BitShares Forum
Main => General Discussion => Topic started by: Tuck Fheman on May 27, 2015, 10:46:39 pm
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Over the last few days we've watched BTer hold deposits increasingly longer (1st deposit = 4 hours, 2nd = 8 hours, 3rd = 12 hours, 4th = going on 16 hours) and our latest deposit is still "Pending".
A quick check of their chat will reveal we are not alone (and it's not just one coin) and it appears to be a growing problem. Be careful!
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thanks for the heads up
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Deposit cleared after 16 hrs and a msg to support.
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meanwhile, is btc38 down?
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meanwhile, is btc38 down?
No
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meanwhile, is btc38 down?
No
shit..must be me or my computer then
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now i have another deposit sitting for 16+ hrs, emailed support after 2 hours, no reply. :-\
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now i have another deposit sitting for 16+ hrs, emailed support after 2 hours, no reply. :-\
My btc38 deposit is sitting on over 16 hours now too. Sigh.
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Hope the whole thing will not get the biggest scam ever...
Sent from my ALCATEL ONE TOUCH 997D
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24+ hours, got a reply 6 hours ago they would look into it, and now this ...
503 Service Unavailable
No server is available to handle this request.
:-\
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i am using BTC38 myself, but so far no problems with them!
monsterer is working on a limit orderbook for metaexchange.info , so our goal is to let everyone trade without the need to deposit. The only "bad" point is, the confirmation time of Bitcoin is
sometimes really long or the feeling it is long. :D
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24+ hours, got a reply 6 hours ago they would look into it, and now this ...
503 Service Unavailable
No server is available to handle this request.
:-\
That's frightening... I guess there are 2 possible explanation :
1) there is so much new money flowing in they can't keep up with the deposits
2) it's the biggest altcoin pumping scam orchestrated by 1 or more centralized exchanges
Are there reasons to be optimistic about this issue ? Until this is resolved, I'm back to bearish..
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I made a fairly small BTC deposit to buy BTS as a test of the service a few days ago and the deposit went through very quickly. I withdrew the BTS to poloniex with no issues too. I'm not vouching for them but it may be a genuine technical issue rather than some kind of fraud.
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Yesterday I deposited about 0.5 BTC bought BTS and sent it immediately to my bts client.... just my experience.... So maybe make better many little transactions and not big ones just in case...
Sent from my ALCATEL ONE TOUCH 997D
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sites back up. still no deposit. =/
Update : 5 days later, still 'Pending'. =/
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still pending. same 'we're looking into it' responses. only around $50, but still fuuuu, i hate these exchanges. can't wait until they're a distant memory.
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still pending. =/
They have a few months to beat Poloniex's horrible service. Polo once held my funds for 3 months.
I'm thankful that I didn't lump this deposit into one big one, but instead did it in 5 chunks, this being the smallest, otherwise, I'd probably be upset and fbombs would be required. ;)
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thay need time to pic the fee !!
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still pending. same 'we're looking into it' responses. only around $50, but still fuuuu, i hate these exchanges. can't wait until they're a distant memory.
Shouldn't have to wait too long for that distant memory..
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They're still holding our funds. They transferred them to their forging wallet weeks ago and have been forging ever since while lying to us that they're still having issues. Fucking incredible. I'm done with BTer. Any company willing to lie in writing after you've proven to them without a shadow of a doubt that what they are telling you is complete bullshit, is not worth anyone's effort. If they'll do this for $50, does anyone think BTer would have an issue doing this with a larger amount? I don't. The way I see it, anyone willing to rip you off for $50 or claim they can't repay you, when you know they can, they're going to fuck you or anyone else over really bad one day for a much larger amount (oh wait, they've already done that in the past).
BTer, your exchanges death cannot come soon enough and we'd be happy to eat $50 to see that happen very soon. What sucks is ... now I'm personally out of options to trade Qora. Fuck the $50. I'm just thankful that we began reducing our deposit amounts to them right before this happened. Luckily someone else here saw it coming when a larger deposit was held for 2 days prior to this. While this has been going on, I've only been willing to put $20 of BTC on their exchange at a time to buy BTS, which is really slowing things down.
Yeah I know, "when 2.O comes out you won't have to worry about this". But, this is true only for coins that join 2.O.
[/rant]
Edit : as it turned out, fbombs were required to make me feel better.
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They're still holding our funds. They transferred them to their forging wallet weeks ago and have been forging ever since while lying to us that they're still having issues. Fucking incredible. I'm done with BTer. Any company willing to lie in writing after you've proven to them without a shadow of a doubt that what they are telling you is complete bullshit, is not worth anyone's effort. If they'll do this for $50, does anyone think BTer would have an issue doing this with a larger amount? I don't. The way I see it, anyone willing to rip you off for $50 or claim they can't repay you, when you know they can, they're going to fuck you or anyone else over really bad one day for a much larger amount (oh wait, they've already done that in the past).
BTer, your exchanges death cannot come soon enough and we'd be happy to eat $50 to see that happen very soon. What sucks is ... now I'm personally out of options to trade Qora. Fuck the $50. I'm just thankful that we began reducing our deposit amounts to them right before this happened. Luckily someone else here saw it coming when a larger deposit was held for 2 days prior to this. While this has been going on, I've only been willing to put $20 of BTC on their exchange at a time to buy BTS, which is really slowing things down.
Yeah I know, "when 2.O comes out you won't have to worry about this". But, this is true only for coins that join 2.O.
[/rant]
Edit : as it turned out, fbombs were required to make me feel better.
maybe ask @ccedk to add qora?
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maybe ask @ccedk to add qora?
Will do!
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Wow, bter still hasnt fixed your transactton?
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CCN should have been writing an article about this instead of publishing flame bait based on posts pulled from our forum without context.
Sent from my iPhone using Tapatalk
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Wow, bter still hasnt fixed your transactton?
Nope. They transferred the funds to the forging wallet weeks ago and the forging wallet is working juuuuust fine. Very odd and selective it appears.
Perhaps they don't like us going around bashing their horrible service everywhere we can, but stealing our money is not going to stop that, it's simply going to increase it.
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CCN should have been writing an article about this instead of publishing flame bait based on posts pulled from our forum without context.
heh, well considering it's only $50 (this time), an article would probably make us look worse than them, even though it's all their fault and they're lying to us daily. I say lying because I can see where the money went, I can see that the wallet is forging and I know that if it's forging they can send/receive funds without issues, yet they're claiming their devs are still working on something, but apparently only when we ask for our funds.
I guess this is what happens when you go around calling for the death of all centralized exchanges and then trade a coin on their exchange with ACCT that could eventually put them out of business. ;)
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Proof their wallet is working juuuuust fine as they forge and send funds to others ...
http://qora.co.in/?q=3FSSndvbDJDcXcyXQPTxui6TBD7vP3a7g6qtBuEgjdiuqbQkhxo8FdJPrGyg4es1Tm1neisKieqVn6zFbztLLf2g (http://qora.co.in/?q=3FSSndvbDJDcXcyXQPTxui6TBD7vP3a7g6qtBuEgjdiuqbQkhxo8FdJPrGyg4es1Tm1neisKieqVn6zFbztLLf2g)
http://qora.co.in/?q=4RjFrfThaNiiPDwuYGsgPb9guSuEVDQmgfjRpZGv1NKpRG5kTj5GdpQ2ac9MyXDqxHenYqe5G3vG3vYpuzva2Hd3 (http://qora.co.in/?q=4RjFrfThaNiiPDwuYGsgPb9guSuEVDQmgfjRpZGv1NKpRG5kTj5GdpQ2ac9MyXDqxHenYqe5G3vG3vYpuzva2Hd3)
Incredible.
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Any exchange that exhibits even the tiniest bit of funny business ought to be vacated immediately. the risks are just too high for these things imploding and taking all your money.
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Anyone get their btcb balance moved over? My 3 btc is still stuck and they keep saying I'm in queue becsuse they paid off other ppl seeks like they won't return my funds.
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Anyone get their btcb balance moved over? My 3 btc is still stuck and they keep saying I'm in queue becsuse they paid off other ppl seeks like they won't return my funds.
Mine is still locked up. I thought they were going to pay it back over time from revenue? They gave one month of free trading and then...? I didn't realize the conversion from BTCB to BTC was supposed to have started.
Does anyone have anything converted other than the initial disbursement they made right after the BTCB was issued?
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Anyone get their btcb balance moved over? My 3 btc is still stuck and they keep saying I'm in queue becsuse they paid off other ppl seeks like they won't return my funds.
Mine is still locked up. I thought they were going to pay it back over time from revenue? They gave one month of free trading and then...? I didn't realize the conversion from BTCB to BTC was supposed to have started.
Does anyone have anything converted other than the initial disbursement they made right after the BTCB was issued?
No. I received ~10% when they came back on line and nothing since. I haven't used them since, so maybe that's why. Have you used them?
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I reconciled my deposits with the account history and they did indeed credit both my accounts about 0.21 BTC (out of 15 owed). So it seems like they are doing monthly disbursements.
Contacting their support about this issue I received the following note:
Dear Sir.
The first and second batch of repayment have been made. The second batch of repayment was made last month You may see a small BTC deposit and your BTC-B balance decreases a bit.
The repayment is distributed to all the affected users. The amount of repayment is in proportion to their affected BTC.
The second is 100 BTC in total
This batch of repayment is not much as we hadn't had enough money from the operation profit. As our business thrives, we will be able to repay more and faster.
Best
bter.com
I have not used them since the theft other than to transfer money out as it gets released. However this is more due to other services providing the utility I need quicker, easier, and with less risk.
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Outsch ..
(http://i.imgur.com/QEL7TaA.png)
what's up?!
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Outsch ..
(http://i.imgur.com/QEL7TaA.png)
what's up?!
-5%
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Anyone contacted support yet? My guess is their wallet fell out of sync :P.
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Anyone contacted support yet? My guess is their wallet fell out of sync :P.
check .. let's wait
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centralized crypto exchanges are so risky--something like half of them shut down with customer funds--it's best to withdraw all funds at the first hint of fishy business. BTER seems like it crossed this fishy business line awhile back.
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Anyone contacted support yet? My guess is their wallet fell out of sync :P.
Yeah, 4 days ago. Their reply:
Dear Sir,
BTS withdrawal will be enabled later.
Please kindly keep an eye on the withdrawal page for update.
Best
bter.com
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Anyone contacted support yet? My guess is their wallet fell out of sync :P.
Yeah, 4 days ago. Their reply:
Dear Sir,
BTS withdrawal will be enabled later.
Please kindly keep an eye on the withdrawal page for update.
Best
bter.com
can you get anything out? if so, might be worth a quick trade to whatever that is and then withdraw.
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I'm glad that my remaining balance on bter is only 4 cents worth of BTC and dust. Moved all my trading to btc38. The volume on bter has grown worse and worse. Instead of recovering since they came back online, everyone is just taking the opportunity to exit and withdraw.
Its good to know that they are making partial payments, but I fear they will die before they are able to repay much of it.
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I'm glad that my remaining balance on bter is only 4 cents worth of BTC and dust. Moved all my trading to btc38. The volume on bter has grown worse and worse. Instead of recovering since they came back online, everyone is just taking the opportunity to exit and withdraw.
Its good to know that they are making partial payments, but I fear they will die before they are able to repay much of it.
sad bc these crises fuel the anti-crypto crowd. i very much prefer truly decentralized services like shapeshift.io to traditional exchanges.
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I'm glad that my remaining balance on bter is only 4 cents worth of BTC and dust. Moved all my trading to btc38. The volume on bter has grown worse and worse. Instead of recovering since they came back online, everyone is just taking the opportunity to exit and withdraw.
Its good to know that they are making partial payments, but I fear they will die before they are able to repay much of it.
sad bc these crises fuel the anti-crypto crowd. i very much prefer truly decentralized services like shapeshift.io to traditional exchanges.
How is shapeshift decentralized?
You only hold value there for a few minutes, sure, but it's Erik Voorhees' centralized website, no?
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I'm glad that my remaining balance on bter is only 4 cents worth of BTC and dust. Moved all my trading to btc38. The volume on bter has grown worse and worse. Instead of recovering since they came back online, everyone is just taking the opportunity to exit and withdraw.
Its good to know that they are making partial payments, but I fear they will die before they are able to repay much of it.
sad bc these crises fuel the anti-crypto crowd. i very much prefer truly decentralized services like shapeshift.io to traditional exchanges.
How is shapeshift decentralized?
You only hold value there for a few minutes, sure, but it's Erik Voorhees' centralized website, no?
It makes the trade and sends you the coins, rather than letting you keep your coins with them. You control your private keys.
I'm so glad I withdrew the >200k BTS I had at bter a few days before this new 'withdrawal disabled' started. I shouldnt have let so much accumulate there, bter is not to be trusted! I'm keeping some at btc38 now, and maybe I shouldnt, but as far as I know they have never been hacked. Whereas bter has suffered multiple major hacks and is now massively underwater owing people BTC. If their volume continues to decrease, I wonder when someone there will just give up and go 'fuck it, its over, I'm stealing all the coins'.
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I'm glad that my remaining balance on bter is only 4 cents worth of BTC and dust. Moved all my trading to btc38. The volume on bter has grown worse and worse. Instead of recovering since they came back online, everyone is just taking the opportunity to exit and withdraw.
Its good to know that they are making partial payments, but I fear they will die before they are able to repay much of it.
sad bc these crises fuel the anti-crypto crowd. i very much prefer truly decentralized services like shapeshift.io to traditional exchanges.
How is shapeshift decentralized?
You only hold value there for a few minutes, sure, but it's Erik Voorhees' centralized website, no?
As @ander says, services like shapeshift.io are just passthroughs, they never hold your private keys. sure, it's possible their service could go bonkers and fail to process a trade after you've sent funds, but that's different (maybe less severe) risk than parking funds on an exchange.
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Maybe it's a good idea to get Bter to run on BitShares 2.0
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Maybe it's a good idea to get Bter to run on BitShares 2.0
I'm sure bter would find a way to mess it up.
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Maybe it's a good idea to get Bter to run on BitShares 2.0
I'm sure bter would find a way to mess it up.
Maybe if they don't, the crypto world will finally acknowledge BitShares as the safest way to run an exchange
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Maybe it's a good idea to get Bter to run on BitShares 2.0
I'm sure bter would find a way to mess it up.
Maybe if they don't, the crypto world will finally acknowledge BitShares as the safest way to run an exchange
It could be the cost saving and marketing strategy they need
support@mail.bter.com may not be the best way to contact them considering the ticket requests from their withdrawal problems, anyone know a better way?
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Yeah, 4 days ago. Their reply:
Dear Sir,
BTS withdrawal will be enabled later.
Please kindly keep an eye on the withdrawal page for update.
Best
bter.com
I have received the exact same thing just now ..
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Q: How does a fractional reserve exchange function?
A: See BTer.
As I was helping on the BrotherJohnF transcript (https://beyondbitcoin.org/bonus-hangout-with-brotherjohnf-about-physical-silver-and-his-crypto-experiences/), JoeyD and BJF described (https://soundcloud.com/beyond-bitcoin-hangouts/beyondbitoicn-bonus-hangout-brotherjohnf-6-19-2015#t=47:30) exactly what was happening with us on BTer.
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fwiw, here's our recent rants on the topic
http://tuckfheman.com/post/123115226019/is-bter-the-new-mt-gox (http://tuckfheman.com/post/123115226019/is-bter-the-new-mt-gox)
http://tuckfheman.com/post/123560294139/is-bter-com-insolvent (http://tuckfheman.com/post/123560294139/is-bter-com-insolvent)
http://tuckfheman.com/post/120050136679/bter (http://tuckfheman.com/post/120050136679/bter)
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fwiw, here's our recent rants on the topic
http://tuckfheman.com/post/123115226019/is-bter-the-new-mt-gox (http://tuckfheman.com/post/123115226019/is-bter-the-new-mt-gox)
http://tuckfheman.com/post/123560294139/is-bter-com-insolvent (http://tuckfheman.com/post/123560294139/is-bter-com-insolvent)
http://tuckfheman.com/post/120050136679/bter (http://tuckfheman.com/post/120050136679/bter)
haha love your site's tagline: 'Decentralized Blockchain Technology and Doom Updates' ...the 'doom updates' definitely adds some flare
also agree that it looks like we may have another Gox amongst us...
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So glad I withdrew my ~200k BTS from there a couple weeks ago, after I bought, instead of letting it sit there.
If they go under I'll lose around 100k Qora that they refuse to credit, and 4 cents worth of dust thats below the trading minimums. So like 3 bucks.
Managed to avoid losing anything when they went down in February, because I had just spent the BTC I had buying BTS because it crashed that day, and the remaining BTC I had was in a buy order which they refunded when it came online.
I've had thousands of dollars of BTS there at various points, because I was dumb. So lucky! Though the month of pain and worrying when they went down was pretty horrible.
I think that on that day in February, before they went down, they may have had a bug in BTS and probably some other coins which put them in a fractional reserve situation. Its probably why BTS got dumped so hard that day, because some people had figured out there was a bug.
They may have gone into fractional reserve on that day, but they could still cover most of their BTS so they just hoped no one would ever notice. But too many people have been withdrawing, so now they are almost out?
This is all speculation, I have no actual real evidence. But its enough of a risk that I don't want to hold anything in bter. They've been hacked twice, and the second one put them heavily in debt. If you are going to hold coins on an exchange, you need to do it on ones with plenty of money, so that if they get hacked they can afford to have it come out of their own pockets instead of their customers.
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Maybe it's a good idea to get Bter to run on BitShares 2.0
I'm sure bter would find a way to mess it up.
Maybe if they don't, the crypto world will finally acknowledge BitShares as the safest way to run an exchange
It could be the cost saving and marketing strategy they need
support@mail.bter.com may not be the best way to contact them considering the ticket requests from their withdrawal problems, anyone know a better way?
yep i've tried to contact them via that mail in the past but never got a reply
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If they go under I'll lose around 100k Qora that they refuse to credit, and 4 cents worth of dust thats below the trading minimums. So like 3 bucks.
Not too bad. They only got us for 2 mio Qora around $50, luckily we continued reducing deposits as mentioned in this thread I believe. They could have got us days earlier for larger amounts. Now that the phrase, "fractional reserve" has been associated with this exact scenario on exchanges, it all makes sense. Our withdrawals would take longer each time, so they could refill the bucket?
Apparently many of us attempted to withdraw at once and there went that, "wallet broken", as around 56 BTC (~$14k USD) are now held, forging daily without issue.
I wonder how much of this 56BTC of Qora is real? It looks like only small chunks get released daily, to someone. So BTEr can send funds from this wallet. The Qora dev's say BTer has not contacted them about the issue in weeks and when they respond to the Dev's they give vague answers about the "wallet issue". It's very suspicious to say the least.
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If they go under I'll lose around 100k Qora that they refuse to credit, and 4 cents worth of dust thats below the trading minimums. So like 3 bucks.
Not too bad. They only got us for 2 mio Qora around $50, luckily we continued reducing deposits as mentioned in this thread I believe. They could have got us days earlier for larger amounts. Now that the phrase, "fractional reserve" has been associated with this exact scenario on exchanges, it all makes sense. Our withdrawals would take longer each time, so they could refill the bucket?
Apparently many of us attempted to withdraw at once and there went that, "wallet broken", as around 56 BTC (~$14k USD) are now held, forging daily without issue.
I wonder how much of this 56BTC of Qora is real? It looks like only small chunks get released daily, to someone. So BTEr can send funds from this wallet. The Qora dev's say BTer has not contacted them about the issue in weeks and when they respond to the Dev's they give vague answers about the "wallet issue". It's very suspicious to say the least.
There was a time when it looked like bter's wallet was down to like 300M qora or something, and there were around 500M in sell orders on the books, and I thought they were running a fractional reserve, but then they moved a bunch of funds form a wallet we didnt know was them into the main wallet.
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I am done with bter .. trading via metaexchange and blocktrade now ..
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I am done with bter .. trading via metaexchange and blocktrade now ..
nice...
any Trezor-like devices for BTS cold storage on the market?
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any Trezor-like devices for BTS cold storage on the market?
nop .. but on the list of things that can certainly be implemented .. especially for bts2.0
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any Trezor-like devices for BTS cold storage on the market?
nop .. but on the list of things that can certainly be implemented .. especially for bts2.0
that'll certainly add some peace of mind. does it really have to wait for 2.0? Seems like it should be fairly straightforward to do now.
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that'll certainly add some peace of mind. does it really have to wait for 2.0? Seems like it should be fairly straightforward to do now.
Wire-format changes for BTS2.0 .. hence you have the code either for bts0.* .. or you have it for bts2
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that'll certainly add some peace of mind. does it really have to wait for 2.0? Seems like it should be fairly straightforward to do now.
Wire-format changes for BTS2.0 .. hence you have the code either for bts0.* .. or you have it for bts2
oh ok, cool...
i just emailed Trezor asking if they'd include BTS storage at some point. if they respond, i'll recommend they hold off until 2.0. thx!