[RESOLVED] Is CampBX a ripoff?

[mrhelpful]

Well they are very slow and Keyur had this** to say in an interview but yet no phone number is available to contact them and they are not responding to my tickets.

**
However, users aren’t the same as exchanges. Mithawala said an exchange has to be transparent, visible and credible: it has to be backed by people you can name and phone numbers you can call.

I believe my funds will be 'unlocked' but the delay is plain wrong at this point.

This is a quote from an interview found here:
http://www.theregister.co.uk/2011/07/10/camp_bx_goes_live/

Did you try 510-545-3987
http://www.manta.com/c/mx3x6lq/bulbul-investments-llc

I called it 2 days ago and no answer or voicemail. I also tried emailing support@campbx.com and it bounced. I submitted a support ticket 2 days ago and nothing yet.

I've been converting my BTC to $s there since May and have had no problems for 16 withdrawals, until now. In the last 9 days I've made two ACH withdrawals to the same account as always and nothing. My credit union researched it from their side and called that phone # and learned nothing.

In short, this is red flags all over.

[Sonny]

Well they are very slow and Keyur had this** to say in an interview but yet no phone number is available to contact them and they are not responding to my tickets.

**
However, users aren’t the same as exchanges. Mithawala said an exchange has to be transparent, visible and credible: it has to be backed by people you can name and phone numbers you can call.

I believe my funds will be 'unlocked' but the delay is plain wrong at this point.

This is a quote from an interview found here:
http://www.theregister.co.uk/2011/07/10/camp_bx_goes_live/

Did you try 510-545-3987
http://www.manta.com/c/mx3x6lq/bulbul-investments-llc

I called it 2 days ago and no answer or voicemail. I also tried emailing support@campbx.com and it bounced. I submitted a support ticket 2 days ago and nothing yet.

I've been converting my BTC to $s there since May and have had no problems for 16 withdrawals, until now. In the last 9 days I've made two ACH withdrawals to the same account as always and nothing. My credit union researched it from their side and called that phone # and learned nothing.

In short, this is red flags all over.

Agree with mrhelpful.
Good luck to all those affected.

[JHenderson]

I have 3 ACH pending and I just saw this on their withdrawal page..

Our ACH and WIRE provider has made a business decision to not work with Bitcoins and Bitcoin companies due to regulatory uncertainty and recent spate of negative news for Bitcoins. We are working to find a replacement partner and resume these two services for our customers. In the meantime, please use alternate deposit or withdrawal methods available on CampBX.
 ­
All transfers that have not yet been processed by our ACH and WIRE provider will be refunded to your CampBX account before 5 PM EST on Saturday, February 1 2014. Our team will be working round the clock to ensure all refunds are processed correctly and on schedule.

All USD and BTC balances are accounted for. If you are in urgent need of funds, we recommend you to purchase Bitcoins and withdraw them to your personal wallet.
We will resume ACH and WIRE operations once we have a new partner on-board. We will update this page and our news feed as soon as we have additional information about a tangible implementation date.

What are alternatives to move BTC to USD in the US??

[harkonnen]

I have 3 ACH pending and I just saw this on their withdrawal page..

Our ACH and WIRE provider has made a business decision to not work with Bitcoins and Bitcoin companies due to regulatory uncertainty and recent spate of negative news for Bitcoins. We are working to find a replacement partner and resume these two services for our customers. In the meantime, please use alternate deposit or withdrawal methods available on CampBX.
 ­
All transfers that have not yet been processed by our ACH and WIRE provider will be refunded to your CampBX account before 5 PM EST on Saturday, February 1 2014. Our team will be working round the clock to ensure all refunds are processed correctly and on schedule.

All USD and BTC balances are accounted for. If you are in urgent need of funds, we recommend you to purchase Bitcoins and withdraw them to your personal wallet.
We will resume ACH and WIRE operations once we have a new partner on-board. We will update this page and our news feed as soon as we have additional information about a tangible implementation date.

What are alternatives to move BTC to USD in the US??

Try coinbase.com
They are based in San Francisco

[d3m3ntor]

They haven't ripped me off.  I completed a USPS deposit, purchased BTC and withdrew to my account it took 5 days from the time I dropped the letter in the PO till I moved the 1.5 BTC to my wallet.  They don't seem to be able to solve people's issues in a timely manner though.  I believe the BTC market makers would benefit from an insurance of some sort - similar to SIPC [Securities Investor Protection Corporation] but independent from gov regulation.

[Geremia]

it's been 3+ months, and CampBX still hasn't "found" my "lost" BTC I sent them; it went "lost" because the transaction verified after the address they generated for me "expired". They said months ago they would "waive" the $150 "recovery fee" and find my missing BTC within 2 weeks, but then they went silent. They are a scam!

[Geremia]

Try coinbase.com
They are based in San Francisco

Yes, Coinbase is awesome, and they seem trustworthy. I've spoken to one of its employees before.

[Geremia]

Is there a class action lawsuit against CampBX? I've seen on other threads here that people have lost tens of thousands to them.

[Geremia]

From the whois database for "campbx.com":

Registrant Street: P.O. BOX 0823-03411
Registrant City: PANAMA
Registrant State/Province: PANAMA
Registrant Postal Code: NA
Registrant Country: PA
Registrant Phone: +507.8365503
Registrant Phone Ext:
Registrant Fax: +51.17057182
Registrant Fax Ext:
Registrant Email: EB075B3089E248ECBE6C0FA86E54B815.PROTECT@WHOISGUARD.COM

Would anyone like to call long-distance to Panama?

[Keyur @ Camp BX]

From the whois database for "campbx.com":

Registrant Street: P.O. BOX 0823-03411
Registrant City: PANAMA
Registrant State/Province: PANAMA
Registrant Postal Code: NA
Registrant Country: PA
Registrant Phone: +507.8365503
Registrant Phone Ext:
Registrant Fax: +51.17057182
Registrant Fax Ext:
Registrant Email: EB075B3089E248ECBE6C0FA86E54B815.PROTECT@WHOISGUARD.COM

Would anyone like to call long-distance to Panama?

Geremia, this record is for "Whoisguard" company, which is an intermediary protector for the domain CampBX.com.  CampBX is based in Alpharetta, GA.

We have recovered all BTCs from D-DoS time and resolved those tickets in February.  Your issue may be something different and our sys admin will review and resolve it shortly. 

[Geremia]

Geremia, this record is for "Whoisguard" company, which is an intermediary protector for the domain CampBX.com.  CampBX is based in Alpharetta, GA.

We have recovered all BTCs from D-DoS time and resolved those tickets in February.  Your issue may be something different and our sys admin will review and resolve it shortly. 

Ah, I see. thanks

[wallstreetcoiner]

Does anyone have any advice? I'm desperate. All I want is my money.

In my experience, CampBX is not to be trusted on any level. "Dishonest", I think describes their business model well.

They will close your account first, then ask questions later.

[CRServers]

our sys admin will review and resolve it shortly

Great Mr Keyur!
I feel good for Geremia that might get his money back sometime in the near future as you promised.

But how about my case?
https://bitcointalk.org/index.php?topic=514176.0
CampBX Ticket: #VEP-822-93487
When am I going to get my money back into my account?
Have you gotten your "treasurer" to solve my issue like you promised 2 months ago?
Hoping all is well with you and your CampBX company.
Regards,

[Geremia]

our sys admin will review and resolve it shortly

Great Mr Keyur!
I feel good for Geremia that might get his money back sometime in the near future as you promised.

But how about my case?
https://bitcointalk.org/index.php?topic=514176.0
CampBX Ticket: #VEP-822-93487
When am I going to get my money back into my account?
Have you gotten your "treasurer" to solve my issue like you promised 2 months ago?
Hoping all is well with you and your CampBX company.
Regards,

3+ months for me

[dscotese]

Red Flags:

• There is no obvious "CampBX Support" thread.  There may be one buried in the search pages, but this "Is CampBX a ripoff?" topic is the one that shows up the most.
• CampBX is slow about a lot of things.

Positives:

• No one claiming that they've been ripped off by CampBX has posted any proof that CampBX actually ripped them off.  Evidence, yes, but the evidence is always lacking, which pollutes the reputation of the person posting it.
• Keyur responds to this thread every now and then.
• There is no published customer support number for CampBX.
• It isn't easy to hunt down Keyur to confront him, so rare and trusting is the person who uses CampBX for more than a tiny bit of their bitcoin dealings.

My advice to Keyur:
A) Create a CampBX support thread that doesn't have "ripoff" in the title.
B) Check the forum every day to find new posts to this thread or the new one.
C) Quote and answer posts to this "ripoff?" thread in the new one, and just post a link to it as the answer in this thread.
D) Keep doing a good job, but do it faster.  I assume your profit is too small to justify hiring people to help speed up customer support, and A-C should help with that.

Another thing you might want to consider is your assumptions about paying taxes on your profits.  You may be exercising privileges granted to you by the federal government, but I doubt it.  If you are, then have them spell those out so you can see if you can run an exchange without those privileges.  If you can, that will free you from the legal obligation to pay any income tax.  Your accountant will probably balk at this suggestion, but that only suggests that your accountant has not studied the law in depth.  Check out losthorizons.com if you'd like to become educated on the topic.

[fatguyyyyy]

Red Flags:

• There is no obvious "CampBX Support" thread.  There may be one buried in the search pages, but this "Is CampBX a ripoff?" topic is the one that shows up the most.
• CampBX is slow about a lot of things.

Positives:

• No one claiming that they've been ripped off by CampBX has posted any proof that CampBX actually ripped them off.  Evidence, yes, but the evidence is always lacking, which pollutes the reputation of the person posting it.
• Keyur responds to this thread every now and then.
• There is no published customer support number for CampBX.
• It isn't easy to hunt down Keyur to confront him, so rare and trusting is the person who uses CampBX for more than a tiny bit of their bitcoin dealings.

My advice to Keyur:
A) Create a CampBX support thread that doesn't have "ripoff" in the title.
B) Check the forum every day to find new posts to this thread or the new one.
C) Quote and answer posts to this "ripoff?" thread in the new one, and just post a link to it as the answer in this thread.
D) Keep doing a good job, but do it faster.  I assume your profit is too small to justify hiring people to help speed up customer support, and A-C should help with that.

Another thing you might want to consider is your assumptions about paying taxes on your profits.  You may be exercising privileges granted to you by the federal government, but I doubt it.  If you are, then have them spell those out so you can see if you can run an exchange without those privileges.  If you can, that will free you from the legal obligation to pay any income tax.  Your accountant will probably balk at this suggestion, but that only suggests that your accountant has not studied the law in depth.  Check out losthorizons.com if you'd like to become educated on the topic.

I always heard of delays on ach payments and money orders, but this is spot on.

I never hear the person of the thread updating if they been entirely ripped off on their end.

So if you want the headache, just go for it? If not, then just skip.

[Geremia]

I never hear the person of the thread updating if they been entirely ripped off on their end.

I've been posting updates about my situation, and it's been about 4 months now, and CampBX has done nothing but keep saying it's really hard to "recover" BTC that they lost.

[dscotese]

I am struck by the lack of information regarding expired addresses.  You and campBX should both realize that the delay in confirming your btc deposit cannot be blamed on either you or campBX.

Does it make sense?

They are foolish for using addresses that expire, and you are foolish for sending bitcoin to an address that expires without having a way to recall the transaction (ie double-spend with a higher fee), but in both cases, the foolishness is very very small.

I see no proof here of fraud, and this is what I meant when I said "Evidence, yes, but the evidence is always lacking, which pollutes the reputation of the person posting it."

Rest assured though, this hardly pollutes your reputation at all.  Have you found out anything about why it took so long to confirm?

[Geremia]

I am struck by the lack of information regarding expired addresses.  You and campBX should both realize that the delay in confirming your btc deposit cannot be blamed on either you or campBX.

Where did CampBX say it had to confirm before the address "expires"?

They are foolish for using addresses that expire,

Which is something they implement.

and you are foolish for sending bitcoin to an address that expires without having a way to recall the transaction (ie double-spend with a higher fee), but in both cases, the foolishness is very very small.

What do you mean "double-spend with a higher fee"?

Have you found out anything about why it took so long to confirm?

Besides it not having a sufficiently high fee? No.

[dscotese]

Where did CampBX say it had to confirm before the address "expires"?

I don't think they'd have to.  The literature suggests that a Bitcoin transaction is not considered "complete" until it has six confirmations.  This is only a recommendation, but in the absence of any other suggestion, it would be the correct assumption to make.  And campBX would probably accept it if only the first confirmation came in before the expiration.  Keyur?

and you are foolish for sending bitcoin to an address that expires without having a way to recall the transaction (ie double-spend with a higher fee), but in both cases, the foolishness is very very small.

What do you mean "double-spend with a higher fee"?

Miners establish algorithms to choose what transactions to include in the blocks they mine.  They can only include valid transactions, but when there are two transactions that both spend the same output and either could be valid by itself, it makes sense to include the one that earns the miner the higher fee.  Basically, until the output is spent in a transaction that has been included in a block that was accepted onto the main chain, you can keep spending it (given appropriate software), but only one of the expenses will make it into the blockchain.

I looked around for a better description of this solution, but really, it seems that it isn't well supported.