Bitmit - Bitcoin shopping mall - Bitcoin market place - Bitcoin auction house - page 6.

row5_seat47

full member

Activity: 226

Merit: 100

Quote from: ReCat on November 14, 2013, 01:54:27 PM

Quote from: TheButterZone on November 14, 2013, 04:08:19 AM

Quote from: Global BTC on November 14, 2013, 01:49:34 AM

Quote from: HalfPriceDigital on November 13, 2013, 08:49:17 PM

But the system is easily gamed. The seller can send an empty box, and provide a tracking number to the escrow company to "prove" that they sent the item and then it is the seller's word against the buyers word about what was in the box.

That would not have fooled Bitmit's Escrow system. They made individual inquiries in every case, AFAIK. A tracking number is $2 and proves nothing.

In the case of starsoccer9, it absolutely did fool the "system" (which used to say that an empty unboxing video was sufficient proof of seller fraud). Bitmit attempted to revise history and claim this was never their policy, and effectively said that the tracking number alone was more proof that the item was delivered, than the unboxing video with the label still on, showing the seller & buyers' name/address, and tracking #, tape being cut away, revealing an empty box.

Shortly after, the site starts shutting down.

Scammit.

I think everyone should take video of them packaging the item, and then SEALING it with serialized security tape, then LOOKING CLOSELY at the security tape, to make clear it's serial number on video, and then handing it off to a USPS employee, and FILMING them weigh it and paying for it, and continuing to film the employee take the package to the back of the building where the other packages ready to be shipped are located.

Problem solved.

Anatomy of a Scam: Sleeper Cells on eBay
http://www.ecommercebytes.com/cab/abn/y13/m03/i13/s01

Continued "More Transparency needed on eBay"
http://www.ecommercebytes.com/C/abblog/blog.pl?/pl/2013/3/1363143352.html

The Video

China Sleeper Cells on eBay "Android Mini PC Unboxing"
http://youtu.be/69uKusLqwWw

bernard75

legendary

Activity: 1316

Merit: 1003

I tried Coingig, its a nightmare and the other made overnight wannabes i dont even try.

Anon136

legendary

Activity: 1722

Merit: 1217

Quote from: moderate on November 16, 2013, 11:31:38 AM

Quote from: Anon136 on November 16, 2013, 11:13:07 AM

would anyone mind helping me build up some reputation?

You forgot to tag that as a joke, I certainly missed it.

that seems to be where most of bitmits business is moving. Undecided

do you know something about coingig that i don't and probably ought?

Welsh

staff

Activity: 3304

Merit: 4115

Quote from: ReCat on November 16, 2013, 05:30:29 PM

I wish that BitSumo guy would buy this company. He's really good at running BitSumo since he bought that.

That's true. Fible has done a great job thus far. Maybe a great candidate. He's professional and resolves any issues within a few hours. But, if bitmit is going to be run effectively. It needs staff members which Fible is not prepared to do I don't think.

ReCat

sr. member

Activity: 406

Merit: 250

I wish that BitSumo guy would buy this company. He's really good at running BitSumo since he bought that.

Welsh

staff

Activity: 3304

Merit: 4115

Quote from: MakeBelieve on November 16, 2013, 04:13:44 PM

Yeah. Bitmit has lost it's reputation now. I will not be using it again.

I think I feel the same way, I don't know the new owner and it looks like we are not going to find out. Therefore, I will not be using bitmit any more. Unless, we do find out who the new owner is and they are quite reputable I might reconsider. But, us as the customers to bitmit have been left in the dark really.

MakeBelieve

hero member

Activity: 602

Merit: 500

Yeah. Bitmit has lost it's reputation now. I will not be using it again.

HalfPriceDigital

newbie

Activity: 32

Merit: 0

Coingig is not an auction site. It's more like amazon. Auctions have the advantage of helping the buyer to determine the market price of a used item, like a used butterfly labs jalapeno miner. How much is that worth? Auctions are the best way to determine the price of used items with an uncertain value. If you're looking for a BitMit replacement try halfpricedigital.com

moderate

member

Activity: 98

Merit: 10

nearly dead

Quote from: Anon136 on November 16, 2013, 11:13:07 AM

would anyone mind helping me build up some reputation?

You forgot to tag that as a joke, I certainly missed it.

Anon136

legendary

Activity: 1722

Merit: 1217

hey guys since it looks like coingig is going to be the new bitmit would anyone mind helping me build up some reputation?

BitRun

newbie

Activity: 33

Merit: 0

The solution can be join Bitrun.net Marketplace! https://bitcointalksearch.org/topic/bitrunnet-bitcoin-marketplace-buy-sell-goods-escrow-low-fees-310551

starsoccer9

legendary

Activity: 1630

Merit: 1000

While I do agree that bitmit could become huge, I dont plan to use them ever again. I had talked with the owner many times and he was quite nice but then to close the site down without warning, not respond to my emails, and then to offer that I split the escrow and take a half loss on an empty box, the new owner will need to be very great. Bitmit has basically put there whole site to shame since they put up that they were ending it.

desert_beagle

member

Activity: 87

Merit: 10

So bitmit is going to be sold. How long would it take from the point it's sold for it to open for business again? Huh

razorfishsl

sr. member

Activity: 399

Merit: 250

Quote from: iCEBREAKER on November 14, 2013, 06:07:52 PM

Quote from: razorfishsl on November 14, 2013, 03:58:41 AM

It is a crock, they appear to be watching this forum and the comments,and looking for someone who knows fuck all about the site value and is stupid enough to be bullshitted into a stupid amount.

The reality of the situation is what exactly are you buying?

1. 'goodwill' ~ questionable…
2 'Assets' codebase+Domain name.
3. 'Liabilities'… potentially a shit load.

And if you do not have a clear LEGAL bill of sale, you are going to be in the shit, because when the authorities come knocking you have no proof that it was NOT YOU running the site all along.
Which in turn is potentially a shit load of legal action against you in the future.

Saying you 'legally' bought a suspect business, in no way absolves you from legal responsibility.

Wow, I can't believe you are both an internet lawyer and an internet asset appraisal specialist.

1. Goodwill = reputation = trust = brand recognition => INVALUABLE
2. assets = codebase/domain = turnkey startup with preexisting enthusiastic userbase => INVALUABLE
3. liabilities = problem of former owners = fresh start = chance to go legit and destroy ebay or take it dark (bitmit.bit or 3i3ld0cbitmit.onion) => INVALUABLE

BitMit is worth at least 100 Bitcoins. With adults in charge, real lawyers, and real marketing, it has the potential to make scAmazon and feeBay OBSOLETE.

Er no…..it's not, because of what has gone on. The shit related to this site extends all the way up into China and fraud/illegal practices there.

Why would I need to be an 'expert' ?, I pay people to do that for me….or I have a coffee and ask a friend to 'cast an eye' over something for me.

I'm aware of things going on in the background in H.K that you do not (in all respect) have a fucking clue about, and boy, it's interesting….

iCEBREAKER

legendary

Activity: 2156

Merit: 1072

Crypto is the separation of Power and State.

Quote from: razorfishsl on November 14, 2013, 03:58:41 AM

It is a crock, they appear to be watching this forum and the comments,and looking for someone who knows fuck all about the site value and is stupid enough to be bullshitted into a stupid amount.

The reality of the situation is what exactly are you buying?

1. 'goodwill' ~ questionable…
2 'Assets' codebase+Domain name.
3. 'Liabilities'… potentially a shit load.

And if you do not have a clear LEGAL bill of sale, you are going to be in the shit, because when the authorities come knocking you have no proof that it was NOT YOU running the site all along.
Which in turn is potentially a shit load of legal action against you in the future.

Saying you 'legally' bought a suspect business, in no way absolves you from legal responsibility.

Wow, I can't believe you are both an internet lawyer and an internet asset appraisal specialist.

1. Goodwill = reputation = trust = brand recognition => INVALUABLE
2. assets = codebase/domain = turnkey startup with preexisting enthusiastic userbase => INVALUABLE
3. liabilities = problem of former owners = fresh start = chance to go legit and destroy ebay or take it dark (bitmit.bit or 3i3ld0cbitmit.onion) => INVALUABLE

BitMit is worth at least 100 Bitcoins. With adults in charge, real lawyers, and real marketing, it has the potential to make scAmazon and feeBay OBSOLETE.

ReCat

sr. member

Activity: 406

Merit: 250

Quote from: TheButterZone on November 14, 2013, 04:08:19 AM

Quote from: Global BTC on November 14, 2013, 01:49:34 AM

Quote from: HalfPriceDigital on November 13, 2013, 08:49:17 PM

But the system is easily gamed. The seller can send an empty box, and provide a tracking number to the escrow company to "prove" that they sent the item and then it is the seller's word against the buyers word about what was in the box.

That would not have fooled Bitmit's Escrow system. They made individual inquiries in every case, AFAIK. A tracking number is $2 and proves nothing.

In the case of starsoccer9, it absolutely did fool the "system" (which used to say that an empty unboxing video was sufficient proof of seller fraud). Bitmit attempted to revise history and claim this was never their policy, and effectively said that the tracking number alone was more proof that the item was delivered, than the unboxing video with the label still on, showing the seller & buyers' name/address, and tracking #, tape being cut away, revealing an empty box.

Shortly after, the site starts shutting down.

Scammit.

I think everyone should take video of them packaging the item, and then SEALING it with serialized security tape, then LOOKING CLOSELY at the security tape, to make clear it's serial number on video, and then handing it off to a USPS employee, and FILMING them weigh it and paying for it, and continuing to film the employee take the package to the back of the building where the other packages ready to be shipped are located.

Problem solved.

moderate

member

Activity: 98

Merit: 10

nearly dead

Quote from: deepceleron on November 14, 2013, 01:34:17 PM

Quote from: TheButterZone on November 14, 2013, 04:08:19 AM

In the case of starsoccer9, it absolutely did fool the "system" (which used to say that an empty unboxing video was sufficient proof of seller fraud). Bitmit attempted to revise history and claim this was never their policy, and effectively said that the tracking number alone was more proof that the item was delivered, than the unboxing video with the label still on, showing the seller & buyers' name/address, and tracking #, tape being cut away, revealing an empty box.

This is why the only effective escrow to mediate the meeting of scam buyers and scam sellers is full escrow. Buyer sends escrow agent the money, seller sends escrow agent the merchandise, who verifies its legitimacy and authenticity to the conditions set forth by the buyer. Only when both money and merchandise are escrow-agent-approved are they released to the parties.

This is of course impractical for many items, requires time and a trustworth escrow agent, and would require double-shipping and appropriate fees, but would guarantee that no scammer gets away with their scam.

There is no need to send the money to the escrow agent, there are protocols possible today, and for some time already, that eliminate that need. The escrow only acts if one of the parties do not conclude the transaction, and even then no coins are sent to the escrow agent directly. The other part about verifying the merchandise was already mentioned here, by me, and it needs to be done.

It is possible to automate in good accuracy many items, requires knowledge and a trustworthy company.

deepceleron

legendary

Activity: 1512

Merit: 1036

Quote from: TheButterZone on November 14, 2013, 04:08:19 AM

In the case of starsoccer9, it absolutely did fool the "system" (which used to say that an empty unboxing video was sufficient proof of seller fraud). Bitmit attempted to revise history and claim this was never their policy, and effectively said that the tracking number alone was more proof that the item was delivered, than the unboxing video with the label still on, showing the seller & buyers' name/address, and tracking #, tape being cut away, revealing an empty box.

This is why the only effective escrow to mediate the meeting of scam buyers and scam sellers is full escrow. Buyer sends escrow agent the money, seller sends escrow agent the merchandise, who verifies its legitimacy and authenticity to the conditions set forth by the buyer. Only when both money and merchandise are escrow-agent-approved are they released to the parties.

This is of course impractical for many items, requires time and a trustworth escrow agent, and would require double-shipping and appropriate fees, but would guarantee that no scammer gets away with their scam.

This is why Christie's makes $17 million for selling one painting.

uk1

copper member

Activity: 546

Merit: 500