I just won an auction for a Avalon Batch #2 ASIC Miner on bitmit.net for roughly 150 bitcoins.
That's A LOT of money (over $17,000) and so I'm wary about sending that many coins off into the internet possible never to be seen again.
I know plenty of people have used bitmit before but the site seems so... overly simple, maybe? Like there is no way, as far as I can tell, to see what you currently have been bidding on when you use it. You have to search and hope you find the item again.
The auction I won said "escrow: yes" in the description so I am assuming it is using escrow. So, I went to the "My Orders" tab, clicked on the item I ordered and after filling in my address and contact info, I'm taken to the order page where there is a big yellow box with the address I'm supposed to send the coins too. It just seems a little sketchy, especially since this seller is not in the US (he is in Croatia). How do I know that it is actually a bitmit escrow address and not the sellers wallet? Bitmit doesn't seem to have any links for disputing the escrow if it doesn't work out. Their FAQ is very sparse too, there are no details how long I have to wait until I can dispute the escrow if Avalon never ships. Is it safe to trust bitmit escrow?
In the meantime I've asked the seller to provide proof that he actually has an Avalon Batch #2 ASIC Miner on pre-order.
Would you do it if you were me? Thanks.
I've never had any probs in about 50 transactions there but I would be very careful for that amount of money. I've sold there and escrow is escrow and not the seller's wallet. What have you bought? the ASIC or the seller's rights to the ASIC? This determines who bears the loss should Avalon fails to deliver.