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Author Topic: BitMarket.Eu has closed down  (Read 182489 times)
Mahkul
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April 05, 2011, 07:52:25 PM
 #1

This was created primarily to support PLN (Polish złoty), but we have decided not to limit ourselves and add support for EUR and GBP.

https://bitmarket.eu/

The way it works is a little bit different than usual and at the same time very similar to the old version of BitcoinMarket.com.

In order to sell Bitcoins you need to transfer them to your BitMarket account and the minute you put up an offer the Bitcoins get frozen (until you cancel the offer or until it's filled).
To buy Bitcoins, you simply make an offer matching whatever is out there for sale. If your offer doesn't match any pending ones, it just stays there until it's filled.

Just like ebay, we leave it to the buyer and seller to decide on the payment methods etc. (the default is wire-transfer, but as a seller you can propose a different payment method if you want). Please note that if a method different than a wire-transfer is picked we will not be able to resolve any issues related to unsuccessful transactions (at least with the bank transfer the buyer can prove that they sent the money). We advise everyone not to accept Paypal or any other payment methods supporting charge backs from people you don't know. In the future, if the need be, we may introduce a feedback system, depending on the popularity of the exchange.

There is no commission (for now), so you can trade away for free. The only reason for which we may introduce commissions in the future would be if people started abusing the service to manipulate the bitcoin market price.

The access to the site is encrypted with an SSL certificate signed by GlobeSSL so you can rest assured that more than likely no-one will be able to eavesdrop your password.

After depositing some Bitcoins onto your account please be patient, because the values on the site refresh once per minute.

If you have any questions, suggestions or remarks please write in this thread or send an email to the address in the contact section on site.

This exchange is run by myself and a friend of mine so basically if you trust me you can trust the exchange.

Bitalo.com coming soon!

1MAHKULzqZb4evFFg9157LvnJhJQQbeYo7
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SmokeTooMuch
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April 05, 2011, 08:27:06 PM
 #2

Awesome !

Date Registered: 2009-12-10 | I'm using GPG, pm me for my public key. | Bitcoin on Reddit: https://www.reddit.com/r/btc
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April 05, 2011, 08:43:22 PM
 #3

Are there sources for creating a market? Would be awesome for people not so good with coding and who want to relate bitcoin to other currencies.

If you hate me, you can spam me here: 19wdQNKjnATkgXvpzmSrkSYhJtuJWb8mKs
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April 05, 2011, 08:49:42 PM
 #4

This market is developed by us, we didn't use any available sources. We plan to open source the market in the coming weeks, so others can also set up regional markets.

In the mean time, you can already use sources of two markets:

- Bitcoin Central
- Britcoin.co.uk

Google is your friend in finding them Smiley.
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April 05, 2011, 09:29:47 PM
 #5

Thank you , thank you, thank you!

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April 05, 2011, 10:55:12 PM
 #6

Are there sources for creating a market? Would be awesome for people not so good with coding and who want to relate bitcoin to other currencies.

Would be nice to have an exchange plugin for some of the popular cms's out there such as wordpress,drupal and joomla.

Although you shouldn't be running an exchange if you can't monitor the code and ensure it hasnt been hacked......
BioMike
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April 06, 2011, 05:21:54 AM
 #7

Yay, seems more as a system to replace bitcoin-otc then an actual exchange (the way you describe it). I'm going to give this a try.

[edit]
How can I see the payment method in transactions? I'm only interested in EURO (IBAN/BIC) bank transfers.
[/edit]

[edit2]There seems to be some sort of Flash thingie (no idea what it does) blocking my deposit address.[/edit2]
M4v3R
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April 06, 2011, 10:45:14 AM
 #8

BioMike: Please turn on flash for this website. There's a small Flash plugin on the deposit address for copying it to the clipboard with only one click. It's a conveinence thing, you can hide the flash with some FlashBlock plugin if you don't like it.
Mahkul
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April 06, 2011, 11:04:33 AM
 #9

Yay, seems more as a system to replace bitcoin-otc then an actual exchange (the way you describe it). I'm going to give this a try.

Here you can be sure that the seller:

a) actually has the bitcoins
b) cannot change their mind after you send them the money (even if they are a new user) since the coins get frozen once the offer is accepted

Bitalo.com coming soon!

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purplezky
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April 06, 2011, 12:42:04 PM
 #10

There is a bug in the system which needs to be solved asap.  Huh
I was willing to sell bitcoins to test the new Bitmarket.
I always want to be sure that it is working correctly before transfering larger amounts.
I matched a low bid with an equal ask price.
The bitcoin froze at this point.
Then pressed confirm, which transfered a bitcoin to the other party.
The bitcoin transfered, but the bid did not disappear.
Then I created a new equal ask price offer.
At which moment it matched the bid again and froze an extra bitcoin.
Seems like bids are never removed after you match them ?

Btw: I do like the layout and looks of the interface and would love a JSON or XML interface to Asks, Bids and Trades.
 Grin

Cheers,
   purplezky
Mahkul
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April 06, 2011, 01:09:26 PM
 #11

There is a bug in the system which needs to be solved asap.  Huh
I was willing to sell bitcoins to test the new Bitmarket.
I always want to be sure that it is working correctly before transfering larger amounts.
I matched a low bid with an equal ask price.
The bitcoin froze at this point.
Then pressed confirm, which transfered a bitcoin to the other party.
The bitcoin transfered, but the bid did not disappear.
Then I created a new equal ask price offer.
At which moment it matched the bid again and froze an extra bitcoin.
Seems like bids are never removed after you match them ?

Btw: I do like the layout and looks of the interface and would love a JSON or XML interface to Asks, Bids and Trades.
 Grin

Cheers,
   purplezky

I just did that myself and the bid offer disappeared. Very strange, I will look into it.

Did you get any confirmation emails?

Bitalo.com coming soon!

1MAHKULzqZb4evFFg9157LvnJhJQQbeYo7
Mahkul
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April 06, 2011, 01:26:21 PM
 #12

There is a bug in the system which needs to be solved asap.  Huh
I was willing to sell bitcoins to test the new Bitmarket.
I always want to be sure that it is working correctly before transfering larger amounts.
I matched a low bid with an equal ask price.
The bitcoin froze at this point.
Then pressed confirm, which transfered a bitcoin to the other party.
The bitcoin transfered, but the bid did not disappear.
Then I created a new equal ask price offer.
At which moment it matched the bid again and froze an extra bitcoin.
Seems like bids are never removed after you match them ?

Btw: I do like the layout and looks of the interface and would love a JSON or XML interface to Asks, Bids and Trades.
 Grin

Cheers,
   purplezky

I just did that myself and the bid offer disappeared. Very strange, I will look into it.

Did you get any confirmation emails?

Just got your email, nevermind. I will get back to you on this asap.

Bitalo.com coming soon!

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Mahkul
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April 06, 2011, 02:40:07 PM
 #13

There is a bug in the system which needs to be solved asap.  Huh
I was willing to sell bitcoins to test the new Bitmarket.
I always want to be sure that it is working correctly before transfering larger amounts.
I matched a low bid with an equal ask price.
The bitcoin froze at this point.
Then pressed confirm, which transfered a bitcoin to the other party.
The bitcoin transfered, but the bid did not disappear.
Then I created a new equal ask price offer.
At which moment it matched the bid again and froze an extra bitcoin.
Seems like bids are never removed after you match them ?

Btw: I do like the layout and looks of the interface and would love a JSON or XML interface to Asks, Bids and Trades.
 Grin

Cheers,
   purplezky

We have tested everything again and it seems to be working fine. I have sent you an email with possible explanation of what happened. Please write me back when you get it. Thanks.

Bitalo.com coming soon!

1MAHKULzqZb4evFFg9157LvnJhJQQbeYo7
BioMike
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April 06, 2011, 06:58:16 PM
 #14

Why do cancelled transactions end up in "Your fulfilled offers"? Doesn't seem logical.
Mahkul
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April 06, 2011, 07:19:18 PM
 #15

Why do cancelled transactions end up in "Your fulfilled offers"? Doesn't seem logical.

You're right - we are changing it now. The name of the table will now be "closed offers" and also, the offers that have been cancelled will be grayed out.

Bitalo.com coming soon!

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Mahkul
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April 06, 2011, 08:10:30 PM
 #16

Why do cancelled transactions end up in "Your fulfilled offers"? Doesn't seem logical.

You're right - we are changing it now. The name of the table will now be "closed offers" and also, the offers that have been cancelled will be grayed out.

This is done now.

Bitalo.com coming soon!

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BioMike
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April 07, 2011, 04:39:26 AM
 #17

Why do cancelled transactions end up in "Your fulfilled offers"? Doesn't seem logical.

You're right - we are changing it now. The name of the table will now be "closed offers" and also, the offers that have been cancelled will be grayed out.

This is done now.

Thank you, much better. Still wondering about the following:

Lets say I won to buy some bitcoins. The person offering wants to be paid through Paypal, but I only want to pay through bank. How would this resolve? Will his bitcoins stay frozen until I pay (which I won't because he only accepts paypal)? And I want to place an order again at the same price (which will be matched again with this same seller), but can't.
M4v3R
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April 07, 2011, 06:08:06 AM
 #18

We can try to resolve this by letting people to specify which payment options they accept. Then we would only match offers that have common payment options. What do you think?

We are also thinking about escrow service to add another layer of security to payments, but that's another thing.
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April 07, 2011, 06:13:42 PM
 #19

We can try to resolve this by letting people to specify which payment options they accept. Then we would only match offers that have common payment options. What do you think?

Great idea! I'll donate 20 BTC when that gets implemented.

We are also thinking about escrow service to add another layer of security to payments, but that's another thing.

Yes, that would sometimes be handy. As long as that stays optional.
M4v3R
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April 07, 2011, 07:25:32 PM
 #20

We are also thinking about escrow service to add another layer of security to payments, but that's another thing.

Yes, that would sometimes be handy. As long as that stays optional.

Yes, it will be optional.

We're in progress of adding the payment options feature. In the meanwhile, in order to be more transparent, we set up a Twitter account, where we'll post updates and news about the site.

Stay tuned! Smiley
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