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Every time a block is mined, a certain amount of BTC (called the
subsidy) is created out of thin air and given to the miner. The
subsidy halves every four years and will reach 0 in about 130 years.
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shrodix
Newbie
 Offline
Activity: 32
Merit: 0
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September 03, 2017, 12:06:15 PM |
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US citizens should withdraw now.
I'm from France . I have only 1300e in btce so I will wait till 15th September.
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th3joker
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September 03, 2017, 01:39:55 PM |
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Anyone who withdrew gotten their funds as yet?
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Electrolytez
Newbie
Offline
Activity: 26
Merit: 0
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September 03, 2017, 02:22:14 PM |
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So are US citizens not welcomed to the new exchange? I cannot find any new info whether or not we are accepted and the old post from BTC-e on the Russian sub forum on bitcointalk saying "no longer serving usa" post has been deleted. I've also checked the FAQ on there website and there is no mention about banning US Citizen either.
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Martisor-Sobru
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September 03, 2017, 02:42:20 PM |
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Anyone who withdrew gotten their funds as yet?
Very good question. And I'm curious ... oh, not that I do not trust. I just want to know how long the blood bath will hold on the markets (as this is one of the reasons why the whales have dropped the price at the BTC) |
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krizniq
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September 03, 2017, 02:52:50 PM |
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u guys know how long is 72hours ... right?
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Looking for investment tip? XBY OMG and ADX, thank me later  If you love me -> BTC: 1JLwEteSwyV3uUXN9dVvSqBnt3nbTHeS6i | ETH 0xb3F6aCa84d2513A444FABcd4dbFb256a82FdE610 Thanks!  |
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th3joker
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September 03, 2017, 04:15:44 PM |
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u guys know how long is 72hours ... right?
Yeah but is it in 72 hours or within 72 hours? So it could be anytime in the next 3 days or all processed after 3 days. |
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1Referee
Legendary
Offline
Activity: 2170
Merit: 1427
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September 03, 2017, 09:28:08 PM |
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You will be able to do SOME THINGS without verification, the question is exactly what...
It's likely just trading that will not require any sort of verification - which is exactly what they stated in very simple terms in their FAQ. I am quite sure that there will be a certain form of verification required in order to have the ability to request a withdrawal of your funds. Everything that BTC-E is saying at this point has really no value. Initially people would be given the opportunity to withdraw 55% of their funds, but nothing was mentioned about losing the latter 45% part in case you do end up withdrawing the offered 55% - this is something they at last came up with, which is ridiculous. Another ridiculous thing is that they convert fiat to the current Bitcoin market rate of $4500, and not the $2546 rate at the time they went down. This just shows that they are doing whatever they can to squeeze out as many funds out of their customers as possible. Every exchange that experienced whatever sort of loss of user funds so far, has at least offered people compensations based on the exchange rate at the day they went down. BTC-E clearly isn't following that 'tradition'. |
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erk
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September 03, 2017, 10:03:26 PM |
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Another ridiculous thing is that they convert fiat to the current Bitcoin market rate of $4500, and not the $2546 rate at the time they went down.
If BTC/USD had fallen to $1,500 and they converted it at $2,546 then what would you say? You can't have it both ways, if you do a conversion it's at the rate of today not some other day. |
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thedreamer
Legendary
Offline
Activity: 1694
Merit: 1002
Go Big or Go Home.....
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September 03, 2017, 10:22:14 PM |
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Another ridiculous thing is that they convert fiat to the current Bitcoin market rate of $4500, and not the $2546 rate at the time they went down.
If BTC/USD had fallen to $1,500 and they converted it at $2,546 then what would you say? You can't have it both ways, if you do a conversion it's at the rate of today not some other day. Then they would have converted it at the lower value, don't kid yourself. |
Go Big or Go Home.
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economist
Newbie
Offline
Activity: 22
Merit: 0
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September 03, 2017, 10:53:46 PM |
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You get today rate, it is only fair.
You get today rate, you exchange it back to USD today and you have same amount of USD(minus the 45% if you withdraw early) you had then. Where exactly is the problem with that?
What logic would it be to exchange on old rate, and where do you think they would take all those coins to pay you on their own loss?
First you wanted to recover at least some % of funds, then you wanted to recover 100% and now you want to get out in a profit? LOL. Just LOL.
BTC-e are honest folks, it is hard situation to be in and they are doing very good so far. You guys obviously forgot mtgox, cryptsy, mintpal, libertyreserve where nobody got a dime?
Stop crying already. It could have been much much worse.
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thedreamer
Legendary
Offline
Activity: 1694
Merit: 1002
Go Big or Go Home.....
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September 03, 2017, 11:48:10 PM |
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You get today rate, it is only fair.
You get today rate, you exchange it back to USD today and you have same amount of USD(minus the 45% if you withdraw early) you had then. Where exactly is the problem with that?
What logic would it be to exchange on old rate, and where do you think they would take all those coins to pay you on their own loss?
First you wanted to recover at least some % of funds, then you wanted to recover 100% and now you want to get out in a profit? LOL. Just LOL.
BTC-e are honest folks, it is hard situation to be in and they are doing very good so far. You guys obviously forgot mtgox, cryptsy, mintpal, libertyreserve where nobody got a dime?
Stop crying already. It could have been much much worse.
As far as I know NOBODY has still gotten a dime, so your above post is without any legs to stand on. AFTER people get their funds, then you can call them 'honest'. Which I still think is BS as this whole thing is a huge exit scam IMO. Just to re-visit.. The USA, did NOT GET ANY FUNDS! Let that sink in. |
Go Big or Go Home.
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economist
Newbie
Offline
Activity: 22
Merit: 0
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September 04, 2017, 12:02:39 AM |
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You get today rate, it is only fair.
You get today rate, you exchange it back to USD today and you have same amount of USD(minus the 45% if you withdraw early) you had then. Where exactly is the problem with that?
What logic would it be to exchange on old rate, and where do you think they would take all those coins to pay you on their own loss?
First you wanted to recover at least some % of funds, then you wanted to recover 100% and now you want to get out in a profit? LOL. Just LOL.
BTC-e are honest folks, it is hard situation to be in and they are doing very good so far. You guys obviously forgot mtgox, cryptsy, mintpal, libertyreserve where nobody got a dime?
Stop crying already. It could have been much much worse.
As far as I know NOBODY has still gotten a dime, so your above post is without any legs to stand on. AFTER people get their funds, then you can call them 'honest'. Which I still think is BS as this whole thing is a huge exit scam IMO. Just to re-visit.. The USA, did NOT GET ANY FUNDS! Let that sink in. Mayzus blocked FIAT, therefore they do not have it anymore. FIAT is gone because of USA, it does not matter if it;s directly in FBI hands or Mayzus kept them. BTC-E does NOT have it. Yes, they just started refunds today. I respect your IMO, but I cannot not to notice we would not hear from them from day 1 if this was exit scam. They would not waste their time on this anymore. |
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thedreamer
Legendary
Offline
Activity: 1694
Merit: 1002
Go Big or Go Home.....
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September 04, 2017, 12:08:18 AM |
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Look. If people actually get their funds and after the 15th the new exchange works as promised, I'll happily post an APOLOGY in this thread and take it all back.
I HOPE this will be the case as BTC-E was in the past the most reliable, fastest and best exchange to trade on.
This whole process just smells sour for me. Almost like a ponzy scheme where the first set of people's loss (45% write-off on people who took the refund) covers the claimed tokens in the future. Which could be worth a lot, or nothing, or finance the whole system. Still odd.
I have checked with my source in the DoJ and they did not get any funds. USD or CRYPTO. They seized servers and data off the servers. As far as it can be traced before this happened, the panic button was hit at BTC-E and all the wallets hit their external backup wallets after which they were washed to other smaller wallets and accounts.
I'm eagerly hoping everyone gets their money back.
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Go Big or Go Home.
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exstasie
Legendary
Offline
Activity: 1806
Merit: 1521
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September 04, 2017, 03:45:39 AM |
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This whole process just smells sour for me. Almost like a ponzy scheme where the first set of people's loss (45% write-off on people who took the refund) covers the claimed tokens in the future. Which could be worth a lot, or nothing, or finance the whole system. Still odd. I think of it as a tax for withdrawing all at once without verification. There are two major forces at play here. Firstly, there was a significant customer base of exchangers that did not touch cryptocurrencies. There was a large economy based around BTC-E codes, and this was primarily for fiat value transfer without KYC. Many people involved in this business, as well as less savory businesses, have no interest in verifying, and want access to funds primarily for their fiat value. Due to the rise in price, BTC-E can erase much of the debt by leveraging the threat of verification. Secondly, they are trying to ensure liquidity for their markets. They are rightfully expecting an exodus. They are therefore taxing those who want to leave immediately, and retaining the customers that are less likely to cause a bank run upon relaunch. I don't think it's the most honorable way to carry out the refund/relaunch, but I understand why they are doing it this way. |
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bonker
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September 04, 2017, 03:59:36 AM |
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The USA, did NOT GET ANY FUNDS! Let that sink in.
The USA are the ones that took the money in the first place, from a bunch of honest traders living outside of the USA trading on an exchange outside of the USA. |
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thedreamer
Legendary
Offline
Activity: 1694
Merit: 1002
Go Big or Go Home.....
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September 04, 2017, 04:44:16 AM |
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The USA, did NOT GET ANY FUNDS! Let that sink in.
The USA are the ones that took the money in the first place, from a bunch of honest traders living outside of the USA trading on an exchange outside of the USA. You seem to miss the part about the USA not getting ANY FUNDS.... |
Go Big or Go Home.
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romani245
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September 04, 2017, 05:14:31 AM |
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The USA, did NOT GET ANY FUNDS! Let that sink in.
The USA are the ones that took the money in the first place, from a bunch of honest traders living outside of the USA trading on an exchange outside of the USA. You seem to miss the part about the USA not getting ANY FUNDS.... That doesn't matter. I think it was understood by most people that saw how BTC-e operated that their money was kept in places out of reach of seizure (like Mongolia). But you can't run a licensed British financial services company and openly flout US law enforcement. Whether or not that money is recoverable is an open question. But Mayzus would be committing suicide by doing nothing and allowing BTC-e to move all their fiat money freely. |
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bonker
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September 04, 2017, 05:18:29 AM |
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The USA, did NOT GET ANY FUNDS! Let that sink in.
The USA are the ones that took the money in the first place, from a bunch of honest traders living outside of the USA trading on an exchange outside of the USA. You seem to miss the part about the USA not getting ANY FUNDS.... TYPING IN CAPS DOESN'T HELP CLARIFY AN STATEMENT |
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hua_hui
Legendary
Offline
Activity: 1386
Merit: 1016
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September 04, 2017, 05:49:55 AM |
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There is a few things i am still unclear about. It mentioned that 'On the day the site is launched, the balance will be recalculated at the market rate and will be credited to accounts with a higher ratio than 55/45. '
So what does it really mean by the higher ratio?? Aint we suppose to get back all our btc, ltc and alt coin in full? Or are we just taking back 80% of our real holdings? Or the new exchange dont have some of the alt coins so they are converted at a certain % to btc?? Hope to get answer on this.
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