SpeedyBitcoin - UK (GBP/EUR) - Safe, Fast and Convienent BTC purchases!

[Liam W]

And why must I be 18 to register an account with you?

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[SBC]

That's our company policy I'm afraid

[Liam W]

That's our company policy I'm afraid

That isn't the answer to my question though...

[SBC]

I'm not entirely sure what you'd like me to say in this context? 18 is the age (in the UK) in which you are deemed an adult and therefore deemed competent to enter into a legally binding agreement. It's also the age at which you can start drinking... legally

[Richy_T]

That's interesting. So how much does that mean the GBP->X ends up costing? One of the reasons I was using your service was to try to avoid the costs of fiat currency conversion (currencyfair is pretty reasonable if I wanted to go that route).

[Liam W]

I'm not entirely sure what you'd like me to say in this context? 18 is the age (in the UK) in which you are deemed an adult and therefore deemed competent to enter into a legally binding agreement. It's also the age at which you can start drinking... legally

True, but still. I don't like age limits, especially ones for no reason. I can't really get bitcoins using money because of stupid age limits.

Oh, and my bank gives me a debit card and allows direct bank transfers.

[Richy_T]

(this is the exchange rate we got when we made our deposit - not the inter-bank lending rate)

I think you need to advertise this rate. It can change quite dramatically quite quickly. USD/GBP fell from 2.0 to 1.8 virtually overnight in 2008 then another 20c to end-of-year and has fallen about 10c recently. You could potentially end up with some unhappy customers.

[franky1]

I can't comment on your specific order as I don't have the details in-front of me, but basically our system works like this: Our system works by effectively buying-by-proxy - and its correct that we are not buying in BTC/GBP. We can't - only GOX has a GBP wallet and that through the Japanese bank deposit. So initially we fill our wallets with whatever the best value currency we can get is (EUR or USD typically) from our bank.  We then take GBP value of your deposit (less fee) - multiply it by whatever the exchange rate is for that currency (this is the exchange rate we got when we made our deposit - not the inter-bank lending rate) and create a BUY order for the resultant amount in the required currency at the target exchange. We only complete an order when we've consumed the full amount of fiat that we calculated the order was worth in the currency the exchange wallet is denominated in at whatever price is necessary to fulfill it. So technically, all or part of the order could (though unlikely) end up paying the exchange high price for that time period. When the exchange spits out a value to tell us how many coins we received for X fiat - we send you that value and record the details (which you can view in 'Recent Transactions' on our site).

We are designed to be a fast, reliable (hopefully) mechanism for purchasing BTC - but not necessarily the cheapest.

i appreciate your response. may i suggest that you avoid fiat currency exchanges for actual gathering of coins. EG mtgox/bitcoin central. as you have noted the exchange rates to dollars/yen is a headache. but instead contact bitpay/walletbit to be the UK currency provider. so that our GBP income pays for their coins so get coins using purely GBP and they receive GBP to send on to their british merchants.

[SBC]

Thank you both for your feedback. I've passed it on to the developers!

[Richy_T]

Careful how you spend your bitcoins here. There seems to be quite a serious bug in the allocation algorithm.

A little over 24 hours ago, I put £150 through. Two hours ago I tried to put another 150 through but because I was within the 24 hours, only 50 went through with 100 held back (fair enough). However, now that the 24 hours from the first 150 is up, my 100 is still being held. The status page seems to be indicating that it will be held until 24 hours from when the 50 trade went through. That's 22 hours away. I could lose quite a bit between now and then. Not a good bug to have.

Current price is £58.09191

[SBC]

I'm sorry you encountered an issue. Software being software, nothing is ever 100% perfect no matter how much testing it goes through. I've raised the issue to our development guys and they'll investigate and hopefully put a fix in place once they've identified the issue. Thanks for the heads up - the feedback is appreciated!

[Richy_T]

I'm sorry you encountered an issue. Software being software, nothing is ever 100% perfect no matter how much testing it goes through. I've raised the issue to our development guys and they'll investigate and hopefully put a fix in place once they've identified the issue. Thanks for the heads up - the feedback is appreciated!

Thanks. I appreciate the speedy response and all is good now with no harm done. Things don't always go right but it's how we respond to them that counts. Well done.

[xDan]

What sort of info is required for a "tailored" account? £200 seems a little low.

[Richy_T]

Really suffering from lack of information on the site now. The pound is up nearly 4c from a week ago so what exchange rate will be used? Also, with all the mess with Gox in the last couple of days, buying blind is too much of a crapshoot. Nice service when things are fairly calm though.

[SBC]

Apologies - completely missed the posts. Some new developments are in the pipe and (we hope) the feedback raised so far will be addressed. When is this coming? The developments are in QA at the moment...but all I can say with certainty is 'soon'

[recypha]

IMPORTANT: Please do not deposit funds at this time. We experiencing technical difficulties and as a result we are unable to process deposits. If you have made a deposit, please contact customer services. We apologise for the inconvenience.

11-06-2013 12:24 Engineers are working to resolve the issue, however we have been notified that it may take up to 48 hours to complete. Please do not deposit funds to us at this time.
We apologise for the inconvenience.

been hacked?

[curioushippie]

Hi,

I requested an invite on the 12th, would you be able to give me some idea of when I might get the invite? 

Thanks, looking forward to using your service.

[blaxxzor]

I would appreciate an invite please, thanks

[Bamdad]

Can I have an invitation code please?

[elzorrogris]

any change of a registration code?

thanks