Is there any bitcoin groups in the greater Seattle area that occasionally meets up to discuss, introduce, and host workshops?

I'm not a pro so please use your best judgement. I have 3 top exchanges on my list.

Itbit is my top choice but it's a shame they do not allow US traders. I like Itbit because it's based out of Singapore. Singapore is one of the most strict and safest countries in the world.

Coinbase is second because I think they are doing there best to prove to the world that there is a happy medium between centralized structured institutions and dark shady ally deals. At the moment it seems like they have government approval.

BtcChina was and still on my list. I like China because they have the volume and a distinguished grey market. Because everything is still new and the ongoing issues with Chinese money. I would trade here unless you are a Chinese Nationalist.

All of the other exchanges have to many red flags for me. If I must, I will do local trades within my community in person.

This is my opinion on the subject. I'm not some millionaire philanthropist so please use your best judgement in this matter. Remember that volatility risk and any/all the other risks when investing. Good luck.

It took me 2weeks to get verified. I'm in the US and after going through all the hoops with most of the foreign exchanges, I conduct most of my trading with Coinbase because it seems like every exchange is starting to follow suit.

Has any done any trading at Itbit?
It looks really good but I'm in the
US so I can't say...

Yes this is the official announcement but all the details publicized were reported on in the news since nov 20 to dec 3 and now today the 5th.


Gordon G. Chang, Contributor
I write primarily on China, Asia, and nuclear proliferation.

OP/ED | 11/24/2013 @ 6:42PM |29,019 views
A China Triangle: Bitcoin, Baidu And Beijing

And if there were any doubts that the central government favored Bitcoin, Yi Gang on Wednesday erased them.  The deputy governor of the People’s Bank of China, the central bank, said although Beijing would not recognize Bitcoin as a medium of exchange soon, people were free to participate in the Bitcoin market.
Yi’s words were significant because Chinese law actually forbids acquiring and using Bitcoins.  The Ministry of Commerce and Ministry of Culture in 2009 jointly issued rules that outlawed the use of virtual currency in the real economy, specifically the exchange of such currency for goods and services, or the exchange of it for renminbi.  The ban was imposed in response to the widespread acceptance of QQ, the virtual currency of Tencent, the Chinese social media giant.  QQ, incredibly, had grown to about 13% of the Chinese cash economy.  People traded QQ in public areas, and it was accepted in shops.  Tencent itself brought QQ back under control “overnight” because Beijing ordered it to do so.  The Bitcoin algorithm was released online just months after Tencent was forced to rein in its virtual currency.

No worries. Thanks for the link.
As a decentralized currency in a centralized world, this is fine, this is great because centralized governments are allowing Bitcoins to be integrated into the grey market.

This is so funny. Nothing has changed lol. Everything is still inthe grey and it fine. If they want cheaper coins, sure why not I like buying cheap coins

Hahaha this isn't breaking news. This was announced a few days ago. They won't recognize it as a currency but you are allowed to be traded in the grey, which means at your own risk and therefore allowing bitcoin to be implemented the way it's creators intended... For now lol

Can you translate your findings for the rest of the group

This is old news. They also said that bitcoin is still allowed to be traded in the grey market.

Anyone know anything about Itbit.com and why they're excluding US residents?

MtGox use Mizuho Bank to process all international wire transfers. The US Department of Treasury has been scrutinizing Mizuho Banks grey transactions and have applied pressure. In fear of being blacklisted by the US they be in compliance. If you've noticed, it's mostly US transactions that are being delayed.

MtGox use Mizuho Bank to process all international wire transfers. The US Treasury Department has been scrutinizing their grey accounts and lately have applied more pressure. Due to the pressure they must be in compliance for Mizuho Bank to conduct business with them.

When dealing with any foreign exchange, you must remember that they have to adhere to AML and FINCEN rules and regulations. Just look at their verification and process time for foreigners. If you want to pump and dump I suggest you stay local. Find an exchange that keeps its servers in/near your country.  I'm trading at Coinbase, MtGox, and BtcChina. They all run at their own speed and I have to jump through a lot of hoops but I'm no screwing myself by putting all my eggs in one basket.

Sorry I may be reaching here. I think AML policies are no secrets. You can google it. A nations economy is sensitive to the amount of its currency entering and leaving its boarders. It's a slow and quiet battle but there is such thing as economic warfare which has been going on for decades.

I'm a newb. I could be completely wrong about my ideas. I believe that MtGox is under the scope right now due to US Authorities going after financial institutions that are possibly doing business with organized crime.

Adam Szubin, director of the U.S. Department of the Treasury’s Office of Foreign Assets Control. Acting under the U.S. executive order, ... Szubin says. Targeting individual gang members won’t result in big seizures, because “there aren’t just large sitting accounts out there with the name” on them, so the department is working to blacklist companies and individuals that hold, move, or launder funds for the syndicates, he says.

http://mobile.businessweek.com/articles/2013-11-07/japan-attacks-yakuza-crime-syndicates-via-banking-system

So I think MtGox/Japan is doing everything to comply so they can stay afloat.

Yes
Yes
Of coarse that's what it's all about.

Sooo no one has visited the Chinese exchange yet?

LoL don't you?
They're going to be the largest exchange.
No more running out of Bitcoins...
No more troubles with dealing with stupid lawmakers...

Has anyone successfully traded in Chinese exchange?

I am having troubles locating/accessing/opening an account.

Some help would be wonderful thanks.

Since Apple's removal of Coinbase's app from their App Store. What will happen to those that were able to download and use Coinbase app before it was taken off?
Will the app still be supported?
Will the app be susceptible to vulnerabilities?
Should iOS users abandon Coinbase app?

I had contacted Coinbase but it seems they are preoccupied.