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Old 05-14-2013, 04:24 PM   #1
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Dept. Of Homeland Security Freezes Accounts Between Dwolla And Bitcoin Exchange Mt. Gox

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In the first governmental action against bitcoins, the Department of Homeland Security served the Dwolla mobile payment service with a court order requiring it to immediately cease all account activities with the Mt. Gox Bitcoin trading platform. Dwolla has complied with this order.

The news was first reported by Betabeat citing an email that OkCupid co-founder Chris Coyne received from the DHS and posted to Twitter. Other users have subsequently reported receiving similar communications from the federal agency and having difficulty accessing funds transferred to Mt. Gox from Dwolla in the last 24 hours.

There are certainly more questions than answers at this stage. We are prompted to wonder whether this is this the first of a series of governmental assaults on the exchanges? That?s what they?d target if they want to put the kibosh on bitcoin. Or, is this a case where DHS is investigating some individual or organization who may have used bitcoins, via Dwolla, for some potentially nefarious or terroristic reasons?

Members of the PandoDaily team have spoken to sources close to the bitcoin ecosystem and have been hearing that it?s likely the former.
You can read the rest of it here - http://pandodaily.com/2013/05/14/dep...xchange-mt-gox

Oh dear oh dear!
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Old 05-14-2013, 04:29 PM   #2
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bc are stronger than ever :P

where is that annoying bc support fucker now?
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Old 05-14-2013, 04:41 PM   #3
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this sounds like pretty bad news... surprising the price isn't plummeting yet...
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Old 05-14-2013, 04:43 PM   #4
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dirty franck left the world
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Old 05-14-2013, 05:08 PM   #5
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bc are stronger than ever :P

where is that annoying bc support fucker now?
It's a real shame no one explained how this would start happening...........

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Franck I'm going to write one post to school you since clearly most of this will be over your ignorant little french head.

This is incorrect, all America has to do is ban the Bitcoin Exchanges and it's 10 times more difficult to get fiat into Bitcoin in the west. This could happen through

1) Regulation
2) US applying pressure on Mt Gox bank to cease business

"That'll never happen you fucking mental retard idiot" says Franck,

Oh wait it has ALREADY happened to Mt Gox, they've had their Barclays bank account (UK) and their Polish bank account (EU) frozen.

In American Bitfloor got shutdown by their bank, Bitcoin-24 was shut down by their Polish bank, Canada shuts down Canadian Bitcoins without any reason. Getting the picture yet Franck?????

If Mt Gox is shutdown in the next 2 months I beg to differ, the price will crash.

NOW to my main point which is clearly over your head and if you weren't such an obnoxious French cunt you would have asked me about my opinion on why Bitcoin could be in serious trouble due to China's recent support of it.

China is in a currency war with the United States, China wants to remove the US currencies reserve status, currency of roughly 60% of global bank and sovereign foreign currency reserves, as well as the de facto medium of exchange for major commodity transactions in $.

For the last 5 years China has been taking agressive steps to undermine the $ - Supporting Bitcoin is just the lastest step in trying to undermine the $.

So you see if China supports Bitcoin in it's latest attempt to undermine the US dollar then it's only a matter of time before American decides to interviene and do something about it. IE CLOSE THE BITCOIN EXCHANGES and if you think that won't have an INCREDIBLY negative effect on the price of Bitcoins then you're a retard!
https://gfy.com/showpost.php?p=19616416&postcount=26

TBH Seeandsee this is bad news for Mt Gox more than anything atm, will be really interesting to see where the price goes tomorrow, already down from $120 to $110.

I'm still gonna buy back in if there is a significant drop tomorrow but I think the next month could be incredibly volatile for Bitcoin if Dwolla is the start of an attack on the money transmitting services.

I said this last week, if Mt Gox had ANY sense at all they'd be speaking to Bank Of China or any big Chinese bank about moving all their funds to China. If Gox get their Japanese bank accounts frozen the price of Bitcoin will crash below $10
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Old 05-14-2013, 05:14 PM   #6
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this sounds like pretty bad news... surprising the price isn't plummeting yet...
106 and dropping!

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dirty franck left the world
Some people said mean things about the Bitcoins and made Franck sad
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Old 05-14-2013, 05:15 PM   #7
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im making money as we speak from all the panic this is causing...love it.
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Old 05-14-2013, 05:16 PM   #8
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im making money as we speak from all the panic this is causing...love it.
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Old 05-14-2013, 05:19 PM   #9
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its about time
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Old 05-14-2013, 05:33 PM   #10
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What have I been telling everyone since this shit started?
Governments WILL NOT .. absolutely WILL NOT .. allow this shit.

Can they shut BC down? No. Can they make it useless? Yes.

They WILL find a way to put a stop to this. You and I think of money in amounts. To them it is a TOOL for CONTROL. They're not going to LET you or them or them or anyone CHANGE THAT.
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Old 05-14-2013, 05:34 PM   #11
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hope we see it touch $100, then mass panic and big off sell, buy back in @ $75 and sell in a week when its back at $115
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Old 05-14-2013, 05:36 PM   #12
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hope we see it touch $100, then mass panic and big off sell, buy back in @ $75 and sell in a week when its back at $115
i thought you were making money as we speak?
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Old 05-14-2013, 05:46 PM   #13
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What have I been telling everyone since this shit started?
Governments WILL NOT .. absolutely WILL NOT .. allow this shit.

Can they shut BC down? No. Can they make it useless? Yes.

They WILL find a way to put a stop to this. You and I think of money in amounts. To them it is a TOOL for CONTROL. They're not going to LET you or them or them or anyone CHANGE THAT.
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Old 05-14-2013, 05:49 PM   #14
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sure seems like a very 1/2 assed effort to knock out a billion dollar gig.

serving dwolla for transacting with gox? pfft.

btc will ultimately not succeed, but crypto currency will

kill btc, ltc is next, feather coins, hell amazon just launched their coins yesterday.
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Old 05-14-2013, 06:05 PM   #15
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i thought you were making money as we speak?
i am, i dumped a shitload of coins already at a higher price.
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Old 05-14-2013, 06:08 PM   #16
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hope we see it touch $100, then mass panic and big off sell, buy back in @ $75 and sell in a week when its back at $115
I really liked your idea for profiting from Bitcoin
You are a thinking man
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Old 05-14-2013, 06:08 PM   #17
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NiXXiN lost all credibility with me after this thread.

https://gfy.com/showthread.php?t=1104299
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Old 05-14-2013, 06:16 PM   #18
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^ I forgot that classic. Funny how Bitcoin fanboys never lose any money. Bitcoins drop in value all the time, but I don't think I've ever seen anyone with Bitcoins say they lost money. It's miraculous.
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Old 05-14-2013, 06:21 PM   #19
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Bitcoin and the word investment should never be used in the same sentence.
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Old 05-14-2013, 06:28 PM   #20
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One thing that never stops to amaze me it how many people (especially here) are so happy about any low blow cryptocurrencies have to take. Is it a religious thing? Are you that masochistic that you are looking forward to get anally raped by banksters again and again?

Only got one BTC myself and a little collection of different alt coins, but i would love to see cryptocurrencies prevail.
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Old 05-14-2013, 06:31 PM   #21
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What have I been telling everyone since this shit started?
Governments WILL NOT .. absolutely WILL NOT .. allow this shit.

Can they shut BC down? No. Can they make it useless? Yes.

They WILL find a way to put a stop to this. You and I think of money in amounts. To them it is a TOOL for CONTROL. They're not going to LET you or them or them or anyone CHANGE THAT.
Sure many will not like it, but there will be places in the world that are safe havens for Bitcoins.
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Old 05-14-2013, 06:32 PM   #22
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This is horrible news for Franck and his 1 bitcoin.
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Old 05-14-2013, 06:42 PM   #23
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^ I forgot that classic. Funny how Bitcoin fanboys never lose any money. Bitcoins drop in value all the time, but I don't think I've ever seen anyone with Bitcoins say they lost money. It's miraculous.
heh if only i told you guys all the stupid shit i have done, i once lost 7k on a buy/sell error on my part, i thought i was making a low buy order but it was a sell and when i tried to buy back in it was too late.
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Old 05-14-2013, 07:01 PM   #24
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What have I been telling everyone since this shit started?
Governments WILL NOT .. absolutely WILL NOT .. allow this shit.

Can they shut BC down? No. Can they make it useless? Yes.

They WILL find a way to put a stop to this. You and I think of money in amounts. To them it is a TOOL for CONTROL. They're not going to LET you or them or them or anyone CHANGE THAT.
The truth is I would put my money in bitcoin before I put it into those fucking worthless pink sheet scams you're always posting about.
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Old 05-14-2013, 09:43 PM   #25
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LOL... Where is Dirty-Ugly-Frankenstein?

Did he get a haircut finally? Or still using that parted in the middle hairstyle?
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Old 05-15-2013, 02:38 AM   #26
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Bring it on ladies, Bitcoin is antifragile..

"Some things benefit from shocks; they thrive and grow when exposed to volatility, randomness, disorder, and stressors and love adventure, risk, and uncertainty. Yet, in spite of the ubiquity of the phenomenon, there is no word for the exact opposite of fragile. Let us call it antifragile. Antifragility is beyond resilience or robustness. The resilient resists shocks and stays the same; the antifragile gets better."

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Old 05-15-2013, 05:12 AM   #27
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sure seems like a very 1/2 assed effort to knock out a billion dollar gig.

serving dwolla for transacting with gox? pfft.

btc will ultimately not succeed, but crypto currency will

kill btc, ltc is next, feather coins, hell amazon just launched their coins yesterday.
Amazon's virtual currency looks kinda lame. And like the article below pointed out, similar ventures in the past, Microsoft Points and Facebook Credits failed. Amazon is only offering bulk purchases/discounts of Amazon Coins. The currency can't be mined. And right now it can only be used to purchase Kindle Fire apps, games and app add-ons.

http://www.theverge.com/2013/5/13/43...-fire-500-free

And the customer reviews of Amazon Coins are pretty harsh:

http://amzn.to/19soioi

Last edited by TrashyGirl; 05-15-2013 at 05:16 AM.. Reason: ...
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Old 05-15-2013, 06:37 AM   #28
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Amazon's virtual currency looks kinda lame. And like the article below pointed out, similar ventures in the past, Microsoft Points and Facebook Credits failed. Amazon is only offering bulk purchases/discounts of Amazon Coins. The currency can't be mined. And right now it can only be used to purchase Kindle Fire apps, games and app add-ons.

http://www.theverge.com/2013/5/13/43...-fire-500-free

And the customer reviews of Amazon Coins are pretty harsh:

http://amzn.to/19soioi
so what?

amazon coins are a crypto currency, period.

i added the fact they launched their cc when they did because it's timely with this news that the dhs is going after another cc.


it doesn't matter if the all-mighty facebook tried something or the m$, whoopie.

none of that is happening NOW. none of that added up to fincen regulations, none of that added up to dhs pulling shit.

none of that has anything to do with the fact that that dhs went after dwolla this week. now.
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Old 05-15-2013, 06:56 AM   #29
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^ I forgot that classic. Funny how Bitcoin fanboys never lose any money. Bitcoins drop in value all the time, but I don't think I've ever seen anyone with Bitcoins say they lost money. It's miraculous.
That's because when you mine bitcoins you make profit no matter what price you sell them at since you didn't pay for them in the first place,
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Old 05-15-2013, 07:02 AM   #30
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You can read the rest of it here - http://pandodaily.com/2013/05/14/dep...xchange-mt-gox

Oh dear oh dear!
I don't think "freezing accounts" means what you think it means. Preventing transactions to mtgox is not an account freeze. I'm surprised Dwolla lasted as long as it did (they had a lot of issues keeping up with the demand of mtgox a couple years ago), but at least there's literally 10 or more other methods of transferring funds to and from bitcoin exchanges.
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Old 05-15-2013, 07:58 AM   #31
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It seems not to fall from bad news anymore:




People are used to bad news about bitcoin vs govt and banks, in fact bitcoin fans are anti govt and anti banks and it is good PR that govt and banks try to shut down it.

It is just matter, at some point govt and banks it will really shut down all the exchangers, not just press, at that time if people can't buy or sell bitcoins, I wonder, perhaps price keeps the same, just with small volume.
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Old 05-15-2013, 08:10 AM   #32
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so what?

amazon coins are a crypto currency, period.

i added the fact they launched their cc when they did because it's timely with this news that the dhs is going after another cc.


it doesn't matter if the all-mighty facebook tried something or the m$, whoopie.

none of that is happening NOW. none of that added up to fincen regulations, none of that added up to dhs pulling shit.

none of that has anything to do with the fact that that dhs went after dwolla this week. now.
Why do you think Amazon Coins are a crypto currency? What got you that idea? None of the articles say it is, the Amazon PR does not say it is, it is not stored in a wallet or such. It is simply stored in the Amazon local DB with all your other information. This is simply a way to pre-pay buying stuff and give discounts for doing so. This is it. Has nothing to do with a crypto currency, at least not right now.
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Old 05-15-2013, 08:18 AM   #33
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That feel when dont sell before the crash, they go back up, and then you sell...and they crash again. You cant have super faith in this currency but there is without a doubt money to be made. Will be interesting to see the outcome
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Old 05-15-2013, 08:23 AM   #34
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Why do you think Amazon Coins are a crypto currency? What got you that idea? None of the articles say it is, the Amazon PR does not say it is, it is not stored in a wallet or such. It is simply stored in the Amazon local DB with all your other information. This is simply a way to pre-pay buying stuff and give discounts for doing so. This is it. Has nothing to do with a crypto currency, at least not right now.
crypto currency is electronic money that acts as alternative currency not produced by government-endorsed central banks nor necessarily backed by national currency.

that's not my definition.

First Bitcoin, Now Amazon Coins ? Amazon Releases New Virtual Currency
http://www.thebitcoinchannel.com/archives/6357

Like its other platforms, Amazon is taking the long view with its Coins virtual currency
http://pandodaily.com/2013/05/13/lik...tual-currency/



it's a currency.

but you too missed my point in including that, which was that while the dhs hit dwolla over virtual currencies, there is an increasing prevalance and a greater acceptance of virtual/digital currencies and amazon coins being launched at the same time proves that.


hope that is more clear.
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Old 05-15-2013, 08:27 AM   #35
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oh, amazon also fully plans to extend amazon coins to purchases beyond kindle. this is just a rollout of the currency.
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Old 05-15-2013, 08:35 AM   #36
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crypto currency is electronic money that acts as alternative currency not produced by government-endorsed central banks nor necessarily backed by national currency.

that's not my definition.

First Bitcoin, Now Amazon Coins – Amazon Releases New Virtual Currency
http://www.thebitcoinchannel.com/archives/6357

Like its other platforms, Amazon is taking the long view with its Coins virtual currency
http://pandodaily.com/2013/05/13/lik...tual-currency/



it's a currency.

but you too missed my point in including that, which was that while the dhs hit dwolla over virtual currencies, there is an increasing prevalance and a greater acceptance of virtual/digital currencies and amazon coins being launched at the same time proves that.


hope that is more clear.
you are thinking of "virtual" currency, "crypto" implies that it's based on cryptography, amazon coins are not based on cryptography... so amazon coins is a virtual currency, but not a crypto currency...
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Old 05-15-2013, 08:39 AM   #37
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you are thinking of "virtual" currency, "crypto" implies that it's based on cryptography, amazon coins are not based on cryptography...
but that is exactly what i am trying to communicate. digital currencies are becoming ubiquitous, it doesn't matter if they are virtual, digital, crypto in orgin/behind the scenes software, people don't care about that, just like they/we don't care about understanding how a debit card works, just send me my shit i bought.

exchange the cyrpto part with digital or virtual or flivver, it doesn't matter how it is created, or mined or not mined.
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Old 05-15-2013, 08:42 AM   #38
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here's another way to look at it, a big chink in the armor of btc is the fact it has to be mined. so when btc craps out, and it will, imo, the next digital currency will learn from that and more than likely, not even be mined.
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Old 05-15-2013, 09:22 AM   #39
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That's because when you mine bitcoins you make profit no matter what price you sell them at since you didn't pay for them in the first place,
That assumption is false. Mining bitcoins cost you money. You need to buy computer hardware. You need to pay for power. Unless you do the math it is just as easy to lose money as it is to make money.
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Old 05-15-2013, 10:08 AM   #40
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^ Don't confuse him. Bitcoin fanboys don't handle facts and reality very well.
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Old 05-15-2013, 10:35 AM   #41
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i cant help to laugh at these idiotic ideas to create crypto currencies, it is completely nuts. it is all an illusion, if you buy into that you are some serious dumbass (unless you are the clever developer who gets other dumb-asses to invest in your scam, then you are the opposite).
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Old 05-15-2013, 10:38 AM   #42
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there will be other exchanges , they cant control btc but they will try to control the exchanges using banks in us.

just a thought, btw i would still buy btc if it hits 5 bucks :P
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Old 05-15-2013, 10:43 AM   #43
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bc are stronger than ever :P

where is that annoying bc support fucker now?

strong as ever? it was 2 dollars 4 montsh ago. Cash while you can.
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Old 05-15-2013, 10:47 AM   #44
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i cant help to laugh at these idiotic ideas to create crypto currencies, it is completely nuts. it is all an illusion, if you buy into that you are some serious dumbass (unless you are the clever developer who gets other dumb-asses to invest in your scam, then you are the opposite).
Wow even after 4 years there are still people like this.

Meanwhile some porn sites are actually taking advantage.

http://pornforcoin.com/
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Old 05-15-2013, 11:25 AM   #45
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More here...

http://www.motherjones.com/mojo/2013...rce=feedburner
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Old 05-15-2013, 12:25 PM   #46
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That assumption is false. Mining bitcoins cost you money. You need to buy computer hardware. You need to pay for power. Unless you do the math it is just as easy to lose money as it is to make money.
I already had a computer with decent hardware, I'd assume everyone in the video editing business does? I live in the city where electricity is included in rent. My assumption is fact. Albeit only for my circumstances and most others.

The only way it's possible for me to lose money is if my graphics card burns out, but I have lifetime warranty on it, so I'd only lose a few bucks to shipping.
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Old 05-15-2013, 12:44 PM   #47
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Just noticed this thread. Noticed Mt Gox is getting a 501.

First run on a virtual exchange or are they taking virtual currency bank holiday?
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Old 05-15-2013, 12:53 PM   #48
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mt gox done got goxxed, they need to give up. seriously, not to mention the $75 million lawsuit they have to sort out and that one looks like gox goxxed themselves.
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Old 05-15-2013, 01:13 PM   #49
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Old 05-15-2013, 01:46 PM   #50
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I don't think "freezing accounts" means what you think it means. Preventing transactions to mtgox is not an account freeze. I'm surprised Dwolla lasted as long as it did (they had a lot of issues keeping up with the demand of mtgox a couple years ago), but at least there's literally 10 or more other methods of transferring funds to and from bitcoin exchanges.
Well according to the search warrant, Mutum Sigillum's account was seized because Mark Karpeles didn't register the company properly as an MSB (Money Service Business)

Can't say I'm surprised!

From what I've read, the reason why the price hasn't crashed is because people have been taking their fiat out of Mt Gox and converting it to Bitcoins and transferring them away from Mt Gox.

But lets be honest who the fuck knows

I expected the price to be sitting at around $75 - $80 today and I was completely wrong
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