Dwolla sued by former Bitcoin exchange, issues statement ...

Dwolla has released a statement responding to the $2 million lawsuit filed by the Bitcoin exchange TradeHill

Dwolla has released a statement responding to the $2 million lawsuit filed by the Bitcoin exchange TradeHill submitted by realhuman to Bitcoin [link] [comments]

MtGox Theory #12489: How They Lost 744,000 Bitcoins

They never actually had them.
MtGox was never really that profitable and in fact they bleed money operating. They could however keep running as long as cash deposits exceeded cash withdrawals. They survived on the cash in rotation. Essentially a ponzi scheme.
Then came CoinLab's lawsuit followed by US seizure of their Dwolla and Wells Fargo account last year. MtGox literally hit a USD cash flow brick wall.
Mark made the decision, under the stress of running a largely insolvent exchange, to sell Bitcoins that actually did not exist. Because the deficit is so large, they may have been doing this for a long time, but then recently had to ramp sale of these artificial coins to meet their USD obligations.
submitted by dstanchfield to Bitcoin [link] [comments]

New Rule: Mark Karpeles has to drop the mask and admit he's been working for the banks all along.

The old adage is to never assign malice to what can be successfully explained by stupidity or incompetence, but sometimes if it walks like a duck and quacks... well.
Going back to June of 2011, MtGox has had a stellar record of pretty consistently screwing up, dropping the ball, taking the wrong turn and then always blaming someone else. The hack, the trading engine lag, the regulatory issues, the coinlab lawsuit, the dwolla issues, the USD withdrawal issues and now, finally, the "BTC Malleability Issue".
Every time one of these things happen, MtGox takes a hit to its reputation, but so does Bitcoin.
It is remarkable how the malleability issue only seems to have affected MtGox (the fourth or fifth exchange by volume) and not Bitstamp, BTC-e, BTC China, or the smaller exchanges.
It is absolutely unreal how the malleability issue has been used by some "unknown parties" to perfectly emulate what would happen if MtGox was, in fact, insolvent... like as a consequence of their previous screw-ups.
What will happen next? Bitcoin will survive, as it has in the past, and will grow IN SPITE of, and not because of MtGox. This is because Bitcoin, unlike MtGox, continues to be a really, really good idea.
And maybe, just maybe, Karpeles will end up working for JP Morgan or something...
submitted by Piper67 to Bitcoin [link] [comments]

Digital Dollar Whitepaper! Binance will influence CMC rankings? CWS loses another lawsuit The Twelve Billion Dollar Ripple Lawsuit Saga Deepens  by BTC News JP Morgan Defeated By Bitcoin, Settles Crypto Lawsuit for $2.5M - Digital Dollar Whitepaper $300 Million Dollar Investor Lawsuit against BitMex BITCOIN NEWS - MORTGAGE CHANGES IN AMERICA - ONECOIN LAWSUIT - IMMUNITY PASSPORT

Two Expert Witnesses Testify in the Billion-Dollar Bitcoin Lawsuit. Kleiman v. Wright, the high profile court case in West Palm Beach, Florida has had a day filled with expert witness testimony from both sides of the case. Wright is being sued by the estate representing the now deceased David Kleiman. According to the lawsuit, the plaintiffs believe self-proclaimed Bitcoin inventor Craig ... Dwolla sued by former Bitcoin exchange, issues statement. A rocky relationship that we wrote about July has reemerged today with news that TradeHill, a former online Bitcoin exchange based in San Francisco and Chile, on Monday filed a federal lawsuit against Dwolla, an online cash transfer startup based in Des Moines. The lawsuit lists nine complaints, including false advertising, breach of ... On March 17, a court filing shows that the self-professed Bitcoin inventor, Craig Wright has been ordered by the judge to pay $165,500 in attorney fees. Dwolla Being Sued by Bitcoiners for $2 M. The Iowa payments startup—yeah, the one that just raised $5 million led by Union Square Ventures—has been hit with its first lawsuit. Dwolla Calls Bitcoin Exchange Suit "Specious" By Quittner, Jeremy. Read preview. Article excerpt. Byline: Jeremy Quittner . Person-to-person payments provider Dwolla Corp. responded late Tuesday to a lawsuit filed by the Bitcoin exchange TradeHill, saying allegations that it put TradeHill out of business were "specious" and that the suit is little more than an attempt to generate publicity ...

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Digital Dollar Whitepaper! Binance will influence CMC rankings? CWS loses another lawsuit

This episode I analyze the Bitcoin market and talk about the new mortgage changes coming to the United States, Onecoin lawsuit, Immunity passports and the Blockdown conference. Interested in being ... Tune in and find out the latest Bitcoin news and the latest crypto news from today! Sunny Decree Lawsuit Video: https://www.youtube.com/watch?v=gw4kgPv5874 ... Digital Dollar Whitepaper! Binance will influence CMC rankings? CWS loses another lawsuit ----- My other channels and subscribe! https://www.y... In this episode I discuss the Google, and Facebook Cryptocurrency lawsuit, and a German research paper that . uncovered child porn on the blockchain. BitMex is currently being sued by Frank Amato and RGB Coin Ltd. under the pretense of being a seed investor of $30,000 and to be awarded a stake in the company / equity. The current valuation of ...