bitfloor issues?

[MykelJH]

Just out my request for withdraw in. This was my first week with them and my last. It's frustrating. Finally get up land running and then this happens. I am very skeptical if I will get my funds.

[1715417666]

1715417666

[1715417666]

1715417666

[dandirk]

So, if you are unverified, we are talking a week + to initiate the transfer? Or are they going to mad dash approve these for withdrawal ?

dunno I was stupid and didn't setup the id/ACH yet... Well I submitted the stuff asap yesterday... guess we will see if it gets approved and I can transfer.

[MykelJH]

I literally put my funds in on Monday. If they knew this was going to happen they shouldn't have allowed me to put my funds in. Still garbage

[johnblaze]

I literally put my funds in on Monday. If they knew this was going to happen they shouldn't have allowed me to put my funds in. Still garbage

if they knew, they wouldn't have allowed you to deposit.

so obvioulsy they didnt know.

[Minor Miner]

I literally put my funds in on Monday. If they knew this was going to happen they shouldn't have allowed me to put my funds in. Still garbage

if they knew, they wouldn't have allowed you to deposit.
so obvioulsy they didnt know.

I would feel better if you could confirm that you know this for a fact since other posters say they deposited ON THE DAY that the emails were being sent out.

[Odalv]

How to destroy Bitcoin
1. try PUMP AND DUMP => result: was $30 now is $95
2. destroy exchanges => result: Bitcoin will be more scarce ( goes from $100, to $1,000 )
3. make it illegal => result: even more scarce, black market spike it to $10,000

[Brushan]

How to destroy Bitcoin
1. try PUMP AND DUMP => result: was $30 now is $95
2. destroy exchanges => result: Bitcoin will be more scarce ( goes from $100, to $1,000 )
3. make it illegal => result: even more scarce, black market spike it to $10,000

I missed the part that destroys it. 

[Odalv]

How to destroy Bitcoin
1. try PUMP AND DUMP => result: was $30 now is $95
2. destroy exchanges => result: Bitcoin will be more scarce ( goes from $100, to $1,000 )
3. make it illegal => result: even more scarce, black market spike it to $10,000

I missed the part that destroys it.  

:-) (FUD-er makes money(buys bitcoins), during PANIC SELL and kids will cry "Bitcoin died")

[UncleGravy]

I had placed an ACH withdraw request in yesterday prior to the suspending announcement.  It posted to the bank account this morning on time, like every time.  For those worried about Roman stealing funds this was a very very large ACH.  If he was looking to steal anyone's funds I would expect he would have started with this one.

I placed an ACH withdrawl request last friday (already verified, but this was my first withdrawl). No funds have been deposited into my account, and now I see the notice on the site. Has anyone besides DeathAndTaxes had a successful withdrawl in the past week?

[BitcoinAshley]

Ok, don't worry, based on the contents of your post I can tell that you are still in high school. Not only that, I can see the reflection of your tin foil hat a mile away. You're right, I work for bitfloor and am paid to come here and write pro-bitfloor posts to defend their horrifying practice of letting their BoA account get shut down and then immediately stealing everyone's BTC and USD. I am not defending them... I am speaking from a standpoint of reality and the real world, which must appear to be a pro-bitfloor defense when viewed from your standpoint of anger, emo kid, and FUD.

By the way, don't accuse me of cherry picking when you admitted to it yourself. You picked the longest time frame that happened to be the case for you, and I picked the shortest time frame that happened to be the case for me. Sounds like arguing for the sake of arguing. Chill out. 

One last tip: don't complain about a 10 paragraph rant and then respond with a 10 paragraph rant of your own That was probably the funniest part.

lol dont get mad. just save it pal. you wouldn't be responding with your 10 paragraph rant defending bitfloor if you weren't.

the 2 week estimate is correct for my case, and probably others. i dont have ACH verified in bitfloor. so i have to wait 3 days + backlog to verify, then another 2-3 days for ACH to hit my bank and clear, then another week+? to wire internationally to mtgox? as for btc-e, who knows how to get any money of decent size on there. its nearly impossible, which is why btc-e quotes are routinely $10 off from gox. if bitfloor would've emailed everyone equally or given everyone time to make their decision on how to handle their funds, i could avoid all this and have bought BTC and transferred easily. i dont want USD. i want to trade BTC.

but of course you cherry pick the best possible scenario in order to defend bitfloor. well done.

you're obviously personally taking up this cause, why? how many posts have you made in this thread defending bitfloor? this has nothing to do with you, yet you're the loudest bitfloor defense in here

i already stated that i was very happy with bitfloor. i am not accusing them of theft or fraud or anything. but i am upset that i didn't get equal treatment as other customers. thats a legitimate gripe. while i think it was probably just a random choice to email certain people, theres certainly room for questioning whether there was favoritism involved, as others have already speculated that maybe those who received emails had to do with BTC or USD balances. in financial markets, you cannot pick and choose who gets certain information to trade.. thats a VERY questionable decision. i am not accusing them of manipulation, it was probably an honest mistake. however it is horrible choice that they are responsible for. they do not get a pass for bad decisions.

because of that unequal treatment, now my money is tied up. calm down, step off your defensive pedestal, and actually read what i wrote, and surely you will agree.

[BitcoinAshley]

So, if you are unverified, we are talking a week + to initiate the transfer? Or are they going to mad dash approve these for withdrawal ?

Excellent question. Unfortunately, ACH (automated clearinghouse) is an archaic bankster system that requires real physical in-the-flesh human people to manually approve transactions, or at the least, delays transactions long enough to provide the opportunity for human interference - you'd think, what with this being 2013 and all, you could transfer money instantly anywhere. But since the current account system is basically designed to allow fraud (providing full account numbers to all participants instead of a secure txid-esque mechanism) we have a slow ACH system that takes days.

I wish it were the case that a standard ACH could be rushed, but it will indeed take 2-3 days for verification, and then 1-3 more days for the actual transfer to take place.

[johnblaze]

Ok, don't worry, based on the contents of your post I can tell that you are still in high school. Not only that, I can see the reflection of your tin foil hat a mile away. You're right, I work for bitfloor and am paid to come here and write pro-bitfloor posts to defend their horrifying practice of letting their BoA account get shut down and then immediately stealing everyone's BTC and USD. I am not defending them... I am speaking from a standpoint of reality and the real world, which must appear to be a pro-bitfloor defense when viewed from your standpoint of anger, emo kid, and FUD.

By the way, don't accuse me of cherry picking when you admitted to it yourself. You picked the longest time frame that happened to be the case for you, and I picked the shortest time frame that happened to be the case for me. Sounds like arguing for the sake of arguing. Chill out. 

One last tip: don't complain about a 10 paragraph rant and then respond with a 10 paragraph rant of your own That was probably the funniest part.

aka

"ill ignore all of the content of the post and just call you a child to get myself out of this and save face"

well done.

[xenigma]

I'm practically in tears.

I don't have a US bank account and had funds on bitfloor because I figured since it was easily accessible for US users, that it would be a good place to operate. Sure, trading from one side and allowing a balance to build up in USD was my choice, and my responsibility, but the fact that I can't withdraw in BTC means I will have to request an international wire transfer, which I believe is expensive.

The fact of the matter is that if their twitter post is accurate, they're dealing with international users after US users. They're locking me out of accessing my funds for I'm guessing a minimum of two weeks (1 week for account verification and another for the wire transfer).

If it takes any more time than that, I might not be able to make my rent payments. My last exchange was at ~80 USD per coin. I was never informed that the exchange would be closing. I was never informed that in case of issues related to the finances of the exchange or in case it shuts down, that USD would be the only means of recovering deposits.

I can't even find anyone to take over the account. I feel like I've lost complete control of my life. My worth has been taken from me. I have no options. And why? Because the exchange's bank account is being closed? If that is the reason, the only option is to provide participants the opportunity to transition out or away from the market. Turning away new members or not accepting USD deposits are acceptable means by which the issue could have been addressed. If necessary (that is, if the exchange rate got too uneven), you could even work with vendors or another exchange to transfer balances or supply coins at market rate (last trade +5% from gox) until volume traded dwindled and the exchange could shut down.

This could have happened over a 2 week period, or a 1 week period, but instead it was forced. In a single day (twitter posts providing customer support before the announcement) The ground that hundreds of people stood on was shaken and fractured. I've fallen to the ground. I'm not even sure I can stand any more. Worse yet, I'm not entirely sure that I want to.

[DeathAndTaxes]

So, if you are unverified, we are talking a week + to initiate the transfer? Or are they going to mad dash approve these for withdrawal ?

Excellent question. Unfortunately, ACH (automated clearinghouse) is an archaic bankster system that requires real physical in-the-flesh human people to manually approve transactions, or at the least, delays transactions long enough to provide the opportunity for human interference - you'd think, what with this being 2013 and all, you could transfer money instantly anywhere. But since the current account system is basically designed to allow fraud (providing full account numbers to all participants instead of a secure txid-esque mechanism) we have a slow ACH system that takes days.

I wish it were the case that a standard ACH could be rushed, but it will indeed take 2-3 days for verification, and then 1-3 more days for the actual transfer to take place.

There is no technical reason ACH can't be processed same day.  There is a large financial one.   Why would companies pay for expensive bank wires if they could get same day transfers for $0.15 to $0.35 (cost of ACH transactions in bulk)?

[Fiery Winds]

I'm practically in tears.

I don't have a US bank account and had funds on bitfloor because I figured since it was easily accessible for US users, that it would be a good place to operate. Sure, trading from one side and allowing a balance to build up in USD was my choice, and my responsibility, but the fact that I can't withdraw in BTC means I will have to request an international wire transfer, which I believe is expensive.

The fact of the matter is that if their twitter post is accurate, they're dealing with international users after US users. They're locking me out of accessing my funds for I'm guessing a minimum of two weeks (1 week for account verification and another for the wire transfer).

If it takes any more time than that, I might not be able to make my rent payments. My last exchange was at ~80 USD per coin. I was never informed that the exchange would be closing. I was never informed that in case of issues related to the finances of the exchange or in case it shuts down, that USD would be the only means of recovering deposits.

I can't even find anyone to take over the account. I feel like I've lost complete control of my life. My worth has been taken from me. I have no options. And why? Because the exchange's bank account is being closed? If that is the reason, the only option is to provide participants the opportunity to transition out or away from the market. Turning away new members or not accepting USD deposits are acceptable means by which the issue could have been addressed. If necessary (that is, if the exchange rate got too uneven), you could even work with vendors or another exchange to transfer balances or supply coins at market rate (last trade +5% from gox) until volume traded dwindled and the exchange could shut down.

This could have happened over a 2 week period, or a 1 week period, but instead it was forced. In a single day (twitter posts providing customer support before the announcement) The ground that hundreds of people stood on was shaken and fractured. Forced to the ground, I'm not sure I could stand. Even worse, I'm not entirely sure that I want to.

1) You should not have invested more that you could have afforded to lose.

2) An international wire transfer will probably cost you at most, $50.

[deadweasel]

I'm practically in tears.

I don't have a US bank account and had funds on bitfloor because I figured since it was easily accessible for US users, that it would be a good place to operate. Sure, trading from one side and allowing a balance to build up in USD was my choice, and my responsibility, but the fact that I can't withdraw in BTC means I will have to request an international wire transfer, which I believe is expensive.

The fact of the matter is that if their twitter post is accurate, they're dealing with international users after US users. They're locking me out of accessing my funds for I'm guessing a minimum of two weeks (1 week for account verification and another for the wire transfer).

If it takes any more time than that, I might not be able to make my rent payments. My last exchange was at ~80 USD per coin. I was never informed that the exchange would be closing. I was never informed that in case of issues related to the finances of the exchange or in case it shuts down, that USD would be the only means of recovering deposits.

I can't even find anyone to take over the account. I feel like I've lost complete control of my life. My worth has been taken from me. I have no options. And why? Because the exchange's bank account is being closed? If that is the reason, the only option is to provide participants the opportunity to transition out or away from the market. Turning away new members or not accepting USD deposits are acceptable means by which the issue could have been addressed. If necessary (that is, if the exchange rate got too uneven), you could even work with vendors or another exchange to transfer balances or supply coins at market rate (last trade +5% from gox) until volume traded dwindled and the exchange could shut down.

This could have happened over a 2 week period, or a 1 week period, but instead it was forced. In a single day (twitter posts providing customer support before the announcement) The ground that hundreds of people stood on was shaken and fractured. Forced to the ground, I'm not sure I could stand. Even worse, I'm not entirely sure that I want to.

1) You should not have invested more that you could have afforded to lose.

2) An international wire transfer will probably cost you at most, $50.

also just get a second job and tell your landlord you took on a second job to pay the rent.  and quit doing stupid shit.

[Minor Miner]

So, if you are unverified, we are talking a week + to initiate the transfer? Or are they going to mad dash approve these for withdrawal ?

Excellent question. Unfortunately, ACH (automated clearinghouse) is an archaic bankster system that requires real physical in-the-flesh human people to manually approve transactions, or at the least, delays transactions long enough to provide the opportunity for human interference - you'd think, what with this being 2013 and all, you could transfer money instantly anywhere. But since the current account system is basically designed to allow fraud (providing full account numbers to all participants instead of a secure txid-esque mechanism) we have a slow ACH system that takes days.

I wish it were the case that a standard ACH could be rushed, but it will indeed take 2-3 days for verification, and then 1-3 more days for the actual transfer to take place.

Do you work for them inaba?  Ooops, I meant bitconashley.

[xenigma]

1) You should not have invested more that you could have afforded to lose.

2) An international wire transfer will probably cost you at most, $50.

Thank you for your feedback. I am relaying my personal story because it relates to the quality and character of the exchange.

---

1. At no point did I have invested more than I could afford to lose. Did I have more in the market than I could afford to have stolen (access to funds blocked for a period of time), yes. This was a mistake on my part, but the semantics of the issue are key because my current situation is not the responsibility of my own actions, but the responsibility of the individual(s)/company which is blocking access to control my own funds.

2. Thank you for estimating the cost of an international wire transfer. I am glad that it is not a percentage base of the amount transferred, but the time delays associated with such a transaction result in true costs in excess of $50

---

also just get a second job and tell your landlord you took on a second job to pay the rent.  and quit doing stupid shit.

dw: Thank you for your reply. I am working in the short term to see what options are available. Please clarify what actions I've taken that you'd classify as stupid shit.

-------------------------

Everyone's pretending there's some major issue with USD like it was stolen or something - YES DUH it's a minor inconvenience to have to remove your USD from an exchange that is indefinitely closed - but it's an ACH transfer away from your bank account. It's safe, no "fuss" involved.

It is not a 'minor' inconvenience. I have NO access to my funds. A mechanism of managing them has not been announced. ACH transfer is not an option.


You're also claim that 'There is no problem relating to USD that they owe users'


Is my situation not an issue related to a debt which I am owed? I cannot receive their fiat disbursement method. I can receive BTC.

One issue deals with the systems in place (or not in place) to disburse USD. The other relates to the explicit decision to prevent withdrawal of BTC.

[Rassah]

I'm practically in tears.
...

Honestly, your best option is to e-mail Bitfloor support, and ask what they can do for you regarding getting your money out. They are no doubt inundated with e-mails, and thus may not get to you quickly, but if you are international, they may wire the money, or send it to you by other means. Regardless, the best action is to actually talk to them, directly, instead of complain to all of us, who really can't help you in any way.

Good luck.

[BitcoinAshley]

It is not a 'minor' inconvenience. I have NO access to my funds. A mechanism of managing them has not been announced. ACH transfer is not an option.


You're also claim that 'There is no problem relating to USD that they owe users'


Is my situation not an issue related to a debt which I am owed?

Silly me, I wasn't considering international users when I made my over-general statements, call me the iraqi information minister 

Your situation is dire, I feel for you, and I agree it is deplorable that Bitfloor is essentially locking funds for international users for at least a week. They should have had a plan for instances such as this.

That being said, I think "Don't invest more than you can afford to lose" (in your case) could be interpreted as a lesson in how liquid your monetary assets are. That would be a pretty stupid case for me to make, though, as someone living in Cyprus who had their account frozen might not be able to withdraw enough to pay rent in time - so I don't think there's really anything we could have reasonably expected you to do to avoid this. In the future, in this economic climate, it will become more and more important for us to keep considerable cash stores in case methods for accessing electronic fiat become more and more spotty.

Do you work for them inaba?  Ooops, I meant bitconashley.

I don't understand the "inaba" part but -
You are an absolute riot! You think that understanding how the ACH system works (and why it is profitable for banksters to keep it SLOW) requires an employment at Bitfloor? So, wait, Bitfloor designed the ACH system and only Bitfloor employees understand how it works well enough to answer a simple question about the possibility of a "rushed" ACH on an internet forum?
Again, you are an absolute riot. Thanks for the entertainment

Your assignment:
1) Google search "ACH transfer" so you can understand how easy it was for me to answer that question without being a Bitfloor employee
2) Contact a man named Roman Shtylman and tell him you've found him a new PR rep, since apparently I am doing such a great job at convincing paranoid FUDtrolls that I work for him.

By the way, was my prior response to xenigma sufficiently negative enough to convince you that I'm not on the BF payroll? I'll say it again - not giving international customers a quick way out (or not planning for that eventuality) is DUMB and STUPID and roman is DUMB and STUPID for not doing it, and bitfloor SUX! Lol