Bitfloor trading suspended

[jmillions]

I received my bitcoins from BitFloor. The delay was around 3 hrs.  It came from a wallet with ~2,700 BTC. I expect everyone else will receive their coins shortly.

Thank you BitFloor. It was good while it lasted. You'll be missed here.

[whereismymoney13]

I received my bitcoins from BitFloor. The delay was around 3 hrs.  It came from a wallet with ~2,700 BTC. I expect everyone else will receive their coins shortly.

Thank you BitFloor. It was good while it lasted. You'll be missed here.

Glad you got your coins. I guess we can take this as a positive sign they are not trying to take our money and run. Still wondering if everyone will get their USD back.

[djspock3030]

Why is everyone hate'n on Gox, seems to be the go to , to avoid issues like this?

[whereismymoney13]

Why is everyone hate'n on Gox, seems to be the go to , to avoid issues like this?

Maybe because Gox suspended trading for an hour during the huge price drop last week? Take into consideration their market share and that's currency manipulation if you ask me.

[djspock3030]

I maybe Nieve bhere being new and all but it would seem keeping bitcoins if you are based out of the US is a huge risk in a very volatile market. Why not flip each bitcoin for guaranteed backed usd cash regardless of the market rate. That's just my philosophy to mitigate risk?

For instance i know the rate used to be above 200 usd then it cut in half last week when i jumped in at 120 then it fell to 50 then back up to 90s at the time of this post. I wouldn't horde btc. If i was able to flip 1 a week even at the price of 90 usd then move that to my say Roth IRA you release all the risk. Are people really buying these low and holding them hoping the value goes back up and selling them high? What if you were holding on to a 100 BTC would you not rather take the 90 guaranteed then to risk it all being worth zero as a possibility hours later? 

[whereismymoney13]

I maybe Nieve bhere being new and all but it would seem keeping bitcoins if you are based out of the US is a huge risk in a very volatile market. Why not flip each bitcoin for guaranteed backed usd cash regardless of the market rate. That's just my philosophy to mitigate risk?

For instance i know the rate used to be above 200 usd then it cut in half last week when i jumped in at 120 then it fell to 50 then back up to 90s at the time of this post. I wouldn't horde btc. If i was able to flip 1 a week even at the price of 90 usd then move that to my say Roth IRA you release all the risk. Are people really buying these low and holding them hoping the value goes back up and selling them high? What if you were holding on to a 100 BTC would you not rather take the 90 guaranteed then to risk it all being worth zero as a possibility hours later? 

What? 

Nobody is talking about hoarding BTC. We are talking about the collapse of a BTC exchange with approximately 4% of the market.

[mufa23]

Looks like Bitfloor permanently shutdown. Oh well, my favorite exchange is now gone.

I had $0.75 left tied up in there.

[dwolfman]

I may have gotten lucky!

I had started the ACH process on Monday, looks like it just got finished overnight as I now have that option in my account.  So I went ahead and moved my USD to my checking account.

Will know in a couple days if it went through.

[whereismymoney13]

Started the verification process yesterday and was approved today. (knock on wood) I hope I get my money. Another positive sign bitfloor is trying to do the right thing.

[dwolfman]

I may have gotten lucky!

I had started the ACH process on Monday, looks like it just got finished overnight as I now have that option in my account.  So I went ahead and moved my USD to my checking account.

Will know in a couple days if it went through.

And now I'm wondering when I'll see it...

2013.04.20

The bank has issued us a check for the remaining account balance. Once this check is received, we will be working to establish a way to return the remaining USD funds.

The ETA for receiving the check is around 10 days. Until then, we will be unable to make any further payouts. We are exploring various options for returning your funds.

:-(

[coffeeandclove]

these exchanges will have to do better to keep customers.

[DannyHamilton]

these exchanges will have to do better to keep customers.

What are you talking about?  Keep what customers?  BitFloor has permanently ceased all operations and is working on returning everyone's non-bitcoin deposits.

[dwolfman]

Still no change from the last note on the website.  Anyone heard anything?

And I still don't have my money.  :-(

[mufa23]

I logged in some days ago to try and withdraw (ACH) my $0.75. But since it's under a dollar, so it wouldn't let me (not like I really care anyway). They haven't contacted me, and it hasn't show up in my bank yet. That's all I know thus far.

[nearmiss]

almost went with Bitfloor was just getting into this...Libertybit it is A good Canadian Company.

old post, but just wanted to say, thanks for the heads up on Libertybit.  0.5% is a lot nicer than cavirterx's 3% per trade

[dwolfman]

And it looks like they are still waiting on the bank, straight off their website:

2013.05.01

We are still waiting to hear back from the bank regarding our remaining account balance.

[dwolfman]

At least there is a little progress:

2013.05.13

We have received the check and are working on a way to start returning funds. We do not yet have an ETA, but understand everyone is anxious to get their money back and we are trying to make that happen as quickly as possible.