Bitcoin Forum

Had to cancel my first listing there, as the auction was going to close in 30 minutes.  I'm really bummed about this.  Sorry to the two people who were bidding on my Silver "Thank You" bar, I thought it better to just delete the auction rather than get embroiled in the rush for the exits.

Does anyone have suggestions for a replacement for Bitmit?

Hmm, this smells fishy

Please elaborate.

a hack

No not a hack...i threat from higher? Authorities? Ebay who claim their colours?

is he selling his domain?

If you are interested in buying the site we will publish further information in about 2weeks. Meanwhile please stay patient.

Can you tell us what happened? A website which runs smooth as hell and then you stop? Must be something?

Wait what? This is real. Why!

I have ordered an item which has still not arrived. What do I do after that?

The side where I used BTC the very first time?

Wow, that almost as sad as when the bar where I drunk my first beer closed down  :'(

Why?

ebay bought it  ;)

Wait you're not the owner of bitmit, on your profile this is the bitmit account you linked; https://www.bitmit.net/en/user/uk1/?ref=5540
and its not even a verified account

So you are a Bitmit representative?   I registered with Bitmit on Jan 20 this year, and within DAYS the whole "we may be listing the site for sale on the site itself" thing happened.  That put me off for a long time.  It was handled in a completely unprofessional manner.  I should have known better than to attempt to deal with you again.

No, I am not buying you a beer.

Bitmit is closing Bitmit is shutting down its services in four weeks. Please complete your orders and withdraw your funds!

2013 November 6th Read more..

You are allowed toplace new orders until November 13th. If you are interested in buying the site we will publish further information in about 2weeks. Meanwhile please stay patient.

«The end is the beginning of all things, suppressed and hidden, awaiting to be released through the rhythm of pain and pleasure. Bitcoin evolved from asore baby to a powerful soldier who is surrounded by a wonderful community of freedom fighters! With your help Bitcoin will be able to defend itself in the fight against all financial systems that are based on debt. But for us it's time to move on. »

We really appreciate your long time support!

THANKS AND BYEBYE!

PS: In the case you want to send us abeer: 1KBbTJ1G1KBJmdqiFbYDRh6KiBwFUWkUis (Thx&Cheers!)


i going for not making enough profit

Pure BS.  I see you are one of those people selling gold and silver PLATED bars - in other words FAKES intended to defraud people.  You POS.

That's weird and random. Although to be fair they really shouldn't have used Ebay's colours.

WOW!

And he's been phishing

phishing who?

Weird, any official statements why the closure?

Because I like Bitmit, bought few things from there

Its official they are closing :( got reply back from support, i thought it was a hack at first

that quite sucks since nothing similar around with as many users

I don't know who you are, uk1, or why you appear to be representing Bitmit (or is that the "royal we"?) but your posting history here is bizarre.  Page after page of "Welcome to the forum" in the newbies section doesn't enhance your credibility.

And then there is this thread:
https://bitcointalk.org/index.php?topic=252389.msg2684836#msg2684836

What kind of person sells bars embossed ".999 Pure Gold/Silver", that are PLATED?
A scammer, that's who.

stated on the listings as plated.
scammer?check my feedback
+157
https://www.bitmit.net/en/user/uk1#feedback

Oh, you sell counterfeit £100 notes too, I'll bet.  All above board, right?

I'm rather suprised that a viable alternative to amazon/eBay that lets me trade with BTC is facing closure.I was shocked as I only saw the notice earlier tonight.I hope the new owners will keep this site running.Thankfully I managed to get my last order finished.

i dont sell £100 gbp bank notes
no such thing.

Both of those items are used to scam people who buy them from who buys them off you.

i dont sell £ banknotes

you best start reporting sellers on ebay
http://www.ebay.co.uk/sch/i.html?_trksid=p2050601.m570.l1313.TR1.TRC0.A0.Xclad+bullion&_nkw=clad+bullion&_sacat=0&_from=R40

This is very disappointing to hear.
I think Bitmit is a great site and have had a few successful and smooth transactions on there.
I must admit, I am now slightly worried though. You are holding over 7 BTC in Escrow for me and my buyer should be confirming that he has received any day now.
Please tell me they will go into my BitMit wallet ok....it's about all I have in the world right now.
 :-[

But you do sell items intended to defraud.  Tell me, do the fake plated bars you deal in have the word "plated" anywhere on them?  

Novelties
end of story.

Does this mean Bitmit will be sold on Bitmit for a second time?  ;)

Cannabis scented parsley? 

Integrity?

You're not the only one whose sense of recursive ridiculousness was tickled by that concept :)

You know, I'm thinking it may be related to this:
Silk Road 2.0 Launches (forbes.com)
https://news.ycombinator.com/item?id=6683761

I really like the service.

Any idea how much it would cost to buy the website?

This has just been added to the announcement on the website;

"There has not been any hack, missing funds etc. but we think that such a site should be run by a more professional business entity"

https://bitcointalk.org/index.php?topic=119334.0

Expose---Big article  in print version of Bitcoin Magazine on BitMit was released about a week ago

"BitMit Bitcoin Auction is with Bits but Without a Face "

spoke to one of the founders briefly... also found/interviewed the original graphic designer for BitMit...

here's the first para

"Just a five minute walk from the Hong Kong Ngau Tau Kok Metro Station is Flat B20/F, Infotech Center No.21 Hung To Road, Kwun Tong, Kowloon, Hong Kong. This is the address given on the contact page of Bitmit. “Kwun Tong is a district where traditional Chinese culture and modern technology can be found,” boasts the “Fun in Kwun Tong” Website. What’s more, be sure to check out the “Lei Yue Mun Night Scene” after hours:..."

Latest Issue Issue 14 (Ignore Amazon date)
 http://www.amazon.com/Bitcoin-Magazine-Issue-CoinJoin-Anonymity/dp/1627767428

So... what is the implication, another cheap Chinese rip off? The BitMit folks appreciate traditional Chinese culture? Without a face because checking out the night scene is another way of saying they use hookers?

My apologies but that link doesn't open any article or give me any glimpse into the scammy-looking ebook on sale for five dollars on that page and suffice to say I'm not buying a book about Hong Kong tech self-aggrandisers who are more interested in running away than looking after the customers that supported their business model.

The site has shut down, they're not saying anything, so they got leaned on. Leaned on hard. Imagine using the same colours as ebay anyway, that's not only a pathetic lack of imagination, it's asking for trouble.

*flips two cents and walks away*

;)

Bitcoin Magazine has some exclusives in PRINT.
This article has not yet been released online (and it may not).

i cut and pasted the above from bitmit,net i never Pretending to be owner of BitMit.

Why not? Seriously, that's just dumb.

So - what's the next bitmit going to be? baymit?

Any truth behind the SR2 allegations?

This really sucks.  IMO, bitmit was one of the best things going for the bitcoin economy.  I used it a lot, both buying and selling.

It was a hell of a lot less cumbersome than ebay.

I sure hope the pending closure is just because it got to be to much hassle for the owner to run, and that a more capable party purchases it and keeps it going more or less without interruption.

I know it has had a lot of downtime lately.  Also, the staff have to deal with judging and resolving every trade dispute that comes up.  Plus I'm sure it was a big target for penetration (holding all those coins), and DoS attacks.  All of which == a big PITA.

FWIW, I was able to login and successfully withdraw the 5 BTC and change from my bitmit wallet in the usual manner.

Since alternatives are being discussed, there's coingig.com.  I haven't tried it out myself yet.

Or someone should organize a crowdsource campaign to buy and IPO it.

I'm sorry to hear that!! Bitmit has been an inspiration to every one who uses bitcoin for purchases..

cryptothrift (https://cryptothrift.com) is another platform very similar to Bitmit, we only charge TX fee and 1% on escrow is used... We do not hold funds, as soon as payment clears, funds get sent, and as soon as item is marked as "received" escrow funds get released..

cryptothrift (https://cryptothrift.com) also support LTC ;)

Check it out :)

In response to cryptothrift -

Do you think your bitmitimation will experience growth or destruction via the creation of the newest iteration of bitmit?

It's not quite bitmitimation given that we support Litecoin and other alt coins are being tested as we speak..

Growth or destruction? Looking at the growth of user base in the crypto community, I think it's now safe to say that the market is big enough for more than one auction site and market place to co-exist and experience growth.. In saying that, crypto is innovation and innovating, so keeping any service up and running requires continuous maintenance and innovation, which is why we're always looking and developing new features and we're open for any suggestion/criticism :)

damn that sucks was just starting to like bitmit

Disapointed.   BitMit.net is great.  Used it to buy/sell and was about to used it more and more.

Hope someone will buy it and it will grow and stay.

This is very fishy, they are shutting down right after doing a big server upgrade?  Makes no sense at all.  Why invest the money just to shut down a few weeks later?

Outside of the exchanges, Bitmit is one of the more well known names in the community.  If they are really shutting down out of choice, the owners have lost their minds.  My bet is there is something else going on here.

My guess is it's just because what it says in that note + exchange rate. Whoever created it probably made enough for a lifetime at this point. Best thing to do is to just sell it before it gets even bigger and legal stuff and customer support become too much of a burden for a small company/one guy who doesn't want to deal with that.

This is really disappointing! :/ I really hope that someone buys it. I love how easy it is to buy and sell on the site. I recently sold an item on Ebay for the first time in five years and was horrified by the fees, the Paypal holds and scammy buyers. I won't be selling on Ebay again. Bitmit with its reasonable fees, pricing flexibility, awesome buyers and trust will certainly be missed. I might have to look at setting up shop at coingig or Cryptothrift though if someone doesn't purchase the site.

Couldn't agree more.  We started cryptothrift.com with the intention of trying to bring more payment options to the marketplace and still keep the low fees.  We already support LTC, but recognise that there are plenty of people that are happy to trade in alternative currencies too.  So we are about to release the addition other crypto currencies as payment methods and hopefully add a new dimension to the market. 

Bitmit has been great for the bitcoin community and I do hope that the guys have a good reason for closing down.  Of course we (cryptothrift) are a competitor, but we are also all pioneers in this industry and should be helping and supporting each other where possible.  Competitor or not, it's a shame to see one of us drop.

I just visited your site and bought an item to test it out.  One minor glitch...when I was presented with the barcode for payment, it wouldn't scan to a legitimate BTC address.  I had to enter the address and payment amount manually.  And yes, I scanned the BTC and not the LTC address.  Other than that, I like the site.

Thanks for the feedback - I'm fixing that bug as I speak.  The issue was that when applying the 1% escrow fee this resulted in an amount with 10 decimal places, which of course BTC doesn't support.  That caused an invalid QR code to be generated too which is why it wouldn't scan.

Paul

I have just under 7 BTC in my wallet at Bitmit.
I have just tried to do a small withdrawal to my local wallet and got a message saying that a confirmation email would be sent to me. That was 30 minutes ago and one hasn't arrived yet.
I have looked on the site and in my transaction history list the latest entry says "Queued
Waiting for Email confirmation"
I have sent Bitmit support a message telling them all this and asking how long I will have to wait but have had no reply yet.
The last time I withdrew 6 months ago you didn't have to receive an email and it was almost instant.
This is beginning to worry me.
Should I be worried?
 :-\

^ Ya a little

yo sup man i bought from u before

I also appear to be having withdrawal issues. While I only have ~.43 BTC in my account, it's still concerning...

retry doing the withdrawal.

I have just requested the withdrawal of  the rest of my balance and there's nothing left in there to withdraw now.
Exactly the same thing is happening with this one too.
No email sent to me.
 :(

Now the site is unavailable.
Undergoing maintenance
 :o

Site not there....just this message

Error 521:
Website is offline The server may be down for maintenance, there may be a network problem, or the site may be experiencing excessive load.

I feel sick.

 :( ... Sorry bro, it is not a done deal you might get the coins back.

They have just removed all listings from the site, two days after the announcement of shutting it down..
You can't even view sellers or buyer's reputation right now.
They also, keep changing the deadline, two days ago it was "in four weeks", yesterday it was "in two-three weeks", today it's "in two weeks".
They also were stating until yesterday that placing new orders will work until 13th of November, but they removed all listings today (which effectively makes it impossible to place new orders) and now saying to "complete all orders asap!".

Something is really fishy here, are they actually gonna close down the site with all funds in escrow few days after the announcement?

In the last hour I have had the email asking me to confirm that the withdrawal request of the 6.95 BTC from my Bitmit wallet  is mine and I clicked on the link in it.
I then confirmed.
The status of the withdrawal  has now changed to 'pending' for me.
I will report on the transaction the minute it hits my wallet.

I should add  that I sent a DM to Tosaki voicing my concerns and he was kind enough to reply instantly explaining the technical problems and he assured me I had nothing to worry about.

I would suggest looking at cryptothrift.com (https://cryptothrift.com)

We've been experiencing a huge amount of new registrations and listings.. Give it a shot and let us know if there's anything we can do better :)

We're running a promotional offer till the end of the year where only transaction fees are being charged on sold items across the site, so it's nearly free to sell :)

We also support Litecoin alongside Bitcoin!

See you around guys!

Never in any doubt!
The BTC are halfway into my wallet right now.

http://illiweb.com/fa/i/smiles/icon_cheers.png

Why on earth was I panicking?

http://illiweb.com/fa/i/smiles/icon_scratch.png

If you need an alternative to Bitmit, try HalfPriceDigital.com  You can auction/buy stuff for BTC using your Coinbase account and you can also buy/sell for fiat using PayPal and Skrill.

I wonder if Bitmit is having regulatory problems regarding their escrow service.  I think offering escrow requires some government licenses, which is why we don't have an escrow system on HalfPriceDigital.com

Many of these businesses in Hong Kong are illegal or trading without a license.
This may not be the case with 'Bitmit' , but every other 'business' I have 'called out' usually ends up  shouting about being a troll.

It seems many of these so called 'businesses' just do not like people fishing about in their  background.
Currently I have  'calls out' on about 5 'businesses' that have been traced to Hong Kong,  Three I have enquiries with the 'FSC' and two with the  government business registration.
Sofar no licenses can be found.

There was a VERY interesting article in the Apple daily yesterday about bitcoin and massive frauds in China & HK..  one exchange registered as a business in HK has just run off , others are operating under 'money changers' licenses.

I'm very close the registered address of bitmit…. if someone can supply me with a copy of the  bitcoin article I can go take a look…….

企業資料
辦公地址: 香港九龙官塘鸿图道21号讯科中心B20楼F室

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

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

The Article NOT the address.

That's too bad, the site never got a chance to really take off.  I've been to it shopping a few times, but they didn't have what I was looking for.  Would've been really cool if it became a significant competitor to E-bay.

Reporting back in to say my withdrawal went through fine. They must have been backlogged by requests the other day.


At least my funds are safe. Still a sad day though :(

I tried withdrawal with no issues yesterday. Got it within an hour as the system stated.

A pity that this site is going down, I liked it alot for it's simplicity and lightweight, and the ease of use for seller and buyers wise. I looked at the other 2 alternatives but they are not there yet.

It could be possible that their low fees does not sufficiently sustain the business

Same here.

Pending.   It always was instant before  :(

I have registered with cryptothrift and listed some silver bars.  The site looks great!

https://cryptothrift.com/?a_action=user_profile&post_author=446

I'm trying to figure out why they are closing and selling. They were selling ad spaces for like $50 each.

My guess is that they ran into regulatory problems.  Running an escrow service requires certain licenses.  All the bitcoin auction sites offering escrow without a license are putting themselves at risk, and since they are holding their customs' BTC in escrow, also putting their customers at risk.  Not having an escrow license is probably the reason that a lot of the BTC auction sites are shady (i.e. they don't have a company address or registration number and they register their domains by proxy.)

The problem with these shady auction sites and not knowing who owns them is that they could run off with all the money in escrow and no one would even know who they are.

We're currently working on registering a business name and getting the proper licensing for escrow as well :)

Now that most features are public, we can focus on the legal side of things.. But here in Australia regulations are just as bad as the US, so wish us luck guys :)

We're glad you like the site! Please let us know if you have any suggestions or features you'd like to see!

Welcome aboard :)

i think it was more of a regulation thing then income and profit

Why are we left guessing?  That is really what made me so mad about this.  They never gave any warning of any problems, and just out of the blue announce they are shutting down.  An an auction site is an ecosystem, it's just very bad form to collapse it in two weeks and disappear with barely an apology to their users.

I hope it works for me.  The biggest problem for this kind of site seems to me to be the very speculative and volatile BTC price.  With a more stable price sites like yours could become huge, and without knowing the regulatory issues in Australia, I think it can only be an advantage to be located outside of the US.

Sad to see bitmit go. We only did a couple of sales there, but found the website itself was a fantastic community of bitcoin users from around the world.

Did not know about CryptoThrift and will look into it.

On halfpricedigital.com (http://halfpricedigital.com) you can list items for sale in USD, but you pay with BTC.  The conversion to BTC is done at the time you pay, so you never have to worry about the volatile price of BTC.

I have been selling on bitmit since 2011.  Sad to lose this community resource, I made over 110 bitcoin from selling on bitmit.

I have bought from but not sold on CryptoThrift, but it does have an awesome amount of potential.

Good going on the legit escrow and such.  Can't wait to see how it evolves.   I have a bunch of silver coins that I am interested in selling. 

Really? How do you know?

That would be my guess also, if someone offered them $$$ for it and not knowing the future of biocoin, than way not. I just checked on some of these how much is my site worth, and the value of bitmit was around $250K

I know I can't believe the bitmit is gone! I used to sell all kinds of stuff on there!

I got wind that a new BTC auction site just launched

www.distractedpuppy.com suppossedly literally just opened

I looked around a little looks like a beta but looks promising! Maybe there is hope  ;D

Unfortunately none of the sites launched so far comes close to Bitmit. Even when they actually do have some content they don't realize that they need both buy now and auction functionality, they have a crappy search, and/or they have way too general categories so you end up having to click though 50+ pages of completely irrelevant stuff.

This really needs to happen.
I know of no currently operating auction site that I could comfortably call my home.

If there are any developments in this matter lets be sure to keep each other appraised by posting here.

"BTCitbay" is my .002

We do admin at cryptothrift.com (https://cryptothrift.com) we had a really bad search functionality/filter options. This is our main focus at this stage, we've added more filters to the search and we're building the search function/relevancy from the ground up. We have it searching all (Title, description, tags, categories, etc...) and search by a single word. This has proven to be wrong as if you searched for the term (Bitcoin T-Shirt) for example, it would search for the term "Bitcoin" and the term "t-shirt", so users would end up with 100's of items which are not related just because the term "Bitcoin" exists in them.

This should be done by Monday and we hope you will find it a much better home for crypto auctions and marketplace.

You guys need to do a lot more than filter frequency tweaking...
I recommend ebay over thrift and that says it all coming from someone who knows how much eBay+PayPal+fees on both sides= sucks > cryptothrift. The problem is you can't be trusted and you have no volume.

Re Trust, our meeting with our tax agent and accountant is end of March, we will be operating as a proper company on Australian land (yes, it did take a while to find someone who didn't say "What's that again? Bit...? Can you spell it for me?". So we will have an official contact (Phone and P.O Box) as well as an Australian Business Number alongside public liability insurance.

Regarding volume.. Yes, we do understand the the ^^ "Trust" plays a big role in that, so we're hoping the volume will increase as the trust does. In saying so, we have been seeing an tremendous increase in traffic.

I am personally happy to verify my personal details with any reputable person in the Bitcoin community. Australian Bitcoin Association members know me by person as I attend the weekly meeting and monthly events and they know that I'm the person operating cryptothrift.com.


Daily visitors for the past month:
https://i.imgur.com/MqTRGt6.jpg

I applaud you for all your efforts in becoming fully compliant and transparent. :thumbsup:

If I was part of a legitimate team I would be pleased too. I wish you the best successes.

My criticism my have came off as pointless and sharp, perhaps it was one, but not both.
It's only the most shredded contestants that are gonna cut even an etch in this mountain.

GL; etc;BTCtc