antimattercrusader
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April 17, 2013, 11:10:08 PM |
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He confirmed it as "indefinite"
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BTC: 13WYhobWLHRMvBwXGq5ckEuUyuDPgMmHuK
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BTC Books
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April 17, 2013, 11:13:29 PM |
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He confirmed it as "indefinite"
Thank you.
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Dankedan: price seems low, time to sell I think...
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BTC Books
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April 17, 2013, 11:16:59 PM |
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When I did have an account with them, this was common. They keep a hot wallet, and an offline wallet. Withdrawals from the offline wallet - that is to say larger transactions - have always taken a few hours. Keep in mind that 'larger transactions', for bitfloor, are somewhat smaller than for Gox.
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Dankedan: price seems low, time to sell I think...
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antimattercrusader
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April 17, 2013, 11:17:46 PM |
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Ok, thank you. Just makes me jumpy, I'm not a mood to loose 85BTC today lol. I'm sad to see Bitfloor go, I really liked their platform. I was looking at CampBX, they seem good. Thoughts?
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BTC: 13WYhobWLHRMvBwXGq5ckEuUyuDPgMmHuK
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notig
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April 17, 2013, 11:24:15 PM |
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Does anyone have guesses as to why their bank would shut them down? Is this an attack against bitcoin? Something else?
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Digikeys
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April 17, 2013, 11:26:26 PM |
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This seems like a reasonable explanation.. I've had this happen with an American business account. Risk management sends you a letter saying they are shutting down the account in 7 days. There's no disputing it, there's no appeal, it's going to be closed. Risk Management simply decides they don't like something about your transaction history and that's that. I'm not sure it's related to Bitcoins, they're probably leaving very little money in that account (probably a good idea) and just keeping enough to send out ACH withdrawals to traders. But when it's 99% of the money coming in is going right back out and it starts adding up to being millions in/out unless you have a huge chunk of money sitting there to cover any issues, banks are not going to be terribly comfortable.
If it was related to Bitcoin (under a BS excuse of money laundering) the account would be frozen. It doesn't sound like it's frozen, it sounds like the bank is saying we don't want your business GTFO.
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BTC Books
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April 17, 2013, 11:27:30 PM |
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Ok, thank you. Just makes me jumpy, I'm not a mood to loose 85BTC today lol. I'm sad to see Bitfloor go, I really liked their platform. I was looking at CampBX, they seem good. Thoughts? Yes - they've been hanging in there in pretty much last place for awhile. Points for tenacity. I think the reason they've never caught on is their very up-front acceptance of regulation, 'Know Your Customer' BS, & etc. That seems to be becoming less important though, as bitcoin is attracting more mainstream types. Next time I sign up with an exchange I'll probably give them a try.
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Dankedan: price seems low, time to sell I think...
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samurai1200
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April 17, 2013, 11:28:55 PM |
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Ok, thank you. Just makes me jumpy, I'm not a mood to loose 85BTC today lol. I'm sad to see Bitfloor go, I really liked their platform. I was looking at CampBX, they seem good. Thoughts? Ive only done a small volume of trades at both, but in my mind, form-fit-function of CampBX is very similar to Bitfloor.
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deadweasel
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April 17, 2013, 11:29:49 PM |
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This seems like a reasonable explanation.. I've had this happen with an American business account. Risk management sends you a letter saying they are shutting down the account in 7 days. There's no disputing it, there's no appeal, it's going to be closed. Risk Management simply decides they don't like something about your transaction history and that's that. I'm not sure it's related to Bitcoins, they're probably leaving very little money in that account (probably a good idea) and just keeping enough to send out ACH withdrawals to traders. But when it's 99% of the money coming in is going right back out and it starts adding up to being millions in/out unless you have a huge chunk of money sitting there to cover any issues, banks are not going to be terribly comfortable.
If it was related to Bitcoin (under a BS excuse of money laundering) the account would be frozen. It doesn't sound like it's frozen, it sounds like the bank is saying we don't want your business GTFO.
I suspect exactly this. Either frozen already or in the next few days.
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Minor Miner
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April 17, 2013, 11:30:03 PM |
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Real businesses do not get their bank accounts shut down.
Exactly. And real businesses don't get their Paypal account frozen. And real businesses don't get chargebacks. Real businesses get chargebacks and they file through the claim process. Real businesses do not get paypal frozen if they had opened the account properly and gave truthful information on what they are doing.
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bb113
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April 17, 2013, 11:30:57 PM |
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Ok, thank you. Just makes me jumpy, I'm not a mood to loose 85BTC today lol. I'm sad to see Bitfloor go, I really liked their platform. I was looking at CampBX, they seem good. Thoughts? I received my btc. Also, yes I hope bitfloor can return with the same service. Especially if this incident is handled cleanly, Roman will have gained trust.
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notig
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April 17, 2013, 11:31:19 PM |
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If the bank just decides they don't want their business how come bitfloor can't seek a new bank? The indefinitely sounds permanent
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muyuu
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April 17, 2013, 11:42:37 PM |
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Indefinitely doesn't mean permanently, so it's not confirmed yet. There are no grounds for saying "sad to see Bitfloor go" just yet.
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GPG ID: 7294199D - OTC ID: muyuu (470F97EB7294199D) forum tea fund BTC 1Epv7KHbNjYzqYVhTCgXWYhGSkv7BuKGEU DOGE DF1eTJ2vsxjHpmmbKu9jpqsrg5uyQLWksM CAP F1MzvmmHwP2UhFq82NQT7qDU9NQ8oQbtkQ
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zedicus
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April 17, 2013, 11:44:30 PM |
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Credit union FTW!!
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antimattercrusader
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April 17, 2013, 11:45:03 PM |
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If the bank just decides they don't want their business how come bitfloor can't seek a new bank? The indefinitely sounds permanent
One might think... he might want to consider a smaller local bank or credit union where he can discuss his business needs and have a person who will actually listen and present a real solution. Hard to find thesedays. Indefinitely doesn't mean permanently, so it's not confirmed yet. There are no grounds for saying "sad to see Bitfloor go" just yet.
I hope your right! ![Smiley](https://bitcointalk.org/Smileys/default/smiley.gif) EDIT: Credit union FTW!!
+1
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BTC: 13WYhobWLHRMvBwXGq5ckEuUyuDPgMmHuK
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wtfvanity
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April 17, 2013, 11:45:12 PM |
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I put this in the noob forum but... Why did only a few get the email? I guarantee if I had seen that message I would have been buying coins at any price. Of course the ones that got it ended up sticking some with fiat in there... ![Sad](https://bitcointalk.org/Smileys/default/sad.gif)
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WTF! Don't Click Here . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
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superduh
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April 17, 2013, 11:46:57 PM |
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isn't silicone valley bank open to working with bitcoins?
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ok
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antimattercrusader
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April 17, 2013, 11:47:04 PM |
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I put this in the noob forum but... Why did only a few get the email? I guarantee if I had seen that message I would have been buying coins at any price. Of course the ones that got it ended up sticking some with fiat in there... ![Sad](https://bitcointalk.org/Smileys/default/sad.gif) From what I hear, it appears they staggered emails to prevent a panic. Now that is just hearsay, I don't know for sure. However, on twitter I saw they promised to return funds, I think everyone will be fine.
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BTC: 13WYhobWLHRMvBwXGq5ckEuUyuDPgMmHuK
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BTC Books
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April 17, 2013, 11:47:32 PM |
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Real businesses get chargebacks and they file through the claim process. Real businesses do not get paypal frozen if they had opened the account properly and gave truthful information on what they are doing.
Oh my. I'm sorry, but you're mistaken. It happens all the time.
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Dankedan: price seems low, time to sell I think...
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