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Author Topic: Flexcoin Bank  (Read 1235 times)
toddtervy
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August 15, 2011, 04:23:48 AM
 #1

I was reading the thread on Flexcoin "Flexcoin is Live to Everyone", so i went and checked out this flexcoin site.  I can't post in the normal threads since still a newbie, but wanted to make sure everyone saw how they charge minimum of .01 bitcoin and  up to 0.5% on transfer to any kind of external bitcoin address, so there is no maximum on the fee.  The site is basically a scam.

Get off my c@ck !
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nmat
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August 15, 2011, 05:31:02 AM
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I was reading the thread on Flexcoin "Flexcoin is Live to Everyone", so i went and checked out this flexcoin site.  I can't post in the normal threads since still a newbie, but wanted to make sure everyone saw how they charge minimum of .01 bitcoin and  up to 0.5% on transfer to any kind of external bitcoin address, so there is no maximum on the fee.  The site is basically a scam.

The word scam in this forum must have a different meaning. I need to revise my english...

Well, they give you interest in your money. If you have lots of BTC savings and if you don't  mind trusting a third party, you can deposit the money at flexcoin and earn monthly interest. This interest comes from those fees, as they explain in the FAQ. The fees are also used to pay miners and to keep the service running.
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August 15, 2011, 09:14:48 AM
 #3

That's the point, nothing stop them to just disappear with your BTC. Read the "TRUST NO ONE" thread, here in this world it is a very possible thing
timmey
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August 15, 2011, 10:09:28 AM
 #4

If you don't trust an online wallet service then don't use it. Do you have any real evidence that flexcoin is a scam? The fees you mentioned are clearly listed on their site, how is that a scam?

I don't know if anyone has checked these information yet but they also have a real address listed on the site:
http://www.flexcoin.com/?page_id=208

Quote from: flexcoin.com
Flexcoin, LLC
1 South Second Street
Pottsville, PA 17901

Fax: 570.628.3887

Flexcoin Support

Facebook : http://www.facebook.com/flexcoin
Twitter : http://www.twitter.com/flexcoin

Technological Partner:

Yooter Interactive Marketing, LLC
1 South Second Street
Pottsville, PA 17901

http://www.yooter.com

Don't label something a scam if you do not have any evidence.

I will sign you up anonymously at realitykings.com (http://rk.com)[NSFW] for Bitcoins with 20% discount!
http://timmey.orgfree.com/s.php
read all details in this thread (https://bitcointalk.org/index.php?topic=3242Cool
JohnRetardKeynes
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August 15, 2011, 10:27:20 AM
 #5

That's the point, nothing stop them to just disappear with your BTC. Read the "TRUST NO ONE" thread, here in this world it is a very possible thing

Isn't that true of most banks? Banking revolves around trust. I'm sure there will be a market for trustworthy bitcoin banks. In these early days where major ones aren't established, one just has to be careful. I know at present i feel safer keeping my own bitcoins.

"In truth, the gold standard is already a barbarous relic." - Monetary Reform (1924), p. 172

I spent all my bitcoins on women and beer. The rest I wasted.

Help out a lecherous old drinker: 12nWUam1EdFbf2g4xvocnUHbwuWM1QSzDJ
nmat
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August 15, 2011, 11:38:07 AM
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That's the point, nothing stop them to just disappear with your BTC. Read the "TRUST NO ONE" thread, here in this world it is a very possible thing

If you don't like it, then don't use it. Just don't go around screaming scam because you are too afraid of everything.

I think ewallets will play an important role in bicoin's success, but they must prove themselves trustworthy. I know that you should store your wallet offilne with triple encryption using an encrypted volume which is inside a safe in a locked basement without windows. However, this approach isn't usable (yes, there is a world out there where people don't know what an hash is). An ewallet could provide security + usability, just like a real bank does.
Gabi
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August 15, 2011, 11:44:42 AM
 #7

Evidence? Trust no one.

These "bitcoins ewallet/banks" aren't like real banks, as mybitcoin and other showed they can simply DISAPPER and nothing can be done. Not even know who was behind them.

So, in doubt, everything is a scam. And, as time pass, it seems i am right...


Btw you guys would really like EVE Online, with your "don't say it's a scam if you have no evidence" you will probably fall in all existing EVE scams  Grin Grin
timmey
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August 15, 2011, 12:10:08 PM
 #8

These "bitcoins ewallet/banks" aren't like real banks, as mybitcoin and other showed they can simply DISAPPER and nothing can be done. Not even know who was behind them.
Of course they aren't like real banks, they are an online payment service just like Paxum, Dwolla or PayPal. But unlike the owner of mybitcoin the owners of FlexCoin have a real name and address.

Btw you guys would really like EVE Online, with your "don't say it's a scam if you have no evidence" you will probably fall in all existing EVE scams
I never heard of "EVE Online" but Google says it's a "massive multiplayer online roleplaying space game". Comparing Bitcoin to some random stupid mmprog.... why not? Grin

I will sign you up anonymously at realitykings.com (http://rk.com)[NSFW] for Bitcoins with 20% discount!
http://timmey.orgfree.com/s.php
read all details in this thread (https://bitcointalk.org/index.php?topic=3242Cool
Gabi
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August 15, 2011, 12:34:49 PM
 #9

Why? Here is WHY

http://www.phaserinc.com/index.html

The biggest scam in EVE history, more than a thousand of billions of ISK scammed. Worth like 50.000$

Quote
Today is the day many expected to come.
Today, the 12th of August 2011, is the day where it all comes together.
Phaser Inc. is done, over, finished.


After a stunning period of eight months, we decided it's enough.

No more new accounts.
No more mails.
No more payout days.
No more ISK.

No more Phaser Inc.
--

Most likely, this will cause a lot of questions.
The most important question will be answered right here, right now.
The ISK is gone; you will not see it ever again.
You've invested it, got a chance on some profit, but it turned out to be not the best choice you've ever made. That's how investing works. At least, that's how it went for the most of you.

Another scam some time ago was about 790 billions.

What sort of scam? Exactly what this thread is about, a bank who pay interests.

PiGames
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August 15, 2011, 01:06:07 PM
 #10

Interesting to see the address listed for flexcoin as Pottsville pa.
I used to live there. Went to HS around the corner.
On a more on topic note. As stated before. If you don't trust them, don't use them. You can voice your concerns but I wouldn't cry wolf just yet. Doesn't seem they've done anything wrong.
The fees are probably in place to hedge against massive withdrawals which would cripple their business model.
gochk
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August 16, 2011, 03:51:10 PM
 #11

BTC is not regulated; so its up to you to protect your btc yourself. If you don't trust the "bank" or any site, then do not use it. It is very possible that the site will just claim being hacked and pays you 40% (was it 40%?) of what you had in there, just like www.mybitcoin.com. Of course, I didn't follow up on the www.mybitcoin.com; so I can't say whether it's actually hacked or not; or even if there was an investigation of some sort.

Nothing is safer than multiple copies of your own encrypted wallet.dat in your own keep.
casascius
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August 16, 2011, 05:04:39 PM
 #12

A Pottsville PA-based exchange would be a great way to bring Bitcoins to the Amish community.  They could buy their BTC in person and receive them on a paper wallet.

Companies claiming they got hacked and lost your coins sounds like fraud so perfect it could be called fashionable.  I never believe them.  If I ever experience the misfortune of a real intrusion, I declare I have been honest about the way I have managed the keys in Casascius Coins.  I maintain no ability to recover or reproduce the keys, not even under limitless duress or total intrusion.  Remember that trusting strangers with your coins without any recourse is, as a matter of principle, not a best practice.  Don't keep coins online. Use paper wallets instead.
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