bitfloor issues?

[NargoMargo]

Sorry, but everything you said applies equally to US dollars. The issue here is not with bitcoins, it is with trusting someone else to store your money.

I agree. But the only "TRUE" currency is whatever currency the country you live in provides. Everything else is pseudo-currency/faux currency. Id rather have "true" currency then a pseudo currency. Just personal opinion.

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[SpottedMarley]

Sorry, but everything you said applies equally to US dollars. The issue here is not with bitcoins, it is with trusting someone else to store your money.

I agree. But the only "TRUE" currency is whatever currency the country you live in provides. Everything else is pseudo-currency/faux currency. Id rather have "true" currency then a pseudo currency. Just personal opinion.

Bitcoin are a true currency because you can spend them. I've made purchases with bitcoin, thus I have used bitcoin as currency. I believe you mean that you prefer a true "fiat" currency. All I care to say about the difference between the two is that fiat currencies are a thing of the past and crypto currencies are the way of the future. To say the Bitfloor fiasco is an example of why not to trust Bitcoin is like saying that choking is a good example of why not to breathe. Something about babies and bath water.

[NargoMargo]

Everywhere does not accept bitcoin. Therefore it is not true currency. It is pseudo currency. Cash is king. There is very few places in the US that would REQUIRE any other sort of other payment. They may ACCEPT BTC or whatever but they only want BTC because they believe it is of a true value. Which it is not, it is worth whatever the market claims it is worth. 1 Dollar is worth 1 Dollar at every store. 1 BTC is worth XXXX dollars and fluctuates. This isnt a question. You can invest $500 dollars in chicken nuggets, but in the end you have chicken nuggets that are only worth whatever someone claims they are worth, whereas your $500 is worth $500, period. And the whole "well US dollars are actually worth less on the market due to this and this and this", that is for the businessmen and internationals to speak of. But for any Civilian, it is $1 is worth $1 everywhere within the country.

[FenixRD]

Crazy newbie rubbish

Welcome to the forum. Suggest you read... anything. This flawed logical premise has been both rebutted and explained politely a million threads over. Certainly won't be rehashing it here. Replying to this with anything other than "oh, alright, I'll lurk more" will be met with you getting a click on your avatar's "ignore" link pretty early on in your forum life here. I mean this as kindly as possible as an internet forum scolding can be. No offense severely meant... There are just so many redpills these days that my default response is to quickly ignore them to filter the thread length.

[NargoMargo]

Crazy newbie rubbish

Some Troll who doesnt ignore things he cant understand gibberish

By all means, i welcome you to ignore my posts. But it was not directed towards you in any manner, though you were welcome to respond. However, High King Of Gomorrah, your snarky comment is not respected, or your opinion considered anything more than that, an opinion. As i said, i am here waiting for my bitfloor refund and then im leaving this community. As i have been the fool once and believed BTC was worth something, though time has shown not only the people running the companies are skeevy, but the people handling them and in them (i.e. PiratAt40). If you disagree with any comments, please go find the negative aspects of BTC and see if it is worth the financial risk. No bank will back you if your "btc wallet goes missing", none of it is federally or state backed currency.  And if you believe Kmart, Starbucks, and your Local Diner will being accepting BTC as currency then you are the fool.

Heres this link again. FEDERAL judge rules Bitcoin INVESTMENT constitutes Securities. On that fact it is a contractual investment at times. But it is not 'money', it is pseudo currency. http://www.forbes.com/sites/jordanmaglich/2013/08/07/court-green-lights-bitcoin-lawsuit-rules-investments-constitute-securities/

BTC is pseudo currency, PERIOD. You will never begin paying for your macdonalds or your dry cleaning with BTC. Maybe some places accept it, but they believe it has some real value. Big businesses will never start hiring BTC CFO's to follow the 'bitcoin trading market' to help their company trade with Europe BTC markets and make financial BTC choices.

Cash, Dollar, Cash.

Ignore. Hit ignore. I ask you, oh the grandest King of Dirt.

As soon as the refund is processed im gone, and everyone who wishes to continue with bitcoin can do so, with no judgement. As i said before, personally i do not trust something that doesnt 'exist' physically. Give me a Quarter Gram of Silver over a screen that says i have '1 btc' any day.

Any response from you other than "I enjoy the taste of my foot", will be met with a non-response.

[FenixRD]

In other news, at exactly 5:01 AM CDT I received notification that my BofA checking account was in-processing an ACH from none other than the Internet Archive for the correct amount.

So, recent questions on when those with "less than $3K and having it transferred to a non-IACU account" will be seeing money... Looks like today.

If you have other banks than BofA don't freak... Not all banks show or allow pending ACHs to be part of your spendable balance.

[DannyHamilton]

- snip -
and then im leaving this community.
- snip -
im gone,
- snip -

Good riddance.  The bitcoin community will be all the better with less people who are unwilling to consider what it means to be a "real" currency, or "money".  If you can't see the potential of what bitcoin could be in the next 5 to 10 years, then you can wait and return when you'll get a lot less bitcoin in exchange for your "cash".  If you decide that you are willing to listen and actually think about what people are saying, come on back and give it another look.

[johnblaze]

lol @ Nargo

[audenx]

From my 12-August-2013 email update to Bitfloor users.

Today, I started receiving reports from Bitfloor users who are seeing their sub-$3,000 refunds posting to their non-IAFCU bank accounts. Some users reported the specific balances they had refunded, and they ranged in size from $250 to $2,000. The $5 processing fee from IAFCU (which Bitfloor announced on its website) was subtracted from the refund amount, according to several users.

If you are one of the people who just received a refund, I hope you will consider donating to the IAFCU (a small non-profit credit union) to help them cover the costs they've incurred by helping Bitfloor to provide refunds to users. Instructions for how to donate can be found here:

http://audenx.tumblr.com/post/56531148533/26-july-2013-bitfloor-update-and-a-note-for-those

I hope that this is the beginning of a wave of USD refunds and that all of you who have been waiting will see your funds very soon. If you still have not seen your USD refund by this Friday, please drop me a line and let me know so I can track who is still waiting on refunds.

I will continue to track the status of the following customer support issues. If you are affected by one of these issues and have had the issue resolved already, please email or PM me to let me know.

• Users unable to withdraw BTC balances
• International users unable to enter SWIFT codes
• Wire transfers sent to Bitfloor around the date of the shutdown not showing up in users' reported USD balance
• Incorrect bank account numbers entered by users on refund forms
• Users not seeing the refund request form at all when they log in to Bitfloor.com, or "Internal server error" messages when attempting to submit the form

[Rassah]

I agree. But the only "TRUE" currency is whatever currency the country you live in provides. Everything else is pseudo-currency/faux currency. Id rather have "true" currency then a pseudo currency. Just personal opinion.

Really the only reply ever needed to these kinds of statements is, "Don't let the door hit you on your way out."

[dc81]

thanks audenx, got my deposit (~$600) and will send a donation their way.

[infested999]

thanks audenx, got my deposit (~$600) and will send a donation their way.

If you login to bitfloor, does the page change from "your information is under review" to something else?

[flound1129]

I received my ~$1400 refund this morning.

[dwolfman]

Checked my account after reading this thread.

Got my ~$100 today.  

At least according to my bank account, and it's not pending.

According to Bitfloor, the deposit is still under review.

[johnblaze]

i plan to just keep my balance in IAFCU and keep the account there

[pivavar]

got my $800 something refund. bitfloor status still says "under review" - apparently bank folks who process refunds don't have access to update bitfloor refund status   

[True___Blue]

I just got the 300ish USD back from Bitfloor. It also my birthday today. This was a welcomed surprise 

[audenx]

i plan to just keep my balance in IAFCU and keep the account there

That's what I'm doing, too. I'm hoping IAFCU will get the transaction fees when I use my debit card to buy stuff, but I don't know if they collect the fees or if their corporate credit union gets them.

[Dr3AM$cAp3]

Let the naysayer's mouths be shut once and for all.

Received the entirety of my funds today!  It could not have come at a more appropriate time.

Thank you, IAFCU!  And thanks, Roman, for remaining true to your non-word. :X

[village.idiot]

It is also possible that they are in the process of resolving the accounts in question but the money has not been transferred yet.

I'm just sayin'