What a downer. Guess we should all slit our wrists and fall off the side of the blood stained cliff into the pit of eternal woe and abandonment. Last time I checked, the IRS said it's going to be taxing Bitcoin. If it's taxable, it's government regulated. Pretty sure you contradicted yourself by saying it's quite easy to trace someone then say to just give up. Le troll logic. There are several other reasons to entangle someone in a court case (some far dumber than others) besides the traditional 'I've lost money/property and I want it back in the form of your first born child,' such as emotional distress (seeing a lot of that here).

Maybe the amount you had with CoinEX was no big deal, but for some people that just isn't an option. I'm simply giving them more options than to complain or activate goth mode. I had a couple grand in alts and a few hundred in shares, but I'm not losing any sleep over it. What would make me lose sleep though is not doing anything to ensure the situation doesn't repeat itself, at least not with the same ring leader.

Assuming CoinEX never comes back, I think the best bet (for American victims at least) would be to report this issue to the Internet Crime Complaint Center. I'm not sure if foreign victims are allowed to file reports, but it doesn't hurt to get as many testimonials involved as necessary to ensure justice is served. Those with additional information regarding the identity of the perpetrators will be a big help in speeding up the search process for them. There's enough money and victims here that it would be hard for them not to pay attention to this case. Unfortunately, the FBI doesn't disclose the details of what they do or if/when they find said criminals, but it's better than leaving it to the phantasmagorical realm of 'assassins.'

Bringing it to the feds may leave a bad taste in the mouths of certain crypto anarchists, but reality has to hit home eventually.

Apparently Cryptostocks has disabled the listing of new projects; one step in the right direction at least.

Old thread is old.

Mining in general isn't really profitable anymore from my perspective. The market is moving too quickly to blow so much on a machine that will realistically only be useful for a month at best...all the while struggling against rising difficulty and price fluctuations. Anyone who can claim to make ROI in less than 20 days is probably either lying to themselves or killed someone to get some hardware. The only people making money fishing are the ones selling the fishing rods.

Or better yet, no CoinEX?

Anything under 1 TH is going to be effectively useless. I managed to dump my operation before it got any worse. At this point, I'd say mining really isn't profitable any more unless you've got a huge farm running or planned. Although if you have that kind of money, you're probably not worried about much. I would definitely move to investments. It's much safer that way.

I was very tempted to invest with them, but after they did a series of stupid things (hiring a random know-it-all pillock from their forums as a staff member, consistent stream of generalized excuses...which is still continuing to this day, as well as blatant refusal to acknowledge their lack of experience in customer support and accept good advice from others) I decided it would definitely not be worth the trouble. You can't expect miracles from people with hardly anything to show for their claims.

They've overestimated their own capabilities, and everyone else who invested with them is kicking themselves for doing the same. I wouldn't be surprised at this point if they simply disappeared come May.

Spikes aren't predictable, and they're not nice to get in your foot. Treading lightly doesn't help much in the mining game, because you're bound to find one eventually...which was the point of that post; there's nothing predictable about difficulty and calculators offer false reassurance.

I love how people (both customers and potential customers) keep giving these guys business advice. Something doesn't seem right here. It's unfortunate things are this way, but generalized and vague updates are all any of us are probably going to get. Combine an extremely poor customer service model with a burgeoning (and possibly ill-fated) industry and this is the result. I gave up on BA a month ago for this reason, and it looks like nothing has changed, even though it was 'promised' there would be major updates this month. Meanwhile, the difficulty just keeps rising.

From what I understood after speaking to both eBay and Paypal, neither service really wants to do business with BTC...at least not at this time. Miners are fine to sell, but BTC itself is a no-no. Even with paper wallets or a physical delivery of an item accompanied by a BTC transfer, Paypal does not offer any form of protection for it in the event a case is opened against you, even with a tracking number; this is coming from a claims department worker. I was surprised to hear this, considering how many people (including myself) think paper wallets offer protection.

Admittedly, it's harder to scam utilizing that method, but if you do business through Paypal, you're not completely safe in the event a scammer gets ballsy.

Also, lowered the price even further on these miners. Not going any lower than this. These are listed on eBay as well.

Even with profit calcs, it's very deceiving on what you're really going to make. I projected a 35 day return on my miners with difficulty and electricity adjustments which has now turned into 100 days thanks to the surprising rise in difficulty. You can't calculate that X factor to a solid number unless you know exactly what the thousands of other miners' circumstances are. It's just not a winning endeavor unless you get a miner for absolutely nothing...or if coin values quadruple in the next few days. Neither scenario seems likely.

Updated pricing.

I'm taking a hit on these prices, but I'm still willing to sell. Can do BTC payment via BTCrow.

After mining for about a week at a decent speed, I'm starting to seriously doubt I'll ever make ROI. The difficulty just keeps rising...even without the new generation miners. That 3 billion difficulty mark is almost assured by the end of February. Even 2 TH/s rigs are going to be challenged. The whole concept of mining is very tempting, but unless you get your miner for free, or very very cheap...it'll never pay off. The market moves far too quickly to keep up.

PayPal is not easily reversed when providing a shipping receipt. I have sold many things on eBay through PayPal with no problems whatsoever, miners included. It was my own fault for selling Bitcoin through direct transfer.

I'm selling my small mining operation to pursue other Bitcoin aspects (trading, cloudhashing, etc)

-($2100) Generic Avalon 'batch 2' unit that runs between 200-230 GH/s. This unit has a modified cooling system; there are two fans on each of the large heatsinks inside. The three exhaust fans have been reversed to suck air out. Feel free to reconfigure this how you see fit.





----

I do business through Paypal, despite their recent assistance in quickly reversing two scam transactions that cost me around $300. I'll send you the payment invoice through your Paypal email, you pay me, I send the miner with tracking and insurance. I will only be shipping to within the U.S. as I'm too lazy to deal with customs and mysteriously disappearing packages thousands of miles away.

I'm trying to keep this as simple and secure as possible to minimize risk for both parties. I will accept BTC payments, but the amount must first be agreed upon before doing business. I would prefer to do business on Paypal however.

Thanks for looking.

Looks like eBay is finally deciding to unclench it's cheeks a little. Hopefully PP will do the same...and be smart about it, which is asking a lot. Seems like BTC is following the inevitable conclusion of being required to have a physical form. Dunno if it'll ever be fully trusted if it doesn't.

I agree with most of what you said, but I have to disagree with using Paypal altogether. The best, most secure way to sell BTC on eBay is through the Virtual Currency category (will make you kosher on eBay terms), but you need to setup a bank transfer instead of using PP.

I spoke with the PP claims department yesterday regarding an immediate refund of $150 to one of my buyers. He informed me that it doesn't matter what form you attempt to sell BTC in (paper wallets, pennies, even wallets on USB sticks), they will not protect you. The reason for this is that the buyer can simply claim they did not receive what was promised (an empty wallet or envelope), even with shipping confirmation. Do you really want to rely on Paypal judgement at that point? At least with bank transfers, you're not running the risk of some pillock thieving your coins with a few simple lies.

Of course, this essentially makes you no better than any other pain in the ass method of getting BTC out there, but at least you're protected this way. The only risk I can think of is dealing with a stolen bank account. Even then, the chances of getting burned are still far less than dealing with PP...and even less if you deal in smaller amounts.

Yeah, it's a confirmed scam. My Canadian friend lives just down the road and checked it out. He said there was nothing there but a computer shop. No factory, no Axon Labs, no legitimacy.

I need to buy 4.65 BTC asap. We can go through http://btcrow.com/ and complete the transaction. I pay in cash through popmoney email transfer. Experience preferred.

I guess I'll just try and sort it out for myself. I doubt anyone here is going to be willing to do this thanks to the random Albanian-Zimbabwean defaulters over the years. There are other less risky machines I can invest in I guess.

Thanks to all who remotely considered it, if any.