bitcoinsports.eu bet sent from Camp BX - Lost forever?

[statdude]

So, my friend placed a bet at Bit365 from his CampBX account (a big no-no), a non two-way account, winning 0.78834951 BTC

He won, and the bet went to never-never land. So far, no reply from Camp BX. Bit365 can't do anything.

Should CAMPBX have the funds? Can anything be done? It looks like the money was moved.

12iM36jf2BcCrDnFztgaMW1MiNKE5Fe7Bq
https://blockchain.info/address/12iM36jf2BcCrDnFztgaMW1MiNKE5Fe7Bq

[statdude]

So if you accidentally send funds to a bad address, they're lost forever?

Is this for real?

Seems like a huge gaping hole in BitCoins usefulness.

Mis-copy an address, and you're done. What if it was 1000 BTC?

[zero3112]

This is just with the exchanges not if you run the bitcoin software on your computer. The exchanges give you a deposit address which can be reused while generating new address that you can use in the future. How ever when you withdraw your coins it doesn't withdraw them from one of you address instead campbx send them with a different address that isn't one of your address that is in your exchange account.

[grue]

the address isn't "bad". it's just that the owner of the address has not configured it to receive transactions multiple times. tell your friend to read instructions next time instead of blaming it on bitcoin.

[zero3112]

You are able to reuse deposit address.  It when you withdraw it show a different address when withdrawing that doesn't show that its coming from you deposit address.  So when they send the coins back its not your address.  It is some other address from campbx but not linked on your account.

[statdude]

I understand what happened- but this is not safe for the USER and needs to be addressed. if bitcoin has any chance to be adopted on a larger scale, it can't be easy to simply "lose" you bitcoins.

What will happen is all addresses will be two-way and eventually I doubt people will even know their address, it will be hidden and simply an "account".

Shame on CampBX for not functioning like blockchain or a wallet.

[grue]

I understand what happened- but this is not safe for the USER and needs to be addressed. if bitcoin has any chance to be adopted on a larger scale, it can't be easy to simply "lose" you bitcoins.

What will happen is all addresses will be two-way and eventually I doubt people will even know their address, it will be hidden and simply an "account".

Shame on CampBX for not functioning like blockchain or a wallet.

Actually, most merchants use 1 address per transaction. It also makes no sense that you're shaming CampBX for it. It clearly says that you can't reuse the deposit address, so how about you accept the blame for once? Pretty sure that Bit365 also says that you can only use certain wallets with their service.

[danieldaniel]

I understand what happened- but this is not safe for the USER and needs to be addressed. if bitcoin has any chance to be adopted on a larger scale, it can't be easy to simply "lose" you bitcoins.

What will happen is all addresses will be two-way and eventually I doubt people will even know their address, it will be hidden and simply an "account".

Shame on CampBX for not functioning like blockchain or a wallet.

This is not CampBX's fault. 

[statdude]

I understand what happened- but this is not safe for the USER and needs to be addressed. if bitcoin has any chance to be adopted on a larger scale, it can't be easy to simply "lose" you bitcoins.

What will happen is all addresses will be two-way and eventually I doubt people will even know their address, it will be hidden and simply an "account".

Shame on CampBX for not functioning like blockchain or a wallet.

This is not CampBX's fault. 

Are you seriously suggesting it should be this easy to "destroy" your money?

I never suggested it was CampBX's fault. It's a simple fact that bitcoins make it easy to lose your money, and CampBX's job to protect the consumer from it.

I don't like the idea of sending a transaction and knowing their is a chance I could paste the wrong address, and lose thousands of dollars it the process.

A better way can and will be invented for bitcoins to be transferred (at least 2-way wallets across the board).

You'll be able to "link" accounts - which will verify automatically - like Google/Facebook login - and send that way.

I never want to have to see an underlying bitcoin "address". I want to scan a barcode, or login, and be done and 100% sure where my money is going with that transaction. There should have been more warning for my friend.

[danieldaniel]

I understand what happened- but this is not safe for the USER and needs to be addressed. if bitcoin has any chance to be adopted on a larger scale, it can't be easy to simply "lose" you bitcoins.

What will happen is all addresses will be two-way and eventually I doubt people will even know their address, it will be hidden and simply an "account".

Shame on CampBX for not functioning like blockchain or a wallet.

This is not CampBX's fault. 

Are you seriously suggesting it should be this easy to "destroy" your money?

I never suggested it was CampBX's fault. It's a simple fact that bitcoins make it easy to lose your money, and CampBX's job to protect the consumer from it.

I don't like the idea of sending a transaction and knowing their is a chance I could paste the wrong address, and lose thousands of dollars it the process.

A better way can and will be invented for bitcoins to be transferred (at least 2-way wallets across the board).

You'll be able to "link" accounts - which will verify automatically - like Google/Facebook login - and send that way.

I never want to have to see an underlying bitcoin "address". I want to scan a barcode, or login, and be done and 100% sure where my money is going with that transaction. There should have been more warning for my friend.

CampBX's job is to keep your money safe while they have it.  When you send it out, you have to make sure to copy and paste your address exactly (or read the gambling site, especially where it says to NOT send from an exchange wallet).

I'm not saying that there shouldn't be a better way, because there should, but it's not their fault (and not their shame).

[grue]

Are you seriously suggesting it should be this easy to "destroy" your money?

Your money isn't being destroyed. You did not follow the instructions and you paid the cost. 2 way wallets are indeed good, but there's no obligation for the merchant to provide it. after all, campbx isn't even a merchant, it's a service site.

I never suggested it was CampBX's fault. It's a simple fact that bitcoins make it easy to lose your money, and CampBX's job to protect the consumer from it.

You said "shame on campbx". that strongly implies it's their fault. campbx's has no obligation to protect consumers from their own incompetence.

I don't like the idea of sending a transaction and knowing their is a chance I could paste the wrong address, and lose thousands of dollars it the process.

it specifically said it can only be used once. is that so hard for you to understand?

A better way can and will be invented for bitcoins to be transferred (at least 2-way wallets across the board).

you're free to make your site with 2 way wallet.

You'll be able to "link" accounts - which will verify automatically - like Google/Facebook login - and send that way.

I never want to have to see an underlying bitcoin "address". I want to scan a barcode, or login, and be done and 100% sure where my money is going with that transaction. There should have been more warning for my friend.

lolwut

[statdude]

I think you guys have given fair enough answers. Thanks for that.

I just want to restate this is not a problem with bitcoin inherently. Unfortunately, what this means, is that bitcoin is simply not yet user-friendly on most websites/applications for it, which is fine, it doesn't need to be yet. What I meant by that last comment was I think there will be eventually be a push and investment in to "Dumbass Friendly" sites, and I encourage the bitcoin community to support them.

Think about the Regular Joe. BTC *needs* to be made simpler for him. It's still too complicated for all but the most tech-friendly demographic. Blockchain.info and it's app, QR codes, etc. are paving the way of the future here. I'm fine with bitcoin the way it is, I'm just thinking about Joe, because I want his money in bitcoin.

The way of the future is cloud-based, user-friendly, simple and easy to use. 

How many people have "lost" wallets and mis-sent transactions? How many bitcoins have been lost this way?

I'm trying to help others avoid the same mistake and encourage improvement upon the current bitcoin model.