sorry. I was confused. I believe their information update. because I only have a little money in btce, specifically 37$ and I get back 23$ . it is 61%
thank you for the correction information
Yes it is confusing. WEX made a huge mistake by socializing the BTC-e fiat losses across the crypto holders, that's effectively angered all users and killed the daily trade on the exchange. What they should have done is only issued tokens (USDET,EURET,RURET) for the fiat shortfall and credited the crypto holders 100%, that would have reduced the anger significantly and improved the crypto trade no end. Instead they forced crypto holders to lock up a substantial portion of their funds (38%) for an indefinite period of time in tokens, thus killing the crypto trade on what is primarily a crypto trading exchange. When the tokens are gone things might get better. https://cointradeanalysis.com/dashboard/db/wex-tokens |
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Too early to say. The Greek government is in the pocket of the USA, and the arrest was carried out at their request. To boot, the Russian fraud charges amount to a small pittance vs. the American allegations. I'd like to see him extradited back to Russia, just so the US gets screwed over from all angles here. But I'm not sure that will happen just because Vinnik isn't fighting the Russian extradition.
I think Vinnik should be extradited back to Russia because that's where he is from, their should be a pecking order to these kind of things, and the country of birth should win. Simply because neither set of charges has been proven, therefore both countries claims are equally worthless until actually proven. The DoJ could say that Vinnik is responsible for the death of a billion people in 2037, claiming they have a top secret method of seeing into the future. The death of a billion people is an extremely serious matter, but until proven, less serious than say publicly available camera footage of Vinnik stealing a loaf of bread in Russia. |
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So, is there an alternative crypto to Tether that is actually backed by fiat and transparently audited?
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Great work for re-establishing service, but I was hoping for better liquidity on WEX  BTC-e has it's fiat seized by OKPAY in July and you want better liquidity. That would be funny if it wasn't a catastrophe, it's kind of like complaining about the local water quality after a tsunami. |
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at present we got back was 55% of the initial capital 55% of your bitcoin and 45% converted into token. current token price 0,48 btc . btce will buy back the token btcet 1:1 btc
Wrong, we got back 61.79% initial capital and 38.21% in tokens. eg. if you sell your tokens for 0.55 you get back 61.79 + (38.21 * 0.55) = 82.8% I sold by tokens at around 0.6 so I got back a bit more than that, and I was happy to be out of the token trap and trading again. BTW. I just got an email from coinmarketcap to say that my request to add WEX as an exchange had been resolved, and the data should start appearing in 24hrs. https://coinmarketcap.com/exchanges/wex/ |
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The poll got it wrong.
Just like the polls said Hilary would win the US presidential election
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SALT just appeared on the Exodus Eden wallet, but it's pretty hard to info on. It doesn't appear to have an official announcement here. It's apparently not on any exchanges and it's not on CoinMarketCap yet. Does anyone have an idea what the tokens will be selling for once they hit exchanges?
It's at least a week off, Eden just getting in early. |
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Not sure why people keep focusing on WEX with so many far better alternative options available.  Because thousands of people are stuck on WEX in tokens, with no real option to get out, unless they take at least a 50% loss on selling their tokens, and trade their fiat for overpriced crypto to loose several more percent. There are no fiat withdrawls yet, so most of the crypto has already been withdrawn from the exchange in the flight to safety, leaving an oversupply of USD balance, but there isn't anywhere near enough USD for that kind of "bank run" unless they got investors to put lots in. |
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btc-e is gone dude
yes i talk about https://wex.nz/ , how to verify my account?? regards You can't yet, verification is disabled. |
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Tokens are trading at 50% of their 'face value', and that's the result of the long time it takes WEX to buy back these coins, at least, that's what they want people to believe.
50% seems very high considering they probably wont pay back for a year at best like finex. I should imagine its high due to people saw how smooth the finex tokens got paid back. You can probably double your money in crypto in safer ways so the best option is probably cash out. The likelyhood of BTCe trying to crash the token market is pretty high also. You will be lucky to receive 50% people are trying to crash the token price, down to 41% on DSHET already. They are using bots that buy at the lowest sell price then sell part of it at the highest buy price and keep the difference, over and over to widen the spread and accumulate. As a result the trade volume on the site has dropped by 40% because most people are tied up in tokens, and the price is too low to do any trade. Also they have put the troll box min balance limit up from $100 to $1000 which is quite funny as there are lots of people who don't trust the site enough to leave $1,000 balance on it. The small traders will leave, down goes the daily trade volume again. WEX are doing everything they can to kill daily trade volume. It's $11mill atm. was over $20mill this time yesterday. Realistically the site is dead, the normal coin trade it low and slow, most of the volume is token trade. To see how dead WEX is look at the exchange volume charts here https://cointradeanalysis.comAll because of the token trade scam to to eliminate debt repayment. |
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To improve turnover, and pay back it's IOU tokens faster, WEX needs to freshen up some of it's coin pairs.
Back when BTC-e started, it use to focus on the top 10 coins at the time, however nowadays PPC, NMC, and NVC are no longer top 10.
According to Coinmarketcap;
PPC #94
NMC #128
NVC #209
That's some serious dead wood.
WEX added BCH which was a good move, but they need to handle pretty much the whole top 10 turnover coins to get a move on. ie:
List of top dozen coins by volume not market cap:
BTC
BCH
ETH
LTC
USDT
ETC
QTUM
XRP
XMR
OMG
DASH
NEO
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Why bitcoin is priced 8% higher than it's actual value on BTC-e? Is it likely to get better or should I go ahead convert my fiat?
It's not, fiat has less value on WEX that's all. If you look at the coin pairs that don't involve fiat, they are about normal compared to other exchanges. BTW Alexander Vinnik agreed to extradite to Russia https://bits.media/news/aleksandr-vinnik-soglasilsya-na-ekstraditsiyu-v-rossiyu/ That the article claims Vinnik admitted to working at BTC-e. |
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I see token prices have fallen since yesterdays news.
I left $110 worth in LTCET and DASHET so I could still use the troll box. It's now down to $95, in less than 24hrs.
I don't think I will top it back up.
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Of course 1-2 years is way too long. But it's the same timeline that admins provided weeks before WEX even launched, so I'm not surprised to see them reiterate it. I was taken aback to see that tokens were trading at 50% of their value. Who would make such an investment at that price? The crypto markets allow traders to 2x their money in one day (altcoins or BTC with leverage). Waiting around for two years to 2x your money with WEX -- who would do such a thing?
Perhaps they are doing it so most people will get frustrated and cash out of tokens at a loss, thus getting the IOUs off the WEX books? Problem with that strategy is they will loose many customers from anger. I have sold all my tokens and cashed out of WEX except for the troll box minimum. Not in the mood for waiting 1-2 years to get money from tokens back. |
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From the latest news, google transalted. Tokens!19.09.17 00:13 from admin After launching wex.nz, we see it possible to talk a little more about the tokens of our site and close many questions with them related to our users. The question that worries everyone is the tokens that users received. "What is it? With what do they eat? What is his future?! " Answer:WEX received the digital assets of BTC-E, but not the financial balances! WEX did not buy or accept any financial obligations ex-BTC-E WEX received a database of users. We call tokens now bonus, legally it's called Option. Our lawyers are working on the wording of what a token is in the correct form, so that no one has any complaints against us. Token, was invented by us, with the understanding that YOU got the opportunity, in the future to get more. Earlier it was reported that the conversion will occur in the ratio of 55% (balances) and 45% (tokens). At the launch date, the ratio of 61.79% (Fiat and crypts) and 38.21% (tokens) was possible. Where did my tokens come from?We received digital balances and user profiles in our management. These tokens / options for future compensation of lost your financial balances. They are created from the calculation: 100% of the crypt in 61.79% 100% of Fiat (our company did not have and does not have access to it) in 38.21% of the tokens Are tokens tantamount to cogs?Token bitcoin is not bitcoin and does not have any of its qualities and properties. Tokens of other crypto-currencies also do not have the corresponding qualities and properties of the corresponding crypto-currencies. Can I sell the tokens? Can I buy tokens?Trades for tokens are open and available at https://wex.nz/tokensThere are no restrictions on trade in the tokens. Why is the price of tokens lower than nominal?This is due to the fact that some users want to sell their tokens on the market and go into the funds that can be used to withdraw or trade in other pairs, and the market, knowing that these tokens / options will eventually be redeemed in a 1: 1 ratio, offers a lower price. Where are the tokens traded?They are traded only on our site by the link - https://wex.nz/tokensCan I transfer tokens to another platform user?We plan to introduce wex-codes into tokens until 30.09.17. At what price and how will the tokens be redeemed? Tokens / Options will be redeemed in the following ways: On the market with the income received from the commission site in the format (daily, weekly, monthly). On the market from the funds attracted from investment funds and companies. The final redemption (the date of redemption will be determined as the fulfillment of points 1 and 2) is the redemption of the tokens at the nominal value of the users remaining in the accounts. When will all the tokens be paid off?Planned time to buy 100% of tokens 1-2 years Each user who owns tokens / options, after creating a legal support (verification) will receive a detailed description and payment scheme in the personal account. RisksWe are obliged to inform you about them! Of course there are risks to the project and there are not a few of them. From legal to operating rooms! We created a financial company and work with different legal offices. We also plan to insure your money on client accounts in banks and prevent the situation that happened with BTC-E. I think 1-2years to redeem the tokens is way too long. The tokens represented 38.21% of your holdings from BTC-e, if you sell out tokens at .55 you are getting (.55 * 38.21%) + 61.79% = 82.75% of what you held when BTC-e went down. If you can't make back way over the 17.25% loss in less than 1-2 years, then why are you trading on a crypto exchange in the first place? I see lots of token holders cashing out, taking the 17.25% loss and going somewhere else to make a profit. |
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BTC-e.com is no more. WEX.nz has replaced it. Similar api so it should be easy, WEX used most of the BTC-e site code. https://wex.nz/api/3/docs |
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I wonder how many shell corporations these guys have. I assume there has to be more than one for an exchange of the size they are working with with all the different processors.
I would think way less shell corporations than what the Pentagon used in it's arms trade funding with ISIS in Syria recently. |
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the toxic heritage is there with every single coin they return to people. they can't avoid it. that's why i find it a little strange they're trying to say they're a brand new operation.
and if they've managed to return all crypto that must mean a lot of that crypto is still tainted by crime.
nothing's changed other than losing the fiat so perhaps there's still a target on them.
I think you will find there are more people in the world concerned about the "toxic heritage" of US government departments, like the DoJ and the FBI, with there unsubstantiated smear campaigns which you have obviously fallen for. I for one don't believe the exaggerated claims of stolen Gox funds and money laundering for a minute. The fact that the DoJ press release started with the words "Russian national" instead of some facts, clearly demonstrated the whole exercise was political, probably arranged by the Democrats or Neocons. |
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It's a good thing that BTC-e has come back strong with another brand name. I think that this is necessary to prevent unneeded speculation on whethr the exchange is going to get shut down again.
However still, i think that the confidence of users in BTC-e has definitely faltered. People realize now that with such an anonymous company you have to rely on the admin's word and even though they did reimburse everyone this time doesn't mean that they will next time.
But at least it won't be the US gov again, because they are not offering their products to them(smart move).
What an epic load of crap. WEX is not an anonymous company, it's licensed in Singapore and the address and contact details are there for all to see. Stop spreading your FUD. |
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It means that the database of customers was stolen?
