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Title: Bitfloor ceases operation reasons rumor/speculation Post by: jordan.dev on April 18, 2013, 05:28:49 AM http://news.cnet.com/8301-1023_3-57580163-93/bitcoin-exchange-bitfloor-halts-operations-shuts-down/
So Bitfloor has ceased operations, and currently the only official explanation I'm aware of is: Quote Unfortunately, our US bank account is scheduled to be closed and we can no longer provide the same level of USD deposits and withdrawals as we have in the past. Does anyone want to speculate about what happened to their bank account? The result of some regulators action? Illiquidity? Another hack? Etc. I'm just curious to hear people's thinking. Title: Re: Bitfloor ceases operation reasons rumor/speculation Post by: advanced on April 18, 2013, 07:11:51 AM me too! :\
Title: Re: Bitfloor ceases operation reasons rumor/speculation Post by: Stephen Gornick on April 18, 2013, 07:14:43 AM I'm just curious to hear people's thinking. Related threads: bitfloor issues? - http://bitcointalk.org/index.php?topic=179135.0 bitfloor needs your help! - http://bitcointalk.org/index.php?topic=105818.msg1868333#msg1868333 Bitfloor Shutting Down? - http://bitcointalk.org/index.php?topic=179152.0 Bitflloor: " Trading will be suspended at 6 PM EST on 2013.04.17." - http://bitcointalk.org/index.php?topic=179168.0 Bitfloor trading suspended - http://bitcointalk.org/index.php?topic=179198.0 Title: Re: Bitfloor ceases operation reasons rumor/speculation Post by: caveden on April 18, 2013, 07:16:22 AM My guess is that they can't comply with FinCEN rulings.
If it's the case, it's just one more example of how regulations kill businesses, and creates market concentration. Title: Re: Bitfloor ceases operation reasons rumor/speculation Post by: JordanL on April 18, 2013, 08:11:38 AM My guess is that they can't comply with FinCEN rulings. If it's the case, it's just one more example of how regulations kill businesses, and creates market concentration. hahahahahahaha, big "if" and "guess"!! So, "if" not, then is it an example of a free market failing? Of course not, because blah, blah, blah, nonsense. Ideology is for morons. Bitfloor stole 24,000 BTC in September. They stole much more this time. Anyone who used them after the first time they robbed their customers is a sucker, plain and simple. Anyone who tries to find a way to blame this theft on the government, or anything else, is a fucking moron. Title: Re: Bitfloor ceases operation reasons rumor/speculation Post by: caveden on April 18, 2013, 08:22:49 AM AFAIK they were stolen and were trying to repay their customers' losses with their profits. Not defending them on their mistake for losing that money, but isn't it clear that they can't comply with FinCEN? It costs lots of money, Even MtGox preferred to relay that responsibility to one of these 500K+ venture capitalist funded companies.
How could Bitfloor comply with that? |