Topic: BitMe now accepting new payment methods (Direct Deposit, wires, cash deposits) (Read 4829 times)

I can't withdraw from bitme:

There was a problem communicating with VouchX system

And it won't allow new "marked" cash deposits either (which I can confirm):

Is anyone else having problems with Bitme deposits?
 - https://bitcointalksearch.org/topic/is-anyone-else-having-problems-with-bitme-deposits-148078

But nothing here describing it, nothing on Twitter, etc.
 - https://twitter.com/bitmexc

VouchX reserves are low, please check back in a day or two

how often does bitme reload?

Trading volume growing at a steady pace:



 - http://bitcoincharts.com/charts/bitmeUSD#igWeeklyzm1g10zm2g25zvzcv

http://bitmex.tumblr.com/post/37098676123/new-order-execution-fees

None yet, it certainly helps to know what features users want though and will actually use!

I am now seeing some relatively decent order depth and the spreads narrowing on BitMe! (i.e., can buy or sell several hundred dollars worth of coins without being hurt due to slippage).
 - http://bitcoincharts.com/markets/bitmeUSD_depth.html

That's just about all that I'ld need to do more trading here.  Except not having two-factor authentication kind of puts a damper on things.


Any update on this?

My apologies. I decided to attend a conference out of town at the last minute and was unable to attend to my daily duties.

At first I read "BiteMe".

Odd. I saw that last night, it's still there or there again, then you see they have had trade history today. http://bitcoincharts.com/markets/bitmeUSD_trades.html

Just a little more than surprised to go to access BitMe and see the response:

- https://bitme.com

Then to check this forum thread and there was no mention of this.

I don't know when this went into "maintenance mode", nor why, nor see an ETA as to when the either service will be returned or when I will regain access to my funds.

I did check the blog blog but there is no mention:
 - http://bitmex.tumblr.com/

I did check Twitter and also no mention:
 - https://twitter.com/bitmexc

Whether it was scheduled or unscheduled, it still should be communicated.

40 @ $12.50 ask now.

Comparing it to the dashboard, it's the same, except the bids 0.000955 and 0.0000955 aren't there for obvious reasons.

Heh, I thought the chart was broken.  Since no ask orders except for one at $1,000 the chart picks a happy medium at about $505-ish, which, of course, has no bids or asks visible.

Specifically http://bitcoincharts.com/markets/bitmeUSD_depth.html

I've received this request a few times now and have added it to the todo list - don't have any time estimate on it yet. It's publicly available through the API and at BitcoinCharts.com

I don't see a way to view the order book without being logged in.    I generally don't login unless I'm about to trade.  Can this be made visible to guest/unauthenticated access somehow?

This is a project in progress... this limit is for unverified users. The limits for unverified users may change in the future, but soon we will be accepting verified users with higher limits.

That's a really low deposit limit. Is there a reason it's so low?

At least 50% in cold storage is the target. This can sometimes vary depending on daily volume, deposits, and withdrawal requests. I do my best to monitor this as to not delay withdrawals and maintain the target. I think this can be vastly improved and will be looking at changing the system/policy for this soon.


I would recommend people use the GET /rest/bitcoin-address call from our API if possible to retrieve the latest deposit address for their account. This is not required though and old deposit addresses will continue to function. If the hot wallet was compromised then yes, new deposits could also be compromised since deposits do not go to cold storage. As I said in the previous response I will be looking at changing our deposit/withdrawal system/policy soon.


Yes.


Absolutely. 100% reserves for all USD and BTC, no shenanigans. We are not in the business of loaning out funds or leveraging up. Our business model is simple and is naturally transparent (see our fees page). As part of the business finances we maintain the assets and liabilities of all customer deposits that we temporarily hold for purposes of buying and selling Bitcoins on our balance sheet. We cannot guarantee the safety or availability of these deposits that we temporarily hold and these are not insured.


We maintain write logs for our database that allows use to keep point-in-time backups. Currently, the write logs are encrypted and shipped to an off-site location (using write-only access without deletion permission) every 15 minutes, with a full backup being done once a day. This may change as our daily volume grows.


I need to look further into this issue before I can answer.


We would post an update on both our blog (Tumblr) and Twitter, and possibly post an update on these forums. If there was a long-sustained issue then we would probably point the site to a temporary status page.



As part of our security policy, we have been publicly posting disclosures on our blog about issues that "cause abnormal or unintended behavior affecting users". If it was a serious security issue then those users affected would be contacted using their email address associated with their BitMe account.


Two-factor authentication is planned for the near future and will be implemented before we start accepting verified accounts with higher limits. Currently users are required to (re)enter their account password for withdrawals (except for previously linked bank accounts). This will most likely be replaced with a pin number/OTP at some point.

I've submitting these questions to various exchanges.  It is BitMe's turn.  I'm specifically looking for the answer to:

 - BitMe's security page describes "The great majority [of bitcions] are held offline". 

 - Is there a target as to how much of customer's funds are kept in cold storage?  (e.g., percent of total, or perhaps relative to recent withdrawal requirements)?

 - Do new deposits go to cold storage?  (if the hot wallet is compromised, new deposits made (e.g., automated payouts by mining pools) would still be secure)

 - Does the offline wallet where the cold storage resides remain protected due to an "air gap" (no access to it electronically, not connected to the network)?


Other questions that I'ld like to know the answers to:

 - Does BitMe maintain full reserve?  (i.e., BitMe controls bank accounts with all customer USD funds and controls wallets with 100% of BTC funds.  None of these amounts loaned out.)

 - Does BitMe maintain offsite backups of its accounts and transactions?  If for some reason the exchange's primary account database were lost due to a security breach, what information (and how recent) is still available from backup or archives?

 - If there is a security breach and BitMe cannot meet withdrawal requests of its customers, what is the withdrawal preference that BitMe would follow?  Various preferences are:

 - -  A.) All deposited funds are of equal standing with bitcoins being valued at their market rate at the time of the loss,
 - -  B.) Withdrawals of USD funds, if not impacted by the breach, are made available to those customers who held a USD balance. in full.
 - -  Do customer deposits have preference over any other creditor claims?  (i.e., a contract stating so such that they don't become unsecured creditors ending up in the same pool as the landlord for office space and hosting bill.)
 - -  or is there some other approach?

 - If there is a DDoS or server availability issue, where should users turn to to learn status (e.g., blog, forum thread, Twitter, etc.)?

 - Does BitMe have (or plan to provide) an out-of-band communications method (e.g., e-mail to inform customers of any security issues?

 - Does BitMe plan to offer two-factor authentication?  If so, will it be "done right" (as requested here: https://bitcointalksearch.org/topic/a-plea-to-exchanges-lets-do-2-factor-right-109424 where each withdrawal request requires a OTP).