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[Dargo]

Fidor is just upgrading their API for our interface with them and there's no risk to anyone's money.  

It would be great if you could post some evidence of this in form of a document/mail whatever you received from Fidor.

Good suggestion, but I'm not sure what we could post that would really prove anything. Will consider it though.

Meanwhile I suggest that you credit customers accounts manually. That takes some time but not too long; after all kraken is still small. But to get huge you need customers faith. And to win that (or not to lose it) nothing is more important than to transfer their money on time.

As small as we may be, we nonetheless do very very many deposits and withdrawals every day. And each one would have to be entered manually and formatted properly. And we can't have just any employee do this. For security reasons, only our most trusted people have control over funding. So it's not like we can just drop everything and have the entire team process transactions manually for a while. Processing the transactions manually would, relative to the volume we get, be so slow as to be hardly noticeable. We processed USD transactions manually and that was horribly slow for a volume that was tiny compared to our EUR volume. Doing it manually is also going to be much less reliable (i.e. entering wrong amounts), and we'd run the risk of losing a lot of money if we give too much or spend a lot of time fixing incorrect transactions later. Given that the API will be up again soon, it's much better to just wait for that. 

We understand that everyone is anxious about this situation, but please bear with us, it won't be much longer.

 

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[pharrisee]

Fidor is just upgrading their API for our interface with them and there's no risk to anyone's money.  

It would be great if you could post some evidence of this in form of a document/mail whatever you received from Fidor.

Good suggestion, but I'm not sure what we could post that would really prove anything. Will consider it though.

Meanwhile I suggest that you credit customers accounts manually. That takes some time but not too long; after all kraken is still small. But to get huge you need customers faith. And to win that (or not to lose it) nothing is more important than to transfer their money on time.

As small as we may be, we nonetheless do very very many deposits and withdrawals every day. And each one would have to be entered manually and formatted properly. And we can't have just any employee do this. For security reasons, only our most trusted people have control over funding. So it's not like we can just drop everything and have the entire team process transactions manually for a while. Processing the transactions manually would, relative to the volume we get, be so slow as to be hardly noticeable. We processed USD transactions manually and that was horribly slow for a volume that was tiny compared to our EUR volume. Doing it manually is also going to be much less reliable (i.e. entering wrong amounts), and we'd run the risk of losing a lot of money if we give too much or spend a lot of time fixing incorrect transactions later. Given that the API will be up again soon, it's much better to just wait for that. 

We understand that everyone is anxious about this situation, but please bear with us, it won't be much longer.

 

What with mtgox going under people are bound to feel a certain amount of FUD.  I've had a wire transfer in for around 3 weeks now, and unless I PM you (Dargo) directly I'm getting nothing from your support people.  It might be an idea to make sure that support issues have constant updates, might help to alleviate the FUD.

[Dargo]

Whatever may be said against dogecoin, the fact is that it has gained traction very rapidly and become a very serious coin for trading. Why wouldn't a serious exchange want to offer it? We are after all in the trading business.  

Dargo,

When will somebody from your organisation talk to tradingview.com to arrange for ALL your instruments getting ploted on their charting service for free?

Bitcoinwisdom is fine, but they have only TWO of your symbols.

We are working with TradingView on this. The pairs offered will ultimately be up to them, however. We'll also need to make a place on our site to put their chart widget - anyone is welcome to make suggestions about where it should go.

[soio]

BEWARE of Kraken !

In these last 2 weeks i've monitoring all the posts about Kraken and what i was only supposing now is actually happening.

This is a summary of what i have seen:

1) 11th February kraken facebook official page posts: "Kraken halts nothing! Because planning. Carry on"

Not true! Many customers are having issues with withdrawals (e.g. @Karim79, @Elain Magson,  ) and deposits (e.g. @James Nagle, @Fabio Bossi and others)

2) 20th February Kraken Facebook official pages posts: "Ok, actually we're halting something...USD Deposits Temporarily Disabled...All pending USD withdrawals not already in transit will be canceled within 24 hours and users will have the funds available again."

Not true! Today 26 th February still many customers are having withdrawal and deposits issue.
E.g. @Karim79, 36 days delay with his USD withdrawal.

Btcx, Dargo

So now 3 days passed since your announcement, and my USD withdraw is still pending. If I try to cancel it I get "internal Error" message.
I replied to the ticket to get it converted in Euro, but no answer...

Net Result: my money blocked since 20 of Jan (33 days..) and no support answer on my ticket since 13 of Feb (10 days ago) despite my replies...

That red cancel button is misleading because you actually can't cancel withdrawals after the first minute or so after you place them (we need to change this so the button turns grey or something similar). A support agent will answer your ticket, but the update is that we'll be cancelling all the outstanding withdrawals soon (should be tomorrow) and then we'll start the euro conversion. We couldn't cancel the withdrawals immediately because we needed to go through them and double check to make sure we don't cancel any that have already been sent. We're working to get this done as soon as possible, but it's a highly manual process, so it's not fast. 

Dargo, still no progress.. it's not acceptable behaving like this. Kraken knows I am blocked since 35 days now, so if I am really an exception or unlucky user please give the right priority to this manual process!

Thanks Karim

No answer from Kraken support !

Same for @giorgios deposit

Have we become too accustomed to the high standard that Kraken provide regarding deposits and withdrawals? How long would Bitstamp/Btc-e SEPA deposit take out of interest?

Where are the high standards of Kraken??? I send money to Kraken from 4th of February and they never credited to my account. When I asked for my remittance they told me that they never receive it. My bank asked officialy Fidor and they answered that my money is in Kraken's account from 4th of February. After this move they admitted that they received the money but until now they haven't credited my account. I only hear excuses and lies. Tommorow I will publish all my conversation (with PM) with Dargo, because I want to prove you that Kraken is a new MtGox...
So be careful because all these problems with deposits and withdrawals are very strange.
If I lie I challenge Dargo to deny all these...

No answers from the support and only excuses and lies !

I prompt @karim79 , @giorgios and all of the crypto comunity to BEWARE of Kraken, and remember that at MtGox everything started like this.. delays , excuses, no support, excuses and excuses till the end we all know .. !

I repeat it. Beware of Kraken !

[pharrisee]

My USD refund actually just happened.  I've been waiting 3 weeks but Kraken came through.  I'm about to do a EUR SEPA transfer and if that goes through I see no reason to not trust Kraken, no reason at all.

[Dargo]

Update on USD withdrawal requests: all withdrawal requests that haven't already been processed (sent) have now been cancelled. Recall from the post here

https://bitcointalk.org/index.php?topic=290799.msg5255098#msg5255098

that we are offering a +2% bonus for converting your USD to EUR. After the conversion, you can trade our EUR pairs (much more liquid than USD!) or withdraw the EUR. You can still withdraw EUR to a USD-only account, but you will incur a <1% conversion fee. It would probably be wise to consult with your USD-only bank to see if they have any special instructions for a EUR deposit.

If you want the conversion option, please reply to your existing support ticket for the withdrawal and let us know. If you haven't created a ticket yet, go here

https://support.kraken.com

and click "Submit a request." Choose the category "Convert USD to EUR" for the ticket. You can elect to just convert your withdrawal amount, or your entire USD balance (please specify in the ticket). If you have already told us that you want the conversion option, nothing further is required. Please understand that the conversion to EUR will be a manual process, so it will take some time, but we will get the conversions done as soon as possible.

Your other option is to create a new withdrawal request under Account > Funding > Withdraw > USD > Wire Transfer. If you select this option, your USD will be converted to EUR and EUR will be sent to your account. Again, this will likely result in a < 1% conversion fee if your bank only supports USD, but we will send extra EUR to cover the conversion fee for USD-only banks.

Edit - sorry, but I misunderstood the second option. This option doesn't involve converting to EUR. You create the withdrawal request under Account > Funding > Withdraw > USD > Wire Transfer.  If you select this option, note that it may take up to 4 weeks or more to receive your USD wire transfer. This option will be the slowest by far, so we highly recommend the first option.

[Dargo]

My USD refund actually just happened.  I've been waiting 3 weeks but Kraken came through.  I'm about to do a EUR SEPA transfer and if that goes through I see no reason to not trust Kraken, no reason at all.

pharrisee - you can't withdraw EUR yet, because your USD hasn't been converted to EUR. This is a two-step process: 1) cancel pending USD withdrawal requests that haven't been sent. (done) 2) convert USD to EUR. (not done yet)

Then you can withdraw the EUR or use it to trade. Sorry if that wasn't clear, but I've mentioned it several times already.

[Avalaxy]

Guys, stop being so unreasonable. Dargo explained the situation perfectly clear and much more open and in detail than any other exchange so far. There's no need to keep hammering on this, just calm down a give them some time. It's a startup. They're growing fast. Nothing unusual here, these are just growing pains.

[pharrisee]

My USD refund actually just happened.  I've been waiting 3 weeks but Kraken came through.  I'm about to do a EUR SEPA transfer and if that goes through I see no reason to not trust Kraken, no reason at all.

pharrisee - you can't withdraw EUR yet, because your USD hasn't been converted to EUR. This is a two-step process: 1) cancel pending USD withdrawal requests that haven't been sent. (done) 2) convert USD to EUR. (not done yet)

Then you can withdraw the EUR or use it to trade. Sorry if that wasn't clear, but I've mentioned it several times already.

It's no problem mate, I've already converted by going from usd-btc-eur.  Since the transfer fee for eur sepa is a lot lower I've gained the 2% bonus anyway.  Thanks for your help in this, and thanks also for getting my wife off my back about it .

[Dargo]

My USD refund actually just happened.  I've been waiting 3 weeks but Kraken came through.  I'm about to do a EUR SEPA transfer and if that goes through I see no reason to not trust Kraken, no reason at all.

pharrisee - you can't withdraw EUR yet, because your USD hasn't been converted to EUR. This is a two-step process: 1) cancel pending USD withdrawal requests that haven't been sent. (done) 2) convert USD to EUR. (not done yet)

Then you can withdraw the EUR or use it to trade. Sorry if that wasn't clear, but I've mentioned it several times already.

It's no problem mate, I've already converted by going from usd-btc-eur.  Since the transfer fee for eur sepa is a lot lower I've gained the 2% bonus anyway.  Thanks for your help in this, and thanks also for getting my wife off my back about it .

That works too. 

[FierceRadish]

Guys, stop being so unreasonable. Dargo explained the situation perfectly clear and much more open and in detail than any other exchange so far. There's no need to keep hammering on this, just calm down a give them some time. It's a startup. They're growing fast. Nothing unusual here, these are just growing pains.

I'm here to trade. This is happening during the one of the best buying opportunities in recent months (and with no fiat on the exchange I have missed out on coins 40% cheaper, on current value). It's also happening while people are spooked by the incompetence and implosion of what was once the largest exchange.

Dargo is answering posts, I appreciate this.

What does 'updating their API' actually mean? Bitcoin.de also use Fidor, I believe. Are they experiencing the same issues?

[FierceRadish]

Update on the Fidor situation: The delay will be another business day at least. Hopefully transactions will resume tomorrow, but it could take longer. We realize that the timing couldn't be worse on this with Gox situation, but Fidor is just upgrading their API for our interface with them and there's no risk to anyone's money.  

Also, just to clarify...

What does this mean for deposits sent 4-6 days ago? Another two day delay from here?

Or does "transactions will resume" mean that nothing will be processed at all until the API is fixed?

[giorgos-pap]

Guys, stop being so unreasonable. Dargo explained the situation perfectly clear and much more open and in detail than any other exchange so far. There's no need to keep hammering on this, just calm down a give them some time. It's a startup. They're growing fast. Nothing unusual here, these are just growing pains.

I'm here to trade. This is happening during the one of the best buying opportunities in recent months (and with no fiat on the exchange I have missed out on coins 40% cheaper, on current value). It's also happening while people are spooked by the incompetence and implosion of what was once the largest exchange.

Dargo is answering posts, I appreciate this.

What does 'updating their API' actually mean? Bitcoin.de also use Fidor, I believe. Are they experiencing the same issues?

I agree with FierceRadish. We lost the opportunity to buy Bitcoin in 300 euros and many other trading opportunities. I have reasons to believe that Kraken keep our money to buy Bitcoins low and when they sell them in higher price they will release our money. MtGox tried to do something similar...
All I hear are excuses about the API, Fidor Bank (bitcoin.de use also this bank without problem), someone who is the only person could deposit manual our accounts etc. Can you prove me that all I say is wrong.   

[Dargo]

Guys, stop being so unreasonable. Dargo explained the situation perfectly clear and much more open and in detail than any other exchange so far. There's no need to keep hammering on this, just calm down a give them some time. It's a startup. They're growing fast. Nothing unusual here, these are just growing pains.

I'm here to trade. This is happening during the one of the best buying opportunities in recent months (and with no fiat on the exchange I have missed out on coins 40% cheaper, on current value). It's also happening while people are spooked by the incompetence and implosion of what was once the largest exchange.

Dargo is answering posts, I appreciate this.

What does 'updating their API' actually mean? Bitcoin.de also use Fidor, I believe. Are they experiencing the same issues?

I like the way you think FierceRadish. While the FUD swirls around bitcoin, you see a buying opportunity. I'm just sorry that we aren't able to let you take advantage of the opportunity.

As far as the API goes, my understanding is that Fidor was working on their banking back end on Friday afternoon. They did something that broke our API connection with them, but I don't know to what extent it broke API connection with other Fidor clients such as bitcoin.de. Fidor is updating (or maybe simply fixing is a better term) their API to fix our connection with them. We simply can't connect to Fidor until this API fix is in place, but it may be that some other clients can connect OK without the fix and haven't had the same interruption we've had.

[Solarstorm75]

My Fidor-To-Fidor deposit has arrived finally. 

[Rannasha]

My withdrawal from a few days ago went from "Pending" to "Sent".

API-crisis resolved?

[Dargo]

Update on the Fidor situation: The delay will be another business day at least. Hopefully transactions will resume tomorrow, but it could take longer. We realize that the timing couldn't be worse on this with Gox situation, but Fidor is just upgrading their API for our interface with them and there's no risk to anyone's money.  

Also, just to clarify...

What does this mean for deposits sent 4-6 days ago? Another two day delay from here?

Or does "transactions will resume" mean that nothing will be processed at all until the API is fixed?

Our connection to Fidor is down until the API is fixed. This means that incoming deposits arrive in our Fidor bank account but can't be sent to our system in order to be credited to your kraken account. And it means that withdrawals requests sit in your kraken account and can't be sent to Fidor for processing. So a deposit sent 4-6 days ago is sitting in our bank account, and as soon as the connection is back up, we can start processing deposits again and crediting them to user accounts. There will obviously be a backlog of deposits and withdrawals. We'll get them all processed as quickly as possible once the connection is back up, but it will take a while to work through the backlog. This may mean a 2-3 day delay for everyone, assuming the connection is back up tomorrow.  

[Dargo]

My Fidor-To-Fidor deposit has arrived finally. 

My withdrawal from a few days ago went from "Pending" to "Sent".

API-crisis resolved?

Sounds promising at least!

[Dargo]

I have reasons to believe that Kraken keep our money to buy Bitcoins low and when they sell them in higher price they will release our money.

Hi Giorgos - what are your reasons to believe this? Do you have any actual evidence?

All I hear are excuses about the API, Fidor Bank (bitcoin.de use also this bank without problem), someone who is the only person could deposit manual our accounts etc. Can you prove me that all I say is wrong. 

I'm sure Fidor would be happy to confirm that our API connection with them has been down for the last few days.

[giorgos-pap]

I have reasons to believe that Kraken keep our money to buy Bitcoins low and when they sell them in higher price they will release our money.

Hi Giorgos - what are your reasons to believe this? Do you have any actual evidence?

I can prove that Kraken has my money from 4th of February until now. So they can use the money to do anything they want (trading or something else). You know very well that MtGox tried to do something like that therefore there were huge delays in deposits and withdrawals.
Can you prove me Kraken is innocent? I hear only excuses and I do not see any proofs.