Topic: CoinLab should move on and create a new US Market - page 2. (Read 2239 times)

Quote from: epetroel on May 03, 2013, 12:09:30 PM

We already have one US exchangers no one seems to be using - campbx.com (1% volume of gox).

Problem is who knows when it will pull a "bitfloor" or ZhouTonged when it gains popularity, I would put money at a company that has VC support (coinbase, coinlab). They are less likely to have their bank account banned for playing exchange as a teenager, or get hacked due to lack of technical expertise.

Agreed. For me a legitimate exchange must be insured or bonded and be licensed as a money transmitter. FinCen has already stated that exchanges are going to need this. Any new startups that think they can avoid such regulation are not going to survive.

It sucks to see guys who deserve credit get none.

CampBX.com is one of the only exchanges to never be hacked, as far as I know. They made security part of their image from day 1. They seem to be the epitome of responsibility and honesty. They have been around now for what well over a year? Without a single incident.

As for regulation the FinCEN guidance is taking the entire Bitcoin community a while to digest, at least those based out of the US.

Other than Gox and Intersango (which hardly exists anymore) I believe they are the oldest exchange that's still around. I started trading there in July of 2011.

I've never used campbx before, but after reading this thread I decided to give it a try, so I moved some money off MtGox and onto CampBX, let's see how it goes.

Nice!

As I said before as a community we should make a conscious effort to support more exchanges. Centralization, 80% of all trades at one exchange, is a weakness. It's a weakness economically - note the price drop on the Gox lawsuit, or ddos, etc. - and it's a weakness from a security and regulation standpoint.

Peter Lambert

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It's all fun and games until somebody loses an eye

We already have one US exchangers no one seems to be using - campbx.com (1% volume of gox).

Problem is who knows when it will pull a "bitfloor" or ZhouTonged when it gains popularity, I would put money at a company that has VC support (coinbase, coinlab). They are less likely to have their bank account banned for playing exchange as a teenager, or get hacked due to lack of technical expertise.

Agreed. For me a legitimate exchange must be insured or bonded and be licensed as a money transmitter. FinCen has already stated that exchanges are going to need this. Any new startups that think they can avoid such regulation are not going to survive.

It sucks to see guys who deserve credit get none.

CampBX.com is one of the only exchanges to never be hacked, as far as I know. They made security part of their image from day 1. They seem to be the epitome of responsibility and honesty. They have been around now for what well over a year? Without a single incident.

As for regulation the FinCEN guidance is taking the entire Bitcoin community a while to digest, at least those based out of the US.

Other than Gox and Intersango (which hardly exists anymore) I believe they are the oldest exchange that's still around. I started trading there in July of 2011.

I've never used campbx before, but after reading this thread I decided to give it a try, so I moved some money off MtGox and onto CampBX, let's see how it goes.

epetroel

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Quote from: RodeoX on May 03, 2013, 11:41:33 AM

We already have one US exchangers no one seems to be using - campbx.com (1% volume of gox).

Problem is who knows when it will pull a "bitfloor" or ZhouTonged when it gains popularity, I would put money at a company that has VC support (coinbase, coinlab). They are less likely to have their bank account banned for playing exchange as a teenager, or get hacked due to lack of technical expertise.

Agreed. For me a legitimate exchange must be insured or bonded and be licensed as a money transmitter. FinCen has already stated that exchanges are going to need this. Any new startups that think they can avoid such regulation are not going to survive.

It sucks to see guys who deserve credit get none.

CampBX.com is one of the only exchanges to never be hacked, as far as I know. They made security part of their image from day 1. They seem to be the epitome of responsibility and honesty. They have been around now for what well over a year? Without a single incident.

As for regulation the FinCEN guidance is taking the entire Bitcoin community a while to digest, at least those based out of the US.

Other than Gox and Intersango (which hardly exists anymore) I believe they are the oldest exchange that's still around. I started trading there in July of 2011.

acoindr

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Quote from: CompNsci on May 03, 2013, 10:56:35 AM

We already have one US exchangers no one seems to be using - campbx.com (1% volume of gox).

Problem is who knows when it will pull a "bitfloor" or ZhouTonged when it gains popularity, I would put money at a company that has VC support (coinbase, coinlab). They are less likely to have their bank account banned for playing exchange as a teenager, or get hacked due to lack of technical expertise.

Agreed. For me a legitimate exchange must be insured or bonded and be licensed as a money transmitter. FinCen has already stated that exchanges are going to need this. Any new startups that think they can avoid such regulation are not going to survive.

It sucks to see guys who deserve credit get none.

CampBX.com is one of the only exchanges to never be hacked, as far as I know. They made security part of their image from day 1. They seem to be the epitome of responsibility and honesty? They have been around now for what over a year? Without a single incident.

As for regulation the FinCEN guidance is taking the entire Bitcoin community a while to digest, at least those based out of the US.

It's true that I had forgotten about CampBX. I will have to take another look at them. Hopefully they are working on becoming a transmitter.

Oh, and +1 to Proudhorn's comment.

I like them. I posted a thread about the community supporting other exchanges besides defaulting to Mt.Gox, and I promised to try myself. CampBX.com I think has a great foundation, but they need to work on usability a bit. Their site isn't smooth feeling to use, and their depth table, with the increasing volume, is now pretty useless in practice. They need a visual chart.

I agree about proudhon's comment too.

mindtomatter

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Hopefully Coinlab will move on and create a new U.S. market, rather than trying to quickly turn a $500k VC investment into $50M of stipulated damages.

Why on earth are they still directing people to Mt. Gox to trade?

Have you read the complaint? We reached out to Coinlab for comment and after reading the complaint I see what the problem is.

1 - Gox signed an exclusivity agreement promising integration and swap-over by march 22 - They did not perform
2 - Gox agreed to provide a number of both physical and digital items - they did not perform
3 - Gox agreed to pay 50M as a non-exclusive penalty if they did not deliver (more can be sought, that's just something they already signed themselves up for)

The complaint is only 12 pages long, if you'd like to give it a read http://www.scribd.com/doc/139281443/Coinlab-v-Mt-Gox

Seems pretty open and shut to me, I've reached out to Mt.Gox for comment but I'll be suprised if they want to talk.

RodeoX

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The revolution will be monetized!

We already have one US exchangers no one seems to be using - campbx.com (1% volume of gox).

Problem is who knows when it will pull a "bitfloor" or ZhouTonged when it gains popularity, I would put money at a company that has VC support (coinbase, coinlab). They are less likely to have their bank account banned for playing exchange as a teenager, or get hacked due to lack of technical expertise.

Agreed. For me a legitimate exchange must be insured or bonded and be licensed as a money transmitter. FinCen has already stated that exchanges are going to need this. Any new startups that think they can avoid such regulation are not going to survive.

It sucks to see guys who deserve credit get none.

CampBX.com is one of the only exchanges to never be hacked, as far as I know. They made security part of their image from day 1. They seem to be the epitome of responsibility and honesty? They have been around now for what over a year? Without a single incident.

As for regulation the FinCEN guidance is taking the entire Bitcoin community a while to digest, at least those based out of the US.

It's true that I had forgotten about CampBX. I will have to take another look at them. Hopefully they are working on becoming a transmitter.

Oh, and +1 to Proudhorn's comment.

acoindr

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We already have one US exchangers no one seems to be using - campbx.com (1% volume of gox).

Problem is who knows when it will pull a "bitfloor" or ZhouTonged when it gains popularity, I would put money at a company that has VC support (coinbase, coinlab). They are less likely to have their bank account banned for playing exchange as a teenager, or get hacked due to lack of technical expertise.

Agreed. For me a legitimate exchange must be insured or bonded and be licensed as a money transmitter. FinCen has already stated that exchanges are going to need this. Any new startups that think they can avoid such regulation are not going to survive.

It sucks to see guys who deserve credit get none.

CampBX.com is one of the only exchanges to never be hacked, as far as I know. They made security part of their image from day 1. They seem to be the epitome of responsibility and honesty. They have been around now for what well over a year? Without a single incident.

As for regulation the FinCEN guidance is taking the entire Bitcoin community a while to digest, at least those based out of the US.

proudhon

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We already have one US exchangers no one seems to be using - campbx.com (1% volume of gox).

Problem is who knows when it will pull a "bitfloor" or ZhouTonged when it gains popularity, I would put money at a company that has VC support (coinbase, coinlab). They are less likely to have their bank account banned for playing exchange as a teenager, or get hacked due to lack of technical expertise.

Agreed. For me a legitimate exchange must be insured or bonded and be licensed as a money transmitter. FinCen has already stated that exchanges are going to need this. Any new startups that think they can avoid such regulation are not going to survive.

And this is exactly why VC interest is more relevant and important than ever. The startup costs of a bitcoin exchange in the US have significantly increased.

RodeoX

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Activity: 3066

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The revolution will be monetized!

We already have one US exchangers no one seems to be using - campbx.com (1% volume of gox).

Problem is who knows when it will pull a "bitfloor" or ZhouTonged when it gains popularity, I would put money at a company that has VC support (coinbase, coinlab). They are less likely to have their bank account banned for playing exchange as a teenager, or get hacked due to lack of technical expertise.

Agreed. For me a legitimate exchange must be insured or bonded and be licensed as a money transmitter. FinCen has already stated that exchanges are going to need this. Any new startups that think they can avoid such regulation are not going to survive.

kokojie

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