Bitcoin Market

Buy and sell bitcoins online - Quick and safe

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Bitrating update

Bitrating is a number that is 50 by default and 100 maximum. It is used by sellers mainly, to filter buyers based on trading history and verifications.

Most sellers have a high Bitrating (very close to 100) because of the amount of trading they do and being completely verified. When you look at the list of sellers, there isn’t a lot of difference to be seen in terms of their Bitrating score.

Some sellers will occasionally forget to log offline when they leave their computers and this is reflected in their Bitrating score (as missed sales). During the trade, if they don’t respond in time the buyer may send them a poke which is reflected on the seller’s profile. Not all buyers check the seller’s profile though.

From now on, a standard negative score will be applied to the Bitrating of sellers who do not send any messages in the first 10 minutes or go away from the keyboard for an unreasonable time during trade, allow rules to be broken etc.

This will give an incentive to sellers to take more care during trades and a way for buyers to be able to rank the sellers more easily. Buyers who do not wish to risk waiting for longer than necessary will prefer to pick a seller who has a higher bitrating, even if he is selling the coins at a slightly higher price.

Some examples of the scoring used (subject to change in the future without notice):

No update for first 10 min in WAIT_CONFIRM: -5 for a week
Not entering the sender name as soon as payment is received: -5 for a week
No response to a buyer’s question: -5 for a week
Ignoring a multi-acct sender name warning for a non-common name: -10 for a week
Delivering to wrong name (light): -5 for a month
Delivering to wrong name (strong): -10 for a month
Delivering to an unverified business: -10 for a month
Wrong information communicated to buyer: -5 for a week

These are guidelines only and depending on the severity and consequence of these actions the penalty may be increased or skipped.

Filed under BitBargain bitrating score penalty ranking communication

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Downtime

There is a network error at the data centre. The site is unreachable from the UK. We apologise for this inconvenience. A further 15-30 minutes of downtime is to be expected according to the hosting company. Thank you for your patience!

Filed under downtime network problem

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Dish Network to Accept Bitcoin

Most of Dish Network’s 14 million subscribers are probably not Bitcoin users. But that will not stop the company from accepting payments in the virtual currency later this year.

Dish announced on Thursday that customers would be able to make manual payments in Bitcoin beginning in the third quarter.

The most heart warming part of this article is seeing the light at the end of the tunnel as people ask the right questions and become intrigued with this currency:

(Source: The New York Times)

Filed under Bitcoin dish dish network accept adoptation

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Namecoin

Namecoin has been added to the list of valid coins that you can purchase on the site.

If you’ve ever seen a website’s domain sized by the DHS or your own domain name shut down for hours because one angry person wrote an e-mail and the registrar’s support handled it unprofessionally, you should understand the significance of a system like Namecoin.

Here’s a video about Namecoin:

https://www.youtube.com/watch?v=6OFv4fHsZQ0

The market price of a Namecoin is around $2.6 USD at the moment (based on BTC-e).

(Source: bitbargain.co.uk)

Filed under namecoin BitBargain upgrade coin option buy namecoins UK United Kingdom Buy NMC in the UK

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DNS problem

Our DNS provider NamesCo seems to be down, along with their DNS servers. Unfortunately we also cannot change the DNS server to our own until they resolve the issue.

As soon as they’re back, we’ll be moving the DNS service to our own servers and complementing them with ClouDNS for extra reliability.

If you’re in a hurry, you can temporarily add BitBargain to your hosts file as such:

188.227.224.121 bitbargain.co.uk

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UPDATE: names.co.uk came back - the DNS update request has been sent.

Filed under BitBargain DNS namesco downtime