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Author Topic: Official CaVirtex.com Thread  (Read 103310 times)
_mr_e
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November 14, 2013, 05:53:48 PM
 #161

Guys, the share price is tanking. I think you really need to release SOMETHING to your investors. People are having no idea how to valuate this company, what you're making, how much you're holding in btc, how much you're spending etc and I am feeling some very negative vibes towards virtex surfacing all around the internet. Why must everything be so tight lipped? I've been a holder since IPO and so far that has gotten me nowhere other than a ton of lost btc. We desperately need something, I really don't think it's fair how all these people that gave you a ton of money to grow your business are being treated and new investors are being scared away from this company. You started off good with your prospectus and your shareholder email but all we've heard lately is silence and the removal of payment methods. The liquidity is so horrible it's pretty much impossible for anyone with a substantial position to sell anything. I know I've met you guys and you all seem to be working very hard but when it comes to running a company publicly you really need more transparency and it appears you've dropped the ball, if you are not willing to do this then maybe you should have not sold shares publicly to begin with. I really think that somebody needs to answer to this problem publicly because it is starting to get out of hand.

I also feel that virtex desperately needs a website overhaul. With competitors like vault of satoshi coming out of the woodwork with their clean, appealing user interfaces virtex is beginning to feel very dated. When I point new people to the website they appear very confused about where they are supposed to go and what they're supposed to do.

We need to start a more open dialogue with shareholders. Perhaps open up another forum discussion for ideas and discussions around Virtex's operations. This is the territory that comes with having a publicly held company and I feel it is time you guys step up to the plate.

_mr_e,

I have spoken to you on the phone and met you in person. I understand you are concerned, but rest assured, Virtex is doing extremely well. In fact, we have a substantial blacklog of people who want to get verified and begin trading. Yes, the verification process is not quick and easy, but this is the reality of operating a Bitcoin exchange in Canada. We need to be diligent in order to maintain our relationships with banks and processors, not to mention keep traders protected from fraud.

The enormous demand to become verified is a testament to the level of trust people have in what is the largest and oldest Bitcoin exchange in Canada.

In terms of communications, we could dedicate time and money and hire staff to constantly communicate with people on posting forums, but would this really be good use of capital when we have people waiting to get verified, when we have our development team working on a shorting platform and bringing Litecoin trading to the exchange, when we have sales force working to bring in new merchants and build out our merchant API shopping cart, when we are trying to forge mutually beneficial relationships with new Bitcoin startups, when we are trying hard to open up new deposit methods, when we are trying to beef up our exchange software and eliminate bugs so that we minimize down time, etc., etc.?

Based on our current resources, we try our best to communicate through social media outlets like Twitter and Facebook. We will also engage in posting forum discussions and respond to comments and questions where warranted. That said, we will not get lured into shouting matches.

As for the look of the website, that is a matter of opinion. Granted, it might not feature a lot of the design elements that are currently in vogue, however, there are many who like it. There are plenty of other sites that don't follow the latest design trends (craigslist, reddit, kijiji, ebay, etc.), yet they're not hurting for users either.

On the flipside, I can guarantee you, if we were to "overhaul" the site as you suggest, posting forums would light up with complaints and criticisms. I've been down this road many times.

All that said, we certainly have discussed giving the site a minor face lift, however, it's simply a lower priority at the moment. There are simply so many other things that we're working on that will have a direct impact on growing revenue.

As a shareholder, I can assure you that everyone is "stepping up to the plate" and working flat-out to build Virtex. Like you, we too have a vested interest in the company and we are all in this for the long haul.

I realize that in the Internet age we're used to things happening in hyper speed, but keep in mind Virtex is less than three years old. We are still in the early stages of growth. With that in mind, as an investor, you might want to try taking a longer view.

I believe you have my phone number. You are welcome to give me call if you would really like to discuss things further.


Thank you for taking the time to write this, I am certainly not meaning to start anything but I believe that even a simple post like this is the type of information that all current shareholders need and deserve to hear on a semi frequent basis.
bitcoin carpenter
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November 14, 2013, 08:24:56 PM
 #162

All that said

Please let us know if you are going to give out a year end report.

If your not actively using the technology behind your crypto investment,

IT IS A SCAM!!!!
freedomno1
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November 15, 2013, 10:01:51 PM
 #163

I see there are some changes to the system
What is Lv 1 requirements
What is Lv 2 requirements
And what is Phone Verification (Well more detailed just phone and set it up)
https://www.cavirtex.com/deposit_methods

https://www.cavirtex.com/faq#verification

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l.j2300
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November 17, 2013, 07:06:45 AM
 #164

Is the deposit and withdrawal problem fixed (for btc). I read on facebook that you guys were having problems?
bakada
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November 17, 2013, 07:43:53 AM
Last edit: March 10, 2014, 06:58:57 PM by bakada
 #165

..
_mr_e
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November 17, 2013, 09:47:17 PM
 #166

Could somebody please fix these text box margins? It's very minor but has been like this for a long time and stares at me every time I order.

I'm using Chrome:

nubbins
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November 18, 2013, 12:07:39 AM
 #167

Could somebody please fix these text box margins? It's very minor but has been like this for a long time and stares at me every time I order.

I'm using Chrome:

What version, what OS? I use Chrome and don't see 'em.

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November 18, 2013, 12:57:00 AM
 #168

You need to update your site so it is correct.   As the following statement is not true:

Why do you only accept accounts from Canadian Citizens? Do you have plans to change this?

Due to the uncertain regulatory environment we are only servicing Canadian Citizens at this time. We do have plans to expand but it is a low priority and we have no time estimates.


You only accept Resident Canadian Citizens.
Who live in Canada and have a landline.
l.j2300
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November 18, 2013, 01:20:42 AM
 #169

You do need to provide a phone number to virtex but it does not have to be a landline.
cavirtex (OP)
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November 18, 2013, 12:52:10 PM
 #170

I see there are some changes to the system
What is Lv 1 requirements
What is Lv 2 requirements
And what is Phone Verification (Well more detailed just phone and set it up)
https://www.cavirtex.com/deposit_methods

https://www.cavirtex.com/faq#verification

Verification levels are the same, we simply changed the wording:

Cash Verification became Level 1
Online Verification became Level 2

We did this primarily to remove the word "cash" since we are currently not accepting cash deposits. We are hoping this will change in the future.

CAVIRTEX is Canada's #1 Bitcoin exchange with over 90 million CAD traded in our 3 years of operations. Visit https://www.cavirtex.com.
cavirtex (OP)
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November 18, 2013, 12:58:02 PM
 #171

You need to update your site so it is correct.   As the following statement is not true:

Why do you only accept accounts from Canadian Citizens? Do you have plans to change this?

Due to the uncertain regulatory environment we are only servicing Canadian Citizens at this time. We do have plans to expand but it is a low priority and we have no time estimates.


You only accept Resident Canadian Citizens.

We only verifying Canadian citizens at the present time. Customers can open an account under a Canadian corporation, however, the administrator of the account must be verified and be Canadian.

We are consulting with our legal team as well as our banking and processing partners and are hoping to soon allow Canadian corporations owned by non-Canadians to open accounts.

CAVIRTEX is Canada's #1 Bitcoin exchange with over 90 million CAD traded in our 3 years of operations. Visit https://www.cavirtex.com.
cavirtex (OP)
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November 18, 2013, 01:02:58 PM
 #172

Is the deposit and withdrawal problem fixed (for btc). I read on facebook that you guys were having problems?

Yes, the issues were resolved shortly after that post on Facebook.

CAVIRTEX is Canada's #1 Bitcoin exchange with over 90 million CAD traded in our 3 years of operations. Visit https://www.cavirtex.com.
ColdHardMetal
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November 18, 2013, 01:04:16 PM
 #173

We only verifying Canadian citizens at the present time. Customers can open an account under a Canadian corporation, however, the administrator of the account must be verified and be Canadian.

We are consulting with our legal team as well as our banking and processing partners and are hoping to soon allow Canadian corporations owned by non-Canadians to open accounts.

What about non-resident Canadians with Canadian bank accounts?

cavirtex (OP)
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November 18, 2013, 01:06:29 PM
 #174

Could somebody please fix these text box margins? It's very minor but has been like this for a long time and stares at me every time I order.

I'm using Chrome:



I'm using Chrome and this is not appearing when browser resolution is set at 100%. It does appear if I zoom out to 90%.

Try setting the resolution to 100% (i.e. Settings > Zoom > 100%)

CAVIRTEX is Canada's #1 Bitcoin exchange with over 90 million CAD traded in our 3 years of operations. Visit https://www.cavirtex.com.
cavirtex (OP)
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November 18, 2013, 01:24:13 PM
 #175

We only verifying Canadian citizens at the present time. Customers can open an account under a Canadian corporation, however, the administrator of the account must be verified and be Canadian.

We are consulting with our legal team as well as our banking and processing partners and are hoping to soon allow Canadian corporations owned by non-Canadians to open accounts.

What about non-resident Canadians with Canadian bank accounts?

If a person has a Canadian bank account as well as government-issued photo ID with a residential address (i.e. driver's licence) and a proof of residential address document that matches the address listed on your identification, this would likely be considered acceptable by our verification department. Hence, bakada may have a point about adding the word "Resident". I will discuss this with my colleagues. Thank you.

CAVIRTEX is Canada's #1 Bitcoin exchange with over 90 million CAD traded in our 3 years of operations. Visit https://www.cavirtex.com.
_mr_e
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November 18, 2013, 02:09:12 PM
 #176

Could somebody please fix these text box margins? It's very minor but has been like this for a long time and stares at me every time I order.

I'm using Chrome:



I'm using Chrome and this is not appearing when browser resolution is set at 100%. It does appear if I zoom out to 90%.

Try setting the resolution to 100% (i.e. Settings > Zoom > 100%)

I'm on my work computer now... Home computer died last night:( But you are right, I am seeing the issue on 90% and 110%. Although even on 100% the text box edge touching the right side of the box, there is no padding which still looks kinda off. Obviously not a huge deal but just letting you know:)
Nemesis
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November 18, 2013, 05:18:56 PM
 #177

so how do you determine to charge inactivity fee?
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November 18, 2013, 05:25:02 PM
 #178

so how do you determine to charge inactivity fee?
The fee is $50/month for accounts that have been inactive for a year or more. 'Inactive' means no trades. See Article 13 here:

https://www.cavirtex.com/terms

If you have no BTC and no CAD in your account, no fee is charged.
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November 18, 2013, 06:12:56 PM
 #179

so how do you determine to charge inactivity fee?
The fee is $50/month for accounts that have been inactive for a year or more. 'Inactive' means no trades. See Article 13 here:

https://www.cavirtex.com/terms

If you have no BTC and no CAD in your account, no fee is charged.

Its still not very clear to me. The term also says they can terminate the account if its inactive for more than 6 months.

As for inactivity fee, can Cavirtex confirm that an inactive 0 balance account wont be charged with this fee when the user fund the account for trading (after several months of inactive trading)?

Edit: I just checked my inactive account (0- balance), under Transaction History there is a Inactivity Fee on in Oct 2013 (last month). But since my account balance is already 0, it didnt go through. What happen when i deposit my fund? will Cavirtex charge me for many months of inactivity? Its ridiculous if they do.
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November 18, 2013, 06:26:05 PM
 #180

Edit: I just checked my inactive account (0- balance), under Transaction History there is a Inactivity Fee on in Oct 2013 (last month). But since my account balance is already 0, it didnt go through. What happen when i deposit my fund? will Cavirtex charge me for many months of inactivity? Its ridiculous if they do.
I agree, charging arrears when a customer decides to re-fund their account would be ridiculous (the inactivity fee itself is ridiculous, but that is a discussion for another day).

I would like to hear cavirtex's official stance on this.
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