BTC-e hacked ?? - page 40. | Bitcointalksearch.org

illinest

sr. member

Activity: 454

Merit: 251

Quote from: bananax on August 15, 2017, 10:18:41 AM

Quote from: YesLOST on August 15, 2017, 05:59:09 AM

Quote from: btc-e.com

The FBI arrives to seize the server and everything for a new and so 1000 times.
Even if the server is hosted in the DNS and the domain can not be avoided in the torus, the question is whether you wait for 1.5 months each time until the service is restored?

Btce answering to "verification" question.

DNS = Donetsk Republic (in the Ukraine)
torus = TOR

Are they answering "Why" they need verification? to avoid being brought down again?

Yes, I was reading through some translations of their posts, and it seems this is the case. I don't see how they can remove affiliation from the original exchange, so full verification just puts customers at risk for no gain except to deter some people from claiming funds. They mentioned a 3-tier verification, so it might be something like most altcoin exchanges currently have.

romani245

sr. member

Activity: 267

Merit: 255

Quote from: R2Pleasent on August 15, 2017, 11:09:31 AM

Quote from: romani245 on August 15, 2017, 06:32:05 AM

Quote from: YesLOST on August 15, 2017, 05:59:09 AM

Quote from: btc-e.com

The FBI arrives to seize the server and everything for a new and so 1000 times.
Even if the server is hosted in the DNS and the domain can not be avoided in the torus, the question is whether you wait for 1.5 months each time until the service is restored?

Btce answering to "verification" question.

DNS = Donetsk Republic (in the Ukraine)
torus = TOR

So where does that leave us? It seems like the feds take many months and years to build a case before making a move. After they botched the BTC-e seizure so badly, they probably won't rush to immediately seize the new domain/servers. They'll take their sweet time. They want the real owners, not this Vinnik patsy.

It's impossible that they give people USD. They have no way to cash out USD. If there's no way to cash out USD, it's a token. It's just money they invented, because it's impossible to remove from the platform. Explain to me how 1 USD is different from 1 BTE in this scenario.

I don't think there is USD in the scenario. Indeed that's why BTE exists; because they can't process fiat money. I think that fiat holders must be getting cryptocurrencies + BTE, especially given what they said about conversion in their latest posts. They could only exist as a crypto-only exchange.

R2Pleasent

full member

Activity: 139

Merit: 100

Owner@ CryptoFundingTracker.com

Quote from: romani245 on August 15, 2017, 06:32:05 AM

Quote from: YesLOST on August 15, 2017, 05:59:09 AM

Quote from: btc-e.com

The FBI arrives to seize the server and everything for a new and so 1000 times.
Even if the server is hosted in the DNS and the domain can not be avoided in the torus, the question is whether you wait for 1.5 months each time until the service is restored?

Btce answering to "verification" question.

DNS = Donetsk Republic (in the Ukraine)
torus = TOR

So where does that leave us? It seems like the feds take many months and years to build a case before making a move. After they botched the BTC-e seizure so badly, they probably won't rush to immediately seize the new domain/servers. They'll take their sweet time. They want the real owners, not this Vinnik patsy.

It's impossible that they give people USD. They have no way to cash out USD. If there's no way to cash out USD, it's a token. It's just money they invented, because it's impossible to remove from the platform. Explain to me how 1 USD is different from 1 BTE in this scenario.

bananax

newbie

Activity: 22

Merit: 0

Quote from: YesLOST on August 15, 2017, 05:59:09 AM

Quote from: btc-e.com

The FBI arrives to seize the server and everything for a new and so 1000 times.
Even if the server is hosted in the DNS and the domain can not be avoided in the torus, the question is whether you wait for 1.5 months each time until the service is restored?

Btce answering to "verification" question.

DNS = Donetsk Republic (in the Ukraine)
torus = TOR

Are they answering "Why" they need verification? to avoid being brought down again?

erk

hero member

Activity: 826

Merit: 500

Quote from: shrodix on August 15, 2017, 09:45:42 AM

Quote from: YesLOST on August 15, 2017, 05:59:09 AM

Quote from: btc-e.com

The FBI arrives to seize the server and everything for a new and so 1000 times.
Even if the server is hosted in the DNS and the domain can not be avoided in the torus, the question is whether you wait for 1.5 months each time until the service is restored?

Btce answering to "verification" question.

DNS = Donetsk Republic (in the Ukraine)
torus = TOR

if btc-e is hosted in DPR . I will stop using their service. I don't want to support them.

I shudder to think what the Internet is like in the DPR with the war on.
There are probably lots of places they could get hosting that were easier and more reliable.
Like Syria or North Korea.

Being serious, Donetsk would be a good place as long as the government is happy with having a Bitcoin exchange there.
The US wouldn't have free reign on stealing servers.

They would still have to frontend the site with Cloudflare or some other DDoS protection service.

shrodix

newbie

Activity: 32

Merit: 0

Quote from: YesLOST on August 15, 2017, 05:59:09 AM

Quote from: btc-e.com

The FBI arrives to seize the server and everything for a new and so 1000 times.
Even if the server is hosted in the DNS and the domain can not be avoided in the torus, the question is whether you wait for 1.5 months each time until the service is restored?

Btce answering to "verification" question.

DNS = Donetsk Republic (in the Ukraine)
torus = TOR

if btc-e is hosted in DPR . I will stop using their service. I don't want to support them.

illinest

sr. member

Activity: 454

Merit: 251

Quote from: YesLOST on August 15, 2017, 01:11:04 AM

Quote from: erk on August 15, 2017, 01:01:39 AM

Quote from: YesLOST on August 15, 2017, 12:49:34 AM

No, after last update it is clear, everybody gets his "balance currency". E.g. Coin holder gets 55% coins and Fiat holder gets 55% fiat. Then you can do whatever you want or what is possible with your balance.

How are they going to get 55% fiat when OKPAY effectively stole the BTC-e fiat with no signs of it coming back?

Well, as I wrote earlier, fiat holders are fucked. Btce is probably putting up buy orders for fiat with their remaining coins at today's exchange rate, e.g. they put up an order with 50.000 bitcoins for sale after distributing the 55% to coin holders. As there will be more fiat than btc, be ready to buy nvc for $20 or more.

By my reading of their last few posts, fiat balances will be converted in 16 days. We're stuck with NVC, but we won't be buying it with USD. It could be worse. Realistically, the majority of their liquidity has to be bitcoins, so that should be what the majority of fiat holder's basket is.

romani245

sr. member

Activity: 267

Merit: 255

Quote from: YesLOST on August 15, 2017, 05:59:09 AM

Quote from: btc-e.com

The FBI arrives to seize the server and everything for a new and so 1000 times.
Even if the server is hosted in the DNS and the domain can not be avoided in the torus, the question is whether you wait for 1.5 months each time until the service is restored?

Btce answering to "verification" question.

DNS = Donetsk Republic (in the Ukraine)
torus = TOR

So where does that leave us? It seems like the feds take many months and years to build a case before making a move. After they botched the BTC-e seizure so badly, they probably won't rush to immediately seize the new domain/servers. They'll take their sweet time. They want the real owners, not this Vinnik patsy.

YesLOST

newbie

Activity: 56

Merit: 0

Quote from: btc-e.com

The FBI arrives to seize the server and everything for a new and so 1000 times.
Even if the server is hosted in the DNS and the domain can not be avoided in the torus, the question is whether you wait for 1.5 months each time until the service is restored?

Btce answering to "verification" question.

DNS = Donetsk Republic (in the Ukraine)
torus = TOR

bonker

hero member

Activity: 784

Merit: 502

Quote from: mayax on August 14, 2017, 06:53:31 PM

Quote from: Error 522 on August 14, 2017, 05:59:26 PM

Quote from: mayax on August 14, 2017, 05:34:32 PM

Quote from: 1Referee on August 14, 2017, 05:14:28 PM

I don't want them to relaunch, I just want them to pay back whatever they have left. Let them just set up a temporary web portal, where people can just withdraw their digital assets, and then BTC-E can relaunch with whatever brand name they feel comfortable with. Only an outright idiot will ever make use of an exchange that is severely affiliated with BTC-E. They state that they are negotiating with not to be named investors to finanance the relaunch, lol. I am curious to find out more about how their verification process will be forced through.

there are SO many idiots... LOL see how many are using Poloniex, Bitfinex and similar others even they lost funds with BTC-e . it's well known that these exchangers will be NEXT

it's without words....

SOON you will crawl back into your hole spider Kiss

keep dreaming. BTC-e will never be back and they will return zero funds.

^^^ Metroid

YesLOST

newbie

Activity: 56

Merit: 0

Quote from: erk on August 15, 2017, 01:01:39 AM

Quote from: YesLOST on August 15, 2017, 12:49:34 AM

No, after last update it is clear, everybody gets his "balance currency". E.g. Coin holder gets 55% coins and Fiat holder gets 55% fiat. Then you can do whatever you want or what is possible with your balance.

How are they going to get 55% fiat when OKPAY effectively stole the BTC-e fiat with no signs of it coming back?

Well, as I wrote earlier, fiat holders are fucked. Btce is probably putting up buy orders for fiat with their remaining coins at today's exchange rate, e.g. they put up an order with 50.000 bitcoins for sale after distributing the 55% to coin holders. As there will be more fiat than btc, be ready to buy nvc for $20 or more.

erk

hero member

Activity: 826

Merit: 500

Quote from: YesLOST on August 15, 2017, 12:49:34 AM

No, after last update it is clear, everybody gets his "balance currency". E.g. Coin holder gets 55% coins and Fiat holder gets 55% fiat. Then you can do whatever you want or what is possible with your balance.

How are they going to get 55% fiat when OKPAY effectively stole the BTC-e fiat with no signs of it coming back?

YesLOST

newbie

Activity: 56

Merit: 0

Quote from: R2Pleasent on August 14, 2017, 10:57:24 PM

Quote from: ahmedjadoon on August 14, 2017, 10:19:18 PM

So, no more actual refund for fiat holders? They will be paid 100% in shit tokens?
This is unfair as I never actually deposited fiat. I deposited bitcoin and converted it to USD for trading purpose.

Fiat holders will get a mix of 7 cryptos for 55% of their balance, BTE tokens for other 45%

No, after last update it is clear, everybody gets his "balance currency". E.g. Coin holder gets 55% coins and Fiat holder gets 55% fiat. Then you can do whatever you want or what is possible with your balance.

R2Pleasent

full member

Activity: 139

Merit: 100

Owner@ CryptoFundingTracker.com

Quote from: ahmedjadoon on August 14, 2017, 10:19:18 PM

So, no more actual refund for fiat holders? They will be paid 100% in shit tokens?
This is unfair as I never actually deposited fiat. I deposited bitcoin and converted it to USD for trading purpose.

Fiat holders will get a mix of 7 cryptos for 55% of their balance, BTE tokens for other 45%

erk

hero member

Activity: 826

Merit: 500

Quote from: ahmedjadoon on August 14, 2017, 10:19:18 PM

So, no more actual refund for fiat holders? They will be paid 100% in shit tokens?
This is unfair as I never actually deposited fiat. I deposited bitcoin and converted it to USD for trading purpose.

BTC-e don't have control of their "fiat wallets" anymore. Yes I agree, OKPAY suspending their wallets was unfair.

ahmedjadoon

legendary

Activity: 1414

Merit: 1000

So, no more actual refund for fiat holders? They will be paid 100% in shit tokens?
This is unfair as I never actually deposited fiat. I deposited bitcoin and converted it to USD for trading purpose.

R2Pleasent

full member

Activity: 139

Merit: 100

Owner@ CryptoFundingTracker.com

Quote from: erk on August 14, 2017, 09:50:52 PM

Quote from: R2Pleasent on August 14, 2017, 09:38:42 PM

What makes you people believe they will have USD on the new exchange? Unless they have a reliable way to cash out USD, then 1 USD is the exact same thing as 1 BTE. It's a debt issued by the exchange nominated in USD, that can only be repaid by the exchange. They are not in the same situation Bitfinex was in back when they issued a token, because you could still cash in and out of USD back when Bitfinex got "hacked".

I believe USD holders will be issued a basket of coins, as was discussed in previous updates. I think people have misinterpreted BTC-e on Update 6. Fiat holders will be auto converted to a mix of 7 cryptos.

Which sounds logical when you remember that the BTC-e fiat accounts have been suspended so customers can't get fiat in or out.
They might be able to add RUR or something like that, but USD and EUR are probably finished with for the time being.

Yeah exactly, and in addition, BTC-e said they have assets on hand to refund 55% of the fiat users' balances. By assets they can never mean issuing people fictional USD tokens that they create out of thin air and you can't cash out. That's not an asset Cheesy

That's a debt token.

erk

hero member

Activity: 826

Merit: 500

Quote from: R2Pleasent on August 14, 2017, 09:38:42 PM

What makes you people believe they will have USD on the new exchange? Unless they have a reliable way to cash out USD, then 1 USD is the exact same thing as 1 BTE. It's a debt issued by the exchange nominated in USD, that can only be repaid by the exchange. They are not in the same situation Bitfinex was in back when they issued a token, because you could still cash in and out of USD back when Bitfinex got "hacked".

I believe USD holders will be issued a basket of coins, as was discussed in previous updates. I think people have misinterpreted BTC-e on Update 6. Fiat holders will be auto converted to a mix of 7 cryptos.

Which sounds logical when you remember that the BTC-e fiat accounts have been suspended so customers can't get fiat in or out.
They might be able to add RUR or something like that, but USD and EUR are probably finished with for the time being.

xmonkx

newbie

Activity: 8

Merit: 0

Quote from: Old_Timer on August 14, 2017, 05:51:44 PM

BTC-E is coming back to wipe all of your bitches ass.

I suggest Terminator skull for new LOGO

Terminator skull +1

R2Pleasent

full member

Activity: 139

Merit: 100

Owner@ CryptoFundingTracker.com

What makes you people believe they will have USD on the new exchange? Unless they have a reliable way to cash out USD, then 1 USD is the exact same thing as 1 BTE. It's a debt issued by the exchange nominated in USD, that can only be repaid by the exchange. They are not in the same situation Bitfinex was in back when they issued a token, because you could still cash in and out of USD back when Bitfinex got "hacked".

I believe USD holders will be issued a basket of coins, as was discussed in previous updates. I think people have misinterpreted BTC-e on Update 6. Fiat holders will be auto converted to a mix of 7 cryptos.

Topic: BTC-e hacked ?? - page 40. (Read 199718 times)