Everyone,
Please read this thread starting here https://bitcointalksearch.org/topic/m.561346
BEFORE you submit all the personal information Bitcoin7 is requesting in order to "verify your account"
This may be an identity theft attempt.
Topic: Bitcoin7.com - is it safe? (Read 5148 times)
And yet another exchange goes the way of the dodo, in a highly dubious manner.
I saw this coming a month ago, after I tried lodging €600 to bitcoin7's european bank account. The funds never appeared in my account, and after two weeks of waiting, and exchanging several emails with their "support" staff, they could not determine where my funds went and were unable to help me. Extremely unprofessional.
A few days later, I received a payment of €600 back to my bank account. I have no idea how, why, or where it originated from. Perhaps they made some mistake, dismissed my complaints, then realized what happened and sent the money back without contacting me. I don't know.
That was my first, and thankfully last, interaction with bitcoin7.
I saw this coming a month ago, after I tried lodging €600 to bitcoin7's european bank account. The funds never appeared in my account, and after two weeks of waiting, and exchanging several emails with their "support" staff, they could not determine where my funds went and were unable to help me. Extremely unprofessional.
A few days later, I received a payment of €600 back to my bank account. I have no idea how, why, or where it originated from. Perhaps they made some mistake, dismissed my complaints, then realized what happened and sent the money back without contacting me. I don't know.
That was my first, and thankfully last, interaction with bitcoin7.
Turns out NO:
Quote
Dear User,
Please read carefully the following critical announcement.
On Oct 5th 2011 Bitcoin7.com became the victim of a number of pre-planned hacker attacks. While our investigation is still going, evidence reveals that the attacks originated from Russia and Eastern Europe.
The attack itself took action not only against the bitcoin7.com server but also against other websites and servers which were part of the same network. Eventually the hackers managed to breach into the network which subsequently lead to a major breach into the bitcoin7.com website.
As a result of the hacking, unknown individuals managed to gain full access to the site's main bitcoin depository/wallet and 2 of the 3 backup wallets.
In addition the hackers gained access to our user database.
Even though our faith in the bitcoin project and community remains as strong as it ever was, it is our responsibility to admit that the scale of the damage is far beyond our financial and physical capabilities.
This is why we have decided to cease the operation of bitcoin7.com and instead of investing in new technology and personnel that could possibly help us overcome this unfortunate situation, we decided that we'd rather gather all possible finances through all possible means and initiate a crisis plan for reimbursing the lost balances of our users.
This is also an open invitation to all interested investors which have interest in taking over the site at the only cost of recovering the stolen bitcoins.
The crisis plan will take action over the next 90 days. On behalf of the management of bitcoin7.com we want to apologize for this extremely stressful situation.
More specific updates will follow within the next 24 hours with detailed instructions about how to withdraw your funds.
Please read carefully the following critical announcement.
On Oct 5th 2011 Bitcoin7.com became the victim of a number of pre-planned hacker attacks. While our investigation is still going, evidence reveals that the attacks originated from Russia and Eastern Europe.
The attack itself took action not only against the bitcoin7.com server but also against other websites and servers which were part of the same network. Eventually the hackers managed to breach into the network which subsequently lead to a major breach into the bitcoin7.com website.
As a result of the hacking, unknown individuals managed to gain full access to the site's main bitcoin depository/wallet and 2 of the 3 backup wallets.
In addition the hackers gained access to our user database.
Even though our faith in the bitcoin project and community remains as strong as it ever was, it is our responsibility to admit that the scale of the damage is far beyond our financial and physical capabilities.
This is why we have decided to cease the operation of bitcoin7.com and instead of investing in new technology and personnel that could possibly help us overcome this unfortunate situation, we decided that we'd rather gather all possible finances through all possible means and initiate a crisis plan for reimbursing the lost balances of our users.
This is also an open invitation to all interested investors which have interest in taking over the site at the only cost of recovering the stolen bitcoins.
The crisis plan will take action over the next 90 days. On behalf of the management of bitcoin7.com we want to apologize for this extremely stressful situation.
More specific updates will follow within the next 24 hours with detailed instructions about how to withdraw your funds.
Looks like the best thread to add to.
I'm giving up on Bitcoin7 because it is too unreliable. I have been trading EUR and USD there and despite providing evidence to their support people, they think I'm making up problems. Two big faults.
1: If you trade at a price different to highest/lowest, it will transact at that rate. For example, if the highest bid is $10 and you put in a sell at $8, you get $8 (where the difference goes is a mystery)
2: When I trade EUR, lots of the time it converts it to USD. This is a real pain if selling. I've tried selling at EUR8 and then it zapped over to USD and sold at USD8 when the USD price was closer to 10, then see point #1.
I've lost out too much on their system. Odd thing today - I can't even withdraw BTC.
Anyone else having this grief?
I'm giving up on Bitcoin7 because it is too unreliable. I have been trading EUR and USD there and despite providing evidence to their support people, they think I'm making up problems. Two big faults.
1: If you trade at a price different to highest/lowest, it will transact at that rate. For example, if the highest bid is $10 and you put in a sell at $8, you get $8 (where the difference goes is a mystery)
2: When I trade EUR, lots of the time it converts it to USD. This is a real pain if selling. I've tried selling at EUR8 and then it zapped over to USD and sold at USD8 when the USD price was closer to 10, then see point #1.
I've lost out too much on their system. Odd thing today - I can't even withdraw BTC.
Anyone else having this grief?
Quote
Even people who were born there don't want to stick around.
Extremely redneck of you to say that. Just glad that's not the story with the most part of the BTC community. If you were a little bit more informed (not CIA - really hypocritical when they speak about drugs
) you should know that almost every country in the EU suffers from negative population growth. Just a question of culture ...And this is my last point not regarding the topic.
Now on the topic - here is an open letter from bitcoin7. Almost everything is previously mentioned in other topics. So almost no news there http://forum.bitcoin.org/index.php?topic=21526.0;topicseen They did a REAL mess on the start. Hope things will turn well. I really like the design and the fast BG>BG transfers.
Even people who were born there don't want to stick around.
[...]
Rumours and chatters indeed.
How about you don't derail this thread and stay away if you don't want to do business with bitcoin7 ? Thank you. [...]
Rumours and chatters indeed.
Every day a new reason for facepalming. Quite a few today ...
I guess rumours and chatter are the best source of information these days. Still cannot believe what poor perception of the world some people have. But hey, no problem as yet we are just embracing the Dark ages in BG. Just a bunch of uneducated, clueless internet trolls we are ...
I guess rumours and chatter are the best source of information these days. Still cannot believe what poor perception of the world some people have. But hey, no problem as yet we are just embracing the Dark ages in BG. Just a bunch of uneducated, clueless internet trolls we are ...
I've tried it a few times and it works just fine. The transfers are superfast. They started on the wrong foot with all the copied stuff, but I think in time bitcoin7 will establish a good service. Relatively small market though ...
Just to make things clear I'm from Bulgaria, the "place particularly reknowned for shady internet business practices" (which is a total BS an a typical ignorant ass statement, but we are used to it). The company behind Bitcoin7 is not very known here, but there is no negative chatter either. I guess time will tell, but so far so good (especially when their bank account is at the same bank I'm using = 1hr transfers
)
Just to make things clear I'm from Bulgaria, the "place particularly reknowned for shady internet business practices" (which is a total BS an a typical ignorant ass statement, but we are used to it). The company behind Bitcoin7 is not very known here, but there is no negative chatter either. I guess time will tell, but so far so good (especially when their bank account is at the same bank I'm using = 1hr transfers
)
I've used all the exchanges including Bitcoin7. Don't put all your eggs in one basket.
Comparatively, Bitcoin7 so far has one of the fastest withdrawal times to either dwolla or LR. They're easy to use as well. You can see all the bids and asks on one page in a clear format.
As far as how secure their site is - I have no idea. Again, don't put all your eggs in one basket. Or all your bitcoins in one exchange.
Comparatively, Bitcoin7 so far has one of the fastest withdrawal times to either dwolla or LR. They're easy to use as well. You can see all the bids and asks on one page in a clear format.
As far as how secure their site is - I have no idea. Again, don't put all your eggs in one basket. Or all your bitcoins in one exchange.
Since you're a user of BC7 - can you tell me how their trade API compares to other markets? The link seems to be dead in the footer, but if they have a working API and fast payout times, it's definitely worth a look.
trying this service now. deposit was Instant so far so good.. Time will tell..
Edit
sale went though fine. yes it is 5% for paysafe. I would like an option to change between euro and usd though.
Edit
sale went though fine. yes it is 5% for paysafe. I would like an option to change between euro and usd though.
i will try this later 
Bitcoin7 has worked alot better for me in the past week than MtGox. MtGox didn't bother to complete Liberty Reserve withdraws that I ordered about a day before they had the problems. There is no reason why MtGox can't send me Liberty Reserve that has nothing to do with and predates any hacking attempt. I have done several LR withdraws from Bitcoin7 in the past few days and they have all been within 3 hours or so. That is much better and more professional in my opinion than MtGox who does LR withdraws in 3 days or as long as they feel like keeping you waiting. I'm sure Bitcoin7 has some security and software flaws as do all websites. But right now I think there biggest problem is that they don't have enough users.
I used it with amount about $200 - everything went smoothly, instant deposit and instant withdrawal. The only drawback I see is the low trading volume.
I am going to try It as its the only one I can deposit money with Instant. Well having to use paysafe so walk to corner shop and back 10 mins is better than the current few days
I would suggest to look at volumes. If some exchange advertises that it's the best throughout whole forum, but noone uses it - it makes sense to think twice before trying it out with big money.
I'm currently trying to buy some coins on bitcoin7 for 12 USD each (higher than current TH price), as they offer instant deposit from LR. I guess withdrawals are also instant, so it is a chance for somebody to sell their coins higher than current market price.
I don't see anything wrong with Bitcoin7.
then open you eyes and read some documented facts.
People just want trade hill referrals. I don't see anything wrong with Bitcoin7.
I would definitely advise against using Mt. Gox at this time (as of this moment, their market isn't online) in favor of Trade Hill or even a EUR exchange, and then converting your EUR profits into USD.
http://www.btcnn.com/2011/06/not-everything-is-as-it-seems-at-mt-gox.html
http://www.btcnn.com/2011/06/not-everything-is-as-it-seems-at-mt-gox.html
its totally safe, yet 
fast in and out money!
fast in and out money!
Well its not been hacked yet if thats what you mean by safe?
Technically, you are right. It has not been hacked causing any loss, but it could have been.
The probblem is the cavalier attitude and commentary of Bitcoin7 when notified of those insecurities.
This begs the question, "what else is there to find thats exploitable?", since its obvious Bitcoin7 cares little about them and minimises them to the people trying to help them.
That said, the known flaws have been closed.
Besides, just the attempt to bribe the bitcoin developer is enough for me to never use them.
Well its not been hacked yet if thats what you mean by safe?
I have no dog in this fight either, but I was doing some research on exchanges so I didnt put all my eggs in one basket.
If you read this thread: http://forum.bitcoin.org/index.php?topic=17004.0
... you will see the guy who runs Bitcoin7 has::
If you read this thread: http://forum.bitcoin.org/index.php?topic=17004.0
... you will see the guy who runs Bitcoin7 has::
- Tried to bribe a bitcoin developer to say that bitcoin7 was better than mtgox. (reference link)
- Has no idea of the technology his own site uses that inaccurately computes currency values.
- Has no idea of the technology his own site should be using to accurately compute currency values.
- Been told about exploitable areas in his site, just to minimize them when bitcoin community professionals informed him of them.
- Argued with, belittled, and maligned those professionals who tried to help him fix the problems with his site.
- Uses PR gibberish to explain away and minimize problems with his site.
- Has lied to the community about seriousness of the flaws in his site/security.
Ah, so he's as clueless as the Tradehill people appeared on Bruce's show and as insecure as Mt. Gox. The only difference now is he's operational...
I have no dog in this fight either, but I was doing some research on exchanges so I didnt put all my eggs in one basket.
If you read this thread: http://forum.bitcoin.org/index.php?topic=17004.0
... you will see the guy who runs Bitcoin7 has::
Personally, by his own words, I think the guy is a dickhead, bullshit artist, PR person, has no clue about the working of his own site, who will say anything and do anything regardless of ethics and legality to add fake legitimacy to Bitcoin7.
When dealing with other peoples hard earned money, you take it seriously.
Your customers safety, security, and money should be the absolute most important things.
In my opinion, he could care less about you and will step on your neck if needed to grow his fledgeling Bitcoin7 business.
If you read this thread: http://forum.bitcoin.org/index.php?topic=17004.0
... you will see the guy who runs Bitcoin7 has::
- Tried to bribe a bitcoin developer to say that bitcoin7 was better than mtgox. (reference link)
- Has no idea of the technology his own site uses that inaccurately computes currency values.
- Has no idea of the technology his own site should be using to accurately compute currency values.
- Been told about exploitable areas in his site, just to minimize them when bitcoin community professionals informed him of them.
- Argued with, belittled, and maligned those professionals who tried to help him fix the problems with his site.
- Uses PR gibberish to explain away and minimize problems with his site.
- Has lied to the community about seriousness of the flaws in his site/security.
Personally, by his own words, I think the guy is a dickhead, bullshit artist, PR person, has no clue about the working of his own site, who will say anything and do anything regardless of ethics and legality to add fake legitimacy to Bitcoin7.
When dealing with other peoples hard earned money, you take it seriously.
Your customers safety, security, and money should be the absolute most important things.
In my opinion, he could care less about you and will step on your neck if needed to grow his fledgeling Bitcoin7 business.
I've used all the exchanges including Bitcoin7. Don't put all your eggs in one basket.
Comparatively, Bitcoin7 so far has one of the fastest withdrawal times to either dwolla or LR. They're easy to use as well. You can see all the bids and asks on one page in a clear format.
As far as how secure their site is - I have no idea. Again, don't put all your eggs in one basket. Or all your bitcoins in one exchange.
Comparatively, Bitcoin7 so far has one of the fastest withdrawal times to either dwolla or LR. They're easy to use as well. You can see all the bids and asks on one page in a clear format.
As far as how secure their site is - I have no idea. Again, don't put all your eggs in one basket. Or all your bitcoins in one exchange.
Stay away from bitcoin7
They smell very fishy, there are a bunch of threads popping around about it
They smell very fishy, there are a bunch of threads popping around about it
I don't really have a dog in this fight but it seems like you are popping a lot of those threads up.
My 0.02 BTC, and I really don't care as I'm affiliated with absolutely no one, but it seems like the elder forum members need to accept that the market around BitCoin is going to grow and involve people that don't feel the need to communicate directly with the project or elder forum members. Just because they haven't sought blessing by Bruce Wagner or advertised on his show doesn't mean they are a scam. At some point you have to let the market develop on its own and not babysit it.
Not hatin' anyone. Just observing that the inside clique of early BTC'ers seems unusually put off by people they don't know setting up business around BitCoin instead of encouraging the market to be free and manage itself. I thought that was kind of the point of a distributed P2P currency.
Yes that's right, I guess I associated bitcoin7 with the e-book scammers a little fast :/
So, even though there might be a couple of technical issues on the site (that seem to be worked on), I don't see any reason to question their honesty at all.
I apologize to bitcoin7 about that.
Stay away from bitcoin7
They smell very fishy, there are a bunch of threads popping around about it
They smell very fishy, there are a bunch of threads popping around about it
I don't really have a dog in this fight but it seems like you are popping a lot of those threads up.
My 0.02 BTC, and I really don't care as I'm affiliated with absolutely no one, but it seems like the elder forum members need to accept that the market around BitCoin is going to grow and involve people that don't feel the need to communicate directly with the project or elder forum members. Just because they haven't sought blessing by Bruce Wagner or advertised on his show doesn't mean they are a scam. At some point you have to let the market develop on its own and not babysit it.
Not hatin' anyone. Just observing that the inside clique of early BTC'ers seems unusually put off by people they don't know setting up business around BitCoin instead of encouraging the market to be free and manage itself. I thought that was kind of the point of a distributed P2P currency.
Note also that I at least didn't advise to stay away from them, only to be careful. Perhaps with time they'll be able to make up for their past mistakes and establish their reputation as a legitimate exchange.
Stay away from bitcoin7
They smell very fishy, there are a bunch of threads popping around about it
They smell very fishy, there are a bunch of threads popping around about it
I don't really have a dog in this fight but it seems like you are popping a lot of those threads up.
My 0.02 BTC, and I really don't care as I'm affiliated with absolutely no one, but it seems like the elder forum members need to accept that the market around BitCoin is going to grow and involve people that don't feel the need to communicate directly with the project or elder forum members. Just because they haven't sought blessing by Bruce Wagner or advertised on his show doesn't mean they are a scam. At some point you have to let the market develop on its own and not babysit it.
Not hatin' anyone. Just observing that the inside clique of early BTC'ers seems unusually put off by people they don't know setting up business around BitCoin instead of encouraging the market to be free and manage itself. I thought that was kind of the point of a distributed P2P currency.
Tradehill most likely ripped a lot of THEIR texts as well from other sites - and they are stupid enough to post links to ponzi schemes on a Bitcoin exchange site!
Stay away from bitcoin7
They smell very fishy, there are a bunch of threads popping around about it
They smell very fishy, there are a bunch of threads popping around about it
Great, thanks Meni Rosenfeld for the help! I think I will stay away from bitcoin7.com and choose mtgox or Tradehill instead
You should be very careful with them. FYI they copied most of their text from TradeHill.com, a legitimate recently opened exchange (Bitcoin7 claims the dog ate their copywrite, or that outsourced copywriters copied that text without their knowledge, or something like that). Maybe you should try Tradehill, especially if you liked the text about vision and such you saw on bitcoin7.
In my opinion they are not fake but bad programmers.
So are you saying that it is safe to do business with this website or not? btw, I did use the search function.
In my opinion they are not fake but bad programmers. Please make sure to use the search function first next time!
I am looking into investing in bitcoins (not mining, just buying). I know mtgox.com is a good site but I came across another site that I personally like better (as long as it is legitimate). It is bitcoin7.com... does anybody know if this is an honest site?
I don't want to have my money stolen or scammed by a fake site. Thanks in advance.
jbgc
I don't want to have my money stolen or scammed by a fake site. Thanks in advance.
jbgc
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