Endless scams and elaborate stories here about sold and bought accounts, sob tales to convince lenders to lend thousands without collateral. The same pattern repeats itself on an almost daily basis.

Some might find these scam attempts annoying, others see them as entertaining. For me there is an educational element in them. They teach one to be much more cautious and less negligent when interacting with strangers. I used to be too trusting but bitcoin gave me an entirely new and fresh understanding of the criminal mind. I used to only see the good in everyone but I now know better than to naively think thieves only strike in darkness. They are with us 24/7/365.

Strangely, I have to say scammers deserve my thanks for this learning curve.

That very second when their site goes online again, take your coins out and store it in a wallet with private keys you and you alone control, know and have access to.

An exchange which makes their customers suffer sleepless nights, stomach ulcers and lose their minds worrying about the uncertainty of their assets is an exchange to avoid like the plague.

Yes, it's not good to keep or store coins long term in an exchange and yes it's sometimes necessary to have coins in an exchange account for trading.. I realize and accept this. But what good is it to have coins in an exchange account which often shuts down their trading platform or goes offline?

Might wanna try editing your first post and mentioning escrow terms? That would immensely help people decide whether or not you are a scammer.

If your goal is to ask a buyer to send coins first without escrow, then that's suspicious.



Offering to ship with signature confirmation and owning an electronics store (red flag by the way!) are no guarantee for the the buyer's safety. Escrow guarantees that level of protection.

Owning an electronics store but selling just this one phone here... why would you sell specifically just that phone here? Electronics store operators normally offer more than just a phone. It's a red flag because there are countless scammers on Facebook groups and Craigslist offering phones and laptops and pretending to be legit (by saying they have an electronics store). It's the "store factor" which they use to charge money upfront. (because stores or shops do such a thing)

You forgot to mention escrow terms. Trades here are best done with escrow protection. By that I mean no bitcoins are sent to you before you ship the iMac. The coins are held and kept by a trusted escrow here until the iMac reaches the buyer. If you ship a real working iMac and not rocks or trash, then the buyer instructs escrow to release the coins to you.

Now after reading what I wrote above, do you still want to sell this iMac? Or were you hoping someone might send you the coins first and then you ship the computer later? (which is what slow thinking naive newbies might do if they don't think carefully of the consequences of not using escrow)

If you genuinely have bitcoins for sale, be aware of the risks when accepting PayPal as payment method. It is reversible up to 180 days. Scammers exploit this generous time window to dispute or request a chargeback days, weeks or even months later.

You should also know that escrow cannot protect you if you take PayPal payments. That's because the risk of payment being reversed later defeats the core purpose of using escrow which is to protect both seller and buyer from scamming each other.

If you posted this with a faint hope of perhaps convincing people here to send you PayPal first (coins to follow later) none of the trusted traders here will do such a thing.

PayPal is best avoided when trading bitcoins, especially if the trade is between new members here. Scams are rife when PayPal is involved.

Everybody is interested, yes, if you can clearly explain the escrow procedure here and not on Telegram. Explain the process and, most importantly, give details about the trusted escrow here who will will hold the bitcoins

To start, perhaps a signed address showing you do have those bitcoins will help potential buyers believe you really have what you say you have, despite your already painted account and all the red flags.

No Telegram chats. Explain the escrow process right here and nowhere else.

0.07 BTC and a Chinese law firm was engaged to draw up a legal memo and paperwork? These are truly hard times.

What about that law firm’s fees? An untenable arrangement for 0.07 BTC.


As for using this transaction as a reference loan in the future, I doubt lenders here will consider it as a deciding factor. For one, the transaction was one between two relatively young accounts (which might lead one to think it was an “arranged loan” for the purpose of farming trust). And it’s an unsecured or uncollateralled loan which doesn’t show how you handle loans on the strength of something pledged to secure it.

If you are hoping to use this example as a way to encourage lenders to grant you future loans using the same kind of elaborate arrangement (the law firm story) it won’t work. It’s all about providing valid collateral here.

It’s impossible to borrow coins here, let alone the immense amount you suggested, using passports and ID alone to secure the loan. You will need to provide far more solid assurances in the form of collateral which must be appraised first by the lender. The collateral’s value should exceed the loan amount by a margin of about 20 or more % which effectively means, as a minimum, 1.2 x the amount you want to borrow.

If you intend to pledge a car to guarantee the loan, then as mentioned above, a local lender would be the best and only way forward. This is because lenders or a trusted escrow keep the collateral until you repay the loan.

What should you do? STOP sending coins to Yobit! That's what you should do. The reason for the immense losses suffered by many here is because they continue to blindly trust in Yobit despite the endless scam accusations and complaints.

I can't understand why this trust is strong and not even slightly eroded. Their extent of scamming is for all to see here, exposed and even negged so red that it can't get any redder. Yobit's people are just sitting back, having cup after cup of cafe latte, watching their hot wallets grow fat with coins.

Simply google-search "yobit scam", then think again. Stop sending coins to this exchange. That's what everyone should do.   

What should you do? Use your brains and STOP pumping money into this exchange! Stop trading and storing anything on this garbage exchange!

The reason Yobit continues to exist, thrive and scam is because some people make it easy for them to do it. A whole community of naive sheep blindly sending coins to Yobit's hot wallets, believing in this exchange despite all the red flags fluttering wildly before their very eyes!

Did you bother to search something along the lines of "yobit scam"... or perhaps even read the countless complaints here and on websites like this:

https://www.cryptocompare.com/exchanges/yobit/reviews/USD

before sending money to this exchange?

When you send coins or money to an exchange like Yobit, be prepared to treat the transaction as a donation.

OP, be careful of people who PM you offering their help. If you do get PMs, never ever disclose, share or divulge (even partially) sensitive information about the wallet, especially the mnemonic which might be used to extract the private keys.

If someone does know a solid and definitive solution and offers it to OP, a good and safe way to proceed is for coins worth the contents of the wallet to be escrowed and held by a trusted member here and only then should OP disclose the wallet details. I know of no other safe way for strangers to help each other.

Publicly posted advice is another good way of helping others here. That advice can then be vetted by other members and checked if it works or not.

Remember to use escrow, guys. Protect yourselves, whether you're the buyer or the seller. Never send anything (goods or coins) upfront to strangers. Transactions between strangers are best settled with a middle man.

Never rely on screen shots, pics of goods or promises to pay or send anything sworn on anyone's grave. Just because someone has a pic or screen shot of something doesn't mean he will send or pay as promised.

Just helping out with advice you can't buy anywhere.

If you trade with an untrusted service without escrow, be prepared to risk losing money or coins. Sending money upfront without escrow protection is almost similar to donating that money. Do your due diligence and weigh the risks. Even after the warning signs and red flags are clear and obvious and yet you still prefer to take the risk, do so with only an amount you can afford losing and not your entire coins or life savings. There are stories here of people complaining about losing coins worth tens and even hundreds of thousands of $. Makes for very painful reading. Not sure why they blindly trust strangers despite Google searches and reviews from other victims clearly and glaringly telling them it's a scam.

Please use escrow. Scammers hate it because it makes stealing extremely difficult to do.

Shameful and sad to see members buy and destroy accounts for a mere $50. PHP 2500 is almost nothing. You can't survive with that amount in the Philippines, let alone in Manila. But this is what desperate people do. They will scam and steal a few dollars because they convert to a week's or even a month's wage in their country. As Filipinos say, it's truly nakakahiya.

This is a solid lesson on the dangers of trusting other people here on the basis of their rank alone. Never do such a thing. Ranked accounts are bought and sold like goods these days. The main motive is an ulterior one... to scam, steal, defraud. To jump from newbie to senior member or hero member and cheat signature campaigns.

It's because of scams like this that escrow has become even more important when doing trades here. Always use escrow when dealing with strangers.

I hope you will soon introduce a new card product. I used the Wave Crest Visa card for about a year, followed by the short-lived C.Pay cards which you discontinued a few days after I received the USD and a EUR cards.

If you will release new cards, please let everyone know. My Cryptopay app is still on my phone waiting to be loaded with coins.

For now, I’m using the Mistertango MasterCard but the one issue with this card is the annual ATM transaction limit of EUR 20,000 which is a bit low for me.

You got the procedure worked up totally wrong. Let me explain how it’s supposed to be done correctly and honestly:

1. Seller (you) and buyer engage a trusted escrow on this site.
2. When escrow is ready and agrees to act as middle man, buyer sends him the coins.
3. Escrow confirms coins are in his control and advises you to ship the phone.
4. Buyer receives the phone and if all is well (not a dud or fake phone... not sim-locked... phone as described on your post above... you shipped an actual functioning phone and not rocks or cat poo) he then instructs escrow to release the coins to you.

Forget Skype and tracking numbers given after 2 business days of cleared payment... those are a scammer’s typical way of trading.

The scammer guy angry for being exposed again and again.

On the one hand, he posts garbage admonishing other members for buying from random people here:

https://bitcointalk.org/index.php?topic=913485.msg27004598#msg27004598

Because of course he wants them to buy from his scam exchange WITHOUT ESCROW:

https://bitcointalk.org/index.php?topic=2584911.msg26996122#msg26996122

One false move and it’s a red trust. I can be quite stubborn in stalking and pursuing scammers, mind you. Then you can be sure victims will be forewarned as early as possible before making any disastrous transaction on your shady website.

As mentioned by another poster above, it’s 200 Euros without fees but you can withdraw much more and will be charged the usual fees imposed on other cards. It’s a clever attempt to encourage card holders to use the card more often in the retail environment (for shopping, POS-based payments etc) rather than cash withdrawals. Limiting the no-fee threshold to 200 Euros will probably urge the fee-conscious card holder to withdraw no more than that much cash and use the card to pay in stores and shops instead. Excessive cash withdrawals are treated as suspicious by just about any card provider on this planet.

You can of course withdraw much more than 200 EUR but it might not be a good idea to withdraw thousands daily. This will trigger alarm bells.

This all looks very nice and impressive but I’m left wondering how or why funding worth a mere $10,000 would be needed by someone with a clinic based on the prestigious and world famous Harley Street in London, UK, where many of his patients include Royalty, Foreign Dignitaries, and Famous Stars.

No disrespect meant for someone holding such impressive medical credentials and not wanting to present myself as being excessively presumptuous but I imagine it would be quite easy for a Consultant in Family Medicine to obtain a loan or overdraft of USD 10k from any high street bank in the UK.

I believe the offered collateral might not be considered a valid one as lenders tend to prefer established altcoins with an independent market value and not one controlled by the borrower. They also require collateral be transferred to them and held by them until the loan is repaid.

Not sure if you will find anyone adventurous enough to accept this collateral as obviously there is always that ever-present risk of an ICO potentially failing to advance successfully, thus endangering the collateral itself.