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Question: How do you feel about the idea of us helping out BitSpend so they don't file bankrupsy?  (Voting closed: September 30, 2013, 07:28:43 PM)
Extremely Positive - 0 (0%)
Positive - 0 (0%)
Neutral - 0 (0%)
Negative - 0 (0%)
Extremely Negative - 2 (100%)
Total Voters: 2

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Author Topic: BitSpend CEO Justin Whelchel just gave us an update  (Read 1206 times)
ReCat
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September 23, 2013, 07:28:43 PM
 #1

As we all know, BitSpend was a company we all loved. A company that would take our bitcoins, and in return, order products of our choosing from any website and have it delivered to us. Allowing us to purchase our products online with ease and convenience.  As they operated, they did this job incredibly well. I speak from first-hand experience, As I myself have ordered over a grand of products using BitSpend.

2 months ago, BitSpend employees suddenly reported that their primary bank account and the funds within have been seized. Shortly thereafter they updated us to only tell us that their personal accounts, too, have been seized. Reason why is currently unknown. Quite possibly, for "Unauthorized Money Transmission".

Ever since, we have been left in nearly complete silence. Nobody has reported recieving any orders from BitSpend anymore, and nobody has reported receiving refunds anymore. Nobody has heard a word from BitSpend, in any way shape or form.

Recently, The following has been posted on BitSpend's subreddit, including a quote from Private Messages exchanged between the OP and BitSpend owner, Justin Welchel.

Quote
""Hey Justin, If you don't share some information with us in the coming days, I will assume you have planned this as a scam all along. Whats the deal? Are you starting to process refunds or not?"
then he said
"Yes. Losing my house, my job,m my income, and almost my wife and kids all so I can now live in a shitty apartment trying to find a way to feed my kids, THATS a genius scam! I have not posted ANYTHING because I dont know when I will have it all. I have made financial plans with my wife to begin sending people back their money starting in November, but until I know for sure when that will be I wont begin giving dates.Look, I spen t 18 hours a day working on Bitspend, I gave up my job, my savings, everything... now I have nothing... so if you want to start throwing out a "scam" threat, it will be pointles"
another message
"I guess you have no other option then. I will in turn be left with no option but to begin proceedings for Bitspend to enter bankruptcy. I had hoped to avoid this and to be able to earn enough money personally to do the right thing and pay you guys back, even though as a company all I have to do is file bankruptcy... I wanted to get you guys refunds so I personally took TWO FREAKING JOBS so I can EARN MONEY TO PAY YOU BACK as I felt is was something good people do. If you feel you need to sue Bitspend, I cannot stop you. I will now be ceasing to use this account, as I feel that now that you have told me you are bringing legal action against my company, I will no longer have any direct contact with you."

What do we make of this?

Reddit URL: https://pay.reddit.com/r/BitSpend/comments/1mxks1/bitspend_website_gone/

BTC: 1recatirpHBjR9sxgabB3RDtM6TgntYUW
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ReCat
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September 30, 2013, 03:02:09 PM
 #2

I am shocked by how little people care about BitSpend now. Poor BitSpend. Oh well.

BTC: 1recatirpHBjR9sxgabB3RDtM6TgntYUW
Hold onto what you love with all your might, Because you can never know when - Oh. What you love is now gone.
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