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I've found mine, but it has XXX as last 3 digits. Do I need to find this from somewhere or?
As a personal opinion, if you don't know how to manage your bank account to send and receive money you should not attempt trading bitcoins. As per the bank coordinates, just ask your bank: they know better. |
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On the international wire transfer the box says:"IBAN / Account Number:".
Just looked at some statement it has (rough translations): account number; transactions account (whatever this is supposed to mean).
I'm a bit new to this.
Are we talking about bitstamp? Because since verification is mandatory, you should already have sent them all the relevant paperwork to identify your bank account. This means that no matter if you choose International or SEPA, all the required information are already prefilled for you. However if you are in Europe, pick EU Bank (SEPA). |
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Just provide Bitstamp with IBAN and SWIFT/BIC (which predates SEPA) for your bank account and you'll be fine. Oh gosh, i see no sleep for me. IBAN is SEPA. No it's not. IBAN (1997) predates SEPA (2008). IBAN is an "address system". SEPA is a framework that uses IBAN to facilitate EUR transfer between countries in the "SEPA area" (28+4 countries, check wikipedia for the list). |
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IBAN is the number that you can find on the recipient when withdrawing from ATM right (aside from the document that you receive when making the account)?
Seems simple enough. Thanks.
IBAN can be found on any statement for the current account. I don't think the receipt for an ATM withdrawal carries IBAN, it could be a security issue. |
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No it does not have/use SEPA.
Just provide Bitstamp with IBAN and SWIFT/BIC (which predates SEPA) for your bank account and you'll be fine. - Bitstamp will instruct their bank Unicredit to transfer you xx.yy USD - Unicredit will perform a USD>EUR conversion at almost zero costs - Unicredit will send EUR to your bank - Your bank will convert EUR to your local currency keeping a chunk of it for proving the conversion service The end. |
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@bitstamp: any chance of upgrading the chart system on the site? or even better launch mt4 support?
With the APIs that lag up to 30 seconds compared to the order book data available in the limit order page? Let's be serious...  |
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Well I was told by a few people that I'd need such an account. I guess they're mistaken?
I've also thought that this would be very inconvenient if it was the case.
Multi-currency accounts are not common and not offered by all banks. If you don't need to receive funds in currencies different from the one thay you use daily, than yes the few people were mistaken. A multi-currency account would make sense if you are operating on the stock market. You could keep balances - for instance - in EUR, GPB, and USD and operate at the same time on any stock exchange operating in EUR, on the London Stock Exchange and on the NYSE/NASDAQ. This would greatly reduce profit erosion because you would eliminate the conversions needed if the account was "single currency" (you would fund the trading platform, usually offered by the bank, without worrying about conversions). I hope all of this makes sense to you. |
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If i can only withdraw in a few currencies, don't I need a foreign bank account for them?
Can someone answer this. The currency you are withdrawing funds in does not matter. It all comes down to your bank and your current account: your bank will convert everything that comes in, in the currency you are using with your account, no matter if the funds are coming in as Yen, Zloty or Rupees. This unless you have a multi-currency account: in this case - if you have for instance balances in EUR and USD - amounts coming in as EUR will be credited as EUR and amounts coming in as USD will be credited as USD without conversion. |
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How have you switched it to english? I can see the language menu but can only select french!
I didn't do anything. In the Language menu I can see English and French. I am using Chrome and under language settings I have "English (United States)" as primary language and "English" as secondary. |
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Bitcoin-Central is open again and EU-based.
BC-Central has a lot to do to catch up. At the moment, their website is in french only... I'm logged in and it's in English. |
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I get that some people prefer to accumulate BTC over USD. That said, I don't understand why those people keep harping in this thread. Some of us prefer to make USD. We're happy.
You can do both actually, but it involves trading manually. |
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Still unusable and unrensposive. Prices lag minutes behind and cancelling orders is impossible.
Tips for a new good European market place?
Bitcoin.de & Kraken.com, although neither have anywhere near as much volume as Bitstamp does. Bitcoin.de is not really an exchange, it is more an escrow that facilitates trading: you deal directly with other users and you buy/sell using SEPA transfers. Once the payment is received by the you/the other party, Bitcoin.de release BTCs accordingly. Pro: - Transfers are not stuck in a limbo depending on non-specified "problems" (MtGox/Bitstamp style). - Because the entities involved in the transfers are banks, transfers really happen in 24/48 hours - The price for BTCs sometimes is lower than "real" exchanges - You don't need to fully verify your account: there is a semi-verified status that allows you to trade a maximum of €2500/year (IIRC there is also a limit in terms of volume, but at the moment I am too lazy to login and check ). Cons: - Because of the 24/48 hours delay you cannot do day trading - No major charting facilities available - In case of a price crash the other party may refuse to honour the transaction (by doing so s/he will be penalised and possibly banned by/from bitcoin.de) - Prices in USD don't make any sense: they are hugely overestimated |
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Can anyone recommend any other EU exchange apart from Sh*tstamp? As soon as my SEPA transfer I made on 18th gets credited, I'm going to kiss Bitstamp a permanent goodbye. In the spring my account got robbed and I lost about 2000 euros because Bitstamp doesn't offer two-factor auth for Nokias and has otherwise fairly easily crackable security.
Now they first made a post about banking software issues on 18th, although some people have said to wire money to them on 12th and still not getting credited. Then their page page goes down for several days and there is not a single f'ing post from the staff posted on social media about what's going on untill they report "everything is fixed, but the standard banking processing". How about some estimates on how long the standard banking transfer will take to process?? It has now been two days since they made that post and my account hasn't still been credited.
The way they run their "customer service", if you can call it that, is just... I don't even know that call it. It's something I want to have nothing to do with.
Bitcoin-central.net (see https://bitcointalk.org/index.php?topic=129461.680) could be an alternative, however the backlog for document verification is quite high at the moment. On a positive note, when I told them that I had been waiting for verification for 20 days, they escalated the issue to their partner and I got verified straight away (IIRC the next day). Also there are no charting facilities at the moment, so you would be trading blind. |
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What it leaves you is with 0.2%-0.3% of your funds. Thats not such a big deal when everything else works. It will be fixed
It is a big deal depending on how much money you are transacting. Lack of communication is not helping either. Your mileage may vary. |
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A decent strategy could be to always sell the same amount of BTC.
When the market condition allows it, by buying using your USD profits the BTC balance will increase slightly. When this happens put the extra BTC aside, rinse and repeat.
E.g. if you start with 5 BTC and you end up after a trade with 5.13 BTC, put the 0.13 aside and keep selling 5 BTC.
Which means as I have already said, buy low, sell high and then buy again low(er).
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At this point, all is excellent. Bitstamp is rocking again  Not even remotely close: with the fees discrepancy the exchange is not able to use all your USD balance when you buy BTC, buying less BTC and leaving you with unspent USD. |
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I absolutely didn't say that. What I've asked is to see some profitability stats, but it's treated as super-secret data instead to be analyzed by the community. No need to see the exact amounts how many someone traded, normalize it to units (BTC/US$). For example, if you started with 2.4 BTC, divide start/end figures with 2.4 and let's see how much is gained for 1 BTC. Than we will see if there is a value to this bot or not. Maybe some trading strategies produced gains in BTC.
There is no secret and you don't need any chart or excel spreadsheet. It is simple arithmetic / common sense: every time you sell high and THEN buy low the balance in BTC increases. Assuming you are operating in a commission free market for the sake of simplicity: You buy 1BTC at $650 and hold till the value rises to $700, then you sell > you have $700 that means a $50 profit. Now you wait very patiently for the price to drop below $650. At $640 you buy and hold. Now you have 1.09375 BTC. Rinse and repeat 100 times and your balance in BTC will increase. Is it worth your time? Probably not because it is unlikely that BTC value would drop to 630, 610, 590, 410 and so on and even with a sawtooth-like pattern it will keep rising and rising and rising. There will be instances where you will buy higher that 650 and sell higher than 700 and slightly increase the balance in BTC simply because you are leveraging on a higher BTC balance but the increase will be negligible. So if you have the money to do so, every time there is a sensible price drop, just buy new BTC with fresh money. You don't need a BOT to do so, you just need a chart. |
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Apologies, as I stated a few pages ago, we are waiting for our international tests to confirm the issues are resolved before making an announcement. I expect this to happen tonight or tomorrow morning.
This is how a company communicates with customers, watch and learn: https://twitter.com/NodeStatusThey don't hide problems, they report them openly every single time. Also they are able to reply to questions and tickets in less than 4 hours. I understand that this could be a cultural issue, but there is no need to hide things from customers like in the past when the communist party and the iron curtain were very well established in Central and Eastern Europe. Do you have an issue with the visualisation of the fees? Fine. Sh*t happens. Spend 5 f*cking seconds twitting about it and then copy&paste the same message on your facebook page and on the news page as well. |
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I think it's not supposed to be arbitrarily executing trades immediately upon being enabled. Fix that bug & no threshold fields are necessary.
It would be the simplest option: wait for a cross to happen and buy/sell depending on the cross and the availability of BTC/FIAT. |
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OK, so the BOT should also have an initial sell threshold price when you enable it (it could be the same threshold price for both buy/sell actually, but I am sure users would like the extra flexibility). If the BOT in going to buy the alert should be: Do you want to wait until a price of XXX has been reached before allowing the BOT to buy?
YES(checkbox)/NO(checkbox)/CHANGE THRESHOLD(link)
WARNING: If you select NO, the BOT will buy immediately at $CURRENTPRICE. [this could come out in the alert when you check "NO"]
I AM ALL SET, ENABLE TRADING (button). If the BOT in going to sell the alert should be: Do you want to wait until a price of YYY has been reached before allowing the BOT to sell?
YES(checkbox)/NO(checkbox)/CHANGE THRESHOLD(link)
WARNING: If you select NO, the BOT will sell immediately at $CURRENTPRICE. [this could come out in the alert when you check "NO"]
I AM ALL SET, ENABLE TRADING (button). So the user will know what is going to happen. |
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