Bitmit is Closing??

[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.

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[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]

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[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?