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Showing 9 of 9 results by Beldar
I'm still holding USD there. Definitively not taking a 5% haircut!
edit: wow, checked again and the advcash fee is 10% now
Thats too much fee.They posted that they plan to lower fee .edit: wow, checked again and the advcash fee is 10% now
I already waited 10-12 days for bitcoin rate to improve but its getting worse... But, I think I should wait more for lower fee.
The fiat withdrawal fees have most likely been raised to 10% in an effort to stop the carry trade from other exchanges exploiting the high crypto price on WEX. 10% is probably not enough. eg. USD/BTC is currently trading about 13% higher on WEX than other exchanges.
Yeah, thats a problem because this way many people brings crypto into Wex, sell and request a fiat withdraw. Wex is running out of fiat due to this and then increased fees but this is leading to trade volume reduction which is not good for the business. They need to bring more fiat to the equation to get things back to normal but sure its not easy being easy for them because there is millions of fiat in users accounts but they didnt' get any fiat from Btc-e when the platform started.
I don't see the problem if you are a legitimate user and you don't use the exchange to hide money from your goverment.
What is it to some goverment into my moneyz? 
Well if you have incomes and properties you have to declare them and pay taxes. You could have an undelcared incomes and hide them in an exchange. Then you can trade and get profits and you must declare it if you don't you could be charged as tax evader so you would like to stay anonimous and do not verify and show your identity to any exchange that claims to be compliance with KYC/AML laws.
The U.S. agents seized funds from btc-e exchange. So if btc-e owners want to challenge the DoJ's decision in court, they need to reveal their identity first. How does that sound to you?
Probably following the wires. It could happens that they only could find companies behind other companies behind straw man. At least that is what often happens when Spanish justice tries to prosecute politicians and their ilegal business.
Where was the legal base when they seized the servers? First the DoJ starts off with some rant about Vinnik and Mt Gox. Mt Gox was not in the US, it was in Japan and Karpeles is not a US citizen he is French. So they seized the BTC-e servers with a search warrant, most likely they were sniffing for information to actually charge someone with something because they didn't have any. Think about that!
The U.S. agents seized funds from btc-e exchange. So if btc-e owners want to challenge the DoJ's decision in court, they need to reveal their identity first. How does that sound to you?
I don't see the problem if you are a legitimate user and you don't use the exchange to hide money from your goverment.
For those that complaint that BTC holders are bailling out Fiat holders:
BTC holder had 1 BTC@2546USD at downtime -> now 0.55BTC@4800= 2640USD AND 0.45BTCET@XXXBTC. They have no loses but great profit instead!
Fiat holder had 1000USD. Now 550USD converted to BTC/LTC/ETH at who nows which rate (downtime date rate will be great but sure its not happening) and 450USDET.
Conclusion BTC holders are not bailling out a shit because they are going to have big profits. Some of them may had hold their BTC from 2540 to 4800 but sure most of them wouldn't.
We fiat holders will have probably a 45% losses while BTC and ETH will have profits. No bailling out here.
BTC holder had 1 BTC@2546USD at downtime -> now 0.55BTC@4800= 2640USD AND 0.45BTCET@XXXBTC. They have no loses but great profit instead!
Fiat holder had 1000USD. Now 550USD converted to BTC/LTC/ETH at who nows which rate (downtime date rate will be great but sure its not happening) and 450USDET.
Conclusion BTC holders are not bailling out a shit because they are going to have big profits. Some of them may had hold their BTC from 2540 to 4800 but sure most of them wouldn't.
We fiat holders will have probably a 45% losses while BTC and ETH will have profits. No bailling out here.
LOL.
How do they pretend to run a new service with the assets of a seized service ? Obviously the FBI will take it down as soon as they can proof the FinCen they are running with the coins not seized from BTC-e.
How does splitting their cold wallet into 1 million wallets help if they claim to be using those funds ?
Which will be the value of 1BTE after 1 day trading since there is no wire options ?
Everyone will buy BTC, LTC and ETH and run away after 1 hour running the service and the price of BTC/BTE will be like 1/10000 really soon.
For sure I will do that. Good Luck for those who stay in BTE after 1 day.
Well at least we can say that this is better than nothing and far more than we can expect from the FBI seized funds.
How do they pretend to run a new service with the assets of a seized service ? Obviously the FBI will take it down as soon as they can proof the FinCen they are running with the coins not seized from BTC-e.
How does splitting their cold wallet into 1 million wallets help if they claim to be using those funds ?
Which will be the value of 1BTE after 1 day trading since there is no wire options ?
Everyone will buy BTC, LTC and ETH and run away after 1 hour running the service and the price of BTC/BTE will be like 1/10000 really soon.
For sure I will do that. Good Luck for those who stay in BTE after 1 day.
Well at least we can say that this is better than nothing and far more than we can expect from the FBI seized funds.
If BTC-e tries to refund customers it will be using crypto after socializing losses.
I'm not sure that socializing the losses is a smart move.
Innocent users will compensate the balances of "drug dealers and other illicit users" that originate the problem itself.
You will use part of your money, to compensate illicit traders that cost you the money you lost.
Well they might be willing to refund drug and weapons dealers before innocent peopole since they might chase and kill them and we can only cry out loud for our money
If BTC-e tries to refund customers it will be using crypto after socializing losses.
There is no way they can use wires since they would be blacklisted and after the first wire the FBI would seize the bank account the wire came from.
And even if they refund with crypto you should be very careful. All crypto wallets that receive founds from BTC-e could be blacklisted and then when you try to cash out in any other exchange they might block your accounts in order to prevent the FBI seize their site for money laundering. You'd do well to move your crypto through thousand of wallets prior to send them to any exchange and then cahs out in small chunks. At leats that are my plans if I get any refund in crypto.
By the way I don't think the FBI seized all their FIAT but they probably are chasing them through a lot of instrumental companies owned by another companies in many tax haven countries like a matrioska Russian doll. The problem is how will they can cash out their fiat and how to secure it before the FBI gets to them.
Returning the service with the charges they have is not an option unless they arrange with the US DOJ to remove the charges and register as legal MSB after paying a big fine. I think this option is very unlikely but not impossible.
There is no way they can use wires since they would be blacklisted and after the first wire the FBI would seize the bank account the wire came from.
And even if they refund with crypto you should be very careful. All crypto wallets that receive founds from BTC-e could be blacklisted and then when you try to cash out in any other exchange they might block your accounts in order to prevent the FBI seize their site for money laundering. You'd do well to move your crypto through thousand of wallets prior to send them to any exchange and then cahs out in small chunks. At leats that are my plans if I get any refund in crypto.
By the way I don't think the FBI seized all their FIAT but they probably are chasing them through a lot of instrumental companies owned by another companies in many tax haven countries like a matrioska Russian doll. The problem is how will they can cash out their fiat and how to secure it before the FBI gets to them.
Returning the service with the charges they have is not an option unless they arrange with the US DOJ to remove the charges and register as legal MSB after paying a big fine. I think this option is very unlikely but not impossible.