Rouble crash didn't give a chance to Bitcoin?

[piramida]

... In fact, the russian exchange btc-e is one of the top exchanges in the world by volume...

Last I checked it was Bulgarian

No, it is not, don't believe everything you see on the internet. Russian ops, servers around the world, cyprus and bulgaria at one point but it definitely has nothing bulgarian in it.

[NotLambchop]

... In fact, the russian exchange btc-e is one of the top exchanges in the world by volume...

Last I checked it was Bulgarian

No, it is not, don't believe everything you see on the internet. Russian ops, servers around the world, cyprus and bulgaria at one point but it definitely has nothing bulgarian in it.

Is it even registered anywhere?  Can't find any info on the site.

[zyzzbrah]

OPEC wants to make shale oil economically unfeasible by retaining a high oil output, and that's what's primarily wrecking the ruble right now.

[magicmexican]

I think Bitcoin fans are humongously overestimating its position in the world at present.

Exactly, the amount of Russians who are aware of bitcoins is probably 0.01%<, and 80% of that 0.01 probably thinks its something like MMM

[Gianluca95]

The Rouble has fallen sharply against the dollar recently
but why this didn't call a strong buy in Bitcoin and bring the price up while the gold and oil are also going down?

A great quantity of people (russian people we say) think (in my honest opinion, naturally) that invest in gold, silver is a better way than Bitcoin and other cryptocurrencies, because it's true that Rouble lost 50% of its value in few time, but keep in mind that Bitcoin is dropping from 1100$ to 330$, I don't think that it is a good way to invest all of my money in bitcoin.

[piramida]

... In fact, the russian exchange btc-e is one of the top exchanges in the world by volume...

Last I checked it was Bulgarian

No, it is not, don't believe everything you see on the internet. Russian ops, servers around the world, cyprus and bulgaria at one point but it definitely has nothing bulgarian in it.

Is it even registered anywhere?  Can't find any info on the site.

No it's not, and they are trying hard to stay under radar. So it will be easier to run with the money later

The fact that they first announced on a russian sub-forum here in pure russian (here: https://bitcointalk.org/index.php?topic=29698.0) points to the origins, though; also the fact that most of their initial fiat I/O methods are only used in Russia/Ukraine.

[NotLambchop]

... In fact, the russian exchange btc-e is one of the top exchanges in the world by volume...

Last I checked it was Bulgarian

No, it is not, don't believe everything you see on the internet. Russian ops, servers around the world, cyprus and bulgaria at one point but it definitely has nothing bulgarian in it.

Is it even registered anywhere?  Can't find any info on the site.

No it's not, and they are trying hard to stay under radar. So it will be easier to run with the money later

The fact that they first announced on a russian sub-forum here in pure russian (here: https://bitcointalk.org/index.php?topic=29698.0) points to the origins, though; also the fact that most of their initial fiat I/O methods are only used in Russia/Ukraine.

Hi, just looked through the thread, you're most likely right.  OTOH, I'm a native Russian speaker (live in US now), so starting an exchange through .ru sub would be an interesting approach to staying off the radar for me (if I wanted to play Ukyo/TF/etc., etc.)

[Vessko]

... In fact, the russian exchange btc-e is one of the top exchanges in the world by volume...

Last I checked it was Bulgarian

No, it is not, don't believe everything you see on the internet. Russian ops, servers around the world, cyprus and bulgaria at one point but it definitely has nothing bulgarian in it.

The servers are hosted mostly in Bulgaria but it's definitely a Russian operation. (Maybe Ukrainian, although unlikely. But most definitely not a Bulgarian one.) The company is registered in Cyprus.

I hear that it ain't easy getting US dollars out of it, though.

[NotLambchop]

...The company is registered in Cyprus.
...

Any documentation? 

[faince222]

If I'm not wrong, Russia has banned Bitcoin from its country. Why actually Russia have to leave BAN and introduce bitcoin like the next currency? And then consider that Putin actually prefer gold to rouble 

[Vessko]

...The company is registered in Cyprus.
...

Any documentation?

From the terms and conditions of the site:

Jurisdiction

Laws in the country where the user resides may not allow the usage of an online tool with the characteristics of BTC-e or any of its features. BTC-e does not encourage the violation of any laws and cannot be held responsible for violation of such laws. For all legal purposes, these Terms of Use shall be governed by the laws applicable in the Cyprus. You agree and hereby submit to the exclusive personal jurisdiction and venue of the Cyprus for the resolution of any disputes arising from these Terms of Use.

This kind of language normally specifies the geographical location of the company's registration or headquarters; even when it is just a shell company. My guess is that it was easy to register a shell company in Cyprus and the Russians are well-known to have financial interests there.

[NotLambchop]

...The company is registered in Cyprus.
...

Any documentation?

From the terms and conditions of the site:

Jurisdiction

Laws in the country where the user resides may not allow the usage of an online tool with the characteristics of BTC-e or any of its features. BTC-e does not encourage the violation of any laws and cannot be held responsible for violation of such laws. For all legal purposes, these Terms of Use shall be governed by the laws applicable in the Cyprus. You agree and hereby submit to the exclusive personal jurisdiction and venue of the Cyprus for the resolution of any disputes arising from these Terms of Use.

This kind of language normally specifies the geographical location of the company's registration or headquarters; even when it is just a shell company. My guess is that it was easy to register a shell company in Cyprus and the Russians are well-known to have financial interests there.

No.  That kind of language specifies nothing other than that that kind of language was used.  If a shell company was registered in Cyprus, the name of that shell/shelf would be available on the website, as is the case with Havelock's Panamanian shelf.  Even a shell offers leads to investigators, hence no shell.
Stop believing everything you read on the interwebs.

TL;DR:  For all legal purposes, these Terms of Use this post shall be governed by the laws applicable in the Cyprus. You agree and hereby submit to the exclusive personal jurisdiction and venue of the Cyprus for the resolution of any disputes arising from these Terms of Use.

Am I doin it rite?

[Vessko]

No.  That kind of language specifies nothing other than that that kind of language was used.  If a shell company was registered in Cyprus, the name of that shell/shelf would be available on the website, as is the case with Havelock's Panamanian shelf.  Even a shell offers leads to investigators, hence no shell.
Stop believing everything you read on the interwebs.

There is no reason to pull the "Cyprus" name out of a hat when writing the terms and conditions. These things are written by lawyers and essentially mean "if you are going to sue us, you'd have to find a law in this particular jurisdiction that we have broken, because we legally reside (i.e., have headquarters or are registered) there".

Besides, Cyprus is the obvious choice when you want to register a shell company that does somewhat shady business. Gibraltar is another such place, but the Russians are well-known to have financial interests in Cyprus.

Also, I couldn't find a link right now, but there was some discussion about a prosecutor's office in Volgograd investigating the company (because Bitcoin was banned in Russia) and the admin of the exchange basically saying "we have nothing to worry about, we are registered in Cyprus and we aren't Russian citizens".

[picolo]

The rouble crash increased the Bitcoin value in rouble. If Russia doesn't react stupidly the rouble could recover against other currencies but Bitcoin will beat the rouble over years to come as it will be more adopted and it's market cap is likely to grow to tens of billions.

[NotLambchop]

No.  That kind of language specifies nothing other than that that kind of language was used.  If a shell company was registered in Cyprus, the name of that shell/shelf would be available on the website, as is the case with Havelock's Panamanian shelf.  Even a shell offers leads to investigators, hence no shell.
Stop believing everything you read on the interwebs.

There is no reason to pull the "Cyprus" name out of a hat when writing the terms and conditions. These things are written by lawyers and essentially mean "if you are going to sue us, you'd have to find a law in this particular jurisdiction that we have broken, because we legally reside (i.e., have headquarters or are registered) there".

Lol, "no reason to pull the "Cyprus" name out of a hat"?  It convinced you, did the job, so why not?
As far as "if you are going to sue us" goes, you need to know who "us" is before you can sue, and you don't

Re. "we aren't Russian citizens":  So they're not Russian citizens & purportedly registered in Cyprus...  What makes the exchange Russian again?

[piramida]

No.  That kind of language specifies nothing other than that that kind of language was used.  If a shell company was registered in Cyprus, the name of that shell/shelf would be available on the website, as is the case with Havelock's Panamanian shelf.  Even a shell offers leads to investigators, hence no shell.
Stop believing everything you read on the interwebs.

There is no reason to pull the "Cyprus" name out of a hat when writing the terms and conditions. These things are written by lawyers and essentially mean "if you are going to sue us, you'd have to find a law in this particular jurisdiction that we have broken, because we legally reside (i.e., have headquarters or are registered) there".

Lol, "no reason to pull the "Cyprus" name out of a hat"?  It convinced you, did the job, so why not?
As far as "if you are going to sue us" goes, you need to know who "us" is before you can sue, and you don't

Re. "we aren't Russian citizens":  So they're not Russian citizens & purportedly registered in Cyprus...  What makes the exchange Russian again?

They could be russians who've emigrated to Cyprus, or they could be bolivians who emigrated to Zimbabwe while pretending that they are russians who emigrated to Cyprus. There are many possibilities, but Occam suggests to pick the most obvious answer, which is - one of the Russia's (former) satellites, maybe Baltic states or Ukraine, if they actually are not citizens (which is just a statement with no proof).

And yeah, you are right - if they actually are registered on Cyprus, does not matter which country they come from, they will be "a cyprus exchange" since local law is all that matters.

[opossum]

No.  That kind of language specifies nothing other than that that kind of language was used.  If a shell company was registered in Cyprus, the name of that shell/shelf would be available on the website, as is the case with Havelock's Panamanian shelf.  Even a shell offers leads to investigators, hence no shell.
Stop believing everything you read on the interwebs.

There is no reason to pull the "Cyprus" name out of a hat when writing the terms and conditions. These things are written by lawyers and essentially mean "if you are going to sue us, you'd have to find a law in this particular jurisdiction that we have broken, because we legally reside (i.e., have headquarters or are registered) there".

Besides, Cyprus is the obvious choice when you want to register a shell company that does somewhat shady business. Gibraltar is another such place, but the Russians are well-known to have financial interests in Cyprus.

Also, I couldn't find a link right now, but there was some discussion about a prosecutor's office in Volgograd investigating the company (because Bitcoin was banned in Russia) and the admin of the exchange basically saying "we have nothing to worry about, we are registered in Cyprus and we aren't Russian citizens".

The reason would be that they are trying to misdirect governments and others who are trying to dissertation the identity of the operators/owners of btc-e.

[piramida]

No.  That kind of language specifies nothing other than that that kind of language was used.  If a shell company was registered in Cyprus, the name of that shell/shelf would be available on the website, as is the case with Havelock's Panamanian shelf.  Even a shell offers leads to investigators, hence no shell.
Stop believing everything you read on the interwebs.

There is no reason to pull the "Cyprus" name out of a hat when writing the terms and conditions. These things are written by lawyers and essentially mean "if you are going to sue us, you'd have to find a law in this particular jurisdiction that we have broken, because we legally reside (i.e., have headquarters or are registered) there".

Besides, Cyprus is the obvious choice when you want to register a shell company that does somewhat shady business. Gibraltar is another such place, but the Russians are well-known to have financial interests in Cyprus.

Also, I couldn't find a link right now, but there was some discussion about a prosecutor's office in Volgograd investigating the company (because Bitcoin was banned in Russia) and the admin of the exchange basically saying "we have nothing to worry about, we are registered in Cyprus and we aren't Russian citizens".

The reason would be that they are trying to misdirect governments and others who are trying to dissertation the identity of the operators/owners of btc-e.

Most probably not governments, as it is fairly trivial to get a warrant and the information from the bank that they use for wire transfers. I guess they don't want individuals to know; that sort of income can surely attract attention especially in eastern europe.

[Vessko]

Lol, "no reason to pull the "Cyprus" name out of a hat"?  It convinced you, did the job, so why not?
As far as "if you are going to sue us" goes, you need to know who "us" is before you can sue, and you don't

Such wild conspiracies are simply unnecessary. They have considerable monetary operations. They work with banks. They have to have a registered company, or no bank will work with them. Registering a shell company in Cyprus is easy, especially for a Russian businessman. There is simply no point in lying about it. There are other means to preserve their anonymity while conforming to acceptable business practices.

Re. "we aren't Russian citizens":  So they're not Russian citizens & purportedly registered in Cyprus...  What makes the exchange Russian again?

Oh, they are Russians. (Could be Ukrainians, although much less likely.) Definitely native Russian speakers. They just aren't Russian citizens, or at least have stated that they aren't. The statement from them that I remember was "although we currently reside in Russia, we aren't Russian citizens" or something like that. My guess is that they have obtained a citizenship from another country and have renounced their Russian citizenship.

There is a reason why the prosecutor's office in Volgograd (Russia) was investigating this particular exchange and not one of the Chinese ones, don't you think so? Determining who they are and where their company is registered wouldn't be a problem for the Russian law enforcement. But the reaction of the admins wasn't "you can't find us"; it was "we aren't in your jurisdiction - servers are in Bulgaria, company is registered in Cyprus, we aren't Russian citizens".

[NotLambchop]

Lol, "no reason to pull the "Cyprus" name out of a hat"?  It convinced you, did the job, so why not?
As far as "if you are going to sue us" goes, you need to know who "us" is before you can sue, and you don't

Such wild conspiracies are simply unnecessary. They have considerable monetary operations. They work with banks. They have to have a registered company, or no bank will work with them. Registering a shell company in Cyprus is easy, especially for a Russian businessman. There is simply no point in lying about it. There are other means to preserve their anonymity while conforming to acceptable business practices.

You sound as certain & use the same logic as the intrepid NeoBee investors did when I questioned the integrity of Mr. Danny Brewster (see pic).  
If I'm being too subtle, I'll spell it out:  
1.  A financial institution unwilling to offer the bare rudiments of corporate information, such as address, business registration, and names of the key players likely has a reason for doing so.
2.  Registering a company in Cyprus is trivial, registering an exchange is not.  If BTC-e is registered as a bakery, that's not what most would consider sufficient.
  2(a).  If BTC-e is registered, and has not provided the registration to its clients, why?
3.  Regardless, not registering a company is easier still, especially when one wishes to obscure the names of the key players.
4.  Registering a shell requires a name.  Even when said name belongs to some carder degenerate willing to lend it for a nominal sum.  Such people are easy to flip when shit gets real.
5.  Assuming that an anonymous Bitcoin financial institution will hang around when things go wrong, or when it becomes more profitable to walk with the money, is the stuff bitcointalk legends are made of.

TL;DR:  This is certainly going to end well.

Re. "we aren't Russian citizens":  So they're not Russian citizens & purportedly registered in Cyprus...  What makes the exchange Russian again?

Oh, they are Russians. (Could be Ukrainians, although much less likely.) Definitely native Russian speakers. They just aren't Russian citizens, or at least have stated that they aren't. The statement from them that I remember was "although we currently reside in Russia, we aren't Russian citizens" or something like that. My guess is that they have obtained a citizenship from another country and have renounced their Russian citizenship.

If the people running this thing are not Russian citizens, do not reside in Russia, and the business is [purportedly] registered in Cyprus, what makes it a Russian business again?
I'm a native Russian speaker, BTW.  Haven't set foot in the place in years.

There is a reason why the prosecutor's office in Volgograd (Russia) was investigating this particular exchange and not one of the Chinese ones, don't you think so? Determining who they are and where their company is registered wouldn't be a problem for the Russian law enforcement. ...

Perhaps.  How long ago was this d00d caught again, I seem to draw a blank?



And everyone knew his name, he was the golden boy of Bitcoin, he was in all the papers & shit...