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Topic: I don't trust mybitcoin or the UABB, but how come so many trust it? - page 2. (Read 13358 times)

copper member
Activity: 62
Merit: 0
I've been working on a sort of MyBitcoin competition - bit-bank.org. It's quite similar to MyBitcoin, however I certainly hope it doesn't attain the reputation MyBitcoin has. Smiley

Quite a simple interface - you're able to deposit / withdraw bitcoins, send them (instantly) to other Bit-Bank accounts, etc. Registered users are also given a custom URL - such as bit-bank.org/user/seeARMS for my own - which simply displays your BitCoin address.

If anyone has any opinions / feature requests, I'm all ears. I aim to be as open as possible to avoid the inevitable trust issue.

A shopping cart interface with ready-made modules for the main opensource e-commerce platforms, like prestashop for instance. You would kill mybitcoin in 1 week if you did that Wink
Will do - I'll begin working on an API tonight and hopefully get it finished relatively soon!
sr. member
Activity: 462
Merit: 250
I see the niche that mybitcoin covers as separate from a full-on shopping cart.  Mybitcoin is a very good personal tool for receiving and sending bitcoin.  It wouldn't be so if it had all the functionality of a shopping cart.  An essential element for mybitcoin, though, is a handheld interface.  Does it have this?

P.S. We are getting off the original topic, so let's take this development talk over here:
http://forum.bitcoin.org/index.php?topic=29882.0
newbie
Activity: 21
Merit: 0
I've been working on a sort of MyBitcoin competition - bit-bank.org. It's quite similar to MyBitcoin, however I certainly hope it doesn't attain the reputation MyBitcoin has. Smiley

Quite a simple interface - you're able to deposit / withdraw bitcoins, send them (instantly) to other Bit-Bank accounts, etc. Registered users are also given a custom URL - such as bit-bank.org/user/seeARMS for my own - which simply displays your BitCoin address.

If anyone has any opinions / feature requests, I'm all ears. I aim to be as open as possible to avoid the inevitable trust issue.

A shopping cart interface with ready-made modules for the main opensource e-commerce platforms, like prestashop for instance. You would kill mybitcoin in 1 week if you did that Wink
And OpenCart as people using it + the MyBitcoin plugin could easily switch over.
legendary
Activity: 1358
Merit: 1002
I've been working on a sort of MyBitcoin competition - bit-bank.org. It's quite similar to MyBitcoin, however I certainly hope it doesn't attain the reputation MyBitcoin has. Smiley

Quite a simple interface - you're able to deposit / withdraw bitcoins, send them (instantly) to other Bit-Bank accounts, etc. Registered users are also given a custom URL - such as bit-bank.org/user/seeARMS for my own - which simply displays your BitCoin address.

If anyone has any opinions / feature requests, I'm all ears. I aim to be as open as possible to avoid the inevitable trust issue.

A shopping cart interface with ready-made modules for the main opensource e-commerce platforms, like prestashop for instance. You would kill mybitcoin in 1 week if you did that Wink
copper member
Activity: 62
Merit: 0
I've been working on a sort of MyBitcoin competition - bit-bank.org. It's quite similar to MyBitcoin, however I certainly hope it doesn't attain the reputation MyBitcoin has. Smiley

Quite a simple interface - you're able to deposit / withdraw bitcoins, send them (instantly) to other Bit-Bank accounts, etc. Registered users are also given a custom URL - such as bit-bank.org/user/seeARMS for my own - which simply displays your BitCoin address.

If anyone has any opinions / feature requests, I'm all ears. I aim to be as open as possible to avoid the inevitable trust issue.
legendary
Activity: 1358
Merit: 1002
When you're ready to put your money where your mouth is, I'm not only on board (learning about bitcoind next week), I'll code it. What say you, sir?

Now, that's talking Wink
sr. member
Activity: 462
Merit: 250
EDIT: Just found this in the Newbies board
Hi, I actually wanted to reply to this thread : http://forum.bitcoin.org/index.php?topic=26224.60 to say that I have also had a coin disappear at Mybitcoin, but as I don't post on the forum much, I'm limited to the newbie section (if someone could move or quote this over there that would be good). I pulled all my coins out of mybitcoin when I noticed the missing coin, but I still have access to my account, and I correctly received mining payouts both before and after the missing coin (I didn't catch it immediately). The coin shows up in the block explorer here: http://blockexplorer.com/address/1HgDuxLfG3E4kkN5VkToxeFPDN2aWBTjPz . It's easy to spot as it's the 1.01 coin one as opposed to an even 1.00. So, I know that the pool payed out on time to the correct address, but my mybitcoin account balance did not increase. I can't really prove it to the general public, but there is no record of the coin ever arriving at mybitcoin, so it's not a case of my account being compromised by a third party. That should be easily verifiable by someone at mybitcoin. I've sent two support tickets using the messaging system in Mybitcoin with the latter containing all of the information above. It should be an open and shut case, but I have not gotten any response, and it's been almost 2 weeks since the coin should have arrived and about a week since I messaged support.

Has anyone else had problems with coins disappearing at Mybitcoin or any luck actually getting support?

Now, this is how non-trolls complaint: THEY GIVE DETAILS. Learn from it lettucebee. And before you ask, yes, i did read your thread...

I asked Alrecenk how his detailed request has fared. His response:

The only way the coins will be recovered is if someone associated with Mybitcoin recovers them. The post more serves to gather information, warn other people, and maybe help motivate someone to make something better. In that regard I think being specific and polite helps quite a bit, but no, it's probably not going to help get your coins back. I have neither the time nor the will to try to start up a competitor, but I am a computer scientist. My specialties fall more into the realms of physics and AI, but I might be able to help out some with the technical aspects.

Let me repeat the key phrase: "The only way the coins will be recovered is if someone associated with Mybitcoin recovers them."  There's your problem right there!  Mybitcoin has not only ripped off individuals, but it is damaging the reputation of businesses that are using it as a wallet.  Now I understand why certain developers are so defensive.  What other businesses are using Mybitcoin?  I'm making a list.
member
Activity: 96
Merit: 10
NOW
Avoid them at all costs. They do not respond through the support messaging system and therefore will not be held accountable for any server glitches or mistakes. Server glitches have happened in the past, and undoubtedly will happen in the future, so you're better off getting comfortable with the Satoshi client.
sr. member
Activity: 462
Merit: 250
I am thinking about other online wallet alternatives. Any of ya recommend one?

I have heard Instawallet.com mentioned several times. I don't vouch for them nor do I understand their business model, but I share this with you at your own risk.
legendary
Activity: 980
Merit: 1020
I am thinking about other online wallet alternatives. Any of ya recommend one?
sr. member
Activity: 462
Merit: 250
And I now report that mybitcoin still hasn't answered my requests via email or their messaging system.
sr. member
Activity: 462
Merit: 250
hero member
Activity: 630
Merit: 500
Posts: 69
However, it might make sense for the sake of convenience to take some counterparty risks and use services such as mybitcoin and others when amount at risk is fairly small.
Agreed.  I just think before this thread, for myself, the line of what was risky with MyBitcoin was a little blurry. It is very clear for me presently.
hero member
Activity: 812
Merit: 1001
-
I think that it is unwise to trust any not extremely credible and trustworthy entity with your bitcoin life savings.

However, it might make sense for the sake of convenience to take some counterparty risks and use services such as mybitcoin and others when amount at risk is fairly small.
legendary
Activity: 1358
Merit: 1002
I lost a LOT more than .5 bitcoins.  As far as I'm concerned, anyone using mybitcoin.com deserves to get ripped off after all of this bad publicity.  The site is a scam.

All you say is that you "lost a lot more than .5bitcoins", but you never give details. That doesn't help your credibility, especially after I don't know how many people asked you to say HOW MUCH you lost.

For now you are just ONE MORE troll, like so many around here that scream scam at the first sign of trouble...

EDIT: Just found this in the Newbies board
Hi, I actually wanted to reply to this thread : http://forum.bitcoin.org/index.php?topic=26224.60 to say that I have also had a coin disappear at Mybitcoin, but as I don't post on the forum much, I'm limited to the newbie section (if someone could move or quote this over there that would be good). I pulled all my coins out of mybitcoin when I noticed the missing coin, but I still have access to my account, and I correctly received mining payouts both before and after the missing coin (I didn't catch it immediately). The coin shows up in the block explorer here: http://blockexplorer.com/address/1HgDuxLfG3E4kkN5VkToxeFPDN2aWBTjPz . It's easy to spot as it's the 1.01 coin one as opposed to an even 1.00. So, I know that the pool payed out on time to the correct address, but my mybitcoin account balance did not increase. I can't really prove it to the general public, but there is no record of the coin ever arriving at mybitcoin, so it's not a case of my account being compromised by a third party. That should be easily verifiable by someone at mybitcoin. I've sent two support tickets using the messaging system in Mybitcoin with the latter containing all of the information above. It should be an open and shut case, but I have not gotten any response, and it's been almost 2 weeks since the coin should have arrived and about a week since I messaged support.

Has anyone else had problems with coins disappearing at Mybitcoin or any luck actually getting support?

Now, this is how non-trolls complaint: THEY GIVE DETAILS. Learn from it lettucebee. And before you ask, yes, i did read your thread...
hero member
Activity: 630
Merit: 500
Posts: 69
Sometimes its easier to trust a 3rd party (that has a working history) than worry about it yourself.
I think that is all we are looking for out of this thread, a 3rd party to actually trust.
newbie
Activity: 6
Merit: 0
I find it pretty appealing that I don't have to secure my own wallet, as this is a non-trivial manner (and I'm not even a complete security noob).  Sometimes its easier to trust a 3rd party (that has a working history) than worry about it yourself.  Also I think its kind of ridiculous to expect them respond to emails claiming "forgot my password", if they haven't registered an email with the site.  The option of having no reset option is also nice as it removes a huge potential for unauthorized account access.
sr. member
Activity: 350
Merit: 251
It seems more like an issue of bugs than them purposely trying to steal your money. Someone should make an opensource online wallet?

Either way i don't trust them with the amount of reports I see. And i dont trust any other wallet site either because of fear of "fractional reserve walleting"
legendary
Activity: 1400
Merit: 1005
Question:  How much of a fee per transaction would people be willing to pay for a mybitcoin-like service that didn't steal people's money?
hero member
Activity: 630
Merit: 500
Posts: 69
I now wish some of the older members would find alternatives.  Maybe one of the other start ups needs the help of an already established merchant to get their name out there.  This is disappointing, I always thought MyBitcoin was the big game in town.  And I believe it is.  Please someone attempt to represent or defend them Sad
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