Topic: BitMarket.Eu has closed down - page 53. (Read 204189 times)

I'm a bit confused about how to use the site -
I was accepted as a registered member yesterday. When I click one of the offers, it leads me to a page where I am to set up my own offer rather than allowing me to trade against the offer on the market. I feel quite stupid for having to ask this, but what am I doing wrong? I read the FAQ but surely I'm missing something!

Hi all,

great changes!
In regard to the PayPal guidelines I'm not entirely sure that this is the right approach. If I would sell via PayPal (which I never do, so I don't care *g*), you don't know who buys from you, i.e. what the costs are. They can be either 1.9% (inside EU and EUR country) or 3.9%. Hence, you don't know what to charge. This will probably lead to even less people offering BTC via PayPal. The way I always handled it in OTC transactions was that buyer pays PayPal. PayPal shows the fees on its side, so if you know the geographic details of buyer and seller you can calculate the fees yourself. But I can also see your point on this story.

Site notifications is great!

As mentioned beforehand - if you want a German translation of the side give me a shout.

The automatic donation is nice. Safes me the work of doing manual donations. However, I would appreciate if you could choose your amount freely and not only have 4 options. If that's too much work leave as is though and I'll continue doing it manually

Looking forward to the rating system

Thanks for your great work and effort,

sonba

New features and some new guidelines available on BitMarket.eu!

Phew, it was quite a week. The price went crazy, there was a big theft on the Bitcoin network. But we at BitMarket were working to bring you two new features, and one small something for us.

Paypal guidelines changed!
PLEASE READ THIS if you use Paypal, if you don't, you can get yourself trouble. Because of some confusion about who should pay the Paypal fees, we are changing our FAQ to reflect the most common situation: now the seller pays the Paypal fees. This is because, when you send money Paypal via Paypal you often don't have a choice besides choosing that seller will pay the fee. It happened to us many times and we have to make it an official rule to avoid more confusion.
Additionally, when buying with Paypal, please don't mention "Bitcoin", "coin", or any other currency-revelant words in your payment description. Please just put the your username/email and transaction ID there.

Site notifications
Now, when something's changed or added on our site, every member will get a notification to let him know of this fact. This notification will dissapear once you click on it and get you to a bigger story (probably most of you that are reading this already used this mechanism). So no more telling that "I didn't know that you changed something!"

Italian language
Our fellow trader ZEB-DEMON provided us an italian transation of our site, free of charge. We'd like you thank him for this and welcome all our italian friends to join us on the market!

You can now define which payment type to use on each offer
Because many people told us, that, for eg. they want to buy with Paypal but they don't want to sell in it, we're added a form to select your desired payment types on the Offers page. Your default payment types are always selected there, but you can change them at every offer.

And last, but not least...
BitMarket.eu was always free to use, for buyers and for sellers. As far as I know we are the only relatively big exchange that takes no commitions at all. This will change today though. We will... still remain free! But, we are adding an optional donation, that you can give to us on every trade you make.
You can choose whether you want to donate nothing, 0.1%, 0.5% or 1%. It's totally up to you. For now there won't be any premium features for using donations (beside of making the smiley in the Account page more happy ), but it may change in the future. The donation is one side only (seller pays the donation) and it's totally unobtrusive - it's doesn't get you in your way. It doesn't change your offer nor it doesn't block you from selling everything you have. In the latter example, you will just end up with small negative balance, but that's all.

We believe that most of you know that running a site like this costs money (right now we use a top-shelf VPS server, and hire two people to handle account verifications), but because Bitcoin is such a terrific idea, we want it to remain as free to use as possible. So optional donations/fees seem like a good idea - we will be grateful if you donate, but we'll not get mad if you don't .

Trade well!

Just signed up, used ebay as verification.  Will report back as to how long verification took.

Site looks very clean/professional.

The account was verified ... thanks alot... 

im still waiting on confirmation ... i sent what you requested can u take a look at it please ... account the same as here.
i have been waiting for more than 2 weeks.
thanks ...

The limitation for new members sounds like a good idea. It should be high enough so that they can trade a bit. hence, I would rather make a BTC then a EUR limit. Plus: it's easier to implement for the developers as you don't have to convert currencies (otherwise you need limit for PLN, GBP, USD...). IMHO it shouldn't be below 10BTC. Otherwise new people cannot really buy anything.

I'm not sure I like the idea about collaterals too much, though. I don't appreciate of having BTC lying around which I cannot access. Especially not in the current volatile market.

Maybe it is possible to implement a rating system that is based on the amounts and volume of trades that have succesfully taken place. As a new member, you'll only be allowed to trade BTC worth XXX EUR and each succesful trade (be it selling or buying) increases your trading volume by another XXX €. After a certain number of succesful trades, the limitation is removed because you have proven to be a trustworthy trader.

This way, the behaviour mentioned above does less harm to the marketplace and makes it less attractive for scammers to enter the marketplace.

Another possibility that comes to my mind is some sort of collateral that you have to pay before trading. If you're doing any trade, XXX BTC are frozen until ALL transactions are completed, then it is repaid. Obviously, it would be harder for new bitcoin-users to enter the market, but the collateral payment could be implemented for users that don't have the initial trading limitation anymore.

Keep up the great work!

probably best to avoid [email protected] as well. seems to be the same person.

Just finished reverting all the transactions that this user done. For your reference (if you don't want trouble, don't engage in anything with this person), here's his email address: [email protected].

@sonba: We are looking into methods that will minimalise this kind of behaviour. Thanks for the suggestions. We'll keep you posted.

Taking into account what Jurian wrote (I saw that guy popping up - was lucky that I didn't have any offers on at the time) - it might be a good idea to have some methodology to enforce good behaviour? That might also stop people from canceling their binding bids/offers when you hit them. I'm not sure myself how this should look like. The most obvious punishment is banning from your side - but that won't stop people from trying to scam - they can re-register.

Taken into account that most people use eBay or Bitcoin-OTC history to register at your side - maybe it might make sense to give them a bad rating at OTC (or tell their counterparties their OTC-nick *g*) if they do not comply. Alternatively one could make it a prerequisite that they do a sell trade (sales for 1EUR are pretty much free) of whatever on eBay (like selling an e-mail) so that it is possible to rate them there. On a second thought that looks like quite some work for you guys - so, not really a useful idea

Maybe somebody else has a better idea?

@jurian: I will cancel all the trades he has done if he doesn't reply in two hours. I gave him time until 18:00 UTC to explain himself.

Still heard nothing from this guy... I e-mailed him twice...

I think he was just trying to scam the market..

Can i cancel the transaction without penalty ?

wow - that script's speed is a great improvement! Highly appreciated! No more worrying whether I mistyped my address

Our Bitcoin payment synchronization script got an update!

What does that mean? Well, it means that your BTC deposits will be now processed much quicker. How quick exactly?

- They will become visible on your Funds page in less than a minute
- At the current network rate, they will be available for you to trade in about 10-20 minutes*.

Compare that to hour or two you get on M... some other exchange .

This depends on current network speed. It can be faster or slower at some times. Your mileage may wary.

@jurian89: We'll be monitoring the situation, and if the guy is really malicious, he will be banned for sure.

I think there was just a attempt to disrupt the market by a guy who offered 30 eur per btc. Now the whole ask section of bitmarket is empty so he could just sell some of his coins for a higher price.

I think he will never pay.

If he does not pay before tomorrow could he be banned ?

@sonba: Thanks for all your ideas. Believe it or not, but we not only thought of them already, but have some of them in the works. So stay tuned for updates!

Yeah, great site and supprt. A big thanks from my side!!!

Since you were asking for ideas: I agree with calibrata: having an option to say "all or nothing" would be nice. Had some buyers who canceled transactions due to SEPA fees as their Bid got splitted. Would be a nice add-on if sth. like that could be avoided. (Not a must-have, though) I see the problems connected with it but I would guess that it decreases the amount of cancelations rather than increasing them.
Another nice idea that already popped up is that you have different payments for paying and receiving. While I'm fine to pay with PayPal, I wouldn't accept it, for instance.

ON a completely seperate note: I have several buyers who told me that they only checked paying via paypal and nothing else, while I do not offer PayPal and unchecked it. Still, they were able to click on my offer and the system matched us. Obviously I cannot confirm whether they really unchecked all other payment options but since it happened already with some different buyers I tend to believe them. Is this a know issue/bug or did the buyers have a mistake on their side? (I checked so often that I don't have PayPal allowed that I rule that one out *g*)

Looking forward to the rating system. That will make your side even more legen - wait for it - dary!!!

Thanks for the fantastic site and support