Mtgox.com is the largest bitcoin exchange. It is estimated that 80% of all USD/BTC transactions occur through Mt. Gox (as it’s commonly known). In order to move large amounts of currency in and out of the exchange you need to get a verified account, which requires submitting photo identification. Two weeks ago the queue for verification was around 5,000 people. Last week it broke 10,000, and this week it is over 14,000 people.
Mt. Gox is continuously adding support staff to verify new accounts. This would appear to be a very bullish indicator for bitcoin, since most people holding a significant amount of bitcoins would already have a verified account. The Mt. Gox verification queue has officially reached ludicrous speed.
“They’ve gone to plaid!” – Barf, Space Balls
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