keatonatron (OP)
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Activity: 308
Merit: 250
Jack of oh so many trades.
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April 12, 2013, 05:41:44 AM |
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I just checked out Bitcoin-24 for the first time.
How are they able to operate with no trading fees?
We've all said the fees are getting to be too high with the higher price of BTC... but no fees at all? I don't know if that's a good thing or not.
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1KEATSvAhbB7yj2baLB5xkyJSnkfqPGAqk
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Grinder
Legendary
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Activity: 1284
Merit: 1001
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April 12, 2013, 08:14:40 AM |
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It could be to build market share, but I agree that it is suspicious. There are problems receiving withdrawals as well lately, so I wouldn't put very much money there.
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stephwen
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Activity: 83
Merit: 10
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April 12, 2013, 09:15:17 AM |
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It could be to build market share, but I agree that it is suspicious. There are problems receiving withdrawals as well lately, so I wouldn't put very much money there.
There were delays last week/beginning of this week, but everything seems to be fine now. |
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Grinder
Legendary
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Activity: 1284
Merit: 1001
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April 12, 2013, 09:41:05 AM |
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No, it doesn't. Some people got their money, and some didn't.
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dutt
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April 12, 2013, 09:45:17 AM |
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I think it runs as a non-profit and relies on donations. Don't use it though, bad experiences with them.
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Herodes
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April 12, 2013, 09:50:22 AM |
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Intersango also ran with zero fees...
I think fees are important, because it makes an income for the exchange, and then they have money for security, hosting, upgrades and so on.
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pat1900
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April 12, 2013, 10:35:37 AM |
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I deposited and withdrew Euros to/from bitcoin-24 several times and there was absolutely no delay. And he charges only the fees the bank charges him.
This guy indeed runs his exchange on a donation basis and obviously has done quite well for some time now.
Trading at bitcoin-24 is quite fun BUT always keep an eye on the history log. If you notice any irregularities you better withdraw your funds as quickly as possible. He frequently makes a few little changes to his exchange software and then doesn't test the software properly. That's why his site got hacked twice in the past. There were no unsolicited withdrawals as there is a quite clever withdrawal procedure. Instead, the intruders were able to sell your bitcoins cheap and then buy expensive using your account (while they bought cheap and sold at a profit on their account at the same time). What things makes worse is it seems all his software is written in PHP only. This also gives cause for concern.
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USD: 0.000 BTC ▶ EUR: 0.000 BTC ▶
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shantee
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April 12, 2013, 12:33:30 PM |
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The engine is stealing money to some people and giving to others ! This platform is a big mess !
It also takes ages to withdraw your funds... I transfered 40btc to my cold wallet , i am waiting i am waiting, but their hot wallet is always empty...
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Amitabh S
Legendary
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Activity: 1001
Merit: 1003
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April 12, 2013, 12:44:41 PM |
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Now the service is down and my funds are stuck. Whats going on.
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BenTuras
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April 12, 2013, 12:48:05 PM |
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Now the service is down and my funds are stuck. Whats going on.
He is probably trying to fix the problems and roll back/correct the faulty transactions. |
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Amitabh S
Legendary
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Activity: 1001
Merit: 1003
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April 12, 2013, 01:12:08 PM |
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Now the service is down and my funds are stuck. Whats going on.
He is probably trying to fix the problems and roll back/correct the faulty transactions. Well he needs to tell us what he is doing. I've had enough speculation already. |
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fivemileshigh
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April 12, 2013, 08:25:50 PM |
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Service appears to have been shut down by their polish bank. No word how/when refunds will proceed.
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candoo
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April 12, 2013, 08:35:00 PM |
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Einer trage des andern Last, so werdet ihr das Gesetz Christi erfüllen.
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Blindfolded
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April 12, 2013, 09:00:19 PM |
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lol - sorry, couldnt resist.. |
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Amitabh S
Legendary
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Activity: 1001
Merit: 1003
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April 12, 2013, 09:01:50 PM |
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yes right no fee. Send us all your bitcoins and fiat. We have NO FEE!
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hamdi
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April 12, 2013, 09:04:29 PM |
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i only had good experiences with BITCOIN-24.com
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RationalSpeculator
Sr. Member
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Activity: 294
Merit: 250
This bull will try to shake you off. Hold tight!
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April 12, 2013, 09:33:49 PM |
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I love bitcoin-24. Donation based business model is to the benefit of users and producers. Users pay only after they got value, and can decide themselves how much they will give back, and feel good about paying. And producer gets money that also shows appreciation. That's what I like about the bitcoin community that a lot is based on donations. An exchange based on donations is a dream come true. Ofcourse bank account closures by government and technical failures happen, also to other exchanges with an expensive and obligatory % fee business model. Personally I had very good experiences with bitcoin-24 as well as some issues that the owner Simon resolved very well and took responsibility for. I tell more detail about that in this thread: https://bitcointalk.org/index.php?topic=167802.msg1755350#msg1755350 |
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Amitabh S
Legendary
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Activity: 1001
Merit: 1003
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April 12, 2013, 09:35:52 PM |
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Is Simon a member here? Is there any Bitcoin-24 staff here. Its good to hear that they have resolved issues in past? What was the turnaround time? Was he as uncommunicative in the past as he is now?
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Herodes
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April 12, 2013, 09:40:15 PM |
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He frequently makes a few little changes to his exchange software and then doesn't test the software properly. That's why his site got hacked twice in the past.
Uh oh.... |
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RationalSpeculator
Sr. Member
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Activity: 294
Merit: 250
This bull will try to shake you off. Hold tight!
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April 12, 2013, 09:51:22 PM |
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Is Simon a member here? Is there any Bitcoin-24 staff here. Its good to hear that they have resolved issues in past? What was the turnaround time? Was he as uncommunicative in the past as he is now?
Yes, he is not good at communication. He doesn't seem to answer emails that he thinks will be solved in some time. More info about my experience with him here: https://bitcointalk.org/index.php? |
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