MyBitcoin.com - hosting provider: leaseweb.com

[stick_theman]

We have a lot of bitcoin there..... ( as has already been reported in the press )...   

rightfully so.  One of Bruce's accounts has about 250K bitcoins!!!  Bruce, could you contact MyBitcoin to see if they would appear on your show?  This would add a new layer of legitimacy into the company... or else, we will be moving all our funds somewhere else. 

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[stick_theman]

One of Bruce's accounts has about 250K bitcoins!

That's completely ignorant, no offense. I seriously doubt anyone who has $2.5 million dollars of anything would be silly enough to trust a random 'dude' with their funds, and if that's even a remotely accurate estimation of funds in MyBitcoin, running away with money just got boosted up to the top reason for the site being down.

Good going.

Dude, not so ignorant if you actually do some homework and have a listen to NPR's podcast.

http://www.npr.org/blogs/money/2011/07/13/137795648/the-tuesday-podcast-bitcoin

[stick_theman]

I'm not looking to fight, but I don't think there is much wrong with what I said. I feel sorry for all the people who have had their funds 'disappeared' on them like a bad con, but sometimes when you hear something so bizarre and so strange you just have to stop and think "wtf?".

"wtf" indeed.  One thing after another is making the situation a lot more stressful.  Anyways, I hope the Korean exchange is going well, Matthew N.W.

[julz]

One of Bruce's accounts has about 250K bitcoins!

That's completely ignorant, no offense. I seriously doubt anyone who has $2.5 million dollars of anything would be silly enough to trust a random 'dude' with their funds, and if that's even a remotely accurate estimation of funds in MyBitcoin, running away with money just got boosted up to the top reason for the site being down.
Good going.

Dude, not so ignorant if you actually do some homework and have a listen to NPR's podcast.
http://www.npr.org/blogs/money/2011/07/13/137795648/the-tuesday-podcast-bitcoin

The figure mentioned on NPR is 25K (Which Bruce claims isn't his..)

It's very unfortunate that mybitcoin has been mentioned as a way for beginners to use bitcoin on some major news networks.
NPR & CNN at least.

[BitPay Business Solutions]

Matt, let us know when your UABB is up and running.  We'd like to get listed.

[BitPay Business Solutions]

I imagine it's going to be a scary venture for businesses to 'get accredited' by us at first, but we're just as sick and tired of the fraud and mismanagement as anyone else so any business intended on becoming accredited will definitely be getting a helping handful of tough love.

My guess is that it's not as painful as you might think.

1.  verify business has all proper operating licenses
2.  verify owners have no criminal record

here in the US there are background searches you can do for a small fee.  it is very common.

[BitPay Business Solutions]

I imagine it's going to be a scary venture for businesses to 'get accredited' by us at first, but we're just as sick and tired of the fraud and mismanagement as anyone else so any business intended on becoming accredited will definitely be getting a helping handful of tough love.

My guess is that it's not as painful as you might think.

1.  verify business has all proper operating licenses
2.  verify owners have no criminal record

here in the US there are background searches you can do for a small fee.  it is very common.

As an American, that much I am aware of-- our services however are a bit more invasive. Although there are no requirements to be a functioning member of the UABB for the purpose of rating/commenting/reporting, to become accredited and recognized as a safe-to-use business, we require the following*:

1) Businesses need to have been a member with the UABB for at least 30-days with 100% positive feedback (at least 1 transaction).

2) Businesses need to provide faxed copies of their operating licenses/business certificates. If they are not a registered business but a home-business, they need to provide multiple proofs of identity including a physical address for product return claims to be associated with, and a phone number to be connected with technical support.

3) Businesses will be required to use our insured escrow services to forward payments, at no additional cost to consumer or merchant.

4) Businesses will be required to have an SSL certificate installed on their sites to handle any private user information for purchasing products and services.

5) Businesses need to pay a small accreditation fee to help recoup our total costs for running a fax service, processing paperwork, issuing electronic seals, and running the escrow and dispute mediation services.

Background checks will only be necessary if the individual is running the company alone or out of their home, and will be done at the discretion of the UABB.


(*still debating these requirements with the board and thus the accreditation page is not up yet)

I think you should kill the escrow.  Everything else is fine.  Businesses and consumers should connect directly, that's the whole point of bitcoins.

[julz]

(EDIT: as you said above offering escrow as an option sounds the best way..  even 'requiring businesses to offer it as an option' could be a problem)

3) Businesses will be required to use our insured escrow services to forward payments, at no additional cost to consumer or merchant.

That seems like a non-starter to me.
Routing all payments via a central system is technically fragile, politically risky, innovation unfriendly and impractical to set up for all the various foreign currencies & payment systems out there.

Perhaps you meant only for Bitcoin transactions..  but I suspect it will be the minority of enterprises that are truly 'pure Bitcoin'.

For the sort of business I have in mind - the escrow would be complex - sometimes requiring only part payment back to the client.
Escrow services based on a written escrow agreement where the UABB can easily determine fulfillment of conditions are one thing..
but are you really going to intermediate in all that in a high-volume transaction environment?

Requiring businesses to give their customers an *option* to route payments via the escrow may be nice for specific types of transaction.

Escrow only caters for a subset of the possible services for which someone might 'hand over' bitcoins in expectation of a set of services.
The point at which actual 'payment' occurs and value changes hands is service specific.  


How you can require 'at no additional cost' I don't know. Even with pure Bitcoin transactions there will ultimately be fees.
Maybe all you meant is that when the business and customer do both choose to use your escrow - the business doesn't charge an additional fee above what the network charges?
If so.. sorry for my rambling above, but it wasn't clear


P.S nice to see the 'about us' improvements on the UABB site.

[jayfitt]

2) Businesses need to provide faxed copies of their operating licenses/business certificates. If they are not a registered business but a home-business, they need to provide multiple proofs of identity including a physical address for product return claims to be associated with, and a phone number to be connected with technical support.

In the spirit of trust and transparency, it would benefit the community if we had some of this information from you as well.

The domain names uabb.org and uabci.org have been registered anonymously. And the email m_wright@hanmail.com, which is associated with baok.or.kr, has bounced back as undeliverable.

I love this idea and it could really benefit the community, but with everything that's been happening lately we need more. Are we supposed to trust one anonymous person on the internet because another anonymous person says they are legit?

For trust, we need total transparency in the organization that is handing out these accredations.

EDIT: don't take this post the wrong way. It's not meant to be accusatory. These are valid concerns!

[Christian Pezza]

I just find out about MB down!!! What happen if some BTC got send to my account when the site is down? they got lost? they may could be sucked in and bye bye new digital coin?

I see so many good people in this new event of BTC but there is always that ass have to ruin the party!!!

[julz]

...
Seriously. You should be educating consumers to look for this information first - so you need to have it yourself.

...
Oversight or not, you have the right idea. Btw, I'll stop working on the redmine server configurations and put up that about page since you brought it up.

Well this is embarrassing for me.
After taking you to task on this issue - I realize I'm guilty of attempting to do business with a bitcoin site that gives no more than a support email address.  Bitbills.com

Normally - for my non-bitcoin purchases - I've been pretty careful about checking out who I'm doing business with. I think the fact that I saw one of the bitbills guys appear on Bruce Wagner's bitcoin show, made me let my guard down!

However I'm hopeful that bitbills will do the right thing by anyone caught up by the problem that they were using mybitcoin as a payment processor.
They have a great product and a good reputation that is no doubt worth protecting.

They really should provide more info about their operation though. For bitbills to ever be accepted by the general public, they'll need to have some idea of who the issuing company actually is!

[FXRiot]

I'm creating a business account on your page now.

Edit nvm your links seem broken

And I think folks from now on shouldnt trust anyone who isn't public/active in the community.  Because most serious businesses absolutely are.

[xcooling]

@ Matthew N. Wright : open your own thread if u want to advertise your company/service.

instead of wasting your time becoming a member of uabb.. rather opt for a truebusiness ID from geotrust or one of the many extended validation ssl providers, they will audit your information and make sure you are who you say you are.

This is about mybitcoin.com being offline, not about your own service.

[the founder]

If it were an honest service.. there would be a notice or something..

closing down.. and keep quiet is no way to run a company.

problem with bitcoin is the majority of the services have no standards or any kind of proper business knowledge. Honest opinion its very mickey mouse.

That's exactly the reason behind starting the United Association of Bitcoin Businesses (uabb.org). Check it out.

Not a bad idea,  I wanted to register flexcoin there but it won't let me create an account    literally clicking on the buttons wouldn't open any forms.

[Christian Pezza]

I'm creating a business account on your page now.

Edit nvm your links seem broken

And I think folks from now on shouldnt trust anyone who isn't public/active in the community.  Because most serious businesses absolutely are.

Apologies. I'm migrating my server and experience some issues as well as being in the middle of developing the backend. Expect it by next week. Thanks for your help FXRiot. I'm really impressed by the work you did for us this last week.

instead of wasting your time becoming a member of uabb.. rather opt for a truebusiness ID from geotrust or one of the many extended validation ssl providers, they will audit your information and make sure you are who you say you are.

I think you don't understand our services, but I can only blame myself for having not finished the site yet. Geotrust provides 'verification' and SSL certificates. We provide standards to the entire Bitcoin community, escrow and dispute mediation services, ratings systems for consumers and merchants, fraud alerts, and function as an investigative body for fraud in the Bitcoin community. Does Geotrust even accept Bitcoin? Let me know when they do.

@ Matthew N. Wright : open your own thread if u want to advertise your company/service.

...

This is about mybitcoin.com being offline, not about your own service.

Couldn't agree more. Apologies for the derail.

I love this guy
I mean not literary   

[xcooling]

Contact one for the manufactures in korea or taiwan and have a batch of 100+ made for you.

You can even get them to stick 2x 6870's per a pcb. which would work out the same cost as a 5850 and return more mhs.

[xcooling]

Yeah it really is.. comes down to money .. you have it, they want it.

100 gpus @ us$150 = us$15 000

Contact jetway, had really good dealings with them in the past.

 Jetway Information Co., Ltd.
 Address: Ltd.9F., No.207, Sec. 3, Beixin Rd., Xindian City, Taipei
 Tel: 886-2-89132711
 Fax: 886-2-89132722
 Web: www.jetway.com.tw
Info: sales@jetway.com.tw
 Support:technic@jetway.com.tw

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BTW: price per mhs .. 5770 cant be beaten, also it is the most efficient in mhs per watt