Justcoin · Secure Bitcoin Exchange from Norway (BTC/EUR/USD)

[MayDee]

Bitcoin Vs. Fiat’s Best: The Norwegian Kroner

https://www.goldsilverbitcoin.com/bitcoin-vs-fiats-best-the-norwegian-krone/

[1713887876]

1713887876

[1713887876]

1713887876

[klausbl]

Hi all,

One of the most exciting payment networks is Ripple, which is being developed by OpenCoin Inc. Most active members of the Bitcointalk forum have been hearing about Ripple for the last six months from both XRP give-aways and heated discussions.

Last week we were given access to the source code, which allows us to operate a node in the Ripple network and stay up to date with the product development.

Running our own node and having a complete, local copy of the ledger means lower ping-times and greater stability, which we're sure the many Ripple enthusiasts of Justcoin will enjoy.

[akaman]

Running our own node and having a complete, local copy of the ledger means lower ping-times and greater stability, which we're sure the many Ripple enthusiasts of Justcoin will enjoy.

Ripple confuses me to the point of migraine setting in...

What is it more than an exchange of exchanges?

Is there any difference trading BTC.XRP on ripple.com vs. justcoin.com? (assuming I set justcoin as my exchange on ripple) Are the orderbooks exactly the same?

Also, is NOK.XRP coming to Justcoin?

[akaman]

Yes, when you trade BTC/XRP on Justcoin, you're using our order book which is made up of offers created by our customers. When you use the Ripple exchange, you're dealing only with the Ripple network.

I think my question was ill-phrased. For any currency conversion you need an issuer (and only one at a time). If I set Justcoin as issuer, then the same orderbook appears on ripple.com/client as on Justcoin:



so, trading with this orderbook either on ripple.com/client or justcoin.com is the same thing, correct?

Also, is NOK.XRP coming to Justcoin?

Not at this time. If we create every pairing of currencies, it would fill up your screen. That's why we always use BTC as the base pair (BTC/NOK, BTC/EUR, BTC/LTC, BTC/XRP)

I agree pairing every currency makes no sense. Justcoin is, however, the only exchange to offer entry to BTC from NOK, so NOK.XRP just makes sense as anyone entering from NOK otherwise have to convert to BTC and then to XRP.

In any case, suppose you were to support NOK.XRP, then could you answer this theoretical query:

Would supporting NOK.XRP mean you'd have to issue NOK IOUs which I could then theoretically trade for another currency (fiat or crypto) with a second exchange? (not that anyone else does so now, but that might change in the future)

To do so, I would have to extend a trust level with Justcoin up to the amount of NOK I wanted to trade. Also, I would have to extend trust for the EUR I'm buying from the other exchange. Suppose I then redeem my EUR for cash. Did the other exchange now just inherit my (theoretical) Justcoin NOK IOUs?

and this is where the migraine starts...

[fahrenheit451]

Hello, is there any way to change my password, I just cannot seem to find it? Thx

[canth]

can you provide the ripple gateway address for setting up a trust?

[klausbl]

can you provide the ripple gateway address for setting up a trust?

Hi canth, our Ripple address is rJHygWcTLVpSXkowott6kzgZU6viQSVYM1. I'm sorry this is not easy to find on our site, it is about the get fixed.

[canth]

can you provide the ripple gateway address for setting up a trust?

Hi canth, our Ripple address is rJHygWcTLVpSXkowott6kzgZU6viQSVYM1. I'm sorry this is not easy to find on our site, it is about the get fixed.

Thanks and I've got no problem with helping to improve the site! Just placed a trade for a few LTC/BTC.

[rebuilder]

Hi, the service looks good so far. One thing I'd like to see is the ability to leave orders pending, to be activated when the funds needed for them arrive. Pretty much like Gox does, or at least used to do it. For one, this would solve the issue of having to manually calculate how many BTC you can get at a given rate before placing the order. You could just enter a bid for, say, 10 BTC @ 100 EUR and only the portion of the bid you have funds to cover would go into the orderbook. If you had 900 EUR in  your account, this would create a "live" bid for 9 BTC and leave a bid for 1 BTC pending, for when you either deposit more EUR or sell BTC.

There are other ways to remove the need to calculate BTC amounts, like a "use all funds available" button when placing a bid, but this would also allow users to be a bit less hands-on with placing and removing bids as the market moves. It's pretty crude, and using a bot would be much more powerful, but for someone just trying to catch peaks and drops it would make things a lot easier, not having to manually add a bid every time a sell nets more EUR into one's account.

It can, of course, be a bit dangerous to have pending bids and asks, if you forget they're there... Also I seem to recall Gox removed or at least considered removing this type of feature as it was supposedly contributing to their lag issues. Still, maybe worth thinking about?

[lclc]

Your exchange looks promising. I might sell a few coins there.

I can't find any information about the legal part. Do you have an ok from the Norwegian state? Or just how likly is it that the your gorvernment gets pissed and freezes my coins?

[cyclops]

Your exchange looks promising. I might sell a few coins there.

I can't find any information about the legal part. Do you have an ok from the Norwegian state? Or just how likly is it that the your gorvernment gets pissed and freezes my coins?

+1

[akaman]

I can't find any information about the legal part. Do you have an ok from the Norwegian state? Or just how likly is it that the your gorvernment gets pissed and freezes my coins?

By precedent, extremely unlikely. In my view, you would not be at more risk holding fiat/crypto with Justcoin than fiat in a Norwegian bank.

Norwegian authorities have been cited in several Norwegian outlets as actively working on taxation issues concerning bitcoin. Here's an official at the Norwegian Tax Administration in early September:

"Bitcoins has many similarities with common currencies, although they do not fall under the definition [as a currency] in the currency law. With regards to tax law, however, bitcoins is an economic asset with economic benefits that can be derived or lost."

Source: http://e24.no/digital/norske-myndigheter-vil-skattlegge-bitcoins/21526987

Thus, by definition, income derived by trading bitcoin is taxeable in Norway. I do not think that you, as a non-Norwegian citizen trading on a Norwegian exchange (i.e. Justcoin), necessarily would need to pay income/capital taxes to Norway. That would depend on other things such as your residence status, tax treaty between Norway and your own country etc. You probably should be more concerned whether bitcoin related income is taxeable in your own country of residence.

If it so happened that you should have paid taxes to Norway, but chose not to, or (say) you used your Justcoin account for illicit purposes (money laundering, buying/selling drugs/weapons aka Silk Road, gambling etc) it is of course theoretically possible that a court could order your account closed and/or confiscated. But that would presumably be the case anywhere in the world.

Finally, the Justcoin founders have discussed their correspondence with the Norwegian Tax Administration openly here on Bitcointalk and they implement KYC (Know Your Customer) verification on their user's accounts. It is also my impression (think they mentioned that in a post in here once) that they receive professional legal advice. Thus, they appear to be on top of their legal requirements.

Happy trading!

Disclaimer: I am not affiliated with Justcoin.

[MayDee]

Good publicity @ http://www.coindesk.com/hunger-bitcoin-grows-scandinavia-regulatory-approach-evolves/

[lclc]

Hi

I've registered on your exchange, but so far there are two points which I'm not happy with:

- Receiving a SMS for verification didn't work (robot call did)
- I miss a widget on the top with the last price, high, low and volume

Would be cool to have these fixed. Especially the first one, since that is quit annoying for new customers.

Edit: You may also add yourselfe here: https://en.bitcoin.it/wiki/Buying_bitcoins

[akaman]

- I miss a widget on the top with the last price, high, low and volume

+1

Would be nice with these statistics on top of the page, rather than browsing to Trade - Currency - Stats and read it out of the graphs.

Another option would be the drop-down header bar with the graph that unregistered users see on the home page, ala Gox style.

[akaman]

Its been a busy November with many BTC exchange hacks (bidextreme.pl, bips.me, coinlenders.com, inputs.io, more?).

I hope Justcoin takes note of the events and work on improving the site's security. Here are some suggestions that may improve things further:

Front-end improvements (per user options):
 - Email verification to complete withdrawals
 - Email notifications when withdrawals are initiated
 - SMS verification as an option to email verification
 - Disallow withdrawals to non-registered bitcoin addresses
 - Stricter KYC implementation

Back-end improvements (requested by user, enforced by admin):
 - User adjustable cold wallet; allow individual users to decide what proportion of funds to set aside for Justcoin's cold wallet (updated weekly/daily)
 - Freeze assets, e.g. disallow a proportion of NOK/EUR/USD to be used for trading (updated weekly/daily)
 - Disallow API access for non-registered IP addresses

These are mostly security measures by obstruction. They may serve to force any wrongdoer to jump through a few extra hoops to run away with a large cache and give users additional time to react.

[BitcoinObmen]

Yesterday I registered on Justcoin.com and deposited few bitcoins. In about a hour, I've tried to logon, but my password didn't matched.
Well, I've passed to  [Reset your password]  https://justcoin.com/client/#auth/resetpassword link, and filled in my email. I received a message with the reset link. Then, there was no a common window "type in new password", instead there was a message saying smth like "close it & return" to the previous window...
I had several tabs opened, so, maybe I closed a right one, and returned to the wrong.
So, my password was not changed & I'got no message to email...

Well, I just retried to use [Reset your password] link but now it answered
"Sorry, but you tried to reset your password not long ago. Try again later or contact support@justcoin.com."

I wrote to support@justcoin.com, but still (15 hours passed) got no reply. 

[akaman]

New blog post: Celebrating 10,000 users with a re-design

Congratulations!! The design update is definitely an improvement.

I was hoping for a few revamped features as well:

Manage Accounts page doesn't allow to delete or modify existing accounts.
BTC/NOK Candlestick graph is still not breaking down data per day.
Too many decimals on fiat (e.g 5 decimals on NOK on top of page; 3 decimals in buy/sell charts).
Active orders are now to be found under Order History, which is a bit misleading. Perhaps you should put back the link to Active Orders, and maybe separate Active and Past orders on two different pages.
Did you take away the option to download a CSV file of transactions?
 

[poordeveloper]

I can't see the withdrawal fees (SEPA outside Norway) in your website. Is it possible to request such a withdrawal? And if so, what are its fees?

[akaman]

I can't see the withdrawal fees (SEPA outside Norway) in your website. Is it possible to request such a withdrawal? And if so, what are its fees?

See https://justcoin.com/en/terms

SEPA withdrawals are 5.00 EUR and non-SEPA (to European account) 10 EUR.