in early stages of bitcoin era, the war on exchanges has started doing victims

[EuroTrash]

# Bitfloor just got their bank account closed
# Bitcoin-24 got both their German and Polish bank accounts frozen
# CaVirtEx got their Royal Bank account closed, not sure how to fund them right now
# MtGox survives and thrives although some users claim to be waiting since 2 weeks for SEPA withdrawals while for some others it works fine. And Bank of America has disabled transfers to their Japan account. BoA also claims the block is at Gox's Japanese bank.
# BTC-E rejects many claims of accounts being hacked - I wouldn't trust a Russian exchange run by unknown people anyway sorry.
# BitStamp survives and thrives so far thanks to lax legislation in Slovenia.
# BTCChina - no info at all about these?
# TradeHill - back from the dead - good for companies maybe. 10000$ minimum to get in and trade 1000$ at a time
# CampBX - this seems to be working although with very low daily limits

Did I forget anyone? Also pls correct anything inexact above.

[kokjo]

if current system is too bad, go use person-2-person transactions.

[MOB]

BTCChina is fine, but good luck getting your CNY out of there in any other form than BTC.  Of course if you are actually Chinese then it shouldn't be a problem.

[glendall]

Really? Geez.... I didn't know about these things happening...

Sucks most about RBC. Was going to open an account there because of that ability to transfer money to CaVirtEx.

[wobber]

Close the bank accounts and price WILL skyrocket.

[kokjo]

Close the bank accounts and price WILL skyrocket.

wrong. people will panic, and lose faith in bitcoin.

[Chalkbot]

Close the bank accounts and price WILL skyrocket.

wrong. people will panic, and lose faith in bitcoin.

How could you lose faith in bitcoin when it's entire purpose is to protect against a governing entity severing you from your cash... and that is exactly what is happening here. Bitcoin withdrawls still functioning normally!

[wobber]

Close the bank accounts and price WILL skyrocket.

wrong. people will panic, and lose faith in bitcoin.

Or start using it, not speculating.

[kokjo]

I CAN'T GET MY MONEY BACK! SELL SELL SELL! ARRRHRHRHRH!!!

[BTC Books]

Camp BX should start to do pretty well...

[Frozenlock]

Did CaVirtEx close their RBC account themselves, or was it the bank's decision?

[dbanga85]

you don't need Exchanges to get Cash or BTC..

[BitcoinAshley]

Well, you forgot a lot, since exchanges are popping up left and right these days, with numerous funding options.

However, OTC is ALWAYS an option unless you're a day-trader or a speculator trying to make short-term gains by getting in at the perfect price. For most folks going long on BTC and using it for online purchases, OTC is a great option. I'm mainly referring to OTC - cash in person, but there is also online OTC for those who know how WoT works.
Sooner rather than later we're going to start to see coin shops buying and selling btc  

[glendall]

I guess that may be a plus side: if banks shutter there doors to BTC then they'll likely be less speculators because it is too much of a hassle transferring funds in and out, and that it turn I'd expect would lead to more price stabilization .

[600watt]

I guess that may be a plus side: if banks shutter there doors to BTC then they'll likely be less speculators because it is too much of a hassle transferring funds in and out, and that it turn I'd expect would lead to more price stabilization .

the opposite is true. the harder it is to particitpate for the average person the lesser will those people pour into the btc system. the only way for btc to get recognized more is its usage among ordinary people. if that fails, btc will fail. we need to get people INTO the system. as soon as one has some btc in a wallet, he or she starts taking care of it, gets informed, gets involved. and that is what we need. user friendliness.

[uMMcQxCWELNzkt]

None of my BTC have come from exchanges, or even from buying or mining as of yet, as it is complicated in the UK I have been improvising lol .

[hlynur]

bought most of my bitcoins via bitcoin.de.
it's a relatively small exchange with direct money transfers between user's bank accounts. (ca. 50.000 user accounts so far)
(prices compared to mt. gox suck big time, but i still wait for finishing of my sepa transfer and right now I'm not too sure how long the gox account in poland will stay as it's mentioned others there are already shut down)
today that exchange anounced a planned collaboration with some partner from financial sector (perhaps in germany?) which could lead to some bigger exchange in europe.
we'll see if it's just bragging but it definitively sounds like some good developement for european exchanges.
And somewhere on the forums i read that there's some exchange soon to open in london.
I'm curious how governments will start reacting to the fast expansion of this sector.

[Luis_GT]

You haven't been here long since you failed to mention tradehill 

[BTC Books]

You haven't been here long since you failed to mention tradehill 

Indeed.  There's a reason why most of the old-timers won't use Dwolla, and never will.

[Luis_GT]

I almost forgot... bitcoinica... for those of us who where Zhou tongued 

[NikolaTesla]

Exchanges will come and go, that's just part of the evolution of bitcoin. As exchanges close, others will open. We've seen several stories recently of venture capitalists and entrepreneurs starting new bitcoin exchanges and there's even the guy who is creating bitcoin ATM's.

[Luis_GT]

You haven't been here long since you failed to mention tradehill 

Indeed.  There's a reason why most of the old-timers won't use Dwolla, and never will.

I don't have much choice, as OKpay sucks...

I have a dwolla account, but no funding in it... and I will only do small transactions in order to avoid losing

but still


http://venturebeat.com/2012/03/07/tradehill-sues-suing-dwolla-bitcoin/

[BTC Books]

You haven't been here long since you failed to mention tradehill 

Indeed.  There's a reason why most of the old-timers won't use Dwolla, and never will.

I don't have much choice, as OKpay sucks...

I have a dwolla account, but no funding in it... and I will only do small transactions in order to avoid losing

but still


http://venturebeat.com/2012/03/07/tradehill-sues-suing-dwolla-bitcoin/

The article in your link is filled with inaccuracies.  But honestly, the hours and hours involved with going back and reading the threads as it all actually unfolded would be more work than I'd ever wish on anyone.

Put it this way:  Tradehill is back, and they haven't had any difficulty getting customers.  If I was a trader and wanted to put in their minimum, I'd be there in a heartbeat.

[antimattercrusader]

# Bitfloor just got their bank account closed
# Bitcoin-24 got both their German and Polish bank accounts frozen
# CaVirtEx got their Royal Bank account closed, not sure how to fund them right now
# MtGox survives and thrives although the SEPA transfers are crippled by insufficient daily limit of their Polish bank account
# BTC-E rejects many claims of accounts being hacked - I wouldn't trust a Russian exchange run by unknown people anyway sorry.
# BitStamp survives and thrives so far thanks to lax legislation in Slovenia.
# BTChina - no info at all about these?

Did I forget anyone? Also pls correct anything inexact above.

Forgive me, but what is the URL for BTChina?


EDIT: Nevermind, https://btcchina.com/

[Luis_GT]

The article in your link is filled with inaccuracies.  But honestly, the hours and hours involved with going back and reading the threads as it all actually unfolded would be more work than I'd ever wish on anyone.

Put it this way:  Tradehill is back, and they haven't had any difficulty getting customers.  If I was a trader and wanted to put in their minimum, I'd be there in a heartbeat.

Saw it a month ago, but the 10K initial investment is steep, I started with only 1K back in the day... lol

[shmadz]

# CaVirtEx got their Royal Bank account closed, not sure how to fund them right now


Did I forget anyone? Also pls correct anything inexact above.

I don't know the exact details of why the RBC account was closed, here is an excerpt from their announcement:

" 1. Our Royal Bank account will be closing on April 5, 2013. Cash payments will no longer be accepted at any RBC branch after April 5, 2013. You may still make cash payments to BMO and Scotiabank. Bill payments are not affected by this close."

Bill payments are by far the easiest of all the payment types, it's exactly like paying your cable bill. and it's pretty fast, like a couple days? I've only tried it once, just to verify how it worked (I'm a miner, when I want to invest in bitcoin I give money to the computer hardware vendor, not the exchange)

I've also verified that this change had no effect on withdrawing fiat dollars from the exchange, which also takes a couple days. (at about the same time as this announcement, I had run out of bitcoins that I was willing to part with and I cashed out)

In my experience cavirtex is top-notch. When gox is lagging this little canadian exchange just keeps on chugging. Though be warned the fees are rather high.

[Frozenlock]

Rather high? They are insane!

Now with Libertybit we have a little competition. Good. 

[BitcoinAshley]

I've been checking out CampBX. They're definitely going for the wow factor with their website (as in, professional wow factor). That kind of thing tends to make me skeptical that perhaps too much effort is spent on image and not enough on infrastructure and security... but I'll give them a try and see what happens.

One of their funding options is to mail a USPS money order. This is pretty darn convenient; not as convenient as Bitfloor's BoA cash deposit but hey you can't have everything.

There are plenty of exchange options, and for those who scoff that all the little exchanges aren't secure, and cite the many shutdowns -
(1) May I remind you that MtGox was once hacked 
(2) For as many exchanges that have shutdown or scammed, there are many more that are just starting or have had their act together for a while, just have lower volume.

In addition, some of the shutdowns haven't been security related. Having your funds in Bitfloor recently wasn't a security risk as was suggested - none of the funds or BTC are at risk - they just got a whack in the balls by having their account closed, not much one can do when the bank is against you. My BTC is already out and my USD will be out in 2-3 business days. Trading suspended doesn't mean there's a security risk to my money.

So when looking at the exchange FUD, remember that there are exchanges you haven't heard of, exchanges with great track records, and of the shutdowns, many simply aren't security related. Also remember that a lot of the exchanges in the early days (some of which still exist) are run by people who have no idea what they're doing. We're starting to see more professional exchanges (as they collectively learn from Gox's and each others' mistakes)

And of course, obligatory statement about how much you can trust ANY foreign entity... I spread my funds between exchanges so if one DOES get hacked, my trading ability is not completely neutered.

[EuroTrash]

You haven't been here long since you failed to mention tradehill 

TradeHill huh? I thought they were bankrupt. Googled for them now. I'll update the thread so.

I had a look now. Clearly they are rebranding it into some sort of exclusive club. I qualify for membership yeah. But no thanks because F*CK YOU SNUBS.

I don't see anywhere mention of their fees anyway?

[EuroTrash]

Indeed.  There's a reason why most of the old-timers won't use Dwolla, and never will.

Ah well, in the early days I used Paxum. I also had a Dwolla account which I believe I never really used due to the high fees. Not sure now, too many parties have passed since. Last year I deleted my Dwolla account right after reading the TradeHill story. They still occasionally spam my mailbox.

[GeoRW]

I mostly use bitcoin.de which is a peer-to-peer exchange, similarly to eBay people sell to each other and bitcoin.de works like a middle man blocking bitcoins while the transaction is ongoing. That's the way forward though you cannot buy/sell huge amounts this way and trade in real time with bots.

[Francesco]

# Bitfloor just got their bank account closed
# Bitcoin-24 got both their German and Polish bank accounts frozen
# CaVirtEx got their Royal Bank account closed, not sure how to fund them right now
[...]
# BitStamp survives and thrives so far thanks to lax legislation in Slovenia.
[...]

Maybe it's people blaming the exchanges for their losses?

How exactly does the difference in legislation matters?

(how exactly can I trust it, since my money is in Bitstamp?)

[solex]

# Bitfloor just got their bank account closed
# Bitcoin-24 got both their German and Polish bank accounts frozen
# CaVirtEx got their Royal Bank account closed, not sure how to fund them right now
# MtGox survives and thrives although the SEPA transfers are crippled by insufficient daily limit of their Polish bank account
# BTC-E rejects many claims of accounts being hacked - I wouldn't trust a Russian exchange run by unknown people anyway sorry.
# BitStamp survives and thrives so far thanks to lax legislation in Slovenia.
# BTCChina - no info at all about these?
# TradeHill - back from the dead - good for companies maybe. 10000$ minimum to get in and trade 1000$ at a time
# CampBX - this seems to be working although with very low daily limits

Did I forget anyone? Also pls correct anything inexact above.

This, taken all together, is quite serious. A true global currency needs many large exchange services to/from fiat. The manual, ebay, face-to-face and other fallback options are fine for the minor coins, but not good enough for BTC to do anything except limp along. Without Mt Gox they would still be worth $2 each. I hope they keep going as well as they are.

We need the London-based exchange Max Kaiser mentioned, and companies like xe.com and oanda.com to take up Bitcoin too.

[Viceroy]

We need the London-based exchange Max Kaiser mentioned, and companies like xe.com and oanda.com to take up Bitcoin too.

Come help us create the specifications....   
https://bitcointalk.org/index.php?topic=179147

[epetroel]

# Bitfloor just got their bank account closed
# Bitcoin-24 got both their German and Polish bank accounts frozen
# CaVirtEx got their Royal Bank account closed, not sure how to fund them right now
# MtGox survives and thrives although the SEPA transfers are crippled by insufficient daily limit of their Polish bank account
# BTC-E rejects many claims of accounts being hacked - I wouldn't trust a Russian exchange run by unknown people anyway sorry.
# BitStamp survives and thrives so far thanks to lax legislation in Slovenia.
# BTCChina - no info at all about these?
# TradeHill - back from the dead - good for companies maybe. 10000$ minimum to get in and trade 1000$ at a time
# CampBX - this seems to be working although with very low daily limits

Did I forget anyone? Also pls correct anything inexact above.

Let's see.. I can think of a few others

ExchangeBitcoins.com - One of the first, closed down in an orderly fashion (can't remember why off hand)
Bitcoinica - Crashed and burned due to multiple hacks (or looted by Zhou)
Bitcoin7 - Disappeared (can't remember if this one was hacked or looted by the owners)
CryptoXChange - probably looted by the owners.
Intersango.com - still technically alive, but pretty much on life support.

[Richy_T]

Exchanges will come and go, that's just part of the evolution of bitcoin. As exchanges close, others will open. We've seen several stories recently of venture capitalists and entrepreneurs starting new bitcoin exchanges and there's even the guy who is creating bitcoin ATM's.

And that's fine except they're taking large quantities of peoples funds with them. If Bitcoin-24 had said "We're being shut down, please check your accounts, you should find a full refund of your deposited balances" it would not be great but it would be OK. People (fortunately, not me) have big money tied up with someone who has not seen fit to issue more than a couple of paragraphs in explanation.

[manfred]

# Bitfloor just got their bank account closed
# Bitcoin-24 got both their German and Polish bank accounts frozen
# CaVirtEx got their Royal Bank account closed, not sure how to fund them right now
# MtGox survives and thrives although the SEPA transfers are crippled by insufficient daily limit of their Polish bank account
# BTC-E rejects many claims of accounts being hacked - I wouldn't trust a Russian exchange run by unknown people anyway sorry.
# BitStamp survives and thrives so far thanks to lax legislation in Slovenia.
# BTCChina - no info at all about these?
# TradeHill - back from the dead - good for companies maybe. 10000$ minimum to get in and trade 1000$ at a time
# CampBX - this seems to be working although with very low daily limits

Did I forget anyone? Also pls correct anything inexact above.

Let's see.. I can think of a few others

ExchangeBitcoins.com - One of the first, closed down in an orderly fashion (can't remember why off hand)
Bitcoinica - Crashed and burned due to multiple hacks (or looted by Zhou)
Bitcoin7 - Disappeared (can't remember if this one was hacked or looted by the owners)
CryptoXChange - probably looted by the owners.
Intersango.com - still technically alive, but pretty much on life support.

Lets not forget Bitmarket.eu   20 000 bitcoins gone

[Rygon]

You haven't been here long since you failed to mention tradehill 

Indeed.  There's a reason why most of the old-timers won't use Dwolla, and never will.

What's the issue with Dwolla? If it's only used as a passthrough from a local bank account to MtGox, there shouldn't be any risk of losing funds. The fee is negligible, the only downside is that it usually takes about a week to funds.

[kiko]

Britcoin was possibly the first bank inflicted casualty, should be in the list.

[DoomDumas]

CaVirtex.com with BMO = very nice, it takes 24 to 48 hours, Deposit or Witdraw...

I've made several transactions, both ways, always fast and effective !

+1 CaVirtex !!!

[antimattercrusader]

We need a wide array of exchanges, both the decentralized and centralized.

I am all for down with the banks, but when you think about it, the concept of a bank is not "evil." They perform a service, and what we have now have gotten a bit overzealous lol, but it doesn't have to be that way. If an FDIC insured fiat bank put bitcoin into their mix, that might be an entity we can trust, and for those who don't, the free market will bring them decentralized exchanges too.

Imo.

[dg2010]

if current system is too bad, go use person-2-person transactions.

Because that's so easy to do right? Wake up. Bitcoin will die a slow death if the only thing left is P2P exchange.

[kokjo]

if current system is too bad, go use person-2-person transactions.

Because that's so easy to do right? Wake up. Bitcoin will die a slow death if the only thing left is P2P exchange.

no it wil not.

[BitcoinAshley]

Nice history lesson here. So we can see that throughout the history of bitcoins, NUMEROUS exchanges have been closing, some returning funds, some just stealing funds, some being hacked -
And bitcoins aren't $2.

So the FUD is useless.

Exchanges have CONSTANTLY been closing, hacked, looted by owners, shut down by banks - for as long as the old-timers can remember.

And bitcoins aren't $2.

And are still gaining in popularity and adoption.

LOL. Go bitcoin!

Wait, there are people saying that P2P will kill bitcoin -
1) It is very unlikely that we will ever have to resort to 100% P2P, seeing as exchanges have been shutting down left and right for the last 2 years yet I still have more exchanges to choose from than I can count on my ten fingers.
2) How do you get fiat cash money? How do you get apples and oranges? What about shampoo or a car? OH RITE... P2P. Tell me more about how all of those markets are dead...

LOL. Keep trying, FUD trolls.

[epetroel]

You haven't been here long since you failed to mention tradehill 

Indeed.  There's a reason why most of the old-timers won't use Dwolla, and never will.

What's the issue with Dwolla? If it's only used as a passthrough from a local bank account to MtGox, there shouldn't be any risk of losing funds. The fee is negligible, the only downside is that it usually takes about a week to funds.

The issue with Dwolla is that back in the day they screwed over Tradehill (and probably MtGox and ExchangeBitcoins.com as well) to the tune of tens of thousands of dollars.

In a nutshell, it went like this:

1.  Dwolla's marketing claimed that Dwolla payments were irreversable.
2.  Because of (1) lots of exchanges accepted Dwolla.
3.  People started defrauding Dwolla using stolen bank account information, transferring money to exchanges and running off with the coins.
4.  Rather than sucking it up and improving their security measures, Dwolla started secretly debiting the exchanges Dwolla accounts - erasing the fraudulant transactions and clawing the money back from the exchanges.
5.  Once the exchanges figured this out, there was quite an uproar.  ExchangeBitcoins stopped accepting Dwolla and closed down soon after.  Tradehill did the same (and sued Dwolla as I understand it).

Since then it seems like Dwolla has beefed up their verification standards so this is less of an issue now, but lots of people are still (justifiably) butthurt about it.

[Viceroy]

Exchanges will come and go, that's just part of the evolution of bitcoin. As exchanges close, others will open. We've seen several stories recently of venture capitalists and entrepreneurs starting new bitcoin exchanges and there's even the guy who is creating bitcoin ATM's.

we cannot wait.  we need better yesterday

https://bitcointalk.org/index.php?topic=179147

[DeathAndTaxes]

you don't need Exchanges to get Cash or BTC..

Well an individual might not but a business does.  If businesses can't sell coins (in mass i.e. thousands of BTC a week) to cover their USD costs then they can't accept Bitcoins.  If businesses can't accept Bitcoins then what is the point in user adoption.

Note I am not bearish.  These challenges will be overcome just pointing out that despite you being able to meet someone at starbucks to exchange $100 for BTC doesn't mean that exchanges aren't necessary.  I will give you one example.  In March we sold about $500K worth of bullion for BTC.  I am not going to meet people in person every day to try an unload $500K worth of BTC.  Even if I could it would massively increase my costs/time AND  I would become a bitcoin speculator (I likely would need to be long tens of thousands of BTC at any period of time).

Now imagine a company doing 10x as much volume or 100x.  Even that isn't nothing like a major corporation.  Exchanges are necessary. 

[Rygon]

The issue with Dwolla is that back in the day they screwed over Tradehill (and probably MtGox and ExchangeBitcoins.com as well) to the tune of tens of thousands of dollars.

In a nutshell, it went like this:

1.  Dwolla's marketing claimed that Dwolla payments were irreversable.
2.  Because of (1) lots of exchanges accepted Dwolla.
3.  People started defrauding Dwolla using stolen bank account information, transferring money to exchanges and running off with the coins.
4.  Rather than sucking it up and improving their security measures, Dwolla started secretly debiting the exchanges Dwolla accounts - erasing the fraudulant transactions and clawing the money back from the exchanges.
5.  Once the exchanges figured this out, there was quite an uproar.  ExchangeBitcoins stopped accepting Dwolla and closed down soon after.  Tradehill did the same (and sued Dwolla as I understand it).

Since then it seems like Dwolla has beefed up their verification standards so this is less of an issue now, but lots of people are still (justifiably) butthurt about it.

Ahh. OK. Thanks for the explanation. I'd be pissed to if I ended up getting screwed because of Dwolla too, even if it seems like they have fixed things.

[EuroTrash]

updated thread with MtGox SEPA delays and Bank of America issues.

[Slix]

if current system is too bad, go use person-2-person transactions.

Because that's so easy to do right? Wake up. Bitcoin will die a slow death if the only thing left is P2P exchange.

no it wil not.

How do you plan on getting the merchants and average non-tech savvy Joe onboard with using bitcoin as their main form of currency if they have to jump through hoops to get some in or out?

Believe it or not the rest of the world outside the (pretty small) bitcoin community very much runs on fiat. If you don't make this easy as hell as in the click of a button or an ATM machine screen, then they won't get onboard. Nobody will take it seriously and it will remain traded by just a bunch of "geeks and hackers" as the MSM puts it.

Exchanges are the key to this and our current Achilles' heel vs banks and governments until the world is free of fiat.

[donjoe]

How could you lose faith in bitcoin when it's entire purpose is to protect against a governing entity severing you from your cash... and that is exactly what is happening here. Bitcoin withdrawls still functioning normally!

Errr, NO, they're not still functioning normally. Currently all my BTC are stuck in bitcoin-24.com's coldwallet(s) because somehow the baseless legal action taken against Simon has not only left him without access to his fiat accounts but also determined(?) him to stop processing BTC withdrawals.

If your BTC can get stuck inside or disappear together with an exchange's wallets, how is this better than using fiat and banks? And if numerous customers can lose their BTC instantly when their exchange collapses, how are they supposed to ever trust anyone with their BTC ever again? This is what all the wide-eyed "Libertarians" don't understand about their precious completely-free-market type systems: they either suffer from huge trust issues or gradually develop more and more state-like security solutions (typically the second, because most people like a good dose of security in their lives).

[MykelJH]

if current system is too bad, go use person-2-person transactions.

Because that's so easy to do right? Wake up. Bitcoin will die a slow death if the only thing left is P2P exchange.

no it wil not.

How do you plan on getting the merchants and average non-tech savvy Joe onboard with using bitcoin as their main form of currency if they have to jump through hoops to get some in or out?

Believe it or not the rest of the world outside the (pretty small) bitcoin community very much runs on fiat. If you don't make this easy as hell as in the click of a button or an ATM machine screen, then they won't get onboard. Nobody will take it seriously and it will remain traded by just a bunch of "geeks and hackers" as the MSM puts it.

Exchanges are the key to this and our current Achilles' heel vs banks and governments until the world is free of fiat.

This is how I feel as I fit the average joe that isn't tech savvy at all. I find it overwhelming still, but still sticking with it mainly because I love e idea and see the potential. I cannot say the same with people I have talked too about it, I get em excited they see how much work it is and then get bored

[Chalkbot]

How could you lose faith in bitcoin when it's entire purpose is to protect against a governing entity severing you from your cash... and that is exactly what is happening here. Bitcoin withdrawls still functioning normally!

Errr, NO, they're not still functioning normally. Currently all my BTC are stuck in bitcoin-24.com's coldwallet(s) because somehow the baseless legal action taken against Simon has not only left him without access to his fiat accounts but also determined(?) him to stop processing BTC withdrawals.

If your BTC can get stuck inside or disappear together with an exchange's wallets, how is this better than using fiat and banks? And if numerous customers can lose their BTC instantly when their exchange collapses, how are they supposed to ever trust anyone with their BTC ever again? This is what all the wide-eyed "Libertarians" don't understand about their precious completely-free-market type systems: they either suffer from huge trust issues or gradually develop more and more state-like security solutions (typically the second, because most people like a good dose of security in their lives).

Sorry, I had not heard that bit of news. It is worrisome, but I wonder how exactly this is being enforced? I would be suspicious of the exchange that doesn't just restore the backup and give everyone their coins.

[wonkytonky]

Die Gründe für die Schließung unserer Konten durch internationale Großbanken sind uns nun bekannt und rechtlich mehr als fragwürdig. Unsere Rechtsanwälte gehen mit aller Konsequenz gegen dieses Verhalten vor. Wir gehen davon aus, dass wir kurzfristig wieder vollständig handlungsfähig sind und alle Geschäfte mit noch größerem Engagement im Sinne aller Nutzer vorantreiben können. Die Sorgen der Großbanken sind uns ein zusätzlicher Ansporn dabei! Wir werden sie zeitnah über die weitere Entwicklung informieren.
(English this evening)


basicaly..   bitcoin24 will come back !  

[keewee]

Die Gründe für die Schließung unserer Konten durch internationale Großbanken sind uns nun bekannt und rechtlich mehr als fragwürdig. Unsere Rechtsanwälte gehen mit aller Konsequenz gegen dieses Verhalten vor. Wir gehen davon aus, dass wir kurzfristig wieder vollständig handlungsfähig sind und alle Geschäfte mit noch größerem Engagement im Sinne aller Nutzer vorantreiben können. Die Sorgen der Großbanken sind uns ein zusätzlicher Ansporn dabei! Wir werden sie zeitnah über die weitere Entwicklung informieren.
(English this evening)


basicaly..   bitcoin24 will come back !  

Google Translate: The reasons for the closing of our accounts with major international banks are now known to us and legally more than questionable. Our lawyers go before the full consequences to this behavior. We assume that we are ready again fully operational and all transactions can drive with even greater commitment on behalf of all users. The concerns of the major banks are us an additional incentive there! We will inform you promptly of further development.

[EuroTrash]

Die Gründe für die Schließung unserer Konten durch internationale Großbanken sind uns nun bekannt und rechtlich mehr als fragwürdig. Unsere Rechtsanwälte gehen mit aller Konsequenz gegen dieses Verhalten vor. Wir gehen davon aus, dass wir kurzfristig wieder vollständig handlungsfähig sind und alle Geschäfte mit noch größerem Engagement im Sinne aller Nutzer vorantreiben können. Die Sorgen der Großbanken sind uns ein zusätzlicher Ansporn dabei! Wir werden sie zeitnah über die weitere Entwicklung informieren.
(English this evening)


basicaly..   bitcoin24 will come back !  

Google Translate: The reasons for the closing of our accounts with major international banks are now known to us and legally more than questionable. Our lawyers go before the full consequences to this behavior. We assume that we are ready again fully operational and all transactions can drive with even greater commitment on behalf of all users. The concerns of the major banks are us an additional incentive there! We will inform you promptly of further development.

Not that easy. You can't unblock a bank account with a litigation in progress.
But he just spoke to his lawyer - who for the first time gave him some hope, so he is on a high.

This Simon guy desperately needs a holiday.

[Richy_T]

Not that easy. You can't unblock a bank account with a litigation in progress.
But he just spoke to his lawyer - who for the first time gave him some hope, so he is on a high.

This Simon guy desperately needs a holiday.

The bitcoins of mine that I can't access don't require a bank. And I only have/had a few there. I can only imagine what those with substantial funds tied up feel like.

[dbc_amp]

updated thread with MtGox SEPA delays and Bank of America issues.

Update it again. This morning my SEPA transfer arrived. Less than 48h, as always.

[EuroTrash]

updated thread with MtGox SEPA delays and Bank of America issues.

Update it again. This morning my SEPA transfer arrived. Less than 48h, as always.

Done. But mine didn't, and it's already 6 days.

[navigator]

I prefer virwox. Been using them since last Nov for buying and light trading. They have been around since before bitcoin. I believe they could be the most trustworthy exchange. If i'm in a hurry to get bitcoins, I can get them within 5mins.

P.S. Someone just made a buy up to about $150 on virwox. I guess they really needed their coins lol. It caught one of my sells around $145, guess I'm looking to buy again

[dbc_amp]

updated thread with MtGox SEPA delays and Bank of America issues.

Update it again. This morning my SEPA transfer arrived. Less than 48h, as always.

Done. But mine didn't, and it's already 6 days.

Are you a verified user? Government issued ID with photo + utility Bill.

[EuroTrash]

updated thread with MtGox SEPA delays and Bank of America issues.

Update it again. This morning my SEPA transfer arrived. Less than 48h, as always.

Done. But mine didn't, and it's already 6 days.

Are you a verified user? Government issued ID with photo + utility Bill.

Dude, I don't mean offense but you remind me of the Indian guy from my ISP support telling me on the phone to try and reboot the router.

[seleme]

I prefer virwox. Been using them since last Nov for buying and light trading. They have been around since before bitcoin. I believe they could be the most trustworthy exchange. If i'm in a hurry to get bitcoins, I can get them within 5mins.

P.S. Someone just made a buy up to about $150 on virwox. I guess they really needed their coins lol. It caught one of my sells around $145, guess I'm looking to buy again

virvox is good to send fiat there and to sell coins. Their fees are big, specially since ssl has to be bought first.

[hacknoid]

I prefer virwox. Been using them since last Nov for buying and light trading. They have been around since before bitcoin. I believe they could be the most trustworthy exchange. If i'm in a hurry to get bitcoins, I can get them within 5mins.

P.S. Someone just made a buy up to about $150 on virwox. I guess they really needed their coins lol. It caught one of my sells around $145, guess I'm looking to buy again

Their prices are always about 10-20% higher than Gox in equivalent $.  Never understood why... but if you are looking to sell and can get the money out (you can actually use Paypal to get the money into/out of virwox) its a good route. 

[Richy_T]

It is definitely the case that the weak-spot for Bitcoin currently is the need for interaction with the banks, the very entities which stand to lose a lot if Bitcoin succeeds.

[donjoe]

basicaly..   bitcoin24 will come back !

Apparently, yes - a lot of people have gotten their BTC back this week, including me.

Now what remains is the "small" matter of a few million EUR that are still stuck in the banks.

[Anon136]

I CAN'T GET MY MONEY BACK! SELL SELL SELL! ARRRHRHRHRH!!!

what... why would they sell if they cant get their money back? this is bonkers.

[solex]

It is definitely the case that the weak-spot for Bitcoin currently is the need for interaction with the banks, the very entities which stand to lose a lot if Bitcoin succeeds.

Yes. Which is why the solution lies in 1-way transfers, i.e. people only need to get out of fiat once and stay invested in Bitcoin.
This becomes more viable when more business accept Bitcoin. Fortunately, the trend is sharply up, every day more websites and brick-and-mortar shops are accepting it. After a few years the rolling snowball will be an avalanche!