Topic: www.BITSTAMP.net Bitcoin exchange site for USD/BTC - page 21. (Read 231282 times)

To me it looks like they run out of fiat. Took out a good few USD over the last few months of 2013, no problem. A couple of days ago a substantially smaller withdrawal got stuck, due to insufficient KYC. Rubbish, I'd say. Some of the questions they asked (ie address of SEPA bank) are already answered by their db. Others make hardly any sense. Not unlike MtGox last summer. The delays got longer and longer, the excuses weaker and weaker. bitstamp came up with KYC, mtgox told people they could only transfer whatever tiny amount per day due to bank restrictions.
When the fiat came surging in, they were able to pay out, now, with people trying to cash out and presumably no fresh money coming in, they struggle... Only thing, they should have got the money at some stage. 

Mates, don't believe you cannot withdraw BTC due to KYC/AML.

I've been saying here in this thread and around backed by the exchange manager of my bank, that BTC is not money and so it is out of the scope of any financial institutions / kyc / aml. It is free of any financial regulation.

Today even the Federal Bank of the United States said that:

"I think it's important to understand that this is a payment innovation that's taking place entirely outside the banking industry," Yellen told Sen. Joe Manchin, D-WV. "The Federal Reserve simply does not have the authority to supervise or regulate Bitcoin in any way."
http://www.usatoday.com/story/money/business/2014/02/27/yellen-bitcoin-senate-testimony/5872039/


Whoever can't withdraw BTC from Bitstamp or any other exchange is being scammed.

Link is garbled. Try this.

I can't help but be curious about this post on reddit:
Bitstamp's bank refused to open me a bank account as soon as I mentioned bitcoin

So, one of the biggest exchanges have their account with a bank that doesn't allow bitcoin businesses.

Statement by Bitstamp regarding Mt Gox insolvency

Bitcoin Is Still Working and Still Has a Bright Future

The worldwide peer-to-peer payment system and crypto-currency known as Bitcoin is not dependant on any one actor. The Bitcoin protocol continues to work exactly as designed. Bitcoin remains strong despite the failure of any one exchange and will continue to grow and thrive as long people desire that it do so.

Losses Limited to Balances at MtGox

It is important to underscore that the losses of fiat currency and Bitcoin are limited to those balances that were in MtGox’s care. The MtGox exchange can best explain how this happened.

Bitstamp Customers are Safe and Our Business is Solvent

We at Bitstamp have conducted a thorough audit of our bitcoin accounts, as well as the fiat currency reserves we maintain in the bank. Bitstamp maintains all of its customers’ bitcoin and cash deposits and nothing is amiss.

Bitstamp is Not Subject to the Transaction Malleability Vulnerability

Bitstamp uses a different protocol to handle problems in closing out its transactions and is not vulnerable to the “transactional malleability” issue that was apparently exploited at Mt. Gox. Additionally, we manually double-check every transactional problem encountered by our customers.

Bitstamp’s Future

We are taking steps to provide Bitstamp’s customers with the utmost confidence in our operations:

1. Bitstamp is financially stronger than ever. We have the most customers, and the most solid capital base, than we have ever had.
2. Bitstamp has retained the best available security and compliance advisors to assist us in protecting our clients.
3. Bitstamp prides itself on industry-leading compliance with its AML and KYC procedures.
4. Bitstamp is now performing quarterly financial audits and will post our financial reports on our web site.

We are indeed actually talking about limit orders (Placed way higher/lower than market, So they should fill instantly, but instead they are put in queue for 10 seconds under "open orders", while the market moves away).

I'm obviously not a dev at Bitstamp, but I think I can answer the question:

To my knowledge, stamp doesn't really place 'market' orders (as in: matching your order in an instant, until filled), but places successively higher/lower limit orders on your behalf if you place a market order. Hence the delay.

Not saying this excuses it, but as a consequence, I personally only use limit orders, after looking at the order book, that are set such that I can be sure my order is filled entirely. Much, much faster that way.


EDIT: unless you actually meant limit orders. In that case, ignore my above comment, please.