Current situation with slovenian banks...?

[Mikcik]

Hello

i want to ask, how the situation with slovenian banks is looking like these days... There were some possibilities of default or bail-ins...

Im asking because i would like to transfer around $1200 to Bitstamp exchange and keep it there for maybe even several months in the form of fiat $, the reason is i want to have money ready for BTC price drops (i belive there could be some). But im quite worried to leave the $ in a slovenian bank account for so long due to the state of their banks...

Hows the situation looking currently please with slovenian banks...? Is it a wise thing to leave around $ 1200 sitting in Bitstamp Slovenian bank account?

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[Bono]

If I ever had that amount of money just laying around, I'd store it in Bitcoins anyway.

You can move the BTC to any other exchange or online wallet in seconds, no matter what's going on in your country. I know you want to save the fiat in case you can get a better deal, but long-term holders never lose.

[Mikcik]

That doesnt answer my question, i wanna hold it there in fiat and wait for a nice btc price, just for "in case of a massive dip" so i can catch it.

There was a thread about the slovenian bank situation here somewhere, cant find it nonetheless.

[Bono]

That doesnt answer my question, i wanna hold it there in fiat and wait for a nice btc price, just for "in case of a massive dip" so i can catch it.

There was a thread about the slovenian bank situation here somewhere, cant find it nonetheless.

Right... so you use a Slovenian bank but will trust a bunch of greedy anonymous fucks to give you advice on how to deal with it.

I'll see you at the soup kitchen. I'll be volunteering, of course.

[empoweoqwj]

That doesnt answer my question, i wanna hold it there in fiat and wait for a nice btc price, just for "in case of a massive dip" so i can catch it.

There was a thread about the slovenian bank situation here somewhere, cant find it nonetheless.

You sure Bitstamp use a Slovenian bank?

[Tzupy]

Bitstamp's bank is Unicredit banka Slovenija in Ljubljana, a subsidiary of Unicredit Bank Austria.

[empoweoqwj]

Bitstamp's bank is Unicredit banka Slovenija in Ljubljana, a subsidiary of Unicredit Bank Austria.

So is that an Austrian bank or Slovenian bank?

[Tzupy]

Bitstamp's bank is Unicredit banka Slovenija in Ljubljana, a subsidiary of Unicredit Bank Austria.

So is that an Austrian bank or Slovenian bank?

It's a Slovenian bank, but the risk of it getting into trouble is lower because it's an Austrian bank subsidiary.
I don't know specifics, but not all banks in Slovenia are in trouble.

[empoweoqwj]

But any reason to believe this particular bank is in trouble?

[Mikcik]

Doesnt anybody have a link to older thread on which this was adressed?

[Bono]

Doesnt anybody have a link to older thread on which this was adressed?

Google has limited Regex capabilities.

https://www.google.com/search?num=30&site=&source=hp&q=bitcointalk+%22slovenian+banks%22&oq=bitcointalk+%22slovenian+banks%22&gs_l=hp.3...432.432.0.931.1.1.0.0.0.0.106.106.0j1.1.0....0...1c..32.hp..1.0.0.HNViIT0Wbvc

If you can't find it myah, you won't find it.

[thaaanos]

But any reason to believe this particular bank is in trouble?

it is in eurosystem isnt it?

[Mikcik]

But any reason to believe this particular bank is in trouble?

it is in eurosystem isnt it?

If you mean in eurozone (countries paying with euro) then yes.

[thaaanos]

But any reason to believe this particular bank is in trouble?

it is in eurosystem isnt it?

If you mean in eurozone (countries paying with euro) then yes.

That's what how the call it.
Then you are allegedly safe up to 100K per account... for now...
EDIT:This may apply only for Euros though, not sure about foreign currency

[skivrmt]

But any reason to believe this particular bank is in trouble?

it is in eurosystem isnt it?

If you mean in eurozone (countries paying with euro) then yes.

That's what how the call it.
Then you are allegedly safe up to 100K per account... for now...
EDIT:This may apply only for Euros though, not sure about foreign currency

But the real question should be is your account at Bitstamp, even when is fiat, whetehr USD or Euro, considered a "bank account" and under the same protections as someone with say a checking account at that same Slovenia Bank?  I don't know the exact answer but my guess would be no.  You do not technically have a bank account at the Slovenian Bank.  Bitstamp does.  Bitstamp holds money in your name under their account, most likely commingled with other peoples funds.

[thaaanos]

But any reason to believe this particular bank is in trouble?

it is in eurosystem isnt it?

If you mean in eurozone (countries paying with euro) then yes.

That's what how the call it.
Then you are allegedly safe up to 100K per account... for now...
EDIT:This may apply only for Euros though, not sure about foreign currency

But the real question should be is your account at Bitstamp, even when is fiat, whetehr USD or Euro, considered a "bank account" and under the same protections as someone with say a checking account at that same Slovenia Bank?  I don't know the exact answer but my guess would be no.  You do not technically have a bank account at the Slovenian Bank.  Bitstamp does.  Bitstamp holds money in your name under their account, most likely commingled with other peoples funds.

Yup pretty lame for an exchange to do IMHO, considering the state in eurozone right now... but I guess it has to do with bank IT infrastructure. I wouldn't choose a bank that doesn't support OFX or something similar, for a bussiness like this. I would even set the accounts as shared accounts, so as the client doesn't lose it's interest either...

[Rannasha]

But any reason to believe this particular bank is in trouble?

it is in eurosystem isnt it?

If you mean in eurozone (countries paying with euro) then yes.

That's what how the call it.
Then you are allegedly safe up to 100K per account... for now...
EDIT:This may apply only for Euros though, not sure about foreign currency

You are guaranteed up to 100K for your own bank account, not for money you deposit in someone elses bank account (in this case, Bitstamp).

[meanig]

Doesnt anybody have a link to older thread on which this was adressed?

It was discussed here

https://bitcointalk.org/index.php?topic=173318.0

The Slovenian government has pledged to fill the capital holes in the insolvent banks through general taxation and sales of state assets - not by taxing deposit holders in all banks or having a bail-in. The plan hasn't met with much opposition from the public so it seems like a bail-in isn't an option at the moment.

[thaaanos]

Doesnt anybody have a link to older thread on which this was adressed?

It was discussed here

https://bitcointalk.org/index.php?topic=173318.0

The Slovenian government has pledged to fill the capital holes in the insolvent banks through general taxation and sales of state assets - not by taxing deposit holders in all banks or having a bail-in. The plan hasn't met with much opposition from the public so it seems like a bail-in isn't an option at the moment.

Can't make up my mind which is worse... fuck taxpayers or fuck savers?

[Mikcik]

Ok thanks, well insurance is out of the picture since i think bitstamp holds the funds of its users on one or just few bank accounts, and i bet the whole ammount greatly exceeds the the 100 K insurance... Thats why im worried...

And is the solution implemented by the slovenian gov. currently permanent or is it clear that in the near future there will be something more...?

[skivrmt]

Ok thanks, well insurance is out of the picture since i think bitstamp holds the funds of its users on one or just few bank accounts, and i bet the whole ammount greatly exceeds the the 100 K insurance... Thats why im worried...

And is the solution implemented by the slovenian gov. currently permanent or is it clear that in the near future there will be something more...?

Once you wire the money to Bitstamp they usually will verify the funds within 24 hours.  This is of course assuming you are verified with them ahead of time.  While the price of Bitcoin could swing greatly in that time, if you're waiting for a drop, generally the drops have lasted longer than 24 hours.

[empoweoqwj]

But any reason to believe this particular bank is in trouble?

it is in eurosystem isnt it?

If you mean in eurozone (countries paying with euro) then yes.

That's what how the call it.
Then you are allegedly safe up to 100K per account... for now...
EDIT:This may apply only for Euros though, not sure about foreign currency

But the real question should be is your account at Bitstamp, even when is fiat, whetehr USD or Euro, considered a "bank account" and under the same protections as someone with say a checking account at that same Slovenia Bank?  I don't know the exact answer but my guess would be no.  You do not technically have a bank account at the Slovenian Bank.  Bitstamp does.  Bitstamp holds money in your name under their account, most likely commingled with other peoples funds.

You are dreaming if you think everyone opening an account with a bitcoin exchange gets their own bank account. Of course they don't. Bitstamp has one bank account shared between all customers.

[skivrmt]

But any reason to believe this particular bank is in trouble?

it is in eurosystem isnt it?

If you mean in eurozone (countries paying with euro) then yes.

That's what how the call it.
Then you are allegedly safe up to 100K per account... for now...
EDIT:This may apply only for Euros though, not sure about foreign currency

But the real question should be is your account at Bitstamp, even when is fiat, whetehr USD or Euro, considered a "bank account" and under the same protections as someone with say a checking account at that same Slovenia Bank?  I don't know the exact answer but my guess would be no.  You do not technically have a bank account at the Slovenian Bank.  Bitstamp does.  Bitstamp holds money in your name under their account, most likely commingled with other peoples funds.

You are dreaming if you think everyone opening an account with a bitcoin exchange gets their own bank account. Of course they don't. Bitstamp has one bank account shared between all customers.

I am agreeing with you!  I was informing the OP that most likely, like 99.9% likely ("never" use absolutes, lol), that he will not have his own account at this Slovenian bank, Bitstamp will.

[empoweoqwj]

But any reason to believe this particular bank is in trouble?

it is in eurosystem isnt it?

If you mean in eurozone (countries paying with euro) then yes.

That's what how the call it.
Then you are allegedly safe up to 100K per account... for now...
EDIT:This may apply only for Euros though, not sure about foreign currency

But the real question should be is your account at Bitstamp, even when is fiat, whetehr USD or Euro, considered a "bank account" and under the same protections as someone with say a checking account at that same Slovenia Bank?  I don't know the exact answer but my guess would be no.  You do not technically have a bank account at the Slovenian Bank.  Bitstamp does.  Bitstamp holds money in your name under their account, most likely commingled with other peoples funds.

You are dreaming if you think everyone opening an account with a bitcoin exchange gets their own bank account. Of course they don't. Bitstamp has one bank account shared between all customers.

I am agreeing with you!  I was informing the OP that most likely, like 99.9% likely ("never" use absolutes, lol), that he will not have his own account at this Slovenian bank, Bitstamp will.

No problem. Good to reinforce the point But honestly, there are much bigger risks in bitcoinworld than banks going bust ..... that gets proven nearly every week

[Mikcik]

Yeah i know that my money is NOT of course on some separate bank account but is on one big bank account of bitstamp. I know that. Thats one ofthe reason why im worried because the sums on that account have to in EACH moment far overreach the 100 000K insurance for EUR bank accounts :-)... So if slovenia would seize the money there i wouldnt get anything back :-).

And yeah there are other problems in bitcoin world, but slovenian banks are currentlly regretablly one of them :-(.

[empoweoqwj]

Yeah i know that my money is NOT of course on some separate bank account but is on one big bank account of bitstamp. I know that. Thats one ofthe reason why im worried because the sums on that account have to in EACH moment far overreach the 100 000K insurance for EUR bank accounts :-)... So if slovenia would seize the money there i wouldnt get anything back :-).

And yeah there are other problems in bitcoin world, but slovenian banks are currentlly regretablly one of them :-(.

OK, so you knew it already. That's good. So therefore you already knew you aren't insured if the bank goes under ......

Suggestion? Use a different exchange

[sickpig]

Bitstamp's bank is Unicredit banka Slovenija in Ljubljana, a subsidiary of Unicredit Bank Austria.

As far as I know Unicredit is italian.

[empoweoqwj]

Bitstamp's bank is Unicredit banka Slovenija in Ljubljana, a subsidiary of Unicredit Bank Austria.

As far as I know Unicredit is italian.

Quick google reveals:

"UniCredit - European financial leading Group in banking services with thousands of branches distributed in 22 countries and 50 markets."

[Mikcik]

Yeah i know that my money is NOT of course on some separate bank account but is on one big bank account of bitstamp. I know that. Thats one ofthe reason why im worried because the sums on that account have to in EACH moment far overreach the 100 000K insurance for EUR bank accounts :-)... So if slovenia would seize the money there i wouldnt get anything back :-).

And yeah there are other problems in bitcoin world, but slovenian banks are currentlly regretablly one of them :-(.

OK, so you knew it already. That's good. So therefore you already knew you aren't insured if the bank goes under ......

Suggestion? Use a different exchange

Which one? Im from europe, and i really dont trsu BTC-E, what othere option do i have for a big exchange :-)?

[skivrmt]

Yeah i know that my money is NOT of course on some separate bank account but is on one big bank account of bitstamp. I know that. Thats one ofthe reason why im worried because the sums on that account have to in EACH moment far overreach the 100 000K insurance for EUR bank accounts :-)... So if slovenia would seize the money there i wouldnt get anything back :-).

And yeah there are other problems in bitcoin world, but slovenian banks are currentlly regretablly one of them :-(.

OK, so you knew it already. That's good. So therefore you already knew you aren't insured if the bank goes under ......

Suggestion? Use a different exchange

Which one? Im from europe, and i really dont trsu BTC-E, what othere option do i have for a big exchange :-)?

You don't need to hold your Bitcoin's on the exchange.  Buy the bitcoins, when you feel the price has dropped enough to a value you like.  Then transfer the bitcoins to an offline wallet like MulitBit, Armory, etc.  I keep a small amount on a couple exchanges, but mostly held offline.

[Flanagan]

I think he's not worried about how fast he can take out his bitcoins from bitstamp, but of the USD he has parked there waiting to buy bitcoins when there's a sufficient enough good drop in price.

Personally I am inclined to buy soon, even if putting orders in several price ranges, but in anycase within a short time, say 7 days, to get the bitcooins and get them out fast just in case.

Greed is good, greed is bad.

There's a a disadvantage either way.

If you park your USD there indefinitely until bitcoin makes a big drop, say to $500, your greed is bad as puts you at risk of something happening to bitstamp or their bankers and losing your USD.

If you buy quickly as I mentioned above, reduce risk of losing your USD but of course maybe you are buying much higher than "you could have bought"....if there is another big drop which isn't sure either.

Since I prefer to deal in higher probabilities and lower risk, my opinion is to do what I describe instead of having a pile of USD sitting around somebodyu else's bank when there is no regulation that can compensate me in case of government robbery or the exchange's bankruptcy.

[empoweoqwj]

Yeah i know that my money is NOT of course on some separate bank account but is on one big bank account of bitstamp. I know that. Thats one ofthe reason why im worried because the sums on that account have to in EACH moment far overreach the 100 000K insurance for EUR bank accounts :-)... So if slovenia would seize the money there i wouldnt get anything back :-).

And yeah there are other problems in bitcoin world, but slovenian banks are currentlly regretablly one of them :-(.

OK, so you knew it already. That's good. So therefore you already knew you aren't insured if the bank goes under ......

Suggestion? Use a different exchange

Which one? Im from europe, and i really dont trsu BTC-E, what othere option do i have for a big exchange :-)?

You don't need to hold your Bitcoin's on the exchange.  Buy the bitcoins, when you feel the price has dropped enough to a value you like.  Then transfer the bitcoins to an offline wallet like MulitBit, Armory, etc.  I keep a small amount on a couple exchanges, but mostly held offline.

My advice as well. Limit your exposure to bitstamp for the 3 days it takes you to send in a SEPA payment and purchase the coins, then transfer back to a wallet.

[benzone]

Yeah i know that my money is NOT of course on some separate bank account but is on one big bank account of bitstamp. I know that. Thats one ofthe reason why im worried because the sums on that account have to in EACH moment far overreach the 100 000K insurance for EUR bank accounts :-)... So if slovenia would seize the money there i wouldnt get anything back :-).

And yeah there are other problems in bitcoin world, but slovenian banks are currentlly regretablly one of them :-(.

Slovenia would seize the money? Please don't write such nonsense. I think what you are (very clumsily) trying to say is, that if Slovenian branch of Unicredit would go bankrupt, Slovenian state would only insure (i.e. vouch for) deposits up to 100.000€, which is standard EU limit.

The only problem Bitstamp has are posts like this. I don't think they have their cash sitting on a local Unicredit account anyway and even if they were, Unicredit Slovenia is doing just fine. It was stress tested in 2013 and it didn't have to be included in the bad bank scheme.  3 other banks were included, but even there no deposits were touched, above or bellow 100.000€!

Ignorance pumping FUD, all there is to it.

[empoweoqwj]

Yeah i know that my money is NOT of course on some separate bank account but is on one big bank account of bitstamp. I know that. Thats one ofthe reason why im worried because the sums on that account have to in EACH moment far overreach the 100 000K insurance for EUR bank accounts :-)... So if slovenia would seize the money there i wouldnt get anything back :-).

And yeah there are other problems in bitcoin world, but slovenian banks are currentlly regretablly one of them :-(.

Slovenia would seize the money? Please don't write such nonsense. I think what you are (very clumsily) trying to say is, that if Slovenian branch of Unicredit would go bankrupt, Slovenian state would only insure (i.e. vouch for) deposits up to 100.000€, which is standard EU limit.

The only problem Bitstamp has are posts like this. I don't think they have their cash sitting on a local Unicredit account anyway and even if they were, Unicredit Slovenia is doing just fine. It was stress tested in 2013 and it didn't have to be included in the bad bank scheme.  3 other banks were included, but even there no deposits were touched, above or bellow 100.000€!

Ignorance pumping FUD, all there is to it.

Great info. Still general principle applies though. Don't leave huge wads of fiat (or bitcoins) lying around any exchange - gox, bitstamp, whoever it they may be. Your money is always safer in your hands.

[thaaanos]

Yeah i know that my money is NOT of course on some separate bank account but is on one big bank account of bitstamp. I know that. Thats one ofthe reason why im worried because the sums on that account have to in EACH moment far overreach the 100 000K insurance for EUR bank accounts :-)... So if slovenia would seize the money there i wouldnt get anything back :-).

And yeah there are other problems in bitcoin world, but slovenian banks are currentlly regretablly one of them :-(.

Slovenia would seize the money? Please don't write such nonsense. I think what you are (very clumsily) trying to say is, that if Slovenian branch of Unicredit would go bankrupt, Slovenian state would only insure (i.e. vouch for) deposits up to 100.000€, which is standard EU limit.

The only problem Bitstamp has are posts like this. I don't think they have their cash sitting on a local Unicredit account anyway and even if they were, Unicredit Slovenia is doing just fine. It was stress tested in 2013 and it didn't have to be included in the bad bank scheme.  3 other banks were included, but even there no deposits were touched, above or bellow 100.000€!

Ignorance pumping FUD, all there is to it.

Great info. Still general principle applies though. Don't leave huge wads of fiat (or bitcoins) lying around any exchange - gox, bitstamp, whoever it they may be. Your money is always safer in your hands.

Local international bank branches accounts are not the same as international bank accounts, diffrent Treasury.
Should slovenia get what Cyprus got they will feel the burn too, but it will not be an option anyway as there will be little gain in that scenario.
The only ones who could propably get the same treatment would be Lux, and Malta, as Taxpayers would not be able to cover their banks anyway.
So Slovenia is safe IMMHO