BitStamp - Bank Blocks USD Deposits

[hennessyhemp]

Bitstamp has weathered some storms, so I wouldn't write them off just yet...where one stodgy old banker closes a door, a younger slicker smaller bank says c'mon down, we'll be happy to take your money...green is green.

In fact, small banks that truly "get it" are going to start realizing they would be better off using bitcoin to transfer funds between their own banks than the overly costly systems we have now (like ACH).

[1715284791]

1715284791

[oda.krell]

Some of you guys are hilarious.

How is Bitstamp having trouble getting money *in* from the US any indication that they (the exchange) are "going the way of mtgox"?

Sure, it sucks. But bank transfers being blocked for deposits is hardly the sign of an illiquid exchange. In fact, one of the things that worked on gox until the very end was sending money *in*

[mayax]

Bitstamp has weathered some storms, so I wouldn't write them off just yet...where one stodgy old banker closes a door, a younger slicker smaller bank says c'mon down, we'll be happy to take your money...green is green.

In fact, small banks that truly "get it" are going to start realizing they would be better off using bitcoin to transfer funds between their own banks than the overly costly systems we have now (like ACH).

it is very hard to open a bank account for BTC exchanges.

[Newar]

BTCe FTW?

The intermediary bank of my bank refused sending money to BTCe since August last year.

[Madness]

It seems that Bitstamp has problems with its USD bank account. They no longer receive USD. All the USD payments are locked for now.

http://insidebitcoins.com/news/bank-blocks-bitstamp-usd-deposits/29681

Bitsmap is getting down eventually . First hacked .. THey implented Multisig security , now Bank blocks USD Deposits , wondering what's going to happen next . I hope people don't ignore this warning and know when to get their money and simply walk away.
Exchangers are defeating the whole purpose of Bitcoin to be honest , I mean ... They need ID's , Residental adress , Passport . RIP being Annonymus . If someone want  to trade his BTC for USD or Euro or any other currency he simply do that in forums (with trusted members)

~ Madness

[mayax]

BTCe FTW?

The intermediary bank of my bank refused sending money to BTCe since August last year.

Are you sending the wire to BTc or to their payment processor bank account?

[Newar]

BTCe FTW?

The intermediary bank of my bank refused sending money to BTCe since August last year.

Are you sending the wire to BTc or to their payment processor bank account?

Last time I checked BTCe had no bank account listed themselves. I always sent to Mayzus (sp?).

[mayax]

BTCe FTW?

The intermediary bank of my bank refused sending money to BTCe since August last year.

Are you sending the wire to BTc or to their payment processor bank account?

Last time I checked BTCe had no bank account listed themselves. I always sent to Mayzus (sp?).

so, Maysuz bank account has issues...

[BTCreward]

If solvency is your concern I would pay more attention to the withdraw side. 

we will see many withdrawals from Bitstamp on Monday...

Not true.  People get fucked, then they get fucked again.  It is like lambs going to slaughter.  They never learn.  Nearly everyone will be sitting there thinking: 'this time, everything will be OK  -  right?'  And the next moment all their money is gone.  Don't you remember how many warnings there were for Gox?  Nobody moved.

They were 'too big to fail'.

What are you talking about

In order for something to be "too big to fail" someone needs to step in to prevent them from failing aka bail them out. The fact that there is no governing authority with bitcoin means that there is no one to bail out any "too big to fail" exchange

[tins]

If solvency is your concern I would pay more attention to the withdraw side. 

we will see many withdrawals from Bitstamp on Monday...

Not true.  People get fucked, then they get fucked again.  It is like lambs going to slaughter.  They never learn.  Nearly everyone will be sitting there thinking: 'this time, everything will be OK  -  right?'  And the next moment all their money is gone.  Don't you remember how many warnings there were for Gox?  Nobody moved.

They were 'too big to fail'.

What are you talking about

In order for something to be "too big to fail" someone needs to step in to prevent them from failing aka bail them out. The fact that there is no governing authority with bitcoin means that there is no one to bail out any "too big to fail" exchange

At least you understood the joke reference...better than some others. 

[mayax]

There are other, better exchanges. Don't see why everyone makes such a big deal of bitstamp

Bistamps is the 3rd exchange as volume and many other small exchanges are linked to them too.

[BTCreward]

If solvency is your concern I would pay more attention to the withdraw side. 

we will see many withdrawals from Bitstamp on Monday...

Not true.  People get fucked, then they get fucked again.  It is like lambs going to slaughter.  They never learn.  Nearly everyone will be sitting there thinking: 'this time, everything will be OK  -  right?'  And the next moment all their money is gone.  Don't you remember how many warnings there were for Gox?  Nobody moved.

They were 'too big to fail'.

What are you talking about

In order for something to be "too big to fail" someone needs to step in to prevent them from failing aka bail them out. The fact that there is no governing authority with bitcoin means that there is no one to bail out any "too big to fail" exchange

At least you understood the joke reference...better than some others. 

Well apparently gox at least thought they would/could get bailed out as they asked other large exchanges to do so

[Spendulus]

If solvency is your concern I would pay more attention to the withdraw side. 

we will see many withdrawals from Bitstamp on Monday...

Not true.  People get fucked, then they get fucked again.  It is like lambs going to slaughter.  They never learn.  Nearly everyone will be sitting there thinking: 'this time, everything will be OK  -  right?'  And the next moment all their money is gone.  Don't you remember how many warnings there were for Gox?  Nobody moved.

Yes, some did move from Gox.  Others moved with the early warning signs.

Regarding Bitstamp, there are two things worth mulling over.

A.  Move coins out.  Never hold coins in an exchange.
B.  Move CURRENCY out.  It does not matter if it is into USD.  Move it out into Euros or whatever is convenient.

I am not connecting the dots from the DWOLLA-GOX freeze of $5M to Gox's downfall.  It may have been a factor, but bank reluctance to deal with Gox wasn't the reason Gox had so much money and coin vanish.

That bank reluctance may have helped the Goxing from being FAR WORSE.

[Nrcewker]

interesting things happened on bitstamp 

[Bralex]

BTCe FTW?

Yes i agree, BTC-E had no problems with since i have been there, if i was trading at stamp i would have been hacked already (nice trusty exchange) but they did pay everyone back so a shining light.

Can Bitstamp just use moneypolo, okay pay? Would not choose the latter but where there is a will there is a way?

[readysalted89]

If solvency is your concern I would pay more attention to the withdraw side. 

we will see many withdrawals from Bitstamp on Monday...

Not true.  People get fucked, then they get fucked again.  It is like lambs going to slaughter.  They never learn.  Nearly everyone will be sitting there thinking: 'this time, everything will be OK  -  right?'  And the next moment all their money is gone.  Don't you remember how many warnings there were for Gox?  Nobody moved.

Yes, some did move from Gox.  Others moved with the early warning signs.

Regarding Bitstamp, there are two things worth mulling over.

A.  Move coins out.  Never hold coins in an exchange.
B.  Move CURRENCY out.  It does not matter if it is into USD.  Move it out into Euros or whatever is convenient.

I am not connecting the dots from the DWOLLA-GOX freeze of $5M to Gox's downfall.  It may have been a factor, but bank reluctance to deal with Gox wasn't the reason Gox had so much money and coin vanish.

That bank reluctance may have helped the Goxing from being FAR WORSE.

I read some stories suggesting Gox had money in bank accounts that "disappeared" like a load of bitcoins "disappeared". It was a credible story that Gox might have been hacked and had bitcoins stolen, but I do not consider it very credible that a hacker could have disappeared money out of their bank account. There is a clear money trail from bank account withdrawals. Gox sounds like an inside job to me.

Perhaps Gox's bank noticed financial irregularities from the inside job and refused to do business because of them.

[mayax]

this thread is about BitStamp

[mayax]

it seems Bitstamp doesn't accept deposit anymore.