Bitmit is Closing??

[allthingsluxury]

Bitmit appears to be shutting down due to upcoming law changes. This is really unfortunate, as I was really liking this service. It was a great alternate place to list my products and I actually made quite a few sales on there. Not sure exactly what happened but this is the message that I just received when I tried to login to my bitmit account:

"Bitmit closes
Dear valued Bitmit user,
Unfortunately we have to shut down Bitmit because of upcoming law regulations in our country. Our server is going to be turned off in about four weeks. Please complete your orders and withdraw all your Bitcoins within that timeframe.

We are very sorry for that We really enjoyed the collaboration with this awesome Bitcoin community! :*

Thank you so much for your support!

Your Bitmit Team



If you like you can spend us a goodbye beer :/ 1EP2w3vVAwTCK2xptWYAvBsM982sqaDz9w - Thank you! "

You can also see it for yourself here:

https://www.bitmit.net/en/

What country are they located in that this would cause an issue? Are they being strong armed?



P.S: for any of you who have bought from us on bitmit and have any questions or concerns, you can reach us here:

http://www.allthingsluxury.biz/Contact-Us-2.html

[1715175515]

1715175515

[1715175515]

1715175515

[1715175515]

1715175515

[SaltySpitoon]

Awww, that blows

[WikileaksDude]

Why doesn't the owner sell the website to someone willing to run it. IMO there is a shitload of ppl capable of running the site.

This way its a win win.

[Maidak]

Yeah that really does suck I checked the contact us page. https://www.bitmit.net/en/info/contact

Flat B20/F, Infotech Center No.21 Hung To Road Kwun Tong, Kowloon Hong Kong

[Arto]

Why doesn't the owner sell the website to someone willing to run it. IMO there is a shitload of ppl capable of running the site.

This way its a win win.

http://www.reddit.com/r/Bitcoin/comments/11ep6x/bitmit_4_sale_investors/

[allthingsluxury]

I know this is horrible. I would also really like to see them sell it off. Of course I know there might still be some lingering legal issues if they do this. Someone needs to start up an alternative site. I was seeing HUGE potential there.

[WikileaksDude]

I know this is horrible. I would also really like to see them sell it off. Of course I know there might still be some lingering legal issues if they do this. Someone needs to start up an alternative site. I was seeing HUGE potential there.

HUGE?

It was going to be amazon on steroids. A flawless auction/sales bussiness.

[justusranvier]

Someone needs to start up an alternative site.

I think it's called Silk Road.

[nomnomnom]

God damnit. Not bitmit 
I hope someone buys it and takes over or something,

[tosaki]

Sadly this is true.. If someone is interested in buying the site feel free to contact us (support@bitmit.net)

[Arto]

Sadly this is true.. If someone is interested in buying the site feel free to contact us (support@bitmit.net)

Any details on what new regulations are motivating the closure, pretty please?

[tosaki]

Sadly this is true.. If someone is interested in buying the site feel free to contact us (support@bitmit.net)

Any details on what new regulations are motivating the closure, pretty please?

Financial supervision requires special licences for businesses which holds customer funds

[FreeMoney]

Sadly this is true.. If someone is interested in buying the site feel free to contact us (support@bitmit.net)

Any details on what new regulations are motivating the closure, pretty please?

Financial supervision requires special licences for businesses which holds customer funds

So it is only the escrow part you worry about? What about finding a few trusted escrow services and simply recommending those?

[greyhawk]

Sadly this is true.. If someone is interested in buying the site feel free to contact us (support@bitmit.net)

Any details on what new regulations are motivating the closure, pretty please?

Financial supervision requires special licences for businesses which holds customer funds

So it is only the escrow part you worry about? What about finding a few trusted escrow services and simply recommending those?

What makes you think there is a single legal escrow service in Bitcoin Country?

[Raoul Duke]

Sadly this is true.. If someone is interested in buying the site feel free to contact us (support@bitmit.net)

Any details on what new regulations are motivating the closure, pretty please?

Financial supervision requires special licences for businesses which holds customer funds

Why is that a problem now when it wasn't before, may I ask?

[nedbert9]

This is upsetting.

[allthingsluxury]

Sadly this is true.. If someone is interested in buying the site feel free to contact us (support@bitmit.net)

Any details on what new regulations are motivating the closure, pretty please?

Financial supervision requires special licences for businesses which holds customer funds

Can't you just go back to a non escrow system, rather than shut the whole thing down. User feedback is typically a very good system for weeding out the corrupt.

[allthingsluxury]

Well bitmit is up for bid now:

https://www.bitmit.net/en/trade/i/8175-bitmit-net/description

[Arto]

Well bitmit is up for bid to buy now:

https://www.bitmit.net/en/trade/i/8175-bitmit-net/description

Very meta

[bitcoinbear]

Shoot, I was just going to list a bunch of stuff there this weekend. I guess I will wait until the situation stabilizes.

[elux]

Well, shit. Tosaki: Are you pursuing other options, or is this, like, final?

[tosaki]

Now it is up 4 sale: https://www.bitmit.net/en/trade/i/8175-bitmit-net

Well, shit. Tosaki: Are you pursuing other options, or is this, like, final?

I would also accept a sale option whereby I get shares of the future Bitmit company and continue with development etc.This may be the best option for all of us.

[bitstarter]

just sucks !

[Bitcoin Oz]

Sorry mate 

I hope it continues under new ownership.

[allthingsluxury]

Sorry mate 

I hope it continues under new ownership.

Definitely looks like there is a lot of interest based on all the bids so far. This is a good sign.

[SteamGamesBTC.com]

Bitmit is part of my life. I'm logged-in there every morning/day/night. Sales through Bitmit are around 80% of all my sales of my Steam games. I think someone will buy it and all will be fine... must be fine! Bitmit have amazing BTCIG potenetial. I just wanna thanks for admin for his amazing friendly support. But I guess, we'll meet all together on Bitmit new edition. :-)

[elux]

Definitely looks like there is a lot of interest based on all the bids so far. This is a good sign.

Well, at the moment I seem to have the highest bid at 100 BTC. (Which is ludicrously low, all things considered.)

Bitmit is The Bitcoin marketplace. At least this side of the law.
Bitmit shall not, must not, will not be allowed to die. Or have we lost all faith in this project already?

Gentlemen, I believe this is the part in which we rise to the occasion.

[allthingsluxury]

Definitely looks like there is a lot of interest based on all the bids so far. This is a good sign.

Well, at the moment I seem to have the highest bid at 100 BTC. (Which is ludicrously low, all things considered.)

Bitmit is The Bitcoin marketplace. At least this side of the law.  
Bitmit shall not, must not, will not be allowed to die. Or have we lost all faith in this project already?

Gentlemen, I believe this is the part in which we rise to the occasion.

Love it. Very well said. I agree bitmit is a vital project. I am doing my part to add to the bitcoin marketplace with All Things Luxury, but my site is more of a niche for jewelry and gifts. Bitmit IS the ebay of bitcoin. A stable trading post I believe is a must for everyday users.

Really happy that so many people are willing to step up and take over the project.

[allthingsluxury]

Bitmit is part of my life. I'm logged-in there every morning/day/night. Sales through Bitmit are around 80% of all my sales of my Steam games. I think someone will buy it and all will be fine... must be fine! Bitmit have amazing BTCIG potenetial. I just wanna thanks for admin for his amazing friendly support. But I guess, we'll meet all together on Bitmit new edition. :-)

I noticed you on there. You do a large amount of successful sales through bitmit. Heres to hoping it stays up.

[Spekulatius]

Bitmit's address:

Flat B20/F, Infotech Center No.21 Hung To Road Kwun Tong, Kowloon Hong Kong

https://www.bitmit.net/en/info/contact

Law and jurisdiction
These terms of service will be governed by and construed in accordance with Hong Kong law, and any disputes relating to these terms of service will be subject to the exclusive jurisdiction of the courts of Hong Kong.

https://www.bitmit.net/en/tos/

[weex]

Well, at the moment I seem to have the highest bid at 100 BTC. (Which is ludicrously low, all things considered.)

I agree it's a huge discount over what tosaki and all the users who have done listings have put into the site. If I weren't running CoinDL, I'd bid more but it's early yet...the auction's been up for <2 hours?

[fornit]

overbid you. very leet bid btw  

edit btw: did anyone notice its with escrow? i mean, how is that gonna work?  deadlock anyone?

[WikileaksDude]

Well, at the moment I seem to have the highest bid at 100 BTC. (Which is ludicrously low, all things considered.)

I agree it's a huge discount over what tosaki and all the users who have done listings have put into the site. If I weren't running CoinDL, I'd bid more but it's early yet...the auction's been up for <2 hours?

GoGo weex !

[Daily Anarchist]

Let this be a lesson to everybody:

If you're going to start a new Bitcoin business, do it on Tor and keep your identity anonymous. Governments all around the world are in the process of locking down the internet. Don't start a huge business on the clearnet, which will just come under attack once it starts to get successful.

[Gladamas]

Let this be a lesson to everybody:

If you're going to start a new Bitcoin business, do it on Tor and keep your identity anonymous. Governments all around the world are in the process of locking down the internet. Don't start a huge business on the clearnet, which will just come under attack once it starts to get successful.

I agree this would be a good idea, considering the closing of GLBSE, etc.

[Bitco]

Hosting a for-sale site is probably okay, but an escrow service that is holding other people's money could give rise to legal liability in a number of countries.

I hope the potential buyers consider this carefully, and discuss it with legal counsel.

[Daily Anarchist]

Hosting a for-sale site is probably okay, but an escrow service that is holding other people's money could give rise to legal liability in a number of countries.

I hope the potential buyers consider this carefully, and discuss it with legal counsel.

Forget legal council. Laws change on a whim if you haven't noticed. Voluntary trade is under attack. We need to quit asking for permission to do business. We can do that on Tor.

[barbarousrelic]

I wish I had more to contribute, but I just want to chip in another voice saying that Bitmit is invaluable to the Bitcoin community and I hope a good businessperson takes over.

I'd buy stock in it if glbse was still running. . .

[justusranvier]

Forget legal council. Laws change on a whim if you haven't noticed. Voluntary trade is under attack. We need to quit asking for permission to do business. We can do that on Tor.

I think Tormail is a good example to follow. They have their main servers hidden somewhere, and the public-facing website at tormail.org is a vps that's running nothing more than a Tor node and a copy of socat.

[Arto]

Forget legal council. Laws change on a whim if you haven't noticed. Voluntary trade is under attack. We need to quit asking for permission to do business. We can do that on Tor.

I think Tormail is a good example to follow. They have their main servers hidden somewhere, and the public-facing website at tormail.org is a vps that's running nothing more than a Tor node and a copy of socat.

+1. This is also now basically the architecture that The Pirate Bay uses:

"All communication with users goes through TPB's load balancer, which is a disk-less server with all the configuration in RAM. The load balancer is not in the same country as the transit-router or the cloud servers," The Pirate Bay told us.

"The communication between the load balancer and the virtual servers is encrypted. So even if a cloud provider found out they're running TPB, they can't look at the content of user traffic or user's IP-addresses.” [...]

The worst case scenario is that The Pirate Bay loses both its transit router and its load balancer. All the important data is backed up externally on VMs that can be re-installed at cloud hosting providers anywhere in the world.

"If the police decide to raid us again there are no servers to take, just a transit router. If they follow the trail to the next country and find the load balancer, there is just a disk-less server there. In case they find out where the cloud provider is, all they can get are encrypted disk-images," The Pirate Bay says.

"They have to be quick about it too, if the servers have been out of communication with the load balancer for 8 hours they automatically shut down. When the servers are booted up, access is only granted to those who have the encryption password," they add.

[Deafboy]

If Bitmit dies, the bit of me dies too. I am considering joining the bid party.

Tip for bitcoin business owners #1 : Save the messages like "Sorry, we're closing. Goodby and thanks for all the fish!" as a last possible choice. Selling the company is actually best way to do it without harming the customers and our small economy as well. Not even mentioning that after GLBSE closing, this message nearly caused me a heart attack. Now I'm going to kitchen, make myself some hot tea and try to calm down.

[kokojie]

bitmit seemed a bit amateurish to me since the start anyway. There are more professional sites like coinpost.com, I think even if bitmit dies, it'd be a non-event, another site will take over.

[inbox]

.

[weex]

bitmit seemed a bit amateurish to me since the start anyway. There are more professional sites like coinpost.com, I think even if bitmit dies, it'd be a non-event, another site will take over.

I agree, very professional with 23 items listed..

Choose 23 things, and do them well. /sorry couldn't help it....this really shouldn't be a pissing contest but I'm sure valuable criticisms of all platforms can be pointed out.

[freecoin]

bummer.  I like bitmit.net

But you know, this could be run lawfully from the US.  The secret is to keep it all outside the Federal Reserve system.  That's how THEY get jurisdiction to control you in the first place - if you endorse private credit of the Federal Reserve then you're subject to the terms of their (hidden) agreement.

[ercolinux]

Damned laws   
I'm looking after buying it, but Italian law is even worse: If I run a site like bitmit in Italy I would be forced to have no other income from different kind of work than intermediation. If is a site that generate 500-1000 BTC/month of income I can maybe try it, but for 40-50BTC/month is not worth it

[ercolinux]

can't they just use tor or something

This put them of law anyway: incomes have to be declared and so on. There are only 3 ways IMHO: move away to a country where is legal run this kind of site, sell it or scorporate the unlaw part of the site and move it to another country.

[420]

It won't let me bid 1,500

https://www.bitmit.net/en/trade/i/8175-bitmit-net/bids

[weex]

Perhaps $1500 or 125 btc is some sort of hard-coded limit. PM tosaki.

[bitcats]

There is still http://www.bitcoinclassifieds.net/

[TheButterZone]

bitmit seemed a bit amateurish to me since the start anyway. There are more professional sites like coinpost.com, I think even if bitmit dies, it'd be a non-event, another site will take over.

I agree, very professional with 23 items listed..

Not even 23. There are some duplicates across different categories, and all but one of the posts are mine. There could be well over 100 if I listed all my stuff for sale, but not everything can be shipped in USPS Priority flat rate boxes, nor the ad entry be as easy as craigslist. LOL

Forced escrow was a site-killer for me on Bitmit. When you already run an Amazon marketplace shop and get paid when you buy/confirm shipping, any escrow hold length more than that is an insult, especially when you aren't a bloody criminal, rather a terrible salesman who is honest about what he sells.

[danster82]

Id like to know what the claim of illegality actually is.

[greyhawk]

overbid you. very leet bid btw  

edit btw: did anyone notice its with escrow? i mean, how is that gonna work?  deadlock anyone?

Are you THE fornit of RoidRechner fame?

[thebaron]

Forced escrow was a site-killer for me on Bitmit. When you already run an Amazon marketplace shop and get paid when you buy/confirm shipping, any escrow hold length more than that is an insult, especially when you aren't a bloody criminal, rather a terrible salesman who is honest about what he sells.

Escrow should be something that's lifted once you meet certain seller performance requirements. Or at least a 50/50 thing (upfront/on delivery).

[fornit]

overbid you. very leet bid btw  

edit btw: did anyone notice its with escrow? i mean, how is that gonna work?  deadlock anyone?

Are you THE fornit of RoidRechner fame?

two minutes ago,i didnt even know what roidrechner was. but since the name is from a stephen king short story it is not that unlikely to have another one out there 

ontopic:
i dont think bitmit will go away. its already picking up pace and will certainly find a buyer that can see the potential and has the resources to guarantee a smooth transition to another legislation. germany is really not the country for financial experiments. way too regulated.

[crazy_rabbit]

Re; Escrow:

At the conference there was a pretty great talk about Scripting in the Bitcoin protocol and how things like Escrow can be embedded into the blockchain, eliminating in many instances the need for 3rd parties. I think it would be nice to see many of the currently disabled (but already existing) scripting features turned on so people can start to think of an even MORE Satoshi Future.

[Isokivi]

Please sell the site, hell I'll even make an offer myself if need be.

[tosaki]

Forced escrow was a site-killer for me on Bitmit. When you already run an Amazon marketplace shop and get paid when you buy/confirm shipping, any escrow hold length more than that is an insult, especially when you aren't a bloody criminal, rather a terrible salesman who is honest about what he sells.

You can deactivate it once you have sold some items.


However,  we may can continue with the help of another partner.

[DublinBrian]

Bitmit should apply for a licence. How much could it cost? Surely not so much. Many businesses like real estate agents, take customer deposits.

[paraipan]

Sadly this is true.. If someone is interested in buying the site feel free to contact us (support@bitmit.net)

Any details on what new regulations are motivating the closure, pretty please?

Financial supervision requires special licences for businesses which holds customer funds

Have you guys checked out gov.hk on MSO?

[gusti]

Sadly this is true.. If someone is interested in buying the site feel free to contact us (support@bitmit.net)

Any details on what new regulations are motivating the closure, pretty please?

Financial supervision requires special licences for businesses which holds customer funds

Have you guys checked out gov.hk on MSO?

From the FAQ :

What is the definition of a Money Service Operator (“MSO”)?
A person who or an institution which operates a money changing service or a remittance service is a Money Service Operator.

Do this apply for a ecommerce site like Bitmit ?

[BCB]

What would you like to see replace Bitmit?

https://bitcointalk.org/index.php?topic=119457.msg1285951#msg1285951

[greyhawk]

Sadly this is true.. If someone is interested in buying the site feel free to contact us (support@bitmit.net)

Any details on what new regulations are motivating the closure, pretty please?

Financial supervision requires special licences for businesses which holds customer funds

Have you guys checked out gov.hk on MSO?

From the FAQ :

What is the definition of a Money Service Operator (“MSO”)?
A person who or an institution which operates a money changing service or a remittance service is a Money Service Operator.

Do this apply for a ecommerce site like Bitmit ?

The escrow part does.

[420]

There is still http://www.bitcoinclassifieds.net/

somebody now compile a list of the competing sites

then we should examine the benefits and detriments of each design

[paraipan]

Sadly this is true.. If someone is interested in buying the site feel free to contact us (support@bitmit.net)

Any details on what new regulations are motivating the closure, pretty please?

Financial supervision requires special licences for businesses which holds customer funds

Have you guys checked out gov.hk on MSO?

From the FAQ :

What is the definition of a Money Service Operator (“MSO”)?
A person who or an institution which operates a money changing service or a remittance service is a Money Service Operator.

Do this apply for a ecommerce site like Bitmit ?

Have you read the thread? They say the problems arise from them keeping their users funds for escrow purposes. For me that is equivalent to a "remittance service", send money from point A to point B securely. Off course that operation is not instant, for escrow purposes, but it doesn't mean to be a whole new concept overall.

[gusti]

Sadly this is true.. If someone is interested in buying the site feel free to contact us (support@bitmit.net)

Any details on what new regulations are motivating the closure, pretty please?

Financial supervision requires special licences for businesses which holds customer funds

Have you guys checked out gov.hk on MSO?

From the FAQ :

What is the definition of a Money Service Operator (“MSO”)?
A person who or an institution which operates a money changing service or a remittance service is a Money Service Operator.

Do this apply for a ecommerce site like Bitmit ?

Have you read the thread? They say the problems arise from them keeping their users funds for escrow purposes. For me that is equivalent to a "remittance service", send money from point A to point B securely. Off course that operation is not instant, for escrow purposes, but it doesn't mean to be a whole new concept overall.

Yes, I read the whole thread. You say that "escrow service" and "remittance service" are equivalent.
Any backup for that, or just saying ? I can also say that a car seller is a "remittance service".

[tosaki]

Currently I am pointing out some options we have. I regret that I have published this depressing closure msg. I think we will find a solution that satisfies all of us so don't worry guys!

[paraipan]

Sadly this is true.. If someone is interested in buying the site feel free to contact us (support@bitmit.net)

Any details on what new regulations are motivating the closure, pretty please?

Financial supervision requires special licences for businesses which holds customer funds

Have you guys checked out gov.hk on MSO?

From the FAQ :

What is the definition of a Money Service Operator (“MSO”)?
A person who or an institution which operates a money changing service or a remittance service is a Money Service Operator.

Do this apply for a ecommerce site like Bitmit ?

Have you read the thread? They say the problems arise from them keeping their users funds for escrow purposes. For me that is equivalent to a "remittance service", send money from point A to point B securely. Off course that operation is not instant, for escrow purposes, but it doesn't mean to be a whole new concept overall.

Yes, I read the whole thread. You say that "escrow service" and "remittance service" are equivalent.
Any backup for that, or just saying ? I can also say that a car seller is a "remittance service".

Don't mix things up, bitmit is not selling the products only providing the platform for sellers and buyers to meet and trade. Bitcoins don't have a legal status right now, so they are to be treated as local currency on any specific platform any given time. What I mean is BTC can be treated as bitmit currency for paying the products, so without them "remitting" internally there would be no exchange of goods.

[allthingsluxury]

Honestly I believe if Bitmit got rid of it's escrow system there would be no legal problems at all. To me this seems like the only thing that could get you in trouble. There is nothing illegal about running a auction website. Just register yourself as a legal business and pay your taxes, you shouldn't have any issues at all since you are simply providing an outlet for buyers and sellers.

I hope that the escrow system is done away with in the future and whoever ends up taking over the site takes some of the positive criticism to heart that is posted here and makes the required improvements.

I see a huge amount of potential here for this site. With the amount of traffic that this website generates its value is substantial.

[gusti]

Don't mix things up, bitmit is not selling the products only providing the platform for sellers and buyers to meet and trade. Bitcoins don't have a legal status right now, so they are to be treated as local currency on any specific platform any given time. What I mean is BTC can be treated as bitmit currency for paying the products, so without them "remitting" internally there would be no exchange of goods.

You are pulling that opinions from your arse, without any backup or previous ruling in any jurisdiction.
Are you a lawyer or regulator, or did you talk with any ? Nonsense.

[paraipan]

Don't mix things up, bitmit is not selling the products only providing the platform for sellers and buyers to meet and trade. Bitcoins don't have a legal status right now, so they are to be treated as local currency on any specific platform any given time. What I mean is BTC can be treated as bitmit currency for paying the products, so without them "remitting" internally there would be no exchange of goods.

You are pulling that opinions from your arse, without any backup or previous ruling in any jurisdiction.
Are you a lawyer or regulator, or did you talk with any ? Nonsense.

I'm none of that, this is only my personal opinion after talking with various people on the issue and none of them knew better, even though some of the make a living at giving legal advice. Bitcoins currently are magic cards for any legal entity, so, can you prove otherwise?

[mikegogulski]

Forget legal council. Laws change on a whim if you haven't noticed. Voluntary trade is under attack. We need to quit asking for permission to do business. We can do that on Tor.

I think Tormail is a good example to follow. They have their main servers hidden somewhere, and the public-facing website at tormail.org is a vps that's running nothing more than a Tor node and a copy of socat.

+1. This is also now basically the architecture that The Pirate Bay uses:

(...snip...)

Agreed here on all counts. I'm in the bidding myself for Bitmit. Sure, I'll run it with as much jurisdictional diversity and back-end hiding as possible, and screw the lawyers anyway. I'm *also* willing to be the public figurehead who takes the legal blame if things go sour. "Stateless ex-American Anarchist on Trial in Europe for Running Unregulated Financial Service" just sounds too cool.

[Daily Anarchist]

Forget legal council. Laws change on a whim if you haven't noticed. Voluntary trade is under attack. We need to quit asking for permission to do business. We can do that on Tor.

I think Tormail is a good example to follow. They have their main servers hidden somewhere, and the public-facing website at tormail.org is a vps that's running nothing more than a Tor node and a copy of socat.

+1. This is also now basically the architecture that The Pirate Bay uses:

(...snip...)

Agreed here on all counts. I'm in the bidding myself for Bitmit. Sure, I'll run it with as much jurisdictional diversity and back-end hiding as possible, and screw the lawyers anyway. I'm *also* willing to be the public figurehead who takes the legal blame if things go sour. "Stateless ex-American Anarchist on Trial in Europe for Running Unregulated Financial Service" just sounds too cool.

My man! 

[Raoul Duke]

Forget legal council. Laws change on a whim if you haven't noticed. Voluntary trade is under attack. We need to quit asking for permission to do business. We can do that on Tor.

I think Tormail is a good example to follow. They have their main servers hidden somewhere, and the public-facing website at tormail.org is a vps that's running nothing more than a Tor node and a copy of socat.

+1. This is also now basically the architecture that The Pirate Bay uses:

(...snip...)

Agreed here on all counts. I'm in the bidding myself for Bitmit. Sure, I'll run it with as much jurisdictional diversity and back-end hiding as possible, and screw the lawyers anyway. I'm *also* willing to be the public figurehead who takes the legal blame if things go sour. "Stateless ex-American Anarchist on Trial in Europe for Running Unregulated Financial Service" just sounds too cool.

Nefario could learn something with you ;-)

[Deafboy]

Nefario could learn something with you ;-)

Nefario told us exactly the same. But I'm OK with Mike.
Btw auction disapeared. Is it sold already?

[Bitcoin Oz]

Nefario could learn something with you ;-)

Nefario told us exactly the same. But I'm OK with Mike.
Btw auction disapeared. Is it sold already?

Nefario approached the authorities himself. Mike probably wont 

[mikegogulski]

Nefario could learn something with you ;-)

Nefario told us exactly the same. But I'm OK with Mike.
Btw auction disapeared. Is it sold already?

Nefario approached the authorities himself. Mike probably wont 

Why on earth would I?

To be GOVERNED is to be watched, inspected, spied upon, directed, law-driven, numbered, regulated, enrolled, indoctrinated, preached at, controlled, checked, estimated, valued, censured, commanded, by creatures who have neither the right nor the wisdom nor the virtue to do so. To be GOVERNED is to be at every operation, at every transaction noted, registered, counted, taxed, stamped, measured, numbered, assessed, licensed, authorized, admonished, prevented, forbidden, reformed, corrected, punished. It is, under pretext of public utility, and in the name of the general interest, to be place[d] under contribution, drilled, fleeced, exploited, monopolized, extorted from, squeezed, hoaxed, robbed; then, at the slightest resistance, the first word of complaint, to be repressed, fined, vilified, harassed, hunted down, abused, clubbed, disarmed, bound, choked, imprisoned, judged, condemned, shot, deported, sacrificed, sold, betrayed; and to crown all, mocked, ridiculed, derided, outraged, dishonored. That is government; that is its justice; that is its morality.

[tosaki]

Good news. We have figured out a solution for this problem. Bitmit is not going to be sold. Business as usual =)

I am sorry for the insecurity this may have caused.

[paraipan]

Good news. We have figured out a solution to this problem. Bitmit is not going to be sold. Business as usual =)

I am sorry for the insecurity this may have caused.

Great news 

[bitcats]

How did you solve the problem?

Or did you just try to test out the market value of Bitmit?

[barbarousrelic]

Good news. We have figured out a solution for this problem. Bitmit is not going to be sold. Business as usual =)

I am sorry for the insecurity this may have caused.

Hooray!

[elux]

Good news. We have figured out a solution for this problem. Bitmit is not going to be sold. Business as usual =)

"Business as usual =)" Interesting PR strategy. ಠ_ಠ

Don't cry wolf, unless the theatre is on fire, as the saying goes. Mind detailing the solution?

I'll be a bit disappointed If this was a gimmick, what with services actually going up in flames every other week and all.

Also: Hooray!  

[tosaki]

No, that really was no joke or stupid PR gag. But when one door closes another opens. I will publish details regarding our solution soon.

[freeAgent]

No, that really was no joke or stupid PR gag. But when one door closes another opens. I will publish details regarding our solution soon.

Awesome!

[stevegee58]

I'm curious.  Why operate a normal web site out in the open when you can just set up a Tor hidden service?

Just because there are sketchy sites on Tor doesn't mean your site has to be sketchy.  Operating a normal internet web site just opens yourself to all manner of regulatory (and law enforcement) interference even if you're not doing anything wrong.

[elux]

I'm curious.  Why operate a normal web site out in the open when you can just set up a Tor hidden service?

In general: Because you're trying to do business, and doing business as a hidden service will immediately kill most of that business.

What would happen to the trade volume of ebay if ebay.com suddenly moved to ebay(...).onion?

Even SilkRoad would (I presume) explode with traffic if it was feasible to operate securely in the clear. (Which it is not.)

Going hidden has to be an strict necessity in order to outweigh the not-so-trivial inconvenience to the customer.

(And the resulting loss of business to the business.)


Update: Having an optional hidden service would be nice, novel, and likely to attract some modest additional business, without being too costly.

Low hosting fees on hidden services, innit?

[Vitalik Buterin]

I'm curious.  Why operate a normal web site out in the open when you can just set up a Tor hidden service?

Just because there are sketchy sites on Tor doesn't mean your site has to be sketchy.  Operating a normal internet web site just opens yourself to all manner of regulatory (and law enforcement) interference even if you're not doing anything wrong.

Because voluntarily disclosing your physical identity and location to give people more recourse in case you turn out to be a fraud is a good way to immediately build trust.

[stevegee58]

In general: Because you're trying to do business, and doing business as a hidden service will immediately kill most of that business.

What would happen to the trade volume of ebay if ebay.com suddenly moved to ebay(...).onion?

Even SilkRoad would (I presume) explode with traffic if it was feasible to operate securely in the clear. (Which it is not.)

Going hidden has to be an strict necessity in order to outweigh the not-so-trivial inconvenience.

I already thought of this, but what's more inconvenient and detrimental to trade volume than getting shut down?

[crazy_rabbit]

In general: Because you're trying to do business, and doing business as a hidden service will immediately kill most of that business.

What would happen to the trade volume of ebay if ebay.com suddenly moved to ebay(...).onion?

Even SilkRoad would (I presume) explode with traffic if it was feasible to operate securely in the clear. (Which it is not.)

Going hidden has to be an strict necessity in order to outweigh the not-so-trivial inconvenience.

I already thought of this, but what's more inconvenient and detrimental to trade volume than getting shut down?

Oh imagine if Silk Road was in the open. Wow.

[elux]

In general: Because you're trying to do business, and doing business as a hidden service will immediately kill most of that business.

What would happen to the trade volume of ebay if ebay.com suddenly moved to ebay(...).onion?

Even SilkRoad would (I presume) explode with traffic if it was feasible to operate securely in the clear. (Which it is not.)

Going hidden has to be an strict necessity in order to outweigh the not-so-trivial inconvenience.

I already thought of this, but what's more inconvenient and detrimental to trade volume than getting shut down?

Exactly. (Go open AND get shut down, OR go hidden service and stay tiny.)

This scenario is the only scenario where a hidden-service-only business model is preferable to the alternative.

[herzmeister]

Oh imagine if Silk Road was in the open. Wow.

they should do an open house day... just one day. 

[Mr. Coinman]

No, that really was no joke or stupid PR gag. But when one door closes another opens. I will publish details regarding our solution soon.

Great news! You had us all worried.

[allthingsluxury]

Nice, glad that bitmit is staying open. I really am interested to hear your solution.

[bitcats]

The whole thing looks fishy

[Comodore]

Dear Bitmit,
I do have a question. What country are you operating from? And what were the acts prohibiting you?

Thank you

[deeplink]

Dear Bitmit,
I do have a question. What country are you operating from? And what were the acts prohibiting you?

Thank you

They operate from Hong Kong and the problem seems to be with escrow.

[barbarousrelic]

OP should change the title.

[BCB]

Something fishy about this whole thing.  They playing us (or somebody)??

[tosaki]

It was stupid and not professional to announce the closure without figuring out the alternatives we have. As I already said we have a serious solution which will be a benefit for all of us. Informative details to this whole story and - for more transparency - background information about Bitmit will be published soon (bitcoin magazine, codinginmysleep.com).

Something fishy about this whole thing.  They playing us (or somebody)??

The only fishy thing on Bitmit might be this https://www.bitmit.net/zh-cn/trade/i/3022-fishnet-stockings-black 


Thanks for your support

[BCB]

tosaki,

It's a little  disingenuous to make a public announcement about the closing of your site, disappointing all of your user over what seemed to be a liked and much used service, then to come back and say "Oh wait, we've figured it out, we're not really closing - New at 10:00."

Bitfloor lost hundreds of thousand of dollars, shut down to deal with the security issues and never once mentioned closing and they are back in operation.

For the sake of transparency I think you  owe it to your user and the community in general to explain yourselves here.

Otherwise is looks like a publicity ploy at the expense of your users.

[420]

cash
https://www.bitmit.net/en/trade/i/8597-us-cash-20-usps-first-class-bubble-mailer-w-dcn-escrow

what is DCN?

tosaki,

It's a little  disingenuous to make a public announcement about the closing of your site, disappointing all of your user over what seemed to be a liked and much used service, then to come back and say "Oh wait, we've figured it out, we're not really closing - New at 10:00."

Bitfloor lost hundreds of thousand of dollars, shut down to deal with the security issues and never once mentioned closing and they are back in operation.

For the sake of transparency I think you  owe it to your user and the community in general to explain yourselves here.

Otherwise is looks like a publicity ploy at the expense of your users.

I second that

[TheButterZone]

cash
https://www.bitmit.net/en/trade/i/8597-us-cash-20-usps-first-class-bubble-mailer-w-dcn-escrow

what is DCN?

I'll use a Delivery Confirmation Number (DCN).

[420]

cash
https://www.bitmit.net/en/trade/i/8597-us-cash-20-usps-first-class-bubble-mailer-w-dcn-escrow

what is DCN?

I'll use a Delivery Confirmation Number (DCN).

with USPS

[TheButterZone]

Yes.

[MPOE-PR]

No, that really was no joke or stupid PR gag. But when one door closes another opens. I will publish details regarding our solution soon.

What's the definition of soon in this context?

[TheButterZone]

"Two weeks!"

[420]

"Two weeks!"

you're with bitmit?

[TheButterZone]

LOL

http://en.wikipedia.org/wiki/The_Money_Pit#Plot

[420]

LOL

http://en.wikipedia.org/wiki/The_Money_Pit#Plot

HAHAHA

[Mr. Coinman]

LOL

http://en.wikipedia.org/wiki/The_Money_Pit#Plot

"The Bitpit.net"

[gabbynot]

So is this closed now?  The website doesn't come up for me.

[dstruct2k]

Wondering the same thing as the last post... I've got coins there

[acorn]

Loads fine for me 

[dstruct2k]

Loads fine for me 

Yeah, it seems to be back up... Still, cancelling all purchases and pulling my coins.

[tosaki]

We had some problems in our data center.  Dont worry, Of course bitmit does not close and will continue its business. At this time we are creating a new company for it.

[Stephen Gornick]

As a bookend to this thread:

However, due to private reasons I decided to close Bitmit. It it too much stress for me because it is a huge responsibility to keep such a site running and  growing user funds safe. The site will stay online for some more weeks to guarantee that all current orders can be completed.

and then:

I planned this already some time ago and when I am going to "close"->sell Bitmit to somebody who can run it more seriously it would be a benefit for all of us I think.

Selling it on a Bitmit auction is a quite good idea I consider.

[Edit: And a related thread:

[warning] bitmit.net was sold secret without telling the community.
 - http://bitcointalk.org/index.php?topic=135366.0 ]

[shrimpdigger]

ebay is great, bitmit could be better, don't close it down, arnt they making money?

[Taccomc]

if anyone is looking to buy on amazon with ripple or bitcoin  I just did a transaction through bitcurl.com that went smoothly.

[mackstuart]

what the heck is going on with bitmit?  I hope I haven't lost my wallet

[favdesu]

Sorry that it takes longer than expected to bring the site back online. We are forced  by our hoster to setup ddos protection service and hoster is setting up relocation of server.

SEARCH IS YOUR FRIEND

[bbit]

bitmint is gone

[bitcats]

@tosaki
bitmit.net is still down.
Please give us some information about the status quo.

[darrd]

    
Bitmit is ended

[cosmicblue]

Bitmit is ended

reasons, prove?

[muyuu]

Better lock this one as the title and the first posts are very misguiding of the subsequent situation.

[Raoul Duke]

Topic locked because this matter is already resolved.
New concerns about bitmit closing should go in a new thread. Thank you!