YesLOST
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August 04, 2017, 12:12:12 PM |
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Old news. If you do not care to follow this thread, either you didn't lose enough or didn't lose anything.
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omarabid
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August 04, 2017, 01:32:07 PM |
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This doesn't make any sense. If they were using btce for their liquidity and to execute orders, didn't they just lose all their btc/usd?
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newhyips
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August 04, 2017, 01:48:13 PM |
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If btc-e get to refund any coin it would be a victory from the anarchic world of crypto against the old government/fiat/authoritarian world
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Lukey_P
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August 04, 2017, 02:10:00 PM |
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How do you guys think the balances could be transferred to a new platform and authenticate?
Can the usernames and passwords (I assume hashed) and the 2FA settings migrated?
Cant imagine that would be easy!
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TheKoziTwo
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Activity: 1552
Merit: 1047
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August 04, 2017, 02:54:43 PM |
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How do you guys think the balances could be transferred to a new platform and authenticate?
Can the usernames and passwords (I assume hashed) and the 2FA settings migrated?
Cant imagine that would be easy!
They have the database, it's just a matter of setting up the db and site on another server. Not that hard. |
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newhyips
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August 04, 2017, 03:33:42 PM |
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If they have the database, they have all and fbi has nothing but some fiat (and maybe some hot wallet crypto)
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xtimus
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August 04, 2017, 03:41:25 PM |
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They probably have "extra" cryptocurrency from the people that got arrested or not active anymore. Maybe vinnik (or someone similar) somehow kept lots of crypto on btc-e.
I am not sure if this will help with their money problem. Just consider not 100% of people will be active in getting refund.
I am sure btc-e has lots just from running the exchange. If they continue running exchange, they can pay back users through a time period.
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Thangz
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August 04, 2017, 04:07:44 PM |
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simply amazing how many people continue to post and yet have no clue what they are talking about........
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erikalui
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August 04, 2017, 04:25:17 PM |
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Damn! There were rumors earlier this year and couldn't ever imagine that one more exchange website is gone but not hacked in this case. It's getting scarier now to hold any coins on these exchanges as we don't even own the private keys of our wallets that we can withdraw them if any issue takes place. Similar thing happened with Liberty Reserve too and I lost my funds. They issues a statement saying they still have access to the databases but when the owner is going to get arrested, no point of expecting the money back.
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NootropicPlace
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August 04, 2017, 04:30:52 PM
Last edit: August 04, 2017, 04:42:35 PM by NootropicPlace |
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How do you guys think the balances could be transferred to a new platform and authenticate?
Can the usernames and passwords (I assume hashed) and the 2FA settings migrated?
Cant imagine that would be easy!
I run a marketplace for Nootropics and we have a Bitcoin system where all users have a Bitcoin wallet. We recently had to switch servers. The process for us was incredibly straightforward, just had to copy site files and database to new server, then everything was restored and users could withdraw from their wallets. The only thing in this process that was a problem is the time it takes to transfer site files to new server. It took nearly two days for us. Our site isn't small, but I can't imagine anything near that of BTC-E site's size. Just my 2 cents. Have faith, and long live BTC-E. |
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omarabid
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August 04, 2017, 04:49:05 PM |
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How do you guys think the balances could be transferred to a new platform and authenticate?
Can the usernames and passwords (I assume hashed) and the 2FA settings migrated?
Cant imagine that would be easy!
They have the database, it's just a matter of setting up the db and site on another server. Not that hard. yea pretty simple task. i could start my own exchange in a weekend. |
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lapcevics
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August 04, 2017, 05:36:47 PM |
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simply amazing how many people continue to post and yet have no clue what they are talking about........
Yes, totally agree on that  |
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illyiller
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August 04, 2017, 06:18:41 PM |
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If BTC-e tries to refund customers it will be using crypto after socializing losses.
I'm not sure that socializing the losses is a smart move. Innocent users will compensate the balances of "drug dealers and other illicit users" that originate the problem itself. You will use part of your money, to compensate illicit traders that cost you the money you lost. That's pretty harsh. What do you mean by "illicit traders?" It was an exchange, a place to hedge the value of your coins or cash out some profits from investing or mining. There's nothing "illicit" about that. The fact is that most users of BTC-e are innocent, and deserve equal treatment in any recovery. |
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squatter
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STOP SNITCHIN'
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August 04, 2017, 06:28:08 PM |
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This doesn't make any sense. If they were using btce for their liquidity and to execute orders, didn't they just lose all their btc/usd?
Definitely (at least pending any refund from BTC-e). I imagine the same goes for many legitimate brokers like FXOpen, AvaTrade, Plus500 and others who were using the exchange for liquidity. The ties between BTC-e and xBTCe go deeper, though, and this is more about distancing themselves... |
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bj9k
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August 04, 2017, 07:37:20 PM |
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This doesn't make any sense. If they were using btce for their liquidity and to execute orders, didn't they just lose all their btc/usd?
Definitely (at least pending any refund from BTC-e). I imagine the same goes for many legitimate brokers like FXOpen, AvaTrade, Plus500 and others who were using the exchange for liquidity. The ties between BTC-e and xBTCe go deeper, though, and this is more about distancing themselves... Not necessarily. Maybe they owned to BTC-e. It all depends on total trading gains, losses, deposits, positions, margins......... And since all those brokers are high profile with over 100b$ in monthly trades don't be surprised if they had an agreement with BTC-e that included bank escrow account for situation that actually had happen. |
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erk
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August 04, 2017, 08:20:50 PM
Last edit: August 04, 2017, 09:16:50 PM by erk |
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I think that's the high score so far. My loss is only $1.3k, $430k would be life destroying. Hands up who doesn't think it's right that the US FBI interferes with legitimate foreign crypto traders. I think the FBI were completely out of line seizing the btc-e.com domain, making it hard for traders to get updates on what it going on. It's a classic example of the laziness of the bureau, taking down the entire exchange instead of chasing down the people that have allegedly committed crimes against the US. It is not illegal to run a crypto exchange or trade on one. |
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mayax
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August 04, 2017, 11:04:30 PM |
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I think that's the high score so far. My loss is only $1.3k, $430k would be life destroying. Hands up who doesn't think it's right that the US FBI interferes with legitimate foreign crypto traders. I think the FBI were completely out of line seizing the btc-e.com domain, making it hard for traders to get updates on what it going on. It's a classic example of the laziness of the bureau, taking down the entire exchange instead of chasing down the people that have allegedly committed crimes against the US. It is not illegal to run a crypto exchange or trade on one. yes, it is illegal to run an exchanger without a financial license. is Coinbase, ITbit, Bitstamp, Gemini and many, many other licensed forex companies stupids? they paid millions to become complaint with all the financial laws. why did they do it? just for fun? the unlicensed exchangers are a plague and they must be removed. |
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jojo69
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diamond-handed zealot
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August 04, 2017, 11:12:40 PM |
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the unlicensed exchangers are a plague and they must be removed.
found the statist suckup |
This is not some pseudoeconomic post-modern Libertarian cult, it's an un-led, crowd-sourced mega startup organized around mutual self-interest where problems, whether of the theoretical or purely practical variety, are treated as temporary and, ultimately, solvable.
Censorship of e-gold was easy. Censorship of Bitcoin will be… entertaining.
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stingray454
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August 04, 2017, 11:58:06 PM |
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It's a classic example of the laziness of the bureau, taking down the entire exchange instead of chasing down the people that have allegedly committed crimes against the US. It is not illegal to run a crypto exchange or trade on one.
It's not laziness, it's tactic. The feds has gone from a few million to several hundred million in extra funding by using the civil forfiture laws. By immediately seizing anything connected to anything remotely suspected of crimes (which they can to since that law was passed), they get many many millions more of funding in a legal way by taking it from whoever happens to be caught in the crossfire. It's really hard to fight this as well, from what I have read. It's the way they work nowdays - instead of putting in the man hours needed to sort out the bad guys from the good, they label the entire exchange as a criminal cesspool and take everything they can get. Extremely provocative behaviour  |
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