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hayabusa911 (OP)
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November 11, 2014, 04:17:42 PM |
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How safe do you guys feel keeping your coins on Bter? I like having control over the security of my coins and can't help but feel a little anxiety when trusting this site with any large amount of money. Can I trust this site to keep my coins secure over a long time period?
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"I'm sure that in 20 years there will either be very large transaction volume or no volume." -- Satoshi
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Advertised sites are not endorsed by the Bitcoin Forum. They may be unsafe, untrustworthy, or illegal in your jurisdiction.
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devphp
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November 11, 2014, 04:34:33 PM |
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You shouldn't trust ANY centralized exchange to store your coins, none of them. If you do, you're asking for trouble. Having said that, Bter is ok for trading, so far haven't had any issues with them that weren't resolved in a timely manner, which has been a pleasant experience compared to some others *cough* Cryptsy *cough*.
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maurya78
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November 11, 2014, 04:37:42 PM |
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I wouldn't trust my coins with any third party. That's the whole point of btc that you take personal responsibility for your assets.
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1Referee
Legendary
 Offline
Activity: 2170
Merit: 1427
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November 11, 2014, 04:40:47 PM |
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How safe do you guys feel keeping your coins on Bter? I like having control over the security of my coins and can't help but feel a little anxiety when trusting this site with any large amount of money. Can I trust this site to keep my coins secure over a long time period?
Better keep your coins in your offline wallet till you need them. It also depends on what kind of trader you are. If you're a daytrader then I can understand that you keep your coins there for a longer time. If not, can you tell us why you would keep your coins there for a long period? |
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hayabusa911 (OP)
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November 11, 2014, 04:45:13 PM |
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How safe do you guys feel keeping your coins on Bter? I like having control over the security of my coins and can't help but feel a little anxiety when trusting this site with any large amount of money. Can I trust this site to keep my coins secure over a long time period?
Better keep your coins in your offline wallet till you need them. It also depends on what kind of trader you are. If you're a daytrader then I can understand that you keep your coins there for a longer time. If not, can you tell us why you would keep your coins there for a long period? Yep, for trading. That's the only reason anyone would use them... I hope!  |
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1Referee
Legendary
Offline
Activity: 2170
Merit: 1427
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November 11, 2014, 04:52:24 PM |
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How safe do you guys feel keeping your coins on Bter? I like having control over the security of my coins and can't help but feel a little anxiety when trusting this site with any large amount of money. Can I trust this site to keep my coins secure over a long time period?
Better keep your coins in your offline wallet till you need them. It also depends on what kind of trader you are. If you're a daytrader then I can understand that you keep your coins there for a longer time. If not, can you tell us why you would keep your coins there for a long period? Yep, for trading. That's the only reason anyone would use them... I hope! Nothing wrong with Bter as exchange, good luck with your trading. Well, I hope people will use them also for buying goods. Would definitely help a lot |
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MadGamer
Legendary
Offline
Activity: 1568
Merit: 1031
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November 11, 2014, 05:01:29 PM |
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You shouldn't trust anything "Online" to keep your coins mate.
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deluxeCITY
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November 11, 2014, 05:08:45 PM |
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How safe do you guys feel keeping your coins on Bter? I like having control over the security of my coins and can't help but feel a little anxiety when trusting this site with any large amount of money. Can I trust this site to keep my coins secure over a long time period?
Better keep your coins in your offline wallet till you need them. It also depends on what kind of trader you are. If you're a daytrader then I can understand that you keep your coins there for a longer time. If not, can you tell us why you would keep your coins there for a long period? Yep, for trading. That's the only reason anyone would use them... I hope! It would probably be better to use a site like bitfinex if you want to keep a large amount of money on an exchange for trading. Bitfinex allows for margin trading so you could deposit only a portion of the amount you wish to risk at the exchange (and the rest in cold storage) that way if they end up getting "hacked" you will only lose access to the fraction of your money that you deposited there. |
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hayabusa911 (OP)
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November 11, 2014, 05:13:22 PM |
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Thanks for the advice guys! I guess I'm asking questions I already know the answers to. I'm going to use them for a while and see how things go and I would never trust them with more than I'm willing to lose. You know... "hackers"  |
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Crypto_Kirito
Newbie
Offline
Activity: 5
Merit: 0
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November 11, 2014, 05:18:48 PM |
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I'm totally new to this and rather paranoid, but surely the "not putting your eggs in one basket" approach is the best. With bitcoin or real money there always exists the chance of something going wrong. To me bitcoins on an exchange hold a greater risk or being stolen or whatnot, but it's a functional risk. That being said, I'm sure you're not the only one with a large amount of money on BTER.
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Mowcore
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November 11, 2014, 05:32:55 PM |
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Every time I had a problem with BTER and emailed support, they sorted my problem out. One occasion took a few days longer than I hoped for though. I never stored anything on there longer than I needed to though!
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✰Humble Weekly Bundle.✰Pay What You Want. Redeem on Steam. Support charity. Pay with BTCitcoin now!✰--> Paypal 
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Loophole
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November 11, 2014, 06:19:54 PM |
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How safe do you guys feel keeping your coins on Bter? I like having control over the security of my coins and can't help but feel a little anxiety when trusting this site with any large amount of money. Can I trust this site to keep my coins secure over a long time period?
Unless you need to make a trade very soon, otherwise I would suggest you to never keep your coins on an exchange or any places that you don't have the private keys. |
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cr1776
Legendary
Offline
Activity: 4032
Merit: 1299
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November 11, 2014, 06:22:38 PM |
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How safe do you guys feel keeping your coins on Bter? I like having control over the security of my coins and can't help but feel a little anxiety when trusting this site with any large amount of money. Can I trust this site to keep my coins secure over a long time period?
I would advise never keeping your coins with a third party. Use cold storage. But make sure you do it properly. Remember, if you don't have the private keys, you don't have the coins, you just have a book entry in your name at some third party web site. |
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david wilson
Newbie
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Activity: 26
Merit: 0
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November 11, 2014, 06:39:03 PM |
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I don't think, we should don't keep our bitcoins longer on wallet without any need.
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WestHarrison
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November 11, 2014, 07:17:39 PM |
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I don't trust any exchange with my coins. I only use them and then immediately take my bitcoins out whenever it is possible.
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BorderBits
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November 11, 2014, 07:24:12 PM |
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Seeing as how every bitcoin "business" is either a scam or gets shut down due to violating numerous laws... yeah, trust it, after all, you can simply call your financial institution and have transactions reversed when you get scammed.. oh.. never mind.
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UsernameBitcoin
Sr. Member
Offline
Activity: 530
Merit: 250
CryptoTalk.Org - Get Paid for every Post!
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November 11, 2014, 07:56:12 PM |
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never had any problems with them
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Piston Honda
Legendary
Offline
Activity: 2702
Merit: 1064
Juicin' crypto
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November 11, 2014, 08:30:38 PM |
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never had any problems with them
same here |
$ADK ~ watch & learn...
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InMyselfITrust
Newbie
Offline
Activity: 3
Merit: 0
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November 11, 2014, 08:33:22 PM |
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Even though they have had positive reviews always look after your own money...inmyselfitrust  |
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Ron~Popeil
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November 11, 2014, 09:55:43 PM |
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Cold storage is by far the most secure. If you are a trader you will inevitably keep some online while trading but it would be wise to withdrawal when you are done trading even if deposit and confirm times are inconvenient.
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gentlemand
Legendary
Offline
Activity: 2590
Merit: 3013
Welt Am Draht
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November 11, 2014, 10:14:34 PM |
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Great site. I've never had any problems with them. The same caveats apply everywhere but they've shown some class in difficult situations.
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cafucafucafu
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November 11, 2014, 10:19:38 PM |
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This site is a dodgy.
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FUR11
Sr. Member
Offline
Activity: 378
Merit: 250
FURring bitcoin up since 1762
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November 11, 2014, 11:08:47 PM |
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You shouldn't trust ANY centralized exchange to store your coins, none of them. If you do, you're asking for trouble. Having said that, Bter is ok for trading, so far haven't had any issues with them that weren't resolved in a timely manner, which has been a pleasant experience compared to some others *cough* Cryptsy *cough*.
Thing is, you *effectively* still need somewhat centralized exchanges as of now. And I guess we'll be stuck with them for the time being. And I gotta say: I prefer a rather trustworthy centralized exchange to some half-baked decentralized solution no one knows how to use! |
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deluxeCITY
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November 11, 2014, 11:20:19 PM |
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How safe do you guys feel keeping your coins on Bter? I like having control over the security of my coins and can't help but feel a little anxiety when trusting this site with any large amount of money. Can I trust this site to keep my coins secure over a long time period?
Unless you need to make a trade very soon, otherwise I would suggest you to never keep your coins on an exchange or any places that you don't have the private keys. I get the impression that the OP wants to attempt to profit from trading bitcoin at the Bter, not simply make one trade and withdraw. @all the people who are spamming and saying to use cold storage - I would suggest reading the thread in it's entirety as the OP is not wanting to use the exchange as a bank |
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kokojie
Legendary
Offline
Activity: 1806
Merit: 1003
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November 11, 2014, 11:41:15 PM |
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For trading, BTER is about the best you could find. Though you should look else where if you are trying to trade the BTC/USD pair.
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btc: 15sFnThw58hiGHYXyUAasgfauifTEB1ZF6
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as4406
Newbie
Offline
Activity: 32
Merit: 0
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November 12, 2014, 03:46:35 AM |
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You can't trust those centralized exchange to store your coins, none of them. it's not safe.
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tzortz
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November 12, 2014, 05:33:03 AM |
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Why dont you trust cold storage instead?
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All is Mine!
1H7LUdfx9AFTMSXPsCBror3RDk57zgnc2R
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devphp
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November 12, 2014, 07:15:41 AM |
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You shouldn't trust ANY centralized exchange to store your coins, none of them. If you do, you're asking for trouble. Having said that, Bter is ok for trading, so far haven't had any issues with them that weren't resolved in a timely manner, which has been a pleasant experience compared to some others *cough* Cryptsy *cough*.
Thing is, you *effectively* still need somewhat centralized exchanges as of now. And I guess we'll be stuck with them for the time being. And I gotta say: I prefer a rather trustworthy centralized exchange to some half-baked decentralized solution no one knows how to use! You need them to make trades, but you don't need them to store coins. Try to limit the time the coins stay at any centralized platform to a few hours at the longest and there is at least a 90% chance you won't lose them due to frauds and scams. |
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Zhan21
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November 12, 2014, 07:27:08 AM |
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Bter run for a long time. It is located in China, now it seems there is no problem. It is recommended not to put a lot of money for too long on the trading site.
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ScreamnShout
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November 12, 2014, 07:31:21 AM |
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For trading, BTER is about the best you could find. Though you should look else where if you are trying to trade the BTC/USD pair.
Alt coin trading is a suckers game as the value of altcoins will decrease over the long term and alt coins traders will ultimately end up holding the bag. |
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TinaK
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November 12, 2014, 08:39:17 AM |
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Firstly, do you trust BTC-e? if it is, then this is.
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Cryptozillah
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November 12, 2014, 10:15:38 AM |
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Exchanges are not online wallets. You could use them that way if you are willing to risk being goxxed.
But after booth gox and mintpal fiasco people should have learned by now ?
If you are a daytrader and need to keep the coins for longer periods i suggest you to take the profits out of the exchange from day to day and just leaving the "playmoney" on there.
Put all the coins you are not using in coldstorage.
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jabo38
Legendary
Offline
Activity: 1232
Merit: 1001
mining is so 2012-2013
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November 12, 2014, 10:17:47 AM |
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I have had two problems with BTER and both times the help support was on top of it. It is my go to exchange these days, but that said, I still don't trust them enough to keep my coins on there for a long amount of time. I go in, trade, and get out all in the same day.
Some people might think I am silly, but I use Coinbase's vault for my long term storage of bitcoin. I use the vault where I have the keys, so Coinbase couldn't lose or steal them even if they wanted. For a hacker to compromise my end, the hacker would have to get my password, get my 2FA that is only on my phone, then get my vault password. Then the hacker would have to compromise two different email accounts, and have full possession of my phone because even after I make the transaction there is 48 waiting period before the coins are moved and during that time I am sent repeated text messages and emails to the two different accounts asking me if I want to cancel. If I do, it is just a single click.
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Suarez
Newbie
Offline
Activity: 16
Merit: 0
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November 12, 2014, 10:46:01 AM |
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I wouldn't trust any exchange after Mintpal incident.
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8btc
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November 12, 2014, 02:43:26 PM |
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It is located in China, now it seems there is no problem. It is recommended not to put a lot of money for too long on the trading site.
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We are looking for some really nice coins,Tell me if you want a further promotion on : http://8btc.com The most famous Bitcoin and altcoin community in China！Join us ,Talk about Bitcoin or your coin,QQ Group:368826530 QQ:1771376738 |
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mullerdan
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November 12, 2014, 03:02:55 PM |
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Its not the better I think.
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Picasso7
Member
Offline
Activity: 76
Merit: 10
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February 15, 2015, 01:29:48 PM |
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whats with bter, the web is not functioned
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deluxeCITY
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February 15, 2015, 01:58:19 PM |
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whats with bter, the web is not functioned
They have ran with our BTC lol that is what has happened, how many pages back did you go to find this? So you already know what has happened you are a bad man |
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rich93
Full Member
Offline
Activity: 595
Merit: 101
Chromia - Relational Blockchain
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February 15, 2015, 02:05:06 PM |
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whats with bter, the web is not functioned
They have ran with our BTC lol that is what has happened, how many pages back did you go to find this? So you already know what has happened you are a bad man There is a thread about it. All we know is they are offline for a security check and they say more details wil follow. People here are speculating if its been hacked, but nobody knows for sure yet. https://bitcointalk.org/index.php?topic=956539.0 |
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