Author: Yaroslav0212 | Views: 1837

BTC-e closed forever July 25, 2017

I suspect that now there will be a lot of speculation on this topic, including Twitter posts and panic in social networks and the mass funeral of bitcoin.


I must say – no one needs to be buried, regardless of the fate of the exchange BTC-e (see below) with bitcoin everything will be fine, including the current drawdown, which many were waiting to buy for example on the same  My opinion is pure speculation. I have on BTC-e there was/is (underline as appropriate for yourself) sufficient funds in order to begin to worry about it.

There are several objective facts that everything will be fine and this is not a Scam (fraud on the part of the BTC-e exchange).

The facts in favor of the fact that BTC-e will survive

  1. In the official account btc e Twitter posted a message about technical work in the data center, but later went to new tweets, read more about them below.
  2. Recently, they have implemented the verification of users and possibility of depositing large sums from the Bank account. Trading volumes went up, as did the price of bitcoin compared to other exchanges.
  3. Affiliated company (Forex broker) continues to function (conclusions work).
  4. Major discharges to air from the stock exchange was not (transactions for the last day either):
  5. Perhaps 10-12 million revenue per day (the approximate amount of commissions collected, taking into account the daily volume of trading) is quite an interesting reason.
  6. On August 31, the official Twitter account BTC-E reported that the equipment from their data center was seized by FBI employees, and they got access to part of the funds. The company promises to 1-2 weeks to find out the extent of the damage, the possibility of resuming the operation of the service, and that it is not possible to run it until September 1 to return to the user of the tool. The company also said that the arrested in Greece Alexander Vinnik had nothing to do with the stock exchange.

Facts not in favor of trust BTC-e

  1. Despite the verification, the exchange does not enter into any contracts with partners, for example, when I want to replenish the amount of more than 600 000 rubles per day currency transfers from me require an agreement with the exchange, and it is not. In support of the report that such agreements are not concluded.
  2. The owners of non-public and want them to stay (valued beliefs given the fact, as in Russia are eager to close people and to block sites without even trying to understand the laws).

BTC recovery

What can be

  1. On July 25, a message appeared on the official Twitter account of the exchange stating that due to technical works BTC-E data center may be temporarily unavailable. And here is the most recent tweet that they need more time to restore service. The approximate time from 5 to 10 days.
  2. News agencies associate the person of the owner of BTC-E with the arrest of Russian Alexander Vinnik, accused of laundering 4 billion in cryptocurrency. The FBI established for Vinnik surveillance last year due to suspicions of involvement in the loss of money in 2014 from the cryptocurrency exchange Mt.Gox. Read more here.
  3. Both events took place almost simultaneously, so it looks like they are connected.
  4. All is well and really any pictures in the data center incorrectly connected the RAID, or spilled coffee on the server
    Much was preparing for SegWit and nakosyachili with cryptography or something or software.
  5. They hacked and stole the money and the owners are trying to prevent panic and mass withdrawal if the exchange returns back to online.

What I will to do–, Too, that and always

  1. Continue to accumulate Bitcoin, Ripple, Ethereum, ETC, and a dozen more coins from the portfolio.
  2. Buy bitcoins, ether and other cryptocurrencies on the drawdown
  3. (continue) On the exchanges to keep only part of the facilities for online trading and high – 1 month’s Deposit for the purchase (I buy the crypt every month).
  4. Store crypto-currency on a cold multicurrency Ledger wallet Nano’s (I got myself two – 1 primary and one backup – an exact copy of the first). If you hear about it for the first time, it is a wallet from which you can not steal a private key and it allows you to safely work with Bitcoin, Litecoin, Ethereum (ETH), ETC, Dash, ZCash, ether-based tokens purchased at ICO.

Still decided to withdraw more funds for cold storage, not only bitcoins, but also Ripple, ETH, etc.