Bitcoin Forum

First to mods(please move this to correct forum if i am wrong about its placement)

I logged into circle today in order to cash out some bitcoins i had sent to my account last night and found out that circle does not buy or sell bitcoins anymore, can someone please explain what is happening with circle(had no warning about this and I am worried where I am going to be able to buy and sell bitcoin so easily)?

apparently they have made some changes around their service (i am not using circle and just reporting what i have heard in the news) they no longer support buying and selling of bitcoin and they refer you to coinbase!!

read it more on circle itself (the article is from today):
https://support.circle.com/hc/en-us/articles/217972003

Thats complete BS...

this really, really sucks. they were by far the best service. they certainly didn't hang around when it came to abandoning bitcoin. it don't feel very surprising to me. i'm not sure any of the existing bitcoin companies will still be around in 5-10 years.

They are in the business of moving money around the world, even though bitcoin is the best tool for that its still a fraction of global money moving.  Im guessing they done some math and worked out its better for overall profit to just do fiat for time being.

Thank you Circle, goodbye.

It was good while it lasted. I'm deleting my account.

Sad to see it go. Maybe this well get more people on bitsquare now

If they don't want bitcoin users i will delete my account too.

I think there's a misunderstanding. They aren't removing themselves from Bitcoin, they are just not offering exchange uses anymore. They are going to run a sidechain for settling payments. So it's not about being against BTC, they just won't be taking part in the actual exchange.

Coinbase can be your savior. Coinbase is still working. I wonder why circle doesnt buy and sell bitcoin anymore. Its gonna be their worst decission because most of circle users are on bitcoin. Other than coinbase, there are more sites where you can buy bitcoins. Paxful and localbitcoin are good choice too.

Coinbase has become a horrible place. They count your deposits as purchases and withdrawals as sales. So let's say you transfer 1 BTC to Coinbase when BTC is $700, then send it to your other wallet when it's at $900, they count that as a short-term capital gain of $200 (and are reporting to the IRS if they request information), despite you never having made a sale.

So another good Bitcoin exchange service is gone. I wonder what could be the reason. The profit was probably good, maybe it's because some regulations. That could be the problem for many bitcoin related services in the future. I suppose many users will now switch to Coinbase and others, so good for them.

gotta be compliance costs. i hate to think how much it would cost to please everyone and it's not as if there are tens of millions of bitcoin customers. coinbase may be assholes, i dunno as i've never had dealings with them, but you gotta respect the commitment at least.

I'm thinking they got out of the game before a request came through similar to Coinbase and Bitcoin was most likely not producing profits for Circle.  Although, I don't think that puts them in the clear for not getting a future request.

Not exactly sure why the CEO had to take an anti-bitcoin approach with the announcement, but I'd suspect it has a lot to do with their future projects and investments being targeted towards other things.

circle.com not popular about service bitcoin exchanger
iam only use bitcoin exchanger is popular , reputable trust and much client use there service
if you get problem service, i think is good you send support ticket
or is very good write in annocument circle.com in bitcointalk

i have sent them my id and selfie i have never used for anything useful.

goodbye morons

Well i think you must delete your account on there, because i have heard that circle is not support for buy and sell bitcoins on their service, so for users of bitcoins this service is not suitable.

Today is the end of circle, please check the news
Circle, the financial service company blames the slow rate of Bitcoin Core development for its decision to stop offering Bitcoin exchange services.
http://www.newsbtc.com/2016/12/08/circle-bitcoin-development-issue/

Cirlce is crap anyway and they also have no idea what they are talking about. Those are rubbish reasons I do not buy them at all. Plenty people use bitcoin for a company their size to profit from. There is something else going on.

This might not be unconnected with the statement by its CEO about two weeks ago. His opinion was that bitcoin won't see beyond next ten years, so I suppose he is taking a cautious move and putting his money where his mouth is. At any rate, I think the opportunity to convert bitcoin to fiat currencies is still there for anyone to use.

...

I liked and used circle.com for awhile.  What I liked was the relatively easy service of buying BTC from them.

Then, perhaps 6 weeks ago (?), they started asking me for more verification, etc.  So, I left.

Pity there are so few easy ways to buy BTC.  localbitcoins is a hassle for me, and BTC ATMS are not very convenient as well as expensive (9% or higher preimums over "spot" in my city).

And the statement has discussed by CEO was happening right now. Erasing the bitcoin from his service and totally they are feeling unsatisfying with that.

Forget circle, and he didn't mean something without bitcoin. Circle can't be competing with the other bitcoin exchange, and they were feeling stressed. LOL

circle.com like most site accept to sell bitcoins then change there mind  because of all the paper work that's involved with buying and selling on a site like this. I think there need o be a better site out there then circle or coinbase s both need a lot of id to which I believe that bitcoin was designed not be like a normal currency buy that hat site like this make bitcoin so yes use coinbase if you want the same or use localbitcoin that what I use and always will 

This.
Here's the related CD article that sheds some light on the matter:
http://www.coindesk.com/circle-bitcoin-shift-isnt-what-it-seems/

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Anyone knows what will happen if I send btc to an old circle btc address after having converted to local currency (and can't convert back to Bitcoin)? If such deposits go through and get auto-translated to fiat, then you could still use circle to sell btc.