Bitcoin Forum

Select the most likely action you are going to do once Bitstamp reopens (considering it will reopen).

sell btc and withdraw fiat

Buy btc and withdraw btc.

Or nothing.

withdraw fiat and invest in my non bitcoin business. buy some coins. withdraw coins.

Already buying BTC... Will do nothing. Just wait.

By the way, if you hold any cryptocurrency and wish to sell it for USD, you don't need to wait for Bitstamp to open its doors. You can buy nubits since 1 NBT = 1 USD and when Bitstamp opens its doors you just sell the nubits and buy back BTC, transfer the BTC to bitstamp and get your USD. For example, I need to have a reserve of USD that would not suffer from the risk of BTC volatility but since Bitstamp is offline I cannot buy USD. To remedy that I bought nubits instead and I hold them in my wallet. You can't hold USD in your coin wallet software but you can hold nubits and since they are pegged to USD you are essentially holding USD in your cryptocurrency wallet.

That said, when Bitstamp opens its doors again, I will sell some of my NBT for BTC, transfer those bitcoins to Bitstamp and buy USD. Nubits changes the paradigm of what happens when an exchange goes offline. Previously, those who wanted to sell BTC would rush into exchange and sell their coins immediately when the exchange comes online. The latter would surely cause the price to drop since many people are selling at once. Now, with the help of nubits, you don't need to wait for the exchange to come online in order to sell your BTC for something that is not volatile.

I don't have bitstamp coins.

But if they reopens then I will buy coins.

I have a USD balance and some coins there.

I will just log-in and see if everything is ok, and then log-out again.

I would suggest to withdraw and deposit only when you have to. I know it's difficult for day traders but better safe than sorry. 

Buy as much as I can. U gotta understand their feelings, they just lost $5,000,000 USD, that's more money than you will ever see  ::).

That sounds pretty easy   :)

Good time to have fiat in bitstamp IF it reopens you wanna instant buy, the price was at $276 at close and its already higher at other exchanges.  I can see a huge candle incoming.

Do nothing.

Withdraw all the BTC and keep it in my wallet..

do nothing  ;D

I'm not on Bitstamp but if you are you should BUYYYYY up every sell order in between 276 and 280 of course.

My thoughts exactly. Originally I wanted to withdraw fiat, but now seeing a price difference it's tempting to use the opportunity and buy. Then sell as soon as the price reaches other exchanges levels.

jaja, thats it!, i dont like any exchange ( maybe because i dont beleive on any of themso thats why i really think like you about all of them.

So my answer is: do nothing ;)


:
+1, be as faster as possible if you need to use their services.

I'm not going to do anything, well maybe I'll read about it.

Bitcoin can barely go a week without experiencing a major hack. Remember the last time your bank was robbed and they shut down for a week and you weren't able to get any of your cash? Oh? Well, neither can I!

How's 'being your own bank' working out?

Voted!

Since I store my own coins, fine thanks!

You are sounding increasingly desperate. I suspect you know that your cheap coins are not going to come after all. Pity. :)

If a major exchange like bitstamp can't even protect their wallet, then how do you expect to keep yours 100% hack proof?

I'm sure yours is completely safe and sound... until the day it's not! Just don't ever move them to an Internet connected device. As any bit-tard knows, bitcoin is the safest and most awesome form of money ever created, just keep them offline and never use or trade them!  :D :D

buying Alts! no one ever hacks / steals those

Not back to business yet, this may take a while: ::)

We are fully rebuilding our systems from the ground up so that customers can use @Bitstamp with full confidence and trust.

Have a slice of cake.

And what about 50M NXT hack incident at Bter exchange? Luckily they were able to buy most of them back.

Everything that has value is a subject for hack.

Do nothing.

If they mean they are redeveloping their entire system I bet it takes longer than a few days. Lol

Sort of. In 2008 some banks went bankrupt and people could not withdraw their money. I remember a couple who had a million in a bankrupt bank and would not leave the premises until the bank let them withdraw it. The bank refused and called the police to get rid of them.

Your memory is short if you don't remember that the folks in Cyprus experienced nearly exactly that.
Worse, for when the bank did open a large fraction of their money was taken by the government.

Didn't their CEO tweet that bitstamp would come back online in 24-48 hours yesterday???

He gave that as a rough estimate, and the 48 hours isn't over until tomorrow.

Great thread. I will be buying. Price will dip to 225 then creep up

i don't think so, already it was around 290..

price increase chance is more...

BTW: i don't have huge btc in bitstamp,so no issues whatever happened.

Bitstamp will never reopen. All bitcoins and fiat traders deposited there, were stolen by the Bitstamp owners. They'll declare insolvency and bankruptcy very soon.

When the first dump happened and we were 299$ I instantly sold some bitcoins and bought nubits.
When we reached 285 I bought the bitcoins back and sold the nubits. So now I hold fingers for the price to go up :D

I wonder if localbitcoins gained many new users and a lot of volume thanks to bitstamp hack? I have used localbitcoins 6 times with 100% success. They seem like a nice substitute at times when Bitstamp is not working.

I think they will reopen and not take the route you describe. Other exchanges survived hacks.

Where was this? The FDIC guarantees customer deposits up to $250,000. That is why wealthy people generally don't hold more than that in a regular bank account at any time. For the vast majority of folks, they can rest easy. Same can't be said for bitcoin.

I will be buying. The price will shoot down to 255 range and I'll buy more cheap coins. Then sit back for the rest of the year and watch my money make money.

Assuming Bitstamp might go online soonish, are you still comfortable to trade there?

How big do you think is the risk of just leaving 200+ coins on Stamp and wait for the next bubble? I mean if they come back, they effectively proven themselves to be trustworthy and pull through with their promises. And I bet they will increase their security measures even further.

Completely moved to BTC-E. Bitstamp will have to prove they are here to stay.

But BTC-E??? I mean they have proven to be pretty reliable and not to mess with peoples' BTC. But the people behind the exchange are completely unknown, if they wanted to disappear, I don't think anyone knew where to look for them. I don't know if that's the best choice then. What about Kraken?

The only bad thing I have heard about Kraken is that it's a fairly low volume exchange.

Yeah they may need to push their volumes up. But with Stamp going through all this hassle, it could result in people going over to Kraken, and maybe also Bitfinex. They seem to be rather unshady and trustworthy, as well!

i'm to withdraw everything. if i'll be able to. becouse of no answers or real communication. just multiple lies about eta

@ jan 5
https://twitter.com/nejc_kodric/status/552090819659071488

@ jan 7
https://twitter.com/nejc_kodric/status/552615256452001792

@ jan 9
http://www.reuters.com/article/2015/01/09/bitstamp-cybersecurity-idUSL6N0UO1DC20150109

Well, I don't know how you interpret those tweets, but the first one said to expect an update and an ETA later that day - which he delivered. The second tweet said they will likely be online in 24-48 hours. They're now approaching the end of that time frame.
In my books he still is very very well on track.

Use some of my sock puppets to FUD the shit out of them claiming they ripped me off.

Second tweet posted on 3:58 PM - 6 Jan 2015, so a day late :-\

Expect this.

We see you! (I don't, because you're all ignored)

*waves to trolls*

Please tell me you are joking. You must be joking. Right? RIGHT???

Why would you even consider leaving your coins on Stamp instead of an offline generated cold wallet? You will be playing beta tester for their upgraded site. They could just get hacked again. Or go bankrupt once their customers have fled them in masses right after opening their site back up again (if they ever do that...).

it might open ................but for how long ??
there will surely be a run on the bank if it does open (hopefully they can cover it )

whos going to trust a brand new system thats only been "tested" for a couple of days with coin or cash ??
i cant see then regaining popularity  or doing the previous volumes after this whether the coins are repaid or not

trust is vital in any money handling business and i think the bulk of customers wont use them again and will demand their coins back from the cold storage

the chance of this rises the longer it takes them to come back online and the more bullshit excuses and delays they are throwing out.......

Ahh well, almost half a day, yeah. But you can't expect everything to go buttery-smooth after you lose a couple million in BTC. I'm still confident. This looks not like Gox to me. But we'll see, I guess. I also don't buy the deadline of friday until I see it on their official website.

This, while I withdraw everything and go 100% SafeCoin.

100% withdraw existing balance to stick those bad-boys into cold-storage.

Do you've got any FIAT left of Bitstamp? If so, do you plan on converting that into BTC (buy BTC), keep it on Stamp or withdraw it to your Bank account? That seems to be the biggest question right now.

Bitstamp opened ;)

its back  8)
but what happens now ?

lets see if they buckle when everyone wakes up and tries to withdraw ...............

When they allow trading to start at 2100 UTC shit is going to go crazy.
No commission is a big deal. Multisig even bigger
I have been speaking to a friend of mine who could be considered a whale.
He told me he is picking up 40k right now to prepare as the price is going to go through the roof.

Finally, Bitstamp is back, but the whole "hack" thing is too shady, you know. We'll probably never be lucky enough to know the real story behind the scenes. It all might be just an epic manipulation going on there. With BTC-E, I'm confident enough to store or trade some coins. Besides, in the Bitcoin world, you can trust nobody these days. Cons can't wait to get their hands on your coins.

---
The Real O.GGGGG here: my account was hacked and the above post was not made by me. I have recovered the account with the help of the admins.

40k? Tell your ghetto friend that I talked to my friend, a real whale, and he told me he's dumping 180k.

not working yet?

ftfy  :)

You can log in to your account, but trading will only resume at 21:00 UTC January 9th.

Yeah, I got my time zone wrong. I guess I'll place orders? Dunno really what to do.

the only problem with btc-e is that nobody knows all that much about it and theres very little regulation in that part of the world so they could do a gox if they felt like it at any time and im not comfortable with that

until theyre are insured exchanges i wont be trading because to make 0.5% or 1%  or whatever  i need to risk 100% due to hacks and gox like stunts and i think this is keeping big fish investors out of  btc atm

At first I thought I would panic buy, then panic sell. Then I remembered that bitcoin doesn't quite react the same way like it used to. So now I will probably do nothing, but request my fiat withdrawal on monday.

Withdraw directly =>

price went up 20usd in the last 5min lol