2013 - 12 - 03 "Is Europe’s 2nd Largest Exchange BTC-e Having Banking Isssues?"

LiteCoinGuy

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In Satoshi I Trust

Quote from: TheFootMan on December 04, 2013, 01:03:58 PM

Quote from: LiteCoinGuy on December 04, 2013, 11:31:12 AM

but thats the case with any exchange.

Yes - and with any bank really. You always have the govt. guarantee of course, but that's also just a piece of paper..

But there's a certain degree of trust. Some institutions have a higher degree of trust than others.

So whereas you might give more trust to an established player in the bitcoin exchange market, a newcomer operated out of the shadows might be less trusted.

i guess within the next 1-3 years we will have alot better exchanges that are more trustworthy. maybe circle is the first one.
and in the long run people want exchanges or depots with insurance over their funds.

FeedbackLoop

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Quote from: TheFootMan on December 04, 2013, 01:03:58 PM

Yes - and with any bank really. You always have the govt. guarantee of course, but that's also just a piece of paper..

Actually not even quite that anymore. In some places you now have the guarantee that the government will force you to lose your deposit in favour of bank creditors (read other banks, not you the depositor even though a deposit is a sort of loan) when the local Ponzi cards start falling:

http://www.irishexaminer.com/business/taxpayers-get-protection-from-failed-banks-235394.html

TheFootMan

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Quote from: LiteCoinGuy on December 04, 2013, 11:31:12 AM

but thats the case with any exchange.

Yes - and with any bank really. You always have the govt. guarantee of course, but that's also just a piece of paper..

But there's a certain degree of trust. Some institutions have a higher degree of trust than others.

So whereas you might give more trust to an established player in the bitcoin exchange market, a newcomer operated out of the shadows might be less trusted.

LiteCoinGuy

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In Satoshi I Trust

Quote from: TheFootMan on December 04, 2013, 10:46:11 AM

As a note, I always assume that anything held with btc-e always can be lost on a moments notice, so therefore it is advised not to hold more with them than what you can afford to lose!

but thats the case with any exchange.

TheFootMan

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It seems like the easiest way of dealing with btc-e is to deposit bitcoins, and then withdraw with bitcoins.

As a note, I always assume that anything held with btc-e always can be lost on a moments notice, so therefore it is advised not to hold more with them than what you can afford to lose!

And esp. with them not being very transparent, caution is always smart.

When having trouble with something, always stay very polite and patient, I've heard some stories about people being banned because they were making too much noise - which of course they were in their full right to do - when they had problems, but dealing with a company in a country far away, pissing them off is the last thing you want to do if you want a resolution to your issues.

Barek

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To be fair, you can get money in. It's just that they take very high fees on deposits/withdraw.

The lowest fee option (1%) of wire/SEPA transfers seems to randomly eat/delay transactions.

DeboraMeeks

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It's better to not be able to get money in than out so you won't be losing it there Tongue

,Seriously though it's strange. I though they had everything worked out with there Bank. Maybe asking for AML/KYC from all customers in the next step?

davidgdg

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http://www.coindesk.com/btc-e-exchange-banking-issues/

Ironic. At Gox you can't get your money out. At BTC-e you can't even get it in.

Topic: 2013 - 12 - 03 "Is Europe’s 2nd Largest Exchange BTC-e Having Banking Isssues?" (Read 1096 times)