Bitcoin7.com - is it safe?

[Fireball]

I would suggest to look at volumes. If some exchange advertises that it's the best throughout whole forum, but noone uses it - it makes sense to think twice before trying it out with big money.

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[zerokwel]

I am going to try It as its the only one I can deposit money with Instant. Well having to use paysafe so walk to corner shop and back 10 mins is better than the current few days

[kostia]

I used it with amount about $200 - everything went smoothly, instant deposit and instant withdrawal. The only drawback I see is the low trading volume.

[TheColdOne]

Bitcoin7 has worked alot better for me in the past week than MtGox. MtGox didn't bother to complete Liberty Reserve withdraws that I ordered about a day before they had the problems. There is no reason why MtGox can't send me Liberty Reserve that has nothing to do with and predates any hacking attempt. I have done several LR withdraws from Bitcoin7 in the past few days and they have all been within 3 hours or so. That is much better and more professional in my opinion than MtGox who does LR withdraws in 3 days or as long as they feel like keeping you waiting. I'm sure Bitcoin7 has some security and software flaws as do all websites. But right now I think there biggest problem is that they don't have enough users.

[Hellobtc]

i will try this later 

[zerokwel]

trying this service now. deposit was Instant so far so good.. Time will tell..

Edit

sale went though fine. yes it is 5% for paysafe. I would like an option to change between euro and usd though.

[rizzn]

I've used all the exchanges including Bitcoin7. Don't put all your eggs in one basket.

Comparatively, Bitcoin7 so far has one of the fastest withdrawal times to either dwolla or LR. They're easy to use as well. You can see all the bids and asks on one page in a clear format.

As far as how secure their site is - I have no idea. Again, don't put all your eggs in one basket. Or all your bitcoins in one exchange.

Since you're a user of BC7 - can you tell me how their trade API compares to other markets? The link seems to be dead in the footer, but if they have a working API and fast payout times, it's definitely worth a look.

[Shades]

I've tried it a few times and it works just fine. The transfers are superfast. They started on the wrong foot with all the copied stuff, but I think in time bitcoin7 will establish a good service. Relatively small market though ...

Just to make things clear I'm from Bulgaria, the "place particularly reknowned for shady internet business practices" (which is a total BS an a typical ignorant ass statement, but we are used to it). The company behind Bitcoin7 is not very known here, but there is no negative chatter either. I guess time will tell, but so far so good (especially when their bank account is at the same bank I'm using = 1hr transfers  )

[Shades]

Every day a new reason for facepalming. Quite a few today ...

I guess rumours and chatter are the best source of information these days. Still cannot believe what poor perception of the world some people have. But hey, no problem as yet we are just embracing the Dark ages in BG. Just a bunch of uneducated, clueless internet trolls we are ...

[davout]

Even people who were born there don't want to stick around.
[...]
Rumours and chatters indeed.

How about you don't derail this thread and stay away if you don't want to do business with bitcoin7 ? Thank you.

[Shades]

Even people who were born there don't want to stick around.

Extremely redneck of you to say that. Just glad that's not the story with the most part of the BTC community. If you were a little bit more informed (not CIA - really hypocritical when they speak about drugs   ) you should know that almost every country in the EU suffers from negative population growth. Just a question of culture ...

And this is my last point not regarding the topic.

Now on the topic - here is an open letter from bitcoin7. Almost everything is previously mentioned in other topics. So almost no news there http://forum.bitcoin.org/index.php?topic=21526.0;topicseen They did a REAL mess on the start. Hope things will turn well. I really like the design and the fast BG>BG transfers.

[PatrickHarnett]

Looks like the best thread to add to.

I'm giving up on Bitcoin7 because it is too unreliable.  I have been trading EUR and USD there and despite providing evidence to their support people, they think I'm making up problems.  Two big faults.

1: If you trade at a price different to highest/lowest, it will transact at that rate.  For example, if the highest bid is $10 and you put in a sell at $8, you get $8 (where the difference goes is a mystery)

2: When I trade EUR, lots of the time it converts it to USD.  This is a real pain if selling.  I've tried selling at EUR8 and then it zapped over to USD and sold at USD8 when the USD price was closer to 10, then see point #1. 

I've lost out too much on their system.  Odd thing today - I can't even withdraw BTC.

Anyone else having this grief?

[BurtW]

Turns out NO:

Dear User,
Please read carefully the following critical announcement.

On Oct 5th 2011 Bitcoin7.com became the victim of a number of pre-planned hacker attacks. While our investigation is still going, evidence reveals that the attacks originated from Russia and Eastern Europe.

The attack itself took action not only against the bitcoin7.com server but also against other websites and servers which were part of the same network. Eventually the hackers managed to breach into the network which subsequently lead to a major breach into the bitcoin7.com website.

As a result of the hacking, unknown individuals managed to gain full access to the site's main bitcoin depository/wallet and 2 of the 3 backup wallets.

In addition the hackers gained access to our user database.

Even though our faith in the bitcoin project and community remains as strong as it ever was, it is our responsibility to admit that the scale of the damage is far beyond our financial and physical capabilities.

This is why we have decided to cease the operation of bitcoin7.com and instead of investing in new technology and personnel that could possibly help us overcome this unfortunate situation, we decided that we'd rather gather all possible finances through all possible means and initiate a crisis plan for reimbursing the lost balances of our users.

This is also an open invitation to all interested investors which have interest in taking over the site at the only cost of recovering the stolen bitcoins.

The crisis plan will take action over the next 90 days. On behalf of the management of bitcoin7.com we want to apologize for this extremely stressful situation.

More specific updates will follow within the next 24 hours with detailed instructions about how to withdraw your funds.

[mjcmurfy]

And yet another exchange goes the way of the dodo, in a highly dubious manner.

I saw this coming a month ago, after I tried lodging €600 to bitcoin7's european bank account. The funds never appeared in my account, and after two weeks of waiting, and exchanging several emails with their "support" staff, they could not determine where my funds went and were unable to help me. Extremely unprofessional.

A few days later, I received a payment of €600 back to my bank account. I have no idea how, why, or where it originated from. Perhaps they made some mistake, dismissed my complaints, then realized what happened and sent the money back without contacting me. I don't know.

That was my first, and thankfully last, interaction with bitcoin7.

[BurtW]

Everyone,

Please read this thread starting here https://bitcointalk.org/index.php?topic=46982.msg561346#msg561346

BEFORE you submit all the personal information Bitcoin7 is requesting in order to "verify your account"

This may be an identity theft attempt.