Topic: Is Bitmit.net Trustworthy? (Read 2506 times)

Probably, tell him that you will give full money via escrow only or use Paypal to pay (Send money as Goods)
If he don't send anything you can do chargeback on paypal easily.

Wise advice to any young man, in today's social climate. I think the OP should heed it.

The $500 for shipping actually is legit.

FedEx Express from Croatia to the US costs about $500 for a computer-sized package.


My guess is it plans to the just pocket the $500 up front for shipping and I'll never hear from him again.

If In doubt, pull out.


Honestly, it's raised so many red flags so far, but please don't let this put you off trading via bitmi.net, normally bitmit is fine (you just get idiots now and again).
Even though I have never had a bad transaction, I have done over 80 deals.

sounds like a scam.  id ask for any type of other proof.  why does he need $500 for shipping?  that just throws up red flags.

The auction was for the ASIC itself when it delivers.

It looks like it is likely a scam though. The seller provided me with this information regarding his order:

http://imageshack.us/f/195/avalonu.jpg/

and it doesn't seem right since his is marked as "shipped" and there is no indication that any batch 2 Avalon ASICs have been shipped yet.

He claims that he expects to receive it in the next few days but wants the shipping costs (about $500) up front. The rest will be paid through escrow.

I've never had any probs in about 50 transactions there but I would be very careful for that amount of money. I've sold there and escrow is escrow and not the seller's wallet. What have you bought? the ASIC or the seller's rights to the ASIC? This determines who bears the loss should Avalon fails to deliver.

When you open the order page there is a not very visible "Order options" link between the status box and the order info part. I've never had to use the dispute function, so I don't know about that.

I just won an auction for a Avalon Batch #2 ASIC Miner on bitmit.net for roughly 150 bitcoins.

That's A LOT of money (over $17,000) and so I'm wary about sending that many coins off into the internet possible never to be seen again.

I know plenty of people have used bitmit before but the site seems so... overly simple, maybe? Like there is no way, as far as I can tell, to see what you currently have been bidding on when you use it. You have to search and hope you find the item again.

The auction I won said "escrow: yes" in the description so I am assuming it is using escrow. So, I went to the "My Orders" tab, clicked on the item I ordered and after filling in my address and contact info, I'm taken to the order page where there is a big yellow box with the address I'm supposed to send the coins too. It just seems a little sketchy, especially since this seller is not in the US (he is in Croatia). How do I know that it is actually a bitmit escrow address and not the sellers wallet? Bitmit doesn't seem to have any links for disputing the escrow if it doesn't work out. Their FAQ is very sparse too, there are no details how long I have to wait until I can dispute the escrow if Avalon never ships. Is it safe to trust bitmit escrow?

In the meantime I've asked the seller to provide proof that he actually has an Avalon Batch #2 ASIC Miner on pre-order.

Would you do it if you were me? Thanks.