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Author Topic: www.BITSTAMP.net Bitcoin exchange site for USD/BTC  (Read 205914 times)
Kumpel
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February 28, 2014, 03:57:07 PM
 #1281

For weeks I have been doing 5 digit USD withdrawals every single day at Bitstamp, no problems!!!

I did have to follow up on 2 extra KYC / AML questionnaires which took just 24 hours to be processed, other than that no problems.

Just follow up on KYC / AML questions and all is fine.

Did that. No response, withdrawal still "in process". A few days later I sent a follow up. Again, no response, nothing processed. To me, it looks fishy. Changing the way they conduct business without notice, fishy. Not transferring my money, fishy. So far they had no issue to take a four digit sum in fees, but now there seems an issue to hand over my money.
If I take what you say for face value, again, it is not entirely dissimilar to MtGox. It seems the tiny amounts and the really large amounts were handled properly for longest. The tiny ones to keep the masses happy, the large ones, not to mess with the wrong people. The ones in the middle (with the probably largest accumulated volume) were put on halt first.
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bitcoinmarketmaker
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February 28, 2014, 04:53:38 PM
 #1282

For weeks I have been doing 5 digit USD withdrawals every single day at Bitstamp, no problems!!!

I did have to follow up on 2 extra KYC / AML questionnaires which took just 24 hours to be processed, other than that no problems.

Just follow up on KYC / AML questions and all is fine.

Did that. No response, withdrawal still "in process". A few days later I sent a follow up. Again, no response, nothing processed. To me, it looks fishy. Changing the way they conduct business without notice, fishy. Not transferring my money, fishy. So far they had no issue to take a four digit sum in fees, but now there seems an issue to hand over my money.
If I take what you say for face value, again, it is not entirely dissimilar to MtGox. It seems the tiny amounts and the really large amounts were handled properly for longest. The tiny ones to keep the masses happy, the large ones, not to mess with the wrong people. The ones in the middle (with the probably largest accumulated volume) were put on halt first.

Please keep us updated about your case (positive and/or negative), I like to follow these things closely, because just like with Mt.Gox I am leaving as soon as settlement is T+6 or more

MusX
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March 02, 2014, 11:35:36 PM
 #1283

hey bitstamp, maybe you will give us back the since/offset parameter for transactions API?!?

barwizi
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March 03, 2014, 10:41:52 AM
 #1284

how long is account verification taking?

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davs
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March 03, 2014, 01:31:03 PM
 #1285

Bitstamp, can you respond to these allegations by your competitor that you aren't complying with regulations and could lose all funds? We take such claims very seriously - PLEASE address this and don't be silent like Gox was!

http://www.reddit.com/r/Bitcoin/comments/1zf3di/bitstamp_and_kraken_can_you_respond_to_these/
Kumpel
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March 03, 2014, 08:05:22 PM
 #1286

My next step will be small claims, they're UK registered so they'll hve to respond

Did you go that route yet? Will have to create a smaller withdrawal first, but it looks like the only viable option left.
Kumpel
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March 03, 2014, 08:41:33 PM
 #1287

how long is account verification taking?

Lower bound to date: >10days. Unlike the initial verification, this KYC-program seems a lot more arbitrary.
oda.krell
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March 03, 2014, 08:47:31 PM
 #1288

how long is account verification taking?

Ignore the other response, by Kumpel... So much bullshit and FUD in here.

Account *verification* once all documents are submitted takes less than a week usually.

And about the additional AML/KYC questions: it seems you get a set of additional questions when you make large withdrawals or deposits. A number of users already said that, once you answer them, transfers go out quick (within a few days at most). If, on the other hand, you signed up on the exchange with a fake name, well... then it might take a bit longer :D

Not sure which Bitcoin wallet to use? I can highly recommend Electrum.
Electrum is an open-source lightweight client: user friendly, extremely fast, and one of the safest ways to store and use your bitcoins.
Executables are available on the Electrum homepage, so you can get a Bitcoin wallet up and running on your own computer in a few minutes.
barwizi
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March 03, 2014, 09:10:11 PM
 #1289

how long is account verification taking?

Ignore the other response, by Kumpel... So much bullshit and FUD in here.

Account *verification* once all documents are submitted takes less than a week usually.

And about the additional AML/KYC questions: it seems you get a set of additional questions when you make large withdrawals or deposits. A number of users already said that, once you answer them, transfers go out quick (within a few days at most). If, on the other hand, you signed up on the exchange with a fake name, well... then it might take a bit longer Cheesy

Thanks

The withdrawal delays do raise questions, i hope it all works out coz i'm looking to find a new home for my trading. Recent events have me moving away from other exchanges that are showing the same symptoms as gox had.

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OPINION does not constitute FACT
Kumpel
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March 03, 2014, 09:25:47 PM
 #1290

how long is account verification taking?

Ignore the other response, by Kumpel... So much bullshit and FUD in here.

Account *verification* once all documents are submitted takes less than a week usually.

And about the additional AML/KYC questions: it seems you get a set of additional questions when you make large withdrawals or deposits. A number of users already said that, once you answer them, transfers go out quick (within a few days at most). If, on the other hand, you signed up on the exchange with a fake name, well... then it might take a bit longer Cheesy

Excuse me, why should my response be ignored? I signed up and got verified (photo ID, bank acc in my name) with my real name. I am waiting now more, not less, than a week for some obscure in-transparent KYC crap. To me it looks like bitstamp doesn't want to pay, nothing else. This stands until I see my money in my account. 
oda.krell
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March 03, 2014, 09:54:07 PM
 #1291

how long is account verification taking?

Ignore the other response, by Kumpel... So much bullshit and FUD in here.

Account *verification* once all documents are submitted takes less than a week usually.

And about the additional AML/KYC questions: it seems you get a set of additional questions when you make large withdrawals or deposits. A number of users already said that, once you answer them, transfers go out quick (within a few days at most). If, on the other hand, you signed up on the exchange with a fake name, well... then it might take a bit longer Cheesy

Excuse me, why should my response be ignored? I signed up and got verified (photo ID, bank acc in my name) with my real name. I am waiting now more, not less, than a week for some obscure in-transparent KYC crap. To me it looks like bitstamp doesn't want to pay, nothing else. This stands until I see my money in my account.  

Well, I admit I didn't take your case entirely serious because so far I can't even tell if (and how) you submitted answers to the additional KYC questions. On the previous page I got the impression you were making a point about how annoyed you are by those questions, considering that you already submitted your passport etc., so I'm not sure if you say you answered them.

So I'll try to be fair: You have a verified account, you wanted to withdraw some money, you got the additional questionnaire, you answered that questionnaire, and you're still not getting any response. Is that correct?

Not sure which Bitcoin wallet to use? I can highly recommend Electrum.
Electrum is an open-source lightweight client: user friendly, extremely fast, and one of the safest ways to store and use your bitcoins.
Executables are available on the Electrum homepage, so you can get a Bitcoin wallet up and running on your own computer in a few minutes.
barwizi
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March 03, 2014, 10:05:59 PM
 #1292

incessant delays are what i am looking to avoid. the industry and price move around a lot and having funds stuck in limbo is not at all beneficial. Also there is mention that these KYC questions are also asked when you transact purely in bitcoin, is this true?

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OPINION does not constitute FACT
Kumpel
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March 03, 2014, 10:18:17 PM
 #1293

Well, I admit I didn't take your case entirely serious because so far I can't even tell if (and how) you submitted answers to the additional KYC questions. On the previous page I got the impression you were making a point about how annoyed you are by those questions, considering that you already submitted your passport etc., so I'm not sure if you say you answered them.

So I'll try to be fair: You have a verified account, you wanted to withdraw some money, you got the additional questionnaire, you answered that questionnaire, and you're still not getting any response. Is that correct?

Indeed, I found the KYC-program annoying. You are also correct with your further assumptions, I hold a long verified bitstamp account and answered the six KYC questions when they were sent to me through their ticket system. So currently I have to assume that in some cases they release money, in others not. Unfortunately, the only case I can verify is mine and my withdrawal is still unprocessed. For you the situation seems to look very different.

Quote
incessant delays are what i am looking to avoid. the industry and price move around a lot and having funds stuck in limbo is not at all beneficial. Also there is mention that these KYC questions are also asked when you transact purely in bitcoin, is this true?

My btc transfers (in the process of removing all my btc from bitstamp) went all through, without any delay. The value was comparable to the USD transfer in question.
Rub3n
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March 03, 2014, 11:50:38 PM
 #1294

Waiting for verification Smiley The dutch exchanges are taking forever, i need that sepa!

oda.krell
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March 04, 2014, 12:46:55 PM
 #1295

Well, I admit I didn't take your case entirely serious because so far I can't even tell if (and how) you submitted answers to the additional KYC questions. On the previous page I got the impression you were making a point about how annoyed you are by those questions, considering that you already submitted your passport etc., so I'm not sure if you say you answered them.

So I'll try to be fair: You have a verified account, you wanted to withdraw some money, you got the additional questionnaire, you answered that questionnaire, and you're still not getting any response. Is that correct?

Indeed, I found the KYC-program annoying. You are also correct with your further assumptions, I hold a long verified bitstamp account and answered the six KYC questions when they were sent to me through their ticket system. So currently I have to assume that in some cases they release money, in others not. Unfortunately, the only case I can verify is mine and my withdrawal is still unprocessed. For you the situation seems to look very different.

Alright, I see. If that's the case, that you submitted all the required info and your withdrawal still isn't getting through, and there's not additional details you aren't mentioning, like MissPiggy above who thought it was a clever idea to sign up with a fake name, then a) I'm sorry to hear your funds are in limbo, b) want to mention, for completeness sake, that I belong to the group of people that for whome large withdrawals went out fast so far -- I mention this, because I don't see reasons to conclude they have a cash flow problem yet, like mtgox did, and c) would also like to hear how your situation resolves, as it's never good news to hear that someone's money is stuck. Ideally, someone from Bitstamp would comment on this in here.

Not sure which Bitcoin wallet to use? I can highly recommend Electrum.
Electrum is an open-source lightweight client: user friendly, extremely fast, and one of the safest ways to store and use your bitcoins.
Executables are available on the Electrum homepage, so you can get a Bitcoin wallet up and running on your own computer in a few minutes.
Kumpel
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March 04, 2014, 03:48:22 PM
 #1296

Ideally, someone from Bitstamp would comment on this in here.
That is something I would indeed welcome as well.

barwizi
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March 04, 2014, 04:15:34 PM
 #1297

Ideally, someone from Bitstamp would comment on this in here.
That is something I would indeed welcome as well.



+1

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OPINION does not constitute FACT
dreamspark
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March 04, 2014, 07:49:55 PM
 #1298

Can anyone explain that trade that came out of the api at $633  over 3000btc below the bids?
solex
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March 04, 2014, 08:00:22 PM
 #1299

Can anyone explain that trade that came out of the api at $633  over 300btc below the bids?

3,000 below the bids! Yes, explanation needed as the integrity of the trading engine is very important.

oda.krell
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March 04, 2014, 08:51:44 PM
 #1300


I wrote about this trade engine glitch on their twitter page, and submitted a post on r/bitcoin. I encourage every Bitstamp customer to insist they answer this question: why did their trading engine glitch, and how do they plan to make sure it doesn't happen again?

Not sure which Bitcoin wallet to use? I can highly recommend Electrum.
Electrum is an open-source lightweight client: user friendly, extremely fast, and one of the safest ways to store and use your bitcoins.
Executables are available on the Electrum homepage, so you can get a Bitcoin wallet up and running on your own computer in a few minutes.
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