Bitcoin Forum

Economy => Scam Accusations => Topic started by: lettucebee on July 05, 2011, 03:34:51 PM



Title: Mybitcoin is a scam!
Post by: lettucebee on July 05, 2011, 03:34:51 PM
Alright, I'll make it official. Mybitcoin is not a company to do business with. Avoid them at all costs.

Over a week ago my login credentials didn't work. Only at that time did I realize that mybitcoin has no way to recover passwords.  I found previous threads where people had trouble with mybitcoin (duh) and tried the email under whois (abuse@mybitcoin.com) which didn't work. I created a second account to send a message about my first account, but now, days later, still no response.

Please also avoid their banner ad company, Link2voip, also. Nothing against them, but maybe if Link2voip feels a little shun they will pressure mybitcoin to come clean.

Mybitcoin's behavior is a little confusing because they apparently were, at one time, a good service.  They have put a considerable effort into their site, they seem to have ambitions to expand as a bitcoin business, and their proprietor, Mr Williams, came forth and acted all CEOish during the recent Mt Gox debacle.

Unfortunately, new users are often being steered into their clutches. Bitcoinme.com pretty much tells new users to put their coins into Mybitcoin:
http://bitcoinme.com/files/8213/0763/0940/Buy_Full_Image_31_TradeHill.png

Check out a better image at:

http://bitcoinme.com/index.php/buy/

I have asked Bruce Wagner of bitcoinme.com to stop promoting them and he said he would, but we'll see. I am on a campaign to get the truth out about mybitcoin.  If they come clean I will be the first to announce it.  If you have any helpful information or have a similar story to tell I hope you will include it here.

Thanks for your attention.


Title: Re: Mybitcoin is a scam!
Post by: dinzy on July 05, 2011, 03:55:33 PM
I lost 0.5 BTC to them during an autopay when they went down on the 3rd.  I emailed and received no response so far.  FFS it's only 0.5 BTC, but it's my 1/2 coin not theirs. 

I will be patient, but I will not send any more coins to them until this is cleared up and may just send directly to Gox in the future.


Title: Re: Mybitcoin is a scam!
Post by: lettucebee on July 05, 2011, 04:37:33 PM
My loss is a bit more substantial.  Let me know if you hear anything.


Title: Re: Mybitcoin is a scam!
Post by: jimrandomh on July 05, 2011, 04:49:12 PM
Entrusting your money to a web site registered to a PO Box in the West Indies with numerous complaints of theft is a bad idea. It really looks like their business model is to steal accounts, just not all of them at once (since that would make it too obvious that they were a scam all along).

Using an "online wallet service" is a terrible idea. You're entrusting your money to an anonymous scammer.


Title: Re: Mybitcoin is a scam!
Post by: Jalum on July 05, 2011, 05:16:17 PM

Let us dispense financial advice on a forum for people who paid real money for fake internet money.  You need to take better care to protect your fake internet money.  Oh that real money you've lost?  Yeah, we're not going to talk about that...


Title: Re: Mybitcoin is a scam!
Post by: lettucebee on July 05, 2011, 05:20:22 PM
I recognize the sarcastic tone, but I couldn't understand your point.  Surely you are not saying a federal reserve note is real money, are you?  Ultimately, the only real money is something I can eat.


Title: Re: Mybitcoin is a scam!
Post by: bcearl on July 05, 2011, 05:34:29 PM
I recognize the sarcastic tone, but I couldn't understand your point.  Surely you are not saying a federal reserve note is real money, are you?  Ultimately, the only real money is something I can eat.

A number at mybitcoin is not a real Bitcoin. The most important thing about a real Bitcoin is that nobody but you knows the private keys.


Title: Re: Mybitcoin is a scam!
Post by: kokjo on July 05, 2011, 05:36:29 PM
I recognize the sarcastic tone, but I couldn't understand your point.  Surely you are not saying a federal reserve note is real money, are you?  Ultimately, the only real money is something I can eat.

A number at mybitcoin is not a real Bitcoin. The most important thing about a real Bitcoin is that nobody but you knows the private keys.
+1


Title: Re: Mybitcoin is a scam!
Post by: Bruce Wagner on July 05, 2011, 05:51:46 PM

We're in the process of revising the BitcoinMe.com page where we recommend how to Buy, Use, and Store your Bitcoins.

The new graphic being designed right now (as we speak) will look like this:

(1)   All the forms of money

(2)   Convert it into cash

(3a)   Option 1 is to use a Local Exchanger - like btcnearme.com etc., etc.

(3b)   Option 2 is to use an Automated Online Exchanger - like tradehill.com, mtgox.com, etc., etc.

(4)   Your Bitcoin "Checking Account" - generally smaller amounts - like less than one months income - for day-to-day transactions:  Run the Bitcoin app on your PC with your wallet stored in an encrypted volume, making certain you have no viruses.  Note that running the Bitcoin app all the time is also recommended because it helps strengthen the Bitcoin Network for everyone.   (see linked video tutorial)

(5)   Your Bitcoin "Savings Account" - for larger amounts - like long-term savings:  Follow the video tutorial to create a totally secure encrypted off-line and backed-up wallet for an easy-to-use bitcoin address for making frequent "deposits" and infrequent "withdrawals".    (see linked video tutorial)


Title: Re: Mybitcoin is a scam!
Post by: qikaifu on July 05, 2011, 05:55:53 PM
Well, another disaster and bad publicity for bitcoin.
That's why I always disagree the Anonymity in the import business of bitcoin like bank and exchanges. I always ask the service provider to declare who they are and where they run their business.

Dude, it's business, if you really think bitcoin is a currency. Be a real merchants who with an open attitude to the publicity and take responsibilities. Please don't hide behind the Tor net and start a weird business like mybitcoin.

We will see some other liars who will claim who they are and located in somewhere of USA, and lots of people will get robbed by those liars again.

Some trustworthy centralization is unavoidable. I just hope the competition and post on this forum will drive those liars out as soon as they show the first sign of cheating.

Again, Flexcoin.com is Ponzi game. You'd better not join the game unless you're sure that you're the earlist one or the owner of the flexcoin is your fucking boy and will share with his profit with you after he runs to Mexico from U.S. where he claimed be. Or he is in Mexico now, who knows?


Title: Re: Mybitcoin is a scam!
Post by: Trader Steve on July 05, 2011, 06:11:14 PM
Quote
(5)   Your Bitcoin "Savings Account" - for larger amounts - like long-term savings:  Follow the video tutorial to create a totally secure encrypted off-line and backed-up wallet for an easy-to-use bitcoin address for making frequent "deposits" and infrequent "withdrawals".    (see linked video tutorial)


Bruce, where is this tutorial? Thanks!


Title: Re: Mybitcoin is a scam!
Post by: Cryptoman on July 05, 2011, 06:20:31 PM
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.


Title: Re: Mybitcoin is a scam!
Post by: Jalum on July 05, 2011, 07:16:49 PM
I recognize the sarcastic tone, but I couldn't understand your point.  Surely you are not saying a federal reserve note is real money, are you?  Ultimately, the only real money is something I can eat.

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.



Title: Re: Mybitcoin is a scam!
Post by: Oldminer on July 05, 2011, 07:20:12 PM
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.


Title: Re: Mybitcoin is a scam!
Post by: GeniuSxBoY on July 05, 2011, 07:20:15 PM
I recognize the sarcastic tone, but I couldn't understand your point.  Surely you are not saying a federal reserve note is real money, are you?  Ultimately, the only real money is something I can eat.

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.




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.


Title: Re: Mybitcoin is a scam!
Post by: rabit on July 05, 2011, 07:26:12 PM
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.
 


Title: Re: Mybitcoin is a scam!
Post by: the founder on July 05, 2011, 07:30:38 PM
Again, Flexcoin.com is Ponzi game. You'd better not join the game unless you're sure that you're the earlist one or the owner of the flexcoin is your fucking boy and will share with his profit with you after he runs to Mexico from U.S. where he claimed be. Or he is in Mexico now, who knows?

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.   


Title: Re: Mybitcoin is a scam!
Post by: the founder on July 05, 2011, 07:40:27 PM
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.
 


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?



Title: Re: Mybitcoin is a scam!
Post by: rabit on July 05, 2011, 07:43:04 PM
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.
 


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



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.


Title: Re: Mybitcoin is a scam!
Post by: lettucebee on July 05, 2011, 07:56:43 PM

We're in the process of revising the BitcoinMe.com page where we recommend how to Buy, Use, and Store your Bitcoins.

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


Title: Re: Mybitcoin is a scam!
Post by: done on July 05, 2011, 08:01:53 PM
Never a issue when I have used mybitcoin for quick transactions. I never forget passwords though  ;)


Title: Re: Mybitcoin is a scam!
Post by: Jalum on July 05, 2011, 08:03:25 PM
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.

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.


Title: Re: Mybitcoin is a scam!
Post by: vectorvictor on July 05, 2011, 08:23:01 PM
Entrusting your money to a web site registered to a PO Box in the West Indies with numerous complaints of theft is a bad idea. It really looks like their business model is to steal accounts, just not all of them at once (since that would make it too obvious that they were a scam all along).

Using an "online wallet service" is a terrible idea. You're entrusting your money to an anonymous scammer.

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 (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.



Title: Re: Mybitcoin is a scam!
Post by: vectorvictor on July 05, 2011, 08:29:22 PM

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


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.



Title: Re: Mybitcoin is a scam!
Post by: Clipse on July 05, 2011, 08:56:31 PM
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.


Title: Re: Mybitcoin is a scam!
Post by: lettucebee on July 05, 2011, 09:04:28 PM
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.

What evidence would you require, oh vague user?


Title: Re: Mybitcoin is a scam!
Post by: Clipse on July 05, 2011, 09:11:23 PM
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.

What evidence would you require, oh vague user?

Need I say more, oh noob user.


Title: Re: Mybitcoin is a scam!
Post by: Bruce Wagner on July 05, 2011, 10:56:01 PM

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
bruce@onlyonetv.com
+1 646-580-0022


Title: Re: Mybitcoin is a scam!
Post by: pjce on July 06, 2011, 12:26:04 AM
That's a great call Bruce, I hope to see Tom on your show soon.


Title: Re: Mybitcoin is a scam!
Post by: lettucebee on July 06, 2011, 12:33:16 AM
That's a great call Bruce, I hope to see Tom on your show soon.

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


Title: Re: Mybitcoin is a scam!
Post by: lettucebee on July 07, 2011, 03:35:02 AM
Anyone who wants to give feedback to mybitcoin.com, feel free to do so here. You may notice there's a trend there already.

http://www.bitcoinfeedback.com/viewuser.php?id=195


Title: Re: Mybitcoin is a scam!
Post by: Bruce Wagner on July 07, 2011, 10:30:50 AM
Reports seem to be very consistent. 

(1)   Lose your password. 
(2)   No communication. 
(3)   In effect, they've kept your money. 

Let's hope that's not really their business plan... not really their intention. 


Title: Re: Mybitcoin is a scam!
Post by: bitfreak! on July 07, 2011, 11:47:39 AM
Hmmm, well I've never had a problem with MyBitcoin. I just cashed out because you guys are making me worried, but I got my bitcoins from them fine. I will continue to use their services, but I wont store excessive amounts of BTC with them. If they implement a password recovery mechanism they will solve a lot of problems.


Title: Re: Mybitcoin is a scam!
Post by: Bruce Wagner on July 07, 2011, 12:48:27 PM
I just got an email from one of my best friends...

He lost 1000 Bitcoins on MyBitcoin.com   

He has heard no reply whatsoever to any of his emails to them.

Of course, I am the one who recommended MyBitcoin to him.

Imagine how I feel about that.


Title: Re: Mybitcoin is a scam!
Post by: bitbetter on July 07, 2011, 12:57:47 PM
I can also confirm that MyBitCoin is a scam. However, I didn't lose very substantial amounts of BTC like others I have spoken with...I agree that MyBitCoin provides a useful service, but you should NEVER leave your BitCoins in your MyBitCoin account.

This is why:

http://bitbetter.dyndns.org/MBCscam.png

This "donation" was an unauthorized transaction. They even kind of rub it in your face by adding the "Have a donation!" message. If it were a larger amount, I wouldn't actually think it was as funny.

But really--they "technically" didn't do anything wrong, because I didnt read this in their terms of service "6.1 MYBITCOIN LLC will ensure that for all Bitcoins in circulation in the MyBitcoin System there is at all times an identical quantity of unencumbered Bitcoins held in MYBITCOIN LLC's master Bitcoin wallet."

Oops.


Title: Re: Mybitcoin is a scam!
Post by: CoinMonster on July 07, 2011, 01:16:43 PM
Checked my mybitcoin.com account after reading this thread. Still blowin' and a goin' w/ full access and all. It was made last week. Just checked an older account, made months ago, and it's fine and dandy as well.  :D


Title: Re: Mybitcoin is a scam!
Post by: sirky on July 07, 2011, 01:18:51 PM
I actually lost .02 bitcoins (my first ones from the faucet) with them because I forgot my username and password.

But I don't blame them for that.


Title: Re: Mybitcoin is a scam!
Post by: bitplane on July 07, 2011, 01:22:28 PM
I reset my password during the mtgox fiasco, but lost it immediately afterwards (my own keepass fail). It's been 3 weeks and mybitcoin have not reset my password, so I left them crappy feedback here:

http://www.bitcoinfeedback.com/viewuser.php?id=195

I'll retract that (if it's possible) and replace with a neutral if/when they reset my password. There was only 1BTC in my account at the time.

Whether your experience with them was positive or negative, I urge you to rate them too.


Title: Re: Mybitcoin is a scam!
Post by: lettucebee on July 07, 2011, 02:47:24 PM

But really--they "technically" didn't do anything wrong, because I didnt read this in their terms of service "6.1 MYBITCOIN LLC will ensure that for all Bitcoins in circulation in the MyBitcoin System there is at all times an identical quantity of unencumbered Bitcoins held in MYBITCOIN LLC's master Bitcoin wallet."


Can you translate what that means for me? I'm not sure how this "donation" relates to passage 6.1.


Title: Re: Mybitcoin is a scam!
Post by: bitbetter on July 07, 2011, 03:09:23 PM

But really--they "technically" didn't do anything wrong, because I didnt read this in their terms of service "6.1 MYBITCOIN LLC will ensure that for all Bitcoins in circulation in the MyBitcoin System there is at all times an identical quantity of unencumbered Bitcoins held in MYBITCOIN LLC's master Bitcoin wallet."


Can you translate what that means for me? I'm not sure how this "donation" relates to passage 6.1.

well--I suppose it basically means however many coins are being circulated through their system they maintain an equal number of Coins in their "master wallet."

I suppose they do this so that transactions don't need to be confirmed? but...it also means that they can remove coins from your account whenever they feel it is necessary and add it to their "master wallet."


Title: Re: Mybitcoin is a scam!
Post by: flower1024 on July 11, 2011, 06:32:26 PM
+1

BUT is there any way to provide proof?

i am just curios: i liked mybitcoin (concept and all). but i am really confused right now.

perhaps we can use this thread for something useful: how to proof somebody has lost bitcoins there (and how to proof that he didn't lost anything)


Title: Re: Mybitcoin is a scam!
Post by: Jalum on July 11, 2011, 06:34:42 PM
Seriously guys. If you LOST MONEY, POST PROOF. Stop with this spraying of diarrhea on the walls. I'm not saying MyBitCoin is safe-- hell, no place is. I wouldn't trust ANY of you to hold my wallet, much less the door for me on the way out of a building. That doesn't mean that it's a SCAM. Your libelous and ridiculously abusing and ignorant banter has driven me insane, and for those of you who can't understand where my aggression is coming from-- this is the 999th thread I've read where people blindly believe what the poster is posting and go along with it like some rerun of high school idiocy. I have no idea what I'm going to do when I read #1000. I'll probably just donate all my BTC to that OP cause I'm random and cool like that.

And what kind of proof would you like that a specific person lost their anonymous cryptocurrency through fraud?  Do you think at all before you post?


Title: Re: Mybitcoin is a scam!
Post by: Jalum on July 11, 2011, 07:02:54 PM

Blockexplorer would be nice. Userid of their account as a show of good faith so that others know how to bring the topic up if they get the chance to ask directly?

You want a link to a transfer of bitcoins to the mybitcoin wallet, and then proof of them not returning?

Quote
P.S. You're one of the only posters I actually agreed with in this garbage thread.

You seem to be white knighting pretty passionately here for a company you aren't in any way associated with, right?


Title: Re: Mybitcoin is a scam!
Post by: flower1024 on July 11, 2011, 07:25:21 PM
i think it could be possible to proof the following through blockexplorer:

 - transfer btc to mybitcoin
 - ip adress of sender
 - mybitcoin did keep the btc
 - or ip adress of recipient

(but: i think mybitcoin has to help us here by providing the adresses and the guarantee its not moving btc internal).

i dont see any way how to proof that somebody cannot access the money (and if he provides proof mybitcoin would give them to him anyway [IF they are phishy and trying to continue])

with ip adresses and datetime it would - at least for a lawyer - be possible to determine if it was the same person.

an idea: force every user to enter at least one trust bitcoin address. (shown in public). if there are any complaints for a specific account just use this address to send the money to.

(i dont like that idea very much, as the main reason for mybitcoin is not having an own client)


Title: Re: Mybitcoin is a scam!
Post by: gigabytecoin on July 11, 2011, 07:46:24 PM
Again, Flexcoin.com is Ponzi game. You'd better not join the game unless you're sure that you're the earlist one or the owner of the flexcoin is your fucking boy and will share with his profit with you after he runs to Mexico from U.S. where he claimed be. Or he is in Mexico now, who knows?

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.   


"we need good laughs..." is not the words I want to hear coming from my banker.


Title: Re: Mybitcoin is a scam!
Post by: bitbetter on July 11, 2011, 10:28:59 PM
OKay. I had at first just written a vulgar string of swears in response to this ridiculous thread, but then I realized that was probably due to the wee early morning hours getting the best of me, so here's a more thought out response.

Quote from: lettucebee
Alright, I'll make it official. Mybitcoin is not a company to do business with. Avoid them at all costs.

Thanks for making it 'official'. Who the **** are you again?

Quote from: lettucebee
Over a week ago my login credentials didn't work. Only at that time did I realize that mybitcoin has no way to recover passwords.

Strike #1 for MyBitCoin. The free, solo run, cheap ass website doesn't have a password recovery that could potentially hand accounts away to hackers. I'll bite. +1 for you.


Quote from: lettucebee
I found previous threads where people had trouble with mybitcoin (duh) and tried the email under whois (abuse@mybitcoin.com) which didn't work. I created a second account to send a message about my first account, but now, days later, still no response.

You should have quit while you were ahead.

Quote from: mybitcoin.com/contact-us.php
For support, please use the messaging system in the login area.

Basically you've proven your un-resourceful, blind as a bat, or both.

Quote from: lettucebee
Please also avoid their banner ad company, Link2voip, also. Nothing against them, but maybe if Link2voip feels a little shun they will pressure mybitcoin to come clean.

No hold on a second. You haven't even finished your story about how the big bad wolf had big sharp teeth, and you're already ready to kill his neighbors just because they're black? I say proof or GTFO.

Quote from: lettucebee
Mybitcoin's behavior is a little confusing because they apparently were, at one time, a good service.  They have put a considerable effort into their site, they seem to have ambitions to expand as a bitcoin business, and their proprietor, Mr Williams, came forth and acted all CEOish during the recent Mt Gox debacle.

A) You know nothing of anyone, do kindly stfu.
B) You just explained yourself why the accounts are being locked down, fool. (read: FREE SITE + major security upset in the Bitcoin community = go **** yourself).

Quote from: lettucebee
I have asked Bruce Wagner of bitcoinme.com to stop promoting them and he said he would, but we'll see.

So all I need to do is claim that something happened to me by any company in the world and Bruce Wagner (wtf is that?) will boycott them? Cool. Let me make up a list right now!

Quote from: dinzy
I lost 0.5 BTC to them during an autopay when they went down on the 3rd.  I emailed and received no response so far.  FFS it's only 0.5 BTC, but it's my 1/2 coin not theirs. I will be patient, but I will not send any more coins to them until this is cleared up and may just send directly to Gox in the future.

See lettucebee? This is how you complain about a company correctly. It's pretty simple, you just need to A) provide some bit of believable information, in this case being that a very small amount of was 'lost' during something that is well known to be error prone, B) attempts to be cordial and wait, C) a plea to say that instead of marching up and down the street exhausting ones bowels upon the passers by as you chant a satanic poem about Mybitcoin, it might just be good enough to keep waiting-- since you don't have a choice anyway, and of course the most important part of all that you're missing, D) ("I will be patient, but I will not send any more coins") common sense, which you're dangerously low on. Did you lose a lot? Did mommy not warn you about sending large amounts in cryptocurrency to OPENLY RECOGNIZED anonymously run organizations for unwarrantied services?

Quote from: lettucebee
My loss is a bit more substantial.  Let me know if you hear anything.

Blah blah blah, and my daddy has a corvette. Would you mind sharing with us how many bitcoins it was to maybe help us understand your insanity? There are forgivable ranges, but by the look of things, you're just raging for the hell of it.

Quote from: jimrandomh
Entrusting your money to a web site registered to a PO Box in the West Indies..

OH NO! NOT THE WEST INDIES! HOLY SHIT!

Quote from: jimrandomh
...with numerous complaints of theft is a bad idea.

And where are these complaints exactly? I see exactly 3 complaints on the crappily designed (probably by the OP for this exact purpose no doubt) bitcoinfeedback.com, and all of them are pretty much the exact same thing--- they have nothing to do with theft at all. They have something to do with some fuckhead forgetting his password or having it reset during the security breach, and then flipping out and killing people because they haven't learned any patience.

Quote from: jimrandomh
It really looks like their business model is to steal accounts

I've actually thought about this too, and it IS in fact possible, so +1.

Quote from: jimrandomh
..just not all of them at once (since that would make it too obvious that they were a scam all along).

Are you calling them a scam? Isn't it great how angry mobs work? We've gone from one douchebag claiming without proof, to another douchebag crying scam. Let's see how many simple minded fools will follow along!


Quote from: Bruce Wagner
We're in the process of revising the BitcoinMe.com page where we recommend how to Buy, Use, and Store your Bitcoins.

Wow. Did anyone ask? Sounds like the op just likes making friends who will agree with him, and someone else likes using other people's rage threads for self promotion. STOP WASTING THE INTERNET.

Quote from: qikaifu
Well, another disaster and bad publicity for bitcoin.

Oh yea, can't wait till slashdot gets a hold of how horrible customer support is over at the one man show mybitcoin.com.

Quote from: qukaifu
Be a real merchants who with an open attitude to the publicity and take responsibilities.

Wow man...that was actually..deep and insightful. except you're kind of missing one thing....Mybitcoin is not a business, asshole. It's a free website that one of the vets involved in Bitcoin, bitcoin.org, etc decided to do as a service to the rest of the community. Got a problem with it? DONT USE IT.

Quote from: qukaifu
Please don't hide behind the Tor net and start a weird business like mybitcoin

This statement (and all following statements for that matter) is more ridiculous than your lack of command of the English language for someone living in America. A) Who said it's a business? B) Why would anyone involved in a 'business' related to a currency centered around anonminity and basically standing up to all of the world's forces NOT be anonymous? So, basically you prefer Satoshi to be brought out to public view before you believe in Bitcoin too? What kind of mental acrobatics must you be doing to think you're right?

Quote from: qukaifu
We will see some other liars who..

Christ. Just like I said. Idiots begat idiots. Let's not forget that the FIRST POST IS HEARSAY.

Quote from: qukaifu
Using an "online wallet service" is a terrible idea.

It has it's uses, but yes, it's a risk everyone will have to come to terms with and there are ways to minimize those risks.

Quote from: qukaifu
You're entrusting your money to an anonymous scammer.

That's right kids! Anyone at ALL who EVER OFFERS A SERVICE ONLINE THAT ALLOWS YOU TO UPLOAD YOU WALLET IS AUTOMATICALLY A SCAMMER. CHRIST. STFU.

Quote from: qukaifu
Some trustworthy centralization is unavoidable.


You obviously have no idea how your country stays safe or in power.

Quote from: qukaifu
Again, Flexcoin.com is Ponzi game.

I didn't quote the rest, because my brain wouldn't stop hurting after reading this far into your drivel. It's 'scheme' btw you idiot.

Quote from: Cryptoman
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.

Imagine that. A veteran user had something intelligent AND nice to say about the situation that provided both insight and some kind of solution. I hope one day I can deliver one post responses and not need to deal with things in the way I'm dealing with them right now, but sometimes....CHRIST.


Quote
Well, obviously.  That's why when you work you're paid in hamburgers.

Actually, judging by their understanding of common sensical principles, I'd say they probably DO get paid in hamburgers as they work at McDonalds.

Quote from: the founder
We're in Pennsylvania... not Mexico.....

Buddy, I'm sorry about the ridiculous things that that retard is saying about you, because it all IS total bullshit-- that being said, anyone who names themselves "The founder" on a website called "bitcoin.org" is a little bit of a prick in my book.


Quote from: rabit
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.

That's putting it lightly... more like medicated.

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


Aww. why don't you two get married, then you can co-own all the threads you end up cross spamming anyway!

Quote from: clipse
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.

And there it is people. I use MyBitCoin. I've never had an issue! I've had lots of issues! What's the difference between those two statements? Perception. And issue is just that-- something to resolve. You retards seem to have begun to associate having problems with being a scammer. Pop a pill and take a seat, its going to be an extremely long ride with Bitcoin.

Quote from: Bruce Wagner

Reports seem to be very consistent.

(1)   Lose your password.
(2)   No communication.
(3)   In effect, they've kept your money.

Let's hope that's not really their business plan... not really their intention.  

Jesus H. Titty fucking Christ. Are you a failed children's story writer? #1 is user ignorance. #2 is an obvious DUH considering the users are using all the most abstract means of contact known to man (read: "I EMAILED THE DNS EMAIL", also read: "Use the message box on the website to contact me -mybitcoin owner"), and #3 is still unproved ballfunk.

Quote from: bitfreak!
Hmmm, well I've never had a problem with MyBitcoin. I just cashed out because you guys are making me worried,

And the crowd of freaks grows! Literally!

Quote from: Bruce Wagner
He lost 1000 Bitcoins on MyBitcoin.com

Bruce, I have a friend who claims you stole his purse. here is an OPEN INVITATION TO YOU. (rofl)


Seriously guys. If you LOST MONEY, POST PROOF. Stop with this spraying of diarrhea on the walls. I'm not saying MyBitCoin is safe-- hell, no place is. I wouldn't trust ANY of you to hold my wallet, much less the door for me on the way out of a building. That doesn't mean that it's a SCAM. Your libelous and ridiculously abusing and ignorant banter has driven me insane, and for those of you who can't understand where my aggression is coming from-- this is the 999th thread I've read where people blindly believe what the poster is posting and go along with it like some rerun of high school idiocy. I have no idea what I'm going to do when I read #1000. I'll probably just donate all my BTC to that OP cause I'm random and cool like that.



Apparently you cant read. It's not our fault you're stupid.

PS

Your comment was the longest of all...I'm just saying...The crazy guy is usually the one screaming for everyone to shut up when nobody is even saying anything.


Title: Re: Mybitcoin is a scam!
Post by: Jalum on July 12, 2011, 03:07:39 AM
As for the off case that mybitcoin was in fact a complete scam, the OP actually did use the means of contact mentioned by the owner for posting complaints, suggestions, etc, then I'd say 'that sucks!'. Point being none of this is so, and likewise, there is no reason to listen.

Again, you seem incredibly emotionally invested in this.  You ask for proof which cannot exist, then offhand discard anecdotal claims by people who say they were defrauded.

You position is untenable, and you're a moron.


Title: Re: Mybitcoin is a scam!
Post by: Alex Beckenham on July 12, 2011, 03:16:12 AM
Readers of this thread may also like to check out an experiment done by myself and bitbetter, where 0.01 was lost to mybitcoin.com.

Starting at this post: https://forum.bitcoin.org/index.php?topic=24548.msg327154#msg327154


Title: Re: Mybitcoin is a scam!
Post by: Alex Beckenham on July 12, 2011, 03:21:45 AM
When he shows some proof of ANY sort, I'll rethink my position, because I'd have to wouldn't I?

Did you study any kind of maths or physics in high school?

While it may be easy to prove something DID occur (a response back from mybitcoin support), it can be impossible to prove that same thing DIDN'T occur (i.e. no response back from mybitcoin support).


Title: Re: Mybitcoin is a scam!
Post by: mouse on July 12, 2011, 04:11:59 AM
A solution to this kind of problem is for wallet services to offer 'signed receipts' for all transactions, and only carry out transactions for which the customer first signed a request.

Then in the case of a dispute a customer can simply present as evidence their receipt (which has the account balance on it), with their digital signature and the wallet providers signature. Whoever has the most recent receipt 'wins' the argument (because everyones signature is on it).

https://github.com/FellowTraveler/Open-Transactions/wiki/Triple-Signed-Receipts
http://iang.org/papers/triple_entry.html
http://truledger.com/




Title: Re: Mybitcoin is a scam!
Post by: LittleGnome on July 12, 2011, 04:37:55 AM
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.

I'd buy this if it hadn't already been 4 weeks since Mt. Gox, with no new statement as to how they'll fix this.


Title: Re: Mybitcoin is a scam!
Post by: FreeMoney on July 12, 2011, 08:54:28 AM
I just got an email from one of my best friends...

He lost 1000 Bitcoins on MyBitcoin.com   

He has heard no reply whatsoever to any of his emails to them.

Of course, I am the one who recommended MyBitcoin to him.

Imagine how I feel about that.

You say he lost them, but surely it's not final. How long has he been trying to contact Tom?

Something is going on, but I don't think he's stealing random accounts or that this will never be resolved.

I was able to access my account and withdraw funds tonight.


Title: Re: Mybitcoin is a scam!
Post by: FreeMoney on July 12, 2011, 08:55:17 AM
A solution to this kind of problem is for wallet services to offer 'signed receipts' for all transactions, and only carry out transactions for which the customer first signed a request.

Then in the case of a dispute a customer can simply present as evidence their receipt (which has the account balance on it), with their digital signature and the wallet providers signature. Whoever has the most recent receipt 'wins' the argument (because everyones signature is on it).

https://github.com/FellowTraveler/Open-Transactions/wiki/Triple-Signed-Receipts
http://iang.org/papers/triple_entry.html
http://truledger.com/


Is a receipt enough? Won't you also need to show that you never withdrew the coins in order to prove you were actually stolen from?


Title: Re: Mybitcoin is a scam!
Post by: mouse on July 12, 2011, 09:15:04 AM
A solution to this kind of problem is for wallet services to offer 'signed receipts' for all transactions, and only carry out transactions for which the customer first signed a request.

Then in the case of a dispute a customer can simply present as evidence their receipt (which has the account balance on it), with their digital signature and the wallet providers signature. Whoever has the most recent receipt 'wins' the argument (because everyones signature is on it).

https://github.com/FellowTraveler/Open-Transactions/wiki/Triple-Signed-Receipts
http://iang.org/papers/triple_entry.html
http://truledger.com/


Is a receipt enough? Won't you also need to show that you never withdrew the coins in order to prove you were actually stolen from?

You get a signed recepit for everything. deposits, withdraws, transfers. There is no action involving your bitcoins that doesn't include you signing something. If they can't produce a signed (by you and them) receipt showing you withdrew the funds, but you can show a receipt showing they have x balance, then you 'win' the argument.

If anyone is confused about how or why this actually works, I encourage you to read through the links above. It's a good read.


Title: Re: Mybitcoin is a scam!
Post by: lettucebee on July 12, 2011, 10:06:26 AM
BitMole is not here to be helpful. He is here to start a fight. He has an agenda. Observe him.


Title: Re: Mybitcoin is a scam!
Post by: lettucebee on July 12, 2011, 10:19:58 AM
i think it could be possible to proof the following through blockexplorer:

 - transfer btc to mybitcoin
 - ip adress of sender
 - mybitcoin did keep the btc
 - or ip adress of recipient

(but: i think mybitcoin has to help us here by providing the adresses and the guarantee its not moving btc internal).

I think this is the simplest way to confirm that mybitcoin is a scam, the fact that they are not here defending themselves from all us "thieves" claiming we've been ripped off.  They are not acting like a company that has a reputation to defend and that wants to grow and prosper.  Where is the great and mysterious Tom Williams? If anyone uses mybitcoin after this thread they are asking to get ripped off.  And if I'm wrong I'm sure Tom Williams will come here to rebut me.


Title: Re: Mybitcoin is a scam!
Post by: spndr7 on July 12, 2011, 10:49:33 AM
I lost my 0.5 BTC from mybitcoin.com when mtgox crashed .


Title: Re: Mybitcoin is a scam!
Post by: lettucebee on July 12, 2011, 11:28:27 AM
So what happened?


Title: Re: Mybitcoin is a scam!
Post by: lettucebee on July 12, 2011, 07:51:51 PM
BitMole is not here to be helpful. He is here to start a fight. He has an agenda. Observe him.

Observe some common sense. You have a problem with MyBitCoin; you post an obscure thread about it on bitcoin.org; the unnotified third party owner of MyBitCoin understandably does not participate in the thread (how could they without knowing it exists?); this somehow proves their guilt.

So if I have an issue with your site, you provide an internal messaging system that I dont use, i start a thread on some forum somewhere, and you don't post on it, does that make you a crook?

Sorry I wasn't clear.  I didn't use the mybitcoin messaging system at first because I was locked out of my account!  It was only later that I created a new account and tried to contact "Mr Williams".  Alas, many weeks later I can report he has not responded in any way.  I gave him plenty of time to respond before I went public with this thread.

At this point I am certainly DONE with mybitcoin.com.  If anyone is foolish enough to continue leaving money with this website they deserve what they get.


Title: Re: Mybitcoin is a scam!
Post by: rowbot on July 14, 2011, 12:57:55 PM
I lost 0.5 BTC to them during an autopay when they went down on the 3rd.  I emailed and received no response so far.  FFS it's only 0.5 BTC, but it's my 1/2 coin not theirs. 

I will be patient, but I will not send any more coins to them until this is cleared up and may just send directly to Gox in the future.

This was my experience as well. Pool -> MyBitcoin autopay happened to occur during their unscheduled downtime. Deposit disappeared, and technical support never responded. I was patient... for a week. Then I pulled out.


Title: Re: Mybitcoin is a scam!
Post by: PandaMiner on July 15, 2011, 07:02:16 AM
I've gotten free bitcoins in my eWallet in their site.  It was surely weird, I know sometimes coins get lost "in the void" and I guess that they actually end up in other people's accounts.

I don't know where the funds came from, it just says P2P in the history.  It wasn't a lot, all together it was 0.26 btc.  I don't like ewallets, especially this site, because when it's down for maintenance, I'm at their mercy, and can't access MY coins until the site is back up. So I pulled out weeks ago.


Title: Re: Mybitcoin is a scam!
Post by: FreeBitcoins.org on July 15, 2011, 10:48:32 AM
UPDATE: No response on the messaging system from my inquiry. Time to start an official investigation.

First I'll use the PO box and supposed name of the spokesperson for the site and see if I can't find any public records that might match.

This might end in me flying to West Indies, but we might find out the owner is dead. Does anyone else ever think of these things?

Please continue to update us on your findings.  Certainly seems like it's a one man operation and the owner is AWOL. 

I'm also waiting for a response about some missing bitcoins..a small amount, but I'd rather get them back than let them disappear into the void :D


Title: Re: Mybitcoin is a scam!
Post by: the founder on July 15, 2011, 08:30:50 PM
Again, Flexcoin.com is Ponzi game. You'd better not join the game unless you're sure that you're the earlist one or the owner of the flexcoin is your fucking boy and will share with his profit with you after he runs to Mexico from U.S. where he claimed be. Or he is in Mexico now, who knows?

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.   


"we need good laughs..." is not the words I want to hear coming from my banker.

I found it funny....  :)   The end result is that I'm here and I respond to questions... 


Title: Re: Mybitcoin is a scam!
Post by: saqwe on July 29, 2011, 11:19:28 PM
any news on mb being down?  ??? :o


Title: Re: Mybitcoin is a scam!
Post by: Aggro on July 29, 2011, 11:54:19 PM
Alright, I'll make it official. Mybitcoin is not a company to do business with. Avoid them at all costs.

Over a week ago my login credentials didn't work. Only at that time did I realize that mybitcoin has no way to recover passwords.  I found previous threads where people had trouble with mybitcoin (duh) and tried the email under whois (abuse@mybitcoin.com) which didn't work. I created a second account to send a message about my first account, but now, days later, still no response.

Please also avoid their banner ad company, Link2voip, also. Nothing against them, but maybe if Link2voip feels a little shun they will pressure mybitcoin to come clean.

Mybitcoin's behavior is a little confusing because they apparently were, at one time, a good service.  They have put a considerable effort into their site, they seem to have ambitions to expand as a bitcoin business, and their proprietor, Mr Williams, came forth and acted all CEOish during the recent Mt Gox debacle.

Unfortunately, new users are often being steered into their clutches. Bitcoinme.com pretty much tells new users to put their coins into Mybitcoin:
http://bitcoinme.com/files/8213/0763/0940/Buy_Full_Image_31_TradeHill.png

Check out a better image at:

http://bitcoinme.com/index.php/buy/

I have asked Bruce Wagner of bitcoinme.com to stop promoting them and he said he would, but we'll see. I am on a campaign to get the truth out about mybitcoin.  If they come clean I will be the first to announce it.  If you have any helpful information or have a similar story to tell I hope you will include it here.

Thanks for your attention.

I don't really think they are a scam, but their support can be slow and unresponsive sometimes. I can say however that link2voip is a reputable company. I used to have a hosted PBX with them for my business :).


Title: Re: Mybitcoin is a scam!
Post by: lettucebee on July 30, 2011, 02:17:47 AM
They take their depositors money.  Call them whatever you want.


Title: Re: Mybitcoin is a scam!
Post by: NothinG on July 30, 2011, 02:52:16 AM
Seems mybitcoin.com isn't online.


Title: Re: Mybitcoin is a scam!
Post by: manifold on July 30, 2011, 04:54:00 PM
Seems mybitcoin.com isn't online.
yes.. thats disturbing... I really should have stopped using them...


Title: Re: Mybitcoin is a scam!
Post by: manifold on July 30, 2011, 05:44:16 PM
maybe... but I hope it goes online one last time.. so I can get my 1 BTC out of there...


Title: Re: Mybitcoin is a scam!
Post by: BioMike on July 30, 2011, 05:54:42 PM
weekend, server crashes, company off for weekend, check back on Monday.


Title: Re: Mybitcoin is a scam!
Post by: BioMike on July 30, 2011, 05:55:32 PM
Anybody any idea if this is a more reliable replacement?

http://www.bitcoinpayflow.com/


Title: Re: Mybitcoin is a scam!
Post by: iamzill on July 30, 2011, 11:38:30 PM
Anybody any idea if this is a more reliable replacement?

http://www.bitcoinpayflow.com/

If you don't mind me asking, what's so unsatisfactory about the official client that you have to use a third party alternative?

I deposit my dollars at the bank because I have no choice. At least there's deposit insurance at the bank.

I would never let a third party hold my bitcoins, because:
1. There's no deposit insurance
2. There's no fraud protection
3. There's no accountability
4. There's no regulation
5. It's trivial to setup a "bitcoin bank", run it for a few weeks, and then run away with all the deposits. No paper work at all, just a few hundred lines of HTML and python. Don't even have to pay for any server and bandwidth (Amazon offers free small cloud instances).


Title: Re: Mybitcoin is a scam!
Post by: NothinG on July 31, 2011, 04:01:30 AM
Anybody any idea if this is a more reliable replacement?

http://www.bitcoinpayflow.com/

If you don't mind me asking, what's so unsatisfactory about the official client that you have to use a third party alternative?

I deposit my dollars at the bank because I have no choice. At least there's deposit insurance at the bank.

I would never let a third party hold my bitcoins, because:
1. There's no deposit insurance
2. There's no fraud protection
3. There's no accountability
4. There's no regulation
5. It's trivial to setup a "bitcoin bank", run it for a few weeks, and then run away with all the deposits. No paper work at all, just a few hundred lines of HTML and python. Don't even have to pay for any server and bandwidth (Amazon offers free small cloud instances).

Although I can't speak for everyone, I'd believe the majority are not in possession of a VPS or the knowhow. Perhaps you could post a tutorial for newbies?
/this


Title: Re: Mybitcoin is a scam!
Post by: iamzill on July 31, 2011, 04:37:20 AM
Although I can't speak for everyone, I'd believe the majority are not in possession of a VPS or the knowhow. Perhaps you could post a tutorial for newbies?

Ahhh, now I see what the problem is.

When I have more time I can write up a full tutorial, but for now I can give you two pointers:

The easy way: https://en.bitcoin.it/wiki/Lazy_API
Not terribly secure, but still miles ahead of using a third party escrow service.

The proper way: sign up for Amazon EC2 and use their free tier service. There are plenty of good tutorials online on how to do this, but it's a little involved.
You'll end up with a fully pre-configured linux system. Next just download the official client and then apply the startup script from http://forum.bitcoin.org/?topic=965.0 (http://forum.bitcoin.org/?topic=965.0) and you're done.


Title: Re: Mybitcoin is a scam!
Post by: BioMike on July 31, 2011, 06:06:37 AM
Although I can't speak for everyone, I'd believe the majority are not in possession of a VPS or the knowhow. Perhaps you could post a tutorial for newbies?

That, and I don't want to be bothered with all the details of the accounting. It is easier to get just a notification when the money is in.


Title: 1000btc frozen, lost or stolen by MyBitcoin?
Post by: toddbethell on July 31, 2011, 01:14:01 PM
1000btc frozen, lost or stolen by MyBitcoin?

By Todd Bethell

On 12 July 2011, 1000btc MtGox to MyBitcoin.
On 28 July 2011, 1000btc MyBitcoin to MtGox.

28 June 2011, payment notification was received. 8hrs later (the site was still up) visual verification was done in account history of the transaction and correct address.
48 hrs later still no coins.

This is where I need a block explorer expert.
21 minutes after MyBitcoin received the btc block explorer shows the coins from that wallet being split and transmitted hundreds of times all the way down to 1 Satoshi.
Question:
1.   Is this normal or a sign of fraud making it impossible to track?
2.   Are all wallets effectively used as ‘pool wallets’ for payouts?
3.   While I am not accusing MyBitcoin of theft, itn’t plosible that

Block 135867 (2011-07-12 07:06:54)   1000   Received: Address   •   1DeAkzL1MBriA37pHS46Nu1xcCzJ5sPupH
1000

Block 135870 (2011-07-12 07:27:05)   1000   Sent: Address   •   17e8zfFzVkKtx4ofdeoYHhdvu1cTKCpv2r
•   1NgjsaazumvjaR3WZuLqqKEed79RneQy2Q
0
-------------------------------------------------------------------------
MyBitcoin Payment Notification
MyBitcoin Robot [nobody@mybitcoin.com]
toddbethell@fastscanning.com
-----BEGIN PGP SIGNED MESSAGE-----
Hash: SHA1

Hello,

This is a payment notification from MyBitcoin.

You have sent Bitcoins!

Transaction Number: 245107
Transaction Date/Time: 2011-07-28 22:30:02
To: 18jsFKuKZ4w8mhdTYy9bZKKHmkZNSZrRUC
From: 19vKB489Lx1rxqS366f63mKDLXp6q3v3Ct
Amount: -1000.00
Payment Note: MtGox businessaccount1

Thank you.

-----BEGIN PGP SIGNATURE-----
Version: GnuPG/MBC v1.0

iQEcBAEBAgAGBQJOMeLqAAoJEJ+5g06lAnqF2ZYH/0FYDSmSxQa4l8+Q50e+1qEN
r9D6GXVPo5A4jXzgjtXTs2Rj2WmbLnsm2I8vc+fQFvniUiZT3nSbixVAU9wPm0w6
cTD8gNvEe+P9aNttZqGxa9xnCOVkE4ypF+n4jEmE/e3H5yh6Ix0oCI50luIeQZir
e0/5sF7ZbWDWhNta9+A6yvWYEI7KLZK+zke8EbLmB3YIDZ+EpaegrT74H6s7fHRR
cSopmnyDXX1biS8Mao7GSoTgXuPOTaMRae+4SN4pL1aoRZahWX/SsLXDj2Skjc/4
jtLBq7RLb8x3wo23IiURyzKZJr1Cw75cTULdLcNoUZajewapxIqA9DhFJK8HlSk=
=EFK8
-----END PGP SIGNATURE-----

Approximately 8hrs later the coins had not been credited to my MtGox account. MyBitcoin was still up. My account history showed the coins had been sent and the sent to address was verified correct.
Security Note: The instant before clicking the send button (perhaps when my mouse hovered over it) I notice a screen blink or something changed, but it was too late to avoid clicking the button.

Q1. Has my computer been compromised such that the send address was swapped at the last instant?
Q2. If this is so, how could the correct address be recorded in the MyBitcoin data base?
Q3. Is it coincidence that the MyBitcoin service has gone down for 48hrs with nary a peep from its owner? A person who was very proactive and vocal during the MtGox incident.
Q4. I’m hard pressed to think of a technical reason how or why a transaction confirmation bot would send confirmation of btc transmission before such a transmission had actually occurred. Let alone consciously programmed in this way. It would seem that the bot was part of the book keeping data base and not confirming actual transmission from a ‘hot’ wallet.
Q5. It seems that the way MyBitcoins was using the wallets of its members (pooling them as a matter of operational efficiency or draining them as a scam??) this makes it impossible to track coins or analyze if they are insolvent?
Q6. Was my 1000btc withdrawal lower to water level in his 'hot wallet' enough to show Tom was swimming without a suit? In other words, for whatever reason, he was operating insolvent?

I would not normally keep so many coins in an on-line wallet but this was in preparation for a business transaction that was delayed.

I am preparing a blog and forum post or lessons learned and recommendations going forward:

If anyone has further information please post it here and send to my email also, or give me a call.
Skype:  toddbethell
Email:  toddbethell@fastscanning.com
Cell:  1-949-394-5932

-----------------------------------------
Action taken:
Phone: +6499518329  (always busy)
Emailed: enquiries were sent to abuse@mybitcoin.com
It is well know that Tom… only replys to ‘in-mail’ on his site.

Tom Williams
Main Street
PO Box 556
Charlestown, Nevis, KN


Title: Re: Mybitcoin is a scam!
Post by: seeARMS @ Bit-Bank on July 31, 2011, 09:22:26 PM
I'm working on a SCI for https://bit-bank.org - hopefully I'll have it up relatively soon.


Title: Re: Mybitcoin is a scam!
Post by: tsvekric on August 01, 2011, 09:07:52 PM
Seems mybitcoin.com isn't online.

I don't know about the rest of you, but my original theory that something has happened to the owner (could be lying in a hospital for all we know) is looking more plausible.

Seems like your bitching and attacking other users was completely baseless.  After reading your posts in this thread I really wouldn't pay much attention to anything you post now due to some poor reading comprehension skills and general assholier-than-thou attitude.


Trust seems to be the biggest stumbling block for bitcoin is trust.  I would never put too many bitcoins in any one place due to everything we've seen from MtGox, mybitcoin, wallet trojans, etc etc.  We need some long established trusted financial corporation to get involved in bitcoin, and not trust website made by some random dude we know nothing about.

If thousands of bitcoins are lost due to this one website, the community should be up in arms and attempting to help.  I hope something is found out about the owner of this site.



Title: Re: Mybitcoin is a scam!
Post by: NothinG on August 01, 2011, 09:52:51 PM
Seems mybitcoin.com isn't online.

I don't know about the rest of you, but my original theory that something has happened to the owner (could be lying in a hospital for all we know) is looking more plausible.

Seems like your bitching and attacking other users was completely baseless.  After reading your posts in this thread I really wouldn't pay much attention to anything you post now due to some poor reading comprehension skills and general assholier-than-thou attitude.


Trust seems to be the biggest stumbling block for bitcoin is trust.  I would never put too many bitcoins in any one place due to everything we've seen from MtGox, mybitcoin, wallet trojans, etc etc.  We need some long established trusted financial corporation to get involved in bitcoin, and not trust website made by some random dude we know nothing about.

If thousands of bitcoins are lost due to this one website, the community should be up in arms and attempting to help.  I hope something is found out about the owner of this site.


If you know of a country that has Legalized Bitcoins as a Currency, I'd agree with you.
Unfortunately, there isn't any well-known established Financial Corporations that will put Bitcoins before USD (or other local currency).


Title: Re: Mybitcoin is a scam!
Post by: Bitcoin Swami on August 02, 2011, 01:33:16 AM
Wow amazing how the people warning about mybitcoin were harassed.


Title: Re: Mybitcoin is a scam!
Post by: logansryche on August 02, 2011, 04:16:01 AM
Wow amazing how the people warning about mybitcoin were harassed.

No more then any other ewallet I supose. Pity, mybitcoin.com worked so well for me.
Only a matter of time before another wallet becomes unreliable and those threads start rolling. -.-


Title: Re: Mybitcoin is a scam!
Post by: NothinG on August 02, 2011, 04:17:36 AM
Wow amazing how the people warning about mybitcoin were harassed.

No more then any other ewallet I supose. Pity, mybitcoin.com worked so well for me.
Only a matter of time before another wallet becomes unreliable and those threads start rolling. -.-
As soon as I figure out http://bitcoinjs.org/ I'll be getting that setup :P


Title: Re: Mybitcoin is a scam!
Post by: db8393 on August 02, 2011, 11:08:21 AM
I say its a bad sign when

a) a website is nearly free, has very little revenue yet stores thousands of dollars of hard to trace bitcoins
b) has no real contact info, eg fake phone number.  The owners are not public figures and are not accountable.
c) Owners stop responding during a crisis (normally people step up with press releases etc)
d) did anybody else chuckle when the read the security press release?  That press release is full of hokey sounding security.  He might as well have said he sleeps at the colo with an m-16 to keep his VPS safe.

Did anybody have communications with the owners of Mybitcoin?


I just want to know why Gavin was pushing mybitoin.  He still links to it on his site clearcoin.  Is he a sucker or somehow involved?

Did Gavin know the owner, why did he recommend the site?

Did Bruce know the owner?   



My opinion is no wallet service run by anonymous phantoms can stay legit for very long.


Title: Re: Mybitcoin is a scam!
Post by: f41lover on August 03, 2011, 01:48:00 AM
Just in case you guys didn't already read it, it seemed pertinent to add it here as well.

The UABB is spearheading a legal and unbiased investigation into MyBitcoin.com but needs your support. Discussion about MyBitcoin.com is very healthy for the sharing of ideas and suggestions on how to tackle this very serious and difficult problem, but nothing will be done about it through forum posts.


Please start contributing to the actual investigation by adding your affidavit, attaching evidence of funds lost, and contributing to the fund to pay for international investigators. Thank you.


http://uabci.org/redmine/projects/mbci (http://uabci.org/redmine/projects/mbci)

[/size]



Who are you and what's your background, Mr. Matthew N. Wright ? sounds like you are a lawyer of some sort, from your language. I hope you are not a politician, you look like one, or worse, a scammer. But you definitely don't look like one. Well anyway, what are you adding to the discussion ? Talking on forums is not pointless, it is sharing experiences and tryin' to get a grasp of what happened collectively, then something will be done.
You are just plainly asking for donations, but who will give us guarantees about the "transparent funding" you talk about, etcetera ? is there an organization looking over your organization ?


Title: Re: Mybitcoin is a scam!
Post by: tsvekric on August 03, 2011, 04:49:48 AM
 ::)


Title: Re: Mybitcoin is a scam!
Post by: BitcoinNational on August 04, 2014, 05:58:41 PM
myBitcoin .. so Goxy before it was cool to be Goxy .. then bitcoinica, passthru bonds yer pirates, silk road, etc etc ... 1/3 or more must be in CON artist hands (or fed operatives).


Title: Re: Mybitcoin is a scam!
Post by: powerguy on August 04, 2014, 07:28:59 PM
too much scams in this business come on


Title: Re: Mybitcoin is a scam!
Post by: suman66 on August 08, 2014, 06:18:16 PM
Sorry for those who lost their money . And these types of autopay sites has always risk of runaway because admins of these sites never share contact info i have no trust in these sites


Title: Re: Mybitcoin is a scam!
Post by: upsndowns on August 28, 2014, 02:28:22 AM
Be alert,scams are flooding this market


Title: Re: Mybitcoin is a scam!
Post by: dopecoindude on August 28, 2014, 06:43:21 AM
LOL bruce wagner biggest con artists bitcoin has ever seen....