Topic: BitMarket.Eu has closed down - page 60. (Read 204189 times)

You're right. This should be standarized and clearly stated on the website. The question is - what should be the default behaviour - should buyer cover any fees, or should the seller do it?

For 1), maybe we can discuss about it in private.

For 2), yes, it's exactly what mybitcoin provides. But it would allow people to not have account everywhere. It looks like it coul be very easy for you to implement.

Could you please elaborate on this?


Isn't that exactly what mybitcoin.com is providing?

I just realized that you can easily use bitmarket.eu as a bitcoin bank. Use the withdrawal form to pay other people and send them money :-)

Anyway, very very good looking website, easy to use.

Some low hanging fruit that could make bitmarket.eu a big hit:

1) Unconditional buy/sell: bitmarket acts as a real money exchanger and give a fixed rate for those who want immediate money/bitcoin. (this is of course a bit risky but risk can be mitigated with some simple rules).

2) Bank features: allow users to generate different receiving address with a comment for each of them. And allow them to send money (it's already possible but called withdraw).

You're right. We will fix that asap. Thanks!

Is it just me, or do the country flags in the list of ask offers not work correctly?  When I hover the mouse over a flag in the bid offers, a little tooltip tells me which country it is.  In the ask offers, the tooltip comes up, but it's tiny and contains no text.

Hi.  So I just completed my first two trades on bitmarket.  Nice site, thanks.  I sold 5 and 10 bitcoins.  The first buyer paid the paypal fee as "a gesture of goodwill".  So to reciprocate, I refunded him half the fee converted to bitcoins at the traded price.  The second buyer charged the fee to me.

So now, for the future, what shall I do?  Shall I factor in paypal's (or the bank's) fee in my price?  Seems a bit silly.  Normally, whenever you buy something through bank transfer, or paypal, the seller should receive the price specified in the contract.  i.e. business standard is, buyer pays fees.  Perhaps bitmarket.eu's website should clearly indicate that this should be the default behaviour, unless the two parties agree otherwise.

Are there any other exchanges which have dealt with this?  Most of them, I expect, allow you to credit your account on the exchange with currency aswell as BTC, so the trade is all internal to the exchange, and I think bitmarket's intention is to do that too.  But in the meantime, it would be good to clear up the ambiguity.

As BioMike said, if you can prove that you've sent the money, we can act on this. Another thing is that we're planning some other features that will make this easier and safer, but these things take time, as we not only need to code them, but also make sure that it complies with law in Poland.


It isn't complicated, but we would need to see that there is actual demand for trades in these currencies. Then we could consider adding them.

BM.eu freezes the bought bitcoins. If there are problems you can contact the BM.eu admins, they will ask for proof of the payment and resolve the problem. My experience so far is that many sellers immediately release the coins (could be due to accident) or after you told them you paid (not what I would do). If you can't agree about transaction of the euros both parties can contact the BM.eu admins to undo the transaction (bitcoins go back to seller and you don't have to pay any more).


Read a few post back. BM.eu is sorting everything out with legal council, but it takes time. They just want to be sure they will not be shut down by authorities.

Wanted to try and matched an existing offer. Now, I have to contact the seller to ask him is IBAN account.

Question1: how can I trust the vendor that he will accept the transaction once I send the money?


Question2: why can't bitmarket acts like a 3rd party. You have to credit your money account/btc account (with IBAN, it will works without fee in the whole EU). That way, transactions would happen immediately without any scam possibility.

I like this.
Would it be possible to add all SEPA currencies, or is that a complicated process?
I would like to offer some coins in CHF and NOK would be good-

That would be very nice. I think it is a bit silly to do international bank transfers for a few euro cents, just because someone sells 1btc. If I have to do 50 transactions for 1btc... that's a lot of work... Or, instead of a 10btc, a limit on the total amount in euros (5 euro minimum?).

@BioMike: As soon as my Accountant gets back to me on this. Shouldn't be longer than a few days. The guy is completely new to Bitcoin so he needs time to digest it.

By the way, thanks for your patience; we are doing our best to make the exchange better. I am just thinking, perhaps we should put a limit of 10 BTC per transaction unless Paypal is allowed? Just for the time being. I will check how hard this would be to implement...

I think it is good doing this. When can we expect this feature? Also with view on 1BTC transactions (people now just confirm then, yay! free BTC).

Once the offers are matched, both the seller and the buyer receive emails from admin at bitmarket dot eu asking them to contact each other, so you can be sure he got the message unless our email address is in his spam filter.

We can't allow anyone to cancel their offers manually after the transaction took place, because this way the buyer would have no warranty that they will get their coins in case the seller was going to cheat. You need to email us if you need the transaction cancelled and then we resolve it. I know it's not ideal, but that's the way it is for now.

We are working out the legal issues and once we have everything sorted we will allow transferring money into the exchange, so that the transactions within the exchange are instant. No point in allowing that now and then shutting the exchange down after some tax officer gets onto us. We want to do this right. Also, once we have the legal end of it sorted we are going (more than likely) to act as a limited company with proper terms and conditions so that everyone knows where their money is going.

I was thinking a messaging system within the exchange, but then again, the guy may say he never logged in to read the message so this doesn't really solve the issue.

Ok, I don't really think this system works for me because;
- I don't have a way of knowing my emails aren't getting into some guy's spam folder
- I have no way of knowing if the buyer isn't just using the exchange as a hedge, only completing the trades if the market moves in the way he expects
- There are no hard rules regarding communication

My own history is that I have 2 trades done... on one it has been 6 days and 3 email, no response whatsoever. The other I got a response for very quickly, an agreement was made as to the method of payment and I've been waiting for 3 days for the transfer confirmation.

Nothing fancy, no huge values, but as the market moves up I find myself frustrated because I don't get the cash to buy more bitcoins in time before prices go too high, and I don't have the bitcoins to sell for a higher price. The market just moves too slow.

What I would like to see implemented, short of a full exchange, was a communication system mediated by the exchange so
1) email history is kept
2) the sender is the exchange, resolving the spam folder potential issue

Also a simple rule like - 48 hours of no communication gives the seller the chance to cancel the trade and get the coins back. This of course means the exchange must be sure there was an attempt and no reply. Just waiting for 10 days sucks on such a dynamic market, mostly because there is zero assurance the trade will actually be completed by the buyer, whereas the seller is locked in for however long.

I've sent you a PM.

I registered, made a matching purchase offer for an ask offer, and I see it unconfirmed in my transactions. Didn't get any e-mail. How do I check that I entered the correct e-mail address?

Another feature update, a minor one this time

On the Market - offers list:

• Added flags indicating from which country seller/buyer is (so you know if you are capable to pay or take payments from him)
• Added tips when you hover payment types icon, so you can immediately know what they mean

See for yourself

Now to write a comprehensive guide on using the exchange.