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Author Topic: BitMarket.Eu has closed down  (Read 182714 times)
colossus
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May 13, 2011, 06:05:30 PM
 #101

Great job btw i love the site its easy and swift, any news on the rating option i think it would be great to have a rating system like ebay hope that gets in soon, might encourage more people to trade.

Keep up the good work!
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May 13, 2011, 07:58:39 PM
 #102

Maybe it was better if you could seperately set the payment options for buying and selling.

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May 15, 2011, 10:41:52 PM
 #103

Major site update available!

First of all, thank you all for using BitMarket.eu to this day. There was many hiccups, but you guys were awesome and understanding, which is great. The all little things that irritated people gave us a reason to think what we can do to make the site better. There were some problems, that occurred very frequently, for example:

- people released their BTC funds too quickly, before actually receiving cash for them
- many times both parties wanted to cancel transaction for many reasons, which always had to be dealt by us
- some not serious members that were changing their minds regarding transactions, didn't reply to emails and such

All that has lead us to work on the new version of the site, which is very different from the old one in few key aspects. Biggest of them all is that all members have to be verified before making any offers. This is a one-time process every member has to pass to be able to use BitMarket. The verification can be done in several ways:

- people that had sucessful transactions in the previous version with at least 2 people will be verified if they let us know of this
- through Bitcoin-OTC account. To do this, you need to have GPG Authentication linked to your OTC profile
- providing us with a good history of CoinPal trades
- other means that we didn't think of yet

After successful verification you will be able to use BitMarket like you did before.

And now for a (unordered) list of what has been added or changed on the site:

- Change of withdrawal address needs an email confirmation now. This is for security reasons to protect you against scams.
- You, as a BTC seller, can (and should) define a message that will be sent to the buyer when he/she buys your BTC. This is for conveinence, so you don't have to send info about your bank/Paypal details every time. You can do this in your Account Details page.
- You can now cancel transactions. To do this, both parties have to agree on this (when one request it, other one will be asked for confirmation). This is now all automatic, so you don't have to bother contacting us directly anymore Smiley
- When pushing "Send BTC" a dialog will show describing what you are going to do, asking you if you really want to send the BTC to buyer (i.e. if the buyer already paid you)
- We revamped FAQ section, so now it's easier to find information about how the site works. We also added many more information to it
- The required number of confirmations for your funds to show up on the site is now 2.
- The minimum offer amount is now 1 BTC
- I probably forgot some small things, it's for you to discover them Smiley
- And hey, did I mention we're still 100% free?

What to expect

We haven't done yet. In near future we'll introduce member rating system, linked Bitcoin-OTC one. We'll also export your rating to the Bitcoin-OTC, so you will be able to use trust you've built on other sites. We have also other plans, but we can tell you all now Wink.

Like our service?

If yes, we kindly ask you to:
- leave a feedback on what do you like (and what you don't like) about the site
- use the address at the bottom of the site if you have some spare BTC Wink
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May 15, 2011, 10:52:59 PM
 #104

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M4v3R
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May 15, 2011, 10:55:37 PM
 #105

@0110: It's a hard trade-off - user conveinience and security vs ease of entry and use. Because the money is involved, we'll want to go for the former. Still, we're open for new verification procedure ideas if you can come up with something better.

Also because the money is involved we believe that people are willing to take some steps to be able to participate in this market in the long term. If you just want to buy some quick BTC then BitMarket.eu is not for you, perhaps you can try MtGox or some other "live" market site.
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May 15, 2011, 10:56:34 PM
 #106

You are aware that your veryfication rules basically exclude anybody new to bitcoins? (and quite a few who just havent used these services...)

(in an emerging/wannabee market .... doesnt sound very sensible to me. Far to restrictive.)

Not necessarily. There are plenty ways to get registered and usually Paypal is the main issue. If you have a good transaction records with, for instance, ebay - we will be able to verify you.

Also, forum reputation or being recommended by someone with good reputation works. Just email us.

Bitalo.com coming soon!

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mewantsbitcoins
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May 15, 2011, 11:01:20 PM
 #107

Well done. Verification rules are the way to build solid community and while it may take longer we will benefit from lower fraud in the long run
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May 15, 2011, 11:20:31 PM
 #108

Maybe it was better if you could seperately set the payment options for buying and selling.

That's a very fair point, we will do this with the next update.

Bitalo.com coming soon!

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May 16, 2011, 12:13:11 AM
 #109

Not necessarily. There are plenty ways to get registered and usually Paypal is the main issue. If you have a good transaction records with, for instance, ebay - we will be able to verify you.
How can you verify that the eBay profile I would send you is really me?
Anyways, I'll contact you with my eBay name to be able to lurk along and wait until the price is right! Smiley

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foo
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May 16, 2011, 12:32:38 AM
 #110

Not necessarily. There are plenty ways to get registered and usually Paypal is the main issue. If you have a good transaction records with, for instance, ebay - we will be able to verify you.
How can you verify that the eBay profile I would send you is really me?
Anyways, I'll contact you with my eBay name to be able to lurk along and wait until the price is right! Smiley
If you can send an eBay message from the account you prove that you can log in to that account, at least.

I know this because Tyler knows this.
Mahkul
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May 16, 2011, 12:38:47 AM
 #111

How can you verify that the eBay profile I would send you is really me?
it's been discussed on this forum already. you might be asked to edit your ebay profile
to include a specific text message as a proof of account ownership.

Exactly. Smiley

Bitalo.com coming soon!

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Mahkul
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May 16, 2011, 12:42:18 AM
 #112

I am going to sleep now, so all verification requests received from now on will be handled in ~8 hours.

Bitalo.com coming soon!

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ploum
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May 16, 2011, 10:03:50 AM
 #113

I'm curious to see if it will slow down transactions on bitmarket.eu or not.

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May 16, 2011, 01:01:54 PM
 #114

What I really would like to be clarified in the FAQ is how to handle paypal fees and what's the recommended way to trade with paypal in general.

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Mahkul
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May 16, 2011, 08:19:39 PM
 #115

Just to give you guys an update: the verification process has been going quite smoothly.

I would like to encourage our sellers to start accepting Paypal - only buyers with good CoinPal, OTC and ebay history (with the same Paypal email address used to login to bitmarket.eu) are allowed to trade on Bitmarket, so the risk of chargeback has been lowered to minimum. Of course, we can't guarantee anything, but I think you are pretty much safe.

To give you a figure, we have verified ~50 out of ~900 registered members so far, so you can see that we are going pretty seriously about this.

We are hoping to make BitMarket a place where a seller can use Paypal with equal confidence as if they were using wire-transfer as payment method.

Bitalo.com coming soon!

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SmokeTooMuch
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May 16, 2011, 08:45:30 PM
 #116

Are you planning to implement seperate payment options for buying and selling ?
(For example: I don't want to selling bitcoins for PayPal but I wouldn't mind buying coins via PayPal)

This is the main reason why my transactions are getting canceled T.T

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Mahkul
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May 16, 2011, 09:11:02 PM
 #117

Are you planning to implement seperate payment options for buying and selling ?
(For example: I don't want to selling bitcoins for PayPal but I wouldn't mind buying coins via PayPal)

This is the main reason why my transactions are getting canceled T.T

Perhaps you could consider selling for Paypal (given my post above, this is pretty safe now)

Either way, we will implement this feature with the next update.

Bitalo.com coming soon!

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anatolikostis
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May 16, 2011, 09:20:38 PM
 #118

I want to verify my account, but I have no sucessful transactions in the previous version...., through Bitcoin-OTC account, a good history of CoinPal....
Is any other way to verify? Huh   
Mahkul
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May 16, 2011, 09:51:00 PM
 #119

I want to verify my account, but I have no sucessful transactions in the previous version...., through Bitcoin-OTC account, a good history of CoinPal....
Is any other way to verify? Huh   

Just log in and select "other" option of verification. I will email you back with some suggestions. Thanks.

Bitalo.com coming soon!

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colossus
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May 16, 2011, 10:05:35 PM
 #120

On the verification page you don't have an option for transactions successfully made using your service previously.  Is there a reason for that or? 
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