The Mt.Gox Verification Queue: 14,180 Users!

I just received a report from a friend that the Mt.Gox verification queue, as of eight minutes ago, is now 14,180 users long.

Fourteen thousand, one hundred and eighty users! That's a lot of money about to flow into Bitcoin.

Six days ago the queue was reported to be over 8300, with approximately 1000 accounts being verified daily; that works out to 12,000 new accounts in the last week.

Update:

Why is there a requirement to verify an account? From Mt.Gox:

"If you plan to invest more than 50,000 USD or equivalent on the long term in bitcoins, we need to know about you. In this case please use our verification system to get your account verified first. 

Please also be advised that all deposits are subject to an ID check by our AML team and this process would take up to 1 business day.  First-timer depositors are requested to upload their copy of the official ID to facilitate this process (you will not have to be fully verified at this point if your deposit is lower than 50,000 USD)."

So, how many of these 14,180 users are planning to invest over $50,000? How much money is that in total? The implications are staggering.

Posted in: bullish,MtGox