Campbx - another exchange bites the dust

[empoweoqwj]

Someone should buy them since they are FinCEN registered. The new owner would spare lot of time.

Do they have money transmission licenses in 50 States?

I think just in their state - Georgia.

Probably why they can't function / have no customers to speak of.

[jamesc760]

OP's title is HIGHLY misleading. Campbx is NOt closing, they're just not offering ACH withdrawals at least temporarily, until they can find another bank who they can work with.

Campbx has NOT bitten the dust.

Campbx's death has been highly exaggerated by the OP.

[BitcoinAshley]

Following. The buy option is interesting, but did they say they are closing shop or just that the bank dumped them?

They are not closing. They still have the same deposit/withdrawal options they did before they instated ACH withdraw and deposit.

For deposit, they have personal check or USPS/Moneygram/WU money order, with no fee.

For withdraw, they have USPS money order ($20), domestic wire ($20), and international wire ($35).

Obviously not as convenient as ACH. What I want to know is, why didn't they get more market share while offering ACH in and out for $2? Not a lot of exchanges were so easy to fund and withdraw from. Marketing fail. Aside from their interface being slow and requiring too many page loads for my liking, and having the typical slow customer service, they were pretty legit and they were one of 3 exchanges that I prefer to use.

[coinage]

Here are some recent posts by CampBX, on Reddit, which show their viewpoint:
 

CampBX news: Unfortunately we have some bad news regarding our ACH and WIRE Processor
  . . .
Funds are not frozen. It was a business decision on their part to not work with Bitcoin.
  . . .
Our sincerest apologies to all customers for this inconvenience. We are working to find an alternative as fast as we can.

The thread title is a rather cruel attack on a small, brave bitcoin company.  CampBX's latest post on Reddit:

We are a six people team.

Someone with the power should retitle this thread and move it to Service Discussion.

Ah, maybe the publicity will help a few new customers notice the exchange.

[Carlton Banks]

Someone should buy them since they are FinCEN registered. The new owner would spare lot of time.

Organize a group buy?

Following. The buy option is interesting, but did they say they are closing shop or just that the bank dumped them?

I don't know whether anyone's spotting the pattern here, but the thread title does say it: the exchanges are being targeted by banks and the payments infrastructure, despite all the recent good news out of the US hearings.

Is this something systematic, arranged for by the protection racket insiders big business players, trying to elbow their way into the bitcoin service providers arena? We'll possibly never know the full story, but I wonder whether all the incumbent exchanges aren't shuttered one after another over the coming year. Expect plenty of time to pass in purgatory, to make sure bitcoin users are in total agony, and then....

..... right on time to save us like the big heroes of regulatory compliance they will depict themselves as, will be someone like Circle. Or some other new financial industry insider-friendly startup, and they will magically have no problems with regulatory issues (totally to do with their hero-like virtue and definitely following all the rules, aka the rules that state you have to be part of the gang to be a big fish in the sea). And I bet their business model will be about as honest as Coinbase's. Perhaps a sudden hike in the fees, across all brand new shiny happy face helpful super exchanges!    (it's to cover the cost of the cartel protection fee "extended" regulatory compliance, of course, expensive stuff this bitcoin compliance)


Taking on the running of CampBX may well end up the same; it will carry on having it's operations disrupted by corrupt interventions by people who can't compete in business without using force.

[notig]

Someone should buy them since they are FinCEN registered. The new owner would spare lot of time.

Organize a group buy?

Following. The buy option is interesting, but did they say they are closing shop or just that the bank dumped them?

I don't know whether anyone's spotting the pattern here, but the thread title does say it: the exchanges are being targeted by banks and the payments infrastructure, despite all the recent good news out of the US hearings.

Is this something systematic, arranged for by the protection racket insiders big business players, trying to elbow their way into the bitcoin service providers arena? We'll possibly never know the full story, but I wonder whether all the incumbent exchanges aren't shuttered one after another over the coming year. Expect plenty of time to pass in purgatory, to make sure bitcoin users are in total agony, and then....

..... right on time to save us like the big heroes of regulatory compliance they will depict themselves as, will be someone like Circle. Or some other new financial industry insider-friendly startup, and they will magically have no problems with regulatory issues (totally to do with their hero-like virtue and definitely following all the rules, aka the rules that state you have to be part of the gang to be a big fish in the sea). And I bet their business model will be about as honest as Coinbase's. Perhaps a sudden hike in the fees, across all brand new shiny happy face helpful super exchanges!    (it's to cover the cost of the cartel protection fee "extended" regulatory compliance, of course, expensive stuff this bitcoin compliance)


Taking on the running of CampBX may well end up the same; it will carry on having it's operations disrupted by corrupt interventions by people who can't compete in business without using force.

That was my intention of the thread title.... not to attack campbx. I hope they stick around and work things out.

[Carlton Banks]

I don't know whether anyone's spotting the pattern here, but the thread title does say it: the exchanges are being targeted by banks and the payments infrastructure, despite all the recent good news out of the US hearings.

That was my intention of the thread title.... not to attack campbx. I hope they stick around and work things out.

I reckon if CampBx want to survive, they'll likely end up with a few redundancies out of those 6 people running it now, plus a few extra new appointments filled by some friendly Wall Street wiseguys niceguys

[billyjoeallen]

Someone should buy them since they are FinCEN registered. The new owner would spare lot of time.

Organize a group buy?

Following. The buy option is interesting, but did they say they are closing shop or just that the bank dumped them?

I don't know whether anyone's spotting the pattern here, but the thread title does say it: the exchanges are being targeted by banks and the payments infrastructure, despite all the recent good news out of the US hearings.

Is this something systematic, arranged for by the protection racket insiders big business players, trying to elbow their way into the bitcoin service providers arena? We'll possibly never know the full story, but I wonder whether all the incumbent exchanges aren't shuttered one after another over the coming year. Expect plenty of time to pass in purgatory, to make sure bitcoin users are in total agony, and then....

..... right on time to save us like the big heroes of regulatory compliance they will depict themselves as, will be someone like Circle. Or some other new financial industry insider-friendly startup, and they will magically have no problems with regulatory issues (totally to do with their hero-like virtue and definitely following all the rules, aka the rules that state you have to be part of the gang to be a big fish in the sea). And I bet their business model will be about as honest as Coinbase's. Perhaps a sudden hike in the fees, across all brand new shiny happy face helpful super exchanges!    (it's to cover the cost of the cartel protection fee "extended" regulatory compliance, of course, expensive stuff this bitcoin compliance)


Taking on the running of CampBX may well end up the same; it will carry on having it's operations disrupted by corrupt interventions by people who can't compete in business without using force.

That was my intention of the thread title.... not to attack campbx. I hope they stick around and work things out.

It's unlikely a grand conspiracy. It's much more probably simple risk aversion from banks due to regulatory uncertainty. How many banks had internet banking in 1995? How many do now?

Camp BX stuck around when Trade Hill, Bitmarket.eu, Bitoption and others failed. They are established and all funds are (relatively) safe.

[Carlton Banks]

It's unlikely a grand conspiracy. It's much more probably simple risk aversion from banks due to regulatory uncertainty.

Despite the recent increase in regulatory certainty?

I'm not totally sure, but I suspect that either the exchanges we have will be forced to quit, or forced to cede control of their company. That's how it tends to work in the upper echelons of finance, competing on fair terms forces the big guys to do the same, and that's just unthinkable to them.

[empoweoqwj]

I have trouble with a company that posts "Closed due to inclement weather" 

[billyjoeallen]

I have trouble with a company that posts "Closed due to inclement weather" 

Really happened! My bank in southern Louisiana closed during the same cold snap. I couldn't believe it. If You are really paranoid, go ahead and buy BTC with your fiat on campBX and xfer it out. I have a 30 BTC sell order at $899.99 and it's not fake. I'll only move it if the price moves up on all the other exchanges also. No bank run on my watch.

[empoweoqwj]

I have trouble with a company that posts "Closed due to inclement weather" 

Really happened! My bank in southern Louisiana closed during the same cold snap. I couldn't believe it. If You are really paranoid, go ahead and buy BTC with your fiat on campBX and xfer it out. I have a 30 BTC sell order at $899.99 and it's not fake. I'll only move it if the price moves up on all the other exchanges also. No bank run on my watch.

lol. I wouldn't go near CampBX. Just read a thread:

https://bitcointalk.org/index.php?topic=441294

Guy hasn't been able to get his money out since 22nd Jan. Plus other complaints.

Not saying bad weather doesn't happen. I am saying CampBX aren't getting any of my bitcoins or fiat.

[BitcoinAshley]

Eh, never had a problem getting money in or out of CampBX.

Been using them almost a year.

They are very slow with depositing checks/money orders, and very slow and sometimes inadequate with customer service.

I can only speak from my own experience.

Up until the bank account issue I have regularly been xfering cash out and in, and bitcoin out and in, with no issue.

It is a shame that ACH is gone.

Stop bitching about the weather excuse! Have any of you clowns ever been to the south of the good ole' USA? If it snows even an inch there they shut everything down, they don't know what snow is, they have never seen it. You'll see pickup trucks spinning out on the highways because they have 2WD and all-seasons. Atlanta was indeed shut down... sorry the CampBX employees did not wish to break road bans to answer your customer service emails... it's not like they're good at customer service anyways, so does it really make a difference, lol, shitty customer service 3 days late or 4 days late...

They're obviously not the best exchange but if you want to fund with check/money order, don't mind the UI with excessive page-loads, and live in the U.S. it's not a bad deal. The sky isn't falling and they're not running away with your funds. They are FINCEN certified and have a real physical location, they are not anonymous bulgarian hackers running an exchange on freeneet or anything...

[empoweoqwj]

Eh, never had a problem getting money in or out of CampBX.

Been using them almost a year.

They are very slow with depositing checks/money orders, and very slow and sometimes inadequate with customer service.

I can only speak from my own experience.

Up until the bank account issue I have regularly been xfering cash out and in, and bitcoin out and in, with no issue.

It is a shame that ACH is gone.

Stop bitching about the weather excuse! Have any of you clowns ever been to the south of the good ole' USA? If it snows even an inch there they shut everything down, they don't know what snow is, they have never seen it. You'll see pickup trucks spinning out on the highways because they have 2WD and all-seasons. Atlanta was indeed shut down... sorry the CampBX employees did not wish to break road bans to answer your customer service emails... it's not like they're good at customer service anyways, so does it really make a difference, lol, shitty customer service 3 days late or 4 days late...

They're obviously not the best exchange but if you want to fund with check/money order, don't mind the UI with excessive page-loads, and live in the U.S. it's not a bad deal. The sky isn't falling and they're not running away with your funds. They are FINCEN certified and have a real physical location, they are not anonymous bulgarian hackers running an exchange on freeneet or anything...

Yeah, but they have no bank to work with any more.

Try bitstamp.net for a better experience  than campbx or btc-e. If campbx were any good, they would have had some trading volume. They didn't manage that even after running for quite a while. The volume was tiny.