So it's basically a site, that tries to seem as if it would actually do trades, but in fact just have your BTC laying around, probably waiting to accumulate enough and then run?
Or did I get it totally wrong?
Thanks for the warning though. As more and more scam sites show up lately (http://www.bitcointalks.com & many more), maybe it's time to start collecting known scam sites on a sticky thread?
Topic: Icbit.se, the bucket shop. - page 3. (Read 7946 times)
Find the whole story here: Icbit.se, the bucket shop.
tl;dr: icbit btc future contract is settled at 22:00 each day. The site puts in fake orders at time of settlement, refuses customer orders at that time and enforces an arbitrarily small price (> 1 dollar under spot) to blow out margins. The site also reports fake volume.
You can either comment there and get answers from Mircea Popescu himself or comment here and I'll do my best to answer.
tl;dr: icbit btc future contract is settled at 22:00 each day. The site puts in fake orders at time of settlement, refuses customer orders at that time and enforces an arbitrarily small price (> 1 dollar under spot) to blow out margins. The site also reports fake volume.
You can either comment there and get answers from Mircea Popescu himself or comment here and I'll do my best to answer.
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