6 ms·

Why is BTC-e greater risk?

mmaunder 13y ago
Because it's based in Bulgaria and no one knows who actually owns it. But it's good software and one of the few places you can trade other currencies like Feathercoin and Litecoin with plenty of liquidity.
- mmaunder 13y ago
  ...and funny you ask because a commenter just posted on my blog that Sheep Market Place was scammed out of $40 million in BTC which is a possible cause of all the selling: http://www.techienews.co.uk/973470/silk-road-like-sheep-marketplace-scams-users-39k-bitcoins-worth-40-million-stolen/ http://www.techienews.co.uk/973470/silk-road-like-sheep-mark...
  - judk 13y ago
    If this theory is true, it shows that BTC lacks book depth and the current price is just speculation on the edges, not a true price for the entire stock of BTC. (That is, if a large portion of BTC users wanted to get out of BTC, they couldn't realize the nominal market price.)
- pakitan 13y ago
  Where does the Bulgaria thing come from? BTC-E is clearly a russian site.
  - vldx 13y ago
    Not sure what is your source, but BTC-E says the following: "A cryptocurrency exchange based in Bulgaria where users can trade Bitcoins, Litecoins, and Namecoins, for Dollars, Euros and Rubles."
    - pakitan 13y ago
      Thanks, I found it now. Though, they speak Russian and support predominantly Russian payment methods while supporting zero Bulgarian payment methods so either they are lying or the Bulgarian company is just a shell.
      - behold- 13y ago
        What a stupid comment. So if say Blackberry is selling mainly to US and European customers, it's clearly just a Canadian shell ...
        pakitan 13y ago
        Interesting analogy. A publicly traded company with transparent financials and corporate hierarchy vs. a web site that has an unknown company behind it, run by anonymous CEO.
        behold- 13y ago
        Yeah sure, you're right. The CEO is probably an alien. There is no way a Bulgarian company could see the majority of it's customers are from Russia and adapt by offering convenient payment methods. Never mind that Russia is the biggest country in Europe and it's heavily policing outgoing bank transfers.

Because it's based in Bulgaria and no one knows who actually owns it. But it's good software and one of the few places you can trade other currencies like Feathercoin and Litecoin with plenty of liquidity.

mmaunder 13y ago
...and funny you ask because a commenter just posted on my blog that Sheep Market Place was scammed out of $40 million in BTC which is a possible cause of all the selling: http://www.techienews.co.uk/973470/silk-road-like-sheep-marketplace-scams-users-39k-bitcoins-worth-40-million-stolen/ http://www.techienews.co.uk/973470/silk-road-like-sheep-mark...
- judk 13y ago
  If this theory is true, it shows that BTC lacks book depth and the current price is just speculation on the edges, not a true price for the entire stock of BTC. (That is, if a large portion of BTC users wanted to get out of BTC, they couldn't realize the nominal market price.)
pakitan 13y ago
Where does the Bulgaria thing come from? BTC-E is clearly a russian site.
- vldx 13y ago
  Not sure what is your source, but BTC-E says the following: "A cryptocurrency exchange based in Bulgaria where users can trade Bitcoins, Litecoins, and Namecoins, for Dollars, Euros and Rubles."
  - pakitan 13y ago
    Thanks, I found it now. Though, they speak Russian and support predominantly Russian payment methods while supporting zero Bulgarian payment methods so either they are lying or the Bulgarian company is just a shell.
    - behold- 13y ago
      What a stupid comment. So if say Blackberry is selling mainly to US and European customers, it's clearly just a Canadian shell ...
      - pakitan 13y ago
        Interesting analogy. A publicly traded company with transparent financials and corporate hierarchy vs. a web site that has an unknown company behind it, run by anonymous CEO.
        behold- 13y ago
        Yeah sure, you're right. The CEO is probably an alien. There is no way a Bulgarian company could see the majority of it's customers are from Russia and adapt by offering convenient payment methods. Never mind that Russia is the biggest country in Europe and it's heavily policing outgoing bank transfers.