BitMarket.Eu has closed down

[kneim]

I am a merchant for Gold and Silver (see my signature), so obviously if I cannot liquidate a sale to restock, this badly hurts me.
I am a believer in bitcoin, but I see it as a ways of MOVING money, not as an investment vehicle.

It's clear to have redundance in money payment or exchanges in your case. I'm sure you know about the many issues with trading platforms or money services (PayPal, OkPay, Dwolla, moneybookers). Had enough issues myself.

[1714930507]

1714930507

[owowo]

Why do I get a blank site when accessing bitmarket.eu?

[kneim]

Why do I get a blank site when accessing bitmarket.eu?

I also get a blank site now. Yesterday it worked yet. Please ask the support of them. I wanted to set limit buy orders yesterday, but they have cancelled this functionality. It's like driving a car with three wheels.

Announcement to stop limit buy orders: https://bitcointalk.org/index.php?topic=5441.msg819883#msg819883

[kosovito]

Whats going on, even an apologize message??

EDIT: just 10 minutes later web is up again.....

[Mahkul]

Hi guys,

Sorry about this. I just got an email from our hosting provider that they had an emergency power outage which caused their server rack to go down for 45 mins. Apologies for this.

[Mahkul]

Hey,

We have just put the website into maintenance mode. We are just renewing our SSL cert on the webserver and performing backups after the outage. The site should be back up wthin 1-2 hours. I will post again once we are finished.

Thanks for your patience and understanding.

[M4v3R]

two weeks ago someone put in a buy order of 99999999 BTC at 5€ and cleared the whole orderbook.

The current system doesn't solve that at all.

It does. New users cannot have more than 3 open transactions. So it's impossible to clear the whole orderbook now.

[Mahkul]

The site is back up now. Again, thanks for your patience everyone.

[BTCurious]

two weeks ago someone put in a buy order of 99999999 BTC at 5€ and cleared the whole orderbook.

The current system doesn't solve that at all.

It does. New users cannot have more than 3 open transactions. So it's impossible to clear the whole orderbook now.

Ah okay. My main point was that that's something different from discarding the buy limit orders; that has nothing to do with the issue 2weiX mentioned.

[2weiX]

On another note - are any of you responsible for the Android Widget?
Might want to adapt to the changes.

[M4v3R]

On another note - are any of you responsible for the Android Widget?
Might want to adapt to the changes.

Nope, we aren't. As a matter of fact, I didn't even knew it existed .

[sonba]

M4v3r, Mahkul,

I agree with some of the other messages - I think you are killing your exchange with your newest measure of taking bids out, which I think would be a pitty since I've been using it quite a lot.
I think there are some easy measures on how to make it safer for buyers and sellers that should be adopted, instead. Some have been already mentioned here.

1. The first one and IMHO most important one is to display user names on the trades and allow to choose a certain trader. This way, people can buy with the honest people and don't buy/sell to a scammer. It would also be beneficial to see how many successful trades the person had, so newbies can feel safe and trust someone who already has a lot of trades. In a first step you can still leave auto matching on but at least display the nicknames.
2. I like the confirmation system bitcoin.de uses. If a trade does not get confirmed it gets deleted after 24 hours. This helps in avoiding having a trade open for 3 weeks without it being cancelled and having the BTC lying around idle...

In principle, this is pretty much the same as has been asked beforehand:

I've considered suggesting that you could identify the seller or buyer before completing a trade.
I've been contacted repeatedly if/when I was selling again.
I think having your username displayed in the market would help a LOT, a feedback thread could be established on bitcointalk.

also: support needs to act quicker. if a seller wants to cancel a trade and the buyer cannot submit a photo/scan of his bank account and a receipt of movement of the money within 48h, sales get cancelled.

[M4v3R]

We may reconsider to re-implement limit buy orders, but at this moment, it's the best measure we can get to protect the sellers from not paying buyers, before we complete other changes. We're very open to feedback and should this decision be not well received, we'll take it back.

[2weiX]

We may reconsider to re-implement limit buy orders, but at this moment, it's the best measure we can get to protect the sellers from not paying buyers, before we complete other changes. We're very open to feedback and should this decision be not well received, we'll take it back.

some ideas:

- only members with > 3 transactions may enter buy orders > 5BTC (10 transactions for > 20 BTC etc etc)
- show the usernames (which would of course mean that you should differentiate between login and username!)
- give sellers a checkbox "match offer against buy orders yes/no"

[Stephen Gornick]

We're very open to feedback and should this decision be not well received, we'll take it back.

You might instead (or as an opt-in alternative) consider a BTC deposit to act as an incentive to the buyer to follow through promptly.   If the buy isn't completed within 24 hours or something like that then assess a fee against the deposit.  Just needs to be enough to suffer a penalty that is greater than the gain made from backing out.

[M4v3R]

We're very open to feedback and should this decision be not well received, we'll take it back.

You might instead (or as an opt-in alternative) consider a BTC deposit to act as an incentive to the buyer to follow through promptly.   If the buy isn't completed within 24 hours or something like that then assess a fee against the deposit.  Just needs to be enough to suffer a penalty that is greater than the gain made from backing out.

I'm afraid that won't work good, because many of our buyers are first time buyers, without any Bitcoins, so they don't have anything to deposit...

[M4v3R]

- show the usernames (which would of course mean that you should differentiate between login and username!)

What do you mean by "you should differentiate between login and username"? Is showing username considered a bad practice?

[2weiX]

- show the usernames (which would of course mean that you should differentiate between login and username!)

What do you mean by "you should differentiate between login and username"? Is showing username considered a bad practice?

having login name be equal to the username increases the chances of any account being hacked, since half the credentials are now known, only the password must be guessed.

looking through the forum for very active Sellers usernames, much?
they should have plenty of BTC!

if you decide to show usernames, you should thus require a login name different from the username.

[EuSouBitcoin]

If you are worried about an account being hacked, two-factor authentication is a good safeguard. For example, Bitcoinica uses Google Authenticator as an optional two-factor authentication method that works very well IMHO.

[HostFat]

In italy we are used to use "Postepay" as method to pay services/things.
It's a card from the postal service.
The good thing we are able to recharge other people's card without passing through paypal/visa/mastercard circuits.
I was going to ask you to add this method to pay bitcoin on your service, but now I have a better idea!

Tags!
I think that every country has its good/best method to send money between people ( as I said in italy we have Postepay )
I know that it's a boring stuff asking everyone which is his own best method, and then adding it on your service.
So this is my idea:

You should add an option to add tags to every offers and the possibility to search tags.
If you add this, this will be the result, example:

I'm the seller
I put my offer and I want to say to others that I'm going to accept "postepay".
I'll search to see if others have already used postepay as tag, so I'll search "poste". I'll get these results:
postepay(152),poste-pay(2),poste pay(6)
So now I'm going to add the "postepay" tag ( because I saw that it's the most common tag used on your services )

I'm the buyer
I only have postepay card, and I want to buy bitcoins.
I'll open bitmarket and I'll search "poste".
I'll get the same results but with checkboxes.
postepay(152)[ ],poste-pay(2)[ ],poste pay(6)[ ]

If I want to see only the offers of the first 2 tags, I'll check only them.
postepay(152)[X],poste-pay(2)[X],poste pay(6)[ ]
So I'll get 154 results and I'll chose the best one.

You should also add the possibility to safe some tags-search, so I'll be able to see then the next time with only one click.


If you add this tags feature, you will be able to accept every possible cards/services all over the world!
It will work completely without any other implementations. People will add new methods by their own

Users must be able to add more tags to the same offer. ( you can put a limit of 2/3 tags ... )
If they want to use other services they will only need to open other offers as they do now.

What do you think about it?