Bitmit is Closing??

[allthingsluxury]

Bitmit appears to be shutting down due to upcoming law changes. This is really unfortunate, as I was really liking this service. It was a great alternate place to list my products and I actually made quite a few sales on there. Not sure exactly what happened but this is the message that I just received when I tried to login to my bitmit account:

"Bitmit closes
Dear valued Bitmit user,
Unfortunately we have to shut down Bitmit because of upcoming law regulations in our country. Our server is going to be turned off in about four weeks. Please complete your orders and withdraw all your Bitcoins within that timeframe.

We are very sorry for that We really enjoyed the collaboration with this awesome Bitcoin community! :*

Thank you so much for your support!

Your Bitmit Team



If you like you can spend us a goodbye beer :/ 1EP2w3vVAwTCK2xptWYAvBsM982sqaDz9w - Thank you! "

You can also see it for yourself here:

https://www.bitmit.net/en/

What country are they located in that this would cause an issue? Are they being strong armed?



P.S: for any of you who have bought from us on bitmit and have any questions or concerns, you can reach us here:

http://www.allthingsluxury.biz/Contact-Us-2.html

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[SaltySpitoon]

Awww, that blows

[WikileaksDude]

Why doesn't the owner sell the website to someone willing to run it. IMO there is a shitload of ppl capable of running the site.

This way its a win win.

[Maidak]

Yeah that really does suck I checked the contact us page. https://www.bitmit.net/en/info/contact

Flat B20/F, Infotech Center No.21 Hung To Road Kwun Tong, Kowloon Hong Kong

[Arto]

Why doesn't the owner sell the website to someone willing to run it. IMO there is a shitload of ppl capable of running the site.

This way its a win win.

http://www.reddit.com/r/Bitcoin/comments/11ep6x/bitmit_4_sale_investors/

[allthingsluxury]

I know this is horrible. I would also really like to see them sell it off. Of course I know there might still be some lingering legal issues if they do this. Someone needs to start up an alternative site. I was seeing HUGE potential there.

[WikileaksDude]

I know this is horrible. I would also really like to see them sell it off. Of course I know there might still be some lingering legal issues if they do this. Someone needs to start up an alternative site. I was seeing HUGE potential there.

HUGE?

It was going to be amazon on steroids. A flawless auction/sales bussiness.

[justusranvier]

Someone needs to start up an alternative site.

I think it's called Silk Road.

[nomnomnom]

God damnit. Not bitmit 
I hope someone buys it and takes over or something,

[tosaki]

Sadly this is true.. If someone is interested in buying the site feel free to contact us (support@bitmit.net)

[Arto]

Sadly this is true.. If someone is interested in buying the site feel free to contact us (support@bitmit.net)

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

[tosaki]

Sadly this is true.. If someone is interested in buying the site feel free to contact us (support@bitmit.net)

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

Financial supervision requires special licences for businesses which holds customer funds

[FreeMoney]

Sadly this is true.. If someone is interested in buying the site feel free to contact us (support@bitmit.net)

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

Financial supervision requires special licences for businesses which holds customer funds

So it is only the escrow part you worry about? What about finding a few trusted escrow services and simply recommending those?

[greyhawk]

Sadly this is true.. If someone is interested in buying the site feel free to contact us (support@bitmit.net)

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

Financial supervision requires special licences for businesses which holds customer funds

So it is only the escrow part you worry about? What about finding a few trusted escrow services and simply recommending those?

What makes you think there is a single legal escrow service in Bitcoin Country?

[Raoul Duke]

Sadly this is true.. If someone is interested in buying the site feel free to contact us (support@bitmit.net)

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

Financial supervision requires special licences for businesses which holds customer funds

Why is that a problem now when it wasn't before, may I ask?

[nedbert9]

This is upsetting.

[allthingsluxury]

Sadly this is true.. If someone is interested in buying the site feel free to contact us (support@bitmit.net)

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

Financial supervision requires special licences for businesses which holds customer funds

Can't you just go back to a non escrow system, rather than shut the whole thing down. User feedback is typically a very good system for weeding out the corrupt.

[allthingsluxury]

Well bitmit is up for bid now:

https://www.bitmit.net/en/trade/i/8175-bitmit-net/description

[Arto]

Well bitmit is up for bid to buy now:

https://www.bitmit.net/en/trade/i/8175-bitmit-net/description

Very meta

[bitcoinbear]

Shoot, I was just going to list a bunch of stuff there this weekend. I guess I will wait until the situation stabilizes.