Hi Adam-

Thank you for processing the refund. I consider this matter resolved, and will mark my original post as such. I'm not happy that it took this much time and effort to make it happen, but I at least no longer feel cheated.

Yeah, I was hopeful that things were actually going to get taken care of at that point. In retrospect, there are a few red flags there; he was shifting blame onto others and seeking sympathy for his situation in order to placate me. Sometimes shit does happen, but if I'd looked into the other reports at the time I would've realized that he's either unable or unwilling to put in the work required to make his business run smoothly.

EDIT: After I made this post, I did get a refund from Adam. See the other replies in the thread. I'm now marking this as resolved.

Adam B. Dada runs 7bucktees.com, and ran the now-defunct coinsmiths.com. On July 5th, 2014 I ordered a wooden "Bitcoin Accepted Here" sign from CoinSmiths. It was $10, plus $3.45 shipping, which I paid via Bitcoin. Not a huge amount of money, but I feel that this is still worth warning others about.

By July 29th (24 days later), my order hadn't even shipped. The "from" address on my email receipt was adam.dada@gmail.com, so I responded to it:


The response was surprisingly prompt:


Me:


Adam:


Me:



Adam:



My ticket on 7bucktees:


Me to Adam via email:


Adam posts a comment on the ticket:


Adam via email again:


Me:


I don't know if he took that as a cue that I'm safe to ignore or what, but all of my communication attempts after this point have gone unanswered.

On September 17th (50 days after my conversation with Adam, 74 days since my original order), I posted a comment on the support ticket:


No response. On September 24th (7 days later, 81 days since the order), I try emailing Adam:


Still nothing. On September 30th (6 more days, total of 87 days), hoping to get the attention of the support staff, I open another ticket on 7bucktees:


I also sent an email to Adam directly:


No response to those either. It's October 10th as I'm writing this up, 10 days since my last communication attempt, and a grand total of 97 days since I ordered the sign. I have not received the product that I ordered and I have not received a refund. I have not gotten any response from Adam Dada or from anyone working for him since July.

It looks like this isn't just an isolated incident either:

• bitcointalk.com: Accusation against A.B. Dada/CoinSmiths/7buckTees
• reddit.com/r/bitcoin: Do not use 7bucktees.com. They accept bitcoins but are known to take peoples money and run.
• ripoffreport.com: 7 Buck Tees 7bucktees 7buck tees.com 7 Buck Tees by A.B. Dada BooshWorks, Inc Got ripped off by this company. Go somewhere else!! Chicago Illinios
• ripoffreport.com: 7 Buck Tees - Adam Dada - Booshworks Did not send ordered items. Did not reply to e-mail. Chicago Internet
• ripoffreport.com: Adam Dada, A B Dada, 7bucktees Did not send item I paid for even after 6 months of continuous requests Internet

According to the Reddit thread, some people apparently do receive their orders. I'm not sure if this is an intentional selective scam on Adam's part, if he's just incompetent, or if he's simply too lazy and indifferent to make sure that his customers receive the products that they pay for. In any case, beware of any business that he's involved with.

Can you tell us more about yourself? Real name, location, picture, etc? Can you give specific examples of what kinds of things you invest in that would justify 30% yearly interest on bitcoin deposits (which already appreciate at a fairly ridiculous rate on their own)?

Allowing lenders to sell their current loans to other lenders would be a nice feature, in case you need to use money that your currently have lent out.

Why would anyone be angry at them for that? It's sound advice for any investment.

This issue was brought up back when Solidcoin was first created. If I'm remembering correctly, it was the first to address the issue of chain-hoppers pumping up difficulty and then leaving.

Changing Bitcoin's rules to address this kind of attack would be of marginal benefit at best. If the attacker has enough hash power to pump the difficulty up to problematic levels, they also have enough to just perform a 51% attack. If they don't have enough for a 51% attack, then at worst we'd just have to deal with 20-minute blocks for four weeks.

Have you considered increasing your fees if your speed stays higher than your target?

The little pieces of each bitcoin are referred to as "satoshis". There are 100 million satoshis per bitcoin, so up to about 2.1 quadrillion satoshis can exist.

When people talk about "buying a bitcoin", they're just using that as shorthand for "buying 100 million satoshis". People don't usually actually trade whole numbers of bitcoins. For example, today I sent 1.12952196 BTC (or 112,952,196 satoshis) from my MtGox account to my Electrum wallet.

Other shorthand labels that people use include:

• Bitcent - 0.01 BTC, or 1 million satoshis
• Millibitcoin (mBTC) - 0.001 BTC, or 100 thousand satoshis
• Microbitcoin (uBTC) - 0.000001 BTC, or 100 satoshis

In general, people will use whichever labels they find convenient.

Is it just me, or does auto-lend have a tendency to get stuck?

I ended up with an item in my outstanding offers list equal to my full balance, which said "partially filled xxxxxx at vir, partially filled yyyyyy at vir, partially filled zzzzzz at vir". It was there for a couple days, during which time no one borrowed from me. Today I canceled it (without turning off auto-lend), and a little while later people are borrowing from me again.

On a throwaway account?

How does the loan offer/demand matching algorithm work?

Currently I see 13 VIR BTC loans, totaling 986.79 BTC. They're listed as having a maximum lending time of 0 days. Does that mean there's no limit on the lending time, or is the lending time of VIR loan offers just hidden?

I assume that if I offer a loan with a longer maximum lending time than another offer at the same interest rate, my offer will be taken first? What if both offers have the same max time?

You're reading them incorrectly. Percentage per week vs percentage per year. 8.9% per year is about 0.17% per week.

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Right now it'd cost somewhere around $20,000 to buy a botnet capable of performing 51% attacks against the Litecoin network.

However, you could make $200,000 from ripping off BTC-E's LTC/BTC buy orders alone.

What about Dwolla deposits? I currently have a recurring transfer set to send money to Mutum Sigillum twice a month. Should I suspend this before the CoinLab transition, to make sure my money doesn't end up in limbo?

It isn't.  Unfortunately FireGPG is no longer maintained, and doesn't work in newer versions of Firefox.  I'm not aware of any comparable replacements.

I'm running a promotion for new clients, 50% off on the first 10 hours of work.

It probably won't ever be released, since being able to analyze the coding style would make it easier to track down "Tom Williams".  After the internet detective stuff that's already happened, they're not going to want to provide any more resources to their pursuers.

For the time being I'm only looking for projects that pay on delivery.


Been busy with holiday stuff, just replied.