Bitcoin7 a new exchange

[jkminkov]

started today, see some new deposit/withdrawal options

https://www.bitcoin7.com/?ref=5936

[Jered Kenna (TradeHill)]

Honestly, if this isn't a scam I'll be surprised.

The funniest part is I wrote most the text.
It's a complete rip off from TradeHill.com
They didn't even change the part about being incorporated in Chile....

Maybe a scam, maybe a rip off. Either way ripping someones code and text isn't the way to gain respect in this market.

If you trade on their exchange I'm sorry.

[Littleshop]

Honestly, if this isn't a scam I'll be surprised.

The funniest part is I wrote most the text.
It's a complete rip off from TradeHill.com
They didn't even change the part about being incorporated in Chile....

Maybe a scam, maybe a rip off. Either way ripping someones code and text isn't the way to gain respect in this market.

If you trade on their exchange I'm sorry.

I was noticing the copying of the text.  "navigating the international...."

A few things...  Where are the rates?  Do they really charge .25 % on Dwolla or 25 cents like most others?

I dove into tradehill right away due to the rep of the creator.  I am not so confident here but will wait and see before sending money. 

[davout]

No, we do not process any type of government backed fiat currency exchanges, nor do we provide money transmittal services. Bitcoin7 allows you to buy and sell digital commodities, and we use licensed and reputable currency exchangers and money transmittal services such as PayPal, Western Union, Moneygram, major banks and financial institutions, etc., to faciliate our transfers.

[jkminkov]

I was digging in Bulgarian registry agency, and saw that the owner of that LTD is a chief executive of a big software company with nearly 485K euro capital

probably you are right for the text, what I know* is that the site was coded in less than a week

* - sold them some coins

[davout]

I was digging in Bulgarian registry agency, and saw that the owner of that LTD is a chief executive of a big software company with nearly 485K euro capital

link ?

[jkminkov]

10 btc?

[Bitcoin7.com]

Hello,

I wanted to reply faster, we have just been whitelisted.

First of all thanks for posting about the site, it was a really hard first day. We are still working out the delays in withdraw/add funds, but everything is going
good and great and we think we will stabilize normal speed of operation within a day or two.

However, I have to admit that after reading Jered's post I am really ashamed. We contracted external copywriters for most of the texts on the side. Indeed there are 100% exact extracts from Tradehill (at least in English). It seems they have really misunderstood what "copywriter" means ... We certainly didn't want that to happen, originality and imagination is one of the most important thing when building up a web business.
After dealing with all the organizational problems we will work out all texts and compliment Jered.

We want to present another alternative and we are sure we will offer the best service to customers, you can even see that we allow transfers from MTGOX (if Tradehill agrees we can do that with them too). We see a great opportunity in Bitcoin7 and we really believe it is very important to diversify the markets on such early stage. For a decentralized currency we can't allow to have 90% of all transactions to go through 1 market...

We have the experience to do it. JKMinkov, your check is correct. The management of Bitcoin7 is the management of XS-Software.com, an international mio company in the gaming industry. We know virtual currency for quit a long time and we recognized the potential of Bitcoin. I hope we will be able to push Bitcoin7 to be a leading trading platform in the area of Bitcoins.

I hope even after the not so good start you will hear good words about us the following days.

Come and try us, some people made already AWESOME deals, taking advantage of the early start

[davout]

10 btc?

meh ?

[Sukrim]

Lowest Ask: 16.40, Highest Bid: 17.00

Also please write higher numbers in the instant buy/sell boxes (something like 999.99)!

Why does it cost 2-12 EUR to withdraw USD/EUR to an EU bank? I guess your books and accounts will be in EUR or BGN anyways?

By the way: "How it works?" sounds very Bulgarian! "How does it work?" might be better.

[foo]

What do you get for signing up with a referral code? I couldn't find any mention of that on the site.

[Sukrim]

A warm fuzzy feeling of helping someone else than the exchange operator as well when trading.

[jkminkov]

10 btc?

meh ?

don't you think that that kind of information is an insurance and those cost some $$ to acquire?

[ZEB-DEMON]

What do you get for signing up with a referral code? I couldn't find any mention of that on the site.

u just gift the referrer with double BTC u earn.. ponzi system

[davout]

10 btc?

meh ?

don't you think that that kind of information is an insurance and those cost some $$ to acquire?

ctrl+c, ctrl+v, that's not worth 10 btc, that's just stupid

[Bitcoin7.com]

1. Lowest Ask/Bid amounts are fixed. The translation strings were wrong. Please address such issues to info@bitcoin7.com, so we can respond immediately and fix the bug.

2. REFERRAL PROGRAM AT Bitcoin7: User A invites User B to register with his link
* User A:
  - will receive 20% of Bitcoin7's commission on each trade User B does. Lifetime

* User B:
  - registers regularly. There is currently no bonus. We are discussing options for adding bonus for the invited player as well.

3. Ponzi Scheme acquisation and explanation of the promo.
We suspected this might happen, that's why we created this page: https://bitcoin7.com/index.php?show=promo

The idea is that Bitcoin7 will not take commission in fiat currency (e.g. USD), but will give the commission (0.30%) to the person who buys the Bitcoins. This will be valid through 21. June as start promo. After that Bitcoin7's promo commission will be 0.30%

We do that as an incentive for the people who wish to invest in BTC. To get more buyers in the site.

At the moment we are working without profit, so the users can get the commission as bonus - for trusting us and starting to trade with us.

[jkminkov]

Why does it cost 2-12 EUR to withdraw USD/EUR to an EU bank? I guess your books and accounts will be in EUR or BGN anyways?

bulgarian bank taxes are ludicous, I think those taxes are somewhat wrong unless it is another bank they use for sending

it is 2 euro for under 500 transfer and 0,11% tax for larger transfer, minimum 12 euro/maximum 150 euro

[Sukrim]

What's worrying me FAR more than all these "scam" shouters:

Bitcoins in your account:
0.0022000000000002

ARE YOU USING FREAKIN' FLOATS TO STORE MY COINS?! 

Also only having 2 decimal places displayed is a little weird, considering that 1 BTC is still above 10 EUR currently. A Value of 19.9998 is displayed as "20.00" and I have no idea if this is now 20.00 or just 19.9998 rounded up to display only 2 digits after the decimal seperator.

[wizzard0]

What's worrying me FAR more than all these "scam" shouters:

Bitcoins in your account:
0.0022000000000002

ARE YOU USING FREAKIN' FLOATS TO STORE MY COINS?! 

Also only having 2 decimal places displayed is a little weird, considering that 1 BTC is still above 10 EUR currently. A Value of 19.9998 is displayed as "20.00" and I have no idea if this is now 20.00 or just 19.9998 rounded up to display only 2 digits after the decimal seperator.

Oh. That's rough.

I'd steer clear of any "currency processor" that is using floating point numbers, of whatever precision, and rounding. This is just laughable.

[Bitcoin7.com]

Sukrim,

We keep all data actually in different formats to ensure security + redundancy.

How data is kept and how it is displayed is a different thing. I agree with you that seeing such thing doesn't make any sense.
We will format the numbers better. For BTC we will use max 8 decimals to show and we will keep even more exact decimals on our records.

The 2 decimal places you talk about are probably in the tables with the current offers for Buy/Sell ? We think that 2 places for the fiat currency is more than enough. If we receive more feedback on that case changes are possible too.


@ EU bank transfer:
Bulgarian banks are indeed overcharging for SEPA transfers. We are now working out banking solutions in other EU countries to ensure the lowest fee for the end user.