Cheated by BC-Casino and Mt.Gox

[QuickbeamX]

I am relatively new to the bitcoin scene and can only post here in the newbie section, so I thought I might see if anyone has some advice for me. But before I explain my dilemma, let me share a little of my experience with bitcoin so far. I first heard about bitcoin a year ago and was intrigued, at the time 1 BTC was less than $10 USD I think. So when I started hearing about its value explosion I was obviously upset that I had not invested sooner. So I resolved to get me some bitcoins!

When I started looking to buy, BTC was worth about $130 USD so I figured I would wait to see if the price came down to something more reasonable. I started the process of funding a Mt.Gox account (because it seemed like the most popular choice). I had the funds ready and was ready to buy right about when the bubble popped and the price came down to $60 USD. I was surprised to learn that Mt.Gox had frozen trading, but was ready to jump on the train as soon as it opened back up. I was at work at the time and was forced to try buying with my phone. So after having three market orders fail for whatever reason and the price rapidly climbing past $100, I decided to give it up until I got home. Anyways, I ended up buying about 10 BTC at about $100 USD each. Not a huge investment, just enough to get my feet wet. Now here is my problem.

I decided to gamble with 1 BTC through BC-casino.com but after depositing and exploring their site with some 'play money' I decided I didn't really like their layout. So I withdrew my 1 BTC back to my Mt.Gox account... or so I thought. BC-casino confirmed the transfer but it never appeared in my account at Mt.Gox. After emailing with both companies (although it took about five days for Mt.Gox to respond to my inquiry... ಠ_ಠ ) Both are basically saying that I am SOL, nobody seems to know where the 1 BTC went... and I feel cheated. Apparently, BC-Casino only refunds to the account that was used to deposit, and according to Mt.Gox, this 'doesn't work with their system'. Basically I am out ~$92 (as of now).

Now, I am not the most tech savvy user, if you couldn't already tell. Still, I feel like this is a pretty bad start for a fledgling currency that will hopefully have more investors like myself. Any advice?

[wetwood]

What really should happen in that case, the 2 company's or SITES should talk to each other and find your digital trail.
Depositing/Removing. see that its vanished into the either and reimburse you the Digital Currency! you've not really been cheated just incompatiable systems. Id probably contact Mt.Gox as its there system that has failed(Or No Functionality) causing you to lose the 1BTC.

again these sites should really have a function or api so when you try and do what u done, it bounces back and doesnt send the BTC.

[QuickbeamX]

Thanks for the response. In my last reply, I have asked both sites to work together to resolve the issue, if not for my lost bitcoin, at least so it doesn't happen again.

I will make sure to update this post with their responses and hopefully delete it if everything goes well. 

[BitCoinHarlemite]

OMG! I am so sorry that happened to you. It is probably a huge miscommunication between Mt.Gox, and the other site.

I am praying that it is only that.

Please keep us posted.

BTCHarlemite

[QuickbeamX]

Well, it appears I have been screwed. I never considered that I would have any bitcoins stolen from me when I started this endeavor. BC-Casino and Mt.Gox both basically keep saying, "Sorry, not our problem". Although BC-Casino seems a little more genuine about their "sorry" for what that's worth. So I regret to inform everyone here that I will no longer be supporting the bitcoin as an investment. I realize that I should have gone in with more technical knowledge about this and had an personal independent wallet, but alas hindsight is 20/20.

Like I said I didn't really think that I would basically be cheated out of my money given the size of the bitcoin community, but it still happened. Sure it may have just been 'incompatible' systems as one user pointed out above, but it doesn't change the facts. So I bid this community adieu and hope that bitcoin does eventually become a real, reliable currency despite the behavior of it's largest trading platform.

[lance4681]

Damn mtGox.

I really hope you don't leave forever, consider reading a bit more and reinvesting an amount you feel comfortable with; the bitcoin network is reliable so I'd ask mtGox a few more questions.

[mxc0bbn]

This is really a bad experience and based on everything you're telling me it seems more like the BTC just dissapeared into the ether rather than someone taking it, but for future reference, I would sell the BTC (if there's a profit margin) and gamble with a more conventional currency (USD)

Although I do think in my inexperienced opinion that BTC will eventually thrive, these are some of the kinks they gotta work out and it sounds like, unfortunately, you became one of the first guinea pigs.

Sorry man...it sucks to lose a C-note no matter how rich you are.


Mike

[tysat]

What address did you withdraw your bitcoin to?  Was it your MtGox deposit address?

[drakahn]

MtGox is an exchange, not a wallet
bc-casino states

- The withdrawal will be processed immediately upon request and will use your last depositing Bitcoin Address for the transfer back to your account.

Since mtgox is not a wallet, you did not have control over the sending address
Since the sending address could have been someone else's deposit address mtgox probably cannot do anything to help you

Your coins were not stolen, you gave them to someone else through a mistake, It is a shame but not a theft

I doubt there is much to do to reclaim your coin, short of the person that received it coming forward

[tysat]

MtGox is an exchange, not a wallet
bc-casino states

- The withdrawal will be processed immediately upon request and will use your last depositing Bitcoin Address for the transfer back to your account.

Since mtgox is not a wallet, you did not have control over the sending address
Since the sending address could have been someone else's deposit address mtgox probably cannot do anything to help you

Your coins were not stolen, you gave them to someone else through a mistake, It is a shame but not a theft

I doubt there is much to do to reclaim your coin, short of the person that received it coming forward

@OP

Sounds like you messed up, you should research before doing anything with BTC instead of going ahead and then complaining when it doesn't work.  Sad to say but you're probably SOL, it's not MtGox's responsibility to fix your mistake.

[QuickbeamX]

MtGox is an exchange, not a wallet
bc-casino states

- The withdrawal will be processed immediately upon request and will use your last depositing Bitcoin Address for the transfer back to your account.

Since mtgox is not a wallet, you did not have control over the sending address
Since the sending address could have been someone else's deposit address mtgox probably cannot do anything to help you

Your coins were not stolen, you gave them to someone else through a mistake, It is a shame but not a theft

I doubt there is much to do to reclaim your coin, short of the person that received it coming forward

@OP

Sounds like you messed up, you should research before doing anything with BTC instead of going ahead and then complaining when it doesn't work.  Sad to say but you're probably SOL, it's not MtGox's responsibility to fix your mistake.

You're right, of course. I should have learned more before attempting to invest and make simple transactions. However, basic protections against mistakes like this are the kinds of things that the bitcoin community needs in order to become a legitimate currency. I freely admit my mistake to the tune  of $145 and I am just happy it wasn't more than that! I am sure that I am probably not the first person to make this error, nor will I be the last. Too bad, so sad.