Topic: Bitcoin-24.com matching engine seems broken, site down. - page 21. (Read 64428 times)

Trading engine crashing is understandable. But why were the bank accounts frozen. More details needed.

I am still undecided what the shutdown means, but you sir should have lost this money in the recent crash.

I also find it pretty fishy. There is something he's not telling us...

This isn't the first time Bitcoin-24 has gone down.  All the exchanges seem to also have problems recently, even (especially) Mt Gox.

So far I can't see that there's any evidence that anything fraudulent is going on from the side of Bitcoin-24.  Far as I can see the person running the exchange is not a crook.

The only reason they would take the server offline temporarily is if there are technical issues. Which apparently there are.

So we can only wait until these problems are solved. There's nothing Staatsanwaltschaft or police or anyone else can do to help at this point, the person running the exchange has to deal with it.

The fact is all these Bitcoin exchanges are badly operated right now, there are technical problems all over the place.  Poor communication not least is one of the problems. The whole set up is not very professional.

By the way, I also have Euro and Bitcoins deposited with Bitcoin-24.

you are an a*****e
[/quote]

Be sure i checked that number before, i don't wanna have hundreds of ppl calling him, keeping him away from work if he tries to fix the engine   .

And yeah, sometimes you have to be an asshole. You have to say "NO STEP FURTHER" sometimes and defend your point of view in the first, even if it might piss off people. But you always have to be open for other arguments, discuss them, think your position over, move a bit when the opposite moves, too. In the end you have a solution were all keep up appearances.

Since i have a few thousand € in there, i can be your worst nightmare if you don't treat me well!  

EDIT:

There are several video-broadcasting sites like justin.tv or livestream.com. If simon would broadcast an explanation it would restore a lot of faith! No matter if he's not that good with english, many german ppl would understand and give him credit if it makes sense what he says!

EDIT2:

I get back to the PMs ASAP, need some food now
  

Yeah, sounds fishy to me too. No mention of the bug either though I clearly witnessed it and I had a few 1000 euro extra balance that I shouldnt have had. Which means someone else or btc-24 is missing that. Last time I checked they werent a central bank.

So the trading engine froze at the same time as authorities froze his bank account? hmmm...

Yes i'm certainly considering action against him, due to the lack of information at all! Sometimes you need to announce drastic steps to get a reaction. Even ShitGox gave a statement what went wrong. And get the facts together:

- Running a Ltd. when there is a similar form of business in germany, too. Its called "Unternehmergesellschaft, haftungsbeschränkt" you can start with €100 for example.
- Lot of people pissed and spamming the chat 'cause they are waiting for few weeks to get their money out of BTC24 or account funded with sent money.
- According to few pics i found, looked like he runs several (at least 5 or 6, maybe more) 5GH/s Bitforce miners. All of you are able to calculate...
- Huge crash that has happened, panic everywhere
- Never seen him in chat or must have missed him. Normally i'd show up and answer questions, talk to my clients few times a day for 10 minutes or so. Let them feel you are there even if not visible!
- People waiting one or two weeks to get their mails answered. If i can't cope with that workload, i have to hire people for that!
- Phone number i've found isn't active
- Lots of moniez that could be sent to the caymans on a keystroke and spent for coke and whores  
- A lot more reasons i'm too lazy to tell..

And now ask yourself, how would you pull a really profitable scam?

1 - Build up trust, process all orders correct
2 - Grow, receive more trust (and more money/BTC) to work with, still process all correct
3 - Repeat step 2
4 - See the price rise, sell your mined BTC on other xchanges, make profit
5 - Make profit from the spread when ppl trade on your platform like every FOREX dealer does
6 - Upgrade and improve your service with the profit you made so clients think you're caring and resposible, think before you act!
7 - If you're a good guy, go back to step 2  

now we have 2 ways:
- Decide to work with coins you got from your clients. Buy cheap and sell high or sell BTC when high and buy cheap back. If you have losses, cover them with the miners you're running
- As reaction to the crash, sell BTC(regardless of whether your customers or your own) on various xchanges, making a million € or two...and run

I think most of you never ran their own business, dealing with all sorts of idiots out there, ppl not willing to pay their invoices and so on. Sometimes you have to draw a line!

And according to the "greed&fear - fear&greed" comment, i'm mining for about 2yrs on BTCguild and i really love how its run! And at some point, i want some of my investment back even if i don't need to pay for power!

As there is a statement now, nothing will follow at this point. I hope i won't be disappointed in th near future!

you are an a*****e

Thanks for all that

Funny, but it surely was a typo, and they meant "our" instead of "your".

got a couple of grand in withdrawals, I hope he publishes a statement and sorts it out

I'm feeling more confident about this now. I was thinking for a while what he could mean by declarations and then realised he means his database transactions.

I am pretty sure before he pays out ALL bitcoins with a cronjob, he checks that the balances match up and it makes sense. If not, the site probably goes down automatically and notifies him. So its just a matter of time when his database back up will rectify to the latest consistent state and meanwhile he is probably fixing the bug that caused all this.

Fingers crossed!

Simon knew about this bug since at least 11 days, since then there is a youtube video telling about it. Also several user messaged him that problem. He didnt solve it, in fact, it got worse. Me and a friend got a high 5 figure sum locked in withdrawal right now. I think the actions Beutelschneider takes are good and just take care of our funds.

Beutelschneider, I think this really would not help the situation right now. If he was to be in police custody then he can't work on solving the problem. Patience is necessary at this stage.

If there was any technical problem, then it was sensible to take the server offline for the moment. That is in the best interests of everyone trading on the exchange.

Please be patient and give the exchange and the person running it a chance to solve the problem first.

I hope all works out well.

Man :-/ ...

0) I will not tell you why this message/informations did appear on his web-site NOW in spite I have a very good guess ....

1) I know Simon, he is no native english speaker/writer (like me) and probably he types these sentences in a hurry, at least in high time-pressure.

2) Ever heard of typos? For me, the y in the word "your" is one and then the sentence (with my background infos and deleting this "y") makes perfect sense!

A friendly pointer to these nervous guys: calm down, this would be better for everybody.
smtp

 

( i guess he copied & paste some mail he got from some partner in poland )

 

What was the IP adress to access the site?

Hmm very strange. Why did the Polish authority close my account? Also, I don't remember having an account in Poland.