[BitFunder] btcQuick - Bitcoin Sales Service

[FPCN]

BTCquick is not accepting US customers? WTF?

@btcQuick I went to the website today and it says that you are no longer selling to US customers.  What's up with that?

https://twitter.com/sami1222/status/432984944818671616

[FPCN]

Also the SELL button disappeared.

Ascension, please give us some updates.

[Ascension]

BTCquick is not accepting US customers? WTF?

@btcQuick I went to the website today and it says that you are no longer selling to US customers.  What's up with that?

https://twitter.com/sami1222/status/432984944818671616

It called regulation, FinCEN, Money Transmitter Licensing.

[Ascension]

Also the SELL button disappeared.

Ascension, please give us some updates.

The sell bitcoin feature has never been a "live" feature.

[Ascension]

Any updates about the dividends?
Is ascension alive?

Dividends are only issued when there is profit. We are doing our best here but it seems the large cost to acquire licenses in every state is just not feasible and takes almost 2 years to do. While we can focus our efforts to servicing international customers this requires an entity outside the U.S.A., a bank account outside the u.s.a. and a merchant account outside the u.s.a.

[sparky999]

Any updates about the dividends?
Is ascension alive?

Dividends are only issued when there is profit. We are doing our best here but it seems the large cost to acquire licenses in every state is just not feasible and takes almost 2 years to do. While we can focus our efforts to servicing international customers this requires an entity outside the U.S.A., a bank account outside the u.s.a. and a merchant account outside the u.s.a.

So what your saying is the company is about to go bankrupt?

[Komodorpudel]

Any updates about the dividends?
Is ascension alive?

Dividends are only issued when there is profit. We are doing our best here but it seems the large cost to acquire licenses in every state is just not feasible and takes almost 2 years to do. While we can focus our efforts to servicing international customers this requires an entity outside the U.S.A., a bank account outside the u.s.a. and a merchant account outside the u.s.a.

So what your saying is the company is about to go bankrupt?

Yeah; it sounds like "it is over guys"...so ascension:
Are there any plans for the short/longterm survival of btcquick?

[ivroer]

Yeah; it sounds like "it is over guys"...so ascension:
Are there any plans for the short/longterm survival of btcquick?

I don't think it's necessarily "over", I think we have to focus on what market btcQuick can service that others can't. Yes the brokerage stream could be a lot bigger with allowing US bank payments...

Wasn't btcQuick originally founded on the concept of using a credit card rather than bank transfer? I assumed the main reason for people wanting to buy bitcoin with a credit card was because they can't be serviced by the likes of Coinbase where you need a US bank account (read: international customers).

I think btcQuick can still offer a much needed alternative for international buyers who want to buy small amounts (e.g. wire fees are prohibitive) and don't want to pay a big premium on LocalBitcoins (some countries have very limited offerings). Even with the 5 - 7% credit card premium on btcQuick it's often cheaper than the going rate on LocalBitcoins in some countries.

I'd be interested if we could get some approximate stats for the customer base and their country of residence.
Ascension? Any chance some stats could be shared, if not on here - then perhaps in the investor portal?

[shadallion]

Kissing my BTC goodbye on this one.  Lesson learned.   I only had 17K shares; feel really bad for guys who put 100 BTC into this. 

Hopefully something can be salvaged eventually. 

[thy]

Any updates about the dividends?
Is ascension alive?

Dividends are only issued when there is profit. We are doing our best here but it seems the large cost to acquire licenses in every state is just not feasible and takes almost 2 years to do. While we can focus our efforts to servicing international customers this requires an entity outside the U.S.A., a bank account outside the u.s.a. and a merchant account outside the u.s.a.

So what your saying is the company is about to go bankrupt?

Yeah; it sounds like "it is over guys"...so ascension:
Are there any plans for the short/longterm survival of btcquick?

I think that what Ascension is trying to say is more like that it might take a month or two to set up working conditions for selling bitcoins to all international costomers except those from the USA.
There is other people who themself and there rather large company is based in USA that sells BTC for fiat throu CC for example, should probably work just as fine with wire/SEPA tranfers and simular to, as long as the servers is outside of USA and you have everything thought throu and don't sell BTC to US citicen it should be alright and FinCEN will have nothing at all to complain about.

[mumung]

and why isn't he the one telling us that?

[joele]

Hmm, I smell bankruptcy declaration soon. I hope I'm wrong.

[thecoinjournal]

International market is big though. Hope the team can make it.

[superbit]

There is now way they burned through all the BTC they were given.

[BitThink]

A lot of BTC was paid to lawyer and seems the advice was stop serving US residents. What a useless and expensive advice.

[wang_yan]

A lot of BTC was paid to lawyer and seems the advice was stop serving US residents. What a useless and expensive advice.

 

[thecoinjournal]

BTCquick got 500K USD investment from Panama Fund? https://www.btcquick.com/info/about_us

[HeRetiK]

BTCquick is not accepting US customers? WTF?

@btcQuick I went to the website today and it says that you are no longer selling to US customers.  What's up with that?

https://twitter.com/sami1222/status/432984944818671616

It called regulation, FinCEN, Money Transmitter Licensing.

So, what are your plans for BTCquick? Are you going to do anything about this? Or are you giving up on the US market mid- to long-term?

[FPCN]

Ascension should disclose more infos to the investors.

[shadallion]

The question "Where did all the money we invested GO?" needs to be answered. 

Don't just come on here completely meek, beaten and whiney.  Show some goddamn spine. 

What are your PLANS?