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Author Topic: Bitcoin7.com - Brand new exchange market!  (Read 26857 times)
finnthecelt
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June 16, 2011, 10:23:57 PM
 #101

Condemn them for that I guess....

Perhaps I wasn't very clear.  I was trying to point out that if Bruce's was trying to say that Bitcoin7 did something wrong, he didn't have a strong case, after all his hyping (and payoff?!) from TradeHill.

Personally I don't think there's anything wrong with the promotions in either case.  There are clearly issues with Bitcoin7 (technical, and their responses in forums), but unethical promotion isn't one that I would hold against them based on Bruce's word, particularly after his TradeHill introduction and misleading people (intentionally or unintentionally) that he was the site's creator.

My apologies jerfelix, I wasn't directing that towards you......it was generally speaking.
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Nescio
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June 17, 2011, 06:15:58 AM
 #102

in Britcoin we trust...

I originally read that as proactively seeking regulation from the government (like I'm thinking about going to the local tax office to get their stance on Bitcoin before I jump into it), but you are right it could be read that they don't have the necessary paperwork yet either. I guess the main difference is that they didn't rip off Tradehill, or tried to grease luminaries.

Quote from: jkminkov
and for the record I don't trust someone called Amir, as you don't trust a Bulgarian.

If that's aimed at me, maybe that was lost in the sarcasm (because bitcoin7 was pulling the same slur) but I specifically said I don't trust the person/organization, not the country. But you're right, Amirs can't be trusted Grin

Quote from: finnthecelt
I guess we should start boycotting the products that athletes promote. ...

Apples and Oranges. A better analogy would be pharmaceutical companies greasing doctors to recommend their brands instead of (cheaper) generic drugs. Bribing someone famous is not quite the same as bribing someone in authority, or bribing the news anchor. Someone you don't just want to, but *have* to trust, or expect to be impartial, or at least upfront about it.

Quote from: jerfelix
Bruce,

Weren't you offered money to push TradeHill too?  Seems they are a sponsor of your podcast, and you actually pushed them on a thread with your referral code.  So much that people in the original thread thought that YOU were the creator of TradeHill (and I have heard and read that confusion from MULTIPLE people on here).

Didn't sound like he was offered a sponsor deal, although Bruce obviously isn't impartial here. Still, he was upfront about the Tradehill sponsoring on the show, nothing wrong with that. The confusion about him being the proprietor was started by someone possibly referring to Jered as 'very trusted member of the community', and someone else combined the OP with that. Bruce did set the record straight fairly quickly (it's hard to follow everything here as it is, I'm sure he's busy enough already).

Quote from: finnthecelt
I think this whole, "I was offered money" is being taken out of context. I was also contacted by B7 and was "informed" that their service provides a referral bonus.

That sounds quite benign (basically same deal as Tradehill for the referrals) but doesn't mention money, it should be interesting whether Bruce (and Jeff Garzik) got the same message.
jgarzik
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June 17, 2011, 06:44:54 AM
 #103


I was not offered a referral bonus.

I was offered money, specifically, to say that bitcoin7 was better than mtgox. 

The text of the email has already been posted.


Jeff Garzik, bitcoin core dev team and BitPay engineer; opinions are my own, not my employer.
Donations / tip jar: 1BrufViLKnSWtuWGkryPsKsxonV2NQ7Tcj
Nescio
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June 17, 2011, 07:53:37 AM
 #104

Ah, somehow missed that one (post#27 in this very thread).

I would guess Bruce got a similar offer then. Bad show bitcoin7.
jkminkov
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June 17, 2011, 11:21:53 AM
 #105

They have never heard of AML, and are run by unknowns from Bulgaria.

do you know that anyone dealing with Liberty Reserve is failing AML guidelines even he claims otherwise?

Bleutrade
600 dollars in one place talking - Dudes, hooray, Bitcoin against us just one, but we are growing in numbers!
sonba
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June 18, 2011, 09:12:54 PM
 #106

Funny story? Bitcoin 7 cancelled some of my trades. This exchange is supposed to be an instant trade market like MtGox or Britcoin. So, one advantage is that you cannot reverse a trade. But that's exactly what they did. Somebody bought from me well above market, trade got through and got revorded (you can still see it in Bitcoinchart history for instance) they credited me with the money and took my BTC. I lock in today again - I got my BTC back but the money got refunded. WTF?Huh
I'm writing them a mail - but for the time being I can only say - stay away from Bitcoin7!
finnthecelt
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June 19, 2011, 03:46:11 AM
 #107

Funny story? Bitcoin 7 cancelled some of my trades. This exchange is supposed to be an instant trade market like MtGox or Britcoin. So, one advantage is that you cannot reverse a trade. But that's exactly what they did. Somebody bought from me well above market, trade got through and got revorded (you can still see it in Bitcoinchart history for instance) they credited me with the money and took my BTC. I lock in today again - I got my BTC back but the money got refunded. WTF?Huh
I'm writing them a mail - but for the time being I can only say - stay away from Bitcoin7!

I don't understand. You sold BTC and received money but they took the BTC? What about the counterparty? What did they receive?
sonba
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June 19, 2011, 08:24:00 AM
 #108

Sorry, poorly explained. I started with 4 BTC and 0 money. I sold the 4 BTC for lets say 10money. New balance: 0 BTC, 40 money. Next day I check it and balance is suddenly again 4 BTC and 0 money.
No clue about the counterparty as it is an anonymous exchange (like MtGox). All I can say is that they reversed a reasonable trade without notifying me, which is a serious issue for me. How can I trust in dealing with them if they reverse deals from me? That's ridiculous. Never seen anything like this happen at a serious exchange (NYSE, Scoach, MtGox...). Makes me stop trusting those guys.
finnthecelt
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June 19, 2011, 06:00:27 PM
 #109

Sorry, poorly explained. I started with 4 BTC and 0 money. I sold the 4 BTC for lets say 10money. New balance: 0 BTC, 40 money. Next day I check it and balance is suddenly again 4 BTC and 0 money.
No clue about the counterparty as it is an anonymous exchange (like MtGox). All I can say is that they reversed a reasonable trade without notifying me, which is a serious issue for me. How can I trust in dealing with them if they reverse deals from me? That's ridiculous. Never seen anything like this happen at a serious exchange (NYSE, Scoach, MtGox...). Makes me stop trusting those guys.

Is this transaction in your account history? Can you post that image?
sonba
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June 19, 2011, 10:05:59 PM
 #110

It was in my account history, now it's gone. I only copied numbers for internal bookkeeping, didn't make a screenshot Sad I screenshotted Bitcoincharts today, though, who recorded that trade. Will keep you updated on how it is being resolved.
saqwe
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June 19, 2011, 11:53:22 PM
 #111

actually i found them very pleasant to deal with

especially for euro-users

Nescio
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June 20, 2011, 01:36:48 AM
 #112

More sock puppets?

According to the charts b7 hasn't done more than 1 BTC every day since they went live. Or their API for this is broken too Smiley

They already had CSS history, CSRF, I wonder when they'll be SQL injected too.
bradminer
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June 23, 2011, 08:41:28 AM
 #113

12/22 euro each EUR withdraw to SEPA account.... to much for me I prefer 2% of MtGox also taking USD/EUR change risk..
jkminkov
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June 23, 2011, 12:46:21 PM
 #114

for transfers bigger than 1100 euro, that 22 euro tax goes cheaper than 2% flat fee

Bleutrade
600 dollars in one place talking - Dudes, hooray, Bitcoin against us just one, but we are growing in numbers!
finnthecelt
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June 23, 2011, 01:07:00 PM
 #115

A data point.

I've used them yesterday:
    - send 100 euros with SEPA wire. Money showed up in account within a day.
    - traded euros against BTC
    - send the BTC to my wallet

On the plus side:
    - Everything worked fine.
    - The site is fairly respoonsive and easy to use
    - They (for now) seem to be honest
    - You can wire trade EUR for BTC directly, a giant plus compared
       to both TradeHill and MtGox

On the minus side:
    - They seem to have ripped the HTML from TradeHill. Probably not an illegal
       move, but something that doesn't speak well for their business ethics
    - The trading volume is very small, and a medium-sized trade will move
       the market a lot.
    - They're based in Bulgaria, a place particularly reknowned for shady internet
       business practices.
    - They tried to bribe old standing member of the bitcoin community to promote
      their site. Probably something that's considered a normal/acceptable business
      practice in the backwater hellhole they operate from. It might take them some
      time adjusting to international market expectations.

One thing I haven't tried yet is take EUROS out of there with a SEPA wire
from their account to mine.

My recommendation: they seem legit, but I wouldn't trust them with more than
~100 euros worth of my money at a time:
      1. Send value (either EUR or BTC)
      2. Trade
      3. Take value out immediately


Most all that has been covered. Glad it went well for you.

You know I would have no problem trusting them with 100 of your euro anytime!!!    Tongue
bradminer
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June 23, 2011, 01:18:28 PM
 #116

for transfers bigger than 1100 euro, that 22 euro tax goes cheaper than 2% flat fee
of course I ususly change 2/3 BTC: sell and move to my bank account.

I don't want to take the risk to leave money on any BTC market. IMHO Wink
sal002
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June 24, 2011, 04:43:04 PM
 #117

So I noticed it said Dwolla / LR withdrawals are halted - any word on the issue or when they will resume?

Find the coin to mine (with JSON API and charting) at http://www.coinchoose.com
http://www.multipool.in - Always mine the most profitable coin
finnthecelt
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June 24, 2011, 06:04:33 PM
 #118

So I noticed it said Dwolla / LR withdrawals are halted - any word on the issue or when they will resume?

Unknown. It's in Dwolla's hands.
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June 24, 2011, 06:15:05 PM
 #119

for transfers bigger than 1100 euro, that 22 euro tax goes cheaper than 2% flat fee
of course I ususly change 2/3 BTC: sell and move to my bank account.

I don't want to take the risk to leave money on any BTC market. IMHO Wink

i can't recommend wiring via sepa from sofia
12 euros fee on my 19 euro withdraw..

jkminkov
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June 24, 2011, 09:28:28 PM
 #120


of course I ususly change 2/3 BTC: sell and move to my bank account.

I don't want to take the risk to leave money on any BTC market. IMHO Wink

I finally found why those transfers were 15 days delayed, it's because of your spam withdrawals...

Bleutrade
600 dollars in one place talking - Dudes, hooray, Bitcoin against us just one, but we are growing in numbers!
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