bitfloor needs your help! - page 3. | Bitcointalksearch.org

edd

donator

Activity: 1414

Merit: 1002

Quote from: Rassah on April 11, 2013, 02:24:14 PM

Quote from: Minor Miner on April 11, 2013, 10:50:22 AM

Quote from: marcus_of_augustus on April 11, 2013, 10:37:45 AM

might be time to change the OP title ... "Bitcoin needs bitfloor's help!"

I do not know if Bitcoin can take another "theft" of people's bitcoins by people who just dump the proceeds of their theft and drive the price lower.

Sure it can. It's happened many times before, what's one more?
(Who's money got stolen this time?)

In addition, I don't see any evidence that dumping ill-gotten bitcoins is what's causing the falling exchange rate.

Rassah

legendary

Activity: 1680

Merit: 1035

Quote from: Minor Miner on April 11, 2013, 10:50:22 AM

Quote from: marcus_of_augustus on April 11, 2013, 10:37:45 AM

might be time to change the OP title ... "Bitcoin needs bitfloor's help!"

I do not know if Bitcoin can take another "theft" of people's bitcoins by people who just dump the proceeds of their theft and drive the price lower.

Sure it can. It's happened many times before, what's one more?
(Who's money got stolen this time?)

Minor Miner

legendary

Activity: 2478

Merit: 1020

Be A Digital Miner

Quote from: marcus_of_augustus on April 11, 2013, 10:37:45 AM

might be time to change the OP title ... "Bitcoin needs bitfloor's help!"

I do not know if Bitcoin can take another "theft" of people's bitcoins by people who just dump the proceeds of their theft and drive the price lower.

marcus_of_augustus

legendary

Activity: 3920

Merit: 2349

Eadem mutata resurgo

might be time to change the OP title ... "Bitcoin needs bitfloor's help!"

Rassah

legendary

Activity: 1680

Merit: 1035

Quote from: DeathAndTaxes on April 11, 2013, 09:29:25 AM

Rassah,

There is always one maker and one taker for every transaction. So Bitfloor collects 0.4% from the taker, and pays out 0.1% to the maker resulting in 0.3% net fee. It isn't hard to predict the net fee. It will always be 0.3% on every tx, every time.

Ah, thank you.

DeathAndTaxes

donator

Activity: 1218

Merit: 1079

Gerald Davis

Rassah,

There is always one maker and one taker for every transaction. So Bitfloor collects 0.4% from the taker, and pays out 0.1% to the maker resulting in 0.3% net fee. It isn't hard to predict the net fee. It will always be 0.3% on every tx, every time.

Rassah

legendary

Activity: 1680

Merit: 1035

Quote from: Alonzo Ewing on April 11, 2013, 12:55:06 AM

Bitfloor turned over $2 million in volume today, yielding commissions of $6000.

How do you get the $6,000 figure? Bitfloor charges 0.4% fee on transaction in both directions (so 0.4%*2), but actually pays market makers (people who put up a bid as a price and sit on it), so it's really difficult to predict how much of the volume earned fees and how much lost them.

Han

newbie

Activity: 40

Merit: 0

Quote from: Alonzo Ewing on April 11, 2013, 12:55:06 AM

Bitfloor turned over $2 million in volume today, yielding commissions of $6000.

The silver lining to the DDos attacks on the largest exchanges

Alonzo Ewing

legendary

Activity: 1040

Merit: 1001

Bitfloor turned over $2 million in volume today, yielding commissions of $6000.

Han

newbie

Activity: 40

Merit: 0

Quote from: muyuu on April 09, 2013, 02:23:45 PM

Does Roman have an address for donations? Sorry if it was already posted.

You could always tip him through the bitcoin bot on reddit explained here: http://www.reddit.com/r/bitcointip/comments/13iykn/bitcointip_documentation/

Roman's reddit profile is here: http://www.reddit.com/user/shtylman

qxzn

hero member

Activity: 609

Merit: 506

Quote from: muyuu on April 09, 2013, 08:07:08 PM

How can I be sure that address is correct? someone else could have listed his address, or it could be a compromised address.

I wouldn't want to send coins to the wrong person.

You can't be sure, and you're right to mistrust.

But, there's a decent chance it's right. So for small amounts, e.g. tips, you could use it.

But if you want to confirm that it gets to him, you'll probably have to contact him somehow.

muyuu

donator

Activity: 980

Merit: 1000

Quote from: qxzn on April 09, 2013, 04:15:26 PM

Quote from: muyuu on April 09, 2013, 02:23:45 PM

Does Roman have an address for donations? Sorry if it was already posted.

You could use this:

https://thewalletlist.com/api/lookup/[email protected]

How can I be sure that address is correct? someone else could have listed his address, or it could be a compromised address.

I wouldn't want to send coins to the wrong person.

qxzn

hero member

Activity: 609

Merit: 506

Quote from: muyuu on April 09, 2013, 02:23:45 PM

Does Roman have an address for donations? Sorry if it was already posted.

You could use this:

https://thewalletlist.com/api/lookup/[email protected]

muyuu

donator

Activity: 980

Merit: 1000

Does Roman have an address for donations? Sorry if it was already posted.

MPOE-PR

hero member

Activity: 756

Merit: 522

Quote from: Han on April 09, 2013, 09:10:23 AM

If yall want to get your coins back ASAP, you'd best promote bitfloor's advantages: US based, cold storage security, advanced matching engine, etc. now that Roman's stopped posting on his lawyer's advice (except for routine service announcements).

Especially the cold storage security.

Han

newbie

Activity: 40

Merit: 0

If yall want to get your coins back ASAP, you'd best promote bitfloor's advantages: US based, cold storage security, advanced matching engine, etc. now that Roman's stopped posting on his lawyer's advice (except for routine service announcements).

Minor Miner

legendary

Activity: 2478

Merit: 1020

Be A Digital Miner

Quote from: jgarzik on April 04, 2013, 12:21:30 AM

It is ludicrous to demand that anyone who loses value X be repaid at value X*10.

Look at the exchange rate on the day of the hack, and return debt based on that.

I find it strange that you think of the debt in fiat, not the bitcoin currency it was held in. The loss was bitcoins, the debt is bitcoins, their F/X worth to other things is irrelevant. I do not think anyone is asking to be re-paid 10X more bitcoins than they were owed.

EnergyVampire

full member

Activity: 210

Merit: 100

FYI:

"BitFloor will be offline for maintenance on 2013/4/6 from 3:00 AM to 6:00 AM EST (7 AM - 10AM UTC). The matching engine and trading will be unavailable during parts of this maintenance window as we improve our services. Deposits and withdrawals will continue to be processed."

Link: https://bitfloor.com/

So in another 8 hours or there abouts.

Alonzo Ewing

legendary

Activity: 1040

Merit: 1001

Quote from: Rassah on April 04, 2013, 10:58:55 PM

There is option #3: Take commission in BTC and use those BTC to pay down the loans. MtGox does about 2.3 mil of BTC in volume a month, meaning they rake in about 11,000 BTC in commissions alone. If Bitfloor continues to grow, and overall trade volume continues to grow, he may be able to make the 25,000 btc back in two years. Even if it takes 4, personally I would rather take the full amount of appreciating btc over 4 to 8 years, than a much smaller chunk of cash now.

That's very similar to what I meant in #1. To earn enough commissions to pay everything back in 2 years, he'd need an average trading volume of 10K per day. That's about 4x current levels.

Having said that, the volume has risen by 4x over the last two months.

I still think if we assume long term increase in BTC prices, converting to dollar debt is a no brainier. If, for example, volume jumps to 10K per day and the price doubles, it would only take 1 year to get back to even.

Rassah

legendary

Activity: 1680

Merit: 1035

There is option #3: Take commission in BTC and use those BTC to pay down the loans. MtGox does about 2.3 mil of BTC in volume a month, meaning they rake in about 11,000 BTC in commissions alone. If Bitfloor continues to grow, and overall trade volume continues to grow, he may be able to make the 25,000 btc back in two years. Even if it takes 4, personally I would rather take the full amount of appreciating btc over 4 to 8 years, than a much smaller chunk of cash now.

Topic: bitfloor needs your help! - page 3. (Read 177467 times)