Bitmit is Closing?? - page 3. | Bitcointalksearch.org

elux

legendary

Activity: 1458

Merit: 1006

Quote from: stevegee58 on October 21, 2012, 09:26:01 AM

I'm curious. Why operate a normal web site out in the open when you can just set up a Tor hidden service?

In general: Because you're trying to do business, and doing business as a hidden service will immediately kill most of that business.

What would happen to the trade volume of ebay if ebay.com suddenly moved to ebay(...).onion?

Even SilkRoad would (I presume) explode with traffic if it was feasible to operate securely in the clear. (Which it is not.)

Going hidden has to be an strict necessity in order to outweigh the not-so-trivial inconvenience to the customer.

(And the resulting loss of business to the business.)

Update: Having an optional hidden service would be nice, novel, and likely to attract some modest additional business, without being too costly.

Low hosting fees on hidden services, innit?

stevegee58

legendary

Activity: 916

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I'm curious. Why operate a normal web site out in the open when you can just set up a Tor hidden service?

Just because there are sketchy sites on Tor doesn't mean your site has to be sketchy. Operating a normal internet web site just opens yourself to all manner of regulatory (and law enforcement) interference even if you're not doing anything wrong.

freeAgent

sr. member

Activity: 240

Merit: 250

Quote from: tosaki on October 21, 2012, 09:12:45 AM

No, that really was no joke or stupid PR gag. But when one door closes another opens. I will publish details regarding our solution soon.

Awesome!

tosaki

sr. member

Activity: 401

Merit: 252

No, that really was no joke or stupid PR gag. But when one door closes another opens. I will publish details regarding our solution soon.

elux

legendary

Activity: 1458

Merit: 1006

Quote from: tosaki on October 21, 2012, 06:29:30 AM

Good news. We have figured out a solution for this problem. Bitmit is not going to be sold. Business as usual =)

"Business as usual =)" Interesting PR strategy. ಠ_ಠ

Don't cry wolf, unless the theatre is on fire, as the saying goes. Mind detailing the solution?

I'll be a bit disappointed If this was a gimmick, what with services actually going up in flames every other week and all.

Also: Hooray! Wink

barbarousrelic

hero member

Activity: 675

Merit: 502

Quote from: tosaki on October 21, 2012, 06:29:30 AM

Good news. We have figured out a solution for this problem. Bitmit is not going to be sold. Business as usual =)

I am sorry for the insecurity this may have caused.

Hooray!

bitcats

legendary

Activity: 1014

Merit: 1001

How did you solve the problem?

Or did you just try to test out the market value of Bitmit?

paraipan

legendary

Activity: 924

Merit: 1004

Firstbits: 1pirata

Quote from: tosaki on October 21, 2012, 06:29:30 AM

Good news. We have figured out a solution to this problem. Bitmit is not going to be sold. Business as usual =)

I am sorry for the insecurity this may have caused.

Great news

tosaki

sr. member

Activity: 401

Merit: 252

Good news. We have figured out a solution for this problem. Bitmit is not going to be sold. Business as usual =)

I am sorry for the insecurity this may have caused.

mikegogulski

sr. member

Activity: 360

Merit: 250

Quote from: Bitcoin Oz on October 21, 2012, 03:31:57 AM

Quote from: Deafboy on October 21, 2012, 03:29:06 AM

Quote

Nefario could learn something with you ;-)

Nefario told us exactly the same. But I'm OK with Mike.
Btw auction disapeared. Is it sold already?

Nefario approached the authorities himself. Mike probably wont

Why on earth would I?

Quote from: P-J Proudhon

To be GOVERNED is to be watched, inspected, spied upon, directed, law-driven, numbered, regulated, enrolled, indoctrinated, preached at, controlled, checked, estimated, valued, censured, commanded, by creatures who have neither the right nor the wisdom nor the virtue to do so. To be GOVERNED is to be at every operation, at every transaction noted, registered, counted, taxed, stamped, measured, numbered, assessed, licensed, authorized, admonished, prevented, forbidden, reformed, corrected, punished. It is, under pretext of public utility, and in the name of the general interest, to be place[d] under contribution, drilled, fleeced, exploited, monopolized, extorted from, squeezed, hoaxed, robbed; then, at the slightest resistance, the first word of complaint, to be repressed, fined, vilified, harassed, hunted down, abused, clubbed, disarmed, bound, choked, imprisoned, judged, condemned, shot, deported, sacrificed, sold, betrayed; and to crown all, mocked, ridiculed, derided, outraged, dishonored. That is government; that is its justice; that is its morality.

Bitcoin Oz

hero member

Activity: 686

Merit: 500

Wat

Quote from: Deafboy on October 21, 2012, 03:29:06 AM

Quote

Nefario could learn something with you ;-)

Nefario told us exactly the same. But I'm OK with Mike.
Btw auction disapeared. Is it sold already?

Nefario approached the authorities himself. Mike probably wont

Deafboy

hero member

Activity: 482

Merit: 502

Quote

Nefario could learn something with you ;-)

Nefario told us exactly the same. But I'm OK with Mike.
Btw auction disapeared. Is it sold already?

Raoul Duke

legendary

Activity: 1358

Merit: 1002

Quote from: mikegogulski on October 20, 2012, 06:37:09 PM

Quote from: Arto on October 19, 2012, 08:35:43 PM

Quote from: justusranvier on October 19, 2012, 08:30:27 PM

Quote from: Daily Anarchist on October 19, 2012, 07:18:06 PM

Forget legal council. Laws change on a whim if you haven't noticed. Voluntary trade is under attack. We need to quit asking for permission to do business. We can do that on Tor.

I think Tormail is a good example to follow. They have their main servers hidden somewhere, and the public-facing website at tormail.org is a vps that's running nothing more than a Tor node and a copy of socat.

+1. This is also now basically the architecture that The Pirate Bay uses:

(...snip...)

Agreed here on all counts. I'm in the bidding myself for Bitmit. Sure, I'll run it with as much jurisdictional diversity and back-end hiding as possible, and screw the lawyers anyway. I'm *also* willing to be the public figurehead who takes the legal blame if things go sour. "Stateless ex-American Anarchist on Trial in Europe for Running Unregulated Financial Service" just sounds too cool.

Nefario could learn something with you ;-)

Daily Anarchist

hero member

Activity: 614

Merit: 500

Quote from: mikegogulski on October 20, 2012, 06:37:09 PM

Quote from: Arto on October 19, 2012, 08:35:43 PM

Quote from: justusranvier on October 19, 2012, 08:30:27 PM

Quote from: Daily Anarchist on October 19, 2012, 07:18:06 PM

Forget legal council. Laws change on a whim if you haven't noticed. Voluntary trade is under attack. We need to quit asking for permission to do business. We can do that on Tor.

I think Tormail is a good example to follow. They have their main servers hidden somewhere, and the public-facing website at tormail.org is a vps that's running nothing more than a Tor node and a copy of socat.

+1. This is also now basically the architecture that The Pirate Bay uses:

(...snip...)

Agreed here on all counts. I'm in the bidding myself for Bitmit. Sure, I'll run it with as much jurisdictional diversity and back-end hiding as possible, and screw the lawyers anyway. I'm *also* willing to be the public figurehead who takes the legal blame if things go sour. "Stateless ex-American Anarchist on Trial in Europe for Running Unregulated Financial Service" just sounds too cool.

My man!

mikegogulski

sr. member

Activity: 360

Merit: 250

Quote from: Arto on October 19, 2012, 08:35:43 PM

Quote from: justusranvier on October 19, 2012, 08:30:27 PM

Quote from: Daily Anarchist on October 19, 2012, 07:18:06 PM

Forget legal council. Laws change on a whim if you haven't noticed. Voluntary trade is under attack. We need to quit asking for permission to do business. We can do that on Tor.

I think Tormail is a good example to follow. They have their main servers hidden somewhere, and the public-facing website at tormail.org is a vps that's running nothing more than a Tor node and a copy of socat.

+1. This is also now basically the architecture that The Pirate Bay uses:

(...snip...)

Agreed here on all counts. I'm in the bidding myself for Bitmit. Sure, I'll run it with as much jurisdictional diversity and back-end hiding as possible, and screw the lawyers anyway. I'm *also* willing to be the public figurehead who takes the legal blame if things go sour. "Stateless ex-American Anarchist on Trial in Europe for Running Unregulated Financial Service" just sounds too cool.

paraipan

legendary

Activity: 924

Merit: 1004

Firstbits: 1pirata

Quote from: gusti on October 20, 2012, 03:46:38 PM

Quote from: paraipan on October 20, 2012, 01:13:20 PM

Don't mix things up, bitmit is not selling the products only providing the platform for sellers and buyers to meet and trade. Bitcoins don't have a legal status right now, so they are to be treated as local currency on any specific platform any given time. What I mean is BTC can be treated as bitmit currency for paying the products, so without them "remitting" internally there would be no exchange of goods.

You are pulling that opinions from your arse, without any backup or previous ruling in any jurisdiction.
Are you a lawyer or regulator, or did you talk with any ? Nonsense.

I'm none of that, this is only my personal opinion after talking with various people on the issue and none of them knew better, even though some of the make a living at giving legal advice. Bitcoins currently are magic cards for any legal entity, so, can you prove otherwise?

gusti

legendary

Activity: 1099

Merit: 1000

Quote from: paraipan on October 20, 2012, 01:13:20 PM

Don't mix things up, bitmit is not selling the products only providing the platform for sellers and buyers to meet and trade. Bitcoins don't have a legal status right now, so they are to be treated as local currency on any specific platform any given time. What I mean is BTC can be treated as bitmit currency for paying the products, so without them "remitting" internally there would be no exchange of goods.

You are pulling that opinions from your arse, without any backup or previous ruling in any jurisdiction.
Are you a lawyer or regulator, or did you talk with any ? Nonsense.

allthingsluxury

legendary

Activity: 1540

Merit: 1029

Honestly I believe if Bitmit got rid of it's escrow system there would be no legal problems at all. To me this seems like the only thing that could get you in trouble. There is nothing illegal about running a auction website. Just register yourself as a legal business and pay your taxes, you shouldn't have any issues at all since you are simply providing an outlet for buyers and sellers.

I hope that the escrow system is done away with in the future and whoever ends up taking over the site takes some of the positive criticism to heart that is posted here and makes the required improvements.

I see a huge amount of potential here for this site. With the amount of traffic that this website generates its value is substantial.

paraipan

legendary

Activity: 924

Merit: 1004

Firstbits: 1pirata

Quote from: gusti on October 20, 2012, 12:56:49 PM

Quote from: paraipan on October 20, 2012, 12:51:53 PM

Quote from: gusti on October 20, 2012, 11:21:37 AM

Quote from: paraipan on October 20, 2012, 09:57:08 AM

Quote from: tosaki on October 19, 2012, 03:57:57 PM

Quote from: Arto on October 19, 2012, 03:55:34 PM

Quote from: tosaki on October 19, 2012, 03:52:05 PM

Sadly this is true.. If someone is interested in buying the site feel free to contact us ([email protected])

Any details on what new regulations are motivating the closure, pretty please?

Financial supervision requires special licences for businesses which holds customer funds

Have you guys checked out gov.hk on MSO?

From the FAQ :

What is the definition of a Money Service Operator (“MSO”)?
A person who or an institution which operates a money changing service or a remittance service is a Money Service Operator.

Do this apply for a ecommerce site like Bitmit ?

Have you read the thread? They say the problems arise from them keeping their users funds for escrow purposes. For me that is equivalent to a "remittance service", send money from point A to point B securely. Off course that operation is not instant, for escrow purposes, but it doesn't mean to be a whole new concept overall.

Yes, I read the whole thread. You say that "escrow service" and "remittance service" are equivalent.
Any backup for that, or just saying ? I can also say that a car seller is a "remittance service".

Don't mix things up, bitmit is not selling the products only providing the platform for sellers and buyers to meet and trade. Bitcoins don't have a legal status right now, so they are to be treated as local currency on any specific platform any given time. What I mean is BTC can be treated as bitmit currency for paying the products, so without them "remitting" internally there would be no exchange of goods.

tosaki

sr. member

Activity: 401

Merit: 252

Currently I am pointing out some options we have. I regret that I have published this depressing closure msg. I think we will find a solution that satisfies all of us so don't worry guys!

Topic: Bitmit is Closing?? - page 3. (Read 22596 times)