justcoin closes

justcoin closes forever

From there e-mail to users:

Quote

Dear Justcoin user,

Deposits are closed. Trading will close tomorrow, October 29th. We urge all users to withdraw their funds as soon as possible. Final deadline for withdrawals is November 11th. You may find useful information on wallets at https://bitcoin.org/en/choose-your-wallet.

Please allow up to 24 hours for your withdrawals to process. We will manually batch withdrawals of all currencies. Cancelling a requested withdrawal will put you in the back of the line.

Justcoin is shutting down all operations. Our bank has notified us that it will no longer accept businesses dealing with digital currencies. The same goes for other Norwegian banks. Without a bank account we have no business and need to shut down. This event demonstrates the need for decentralized payment networks.

If you need help or have problems with the withdrawal process please contact support@justcoin.com. We want to thank all our loyal customers for their support and wish you all the best.

Thank you,

Klaus & Andreas, founders.

its bad to hear about this
hope they will allow all users to withdraw their fund and make it a fair shutdown

btw whats happening to crypto exchanges
MTgox -> cryptorush -> mintpal -> Justcoin

Not exactly unexpected. But nonetheless sad for us loyal Justcoin users.
This won't be a major blow to BTC price though, since it was a small exchange in the grand scheme of things.

So, which exchange will be next? Anyone care to guess?

Never heard of justcoin, how was their volume? I don't really get why people would use sketchy exchanges rather than the big known ones.

i dont know of anyone that was using it. nevertheless, this sucks for those that apparently were.

Well that's sad , I may have not a big experience on digital currencies exchanges etc. but justcoin was a good website & I remember using it first time Stellar showed up to trade my stellar's to bitcoin Cry

I'm not familiar with justcoin. But the bank thing sounds bit like an excuse. If the business was doing well, why not moving to a bitcoin-friendly country, such as UK, or simply use a foreign bank?

Apparently "Justcoin also suffered a Ripple hack earlier this month after a Ripple feature was improperly implemented by the exchange" (source below). Wonder had this anything to do with their decision to shut down...

Is there any other source to confirm the 'Norwegian banks ban cryptos' revelations?

Some coverage here:

https://www.cryptocoinsnews.com/norwegian-banks-say-bitcoin-businesses-justcoin-exchange-closes/

Ashamed to hear they have to close down due to the termination of cooperation by the bank.

Who is the developer of this coin? Is it dooglus?

Surprised to hear about justcoin. I was registered last month or so and used it for a stellar transaction. I guess it wouldn't make much impact as it wasn't so popular within bitcoin people, may be for some ripple or stellar users.

it happens because not give giveaway again stellar, and users justcoin mostly stellar hunter: D

Just another proof that bitcoin is the only coin which is going to last. Bitcoin rules.

Quote from: grumpyoldtroll on October 29, 2014, 06:05:38 AM

Who is the developer of this coin? Is it dooglus?

Quote from: bornil267645 on October 29, 2014, 08:40:12 AM

Just another proof that bitcoin is the only coin which is going to last. Bitcoin rules.

Justcoin wasn't an altcoin, it was an exchange.

It's a good custom to briefly read the posts in the thread before replying.

it was a really good place to buy/sell bitcoins for nordic people but open for anyone

Quote

Dear Justcoin user,

Deposits are closed. Trading will close tomorrow, October 29th. We urge all users to withdraw their funds as soon as possible. Final deadline for withdrawals is November 11th. You may find useful information on wallets at https://bitcoin.org/en/choose-your-wallet.

Please allow up to 24 hours for your withdrawals to process. We will manually batch withdrawals of all currencies. Cancelling a requested withdrawal will put you in the back of the line.

Justcoin is shutting down all operations. Our bank has notified us that it will no longer accept businesses dealing with digital currencies. The same goes for other Norwegian banks. Without a bank account we have no business and need to shut down. This event demonstrates the need for decentralized payment networks.

If you need help or have problems with the withdrawal process please contact support@justcoin.com. We want to thank all our loyal customers for their support and wish you all the best.

Thank you,

Klaus & Andreas, founders.

What do they mean by final deadline? What happens after this?

never heard of it, hope everyone can withdraw it!

An orderly shut down is kind of a rare thing anymore. Kudos to them for handling it so openly and honestly. It is sad that this is usually the exception.

Quote from: grumpyoldtroll on October 29, 2014, 06:05:38 AM

Who is the developer of this coin? Is it dooglus?

If I recall correctly ...

I think Doog just knew the dude who ran it because the dude who ran it used to run a BTC gaming place that had video poker or something.

I have the Justcoin dude on my Skype for some reason. Must have been from JD chat.