Intersango exchange (formerly Britcoin)

[nopasaran]

"Down for maintenance."

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[tomfluff]

Site is still down for maintenance here.

Still a great service Genjix is providing. It's just a shame my money is in GBP whilst the prices are rising Hopefully it's back up soon.

Genjix are you a one man army coding this site or is there a group of you?

[snaz30]

icicle... Yeah i feel your pain dude that must suck... I cant talk for britcoin really so i have no idea what's happened in your case... All i can suggest is try to e mail again... Also the guy is offering a free service and you can imagine how many people are using it, mistakes are bound to happen, i know it's tough when its you, but just try to stay positive... I hope you get the matter resolved soon... It's a bit worrying that the britcoin charts have just seemed to stop... Hopefully we'll have news of what.s going on soon.

[Calibre]

I suspect that if the back-end is still down/broken then that would cause the lack of updates on bitcoincharts and would also explain any delays in bank transfers materialising in user profiles. The funds (including my own) are probably sat in the bank account, but genjix is remaining as cautious as ever (as he has done so far) to ensure that nothing gets screwed up during these platform changes.

Fingers crossed that he can get everything back to normal and stable before the price starts to motor again!  

[genjix]

We are really sorry for these delays. We are working full time to get this fixed. We have just moved servers and in the future we will be moving bank accounts. Although we are having some delays now, these switches are all being done to increase site security and to be able to seemlessly scale with future volume.

Thank you for your patience.

[Calibre]

Thanks for the update!  

Can you tell us what impact this has on processing bank deposits? Is there any kind of backlog at the moment? It would be good to get a view on how quickly or otherwise transfers will be processed.

[jonathan]

Genjix, you are--or might be feeling--under a fuckload of pressure here. I hope you are coping OK. Don't let this all get you down! You have done some great work. What's the addy to send you a btc contribution?

[genjix]

Thank you, that is much appreciated. I am not taking donations now though as that may have legal implications.

Yesterday during the day, before the server change over, we processed all the deposits and withdraws. We are hoping to be able to do the same thing tomorrow during bank hours. Once we have fully switched servers, we plan to process deposits and withdaws daily during bank hours so that people in the UK will be able to deposit and have the funds in their account same day (if they deposit early in the day). Same for cashouts.

[Calibre]

Thanks genjix - these updates are very much appreciated.

Just a quick question - would you have any objection to users making cash deposits at bank branches? I could understand you objecting to this (although there is nothing to stop people trying anyway) just in case the reference number was not captured/entered correctly by the teller at the time of deposit.

[janice]

Thanks genjix - these updates are very much appreciated.

Just a quick question - would you have any objection to users making cash deposits at bank branches? I could understand you objecting to this (although there is nothing to stop people trying anyway) just in case the reference number was not captured/entered correctly by the teller at the time of deposit.

If BritCoin opt to operate out of the UK, they will be bound by the UK Money Laundering Regulations: http://www.legislation.gov.uk/uksi/2007/2157/regulation/20/made

That typically makes it impractical to accept funds by "anonymous" donations, else you risk an early morning wake up: http://www.guardian.co.uk/world/2011/jan/05/police-smash-london-drug-gangster-syndicate

"the nearby Euro Foreign Exchange, through which up to £1m a day in drug money would be laundered"

[Jobbernowl]

If BritCoin opt to operate out of the UK, they will be bound by the UK Money Laundering Regulations: http://www.legislation.gov.uk/uksi/2007/2157/regulation/20/made

That legislation look like it pretty covers Britcoin's operations. Is there a reason for them to be exempt needing do all that scrutiny of customers and transactions stuff?

[Calibre]

Ahhhh... of course, that makes a lot of sense. Bank transfers are traceable and non-anonymous, cash payments are not (or rather, considerably less so).

How on earth am I going to be able to launder my profits from prostitution and crack dealing now?  

[Calibre]

If BritCoin opt to operate out of the UK, they will be bound by the UK Money Laundering Regulations: http://www.legislation.gov.uk/uksi/2007/2157/regulation/20/made

That legislation looks like it pretty neatly covers Britcoin's operations. Is there a reason for them to be exempt from needing to do all that scrutiny of customers and transactions stuff?

I think the only weak element there is the use of OpenID, where customer contact details are not explicitly requested, and the non-verification of customer identity (copy of a utility bill, driving licence, passport, etc).

[Floomi]

Fairly sure Genjix said a few pages back the new version won't be accepting OpenID.

[Jobbernowl]

I wonder if we'll have to provide proof of identity in future? I'm fine with that myself, but I guess not UK people won't be...

[Floomi]

Then they can set up their own exchange and use that instead. Or convert to dollars and trade on Mt. Gox.

This is, of course, pure speculation.

[Calibre]

That's a lot of manual work (read: high costs) that would need to be re-couped through charges, most likely. People don't come (very) cheap.

I'm also comfortable with proof of ID, and to be honest I think it's the way markets will need to go if they want to ward off being shutdown - although if governments go after Bitcoin in general, then that will be a bit of a moot point.

[The Koolio]

britcoin still down or is it my rig?

[snaz30]

The Koolio... Yeah it looks that way mate, it's down for me too... I'm sure it will be back by tomorrow... Gutting though aint it... I miss checking the rates :-(

[The Koolio]

The Koolio... Yeah it looks that way mate, it's down for me too... I'm sure it will be back by tomorrow... Gutting though aint it... I miss checking the rates :-(

I know, it was the best exchaange for making money!