in early stages of bitcoin era, the war on exchanges has started doing victims

solex

legendary

Activity: 1078

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100 satoshis -> ISO code

Quote from: Richy_T on April 18, 2013, 04:38:29 PM

It is definitely the case that the weak-spot for Bitcoin currently is the need for interaction with the banks, the very entities which stand to lose a lot if Bitcoin succeeds.

Yes. Which is why the solution lies in 1-way transfers, i.e. people only need to get out of fiat once and stay invested in Bitcoin.
This becomes more viable when more business accept Bitcoin. Fortunately, the trend is sharply up, every day more websites and brick-and-mortar shops are accepting it. After a few years the rolling snowball will be an avalanche!

Anon136

legendary

Activity: 1722

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Quote from: kokjo on April 17, 2013, 05:26:50 PM

I CAN'T GET MY MONEY BACK! SELL SELL SELL! ARRRHRHRHRH!!!

what... why would they sell if they cant get their money back? this is bonkers.

donjoe

full member

Activity: 183

Merit: 100

Quote from: wonkytonky on April 18, 2013, 01:52:32 PM

basicaly.. bitcoin24 will come back !

Apparently, yes - a lot of people have gotten their BTC back this week, including me.

Now what remains is the "small" matter of a few million EUR that are still stuck in the banks.

Richy_T

legendary

Activity: 2576

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1RichyTrEwPYjZSeAYxeiFBNnKC9UjC5k

It is definitely the case that the weak-spot for Bitcoin currently is the need for interaction with the banks, the very entities which stand to lose a lot if Bitcoin succeeds.

hacknoid

sr. member

Activity: 418

Merit: 252

Proud Canuck

Quote from: navigator on April 18, 2013, 03:33:19 PM

I prefer virwox. Been using them since last Nov for buying and light trading. They have been around since before bitcoin. I believe they could be the most trustworthy exchange. If i'm in a hurry to get bitcoins, I can get them within 5mins.

P.S. Someone just made a buy up to about $150 on virwox. I guess they really needed their coins lol. It caught one of my sells around $145, guess I'm looking to buy again Grin

Their prices are always about 10-20% higher than Gox in equivalent $. Never understood why... but if you are looking to sell and can get the money out (you can actually use Paypal to get the money into/out of virwox) its a good route.

seleme

legendary

Activity: 2772

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Duelbits.com

Quote from: navigator on April 18, 2013, 03:33:19 PM

I prefer virwox. Been using them since last Nov for buying and light trading. They have been around since before bitcoin. I believe they could be the most trustworthy exchange. If i'm in a hurry to get bitcoins, I can get them within 5mins.

P.S. Someone just made a buy up to about $150 on virwox. I guess they really needed their coins lol. It caught one of my sells around $145, guess I'm looking to buy again Grin

virvox is good to send fiat there and to sell coins. Their fees are big, specially since ssl has to be bought first.

EuroTrash

hero member

Activity: 728

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Quote from: dbc_amp on April 18, 2013, 03:45:49 PM

Quote from: EuroTrash on April 18, 2013, 03:30:12 PM

Quote from: dbc_amp on April 18, 2013, 03:05:58 PM

Quote from: EuroTrash on April 18, 2013, 12:27:51 PM

updated thread with MtGox SEPA delays and Bank of America issues.

Update it again. This morning my SEPA transfer arrived. Less than 48h, as always.

Done. But mine didn't, and it's already 6 days.

Are you a verified user? Government issued ID with photo + utility Bill.

Dude, I don't mean offense but you remind me of the Indian guy from my ISP support telling me on the phone to try and reboot the router.

dbc_amp

newbie

Activity: 17

Merit: 0

Quote from: EuroTrash on April 18, 2013, 03:30:12 PM

Quote from: dbc_amp on April 18, 2013, 03:05:58 PM

Quote from: EuroTrash on April 18, 2013, 12:27:51 PM

updated thread with MtGox SEPA delays and Bank of America issues.

Update it again. This morning my SEPA transfer arrived. Less than 48h, as always.

Done. But mine didn't, and it's already 6 days.

Are you a verified user? Government issued ID with photo + utility Bill.

navigator

sr. member

Activity: 362

Merit: 250

I prefer virwox. Been using them since last Nov for buying and light trading. They have been around since before bitcoin. I believe they could be the most trustworthy exchange. If i'm in a hurry to get bitcoins, I can get them within 5mins.

P.S. Someone just made a buy up to about $150 on virwox. I guess they really needed their coins lol. It caught one of my sells around $145, guess I'm looking to buy again Grin

EuroTrash

hero member

Activity: 728

Merit: 500

Quote from: dbc_amp on April 18, 2013, 03:05:58 PM

Quote from: EuroTrash on April 18, 2013, 12:27:51 PM

updated thread with MtGox SEPA delays and Bank of America issues.

Update it again. This morning my SEPA transfer arrived. Less than 48h, as always.

Done. But mine didn't, and it's already 6 days.

dbc_amp

newbie

Activity: 17

Merit: 0

Quote from: EuroTrash on April 18, 2013, 12:27:51 PM

updated thread with MtGox SEPA delays and Bank of America issues.

Update it again. This morning my SEPA transfer arrived. Less than 48h, as always.

Richy_T

legendary

Activity: 2576

Merit: 2267

1RichyTrEwPYjZSeAYxeiFBNnKC9UjC5k

Quote from: EuroTrash on April 18, 2013, 02:43:06 PM

Not that easy. You can't unblock a bank account with a litigation in progress.
But he just spoke to his lawyer - who for the first time gave him some hope, so he is on a high.

This Simon guy desperately needs a holiday.

The bitcoins of mine that I can't access don't require a bank. And I only have/had a few there. I can only imagine what those with substantial funds tied up feel like.

EuroTrash

hero member

Activity: 728

Merit: 500

Quote from: keewee on April 18, 2013, 02:22:58 PM

Quote from: wonkytonky on April 18, 2013, 01:52:32 PM

Die Gründe für die Schließung unserer Konten durch internationale Großbanken sind uns nun bekannt und rechtlich mehr als fragwürdig. Unsere Rechtsanwälte gehen mit aller Konsequenz gegen dieses Verhalten vor. Wir gehen davon aus, dass wir kurzfristig wieder vollständig handlungsfähig sind und alle Geschäfte mit noch größerem Engagement im Sinne aller Nutzer vorantreiben können. Die Sorgen der Großbanken sind uns ein zusätzlicher Ansporn dabei! Wir werden sie zeitnah über die weitere Entwicklung informieren.
(English this evening)

basicaly.. bitcoin24 will come back !

Google Translate: The reasons for the closing of our accounts with major international banks are now known to us and legally more than questionable. Our lawyers go before the full consequences to this behavior. We assume that we are ready again fully operational and all transactions can drive with even greater commitment on behalf of all users. The concerns of the major banks are us an additional incentive there! We will inform you promptly of further development.

Not that easy. You can't unblock a bank account with a litigation in progress.
But he just spoke to his lawyer - who for the first time gave him some hope, so he is on a high.

This Simon guy desperately needs a holiday.

keewee

legendary

Activity: 1025

Merit: 1000

Quote from: wonkytonky on April 18, 2013, 01:52:32 PM

Die Gründe für die Schließung unserer Konten durch internationale Großbanken sind uns nun bekannt und rechtlich mehr als fragwürdig. Unsere Rechtsanwälte gehen mit aller Konsequenz gegen dieses Verhalten vor. Wir gehen davon aus, dass wir kurzfristig wieder vollständig handlungsfähig sind und alle Geschäfte mit noch größerem Engagement im Sinne aller Nutzer vorantreiben können. Die Sorgen der Großbanken sind uns ein zusätzlicher Ansporn dabei! Wir werden sie zeitnah über die weitere Entwicklung informieren.
(English this evening)

basicaly.. bitcoin24 will come back !

Google Translate: The reasons for the closing of our accounts with major international banks are now known to us and legally more than questionable. Our lawyers go before the full consequences to this behavior. We assume that we are ready again fully operational and all transactions can drive with even greater commitment on behalf of all users. The concerns of the major banks are us an additional incentive there! We will inform you promptly of further development.

wonkytonky

sr. member

Activity: 411

Merit: 250

Die Gründe für die Schließung unserer Konten durch internationale Großbanken sind uns nun bekannt und rechtlich mehr als fragwürdig. Unsere Rechtsanwälte gehen mit aller Konsequenz gegen dieses Verhalten vor. Wir gehen davon aus, dass wir kurzfristig wieder vollständig handlungsfähig sind und alle Geschäfte mit noch größerem Engagement im Sinne aller Nutzer vorantreiben können. Die Sorgen der Großbanken sind uns ein zusätzlicher Ansporn dabei! Wir werden sie zeitnah über die weitere Entwicklung informieren.
(English this evening)

basicaly.. bitcoin24 will come back !

Chalkbot

legendary

Activity: 896

Merit: 1001

Quote from: donjoe on April 18, 2013, 01:24:45 PM

Quote from: Chalkbot on April 17, 2013, 05:25:16 PM

How could you lose faith in bitcoin when it's entire purpose is to protect against a governing entity severing you from your cash... and that is exactly what is happening here. Bitcoin withdrawls still functioning normally!

Errr, NO, they're not still functioning normally. Currently all my BTC are stuck in bitcoin-24.com's coldwallet(s) because somehow the baseless legal action taken against Simon has not only left him without access to his fiat accounts but also determined(?) him to stop processing BTC withdrawals.

If your BTC can get stuck inside or disappear together with an exchange's wallets, how is this better than using fiat and banks? And if numerous customers can lose their BTC instantly when their exchange collapses, how are they supposed to ever trust anyone with their BTC ever again? This is what all the wide-eyed "Libertarians" don't understand about their precious completely-free-market type systems: they either suffer from huge trust issues or gradually develop more and more state-like security solutions (typically the second, because most people like a good dose of security in their lives).

Sorry, I had not heard that bit of news. It is worrisome, but I wonder how exactly this is being enforced? I would be suspicious of the exchange that doesn't just restore the backup and give everyone their coins.

MykelJH

newbie

Activity: 42

Merit: 0

Quote from: Slix on April 18, 2013, 12:53:26 PM

Quote from: kokjo on April 18, 2013, 10:52:07 AM

Quote from: dg2010 on April 18, 2013, 10:50:52 AM

Quote from: kokjo on April 17, 2013, 05:17:20 PM

if current system is too bad, go use person-2-person transactions.

Because that's so easy to do right? Wake up. Bitcoin will die a slow death if the only thing left is P2P exchange.

no it wil not.

How do you plan on getting the merchants and average non-tech savvy Joe onboard with using bitcoin as their main form of currency if they have to jump through hoops to get some in or out?

Believe it or not the rest of the world outside the (pretty small) bitcoin community very much runs on fiat. If you don't make this easy as hell as in the click of a button or an ATM machine screen, then they won't get onboard. Nobody will take it seriously and it will remain traded by just a bunch of "geeks and hackers" as the MSM puts it.

Exchanges are the key to this and our current Achilles' heel vs banks and governments until the world is free of fiat.

This is how I feel as I fit the average joe that isn't tech savvy at all. I find it overwhelming still, but still sticking with it mainly because I love e idea and see the potential. I cannot say the same with people I have talked too about it, I get em excited they see how much work it is and then get bored

donjoe

full member

Activity: 183

Merit: 100

Quote from: Chalkbot on April 17, 2013, 05:25:16 PM

How could you lose faith in bitcoin when it's entire purpose is to protect against a governing entity severing you from your cash... and that is exactly what is happening here. Bitcoin withdrawls still functioning normally!

Errr, NO, they're not still functioning normally. Currently all my BTC are stuck in bitcoin-24.com's coldwallet(s) because somehow the baseless legal action taken against Simon has not only left him without access to his fiat accounts but also determined(?) him to stop processing BTC withdrawals.

If your BTC can get stuck inside or disappear together with an exchange's wallets, how is this better than using fiat and banks? And if numerous customers can lose their BTC instantly when their exchange collapses, how are they supposed to ever trust anyone with their BTC ever again? This is what all the wide-eyed "Libertarians" don't understand about their precious completely-free-market type systems: they either suffer from huge trust issues or gradually develop more and more state-like security solutions (typically the second, because most people like a good dose of security in their lives).

Slix

newbie

Activity: 49

Merit: 0

Quote from: kokjo on April 18, 2013, 10:52:07 AM

Quote from: dg2010 on April 18, 2013, 10:50:52 AM

Quote from: kokjo on April 17, 2013, 05:17:20 PM

if current system is too bad, go use person-2-person transactions.

Because that's so easy to do right? Wake up. Bitcoin will die a slow death if the only thing left is P2P exchange.

no it wil not.

How do you plan on getting the merchants and average non-tech savvy Joe onboard with using bitcoin as their main form of currency if they have to jump through hoops to get some in or out?

Believe it or not the rest of the world outside the (pretty small) bitcoin community very much runs on fiat. If you don't make this easy as hell as in the click of a button or an ATM machine screen, then they won't get onboard. Nobody will take it seriously and it will remain traded by just a bunch of "geeks and hackers" as the MSM puts it.

Exchanges are the key to this and our current Achilles' heel vs banks and governments until the world is free of fiat.

EuroTrash

hero member

Activity: 728

Merit: 500

updated thread with MtGox SEPA delays and Bank of America issues.

Topic: in early stages of bitcoin era, the war on exchanges has started doing victims (Read 6101 times)