BTER.com hacked| 7170 BTC stolen | DON'T KEEP YOUR MONEY ON AN EXCHANGE |

[Vivlore]

Bter sucks, they suffered NXT big hack before this BTC hack, but they learned nothing, maybe they stole their own coin, so they could lie to the investors. The worst Chinese exchange I have seen.

The trading volume of the bter is getting smaller. So traders are deserting the exchanges at the moment.

[deisik]

Bter sucks, they suffered NXT big hack before this BTC hack, but they learned nothing, maybe they stole their own coin, so they could lie to the investors. The worst Chinese exchange I have seen.

The trading volume of the bter is getting smaller. So traders are deserting the exchanges at the moment.

From rags to riches and back again. It is strange that someone is still trading there. Maybe, I don't know something about Bter that still makes it attractive for a specific group of traders? Who are all those people that are allegedly trading there, any ideas? I remember their trading engine had been broken in a very peculiar way which allowed some things not possible at other exchanges...

It is highly unlikely that they fixed it after the hack

[SmartIphone]

Bter sucks, they suffered NXT big hack before this BTC hack, but they learned nothing, maybe they stole their own coin, so they could lie to the investors. The worst Chinese exchange I have seen.

The trading volume of the bter is getting smaller. So traders are deserting the exchanges at the moment.

Once upon a time the DOGE market was leading the top traded coin on bter but now is CNY
Anyone know when is the next batch of payment, I forgot when was the last time I received from them anything.

[almightyruler]

Once upon a time the DOGE market was leading the top traded coin on bter but now is CNY
Anyone know when is the next batch of payment, I forgot when was the last time I received from them anything.

Pretty sure I've only been paid once.

Wouldn't be surprised if at some point costs exceed revenue (if they haven't already) and it becomes impossible to repay the lost funds.

Vircurex suffered a similar fate when it was hacked and they ran out of funds - seems to be limping along still, but the last payment was in January, and the second last payment was two years ago. They were supposed to be monthly payments.

[European Central Bank]

it's an endless loop. they can't repay without customers. who the hell's gonna trust them again apart from the uninformed? they don't deserve any trust. unless someone's market leading then they'll slowly fade away into nothing.

[STT]

I dont think its impossible but yea in finance reputation counts for alot.   The whole fractional reserve banking system is a house of cards in theory because massive deleveraging is possible, cue bernanke and his idea you print continually to restore confidence.  Well that wont work either in the end and we'll go back to hard money, seems to be our destination.   Look at Greece or elsewhere, does creating a false environment really work to restore business apparently it does not.

Bter could succeed still, how I think would have to be from innovation and providing service not available elsewhere.  They would have to be above and beyond the best exchange in some way, in order to compensate for this standing negative.  

[SmartIphone]

Once upon a time the DOGE market was leading the top traded coin on bter but now is CNY
Anyone know when is the next batch of payment, I forgot when was the last time I received from them anything.

Pretty sure I've only been paid once.

Wouldn't be surprised if at some point costs exceed revenue (if they haven't already) and it becomes impossible to repay the lost funds.

Vircurex suffered a similar fate when it was hacked and they ran out of funds - seems to be limping along still, but the last payment was in January, and the second last payment was two years ago. They were supposed to be monthly payments.

Also in BTER it was supposed to receive more often the batch payment but this is not happening and their support sucks.
I think that until now they could make some small payment from the fees that they charge!

[deisik]

Bter could succeed still, how I think would have to be from innovation and providing service not available elsewhere.  They would have to be above and beyond the best exchange in some way, in order to compensate for this standing negative

If they didn't succeed during the time after the hack, there is little to no chance of succeeding in the future. If the exchange owners had funds to make such a change, it would make sense to start another exchange in the first place, with all these new features and innovation that you are talking about. Apparently, this new exchange should have no connection with the old, discredited Bter...

But right now Bter seems to be running in semi-autonomous mode, and I guess it can run this way for many more years

[Amadues]

Bter could succeed still, how I think would have to be from innovation and providing service not available elsewhere.  They would have to be above and beyond the best exchange in some way, in order to compensate for this standing negative

If they didn't succeed during the time after the hack, there is little to no chance of succeeding in the future. If the exchange owners had funds to make such a change, it would make sense to start another exchange in the first place, with all these new features and innovation that you are talking about. Apparently, this new exchange should have no connection with the old, discredited Bter...

But right now Bter seems to be running in semi-autonomous mode, and I guess it can run this way for many more years

well! and  why they show funds stolen in balance?
You think there is a little possibility to get at least a portion one day?

ps what did you mean with an exchange that work in a semi-autonomous mode?

[almightyruler]

ps what did you mean with an exchange that work in a semi-autonomous mode?

Meaning it's running by itself without much attention from the operator. Slow replies to tickets (or no replies), no recent board posts, etc.

[deisik]

Bter could succeed still, how I think would have to be from innovation and providing service not available elsewhere.  They would have to be above and beyond the best exchange in some way, in order to compensate for this standing negative

If they didn't succeed during the time after the hack, there is little to no chance of succeeding in the future. If the exchange owners had funds to make such a change, it would make sense to start another exchange in the first place, with all these new features and innovation that you are talking about. Apparently, this new exchange should have no connection with the old, discredited Bter...

But right now Bter seems to be running in semi-autonomous mode, and I guess it can run this way for many more years

well! and  why they show funds stolen in balance?
You think there is a little possibility to get at least a portion one day?

ps what did you mean with an exchange that work in a semi-autonomous mode?

I mean that it is barely self-sustainable now. When something seriously breaks there or requires a major update (for whatever reason), they, or him (I mean the exchange owner - Lee, or what's his name) may have neither enough funds nor desire for such a remake. This may happen in a few days or in a few years, no one knows for sure...

But it will happen one day sooner or later, and when it finally happens that will be Bter's last hour

[Cassius]

It does stagger me that people still trade there...

[abyrnes81]

This is amazing, stop to trading on bter.com they are scammers. 

''Also in BTER it was supposed to receive more often the batch payment but this is not happening and their support sucks.
I think that until now they could make some small payment from the fees that they charge!''


Yea, their support is bad. 

[SmartIphone]

This is amazing, stop to trading on bter.com they are scammers. 

''Also in BTER it was supposed to receive more often the batch payment but this is not happening and their support sucks.
I think that until now they could make some small payment from the fees that they charge!''


Yea, their support is bad. 

I have stopped there to trade but even though after the hack I traded small amounts after because I trusted them but hopefully I didn't get scammed again.
What i was able to understand is that they give you 1% bonus of the coins you deposit but they also deduct 1% on withdraw which is unfair too.

[deisik]

This is amazing, stop to trading on bter.com they are scammers. 

''Also in BTER it was supposed to receive more often the batch payment but this is not happening and their support sucks.
I think that until now they could make some small payment from the fees that they charge!''


Yea, their support is bad. 

I have stopped there to trade but even though after the hack I traded small amounts after because I trusted them but hopefully I didn't get scammed again.
What i was able to understand is that they give you 1% bonus of the coins you deposit but they also deduct 1% on withdraw which is unfair too.

From your words, I infer that you get a bonus when you send funds to your account at Bter and get it subtracted if you decide to withdraw the funds. How is that unfair? Indeed, if you earn something (or big time, for that matter), and they subtract the same percentage (i.e. more in absolute terms), this is only marginally fair, but could you confirm they are doing exactly that and not just take back the bonus you received (in absolute terms)?

I've long stopped trading there so I don't know (but curious to find out)

[SmartIphone]

This is amazing, stop to trading on bter.com they are scammers. 

''Also in BTER it was supposed to receive more often the batch payment but this is not happening and their support sucks.
I think that until now they could make some small payment from the fees that they charge!''


Yea, their support is bad. 

I have stopped there to trade but even though after the hack I traded small amounts after because I trusted them but hopefully I didn't get scammed again.
What i was able to understand is that they give you 1% bonus of the coins you deposit but they also deduct 1% on withdraw which is unfair too.

From your words, I infer that you get a bonus when you send funds to your account at Bter and get it subtracted if you decide to withdraw the funds. How is that unfair? Indeed, if you earn something (or big time, for that matter), and they subtract the same percentage (i.e. more in absolute terms), this is only marginally fair, but could you confirm they are doing exactly that and not just take back the bonus you received (in absolute terms)?

I've long stopped trading there so I don't know (but curious to find out)

This is the effect of this marketing because you think that you are getting 1% bonus only by sending the coins there.
But lets say you deposit 1BTC and you get 1% bonus and now you have on your balance 1.01BTC, but when you withdraw 1.01BTC - 1% = 0.99BTC.

You see the difference?

[deisik]

This is amazing, stop to trading on bter.com they are scammers. 

''Also in BTER it was supposed to receive more often the batch payment but this is not happening and their support sucks.
I think that until now they could make some small payment from the fees that they charge!''


Yea, their support is bad. 

I have stopped there to trade but even though after the hack I traded small amounts after because I trusted them but hopefully I didn't get scammed again.
What i was able to understand is that they give you 1% bonus of the coins you deposit but they also deduct 1% on withdraw which is unfair too.

From your words, I infer that you get a bonus when you send funds to your account at Bter and get it subtracted if you decide to withdraw the funds. How is that unfair? Indeed, if you earn something (or big time, for that matter), and they subtract the same percentage (i.e. more in absolute terms), this is only marginally fair, but could you confirm they are doing exactly that and not just take back the bonus you received (in absolute terms)?

I've long stopped trading there so I don't know (but curious to find out)

This is the effect of this marketing because you think that you are getting 1% bonus only by sending the coins there.
But lets say you deposit 1BTC and you get 1% bonus and now you have on your balance 1.01BTC, but when you withdraw 1.01BTC - 1% = 0.99BTC.

You see the difference?

This is exactly what I've been asking. This means that the exchange is using relative values (percentages) in calculating the bonus, not its absolute value. Though I still think you are confusing something since if you, for example, deposited 1 BTC, got 0.01 BTC as a bonus, earned through trading 8.99 BTC (so your total would be 10 BTC), and then decided to withdraw the funds, they would deduct 0.1 BTC (1% of 10 BTC) which is nonsense...

If what you say is nevertheless true, such marketing tactics would be a masochistic exercise in stupidity

[SmartIphone]

This is amazing, stop to trading on bter.com they are scammers. 

''Also in BTER it was supposed to receive more often the batch payment but this is not happening and their support sucks.
I think that until now they could make some small payment from the fees that they charge!''


Yea, their support is bad. 

I have stopped there to trade but even though after the hack I traded small amounts after because I trusted them but hopefully I didn't get scammed again.
What i was able to understand is that they give you 1% bonus of the coins you deposit but they also deduct 1% on withdraw which is unfair too.

From your words, I infer that you get a bonus when you send funds to your account at Bter and get it subtracted if you decide to withdraw the funds. How is that unfair? Indeed, if you earn something (or big time, for that matter), and they subtract the same percentage (i.e. more in absolute terms), this is only marginally fair, but could you confirm they are doing exactly that and not just take back the bonus you received (in absolute terms)?

I've long stopped trading there so I don't know (but curious to find out)

This is the effect of this marketing because you think that you are getting 1% bonus only by sending the coins there.
But lets say you deposit 1BTC and you get 1% bonus and now you have on your balance 1.01BTC, but when you withdraw 1.01BTC - 1% = 0.99BTC.

You see the difference?

This is exactly what I've been asking. This means that the exchange is using relative values (percentages) in calculating the bonus. In fact, I think you are confusing something since if you, for example, deposited 1 BTC, got 0.01 BTC as a bonus, earned through trading 8.99 BTC (so your total is 10 BTC), and then decided to withdraw the funds, they would deduct 0.1 BTC (1% of 10 BTC), which is  nonsense...

If what you say is nevertheless true, such marketing tactics would be a masochistic exercise in stupidity

Firstly you are guaranteed that you will lose some money whatever if you got any profit from trading there or not.
So this tactic is smart from them but for users it not good because it's not good, we are not fools.

[deisik]

This is exactly what I've been asking. This means that the exchange is using relative values (percentages) in calculating the bonus. In fact, I think you are confusing something since if you, for example, deposited 1 BTC, got 0.01 BTC as a bonus, earned through trading 8.99 BTC (so your total is 10 BTC), and then decided to withdraw the funds, they would deduct 0.1 BTC (1% of 10 BTC), which is  nonsense...

If what you say is nevertheless true, such marketing tactics would be a masochistic exercise in stupidity

Firstly you are guaranteed that you will lose some money whatever if you got any profit from trading there or not.
So this tactic is smart from them but for users it not good because it's not good, we are not fools.

This tactic is not smart. I'd argue it is pretty much stupid, since traders are not fools and would stay miles away from such an exchange (that would allegedly grab some of their hard-earned profits). In fact, I've never heard about any exchange using something similar before. Could you please post a link where this bonus accruement on deposit and subtraction on withdrawal is described in greater detail (preferably at Bter itself)?

I wanna see it with my own eyes

[SmartIphone]

This is exactly what I've been asking. This means that the exchange is using relative values (percentages) in calculating the bonus. In fact, I think you are confusing something since if you, for example, deposited 1 BTC, got 0.01 BTC as a bonus, earned through trading 8.99 BTC (so your total is 10 BTC), and then decided to withdraw the funds, they would deduct 0.1 BTC (1% of 10 BTC), which is  nonsense...

If what you say is nevertheless true, such marketing tactics would be a masochistic exercise in stupidity

Firstly you are guaranteed that you will lose some money whatever if you got any profit from trading there or not.
So this tactic is smart from them but for users it not good because it's not good, we are not fools.

This tactic is not smart. I'd argue it is pretty much stupid, since traders are not fools and would stay miles away from such an exchange (that would allegedly grab some of their profits). In fact, I've never heard about any exchange using something similar before. Could you please post a link where this bonus accruement on deposit and subtraction on withdrawal is described in greater detail (preferably at Bter itself)?

I wanna see it with my own eyes

I just logged in our bter exchange and seems that they have removed this feature of +- 1% bonus.
They have added something new VIP tier which affects the trading fee, but still no batch of payment