Topic: Mybitcoin is a scam! - page 4. (Read 24661 times)

I would very much like to see Tom on that show.

That's a great call Bruce, I hope to see Tom on your show soon.

For the record, I do not believe that MyBitcoin.com is a scam.   I think that they -- like most bitcoin startups -- have challenges with responding to customer inquiries, and with communication in general.


AN OPEN LETTER TO TOM WILLIAMS

I would very much like to interview you on The Bitcoin Show.... (or at least a representative of MyBitcoin).   I think that putting a face and a voice behind MyBitcoin would go a very long way toward showing the community that you are real people... with the best intentions.

I told the guys at MtGox the same thing... when the hack happened... and I believe I was right.   Appearing on camera has probably been the single most important show of good faith that MtGox has done.

I hope you will consider appearing as a guest on The Bitcoin Show soon.    You know how to contact me.

Thanks.

Bruce Wagner
[email protected]
+1 646-580-0022

Need I say more, oh noob user.

What evidence would you require, oh vague user?

No issues with mybitcoin, not sure how there is allways some vague user making claims like OP yet actually provide no evidence of said claim.

Um, do you perhaps mean "libel"?

I know the US has degenerated a lot, but last time I checked, you were still allowed to have opinions.

That's what I thought at first, but I ended up using mybitcoin.com afterall.  They do provide a very useful service: instant irreversible transactions between accounts.

If I meet someone at a coffeeshop for a cash transaction, and the bitcoin have been placed in a mybitcoin account ahead of time, then the whole exchange takes only a few seconds.  The received bitcoin can be automatically forwarded to your home address for the hour-long transfer -- long after you've left the coffeeshop.  Both sides have only a small amount on mybitcoin, and only for a short time (a few hours).  And you get a timestamped email to remember the exact details.

That said, if the person you're dealing with doesn't look very shady, it's quite safe to only wait for the first confirmation.  Ten minutes or so isn't that big of a deal.

With mybitcoin.com, you should understand that you're not dealing with an established company with 1000 employees.  You're dealing with a guy.  Or at most a small group of guys.  Customer service probably isn't going to be a strength for quite some time (if ever).

My impression is that he knows a lot about computer security.  Clearly he is not a rank amateur -- read this statement on the Mt.Gox fiasco:
  https://www.mybitcoin.com/downloads/incident-report-2011-06-22.txt

He also knows something about protecting anonymity.  He's probably an American or Canadian who has set up shop offshore in order to protect himself against the coming government backlash.  I can respect that.

These are still early days for the bitcoin movement.  Perhaps mybitcoin.com will end up only serving those who really need anonymity, and other services will emerge to provide instant transactions with a friendlier (and probably less secure) interface.  Let's not jump to conclusions, either way.

Tom Williams:  Understand that your company's reputation is more important than the technical details you're busily working on right now.  Don't sacrifice one for the other.  Respond to this issue immediately, and resolve it to lettucebee's satisfaction.

I'm glad this was brought up as a defense to the claim that people are spending real money on fake internet money.

Real money doesn't matter because you can't eat it.

Never a issue when I have used mybitcoin for quick transactions. I never forget passwords though 

For the record, Bruce Wagner has always responded quickly and thoughtfully to my pleas. Thank you, Bruce. You seem like a swell fellow!

As i tried to say, i am happy with mybitcoin. But perhaps a paid for e-wallet with support would be nice for nervous people.

So you want flexcoin to charge fees to label it legit?   We're still only 90% formulated on the business model,  so if that is what people want?

We're in Pennsylvania... not Mexico.....  you're saying we're a scam because we're paying the account holders interest from what we sell in Ads and Mining?   Last I heard that's not how a Ponzi scheme is run....  unless you have a creative definition of it..  We'd love to hear how someone that isn't educated enough on the  topic discuss it... we need good laughs....  the chances are you don't even have an invite (very few people do) for Flexcoin... so you are not educated enough on Flexcoin to make any assumptions.

Your statement at best is sophomoric...  and at worse it's just liable.   

I´m using mybitcoin since some months with different accounts and never had a problem with them (beside centralization which makes Bitcoins useless and some downtimes but i dont really care about them), so i dont think its a scam, the problem is more that its for free and they dont have the money to hire support monkeys.
 

His point is.. you can't eat paper money to survive. If paper money loses its value and you can't buy food, people will work for food.

Yea I got referred to mybitcoin by a reputable bitcoin website (dont recall which one) which suggested I could have confidence in them but in view of the recent shenanigans people have experienced with them I've cut my ties. Unfortunately they have lost my trust and I wont be using their service again.

Well, obviously.  That's why when you work you're paid in hamburgers.  When I go to make a mortgage payment, I put forty quarts of milk in an envelope.  And I always make sure to bring a wheelbarrow full of corn into BestBuy, to make sure I can transact efficiently.

I know you have to be obtuse to buy into this whole charade, but come on.

Lettucebee, I sympathize with your situation.  You may have found one of the threads I started when you did your forum history search for MyBitcoin-related threads.  I've had various problems with them over the last 8 months.  I don't really believe the owner/operator of the site is trying to scam people though.  He's probably just overwhelmed with the level of work required to maintain a free site.  I've suggested that there is a market opportunity for a fee-for-service version of MyBitcoin.  Maybe make it free to hold personal wallets but charge businesses for the API.  At any rate, I hope you recover your coins.

Bruce, where is this tutorial? Thanks!