of the computational power in the network, b) the puzzle-hardness is appropriately set as a function of the maximum network delay and the total computational power of the network, and c) the computational puzzle is modeled as a random oracle. Assuming honest participation, however, is a strong assumption, especially in a setting where honest players are expected to perform a lot of work (to solve the computational puzzles). In Nakamoto's Bitcoin application of the blockchain protocol, players are incentivized to solve these puzzles by receiving rewards for every ``blocks'' (of transactions) they contribute to the blockchain. An elegant work by Eyal and Sirer (FinancialCrypt'14), strengthening and formalizing an earlier attack discussed on the Bitcoin forum, demonstrates that a coalition controlling even a minority fraction of the computational power in the network can gain (close to) 2 times its ``fair share'' of the rewards (and transation fees) by deviating from the protocol instructions. In contrast, in a fair protocol, one would expect that players controlling a ϕϕ fraction of the computational resources to reap a ϕϕ fraction of the rewards. In this work, we present a new blockchain protocol---the FruitChain protocol---which satisfies the same consistency and liveness properties as Nakamoto's protocol (assuming an honest majority of the computing power), and additionally is δδ-approximately fair: with overwhelming probability, any honest set of players controlling a ϕϕ fraction of computational power is guaranteed to get at least a fraction (1−δ)ϕ(1−δ)ϕ of the blocks (and thus rewards) in any Omega(κ/δ)Omega(κ/δ) length segment of the chain (where κκ is the security parameter). As a consequence, if this blockchain protocol is used as the ledger underlying a cryptocurrency system, where rewards and transaction fees are evenly distributed among the miners of blocks in a length kappa segment of the chain, no coalition controlling less than a majority of the computing power can gain more than a factor (1+3δ)(1+3δ) by deviating from the protocol (i.e., honest participation is an n/2n/2-coalition-safe 3δ3δ-Nash equilibrium). Finally, the fruit chain protocol enables decreasing the variance of mining rewards and as such significantly lessens (or even obliterates) the need for mining pools. References [sol] http://www.coinwarz.com/calculators/bitcoin-mining-calculator. [BCL+05] Boaz Barak, Ran Canetti, Yehuda Lindell, Rafael Pass, and Tal Rabin. Secure computation without authentication. In CRYPTO’05, 2005. [BHP+] Iddo Bentov, Yuncong Hu, Rafael Pass, Elaine Shi, and Siqiu Yao. Decentralized pooled mining: An implementation of fruitchain. Manuscript. [BPS16] Iddo Bentov, Rafael Pass, and Elaine Shi. Snow white: Provably secure proofs of stake. Cryptology ePrint Archive, Report 2016/919, 2016. http://eprint.iacr.org/2016/919. [CKWN16] Miles Carlsten, Harry A. Kalodner, S. Matthew Weinberg, and Arvind Narayanan. On the instability of bitcoin without the block reward. In Proceedings of the 2016 ACM SIGSAC Conference on Computer and Communications Security, Vienna, Austria, October 24-28, 2016, pages 154–167, 2016. [DN92] Cynthia Dwork and Moni Naor. Pricing via processing or combatting junk mail. In CRYPTO’92, pages 139–147, 1992. [ES14] Ittay Eyal and Emin G¨un Sirer. Majority is not enough: Bitcoin mining is vulnerable. In Financial Cryptography and Data Security, pages 436–454. Springer, 2014. [GKL15] Juan Garay, Aggelos Kiayias, and Nikos Leonardos. The bitcoin backbone protocol: Analysis and applications. In Advances in Cryptology-EUROCRYPT 2015, pages 281–310. Springer, 2015. 25 [HP15] Joseph Y. Halpern and Rafael Pass. Algorithmic rationality: Game theory with costly computation. J. Economic Theory, 156:246–268, 2015. [KKKT16] Aggelos Kiayias, Elias Koutsoupias, Maria Kyropoulou, and Yiannis Tselekounis. Blockchain mining games. In Proceedings of the 2016 ACM Conference on Economics and Computation, EC ’16, pages 365–382, 2016. [KP15] Aggelos Kiayias and Giorgos Panagiotakos. Speed-security tradeoffs in blockchain protocols, 2015. [KP16] Aggelos Kiayias and Giorgos Panagiotakos. On trees, chains and fast transactions in the blockchain. IACR Cryptology ePrint Archive, 2016:545, 2016. [KRDO16] Aggelos Kiayias, Alexander Russell, Bernardo David, and Roman Oliynykov. Ouroboros: A provably secure proof-of-stake blockchain protocol. Cryptology ePrint Archive, Report 2016/889, 2016. http://eprint.iacr.org/2016/889. [LSZ15] Yoad Lewenberg, Yonatan Sompolinsky, and Aviv Zohar. Inclusive block chain protocols. In Financial Crypto’15, 2015. [mtg10] mtgox. https://bitcointalk.org/index.php?topic=2227.msg29606#msg29606, 2010. [Nak08] Satoshi Nakamoto. Bitcoin: A peer-to-peer electronic cash system, 2008. [NKMS16] Kartik Nayak, Srijan Kumar, Andrew Miller, and Elaine Shi. Stubborn mining: Generalizing selfish mining and combining with an eclipse attack. In IEEE European Symposium on Security and Privacy, EuroS&P 2016, Saarbr¨ucken, Germany, March 21-24, 2016, pages 305–320, 2016. [PSS17] Rafael Pass, Lior Seeman, and Abhi Shelat. Analysis of the blockchain protocol in asynchronous networks. In Eurocrypt, 2017. [PS16] Rafael Pass and Elaine Shi. Hybrid consensus. http://eprint.iacr.org/2016/917, 2016. [SSZ16] Ayelet Sapirshtein, Yonatan Sompolinsky, and Aviv Zohar. Optimal selfish mining strategies in bitcoin. In Financial Crypto’16, 2016. [SZ15] Yonatan Sompolinsky and Aviv Zohar. Secure high-rate transaction processing in bitcoin. In Financial Cryptography and Data Security - 19th International Conference, FC 2015, San Juan, Puerto Rico, January 26-30, 2015, Revised Selected Papers, pages 507–527, 2015.
For those who do not get bitcoin, these was what happened after drawing £20 from a cash point today
I have been a fan of Bitcoin for a couple of years and also someone who nearly lost all at mtgox, but I am still here. As an expat Bitcoin is so obvious, but today I thought I would just do a small experiment to highlight why it should be universally adopted for me and others (Certainly for expats or travellers). The simple test was to draw out £20 from a cash machine in the UK (from my Spanish bank account) that advertises no charges to withdraw cash. This time I thought I would pay attention to the whole process. Firstly the cash point says no fees, but the rate of exchange is 1.3165 whereas the current rate is 1.21 So £20 cost me 26.42 euro rather than 24.30 a difference of 2.12 euro, then I checked my bank account to see that my bank has also added a charge of 4 euro Therefore to draw out £20 (26.42 euro) cost me 6.12 euro, need I say more. Obviously the market is not very liquid at the moment, but using Bitcoin you can avoid these fees or even get a better rate. Need I say more!
https://www.mtgox.com/press_release_20140210.html Original message from their website: Dear MtGox Customers and Bitcoiners, As you are aware, the MtGox team has been working hard to address an issue with the way that bitcoin withdrawals are processed. By "bitcoin withdrawal" we are referring to transactions from a MtGox bitcoin wallet to an external bitcoin address. Bitcoin transactions to any MtGox bitcoin address, and currency withdrawals (Yen, Euro, etc) are not affected by this issue. The problem we have identified is not limited to MtGox, and affects all transactions where Bitcoins are being sent to a third party. We believe that the changes required for addressing this issue will be positive over the long term for the whole community. As a result we took the necessary action of suspending bitcoin withdrawals until this technical issue has been resolved. Addressing Transaction Malleability MtGox has detected unusual activity on its Bitcoin wallets and performed investigations during the past weeks. This confirmed the presence of transactions which need to be examined more closely. Non-technical Explanation: A bug in the bitcoin software makes it possible for someone to use the Bitcoin network to alter transaction details to make it seem like a sending of bitcoins to a bitcoin wallet did not occur when in fact it did occur. Since the transaction appears as if it has not proceeded correctly, the bitcoins may be resent. MtGox is working with the Bitcoin core development team and others to mitigate this issue. Technical Explanation: Bitcoin transactions are subject to a design issue that has been largely ignored, while known to at least a part of the Bitcoin core developers and mentioned on the BitcoinTalk forums. This defect, known as "transaction malleability" makes it possible for a third party to alter the hash of any freshly issued transaction without invalidating the signature, hence resulting in a similar transaction under a different hash. Of course only one of the two transactions can be validated. However, if the party who altered the transaction is fast enough, for example with a direct connection to different mining pools, or has even a small amount of mining power, it can easily cause the transaction hash alteration to be committed to the blockchain. The bitcoin api "sendtoaddress" broadly used to send bitcoins to a given bitcoin address will return a transaction hash as a way to track the transaction's insertion in the blockchain. Most wallet and exchange services will keep a record of this said hash in order to be able to respond to users should they inquire about their transaction. It is likely that these services will assume the transaction was not sent if it doesn't appear in the blockchain with the original hash and have currently no means to recognize the alternative transactions as theirs in an efficient way. This means that an individual could request bitcoins from an exchange or wallet service, alter the resulting transaction's hash before inclusion in the blockchain, then contact the issuing service while claiming the transaction did not proceed. If the alteration fails, the user can simply send the bitcoins back and try again until successful. We believe this can be addressed by using a different hash for transaction tracking purposes. While the network will continue to use the current hash for the purpose of inclusion in each block's Merkle Tree, the new hash's purpose will be to track a given transaction and can be computed and indexed by hashing the exact signed string via SHA256 (in the same way transactions are currently hashed). This new transaction hash will allow signing parties to keep track of any transaction they have signed and can easily be computed, even for past transactions. We have discussed this solution with the Bitcoin core developers and will allow Bitcoin withdrawals again once it has been approved and standardized. In the meantime, exchanges and wallet services - and any service sending coins directly to third parties - should be extremely careful with anyone claiming their transaction did not go through. Note that this will also affect any other crypto-currency using the same transaction scheme as Bitcoin. Conclusion To put things in perspective, it's important to remember that Bitcoin is a very new technology and still very much in its early stages. What MtGox and the Bitcoin community have experienced in the past year has been an incredible and exciting challenge, and there is still much to do to further improve. MtGox will resume bitcoin withdrawals to outside wallets once the issue outlined above has been properly addressed in a manner that will best serve our customers. More information on the status of this issue will be released as soon as possible. We thank you for taking the time to read this, and especially for your patience. Best Regards, MtGox Team
What's the fastest way to exchange Bitcoins to cash now?
Hi guys. I've been off bitcoin for couple months already. I decided on that step after the Mtgox brought down a lot of people, including myself. I still do have bitcoins which i kept locally, not as much as those on mtgox. However it's late to argue about that. I would like to sell some of those, but not on a site like Mtgox for sure. Is there anything instant? Like getting instant payment instead of waiting so long? I would accepts even a bit lower price to get that. I would also prefer Skrill over Paypal. I am also based in EU so euros got priority...
Dear MtGox Customers and Bitcoiners, As you are aware, the MtGox team has been working hard to address an issue with the way that bitcoin withdrawals are processed. By "bitcoin withdrawal" we are referring to transactions from a MtGox bitcoin wallet to an external bitcoin address. Bitcoin transactions to any MtGox bitcoin address, and currency withdrawals (Yen, Euro, etc) are not affected by this issue. The problem we have identified is limited to MtGox. As a result we took the necessary action of suspending bitcoin withdrawals until this technical issue has been resolved. Addressing Transaction Malleability MtGox has detected unusual activity on its Bitcoin wallets and performed investigations during the past weeks. This confirmed the presence of transactions which need to be examined more closely. Explanation: A bug in the MtGox's software makes it possible for someone to use the Bitcoin network to alter transaction details to make it seem like a sending of bitcoins to a bitcoin wallet did not occur when in fact it did occur. Since the transaction appears as if it has not proceeded correctly, the bitcoins may be resent. Conclusion All deposits are safe, there is just a small technical issue which should be fixed within the next 5 days. We offer our sincere apologies to our customers for any problems temporally suspending Bitcoin withdrawals may cause. MtGox will resume bitcoin withdrawals to outside wallets once the issue outlined above has been properly addressed in a manner that will best serve our customers. A daily update on the status of this issue will be released until the issue is fixed. We thank you for taking the time to read this, and especially for your patience. Best Regards, MtGox Team
What's coming: colored coins could allow P2P exchanges and value stability on the bitcoin network.
I see very often here people asking for P2P exchanges or open source P2P servers, but since there are many bitcoin newbies I think it's valuable to share with everyone a few innovations happening right now that could help bring those things. Colored coin is an innovation on "smart properties" the concept of taking a few of your satoshis and giving it some value that is bigger than the nominal value of bitcoins on them. Because all coins can be tracked to their origin, anyone can keep check of ownership of those coins. For example a bank can issue a bunch of promises saying "I promise I will give the owner of this satoshi an ounce of gold" and then sell those colored coins at however price other people are willing to pay. Or, for example, Bitpay could whenever someone asks to convert their bitcoin payments in dollars could instead of just adding it to it's internal database, give the owners colored coins that were worth bitpay credits, redeemable for a fixed amount of dollars. This is where P2P exchanges get in. Imagine that whenever you open an account and deposit money in Mt Gox, instead of that credit being stuck inside MtGox servers they gave you back in colored coins worth "MtGox Dollars". As long as you can find someone that trusts in MtGox, you can exchange those MtGox dollars for any amount of bitcoins you could agree on, just using your own bitcoin client. If someone is willing, he or she could also accept MtGox directly for a payment for a service, or exchange it for colored coins of other denominations, like BitInstant Euros, Silk Road Pounds Or Shady Pirate Gold. Thus along as you trust the issuer, you could never hold bitcoins, but hold any other currency you wish. You might not trust the value of bitcoin longterm but if you can still use cryptocurrency innovations to hold a diverse portfolio of gold, dollars, euros and bitcoins. Even if you don't trust completely the issuer, you can still use the system. Say you owned $100 worth of BitFloor credits in colored coins. Even if Bitfloor is shut down by it's corporate banks, if some other entity is willing to assume it's bill – say the completelly unrelated Bitfloor Cayman Islands Inc – they can accept that credit and exchange for something else. Or you can request that any "colored coin" is worth at least an x amount of satoshis – so if Shady Pirate Gold Corporation just disappears, you still have a minimum amount of bitcoins. If this sounds like reinventing fiat money, this is exactly what it is: a 21th century reinvention of 18th century non-governamental private banknotes. It might not be your cup of tea but those are very welcome innovations and could really be useful for everyone. How can you help?
If you're a bitcoin client developer, build colored coin support in your client.
If you host a bitcoin related service, try seeing how you can integrate colored coins on your project
If you own an account on any exchange or fiat money conversion service, write them and ask them for colored coin support
If you are a bitcoin holder, help with bitcoin bounties by chipping in for a colored coin related bounty
If you are just a bitcoin enthusiast: look for clients and services that support colored coins, and inform others of these when you see any discussion on the matter.
If you're neither of these (what are you doing in this subreddit??): check Ripple.com an alternative cryptocurrency that tries to solve the same problems of holding multiple currencies in a very different approach
Mark Karpeles, Chef der insolventen Börse MtGox, wurde in Tokio verhaftet. Vorgeworfen werden ihm Marktmanipulation und das Veruntreuen von Kundengeldern. Ein ehemaliger Mitarbeiter von ihm plaudert aus dem Nähkästchen – und enthüllt Zustände bei MtGox, die man fast nicht glauben . Ein riesiger globaler Elektrohändler akzeptiert Bitcoin, während bekannt wird, dass die Gox-Coins schon ... Während eines Kurshöhenfluges stoppt die Bitcoin-Börse MtGox Anfang Februar weltweit die Auszahlungen an seine Kunden, meldet hunderte Millionen Euro als gestohlen und dann Insolvenz an. Jetzt ... Bitcoin-Börse MtGox ist insolvent, halbe Milliarde Schaden. Die jüngste Nachricht wirbelt die Bitcoin-Welt kräftig durcheinander. MtGox, die bekannteste Börse für Bitcoins, scheint ihren ... Bitcoin-Community ächtet MtGox-Chef. Nach dem Höchststand bei rund 1000 Euro im November hatte sich der Bitcoin-Kurs zum Jahreswechsel bei etwa 600 Euro eingepegelt. Seit Anfang Februar fiel der ... Der Fall Mt.Gox hat gezeigt, dass der Bitcoin-Goldrausch ein unreguliertes Börsen-System förderte, das Betrügern Tür und Tor geöffnet hat. Die Börse hat dabei eine Geschichte erzählt, die so alt wie die Menschheit selbst ist: Einige wenige bereichern sich auf Kosten vieler. Es mag zynisch klingen, aber der Fall hat auch positive Effekte erzielt. Kunden sind sensibilisiert in Bezug auf ...
Größte Bitcoin-Handelsplattform Mt.Gox pleite - economy
Die größte Handelsplattform für die Digital-Währung Bitcoin, Mt.Gox, hat einen Insolvenzantrag gestellt. Mt.Gox habe Schulden von rund 46,6 Millionen Euro, hieß es laut der japanischen ... Enjoy the videos and music you love, upload original content, and share it all with friends, family, and the world on YouTube. Gebruikersvragen: * Wanneer komt de volgende munt? Waarom geen Ripple? * Is gebruik van privacy coin zoals Monero meteen verdacht? Nieuws: - MtGox claims update - Jack Dorsey neemt Bitcoin ... 3. Transferring 23.23 USD from MtGox to BTC-e via Bitinstant (1.49% fee). 4. Receiving 22.89 USD on BTC-e Bitcoin exchange. 5. Buying new Bitcoins for a price of 11.40 USD/BTC getting 2.0037 BTC ... De lo que se decida sobre los bitcoin en MtGox antes del 15 de octubre afectara o no el precio de bitcoin. Alternativa en DeFi OKEX: https://www.okex.com/joi...