Thanks for re-iterating the same propaganda we've heard a zillion times. Question is: How are we going to get value *into* the bitcoin economy without the aid of banks? Ripple?

I just had the same happen to me today. My bank (a credit union in the US) use Western Union for international wires. The wire was returned after 1 business day, with WU simply stating they do no transact with "this entity" (i.e. Bitstamp). Asked my bank for a copy of the letter from Western Union but they refused. In any case, WU's intentions is easy enough to decipher: Western Union is boycotting Bitstamp (and probably other BTC exchanges they know of). Quite predictable though when you think of it...

My bank refunded the 40 USD wire transfer fee and apologized.

Prices are updated after each trade. Justcoin does not sell coins; they match buyers and sellers. The prices updates whenever ask/bid offers match and trades are made between exchange participants.

Again, market price refers just to the last trade on the market (or another market). ~3000 USD is in the order of the daily BTC:USD volume on Justcoin, so there's a chance you might be able to trade that amount in a day or two. Its unlikely you'll be able to get the order filled immediately. Obviously, the 'market price' might fluctuate while you wait for your order to fill. You might then end up trading below the initial market price, or not trade at all.

USD and EUR for sure. Your bank will do the conversion to SEK (or EUR, depending on the denomination of your account) using their current exchange rate.

Just note that you cannot withdraw USD with a SEPA transfer. You'll have to pay the additional fee for sending a wire. I think its about 10 EUR.

I'm not sure about NOK. Ask Justcoin directly by clicking on the contact icon when you're logged in.

Interesting, I had no idea. I assume Justcoin is guilty of some of the delay. Can Andreas or Klaus comment on this? But, I will test the my banking delay directly by performing a domestic SEPA transfer to/from accounts I control. That should give me an idea of the actual SEPA related latency only.

I would like to emphasize that minimizing these banking delays is important to anyone trading in bitcoins.


I don't understand. You received the money, but it was still fraud?

I don't trade privately via SEPA, for the reason that I am under the impression that SEPA transfers are reversible and subject to possible chargeback (and for quite a long time after payment was received). Do you know if that is correct? What is the risk of accepting SEPA payments vs a wire?

Congratulations! You have just discovered one of the great advantages of bitcoin, where international transfers are (almost) free and typically happen within the hour.

I am not a banker but I assume the delays occur because individual banks approve SEPA transfers manually and shoots them out in batches perhaps just once a day. This probably also applies to wire transfers (which is not the same thing as a SEPA transfer). Again, I am not really knowledgeable on this area. Just my 2 microBTC....

Note that I am talking about SEPA transfers, not regular inter-bank domestic transfers (which usually takes 1 working day or less).

SEPA transfers *within* Norway takes 2-3 working days and you should expect at least that long for payments to arrive from Sweden.

Saturday/sunday are not working days. Your payment may in fact not have left your bank until today (Monday) and if so you should not expect your account to be credited until Wednesday or Thursday.

First, relax. You have not been scammed.

What did you deposit? Cryptocoins or fiat (USD/EUR/NOK)?

Could you tell us which bank this was? Its useful info for anyone considering opening accounts for buying/selling bitcoins.

I don't have the experience, but am curious on this one as well.

What are the rates they offer? For the 'guaranteed' and 'risky' options?

I would definitely tread cautiously on this one... What are the guarantees the borrowers will pay back? On the "How it works" page it says so:

"If a trader end up with more losses than his balance can cover, lenders can lose part of their lent funds, unless they use insured loans (see FAQ for more information)."

I guess you'll have to open an account to get the specifics. Let us know what you find out and your experiences.

Thank you for the convenience!

Your implementation seems, however, dated in parts.

The ticker() method does not work, perhaps because it cannot be accessed via API calls (there's a public address for it).

The eurusd() method also does not work, again because it is no longer (?) supported by the API.

Otherwise, the code seems kosher. I'll use it. BTC tip address?

Does anyone know if Bitstamp provides a public ticker to pull the last BTC:XRP exchange price from their order book?

What would be the simplest way to get at it?

I'd say I make about 10-20 trades per day on Justcoin and that's a small piece of the volume traded there. Of course, you can trade at the current market price in which your trade is executed immediately. Or wait and see which way the market moves. The answer to this question really depends on your objectives...

FYI: Trading with fractions of BTC was enabled today.

I have a question about the BTC derivative that is traded on Coinsetter. Are all trades still backed up by real BTC and real fiat? And, are the order books from BTC denominated and USD denominated accounts the same?

Other than that, it would be great with updates as to how things are developing and when you plan on exiting 'beta' and launch public access?

After you login to your account, select Trade and then the market you want to trade in (e.g. BTC/EUR). The order book appears in the table to the right on the page (with columns labeled Sellers and Byers). The orderbook contains the current list of ask and buy offers that other Justcoin users have entered. You can enter a price that matches an existing entry in the orderbook (select the Instant option). Your order will then execute immediately at the current market price. Or, you can enter a different price (select the Advanced option and set your limit) and wait for the market price to adjust. The market may of course move in the opposite direction of what you expect.

You may want to experiment first with small amounts of BTC. You can trade with as little as 0.01 EUR or 0.00001 BTC.

Good luck!

Interessant!

Hvem bruker du til å formidle transaksjonen? Jeg er iferd med å integrere bitcoin som betalingsmiddel på egne sider men det mangler en god partner for dette i Norge. Jeg håpte Justcoin skulle ha noe klart før 2014 (Andreas/Klaus, hører dere?). BitPay virker som eneste alternativ. BIPS ikke så aktuelt etter fiaskoen der i november.

You both miss the point.

My risk assessment was strictly in response to thedarksun's question whether Justcoin is a scam (i.e. the possibility that its owners will someday run away with his money), and not whether there is an inherent risk trading there (exposure to thefts, hacks etc by 3rd parties) or using bitcoins in general.

Still, I stand corrected as the risk of being defrauded can never be zero and I have edited my post