Bitfloor closes down, but with no interest in making things right

[Razick]

Well, unfortunately, I have to post saying that I chose the wrong exchange. Yesterday, Bitfloor announced that trade was "suspending" (they really should look that up). Later on, they announced that:

I am sorry to announce that due to circumstances outside of our control BitFloor must cease all trading operations indefinitely. Unfortunately, our US bank account is scheduled to be closed and we can no longer provide the same level of USD deposits and withdrawals as we have in the past. As such, I have made the decision to halt operations and return all funds.

Over the next days we will be working with all clients to ensure that everyone receives their funds. Please be patient as we process your request.

It doesn't sound like suspending, but hey, at least they will be returning all funds, right? Wrong.

Sure, if I give them my bank account information, they'll send me my USD funds. However, I have no interest in doing that. I deposited Bitcoin and I want to get Bitcoin back. But they have announced via Twitter that funds will not be converted to BTC.

Well I'm sorry that it would be a pain in the ass for Bitfloor, but that is their problem. I want my money. I have no intent of giving them my bank info.

Bitfloor needs to own up and offer conversion to BTC. Hell, get a Bitstamp account and buy Bitcoins, then send them to my address.

They have no right to demand my personal financial information in order for me to receive money that belongs to me.

By the way, does Bitfloor intend to refund the "held" Bitcoins from the hack? That's rhetorical question mostly, because I think not.

Sorry for the rant, but seriously?

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[Bitmeat]

You guys are so gullible. Make an exchange or bank, wait a while till its full of BTC. Take everyone's BTC. Say you got hacked. Refund a little bit to show you care. Stash your anonymous fortune.

[etheral]

Well, unfortunately, I have to post saying that I chose the wrong exchange. Yesterday, Bitfloor announced that trade was "suspending" (they really should look that up). Later on, they announced that:

I am sorry to announce that due to circumstances outside of our control BitFloor must cease all trading operations indefinitely. Unfortunately, our US bank account is scheduled to be closed and we can no longer provide the same level of USD deposits and withdrawals as we have in the past. As such, I have made the decision to halt operations and return all funds.

Over the next days we will be working with all clients to ensure that everyone receives their funds. Please be patient as we process your request.

It doesn't sound like suspending, but hey, at least they will be returning all funds, right? Wrong.

Sure, if I give them my bank account information, they'll send me my USD funds. However, I have no interest in doing that. I deposited Bitcoin and I want to get Bitcoin back. But they have announced via Twitter that funds will not be converted to BTC.

Well I'm sorry that it would be a pain in the ass for Bitfloor, but that is their problem. I want my money. I have no intent of giving them my bank info.

Bitfloor needs to own up and offer conversion to BTC. Hell, get a Bitstamp account and buy Bitcoins, then send them to my address.

They have no right to demand my personal financial information in order for me to receive money that belongs to me.

By the way, does Bitfloor intend to refund the "held" Bitcoins from the hack? That's rhetorical question mostly, because I think not.

Sorry for the rant, but seriously?

so you would rather lose your money than give them a bank account? and why did you use them at all if they are an exchange and you only need bitcoins?
I guess your bitcoins are not very pure

[shamoons]

You guys are so gullible. Make an exchange or bank, wait a while till its full of BTC. Take everyone's BTC. Say you got hacked. Refund a little bit to show you care. Stash your anonymous fortune.

I've met Roman a number of times, and for what it's worth, he doesn't strike me as the "steal and run" kind of guy. He's deeply vested in the success of Bitcoin and cares about it for more than financial reasons.

[etheral]

You guys are so gullible. Make an exchange or bank, wait a while till its full of BTC. Take everyone's BTC. Say you got hacked. Refund a little bit to show you care. Stash your anonymous fortune.

I've met Roman a number of times, and for what it's worth, he doesn't strike me as the "steal and run" kind of guy. He's deeply vested in the success of Bitcoin and cares about it for more than financial reasons.

I lol'ed


or he can PM me, and I'll give my bank details if he doesn't want that money

[shamoons]

You guys are so gullible. Make an exchange or bank, wait a while till its full of BTC. Take everyone's BTC. Say you got hacked. Refund a little bit to show you care. Stash your anonymous fortune.

I've met Roman a number of times, and for what it's worth, he doesn't strike me as the "steal and run" kind of guy. He's deeply vested in the success of Bitcoin and cares about it for more than financial reasons.

I lol'ed

lulzzzz - why?

[glendall]

Bitfloor didn't claim they got hacked.

They had their banking accounts frozen, apparently.

[Bitmeat]

You guys are so gullible. Make an exchange or bank, wait a while till its full of BTC. Take everyone's BTC. Say you got hacked. Refund a little bit to show you care. Stash your anonymous fortune.

I've met Roman a number of times, and for what it's worth, he doesn't strike me as the "steal and run" kind of guy. He's deeply vested in the success of Bitcoin and cares about it for more than financial reasons.

Usually the scammers tend not to be shifty types. You always see the quote from the victim on tv "he was such a nice young fellow, he talked so passionately about his investments"

Too early to judge, but in all seriousness, have you seen the sheer amount of hacked sites holding bitcoins in the last couple years. It's statistically impossible that that many people are that retarded when it comes to security.

[alexh]

Another frozen bank account incident? Suspicous, i can't really trust any online market anymore.

[Razick]

You guys are so gullible. Make an exchange or bank, wait a while till its full of BTC. Take everyone's BTC. Say you got hacked. Refund a little bit to show you care. Stash your anonymous fortune.

I've met Roman a number of times, and for what it's worth, he doesn't strike me as the "steal and run" kind of guy. He's deeply vested in the success of Bitcoin and cares about it for more than financial reasons.

I believe you there, but he needs to man up and meet obligations. He's offering me my money; but only if I jump through his hoops.

Well, unfortunately, I have to post saying that I chose the wrong exchange. Yesterday, Bitfloor announced that trade was "suspending" (they really should look that up). Later on, they announced that:

I am sorry to announce that due to circumstances outside of our control BitFloor must cease all trading operations indefinitely. Unfortunately, our US bank account is scheduled to be closed and we can no longer provide the same level of USD deposits and withdrawals as we have in the past. As such, I have made the decision to halt operations and return all funds.

Over the next days we will be working with all clients to ensure that everyone receives their funds. Please be patient as we process your request.

It doesn't sound like suspending, but hey, at least they will be returning all funds, right? Wrong.

Sure, if I give them my bank account information, they'll send me my USD funds. However, I have no interest in doing that. I deposited Bitcoin and I want to get Bitcoin back. But they have announced via Twitter that funds will not be converted to BTC.

Well I'm sorry that it would be a pain in the ass for Bitfloor, but that is their problem. I want my money. I have no intent of giving them my bank info.

Bitfloor needs to own up and offer conversion to BTC. Hell, get a Bitstamp account and buy Bitcoins, then send them to my address.

They have no right to demand my personal financial information in order for me to receive money that belongs to me.

By the way, does Bitfloor intend to refund the "held" Bitcoins from the hack? That's rhetorical question mostly, because I think not.

Sorry for the rant, but seriously?

so you would rather lose your money than give them a bank account? and why did you use them at all if they are an exchange and you only need bitcoins?
I guess your bitcoins are not very pure

Because I like to trade Bitcoins, my issue is not that he'll only refund USD, but that I have to give him my bank info for that. It's just a savings account and I prefer not to give it out online. My deposit was in BTC and I expect to be able to withdraw it the same way. This is obviously unlikely, but what if I didn't even have a bank account?

You didn't own those bitcoins at the time BitFloor shut down, you deposited them to an exchange and then converted them to dollars (if I'm understanding correctly).

There is risk using an exchange, bank, storage facility, et cetera. This is precisely why some of us use Bitcoin, to avoid that risk. Yet, you decided, for whatever reason, it was worth the risk to send your coins somewhere else and exchange them to fiat. Now you are facing the repercussions of taking that risk.

BitFloor is providing you with a means of withdrawing the funds you chose to have in your account, dollars. What's the problem?

Because when I decided to start trading Bitcoin was overvalued. I sold for dollars to avoid the crash (which I expected). I want to re-buy when the price stabilizes or falls a bit more.

yet you made all the decisions leading to them holding your dollars

Yes, but they were deceptive: 1) I gave them the money with the expectation of the ability to trade. 2) They said they were "suspending" trade, suggesting that it would resume, and that I would be able to trade again.

They are now "holding my dollars" only because they hid the truth.

[randrace]

[Brushan]

Man we really need a professional exchange. It's either Mt.Gox or shit like this. Any news on the Max Keiser London project?

[Come-from-Beyond]

I want my money. I have no intent of giving them my bank info.

Give bank info of ur friend. The friend will give u the money after it arrives. Seems to be easy.

[Razick]

That's the attitude that holds Bitcoin back. Until Bitcoin companies act like real, responsible businesses, we'll keep having shit happen. When shit happens, people on the fence about Bitcoin fall off (I'm not one of those people, I jumped the fence a week after I heard about it, but you get the point).

[nevafuse]

I want my money. I have no intent of giving them my bank info.

Give bank info of ur friend. The friend will give u the money after it arrives. Seems to be easy.

I'll be that friend for a 5% fee.

[Razick]

I want my money. I have no intent of giving them my bank info.

Give bank info of ur friend. The friend will give u the money after it arrives. Seems to be easy.

I'll be that friend for a 5% fee.

Thanks for the offer  , but I'm just going to suck it up and use my own.

[meangreen]

sounds like the law shut down bitfloor and said we want the bank account info on this or these or all of the account holders would be any easy way to bust people for illegal activities.

[crazy_rabbit]

You guys are so gullible. Make an exchange or bank, wait a while till its full of BTC. Take everyone's BTC. Say you got hacked. Refund a little bit to show you care. Stash your anonymous fortune.

I've met Roman a number of times, and for what it's worth, he doesn't strike me as the "steal and run" kind of guy. He's deeply vested in the success of Bitcoin and cares about it for more than financial reasons.

I believe you there, but he needs to man up and meet obligations. He's offering me my money; but only if I jump through his hoops.

His hoops are probably determined by the law.

[MykelJH]

is there anything to say we wont get funds back? I too am VERY skeptical because the whole thing is sketchy. Some people get emails some dont, hell I only had usd in bitfloor for 2 whole days and it shut down. On the other hand I am hoping i get my funds that i requested back. I can honestly say that if I dont it would be the end of bitcoin for me unfortunately. Although I believe in it.

[Razick]

is there anything to say we wont get funds back? I too am VERY skeptical because the whole thing is sketchy. Some people get emails some dont, hell I only had usd in bitfloor for 2 whole days and it shut down. On the other hand I am hoping i get my funds that i requested back. I can honestly say that if I dont it would be the end of bitcoin for me unfortunately. Although I believe in it.

We can get our funds back, IF we give them our bank info. I have not gotten any replies to my support emails. Yet. It would not be the end of Bitcoin, it'd make it but it could be a setback. Honestly though, I think the media will mostly ignore Bitfloor.