I hope this is real, us UK Bitcoiners have been needing a proper exchange for awhile now.

Edit: I just checked their account process and it looks like they're forcing you to use two factor authentication, looks legit but I'm not a great fan of the two factor spam and weirdness I know how to manage my own passwords and security bah.

Edit 2: Oh that's nice, you can do it with just your phone and a code! No problem.

https://bt.irlbtc.com/view/115669.msg3685458#msg3685458
https://bt.irlbtc.com/view/325676.0

they have a dodgy past

hmm swing vote here..

GLBSE shut down as it was not regulated.. this time, it appears he is doing it properly.. so he may have learnt his lessons. atleast once he is making profits anyone that lost money in GLBSE can then get it back by sueing him personally, now that he has some money behind him and a reputation to protect in this new venture.

i say swing vote because instead of just staying anonymous making 3 exchanges where no one knows who the owner is. he has actally put his name out there in plain sight. and like all more honorable companies. stuff like:
Coinfloor is a company registered in England and Wales registration number 08493818. We are a registered Bureau de Change. Her Majesty's Revenue and Customs certificate number 12713897. Our company is registered at 200 Aldergate C/O Buckworth Solicitors EC1A 4HD London, United Kingdom.

is worth its weight in gold. all i would say is, never throw life savings into a third parties pocket. just use "disposible" income amounts on exchanges and protect your main hoard in your sole possession under a cold/paper wallet privkey which only you know and have access to.

i personally will play with maybe 5btc at a time on the exchange.. but i sure am not gonna throw my hoard at it, nor any other exchange, no matter how honourable they seem

we just need some time to see how it will work to understand all the local pecularities of this exchange

We'll have to see, HMRC are a pretty paranoid lot and are a different breed from FinCen, so we'll have to see what goes on, HMRC just might be the first step and then they go to the FSA, you have to bear in mind though that the UK's FSA is a rich boys club, so they're going to have some trouble setting up if they're nobodies and make sure they're all legal. Did any of you hear about the Bank of Dave? a.k.a Burnley's Savings and Loans? That guy had a lot of trouble with the FSA because of how bad he was making them look so they didn't want anything to do with him.

I wouldn't put too much stock with the FSA but if the HMRC is doing their homework then they're probably going to be pretty strict with a Bitcoin exchange, in fact you can see the signs already because they're forcing you to use two factor authentication to sign up, knowing the FSA they probably had to claim they were 'only' money changers because they were being blocked by them.


I just found this which you guys might be interested in, it explains the lack of FSA.

http://money.cnn.com/2013/10/29/investing/london-bitcoin-exchange/

Nefario -- with malice of forethought -- shut GLBSE down in a manner guaranteed to cause many or most of the exchange's users to lose money. He deliberately chose to not send asset owner data to each and every asset issuer. He deliberately chose not to allow asset holders, nor asset issuers access to even a snapshot of the final balances of their accounts.

I could go on (and on and on) as to how the shutdown was maximally bungled.

The bottom line is that he deliberately chose to cause his users to lose $millions.

If that's the kind of person you wish to entrust with your funds, I have no response.

There was recently another "UK" exchange with whom Nefario worked, claimed to have received millions in funding but looked dodgy as hell too. I don't remember the name and can't find it. But I guess this is a reincarnation?

Any update on this ? would be good to hear from someone that has used this site.