Silk Road forums
Discussion => Security => Topic started by: Cynosure on April 17, 2013, 10:53 pm
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Hey kids,
Bitfloor has sent out an e-mail and you can visit their website (clearnet) to see the message posted. They are shutting down indefinitely. I have quoted the message at the end of this post.
Those of us who still have bitcoins/cash in the Bitfloor system can still access/withdraw them to other wallets. That said, I need to know of another service that allows buying/trading on the market. Since my lovely SR vendors are out of commission while the market corrects itself, I have invested in the market at lows and need an interface to place buy/sell orders (preferably without having to use my real information).
Can anyone give me some safe suggestions?
The message from Bitfloor:
I am sorry to announce that due to circumstances outside of our control BitFloor must cease all trading operations indefinitely. Unfortunately, our US bank account is scheduled to be closed and we can no longer provide the same level of USD deposits and withdrawals as we have in the past. As such, I have made the decision to halt operations and return all funds.
Over the next days we will be working with all clients to ensure that everyone receives their funds. Please be patient as we process your request.
- Roman
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We posted the same thread at the same time. Epic.
I'm also looking for another service provider! I was about to make a $2000+ transaction :(((((
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Haha, I saw that!! +1 to you.
Luckily, I had put in all of my cash already. I was just holding out for a couple of weeks to study the market before cashing out. I need to find a place to trade now.
For your situation, I wouldn't recommend BitInstant at the moment. I've been hearing a lot of troublesome reports. These are the only two services I've used, however.
I'm so bummed. Bitfloor was the shit.
RIP
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Well I had just deposited earlier and I have USD in my acct on their right now and I'm trying to figure out if I should just do a bank withdrawal or what???
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Unfortunately, I think that may be your only option. They ceased trading officially at 18:00 EST.
You may be able to send in a support e-mail/ticket and get them transferred over by taking a hit; but, I wouldn't bet money on them allowing this due to the amount of customers they have.
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What are the bad reports with Bitinstant? I only know of Bitcopia other than that. My friend personally has deposited $1000 to Bitcopia before no problems yet.
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Shit! I had just decided to move to bitfloor for my bitcoin needs. I sure hope the BTC market settles down so we can all get back to buying drugs. I also hope that the current spasm results in an improved BTC infrastructure...
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I need help too. Bitfloor / LocalTill, LLC stole $412 from me. >:(
I made a deposit on mon 4/15 and they say it never went through. I emailed them for support about 3 hrs after since it was taking awhile to go through and did not here back from them till the next day. They asked for a copy of the deposit receipt. I emailed a copy. They said "We have no such deposit. Please follow up with the bank to ensure they have properly credited out account."
I went back to the bank today to verify and the bank verified it went through "almost immediately"... Now I come home from the bank and email them again. Log in to these forums and see this thread :-[ :-[ Im so pissed right now >:( >:( I have no Idea what to do. This was my first time trying to buy BTC too. I did my research and everyone on the forums had nothing but good things to say about Bitfloor. Now i'm out a lot of $ and feel like shit. I mean i would at least not feel as bad if I got scammed by a vendor or something illegal. But buying bitcoins through a reputable website. At least I thought it was. :(
If anyone has any advise for me on how I can get my $ back please do tell.
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fuck so are we stuck using mtgox? they take 3 days for funds to arrive to accounts and if ur using a bank transfer then u'r not anonymous
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fuck so are we stuck using mtgox? they take 3 days for funds to arrive to accounts and if ur using a bank transfer then u'r not anonymous
Check out Camp BX (CBX) if you are trading USD.
CampBX is the first Bitcoin platform to bring advanced features like Margin Trading and Short-selling*, and have several more innovative features in the pipeline.
There are no fees required to open a CampBX account.
*short selling option is a big plus. When you sell short, you profit when BTC price decreases.
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I just heard the news myself, fuuuck that blows. I was using BitMe before bitfloor so i guess i'll go back to that. The problem with them is you usually end up paying a few extra dollars a btc then the actual mtgox rate but they are just as fast as bitfloor. They are under maitenance right now though so hopefully they come back up soon. ugghh
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I've heard a lot of good things about CBX around the web. I will be trying them next.
..as soon as my funds are available. I transferred them out of Bitfloor to Blockchain for temporary storage while I researched other places. Aaaannnnddd, of course, that is down now too.
It's an uneasy feeling--having so much money just "lost" somewhere between web servers with no way to see it's okay.
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any solutions for non-usd holders
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if you really want to stay anonymous then it looks like the only option is to buy from a trusted vendor here on the road. The other clearnet sites are all being compromised by LE it would appear
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if you really want to stay anonymous then it looks like the only option is to buy from a trusted vendor here on the road. The other clearnet sites are all being compromised by LE it would appear
Have we heard anything that LE is messing with the bitcoin sites? That would be a much different situation than what I've been assuming - that all of the disruptions are due to the huge price swings and the panic selling. Bitcoin is a very new system, and the infrastructure just hasn't been up to handling the mania of the past week. If you have info on LE involvement, share it here. That would be very important to all of us.
Blockchain is still down by the way. BTC-e is up as is Mt. Gox.
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Man this is disappointing news i loved bitfloor. Nice anonymous drive thru deposits. Has anyone used BTC-e with good results?
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This is lame. I literally just figured out how to use bitfloor to sell bitcoins and deposit them into my bank account yesterday. Just my luck that they fucking close down the same day. Does mtgox allow deposits into bank accounts? I am only planning on using these BTC for legal trading, so if i have to provide an I.D then there is no problem
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I need help too. Bitfloor / LocalTill, LLC stole $412 from me. >:(
I made a deposit on mon 4/15 and they say it never went through. I emailed them for support about 3 hrs after since it was taking awhile to go through and did not here back from them till the next day. They asked for a copy of the deposit receipt. I emailed a copy. They said "We have no such deposit. Please follow up with the bank to ensure they have properly credited out account."
I went back to the bank today to verify and the bank verified it went through "almost immediately"... Now I come home from the bank and email them again. Log in to these forums and see this thread :-[ :-[ Im so pissed right now >:( >:( I have no Idea what to do. This was my first time trying to buy BTC too. I did my research and everyone on the forums had nothing but good things to say about Bitfloor. Now i'm out a lot of $ and feel like shit. I mean i would at least not feel as bad if I got scammed by a vendor or something illegal. But buying bitcoins through a reputable website. At least I thought it was. :(
If anyone has any advise for me on how I can get my $ back please do tell.
Well... you're not going to like the answer. Their Bank assets were frozen, this is why they're shutting down. You can try and have LocalTill reverse the transaction, but it probably will require you to submit AML/KYC documentation to retrieve the funds, as this is why their account was frozen in the first place. So unless you want to mail them 2 IDs and a gas bill... you might be SOL. This is why you should NEVER deposit funds into an account that is in a country regulated by AML/KYC regulation. You either have to verify yourself (Like Gox) or the exchange gets accounts frozen due to lack of AML/KYC documentation.
Remember you didn't get scammed by BitFloor or LocalTill you got scammed by the American Financial System. They are out several hundred thousand while you only have to eat a $425 loss. Not to mention the owner was already in the middle of bankruptcy to begin with. He's going to get royally reamed by this event.
Best of luck to you and let us know how it turns out.
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apparently bitme got fucked over too...
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This is lame. I literally just figured out how to use bitfloor to sell bitcoins and deposit them into my bank account yesterday. Just my luck that they fucking close down the same day. Does mtgox allow deposits into bank accounts? I am only planning on using these BTC for legal trading, so if i have to provide an I.D then there is no problem
If you're in the US, then I think that you need to use Dwolla as an intermediate to your bank account. Mt. Gox is based in Japan, so a bank transfer would have to be by international wire. There's some info about that in their Funding Options > Withdraw Funds tab, but it looked too clunky for me. If you get verified on BOTH Mt. Gox and Dwolla, then I think you can move back and forth between your bank and Mt. Gox. Not sure how fast - I think maybe a few days for transfers to finish.
I'm getting very gun-shy about smaller exchanges. Not that Gox is any perfect deal, of course. I've said before - I hope that this whole past month results in a more robust and reliable infrastructure for bitcoins.
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apparently bitme got fucked over too...
Well... they kinda got out while the getting was good. After FinCEN was going to classify them as a money transmitter (forcing AML/KYC regulation) they refunded all current balances and closed up shop. Not as unfortunate as BitFloor's accounts being frozen with balances still inside.
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I need help too. Bitfloor / LocalTill, LLC stole $412 from me. >:(
I made a deposit on mon 4/15 and they say it never went through. I emailed them for support about 3 hrs after since it was taking awhile to go through and did not here back from them till the next day. They asked for a copy of the deposit receipt. I emailed a copy. They said "We have no such deposit. Please follow up with the bank to ensure they have properly credited out account."
I went back to the bank today to verify and the bank verified it went through "almost immediately"... Now I come home from the bank and email them again. Log in to these forums and see this thread :-[ :-[ Im so pissed right now >:( >:( I have no Idea what to do. This was my first time trying to buy BTC too. I did my research and everyone on the forums had nothing but good things to say about Bitfloor. Now i'm out a lot of $ and feel like shit. I mean i would at least not feel as bad if I got scammed by a vendor or something illegal. But buying bitcoins through a reputable website. At least I thought it was. :(
If anyone has any advise for me on how I can get my $ back please do tell.
Well... you're not going to like the answer. Their Bank assets were frozen, this is why they're shutting down. You can try and have LocalTill reverse the transaction, but it probably will require you to submit AML/KYC documentation to retrieve the funds, as this is why their account was frozen in the first place. So unless you want to mail them 2 IDs and a gas bill... you might be SOL. This is why you should NEVER deposit funds into an account that is in a country regulated by AML/KYC regulation. You either have to verify yourself (Like Gox) or the exchange gets accounts frozen due to lack of AML/KYC documentation.
Remember you didn't get scammed by BitFloor or LocalTill you got scammed by the American Financial System. They are out several hundred thousand while you only have to eat a $425 loss. Not to mention the owner was already in the middle of bankruptcy to begin with. He's going to get royally reamed by this event.
Best of luck to you and let us know how it turns out.
Update*
I just checked my Bitfloor account and my funds posted!!! :)
I'm not out of the water yet though... Since trading is suspended indefinitely I have no way of trading my USD for BTC.
How do I get my $ out of Bitfloor now? ACH withdraw? I don't want to leave my $ in there any longer then I have to. I don't even care If i get BTC from them or not.
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Update*
I just checked my Bitfloor account and my funds posted!!! :)
How do I get my $ out of Bitfloor now? ACH withdraw?
Good to hear.
Answered your own question. A bank transfer would be only way. Although as their accounts are frozen, not sure how that would work. Another user here had his USD balance converted to BTC and he was able to withdrawl the coins. You might email BitFloor and see how to proceed.
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Man, I thought that I was SO screwed. I didn't find out about the BitFloor account freeze until late April 18. I went there and most of my money was in BTC. (and it had gone up, so that was good-especially since I've heard you can't get money out of the account)
I went and filled out the withdrawl and the BTC address I wanted it at.
Like I said, I thought that I was screwed but by about 330 am, it was in my wallet.
So happy, you can't believe.
I think it must have been the government/banks that screwed BitFloor up. 'For our own good of course' 'Or the childrens' or whatever the focus groups figure are the best weasol words for theft, like Cyprus did to it's depositers.
This thing was getting ALL TOO INTERESTING for me.
Maybe I'm a paranoid nut, but the only enity that could/would do all this stuff lately is the government, but I'd be happy to be talked out of it.
I'm only sorry that I sold some of my BTC after it went down, it's already back up to where I would have made money
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Man this is disappointing news i loved bitfloor. Nice anonymous drive thru deposits. Has anyone used BTC-e with good results?
I totally agree, very disappointing! I used Bitinstant for the first time the other day, it went well, i had the BTC in my wallet in about 5 minutes or less. I didn't like using a fake name though and having to sign a receipt. I think i'll give blue sky a try next time.
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Just to say that speedybitcoins is a pretty good service but you'll need to request an invite and their support are pretty slow doing this. Also localbitcoins always has a better price than bitbargain which I think is well over priced! There used to be a very easy way to get money into bitstamp but UK banks are now blocking transfers to exchanges so be careful. Transferwise was a great solution for SEPA transfers but again will not deposit to exchanges now. Good luck ;)
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Used bitinstant today and the teller checked my ID to make sure it matched the name on the "bill payment"! wtf happened to anon. deposits at the bank?!?? So upsetting.
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Used bitinstant today and the teller checked my ID to make sure it matched the name on the "bill payment"! wtf happened to anon. deposits at the bank?!?? So upsetting.
Then refuse and go to another one. I use BitInstant and just go to WalMart. I've never been checked for ID, my transactions have always been under $800. There is a threshold on the MoneyGram's from WalMart....if it's under that amount ($800 I believe), no ID is required. More than that, you might get ID'd. I've never gone over that, and I've probably done 20+ deposits this way through WalMart. I use a different fake name, number and address each time.
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Thanks potroast. Wal-mart is a bit of a drive for me but worth it to keep me as anon as possible.