bitfloor issues?

[audenx]

For those who haven't seen it, Roman just posted the update we've all been waiting for on bitfloor.com:

"We are pleased to announce that we are ready to start returning USD funds. Please follow the instructions on the withdraw page. If your account balance is over 3000 USD, you must first open an account with IAFCU and then provide your IAFCU account number."

!!

[infested999]

For those who haven't seen it, Roman just posted the update we've all been waiting for on bitfloor.com:

"We are pleased to announce that we are ready to start returning USD funds. Please follow the instructions on the withdraw page. If your account balance is over 3000 USD, you must first open an account with IAFCU and then provide your IAFCU account number."

!!

I submitted all documents (That I ALREADY submitted the day after the site went down). If this goes through I do owe Roman an apology for calling him a theif.

[AMuppInTime]

For those who haven't seen it, Roman just posted the update we've all been waiting for on bitfloor.com:

"We are pleased to announce that we are ready to start returning USD funds. Please follow the instructions on the withdraw page. If your account balance is over 3000 USD, you must first open an account with IAFCU and then provide your IAFCU account number."

!!

What is IAFCU and how do I verify them? I looked them up online and it looks like something half-pieced together: barely scrounging <200 users a day.....

[audenx]

What is IAFCU and how do I verify them? I looked them up online and it looks like something half-pieced together: barely scrounging <200 users a day.....

Here's a bit about Internet Archive Federal Credit Union (IAFCU) from my June 7th email update, which explains why they're interested in helping Bitcoin users and Bitcoin businesses affected by bank antagonism:

"Some of you might be interested in watching the talk Brewster and Jordan gave at Bitcoin 2013 in which they laid out the value proposition of credit unions and explained their interest in helping Bitcoin businesses. The portion of the talk that’s Bitcoin-specific starts at minute 4:15, and the most pertinent part of the talk to our situation is from about 10:50 to 19:00."

[SpottedMarley]

Here's a bit about Internet Archive Federal Credit Union (IAFCU) from my June 7th email update, which explains why they're interested in helping Bitcoin users and Bitcoin businesses affected by bank antagonism:

"Some of you might be interested in watching the talk Brewster and Jordan gave at Bitcoin 2013 in which they laid out the value proposition of credit unions and explained their interest in helping Bitcoin businesses. The portion of the talk that’s Bitcoin-specific starts at minute 4:15, and the most pertinent part of the talk to our situation is from about 10:50 to 19:00."

That's a great video, thanks AudenX. I had no intention of using the account I had to set up to get my Bitfloor refund but now that I've watched that vid I think I'm keeping my account with IAFCU open even after I get my money back.. will probably even move a lot more money there too.

[infested999]

For those who haven't seen it, Roman just posted the update we've all been waiting for on bitfloor.com:

"We are pleased to announce that we are ready to start returning USD funds. Please follow the instructions on the withdraw page. If your account balance is over 3000 USD, you must first open an account with IAFCU and then provide your IAFCU account number."

!!

What is IAFCU and how do I verify them? I looked them up online and it looks like something half-pieced together: barely scrounging <200 users a day.....

In the US, you cannot make a Credit Union for everything, that would bankrupt the banks. You can only makes CUs for specific groups of people (teachers, lawyers, etc.) The ICU is called and Internet Credit Union. A court allowed them to create a CU for internet Users. See what they got out of that?

[TheButterZone]

IAFCU's kinda weird, on https://iafcu.org/special-posts/wire-money-to-your-account/ they refer to "Corporate One Federal Credit Union – Columbus, OH." being their "corporate credit union". So IAFCU is a credit union inside a credit union?

[xxyyzz]

Does anyone know why $3000? Is it a regulation requirement? It will be nice if we can verify IAFCU is a legally registered credit union in US before we open accounts with them. What do you think?

[Phinnaeus Gage]

For those who haven't seen it, Roman just posted the update we've all been waiting for on bitfloor.com:

"We are pleased to announce that we are ready to start returning USD funds. Please follow the instructions on the withdraw page. If your account balance is over 3000 USD, you must first open an account with IAFCU and then provide your IAFCU account number."

!!

I submitted all documents (That I ALREADY submitted the day after the site went down). If this goes through I do owe Roman an apology for calling him a theif.

Ditto!

[SpottedMarley]

For those who haven't seen it, Roman just posted the update we've all been waiting for on bitfloor.com:

"We are pleased to announce that we are ready to start returning USD funds. Please follow the instructions on the withdraw page. If your account balance is over 3000 USD, you must first open an account with IAFCU and then provide your IAFCU account number."

!!

I submitted all documents (That I ALREADY submitted the day after the site went down). If this goes through I do owe Roman an apology for calling him a theif.

Ditto!

I would say that we are the one's owed apologies by Roman. Granted, he isn't a thief, but at the time he gave us little reason to suspect otherwise.

All's well that ends well but I'm not going to just forget about how badly the whole thing was handled. Anything I said, I meant at the time I said it.

And now I'm very happy to admit that I was wrong, he was not stealing our money, but that sure is what he made it feel like for a while there.


when this happened, I had just sold off 30BTC for $135

at the current price ($61 at the moment) I could more than double that to 62BTC

so, in a way, this was not the worst thing in the world. it just required massive patience and blind faith.

[dwolfman]

I would say that we are the one's owed apologies by Roman. Granted, he isn't a thief, but at the time he gave us little reason to suspect otherwise.

All's well that ends well but I'm not going to just forget about how badly the whole thing was handled. Anything I said, I meant at the time I said it.

And now I'm very happy to admit that I was wrong, he was not stealing our money, but that sure is what he made it feel like for a while there.

Well, I'd wait on that until people actually get their money back.  Call me a skeptic, I guess..... 

But I turned in all the required docs to get back my $105.27 (minus the ridiculous $2.50 fee).  Let's see how long this takes. 

when this happened, I had just sold off 30BTC for $135

at the current price ($61 at the moment) I could more than double that to 62BTC

so, in a way, this was not the worst thing in the world. it just required massive patience and blind faith.

Not sure, but I think your math is a little off somewhere?  BTC was worth a LOT more than $4.50 each when Bitfloor went down. 

[infested999]

For those who haven't seen it, Roman just posted the update we've all been waiting for on bitfloor.com:

"We are pleased to announce that we are ready to start returning USD funds. Please follow the instructions on the withdraw page. If your account balance is over 3000 USD, you must first open an account with IAFCU and then provide your IAFCU account number."

!!

I submitted all documents (That I ALREADY submitted the day after the site went down). If this goes through I do owe Roman an apology for calling him a theif.

Ditto!

I would say that we are the one's owed apologies by Roman. Granted, he isn't a thief, but at the time he gave us little reason to suspect otherwise.

All's well that ends well but I'm not going to just forget about how badly the whole thing was handled. Anything I said, I meant at the time I said it.

And now I'm very happy to admit that I was wrong, he was not stealing our money, but that sure is what he made it feel like for a while there.


when this happened, I had just sold off 30BTC for $135

at the current price ($61 at the moment) I could more than double that to 62BTC

so, in a way, this was not the worst thing in the world. it just required massive patience and blind faith.

We still do not know if he has stolen our money.

Has anyone gotten their cash in hand yet? My documents have been submitted since my post yesterday and I am still not verified. I would expect him to verify a few thousand users a day.

[Pteppic]

Any international users made any progress? It says to put in your swift code instead of a routing number, but when I do, it is saying 'not a valid routing number' and won't let me submit.

I guess I'll have to email support@bitfloor.com 

[dwolfman]

Any international users made any progress? It says to put in your swift code instead of a routing number, but when I do, it is saying 'not a valid routing number' and won't let me submit.

I guess I'll have to email support@bitfloor.com 

Yup, they are validating it against US routing numbers.  Must have forgotten to put in that exception rule.

[infested999]

Any international users made any progress? It says to put in your swift code instead of a routing number, but when I do, it is saying 'not a valid routing number' and won't let me submit.

I guess I'll have to email support@bitfloor.com 

There are thousands of emails to that address, since from before the site went down they were not answered.

[SpottedMarley]

Not sure, but I think your math is a little off somewhere?  BTC was worth a LOT more than $4.50 each when Bitfloor went down. 

Sorry, I meant that I sold 30BTC at a price of $135 each

So if I buy back in with my total refund amount, and pay less than half that price I will more than double the original amount of BTC that I sold that day

I just hope the market stays down for a few more days until I can get my money. Sub-$50 would be great!

[infested999]

Not sure, but I think your math is a little off somewhere?  BTC was worth a LOT more than $4.50 each when Bitfloor went down. 

Sorry, I meant that I sold 30BTC at a price of $135 each

So if I buy back in with my total refund amount, and pay less than half that price I will more than double the original amount of BTC that I sold that day

I just hope the market stays down for a few more days until I can get my money. Sub-$50 would be great!

At least that's some more fire under Roman's ass to hurry it up.

[wtfvanity]

For some reason I didn't see this in my twitter feed.

Bump for those that didn't notice this over the weekend. Go get your money, hopefully.

$2.50 fee, fine. I mentioned before if he cut a check I would let him take out much more and overnight the damned thing to me.

[infested999]

Your refund information is under review. Once reviewed, your refund will be sent to you electronically.

[joesmoe2012]

Your refund information is under review. Once reviewed, your refund will be sent to you electronically.

Great to hear!