Re: Wall Observer - MtGoxUSD wall movement tracker

Well, that sorta sucks. Looks like Liberty Reserve was shutdown today.

Costa Rican arrested in Spain for alleged financial crimes

Article seems a little iffy, but http://www.libertyreserve.com/ does appear to be down.

The obvious question now: what are LR users going to transact with instead?

And how many people had money sitting on LR. Seems like a fairly big deal. Without Dwolla, I'd imagine LR was a fairly big chunk of Gox deposits. Surprised no one is talking about this, they were down all day Friday. Maybe not that many people used LR.

Wow this is HUGE big shitz, LR is a gigantic washing machine with millions transiting, many exchange business that deals with LR also do bitcoin, like Aurumxchange. Expect big Losses due to this shutdown for whole digital currency community.

Well BTC is Monopoly now , heck i'm turning ubber bull, i'm holding btc for long, to hell with short term trading.

Well, the more these centralised money transfer things get shut down the better it is for Bitcoin. What we need long term is exchanges in every country that are properly licensed. I don't think it's a loss if we loose these quasi-money services like liberty reserve. Fiat->Bitcoin->Fiat->Bitcoin. Until there is only bitcoin left. :-)

I'm getting the impression from the level of creative input and discussion regarding p2p exchanges and fiat-to-digital methods that we are getting quite close to a combination of systems that could prove to be the silver bullet on that one. In particular are an idea from fellowtraveler being provisionally called BMOT and one proposed solution to the fiat -> digital fiat without trust problem even has a 10BTC bounty for anyone who can find fault with it! It is the brainchild of bytemaster to be found here, having come out of BTCLuke's hot Primer for a P2P Distributed Exchange thread.