Topic: Titan Mint Coins- Serious Issue- ***NEW UPDATES*** - page 26. (Read 12712 times)

Someone with a 2014 Titan Tenth could file a lawsuit in small claim court (usually dealing with issues under $10,000). This would legally require Tim to figure his crap out and if he can resolve one then the assumption would be it would trickle over to benefiting all. Hopefully this is more a case of incompetence than fraud and the BTC still is safe on all coins.

omg that guy still owes me a bitcoin. They jacked my reputation for complaining about being scammed by him, too. Maybe I really should file a police report, that's grand theft, these days...

Great write and investigation TY!  We need more guys like you here! I do hope the rest of the community wakes up and does something about this.

 I thankGod I never bought any of these issue coins loaded!

When researching these kinds of things it takes hours and hours..so I say that a bit embarrassed that I missed this thread and others...  

It seems that Titan has had issues with their 2FA coins for many years.  This stems all the way back to 2015 (keep in mind he kept selling coins at least through 2017).

There's a multitude of threads out there..
https://benvanbitcoin.wordpress.com/2014/04/17/scam-titan-bitcoin/
https://bitcointalksearch.org/topic/problem-with-titan-one-coin-redemption-5093544
https://bitcointalksearch.org/topic/titanbtc-website-is-down-5256904
https://bitcointalksearch.org/topic/does-anyone-recognize-this-address-titan-bitcoin-5213663
https://bitcointalksearch.org/topic/auction-2013-titan-1-btc-silver-unfunded-5415095

This thread here exposes a lot of what's going on. This guy called out Tim and unfortunately got a lot of shit from the community for it. He's was labeled a scammer etc etc.   (shit happens, I'm not upset with them as things weren't really clear back then and Tim was constantly lying, how were they to know).  The amount of lies that Tim has made over the years to cover his tracks is very apparent here.  

https://bitcointalksearch.org/topic/titan-bitcoin-1208618







So Tim/Titan has promised to always make customers whole in case of a loss of funds due to any system issues.  Also apparently the private keys are in a bank vault, so he should be able to make everyone whole. Tim hasn't logged in for months now.  I sure hope to see Tim make right on all this, but do any of you actually trust the funds on any of his coins now?


Edit: I also find it kind of odd he had employees in Russia. What was their role with Titan?? Also, he's encouraging you to file a police report..

Following as I have several 2FA coins that I'll need to redeem and didn't realize this was going to be an issue.

edit: I have all of Tim's info if there needs to be legal action taken here in the US, PM me if needed.

edit: It appears all of my Titans are the Private Key version.

Thanks so much for helping with this ridiculous Neverending issue ChiBitCTy. I have tried redeeming my 2fa coins at least 1x per week for the last 6 months using the titanbtc.com website redemption process but always ends with the message saying ALMOST FINISHED...
Please click the confirmation link in your email to complete the redemption process but no link ever gets sent to the email the coin is registered to? I've also sent at least 10 emails to every email I can find for Tim, titan, or old employees with 0 responses over the past 2 years. I am for sure ready to pursue legal action along with a few others I've been in contact with also having the same issue.

Tim, why on earth would anyone trust you or your coins now after how you’ve been handling this serious issue of locking up millions of dollars worth of bitcoin?

I’ve done everything I can to try and help those out who have Titan 2FAs, at this point it’s time to pursue legal action, period.

Were there pre fork pk .1 titans to make it completely fair?
Because I'd much rather prefer that option than to peel when the redemption issue is resolved

To be fair, despite what has transpired here, about three years ago I won’t a titan 2fa coin in auction and Tim exchanged it for a PK coin.   At the time he seemed sincere and diligent.

Once again another month and  no update as promised. If you live in the US and have 2FAs please message me privately.

Tim,  Can we get an update please on the status of the titan website.  I would like to get my two (2) 2fa 2013 Titans funded and redeemed sooner than later. I am assuming that you would be willing to process manual redemptions for customers such as me who are eager to redeem their coins, and have all of the necessary documentation to prove ownership.

I'm sorry I haven't been updating here.  We did make progress and then had some technical setbacks. The email system was working for a week or so and then died again.   There's very few developers who I trust to resolve these issues and unfortunately, we're having to wait on those developers who are fighting some other fires before continuing the work to fix these issues.  Catching Covid-19, and recovering from it, has also sidelined both myself and the devs for a time.

While we won't quit until the website is acceptably fixed, the timeline has obviously gone WELL past acceptability and my focus right now is on redeeming all 2FA coins.

If you've emailed previously and I didn't reply in a timely manner, please email again.  We missed quite a few emails and may have lost some before they were read.

Direct messages here on the forum are also still getting through.

We're asking owners to peel the hologram enough that it is clearly peeled (the word "void", or a hexagonal pattern, becomes visible) and then photograph the hologram side of the coin.  In the photograph, beside the coin we also need to see the current date handwritten on a piece of paper as a proof of when the photo was taken.  This photo is evidence of current ownership of the physical coin, and will be the primary consideration in any disputes of ownership.  If there's any evidence of photo manipulation (cropping, blurring, tag editing, etc) or if the details aren't legible, we'll ask for another photo.

We were able to extract the registration emails from website database and once current ownership is confirmed we'll message the email address associated with the coin as a second confirmation before transferring any BTC.  There will be edge cases and we'll do our best to deal with those gracefully.

I will update here next week once the developers are back online.

Titan Tim .... An update here would be very much appreciated. Without regular updates, its far easier to assume the worse. Even if the update is, "there is no update", keeping the communication going helps no end

For what it's worth I tried the 2fa redemption last week and instead of ending on a blank white screen it popped up this message https://imgur.com/a/N3p9mRx
However the email never received the link to finish the process. I'll keep trying every week and will update if anything changes.
I also know of 3 more non 2fa titan 1 btc coins from 2013 and 2016 that were redeemed flawlessly a couple days ago including forks
I will redeem every titan 2fa coin I have as soon as It's possible but plan to keep my non 2fas for long term as they are the most beautiful part of my collection

I’m not sure he’s a scammer either. Titan reminds me of microsoul atm. I still want to give Tim some benefit of the doubt, but he’s making it very hard.  You have to ask why did he set up some 2FAs at all, especially utilizing  such a poor way of doing so (unlike mike Caldwell 2FAs coins).  On top of that his website TOS state he claims no promise of site maintenance.  Why on earth would any legitimate business create those disclaimers when his 2FAs 100% count on the site being maintained. That’s an EXTREMELY shady move to make. Take a look at the list of coin makers who have refused to provide mintage #s or addresses..not many left who haven’t either exit scammed or shown massive red flags.  

Tim has treated this with seemingly very little seriousness imo, zero apologies for ignoring customers for well over a year, ignores questions left and right, etc. Again we know several million dollars  are at stake here and possibly far more.  We’ve already seen several non forum members recently show up as they’ve been trying to contact him fior a long time. In all likelihood there’s probably quite a few people who have either already written their coins off as a loss or will never find this thread.

Some users have claimed their regular PK coins were empty. Can’t fully confirm this, but it’s another thing to worry about.

Here’s a very puzzling quote ..



How would an attack on the website possibly lead to coin loss ?!  If hackers can’t access the private key on the physical coin, this would be impossible. Why would he even make such a statement, other than to create a sense of false security to those who don’t know any better.

So, after stating you aren’t worried about these coins, but you realize in general these are bad ideas ..then see all of these red flags ..you still are willing to blindly trust them ?  For me, any red flag and that’s it. It’s far to risky and absolutely not worth it. You can still keep the coin and hobo. In fact peeled coins have been selling well, maybe your lose 1-200 of premium, is that really worth it?

Besides the 2FA debacle (which I don't understand why anyone would ever choose that option), is there really any reason to be so scared about Titan? Their coins have been around for quite a while now and not a single person (except 2FA folk) have had any issue or at least none to my knowledge.

I don't think the guy is a scammer, he put out a very nice, top quality product, but it seems the 2FA thing may have been a huge fuck up and perhaps he does not know how to resolve it. Not saying he shouldn't have any accountability, but the 2FA option already sounded a bit sketchy from the beginning. My exact thoughts when I heard that was "what if the company ceases to exist in the future?". Anyway, I love my Titans, they are beautiful and I don't feel scared or uncertain that my BTC is safe in regards to Titan potentially pulling some heist. My biggest worry with any loaded coin is a typo or peel gone wrong where the private key is damaged, or perhaps like humidity/heat/elements or just time damaging the hologram somehow. These coins were already a very risky and become an even bigger risk as BTC price increases, but these are just novelty/collectibles for enthusiasts and honestly very much go against the whole point of bitcoin, so its a bit ridiculous to be surprised to have touched the hot stove and be surprised to have been burned.

As for the guy on Ebay. I also did some deals with him, he at one point held several BTC of mine and even did a couple buys for me when I exchanged silver with him. He seems very honest and trustworthy in my opinion.

It’s now been a month since we heard from you Tim. I’ve spoken to several coders who confirmed this fix should absolutely not take this long.  If you had been at least providing updates that’s one thing. Not only has that not been the case, you’ve repeatedly ignored many important/valid questions from multiple members. You are solely responsible for locking up millions of dollars ..that’s not worth your time to be a decent person/business owner and provide answers/updates? 

Imo those of you who own Titan 2FAs should call your attorney on Monday. At minimum maybe then Tim will give this disaster the attention it deserves. 

So, in that case you still only have to trust Titan as the reseller never had the private key, right? They simply funded the coin. Unless there is concern they may have removed the key Titan provided and replaced with one of their own.

My opinion is that I would no longer trust any Titan coin.

Titan shipped the coins to dealers/distributors/bulk purchasers unfunded.  

Ebay seller cflow101/thecryptostore was my entrance to this whole space and a very helpful trusted person. And to answer your question mopar yes titan did sell unfunded coins, there was a person over seas that had about 26 1.0 unfunded titan coins that I was going to purchase at the time if it wasnt for his deal being that I had to send the btc for him to fund them for me. To this day there has been zero issue (besides user error) with the private key titans.(I have researched extensively) And hopefully the 2fa issue is resolved soon as the titan team claims to be working on the site currently.