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Author Topic: Bitfloor a good place to trade?  (Read 1241 times)
SZD
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April 12, 2013, 04:14:54 PM
 #1

Anyone have recent experience with them? Wondering if my $$ is going to be safe or if it would be used to pay back hack victims.
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RandomQ
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April 13, 2013, 01:22:15 AM
 #2

I've done 5 digit trades with them in the last 30 days. everything has gone great

But there is risk involved because I don't think they have repaid the hack victims yet.
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April 13, 2013, 04:36:08 AM
 #3

I've done 5 digit trades with them in the last 30 days. everything has gone great

But there is risk involved because I don't think they have repaid the hack victims yet.

So by depositing there you are lending money to someone with a record of not paying their debts.

You are a warlord in the outskirts of the known world struggling to establish a kingdom in the wild lands.
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April 13, 2013, 01:39:06 PM
 #4

I've done 5 digit trades with them in the last 30 days. everything has gone great

But there is risk involved because I don't think they have repaid the hack victims yet.

So by depositing there you are lending money to someone with a record of not paying their debts.

Yes, but the service they offer is worth the risk to me.


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April 14, 2013, 04:57:10 AM
 #5

Right now they trade at always a 10% higher price than any other exchange because they are the only exchange that allows low-fee cash deposits. There is no way for my to get my money off bitfloor unless I send my bitcoins off to another exchange with loss.

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SZD
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April 14, 2013, 05:54:29 AM
 #6

Right now they trade at always a 10% higher price than any other exchange because they are the only exchange that allows low-fee cash deposits. There is no way for my to get my money off bitfloor unless I send my bitcoins off to another exchange with loss.

What do you mean? They have ACH bank transfer don't they?
gweedo
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April 14, 2013, 06:01:44 AM
 #7

They were hacked, cause of the stupidity of the owner by leaving a cold storage wallet open and lost about ~25,000BTC so I wouldn't use them until they pay back the people they ripped off.

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April 14, 2013, 08:51:46 AM
 #8

Anyone have recent experience with them? Wondering if my $$ is going to be safe or if it would be used to pay back hack victims.

I would not trade @ Bitfloor.
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April 15, 2013, 02:49:48 AM
 #9

This is just my opinion.

I have been using bitfloor since February. I have found that I like their interface more than that of MtGox.  (I use MtGox also.)
Their customer support responds to my emails within 24 hours. They are a bit snarky at times, but given that they have consistently gotten back to me in 24 hours or less, I can accept that these guys got their degrees in computer science and not hospitality.

Also, in you live in the USA, it is easy to fund your trading account on Bitfloor. You can use LocalTill and make an in person deposit at any Bank of America, and your funds will be in your account in less that 40 minutes.

I have no financial interest in Bitfloor and do not know any of the owners, but I do recommend Bitfloor. (I also use MtGox and CampBX.com )


EDIT: This addition is being written on 4/17/2013 at 10:20 PM EST.
Bitfloor shut down. I did enjoy using Bitfloor. But, now, they shut down and they owe me money.
Guess I was wrong about what I said about about trusting Bitfloor.




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Han
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April 16, 2013, 04:57:15 PM
 #10

Part of your money, if you mean the trading fees, is being used to repay the hack victims. Roman has made 2 repayments so far, totaling 2.7% of the total, so he still has a while to go.
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April 18, 2013, 01:12:01 AM
 #11

Part of your money, if you mean the trading fees, is being used to repay the hack victims. Roman has made 2 repayments so far, totaling 2.7% of the total, so he still has a while to go.

Aaaand he just closed shop:

Quote from: bitfloor
I am sorry to announce that due to circumstances outside of our control BitFloor must cease all trading operations indefinitely.
ramus313
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April 18, 2013, 12:12:21 PM
 #12

Not anymore, their Us bank account just got closed, and it looks like they are shutting down.
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