BitFloor.com Rocks!

[DeathAndTaxes]

Did he email you to confirm your account info?  I sent an email 2-3 days back and haven't heard a peep...

Yes he did and quickly.  I would shoot him another email. 

[shtylman]

shtylman, How long does it take to get ACH setup? Do I have to email you for each withdraw I want to make? Or can I get ACH setup one time, then keep using it without having to email you each time?

On my account he set it up the same day.  You only need to send account info once.  There is no automated way to request a withdrawal you need to email support.  You don't need to send account info on each request though.  Low tech but it works and response time has been fantastic. 

I was concerned about security and asked for a public key to encrypt the account details.  He sent me his openSSL public key which I have no idea how to use.  I asked him if he could provide a PGP key instead and he did within minutes. 

TL/DR
shtylman is a pro!

Did he email you to confirm your account info?  I sent an email 2-3 days back and haven't heard a peep...

Sometimes I don't respond to the ACH setup request right away. This does not mean there was a problem. Since most requests just send the info but don't wish to withdraw any funds at the time I just setup the ACH and wait until a withdraw request is sent. Soon it will be clear from your online profile that ACH is setup and no follow-up email will be required

[shtylman]

Can you coordinate with BitInstant?

+1
This would bring way more volume to bitfloor

We will not be integrating with Bitinstant at this time. We feel that it is easier for our customers to deal directly with us instead of having to create accounts at various third party sites. This allows us to keep the fees down and the user experience around our exchange clearer and simpler.

[aq]

Can you coordinate with BitInstant?

+1
This would bring way more volume to bitfloor

We will not be integrating with Bitinstant at this time. We feel that it is easier for our customers to deal directly with us instead of having to create accounts at various third party sites. This allows us to keep the fees down and the user experience around our exchange clearer and simpler.

Hm, so will you start accepting mtgox codes, btc-e codes or bitstamp codes anytime soon, so that one can transfer funds in and out?
I would really like to use your exchange, but it seems that it is a US customers only club.
Regarding fees, look at bitstamp. You can use mtgox codes there, but they have a 2% fee. Doing the same using bitinstant the fee is only 0.89%. So it seems one can use bitinstant to actually get lower fees.
And BTW, for using bitinstant no account is necessary - just fill out the form - click send - done.

[rjk]

Can you coordinate with BitInstant?

+1
This would bring way more volume to bitfloor

We will not be integrating with Bitinstant at this time. We feel that it is easier for our customers to deal directly with us instead of having to create accounts at various third party sites. This allows us to keep the fees down and the user experience around our exchange clearer and simpler.

Bitinstant doesn't have any kind of accounts to sign up for, as far as I know. What you see on the website is what you get, and I hear they are planning to whitelabel their current deposit providers to make the process even simpler. Since they are US based as well, I wouldn't think that there would be too many hurdles to setting it up.

[shtylman]

We want to keep 3rd party financial dependence to a minimum to ensure timely withdraw and transactions for our users. Given all of the problems with USD withdraw on MtGox we will not be supporting codes from there as it would delay withdraw from our exchange.

At this time, the legal implications of supporting Bitinstant in our jurisdiction are not clear. To send USD from person to person (like MtGox USD-USD codes, and the way Bitinstant works at exchanges) we would need to be an MTB (Money Transmitting Business). This is different from and MSB and much more costly and restrictive. Until we understand how we can operate as such (or avoid being an MTB we cannot provide these services).

For customers wishing to deposit funds into Bitfloor, I suggest they look into our deposit options which include, cash, electronic p2p, and wire transfers. I think you will find that by fine tuning these we are able to provide a pleasant experience to account holders.

[nimda]

For customers wishing to deposit funds into Bitfloor, I suggest they look into our deposit options which include, cash, electronic p2p, and wire transfers. I think you will find that by fine tuning these we are able to provide a pleasant experience to account holders.

I'm not willing to drive to a Chase bank to deposit my cash; not if the nearest one is an hour's drive. Can you at least provide more cash deposit locations? BitInstant uses ZipZap, which uses MoneyGram, which is really easy and fast.

[mufa23]

Sometimes I don't respond to the ACH setup request right away. This does not mean there was a problem. Since most requests just send the info but don't wish to withdraw any funds at the time I just setup the ACH and wait until a withdraw request is sent. Soon it will be clear from your online profile that ACH is setup and no follow-up email will be required

Good to know! Yeah, I didn't request to withdraw, but just setup ACH. I'll make a withdraw later and give it a shot. Thanks!

[jwzguy]

We want to keep 3rd party financial dependence to a minimum to ensure timely withdraw and transactions for our users. Given all of the problems with USD withdraw on MtGox we will not be supporting codes from there as it would delay withdraw from our exchange.

At this time, the legal implications of supporting Bitinstant in our jurisdiction are not clear. To send USD from person to person (like MtGox USD-USD codes, and the way Bitinstant works at exchanges) we would need to be an MTB (Money Transmitting Business). This is different from and MSB and much more costly and restrictive. Until we understand how we can operate as such (or avoid being an MTB we cannot provide these services).

For customers wishing to deposit funds into Bitfloor, I suggest they look into our deposit options which include, cash, electronic p2p, and wire transfers. I think you will find that by fine tuning these we are able to provide a pleasant experience to account holders.

I'm very glad to hear this. Accepting MtGox codes seems very risky and I'd rather trade somewhere that's not taking that risk.

[SgtSpike]

shtylman, How long does it take to get ACH setup? Do I have to email you for each withdraw I want to make? Or can I get ACH setup one time, then keep using it without having to email you each time?

On my account he set it up the same day.  You only need to send account info once.  There is no automated way to request a withdrawal you need to email support.  You don't need to send account info on each request though.  Low tech but it works and response time has been fantastic. 

I was concerned about security and asked for a public key to encrypt the account details.  He sent me his openSSL public key which I have no idea how to use.  I asked him if he could provide a PGP key instead and he did within minutes. 

TL/DR
shtylman is a pro!

Did he email you to confirm your account info?  I sent an email 2-3 days back and haven't heard a peep...

Sometimes I don't respond to the ACH setup request right away. This does not mean there was a problem. Since most requests just send the info but don't wish to withdraw any funds at the time I just setup the ACH and wait until a withdraw request is sent. Soon it will be clear from your online profile that ACH is setup and no follow-up email will be required

It wasn't just a setup request though - I requested setup and withdrawal in the same email at the same time, still haven't heard anything back.

[shtylman]

shtylman, How long does it take to get ACH setup? Do I have to email you for each withdraw I want to make? Or can I get ACH setup one time, then keep using it without having to email you each time?

On my account he set it up the same day.  You only need to send account info once.  There is no automated way to request a withdrawal you need to email support.  You don't need to send account info on each request though.  Low tech but it works and response time has been fantastic. 

I was concerned about security and asked for a public key to encrypt the account details.  He sent me his openSSL public key which I have no idea how to use.  I asked him if he could provide a PGP key instead and he did within minutes. 

TL/DR
shtylman is a pro!

Did he email you to confirm your account info?  I sent an email 2-3 days back and haven't heard a peep...

Sometimes I don't respond to the ACH setup request right away. This does not mean there was a problem. Since most requests just send the info but don't wish to withdraw any funds at the time I just setup the ACH and wait until a withdraw request is sent. Soon it will be clear from your online profile that ACH is setup and no follow-up email will be required

It wasn't just a setup request though - I requested setup and withdrawal in the same email at the same time, still haven't heard anything back.

Please contact the support email if we haven't responded to you already. We respond when your ACH has been sent out and if your request was over the weekend it would only be processed today.

[Andrew Vorobyov]

Are you thinking about putting some arbitrage bot to fill your orders book? For example rates 2% away from MTGOX?

[shtylman]

Are you thinking about putting some arbitrage bot to fill your orders book? For example rates 2% away from MTGOX?

Currently I do not run automated traders or market makers on the exchange. My focus remains on ensuring the platform is operational and providing fast service and solid APIs for those that do wish to run trading bots.

[Andrew Vorobyov]

So ask someone... because your order book is "naked" and it's a pity that exchange capable of transacting shitloads of operations per second just in standby mode.

[rjk]

So ask someone... because your order book is "naked" and it's a pity that exchange capable of transacting shitloads of operations per second just in standby mode.

Go ahead and drop a bot on it if you are worried.

[shtylman]

So ask someone... because your order book is "naked" and it's a pity that exchange capable of transacting shitloads of operations per second just in standby mode.

Go ahead and drop a bot on it if you are worried.

I agree More bots are always welcome. My focus remains on my above stated goals. I feel that with the liquidity rebate and low fees we have a good structure for market makers and welcome all new users to try it out.

[Andrew Vorobyov]

So ask someone... because your order book is "naked" and it's a pity that exchange capable of transacting shitloads of operations per second just in standby mode.

Go ahead and drop a bot on it if you are worried.

Working on it... relax... soon you will hear good news

[DeathAndTaxes]

So ask someone... because your order book is "naked" and it's a pity that exchange capable of transacting shitloads of operations per second just in standby mode.

Go ahead and drop a bot on it if you are worried.

Working on it... relax... soon you will hear good news

I moved too slow guess I will have competition.

[Andrew Vorobyov]

So ask someone... because your order book is "naked" and it's a pity that exchange capable of transacting shitloads of operations per second just in standby mode.

Go ahead and drop a bot on it if you are worried.

Working on it... relax... soon you will hear good news

I moved too slow guess I will have competition.

Don't worry, we all want efficient markets here... there will be enough place for all of us

[coga]

I'd say - bot or not, someone please add some USD liquidity to bitfloor. It's a shame there's such a dismal depth on USD side.