I have repeatedly asked them specifics, like quoting the actual policy change and they wont give me specifics. I have told them that I feel violated for not even been given the exact reason nor even the opportunity to come into compliance with their "recent policy change." All they do is avoid the answering the questions. Not going to waste my time with them. I already had a site review with them once before and they approved of my site, for 2 years. My best guess as to what they have an issue with is that I pay affiliates on 6 levels. Paypal made it a "policy" to not accept mlm way back in their beginning. True mlm is not illegal but PayPal got tired of being the mlm police so they just cut out all mlm. My best guess is Coinbase followed suit. Still pretty damn harsh to just completely close an account without warning nor an opportunity to comply. I can justify closing an account without warning if someone is involved in something illegal, but that certainly was not my case.

They were not specific. I have one site that uses Coinbase. They flagged my account one time before for review and wanted to know what my site did. My site is an affiliate based site, not a HYIP, not a ponzi, not a matrix; a fully legal site. They fully approved my site. I ran it for 2 years until they closed my account.

They original reason was:

I pushed them for a better answer and got this:

So what this all comes down to is this... They make a policy change and then they completely close your account if your site no longer fits into their policy. No notification of policy change, no warning, not even an opportunity to come into compliance with the new policy change.

Really sucks having the entire account closed down because I live in one of the states that can use the Coinbase Exchange to buy and sell in real time. Even that is now gone.

I have used Coinbase as a processor for one of my sites for a couple years. My site is nothing illegal but that is beside the point. My Coinbase account was closed today with no specific reason given. So now where do I go for easy btc payment processing?

Ok, time for an overdue update regarding MW.

I am 100% self-employed for 5 years now, having several sites that take care of me. I have learned over the years to not take certain matters public. However, I have also learned that taking certain matters public when all other measures appear to have been exhausted or rendered useless usually gets the results I am looking for. So...

I began back in Sept, 2014, to create a custom faucet to compliment a bitcoin only site I created. In that month, I deposited .1 btc to my api account. I was making a truly unique faucet and had also been following this thread long before I decided to create my custom faucet. I even had personal contact, through this forum, with the owner where I had discussed with him about his expectations to be included LOB. He was very quick to respond to me, back then, and with great detail.

Here is the .1 btc transaction on the blockchain that I sent to MW.
https://blockchain.info/tx/70abe8fab6a7d17a0e44e36e263e2c1fd2aabfb00e4538c91f4ed598f27c87ce

As I was working on my custom faucet, I continued to follow this thread. My business partner and I were once very active participants in LOB and had both collectively built large downlines in the hundreds. There was never any bad blood between us and him, never a reason why there would be.

As time progressed, my partner stated to me, as confirmed here at this forum by many others, payments were slowing down from MW and even appeared to come to a complete stop at one point in time. That left me concerned about the faucet I was creating because if service was falling off or failing I could not in any way promote the service to the 60,000+ member list I have, in good conscience. I delayed the launch of the custom faucet I was creating. In Dec, 2014, I made the decision to not continue with my custom faucet that would be using MW.

In my api account, on or about Dec 1st, 2014, I changed the payout limit so that my funds would be returned to me. 10 days later, I posted here to to make note that I had not received my payment. I did write to the owner after a few days of waiting. I had always received payment from MW within 48 hours at most. But not this time.

8 weeks later, after having already sent a follow up message to him, I finally received an email from him. This was 3 days ago.


I replied immediately to confirm.

3 days later I still have yet to see a payment and my balance in my api account is still .1 btc.

It has been over 2 months now that I have been waiting to get my btc back from him. I have been absolutely nothing but professional with him in my correspondence, in the past.

So, this is why I am now bringing out my laundry for everyone to see. Maybe, just maybe, I will get my btc returned to me now.

If I get my btc returned to me in the next 24 to 48 hours, I will delete this post. Otherwise, it will be here as long as it needs to be.

Yes, the owner is absent, nowhere to be found.

My suggestion is to forget about it and move on.

Well it's their fee, or sit and wait in lala land for MW to even respond. I am still waiting on .1 BTC from him.

Yeah, that's where I am moving to.

FYI, I've been waiting on .1 btc for about 10 days now from MW. Sent an email 3 days ago to ask when I will get it, no response yet.

I was creating a custom faucet, then saw all this drama going to down. I needed to get my faucet up because it is integral to one of my sites. I was integrating a downline builder for LOB as well. I CANNOT be sending my 27,000+ members into what MW and LOB have become. I have a reputation to uphold.

I am extremely disappointed in what has become of MW.

Bottom line, if you are looking to start something with MW, forget about it. The backend scripts at MW are obviously not automated to send payments out, as we were all lead to believe, and the owner has become completely absent.

Yes I can see this happening as well. But could it be part of the plan, where the best stands out and the others fade out?

At the same time, having 2 or 3 microclones also makes it impossible for any one of them to monetize if they wanted to, unless they all got together and agreed to do the same thing with the same prices. It is impossible for any single person to monetize because once one adds monetisation, users will go the site that provides them the best bottom line.

So my point is, good luck for anyone who is interested in obtaining the scripts with the idea of monetizing it. It won't work. It will only push users away.

This leads back to the question of how much time/maintenance is required for something that will not be able to be monetized?

My concern as a potential buyer of the scripts was exactly that, how much time/maintenance is involved. I asked that of Land Of Bitcoin and he said he would be putting up an FAQ that would answer my questions. It is not up yet.

I am all about solid automation, the more the better. Personally I wont buy the scripts if it requires too much of my time, even if I can monetize it.

That log, putting the argument to the side, was very informative to me because I have been wanting to create a faucet for a few months now. I was very close to getting one setup but have not seen anywhere as to what kind of cost can actually be involved, which left me uncomfortable jumping into unknown territory.

So, I will ask here.

What can I expect to be paying out per day if my faucet is listed on LOB and I am dispensing 100 satoshi per hour through microwallet?

If listed on LOB how many 24 hour uniques and total visits can be expected on an average day from LOB?

How much of a problem is bot traffic? I expect there must be some. How much?

Those are 3 concerns I have before jumping in. I always need to know what I am getting into before I begin.

Another concern I have is the situation with microwallet. My understanding is that microwallet itself will go away as the service we know it to be right now and 2 to 3 other individuals will acquire the scripts to run more microwallet type sites. My concern is based upon what my current timeline was before hearing of this. I have membership sites with a combined membership of over 80,000 people. The plan was to create a faucet to help promote my sites. I also planned on making a blog post on how to use microwallet and refer my members to LOB. That vast majority of my members, internet marketers of varying degrees, have yet to cross the bridge into BTC, which is what I am trying to do, create that bridge.

I became concerned and had to temporarily stop my plans because of not knowing what kind of time the microwallet situation is going to take to transition. If it is something that will be taking place in the next 1 to 2 weeks, I would easily wait until the transition takes place before I continue with my plans. I just dont want to start an education campaign, introduce people to microwallet and then after I get my members into using faucets and microwallet, have them in a situation where they have to change from microwallet to another microsite. It is all to common that when someone starts using a brand new site to the them, and then that site closes or announces it is closing its doors, they run away. And that would also hurt my trust level that my own members have with me. So, what is the estimated timeframe of this transition? Has a plan already been laid out to make the transition as easy as possible for those who use microwallet?

Something else I just thought of... If microwallet is going to become 2 or 3 other sites isn't that going to frustrate and potentially turn off a lot of microwallet users? After the transition it will then take them 2 to 3 times as much time to reach the minimums because all the faucet owners will not likely all switch to the same microsite, they will all spread out.

Hi Land Of Bitcoin. A partner of mine just informed me of this thread. I would like to make an offer but first I have some questions. I will private message you.