Topic: BitMarket.Eu has closed down - page 27. (Read 204282 times)

There is a reason why bankruptcy procedures are well established and proven practice.

You don't have "frozen" coins for there are no coins at all. In this case "frozen" is just an oxymoron for missing! You can get some coins only if bitmarket.eu makes profit in the future.

So, you are ready to live with the constant extortion of shutting up this website and losing your "frozen" coins?

The liquidation in a bankruptcy procedure doesn't mean that this website will be liquidated. Liquidation means that creditors will get best possible price for the service and that current owner will be held responsible including criminal charges! Only then you can be confident that current owner made their best efforts to compensate creditors!

Now I'm confused 

Yeah, the so called "well established bankrupcy procedure" is always possible. For that everyone is free to click the option "i do not want to cooperate". It is well established in the sense that lawyers are the only winners in the end...I have seen this in practice several times, maybe in poland its different than in Germany, but i assume its about the same.

At least i would not prefer this option, it would take quite some time to liquidate, a good bunch will go to lawyers and the liquidator. I was also considering this option for my frozen coins, since it is the "official standard procedure", but out of my frozen 620 coins I would get back maybe 50 after one year, the current estimate is maybe 6% and the admin would not be able to do any work on that site and unless he wins the lottery it is not likely that in the next years there would be any payout.

I (personally) am also not willing to bid for an auction for the website in case of liqudation, so at least my planned investment of 10000 euros into the site would be gone, one would need the admins support to learn how the site works and so on and by just buying the site in an auction this would not be possible. Otherwise you can start from scratch anyway. But maybe i am wrong, there are plenty of investors just waiting to take over the site and pay a lot of money for it....


In any case, tacoexperience said everything about "negativity", in this case here you can basically chose between

A) I dont get my money back
B) I dont get my money back, but i have a chance.

So, at least for me, i take the B option

Of course. There is a well established bankruptcy procedure that has to be followed. Bitmarket.eu must be put on for an auction and proceeds shared among creditors. If this service has any value then creditors will get something back.

Hey mralbi yeah I got a little carried away.. but I've been reading this for months now.. and I'm tired of the negativity, and the constant trashing of it. All the negative sh*t that the webmaster should have taken, I'm sure he did, and it's enough. People that have all these negative feelings towards him, and they have reason to be, because they were robbed, just like me, had almost 2 months to air it out. Continuing to trash him and what the new guys are trying to do has absolutely NO gain whatsoever. All they are doing is making sure that his business will fail, and we won't get anything at all..

So that's where I am now.. I'm pissed off at all those that keep trashing and trashing and trashing them. Someone wants to keep at it, them keep it private.. we probably have already heard your opinion before.

The ONLY way anything good can come out of this is with support. Quite frankly I just can't believe that he hasn't told all the critics/haters to flick one and then disappear..

Hopefully something positive comes out of this.

tacoexperience, good post, all is true....

and hey, 50% initial payout? What are you dreaming of ;-) why should anyone take the 30% option then ;-) Estimate something like 6%

You haters out there are so pessimistic. Here are all those guys trying to get together and make something work, and all you have to say is this verbal diarrhoea..

Have someone f***ed up with your money? YES! Will you ever see ALL of your BTCs again? Probably not. BUT (BUT!!!!!!!!!) they are trying to fix the problem, get something back to you-if not all in the long term, brainstorming best ways, finding investors, developing the site, and so on..

But I know what you'll say: THOSE guys robbed all of us!!!!!!

You know what? They (or he) did.. he screwed up, and he should go to jail for that. Will this help you in any way possible? NO!. But he has balls to come here, admit it, and is working his ass off to fix his mistake. He could have simply disappeared like the guys from previous websites I've been reading on this blog.. but he didn't. He (and now, they) are trying to get things moving and return all the funds they can.

THEY HAVE GIVEN YOU OPTIONS! key word: OPTIONS!!!!! If you take this guy to court, do you think you, or anyone else would get even a PENNY back? This guy is not Kim Dot Com with millions stashed away! And please, he's in Eastern Europe! nouf said!

How about we all start acting like adults, help this man (not by giving him money, of course, but by supporting him and his business) so this new business venture can make some money and pay whatever they can back? When they start getting marketing revenue I'm sure their bottom line will start increasing, and more payments would be done.

I know the amount owed is astronomical, specially with BTCs at current prices, but these guys are trying. So how about we jump on board, and promote his business, instead of killing it and loosing all the BTCs we could have gotten back. Probably not a lot of people that read this regularly would go back (although some did, as I've read), but there are MILLIONS of people getting introduced to bitcoins every day, just as I was a few months back.

Think it this way: the corner shop screwed up by (i don't know) selling bad stuff. The guy came clean and he owes you money. Wouldn't you want his business to do well so you could get your money back? As they said on ESPN: COM'ON MAN!!!!!!

I'm tired of reading this non-sense. WE (me included, as I have BTC34.1 frozen) should support this, by whatever option works best for you, so this business can hopefully grow and we can all get over this mess. FOR THE SAKE OF BITCOIN!

Now go and eat a taco! you must be hungry!


first edit: I chose to get the 30%, and they can keep the rest. Help them out. My option is to get a little back.. I'm happy with that.

hi mate, choosing cooperate, how much it is the initial payment? 50%?

well, you have read the alternatives i assume ;-) You can chose between pest and cholera that means:

A) Either you do not get your coins back or
B) you do not get your coins back, but you have a chance to get something back


actually i would say the "cooperate" is the best option, where you can expect an initial payout plus payback of the rest over time eventually at least. Investor is actually a bit more risky, since you do not get any initial payout, but in the long term it might be better, lets say in 25 years when debts are paid back and you would get a share of net profits ;-)

In case you need quick cash, i think the 30% option is better than nothing and in case you have enough money for a lawyer you can try the "do not cooperate" option.

In case you want to get some coins, do NOT chose "donate" ;-)

hello guys, I have lost a lot of btc, and I do not know how to respond to the questionnaire, what is the best way to recover btc ?

I thought the bitmarket model was the safest there was out there and I used it happily.
18K Bitcoins debt is Huge and warrants a miracle.
We learn and learn and learn.
All my compassion for you young man and those who lost again with bitcoins.
And may bitcoins flow again in our lives, and we keep these coins moving.

Time for a miracle and to read and apply A Course In Miracles.

HOW it is possible to repay debts is indeed the most tricky question. (Newly) invested money is one part to repay frozen coins, the rest needs to come of course from future profits, for which i proposed the 50/50 model to share between the investors to get their investment back (new money and introduced frozen coins as shares) and the other half goes to the non-invested frozen coins in addition to the initial payout until 100% of the debts are paid back.

Bitmarket.eu service would in principle stay as it is, but extended by new P2P services where user can trade also other things as bitcoins. Plus there will (hopefully) some sponsor links (external shops) that pay part of their turnover to bitmarket when using the bitmarket referral link and there would also be user specific advertismenet space to be sold.

I mean no one would promise any quick profits over night and there would also be a lot of development work to be done at first, but i think it is the best way out of the current situation and i really hope it will work, since i also have "some" frozen coins which i would like to see back one day

I think your willingness to "clean up" and help to do the best to get out of the situation contributed a lot and is highly appreciated and honored. When the remaining results stay like this the bitcoin community might get a big chance to start a new platform "owned" by many stakeholders that are highly interested in the success of the new project.

Hi!


are these 91% of the questionairies or 91% of the BTC debt amount? And what is the number the other way round?


Here also, the BTC dept sum of the creditors wanting to become investors is interesting.

The first question that needs to be answered before any other question in any other questionnaire is how do you intend to repay your debt to bitmarket customers?

Just a small update about how things are progressing with the questionaire we sent to users:

We got 209 answers so far, which is 16% of all accounts. That's relatively low in terms of number of users, in terms of BTC, it's 45% of all debt BTC claimed.

Of these, 91% agreed either to cooperate with our plan, or to become an investor (more precisely, 1/4 of all creditors want to become investors, so far). Only three people decided not to cooperate. While this is unfortunate, I think we can handle their cases individually somehow. The rest either wants to take a partial recovery as soon as possible, want to contact us directly first, or decided to donate their share.

I was a bit worried about how people will react to this questionaire, but I am very positively suprised. If things continue to progress in this direction, we may be able to handle this.

no one can ever be 100% sure that the new owners do any better.
But the plan is to introduce a couple of measures to minimize the risks:

-First of all a multiple eye principle, where it should not be possible that one single person is alone in charge of handling the coins
-secondly we want to keep all principles of good bookkeeping. Since there will be for sure multiple investors it is necessary to introduce a monthly reporting about the situation. It would NOT be possible to hide any problems for long time.
-There will be a regular impressum of the responsible persons of the site and at least my name / address etc. will be publicly available

I also have taken the decision to invest in the site.

bitmarket has never charged any fee before this sad situation.
I think the comunity now can help it and try to keep it alive

To participate in the new birmarket.eu seems for me to be good idea.
As I don't see any positive to shut down the site or to blame the old owner for lifetime (he did a good job a long time before he got crazy and spent my bitcoins without to ask me...!)

I would agree to give my (hold on) bitcoins to restore this business - but, how can I be sure that the new owners really will try to solve the problems and never will do such things again?
And if I see (after some time) that things don't go the right way do I have the chance to change my decision and get (at least a part of my hold-on) bitcoins back?

Despite all the uncertainty about Bitmarket.eu, I have used the platform to buy more than 100 btc over the last couple of weeks since it was re-opened. I was able to withdraw these coins without any issues.
Despite the bad decission taken by the owner, I have to give him credit for searching for a solution to this problem.

For my part I have taken the decission of investing my bitcoins on hold, even if I might never see profits arising out of this investment. I love the idea to be a partly owner of the platform.

I do hope that we are able to keep bitmarket.eu alive.