Btc-e is an honest exchange

[aasl]

I regret to send my materials to mtgox. although in the end they still didn't validate them...

[dave111223]

I find it FAR safer to operate with anonymous people. First, who is the subpoena going to be delivered to if my tyrannical government (USA) wants my account info? The more they care about their anonymity, the more likely they are to protect mine - even if just because they're in a better position to.

Why would them caring about their anonymity; have any bearing about them caring for your anonymity?

Plus....what do you care about more your anonymity or your money?
If given the choice between the losing their anonymity or losing their money I would think most prefer to keep their money.

For example if presented with two options:

A) Exchange is harassed by US gov into handing over all your information

B) Exchange disappears with all your money


Granted both options are bad; but if you prefer option B; then it would seem the money was ill-gotten?

[trader001]

btc-e is run by rational person.

Running a legitimate exchange is more profitable than scamming people and run away with people money.

[dave111223]

btc-e is run by rational person.

Running a legitimate exchange is more profitable than scamming people and run away with people money.

I wouldn't expect that the exchange can earn profit greater than the total amount of all deposits during its lifetime?

I haven't done the math, but seems unlikely at (how much to BTC-e charge 0.2%?)

[trader001]

btc-e is run by rational person.

Running a legitimate exchange is more profitable than scamming people and run away with people money.

I wouldn't expect that the exchange can earn profit greater than the total amount of all deposits during its lifetime?

I haven't done the math, but seems unlikely at (how much to BTC-e charge 0.2%?)

You need to take growth and brand into account.

They can easily start another service with little trust issue.


If a new company start the same service, it will take many months before people will start to use it. That is assuming no new reputable company come in to capture the market first.

[dave111223]

The reason their anonymity matters is because if they are anonymous, they are in a better position to protect my information. It's hard to threaten an anonymous person in an attempt to extract information.

If presented with those options, well... I might just choose A. However, I never have all my money on the exchange. So, it's more like:

A) Exchange is harassed by US gov into handing over all your information

B) Exchange disappears with all your money on the exchange

In which case B is the clear choice.

EDIT: By the way, just because I'd be willing to sacrifice some money to protect my privacy and anonymity doesn't automatically mean the source of my money is illegal.

Keeping very little funds on the exchange so that you unaffected in the event of a total loss; and *trusting* an exchange are too entirely different things.

If you keep only a small amount of money on the exchange, so that if it is lost you don't care that much; then it doesn't really matter whether the exchange is honest or not.

But I guess this only applies to people who are trading what they consider to be pocket change.  If you are trading what you consider to be a meaningful amount of money then IMHO you'd value stability/transparency more than anonymity.

[hloren70]

I've never had a single problem with them. And the fact that they like to keep themselves anonymous is a PLUS in my book!

[antonioserrano72]

There is truly too much speculation about this.   

[aasl]

The reason their anonymity matters is because if they are anonymous, they are in a better position to protect my information. It's hard to threaten an anonymous person in an attempt to extract information.

If presented with those options, well... I might just choose A. However, I never have all my money on the exchange. So, it's more like:

A) Exchange is harassed by US gov into handing over all your information

B) Exchange disappears with all your money on the exchange

In which case B is the clear choice.

EDIT: By the way, just because I'd be willing to sacrifice some money to protect my privacy and anonymity doesn't automatically mean the source of my money is illegal.

Keeping very little funds on the exchange so that you unaffected in the event of a total loss; and *trusting* an exchange are too entirely different things.

If you keep only a small amount of money on the exchange, so that if it is lost you don't care that much; then it doesn't really matter whether the exchange is honest or not.

But I guess this only applies to people who are trading what they consider to be pocket change.  If you are trading what you consider to be a meaningful amount of money then IMHO you'd value stability/transparency more than anonymity.

If you trust an exchange to keep your money like a bank, then you are stupid and you will probably lose it, and further, you deserve it, because you should know better.

nice comment!

[dave111223]

If you trust an exchange to keep your money like a bank, then you are stupid and you will probably lose it, and further, you deserve it, because you should know better.

You have to keep your money in there at least while you are doing the trade and that whole in/out process might take several days to a week or more depending on your location etc....  so you still need to trust them for at least that period.

[dave111223]

If you trust an exchange to keep your money like a bank, then you are stupid and you will probably lose it, and further, you deserve it, because you should know better.

You have to keep your money in there at least while you are doing the trade and that whole in/out process might take several days to a week or more depending on your location etc....  so you still need to trust them for at least that period.

True, but how often do you trade, say, your entire life savings at one time?

I trade enough that I'd be pissed if it disappeared.

[leopard2]

Holy cow, they make so much money, the 0.2% is probably more in a month than the entire coins funds they hold

Why slaughter a milk cow huh? 

They won't run I don't believe it.