Silk Road forums

Discussion => Security => Topic started by: DanDanTheIceCreamMan on April 14, 2013, 04:02 pm

Title: Mt Gox Verification
Post by: DanDanTheIceCreamMan on April 14, 2013, 04:02 pm
Is Mt Gox making every single user verify their account with a photo ID? Or just some? I don't want to put money in there only to find out I have to wait a week to withdraw while my account if verified. Any help would be much appreciated.
Title: Re: Mt Gox Verification
Post by: SimplyTheBest1 on April 14, 2013, 04:31 pm
Be careful, they are likely for ask for verification.
Title: Re: Mt Gox Verification
Post by: SirBaxter on April 14, 2013, 11:33 pm
Is asking for verification a recent change? I just used mtgox a week ago and did not have to verify my id.
Title: Re: Mt Gox Verification
Post by: Intraday Cosmonaut on April 14, 2013, 11:47 pm
Is asking for verification a recent change? I just used mtgox a week ago and did not have to verify my id.

its optional to verify yes you have to provide photo id and yes there are currently 20k people in a backlog of new users attempting to establish verified accounts. you can trade and do everything else you need to without verifying. not recent by any means  ;D
Title: Re: Mt Gox Verification
Post by: DanDanTheIceCreamMan on April 15, 2013, 12:40 am
Is asking for verification a recent change? I just used mtgox a week ago and did not have to verify my id.

its optional to verify yes you have to provide photo id and yes there are currently 20k people in a backlog of new users attempting to establish verified accounts. you can trade and do everything else you need to without verifying. not recent by any means  ;D

Ok cool thanx for clearing that up. I guess it's back to Mt Gox after all.
Title: Re: Mt Gox Verification
Post by: kingghb on April 15, 2013, 01:19 am
You can easily use fake id, and utility bill
Title: Re: Mt Gox Verification
Post by: tango on April 15, 2013, 12:10 pm
Fuck yeah the process is slow.

Deposited coins in there without knowing about the change.
Cant get any of my coins out of there without verification, so verification it is.
Expect to get them out in about 15 days or so, since its about ~1000 a day i think...
Title: Re: Mt Gox Verification
Post by: lysergic25 on April 15, 2013, 05:50 pm
Verification is needed to increase your account withdraw/transfer limits and to withdraw any amount of money to a bank account.

See details :
https://support.mtgox.com/entries/20919111-AML-Account-Statuses
Title: Re: Mt Gox Verification
Post by: DanDanTheIceCreamMan on April 15, 2013, 07:57 pm
Verification is needed to increase your account withdraw/transfer limits and to withdraw any amount of money to a bank account.

See details :
https://support.mtgox.com/entries/20919111-AML-Account-Statuses

Thanx for the info lysergic25, that pretty much answered my question. As long as I don't withdraw over 100 coins a day, which I never will, then I am good. I usually only get a few hundred dollars worth of coins at a time so the level -0 status is fine for my SR needs.
Title: Re: Mt Gox Verification
Post by: lokiju on April 16, 2013, 04:22 am
I guess the good thing with MtGox is, because of 80% of BTC traded on there is that they will execute faster than other smaller exchanges. I could have saved nearly $1000 (at least $500) when the BTC was going down, also since I was so bullish (whoa boy!) even though I should have had money in my account a DAY (15-17 hrs. actually) I would have been able to buy at $177 instead of having to wait until the following morning to buy at $211. For a while there, I thought that I was pretty smart (pretty lucky to have some money that had finally been paid for work performed 2 years earlier) I put $3000 in and my BTC were worth about slightly over $8000. I thouight I was really lucky. Then it started downhill (clearly manipulated and would have been totally illegal in almost anything else but BTC or other digital currency) and I couldn't sell. I watched the price drop from $260 to $200 to 180 to $160 and I was trying to sell. Couldn't get any answer from BitFloor. So I watched my money go down at one point to about 50-60 each bitcoin and then it jumped  up to about $170-180 and I probably could have sold then. I could see the selling, and it seemed to have resistance at around that price. So the next day my computer was down, and I spent the day fixing it. Day after that it's about $100, and I'm thinking it's only going to go up from there. Today I can see it hasn't hit it's bottom yet. Of course the whole manipulation could be done all over again, that's probably why the buying (which started the price climbing) won't start to any extent. Today I finally sold at $75. I lost about $1000. I guess I was an idiot, not knowing what I was doing and not even thinking about possible manipulation. I think that this is going to hurt BTC until there is some defense against DDOS attacks (which greatly accellerated t he panic) MtGox just said a week or so ago that it was vunerable to DDOS attacks. Financial responsibility should have MADE them take the best practices against these DDOS attacks (although I'm not a tech guy, and don't know if it could be done-but I heard that SR and TOR can't be disturbed by DDOS?) I'm pretty cynical about the whole thing. Sorta like you do the crime, you do  the time, and I didn't know shit about this type of thing. $1000 isn't all that much, I can make myself feel a lot better just by looking at people at the freeway offramps with coffee cans and signs asking for money (and always 'God Bless')
Like I said I'm not a tech guy (other than fooling around with my computer and (old) auto and motorcycle repair, but it seems that BTC hasn't hit it's bottom. And I'm not anxious to buy in again, the DDOS attacks could happen again. SOMEBODY made some serious money, maybe millions, and a LOT of people took a HAIRCUT.
And I guess the way my long comment ties in with MtGox is that it is probably better at executing trades, since 80% of BTC is done there. I cynically think they could have had some protection, and suspect that maybe somebody there probably made some money. I really dislike dealing with companies that are so eager to gain legitimacy in governments eyes (US in  this case) that they could care less what concessions they make that keeps them in the money. Maybe it's just my 'jaundiced' eyes. But maybe I could have saved money if my money was at MtGox instead of BitFloor (which performed great for me until the day that they got 'busy')