Wall Observer BTC/USD - Bitcoin price movement tracking & discussion

[derpinheimer]

I was complaining to CampBX on chat about their lack of volume. They responded "We don't think we have low volume." I pulled all my BTC out an hour later. F@!$%ng amateurs.

Why would you complain about that? Clearly its a tiny exchange.

They've been around for three years! You'd think they'd reduce their trading fees or court VCs to expand or something. They just don't act hungry for my business.

Ah, I didnt realize the fees were so high:

Our trade commissions are:
Quick Sell / Buy: 0.55% (Volume discounts available)
Advanced Orders: 0.55% (Volume discounts available)

Thats pretty bad...

Only Gox was worse, and that was only for the lowest tier traders.

[slovenc]

On Bitfinex i think are the lowest fees 0.15% per buying and selling.
and if u wanna trade a lill bit more risky, you can choose to margin trade where a leverage is 2.5:1.

[oda.krell]

    Yeah thanks for that mmitech, I too have been concerened with the upload ability with the support tickets but its good to know the feelings of someone who has even spoken to these guys.

   The thing to think about though is these slight vunerabilities absolutely and categorically should not be present. These exchanges are dealing with hundreds of millions of dollars there is no excuse for not having seperate support servers, updating people when there was an obvious glitch and pushing out updates to a live environment. If they cant invest a small % of the HUGE amounts of money they are making then it beggars belief, it gives the whole industry a cowboy look because at the end of the day these exchanges werent built by financial programming experts and aren't run by people qualified to run global business' that deal with such vast sums.


All the current exchanges will be dead in the water once a US based proffessional exchange is released. There is literally no reason to continue to use bitstamp et al once this happens. The only exception really is btc-e who will continue to cater for the people not prepared to give out any identification.

I agree with your main point (current exchanges are target for the next generation of more professional ones), but I really think you underestimate the reputation hit the US has taken in recent years. From arbitrary "anti terror" laws, to a pretty ambivalent stance (in my view) to Bitcoin as a whole, I personally would be, given the current climate, extremely unlikely to put my money into an US exchange. Not that I'm stoked about Slovenia either, but right now, I have (from a political point of view) more confidence that the EU won't arbitrarily decide to seize all assets of a properly run exchange* because of some fake anti-terror/anti-drug reasoning when compared to the US.

* "properly run" is, I'm well aware, a fuzzy term. My point is that I see the US as more aggressive in pursuing AML than the EU, on average.

[mmitech]

while some of you think that Bitstamp employees are not "qualified" I can add this, Nejc Kodric the CEO and founder is not an IT guy,  he has Economics Management college degree, while the Top IT programmers behind the system are leaded by Damian Merlak also a qualified person.

I can also share few information you may not know allot about Bitstamp, last year (mid year) when I visited their offices they had around 7 employees (or so), not long ago when I talked with Nejc he told me they had more than 15 and quickly expanding, and now I know that they are recruiting even more and I also know that they are looking only for high potential and talented employees.

there is also Hazek the moderator on this forum for economics and general discussion, he is the leader of the support team.

Bitcoin did raise so fast, in fact explode is the right word, big companies like Bitstamp are in a race with this growth, if you think that banks or economical companies can do better than most businesses around, I can tell you that you are wrong, this guys that run bitstamp have many developers that were around Bitcoin since 2010, so if you think that a monkey who works at a bank would understand better than someone writing code around bitcoin since 2010 you are so wrong.

I like that Nejc is not an IT guy and he is involved in management and Economics, I also like his approaching, by hiring professionals the second his exchange started taking off.


this wont be easy time for bitstamp, now they have a huge growth opportunity after gox death, and they have to explode at the same rate Bitcoin is doing, this is why I was applying for job, and BTW this is why I sent my resignation letter even if they didnt have a meeting with me or accept my application, and even if they dont, I am sure that I can add something to this community.


  

[av123]

   Yeah thanks for that mmitech, I too have been concerened with the upload ability with the support tickets but its good to know the feelings of someone who has even spoken to these guys.

   The thing to think about though is these slight vunerabilities absolutely and categorically should not be present. These exchanges are dealing with hundreds of millions of dollars there is no excuse for not having seperate support servers, updating people when there was an obvious glitch and pushing out updates to a live environment. If they cant invest a small % of the HUGE amounts of money they are making then it beggars belief, it gives the whole industry a cowboy look because at the end of the day these exchanges werent built by financial programming experts and aren't run by people qualified to run global business' that deal with such vast sums.


All the current exchanges will be dead in the water once a US based proffessional exchange is released. There is literally no reason to continue to use bitstamp et al once this happens. The only exception really is btc-e who will continue to cater for the people not prepared to give out any identification.

I agree with your main point (current exchanges are target for the next generation of more professional ones), but I really think you underestimate the reputation hit the US has taken in recent years. From arbitrary "anti terror" laws, to a pretty ambivalent stance (in my view) to Bitcoin as a whole, I personally would be, given the current climate, extremely unlikely to put my money into an US exchange. Not that I'm stoked about Slovenia either, but right now, I have (from a political point of view) more confidence that the EU won't arbitrarily decide to seize all assets of a properly run exchange* because of some fake anti-terror/anti-drug reasoning when compared to the US.

* "properly run" is, I'm well aware, a fuzzy term. My point is that I see the US as more aggressive in pursuing AML than the EU, on average.

Of course the EU is where we saw a mandatory bail-in of depositors' funds so who knows what could happen in a given jurisdiction if SHTF.

[UnDerDoG81]

I´m safing my Bitcoins on a paper wallet now and am a total noob. Can I ask here some questions?

How long does it take to transfer the coins from Bitstamp to the Paper Wallet? I just made a test transfer 15 minutes ago and am still waiting.

How can I get my Coins from the Paper Wallet to bitstamp again?

And if I am correct, I can check my BTC Amount on the Paper Wallet on blockchain.info when I write my Bitcoin adress there?

EDIT: Bitstamp says trasfer failed?

[dreamspark]

I do agree with you, I'm not in the US so definately can relate to the not trusting the US bit. To be honest though I shouldn't have really put US based exchange I should have just put proffesional, insured and written by people who know what they're doing. That represents my point a lot clearer.

Bitstamp is a UK business anyway 

[conspirosphere.tk]

I have (from a political point of view) more confidence that the EU won't arbitrarily decide to seize all assets of a properly run exchange* because of some fake anti-terror/anti-drug reasoning

wait for it:
from:
http://www.centralbank.ie/publicinformation/Documents/EBA%20Warning%20on%20Virtual%20Currencies.pdf
formerly here:
http://www.eba.europa.eu/documents/10180/15971/EBA+Warning+on+Virtual+Currencies.pdf

law enforcement agencies may decide to close exchange platforms and prevent you from accessing or using any funds that the platforms may be holding for you

[ChrisML]

I have (from a political point of view) more confidence that the EU won't arbitrarily decide to seize all assets of a properly run exchange* because of some fake anti-terror/anti-drug reasoning

wait for it:
from:
http://www.centralbank.ie/publicinformation/Documents/EBA%20Warning%20on%20Virtual%20Currencies.pdf
formerly here:
http://www.eba.europa.eu/documents/10180/15971/EBA+Warning+on+Virtual+Currencies.pdf

law enforcement agencies may decide to close exchange platforms and prevent you from accessing or using any funds that the platforms may be holding for you

December last year.

Second, when closing down these exchanges with money from consumers/civillians they would get a fuck load of angry people upon them. I mean hellfire.

[oda.krell]

I have (from a political point of view) more confidence that the EU won't arbitrarily decide to seize all assets of a properly run exchange* because of some fake anti-terror/anti-drug reasoning

wait for it:
from:
http://www.centralbank.ie/publicinformation/Documents/EBA%20Warning%20on%20Virtual%20Currencies.pdf
formerly here:
http://www.eba.europa.eu/documents/10180/15971/EBA+Warning+on+Virtual+Currencies.pdf

law enforcement agencies may decide to close exchange platforms and prevent you from accessing or using any funds that the platforms may be holding for you

Then again: http://www.heise.de/newsticker/meldung/Bundestag-Bitcoinverkaeufe-nach-Haltefrist-steuerfrei-1897814.html
(German article. Basically, coins are treated as a "private form of currency", and are subject to income tax, unless held for more than 1 year). Which means that as long as Germany gets taxes on it, they're not in a hurry to ban it.

And since we all know that good old Deutschland runs the EU, that's pretty good news

[meanig]

I informed Bitstamp that they had at least a breach on their email list, if not the rest of their system. At first they denied it, but in a follow up they eventually admitted to it.

I think if eleuthria is to be trusted, then there is probably no question in it. Furthermore, Bitstamp themselves distributed email warnings of phishers I think shortly afterwards. It's possible that only a part of the mails were leaked, or that somehow yours wasn't sent to.

If we do some digging, maybe we can get it officially from a Bitstamp rep.

I didn't receive any phishing emails.

[adamstgBit]

I´m safing my Bitcoins on a paper wallet now and am a total noob. Can I ask here some questions?

good choice

How long does it take to transfer the coins from Bitstamp to the Paper Wallet? I just made a test transfer 15 minutes ago and am still waiting.

same as any BTC transfer, instantly, then ~1 hour  for 6 confirmations

How can I get my Coins from the Paper Wallet to bitstamp again?

you can import the private key in a bitcoinQt client, or import it to a blockchina.info wallet.

And if I am correct, I can check my BTC Amount on the Paper Wallet on blockchain.info when I write my Bitcoin adress there?

yes, its the same as any other bitcoin address, just that the private key only exists on paper.

EDIT: Bitstamp says trasfer failed?

you sure you have the right address? if you type in the address incorrectly the checksum will fail. once you are sure the problem is not user error, contact support.

[billyjoeallen]

On Bitfinex i think are the lowest fees 0.15% per buying and selling.
and if u wanna trade a lill bit more risky, you can choose to margin trade where a leverage is 2.5:1.

I don't trust these opaque exchanges! I pay an outrageous 2% plus spread to Coinbase for every sell/buyback and I can't even do a simple f#cking limit order. Second Market wants to play New York Bitcoin Exchange and they don't have a single goddam broker I can use. Kraken needs to get crackin' if they want to be the Charles Schwabb of BTC.

I'm a buyer at $645 and a seller over $695 until the weekend or until the next breakout, whichever comes first.

[aminorex]

* "properly run" is, I'm well aware, a fuzzy term. My point is that I see the US as more aggressive in pursuing AML than the EU, on average.

Europe already had their Nazis.  America hasn't had a chance to binge and purge yet.  Blood will flow eventually.

[kkaspar]

"Kiev snipers hired by Maidan leaders - leaked EU's Ashton phone tape"
http://rt.com/news/ashton-maidan-snipers-estonia-946/

buy buy buy!

wait, that means less chance of war as the west was caught out once again..

sell sell sell!!

The Russian propaganda is strong with this one.

If you learn history of breakdown USSR in 1991, revolutions in Lybia, Egypt, doings in Syria and other - all there where "unknow snipers". And, trust me, they was from the West.
And brainwash wery strong in West countries. Because you need resources and control for maintain high standard of living without economy crash.

I grew up in Estonia during the time it was occupied by USSR and that was basically a battleground for different propaganda coming from the west and from the east. Back then, USSR was the one that created these ridiculous lies that no one except themselves believed and western propaganda was built with appreciably better quality. Now I see that the western side is actually saying things that are very hard to believe if you have half a brain and east is actually making more sense. Funny how things change..
What worries me is that currently I see a lot of organized incitement at the Estonian forums and news commentaries. Someone really wants that the Estonians and Russians, that both live here, wouldn't get along with each other.. There have been previous attempts to create larger conflicts that have failed, because people have kept a cool head. I sure hope that we don't see another Ukraine here, where foreign funded groups and billionaire bankers take over the government to get busy signing contracts for extraction of shale gas. I would like that out tap water doesn't burn in the future

[UnDerDoG81]

I´m safing my Bitcoins on a paper wallet now and am a total noob. Can I ask here some questions?

good choice

How long does it take to transfer the coins from Bitstamp to the Paper Wallet? I just made a test transfer 15 minutes ago and am still waiting.

same as any BTC transfer, instantly, then ~1 hour  for 6 confirmations

How can I get my Coins from the Paper Wallet to bitstamp again?

you can import the private key in a bitcoinQt client, or import it to a blockchina.info wallet.

And if I am correct, I can check my BTC Amount on the Paper Wallet on blockchain.info when I write my Bitcoin adress there?

yes, its the same as any other bitcoin address, just that the private key only exists on paper.

EDIT: Bitstamp says trasfer failed?

you sure you have the right address? if you type in the address incorrectly the checksum will fail. once you are sure the problem is not user error, contact support.

Ok thank you. I checked the adress and it is correct. I just tried it again. Also my Blockchain.info Adroid App says "failed to connect to the Server". Maybe some Blockchain problems?

[adamstgBit]

On Bitfinex i think are the lowest fees 0.15% per buying and selling.
and if u wanna trade a lill bit more risky, you can choose to margin trade where a leverage is 2.5:1.

I don't trust these opaque exchanges! I pay an outrageous 2% plus spread to Coinbase for every sell/buyback and I can't even do a simple f#cking limit order. Second Market wants to play New York Bitcoin Exchange and they don't have a single goddam broker I can use. Kraken needs to get crackin' if they want to be the Charles Schwabb of BTC.

I'm a buyer at $645 and a seller over $695 until the weekend or until the next breakout, whichever comes first.

bad choice

flagpole pole is targeting 730+, and thats just the beginning.

keep your coins safe and wait for my go.

[ShroomsKit]

Stable price is not a good time for day traders, thats why I started to gamble and invest in all those ponzie schemes. Call me crazy but at the begining I lost a bit but I've made 1 BTC profit already. At the moment https://bitcointalk.org/index.php?topic=474730.0 is the most stable and profitable ponzie and if I were you I would invest there, small amount just for fun.

Stop spamming!

[Davyd05]

At this rate Jorge's Slumber prediction is close to being on point.

[KeyserSoze]

Hardly ideal when your trying to buy a pizza...

I had this happen around the holidays once.

Did gyft try and help you out or did they just fob you off to bitpay?

Gyft took care of it and refunded.