BTC-e no longer dealing with US banks or customers

Trance

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Quote from: CompNsci on November 03, 2015, 06:41:35 PM

While they have not formally announced it, BTC-e recently stated to me that they are no longer dealing with US banks or customers.

This would explain the lower price of BTC on that exchange as USD would be relatively more scarce there.

I got scammed by BTC-E years ago and saw this coming!

They just took off with my funds in a "selective-scamming" manner and that was it... Bank said im SOL of course and of course I'm still SOL.

Mickeyb

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Move On !!!!!!

Quote from: Triple on November 03, 2015, 07:38:42 PM

That's actually really bad news for BTC. Do you kno why that's the case? If it happens in the near future, I can see a negative impact on the overall price.

It's all about the regulation. America wants to control everything about the money and especially a disruptive technology like Bitcoin is. They don't want people wiring money to some hidden exchange our there, it's that simple.

They are probably going by the fact that US customers have several options now to buy bitcoins, from Coinbase, Gemini, Circle, etc.

ajareselde

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Satoshi is rolling in his grave. #bitcoin

Quote from: CompNsci on November 03, 2015, 06:41:35 PM

While they have not formally announced it, BTC-e recently stated to me that they are no longer dealing with US banks or customers.
This would explain the lower price of BTC on that exchange as USD would be relatively more scarce there.

The prices there are always lower than those on the other exchanges. It's sort of like a hub for all those who day trade when large swings are happening.
Traders there just mimic the buy and sell waves of btcchina and okcoin, so it's not hard to earn a buck there trading.
In regards to US banks, there's a bunch of people complaining about funds not being credited from western banks, so the news are not a surprise really.

NorrisK

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Btc-e has been quite ok for me. That is I only use it to buy and sell ltc and nmc for btc.

USD and euro withdrawal costs were just insane, at least two years ago that I never considered it a serious contender to get fiat out of bitcoin.

Slark

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Quote from: Triple on November 04, 2015, 02:16:44 PM

Quote from: Dafar on November 04, 2015, 02:09:05 PM

So wait.... what will happen to all my BTC and LTC that I have on BTC-E?

Can I still send over my BTC to Coinbase?

BTC-E has a very good track record so I'm pretty sure you will still have access to them. However, they could turn into Mt.Gox 2.0 so I'd move them somewhere else just to be safe.

Mt.Gox was the biggest exchange of its time. Their volume was unparalleled. BTC-e handles 2.5% of all Bitcoin exchange volume it is nothing in comparison to Mt.Gox.
What is positive about them is fact that they are working since July 2011 without problems.

Triple

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Quote from: Dafar on November 04, 2015, 02:09:05 PM

So wait.... what will happen to all my BTC and LTC that I have on BTC-E?

Can I still send over my BTC to Coinbase?

BTC-E has a very good track record so I'm pretty sure you will still have access to them. However, they could turn into Mt.Gox 2.0 so I'd move them somewhere else just to be safe.

saddampbuh

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btc always used to be lower priced i guess due to being seen as "shady" and has always been mostly uk/european/russian users, this isnt a big deal

Quote from: franky1 on November 03, 2015, 07:35:11 PM

i know a few months ago they dropped the UK £..

but if they are going to drop the dollar...

they aren't dropping $ and they only dropped £ because it had low volume and there was no point, uk users can still send money there with no problems, their bank forces them to not deal with us customers which really means us banks, americans can buy on coinbase or where ever and send btc there to trade if they want to

Quote from: Dafar on November 04, 2015, 02:09:05 PM

So wait.... what will happen to all my BTC and LTC that I have on BTC-E?

Can I still send over my BTC to Coinbase?

your btc and ltc are fine, you just cant send or withdraw fiat with us banks due to bullshit regulations

Dafar

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dafar consulting

So wait.... what will happen to all my BTC and LTC that I have on BTC-E?

Can I still send over my BTC to Coinbase?

USB-S

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In XEM we trust

The price is going trough the roof regardless of this news.

Amph

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it has to do with the new law of new york and general restrictions that there are there?

makcik

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Btc-e was earlier used for transactions and as a currency in US banks also. USA had understood that bitcoins are important for them so they had put it as permitted in banks for customers, but seeing some cases of kidnaps and bitcons being declared illegal in Taiwan, they had stopped dealing in bitcoins. USA has been a huge market for bitcoins and this is a loss to bitcoins currency. Let's hope banks in USA start dealing in bitcoins too.

maku

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Quote from: CompNsci on November 03, 2015, 06:41:35 PM

While they have not formally announced it, BTC-e recently stated to me that they are no longer dealing with US banks or customers.

This would explain the lower price of BTC on that exchange as USD would be relatively more scarce there.

Why would you want to trade on BTC-e in the first place? They have no big volume, they prices are lower and they are not transparent.
It is like 2nd grade exchange there are many better services if you want to trade in USD.

eGuru

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If anybody finds an article or hears anything on this can you pass along please. Grin

eGuru

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Quote from: AmDD on November 03, 2015, 08:05:40 PM

Where else does everyone trade? I don't have any USD in btc-e but this makes me a bit uneasy. I went to btc-e orininally for the bitcoin/litecoin/feathercoin/primecoin trading, however only half those exist there now. I do have a cryptsy account but have never traded anything but alts there.

I trade on Bitfinex. I dont fund through there but i do margin trade on it. They allow short trading as well so not sure if that's an option for you but I prefer to make money no matter which way the market is going.

Luqman

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Such a sad news for us.. Angry

AmDD

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Where else does everyone trade? I don't have any USD in btc-e but this makes me a bit uneasy. I went to btc-e orininally for the bitcoin/litecoin/feathercoin/primecoin trading, however only half those exist there now. I do have a cryptsy account but have never traded anything but alts there.

Lauda

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Terminated.

Quote from: Velkro on November 03, 2015, 07:50:21 PM

That would be bad for bitcoin world, price would plummet.
Same thing with mt gox before, price was very diffirent than other exchanges, then crash. Hope its not mt gox 2

Wrong. Stop spreading nonsense. BTC-e is nothing compared to MtGox, nothing! MtGox was the leader of it's time. BTC-e is minor compared to Bitstamp, Bitfinex or Huobi. Compare the weekly volumes and you shall see why. I never understood why anyone would even trade on BTC-e. They seem shady at best to me.

visual111

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I think insiders understand the nature of bitcoin exchanges and how some run fractional reserve. it would have a short term unpleasant effect, but long term i don't see a major issue. eventually, someone will come up with a solution to this problem. supernet's instadex is attempting to fix this with a decentralized exchange service. we'll see if it is executed....currently in beta testing

Velkro

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That would be bad for bitcoin world, price would plummet.
Same thing with mt gox before, price was very diffirent than other exchanges, then crash. Hope its not mt gox 2

franky1

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Quote from: Triple on November 03, 2015, 07:38:42 PM

That's actually really bad news for BTC. Do you kno why that's the case? If it happens in the near future, I can see a negative impact on the overall price.

although volume is mid range. most of the bitcoin price averagers/estimators never really took btc-e seriously..

but lets hope the naive traders dont try dropping coinbase, bitstamp or bitfinex, based purely on BTC-E fake action.
luckily when mtgox crashed due to their dollar issues... the other exchanges stopped sheep following mtgox, and thus avoided all of the exchanges going down to $100.. it was kind of impressive that pretty much overnight peoples idea's changed and adapted toignore mtgox

Topic: BTC-e no longer dealing with US banks or customers (Read 1510 times)