I just discovered Bitmit is closing down

[row5_seat47]

My apologies but that link doesn't open any article

Bitcoin Magazine has some exclusives in PRINT.
This article has not yet been released online (and it may not).

[uk1]

is he selling his domain?

If you are interested in buying the site we will publish further information in about 2weeks. Meanwhile please stay patient.

i cut and pasted the above from bitmit,net i never Pretending to be owner of BitMit.

[theonewhowaskazu]

My apologies but that link doesn't open any article

Bitcoin Magazine has some exclusives in PRINT.
This article has not yet been released online (and it may not).

Why not? Seriously, that's just dumb.

[CAMTRONNNNN]

So - what's the next bitmit going to be? baymit?

Any truth behind the SR2 allegations?

[Bogart]

This really sucks.  IMO, bitmit was one of the best things going for the bitcoin economy.  I used it a lot, both buying and selling.

It was a hell of a lot less cumbersome than ebay.

I sure hope the pending closure is just because it got to be to much hassle for the owner to run, and that a more capable party purchases it and keeps it going more or less without interruption.

I know it has had a lot of downtime lately.  Also, the staff have to deal with judging and resolving every trade dispute that comes up.  Plus I'm sure it was a big target for penetration (holding all those coins), and DoS attacks.  All of which == a big PITA.

FWIW, I was able to login and successfully withdraw the 5 BTC and change from my bitmit wallet in the usual manner.

Since alternatives are being discussed, there's coingig.com.  I haven't tried it out myself yet.

[bitly]

I sure hope the pending closure is just because it got to be to much hassle for the owner to run, and that a more capable party purchases it and keeps it going more or less without interruption.

Or someone should organize a crowdsource campaign to buy and IPO it.

[Duetschpire]

I'm sorry to hear that!! Bitmit has been an inspiration to every one who uses bitcoin for purchases..

cryptothrift is another platform very similar to Bitmit, we only charge TX fee and 1% on escrow is used... We do not hold funds, as soon as payment clears, funds get sent, and as soon as item is marked as "received" escrow funds get released..

cryptothrift also support LTC

Check it out

[CAMTRONNNNN]

In response to cryptothrift -

Do you think your bitmitimation will experience growth or destruction via the creation of the newest iteration of bitmit?

[Duetschpire]

In response to cryptothrift -

Do you think your bitmitimation will experience growth or destruction via the creation of the newest iteration of bitmit?

It's not quite bitmitimation given that we support Litecoin and other alt coins are being tested as we speak..

Growth or destruction? Looking at the growth of user base in the crypto community, I think it's now safe to say that the market is big enough for more than one auction site and market place to co-exist and experience growth.. In saying that, crypto is innovation and innovating, so keeping any service up and running requires continuous maintenance and innovation, which is why we're always looking and developing new features and we're open for any suggestion/criticism

[notserp]

damn that sucks was just starting to like bitmit

[DoomDumas]

Disapointed.   BitMit.net is great.  Used it to buy/sell and was about to used it more and more.

Hope someone will buy it and it will grow and stay.

[flound1129]

This is very fishy, they are shutting down right after doing a big server upgrade?  Makes no sense at all.  Why invest the money just to shut down a few weeks later?

Outside of the exchanges, Bitmit is one of the more well known names in the community.  If they are really shutting down out of choice, the owners have lost their minds.  My bet is there is something else going on here.

[bizz]

This is very fishy, they are shutting down right after doing a big server upgrade?  Makes no sense at all.  Why invest the money just to shut down a few weeks later?

Outside of the exchanges, Bitmit is one of the more well known names in the community.  If they are really shutting down out of choice, the owners have lost their minds.  My bet is there is something else going on here.

My guess is it's just because what it says in that note + exchange rate. Whoever created it probably made enough for a lifetime at this point. Best thing to do is to just sell it before it gets even bigger and legal stuff and customer support become too much of a burden for a small company/one guy who doesn't want to deal with that.

[Nomdeplume]

This is really disappointing! :/ I really hope that someone buys it. I love how easy it is to buy and sell on the site. I recently sold an item on Ebay for the first time in five years and was horrified by the fees, the Paypal holds and scammy buyers. I won't be selling on Ebay again. Bitmit with its reasonable fees, pricing flexibility, awesome buyers and trust will certainly be missed. I might have to look at setting up shop at coingig or Cryptothrift though if someone doesn't purchase the site.

[paulthetafy]

This is really disappointing! :/ I really hope that someone buys it. I love how easy it is to buy and sell on the site. I recently sold an item on Ebay for the first time in five years and was horrified by the fees, the Paypal holds and scammy buyers. I won't be selling on Ebay again. Bitmit with its reasonable fees, pricing flexibility, awesome buyers and trust will certainly be missed. I might have to look at setting up shop at coingig or Cryptothrift though if someone doesn't purchase the site.

Couldn't agree more.  We started cryptothrift.com with the intention of trying to bring more payment options to the marketplace and still keep the low fees.  We already support LTC, but recognise that there are plenty of people that are happy to trade in alternative currencies too.  So we are about to release the addition other crypto currencies as payment methods and hopefully add a new dimension to the market. 

Bitmit has been great for the bitcoin community and I do hope that the guys have a good reason for closing down.  Of course we (cryptothrift) are a competitor, but we are also all pioneers in this industry and should be helping and supporting each other where possible.  Competitor or not, it's a shame to see one of us drop.

[datafish]

We started cryptothrift.com with the intention of trying to bring more payment options to the marketplace and still keep the low fees.  We already support LTC, but recognise that there are plenty of people that are happy to trade in alternative currencies too.  So we are about to release the addition other crypto currencies as payment methods and hopefully add a new dimension to the market. 

I just visited your site and bought an item to test it out.  One minor glitch...when I was presented with the barcode for payment, it wouldn't scan to a legitimate BTC address.  I had to enter the address and payment amount manually.  And yes, I scanned the BTC and not the LTC address.  Other than that, I like the site.

[paulthetafy]

We started cryptothrift.com with the intention of trying to bring more payment options to the marketplace and still keep the low fees.  We already support LTC, but recognise that there are plenty of people that are happy to trade in alternative currencies too.  So we are about to release the addition other crypto currencies as payment methods and hopefully add a new dimension to the market. 

I just visited your site and bought an item to test it out.  One minor glitch...when I was presented with the barcode for payment, it wouldn't scan to a legitimate BTC address.  I had to enter the address and payment amount manually.  And yes, I scanned the BTC and not the LTC address.  Other than that, I like the site.

Thanks for the feedback - I'm fixing that bug as I speak.  The issue was that when applying the 1% escrow fee this resulted in an amount with 10 decimal places, which of course BTC doesn't support.  That caused an invalid QR code to be generated too which is why it wouldn't scan.

Paul

[tonyq]

I have just under 7 BTC in my wallet at Bitmit.
I have just tried to do a small withdrawal to my local wallet and got a message saying that a confirmation email would be sent to me. That was 30 minutes ago and one hasn't arrived yet.
I have looked on the site and in my transaction history list the latest entry says "Queued
Waiting for Email confirmation"
I have sent Bitmit support a message telling them all this and asking how long I will have to wait but have had no reply yet.
The last time I withdrew 6 months ago you didn't have to receive an email and it was almost instant.
This is beginning to worry me.
Should I be worried?
 

[sublime5447]

^ Ya a little

[notserp]

This is really disappointing! :/ I really hope that someone buys it. I love how easy it is to buy and sell on the site. I recently sold an item on Ebay for the first time in five years and was horrified by the fees, the Paypal holds and scammy buyers. I won't be selling on Ebay again. Bitmit with its reasonable fees, pricing flexibility, awesome buyers and trust will certainly be missed. I might have to look at setting up shop at coingig or Cryptothrift though if someone doesn't purchase the site.

yo sup man i bought from u before