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Author Topic: I don't trust mybitcoin or the UABB, but how come so many trust it?  (Read 12412 times)
Raoul Duke
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July 15, 2011, 06:25:13 PM
 #21

But if it's too hard to manually verify these email-less accounts for these people, and they've received numerous complains, then you would think they'd reconsider the policy and make emails mandatory.

If i'm not mistaken, mybitcoin.com had mandatory email in their registration form in the beginning and removed it because of the privacy freaks

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kgo
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July 15, 2011, 07:13:53 PM
 #22

But if it's too hard to manually verify these email-less accounts for these people, and they've received numerous complains, then you would think they'd reconsider the policy and make emails mandatory.

If i'm not mistaken, mybitcoin.com had mandatory email in their registration form in the beginning and removed it because of the privacy freaks

Well there you go.  People got what they asked for.  Roll Eyes
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July 15, 2011, 07:20:48 PM
 #23

you don't trust mybitcoin huh?

so buy bitcoinuser.com from me and make something of it.

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July 15, 2011, 07:29:55 PM
 #24

I didn't know people were still using mybitcoin ... based on the growth we had over the past week I thought everyone was at flexcoin.com


Bitcoin RSS App / Bitcoin Android App / Bitcoin Webapp http://www.ounce.me  Say thank you here:  1HByHZQ44LUCxxpnqtXDuJVmrSdrGK6Q2f
Vitalik Buterin
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July 16, 2011, 12:19:00 AM
 #25

I exclusively use mybitcoin.com as payment processor on all my sites.  I have never had any trouble with them.  However, all the problems I see reported do concern me.  I suppose at some point I'll sync my stores with the bitcoin client running on my servers, but with mybitcoin.com running well for me, it's hard to justify taking the time.

So, I guess the best strategy is to use it on minimal trust mode (ie. use it for the service, but keep as little as possible in the account).

Argumentum ad lunam: the fallacy that because Bitcoin's price is rising really fast the currency must be a speculative bubble and/or Ponzi scheme.
BitcoinPorn
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July 16, 2011, 12:57:12 AM
 #26

so buy bitcoinuser.com from me and make something of it.
lol, never change

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July 16, 2011, 12:57:23 AM
 #27

Lost password, have email address in account, support ignore my requests for a password reset.

Lost 1BTC and will badmouth them until I get it back, hell.. even after I get it back.
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July 16, 2011, 03:03:07 AM
 #28

Those negative feedbacks are from persons who lost/forgot their password on a service that doesn't offer a pasword recovery option and where no email is given for registration.
Opinions from such persons don't take much credit from me.

A lot of people have reported that their passwords simply stopped working.  This MAY have been what happened to me, but I can't be sure because at the time I was creating new passwords for all my accounts using Keepass, and when I couldn't log into mybitcoin I immediately blamed myself as having fat-fingered the password in Keepass, but I guess I'll never know.  One thing's for sure, they have NEVER answered my emails or messages asking for help.

I lost a LOT more than .5 bitcoins.  As far as I'm concerned, anyone using mybitcoin.com deserves to get ripped off after all of this bad publicity.  The site is a scam.
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July 16, 2011, 03:16:00 AM
 #29

Those negative feedbacks are from persons who lost/forgot their password on a service that doesn't offer a pasword recovery option and where no email is given for registration.
Opinions from such persons don't take much credit from me.

A lot of people have reported that their passwords simply stopped working.  This MAY have been what happened to me, but I can't be sure because at the time I was creating new passwords for all my accounts using Keepass, and when I couldn't log into mybitcoin I immediately blamed myself as having fat-fingered the password in Keepass, but I guess I'll never know.  One thing's for sure, they have NEVER answered my emails or messages asking for help.

I lost a LOT more than .5 bitcoins.  As far as I'm concerned, anyone using mybitcoin.com deserves to get ripped off after all of this bad publicity.  The site is a scam.
This.  Any site that wasn't a scam wouldn't not respond to emails like that.  They would help users recover their accounts and coins.
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July 16, 2011, 03:27:54 AM
 #30

I now wish some of the older members would find alternatives.  Maybe one of the other start ups needs the help of an already established merchant to get their name out there.  This is disappointing, I always thought MyBitcoin was the big game in town.  And I believe it is.  Please someone attempt to represent or defend them Sad

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July 16, 2011, 03:52:21 AM
 #31

Question:  How much of a fee per transaction would people be willing to pay for a mybitcoin-like service that didn't steal people's money?
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July 16, 2011, 04:02:14 AM
 #32

It seems more like an issue of bugs than them purposely trying to steal your money. Someone should make an opensource online wallet?

Either way i don't trust them with the amount of reports I see. And i dont trust any other wallet site either because of fear of "fractional reserve walleting"

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July 16, 2011, 04:22:50 AM
 #33

I find it pretty appealing that I don't have to secure my own wallet, as this is a non-trivial manner (and I'm not even a complete security noob).  Sometimes its easier to trust a 3rd party (that has a working history) than worry about it yourself.  Also I think its kind of ridiculous to expect them respond to emails claiming "forgot my password", if they haven't registered an email with the site.  The option of having no reset option is also nice as it removes a huge potential for unauthorized account access.
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July 16, 2011, 11:30:49 AM
 #34

Sometimes its easier to trust a 3rd party (that has a working history) than worry about it yourself.
I think that is all we are looking for out of this thread, a 3rd party to actually trust.

Raoul Duke
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July 16, 2011, 01:42:28 PM
 #35

I lost a LOT more than .5 bitcoins.  As far as I'm concerned, anyone using mybitcoin.com deserves to get ripped off after all of this bad publicity.  The site is a scam.

All you say is that you "lost a lot more than .5bitcoins", but you never give details. That doesn't help your credibility, especially after I don't know how many people asked you to say HOW MUCH you lost.

For now you are just ONE MORE troll, like so many around here that scream scam at the first sign of trouble...

EDIT: Just found this in the Newbies board
Hi, I actually wanted to reply to this thread : http://forum.bitcoin.org/index.php?topic=26224.60 to say that I have also had a coin disappear at Mybitcoin, but as I don't post on the forum much, I'm limited to the newbie section (if someone could move or quote this over there that would be good). I pulled all my coins out of mybitcoin when I noticed the missing coin, but I still have access to my account, and I correctly received mining payouts both before and after the missing coin (I didn't catch it immediately). The coin shows up in the block explorer here: http://blockexplorer.com/address/1HgDuxLfG3E4kkN5VkToxeFPDN2aWBTjPz . It's easy to spot as it's the 1.01 coin one as opposed to an even 1.00. So, I know that the pool payed out on time to the correct address, but my mybitcoin account balance did not increase. I can't really prove it to the general public, but there is no record of the coin ever arriving at mybitcoin, so it's not a case of my account being compromised by a third party. That should be easily verifiable by someone at mybitcoin. I've sent two support tickets using the messaging system in Mybitcoin with the latter containing all of the information above. It should be an open and shut case, but I have not gotten any response, and it's been almost 2 weeks since the coin should have arrived and about a week since I messaged support.

Has anyone else had problems with coins disappearing at Mybitcoin or any luck actually getting support?

Now, this is how non-trolls complaint: THEY GIVE DETAILS. Learn from it lettucebee. And before you ask, yes, i did read your thread...

Vladimir
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July 16, 2011, 03:46:05 PM
 #36

I think that it is unwise to trust any not extremely credible and trustworthy entity with your bitcoin life savings.

However, it might make sense for the sake of convenience to take some counterparty risks and use services such as mybitcoin and others when amount at risk is fairly small.

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July 16, 2011, 03:48:44 PM
 #37

However, it might make sense for the sake of convenience to take some counterparty risks and use services such as mybitcoin and others when amount at risk is fairly small.
Agreed.  I just think before this thread, for myself, the line of what was risky with MyBitcoin was a little blurry. It is very clear for me presently.

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July 16, 2011, 08:16:42 PM
 #38

I lost a LOT more than .5 bitcoins.  As far as I'm concerned, anyone using mybitcoin.com deserves to get ripped off after all of this bad publicity.  The site is a scam.

All you say is that you "lost a lot more than .5bitcoins", but you never give details. That doesn't help your credibility, especially after I don't know how many people asked you to say HOW MUCH you lost.

For now you are just ONE MORE troll, like so many around here that scream scam at the first sign of trouble...

EDIT: Just found this in the Newbies board
Hi, I actually wanted to reply to this thread : http://forum.bitcoin.org/index.php?topic=26224.60 to say that I have also had a coin disappear at Mybitcoin, but as I don't post on the forum much, I'm limited to the newbie section (if someone could move or quote this over there that would be good). I pulled all my coins out of mybitcoin when I noticed the missing coin, but I still have access to my account, and I correctly received mining payouts both before and after the missing coin (I didn't catch it immediately). The coin shows up in the block explorer here: http://blockexplorer.com/address/1HgDuxLfG3E4kkN5VkToxeFPDN2aWBTjPz . It's easy to spot as it's the 1.01 coin one as opposed to an even 1.00. So, I know that the pool payed out on time to the correct address, but my mybitcoin account balance did not increase. I can't really prove it to the general public, but there is no record of the coin ever arriving at mybitcoin, so it's not a case of my account being compromised by a third party. That should be easily verifiable by someone at mybitcoin. I've sent two support tickets using the messaging system in Mybitcoin with the latter containing all of the information above. It should be an open and shut case, but I have not gotten any response, and it's been almost 2 weeks since the coin should have arrived and about a week since I messaged support.

Has anyone else had problems with coins disappearing at Mybitcoin or any luck actually getting support?

Now, this is how non-trolls complaint: THEY GIVE DETAILS. Learn from it lettucebee. And before you ask, yes, i did read your thread...

You and others have demanded more specifics from me, which would satisfy your curiousity, I suppose, but I don't know yet what I gain from attaching myself to a block chain address.  I've been going through a lot of hassle cleaning up my various accounts after the Mt Gox fiasco (from which I learned a lot about account discipline, anonymity, and trust). 

Thanks for pointing out the above thread.  I'll see how being specific worked for Alrecenk.  If your complaint is something like "it's not fair to say bad things about mybitcoin without backing it up with specific evidence" that's fair enough; Bitmole has already chewed me out for that.  If I thought putting out that kind of information would help me get my money back, I would do it.  But if it doesn't help me get my money back all I will have done is be compromised yet again.  Is this unfair to mybitcoin?  Perhaps, but if we're talking about fairness they can start by responding to my requests.

But I ask you, where is mybitcoin in this debate?  I welcome Tom Williams, or whoever he is, to come here and accuse me directly of slander and libel.  Does anyone believe he is so busy running his site in his basement that he hasn't heard a peep about all of the bad press he is getting on the #1 bitcoin forum?  The only people who defend mybitcoin appear to be techies who don't like to see a fellow business mis-treated.  But if any of you treated your customers the way mybitcoin has you'd deserve complaints too.  I have been honest about what has happened to me.  I'm just somebody who got interested in bitcoin and bought some.  I didn't ask to get ripped off.  Don't you find it odd and more than a little unsettling that a business who would presumably care about its reputation among this TINY community of bitcoin users sits in stony silence as one person after another comes forward to complain about the same shortcomings?  Why would you ignore the pattern?  Why are you and bitmole so vociferous in your support of mybitcoin?

Just for fun, I'm going to go over to my email and my alternate mybitcoin account to see if I've heard from the mysterious--and apparently well-loved pirate, Tom Williams--to see if he's responded to my pleas.  I've been doing this nearly every day for weeks.
lettucebee
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July 16, 2011, 08:25:52 PM
 #39

And I now report that mybitcoin still hasn't answered my requests via email or their messaging system.
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July 16, 2011, 08:28:35 PM
 #40

I am thinking about other online wallet alternatives. Any of ya recommend one?

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