Topic: HitBTC.com - The most advanced cryptocurrency exchange - page 93. (Read 109463 times)

IF there are many (real) people producing volume ...

Honestly, I dont personally trade any real money on this exchange and the only reason I am using it now is because of the contest. The point of the contest was to get more users to use the site. So more users are coming. If there are red flags tho they should be posted somewhere in an organized placed that can be referenced.

This is starting to get rather amusing.

a contest in trading for monopoly money is getting more attention from people registered at bitcointalk.org than a long row of red flags concerning the trade for actual money on a btc exchange with high volume?

So all the (real) people producing that volume on the real exchange are not interested to talk about real red flags on bitcointalk.org?
That is funny. and I somehow think it is not very likely.

well after now reading what you wrote you have made it alot worse. I would highly recommend users against using your site. The fact that you just clearly said you picked out users who had high balances and those were the ones you reset is showing that you basically decided to just reset all the users who were trading/using your site often and often enough to see a huge price drop. You are basically punishing users for being on your site too much.

As I said the correct and fair way is to reset the contest, or to reverse all trading prior to the cheating taking place. Otherwise you are as I stated prior encouraging users against being on your site often, and trading often. In either case it is your sites fault 100% and you should not be punishing users for what has happened.

Dear shantee and starsoccer9,

First of all we would like to apologize for the delay with answering you. We really understand your feelings and we understand that you are concerned about a possible hack of our system.
Secondly we would like to be clear - this is not a hack. We have analyzed the trades made in demo mode and found out there happened to be a so-called "cheating" - a way to get a reward in a sinister manner.
starsoccer9 has already described what has happened: a contestant figured out it is possible to use another "hitbtc" demo account with unlimited deposit and decided to use this option to influence the market price and gain a huge profit. This has happened due to the fact that the contest runs on the same feed as the demo-mode and it is technically impossible to separate the feeds. We repeat ourselves - this is not a hack as our security system was not exploited and the whole exchange was not modified. Also, our customers' data is safe.

Unfortunately, we were forced to ban some users but we assure you that we only suspended the demo accounts of contestants with abnormally high profit.
Thirdly we would like to say that although according to the Rules a user may take part in the competition only once we make concessions and suspended honest contestants may enter the challenge again with the initial deposit and prove they are the best traders.

Thank you for choosing our service,
The "hitbtc" team

When they say cheated I think what really happened was that someone figured out that in the demo account they could add as much money as they wanted. So someone did this and massively dumped money on the market which was the same virtual market as the contest market. This then affected the price.

I 100% agree that this is there fault and yes I understand them not wanted to give prizes to people who profited from that but the only reasonable way to continue the contest is to revert all trading to before the cheating as it was called, took place or completely redo the contest. Other wise you are disqualifying people who simply traded as per your rules but happened to be trading at the right time to make a huge profit.

by the way, I am sorry to insist but I believe the word "cheating" is totally inappropriate and not fair !


No contestant cheated ! Unless you were hacked and you did not tell anybody ?

we bought and sale at the price displayed on your chart on YOUR website...I believe that is called trading ??

+1 I was in the same exact situation as I said in my post. There system messed up big time and they are punishing the users who profited and even sent them emails to warn them of the situation.

hello hibtc,

I would first like to start off by posting publicly about the horrendous support you have. I have emailed your support 2 times and even PMed your account here and have gotten no response.

I also participated in the challenge and from reading the above posts it sounds to me as tho you have decided that due to your incompetence to take it out on demo traders who used the opportunity to profit. Know I have to in the last 9 days of the month figure out a way to make many trades in order to win a prize because you guys decided to wipe all accounts rather then just the users who physically did the cheating. I was trading when what you call suspicious activity took place and make a huge amount of profit from this. You are punishing users who participated unknowingly and even forcing users to restart when all they did was participate in your contest. For theses reason I will not be using your site ever again as if you are willing to basically erase balances which is what you did I can see you doing the same thing with real balances when a hack or problem does occur and other users "participate" or become involved in it unknowingly. The correct way to deal with this is to simply undo all the trades leading up to the incident as BTC-E has done in the past. In any case as soon as it happened I begain thinking about what must have happened, I realized that either it was a hack, or someone made multiple demo accounts and right away I should send you an email to make you aware of the possible hack as better safe then sorry. This was on may 17th and since that email I have gotten no response.

Edit: Surprise surprise just got an email response

So ...about this challenge ? Have you got anything to say ?
I know it might not be such a big deal compared to the other problems other members mentioned but still I invested some time following it and since I had really good hope of winning (my nick was on top of the leader board with 2 badges! Oddly enough it is now ranked at the end of the list ). I  feel like this trader challenge is either not honest or very buggy (and I am sorry to say it but it doesn't make me feel confident putting some real money if such "small things" can't be taken care of or explained).


I sent a support message that is still unanswered , here is a copy :




+ Can you explain this ?

This is what I have won during this challenge :

http://www.bitcoinpriceforecast.com/trader2.jpg

Why in the leaderboard the number next to my nickname (shantee) says - 10.000 ?  and why is it last when it should be first ?


+ An other thing in the rules page it was said the challenge was to end the 1st of june but now the front page displays :

" Challenge is over! "

Is it an other bug or once again you just break the rules you fixed ?


Sorry, I wanted to post it but it looks like you reacted before me.
Well thank you for answering my questions.

So basically it is a bug from you system that caused my "loss" ? a bug that occurred many time by the way (just looking at the chart.

 
Actually I don't think this is fair for anybody (and not fair for myself too). I believe you should correct your system  ,admit there was some technical problem and redo it (imo)

an other screenshot :

http://www.bitcoinpriceforecast.com/hitbtc1.jpg

Dear shantee,

We have noticed a suspicious activity in the challenge and have already prevented this from happening again.
We are sorry for the inconvenience caused and we do understand your concern, but we were forced to ban many users from participating in the challenge. Even if you were not cheating most probably you have used the option to trade at the non-market price and it's unfair in respect to honest players.
That is why we have restricted demo-users from influencing the price.

You can take part in the competition once again with the initial deposit and you still have time to win the competition!

Thank you for choosing our service,
The "hitbtc" team

Dear bjernvig,

Yes, you can send a mail to this address and it will be delivered to us.

Thank you for choosing our service,
The "hitbtc" team

Hi Hitbtc,

I will be looking forward to receiving the email from you.

However, after so many bitcoin services/exchanges have disappeared with people's money, I only think it is fair that we are critical and want to know the businesses we are trusting our funds with.

Since you claim to be honest, can you verify that if I send a written letter to Ørestads boulevard 73, 2300 Copenhagen South, it would actually be delivered to you?

Thanks!

As I admire you to answer to the suspicions raised by several sources, I don't think your arguments are sufficient to get rid of them. Instead of just claiming that your volume is real you should explain why your volume is behaving so obviously different than that of all other exchanges:
- Why has your daily volume been constant for weeks while each other exchange is fluctuating with news / trends?
- Why does your intraday-volume show a flatline of many many trades below 1 btc (and nearly no one higher) while that of every other exchange shows a fluctuating number of trades with many of them above 1 btc?

Someone made an album on imgur with his analyses of the comparison of your volume and that of bitstamp / kraken:
http://imgur.com/a/aUMBV

Dear bjernvig,

The company is legitimate, we abide by all the rules and we assume that this is an unfair attack on an exchange providing an honest and reliable service.
As we already mentioned we have received an e-mail from you and our representative will answer you.

Thank you for choosing our service,
The "hitbtc" team

Dear C. Bergmann,

As we have previously mentioned - the "hitbtc" order volume is not manipulated.
Market makers having huge rebates and therefore the volume is rising.

Thank you for choosing our service,
The "hitbtc" team

About the order volume being fake...

I don't know about the real volume..But all I can say is that their demo account volume and their "trader's challenge" I have been participating is kinda weird and really looks manipulated..

I should have won this challenge ! for some reason I have been ranked at the end of the list.

Hi hitbtc,

Would you be interested in a signature ad campaign? I have 6000+ posts and can also change my custom title to advertise your exchange

Dear bjernvig,

Thank you for contacting us!
We have received your e-mail and our representative will get back to you soon.

Thank you for choosing our service,
The "hitbtc" team

Dear angelamerkel,

The "hitbtc" order volume is not manipulated.
If you have any doubts about us being able to fulfill contracts, please do not hesitate to check it out yourself and see the opposite.

We are always here to help you, so please feel free to contact us if you have any inquiries.

Thank you for choosing our service,
The "hitbtc" team