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Author Topic: Bitmit - Bitcoin shopping mall - Bitcoin market place - Bitcoin auction house  (Read 131516 times)
giszmo
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November 11, 2013, 07:27:06 PM
 #1481

Well since BitMit is in the toilet, what now?

Try halfpricedigital.com  You can buy/sell auction items for BTC using a coinbase account!  Let me know what you think.

You have 8 posts and it feels like they are all just spam to this one thread. Hey, listen, we got your message. Cut it out.

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uk1
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November 11, 2013, 07:29:05 PM
 #1482

Well since BitMit is in the toilet, what now?

Try halfpricedigital.com  You can buy/sell auction items for BTC using a coinbase account!  Let me know what you think.

You have 8 posts and it feels like they are all just spam to this one thread. Hey, listen, we got your message. Cut it out.
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November 11, 2013, 08:07:13 PM
 #1483

This kind of sale, if it was one, i would expect from Gox, but Bitmit had a functioning information policy and actually cared about their business and their customers.
Very strange closure/sale indeed.  

If it has been bought by eBay, maybe the option was:  "accept a large amount from us, or we will sue!" (maybe they would not have won in court, but it does not stop them from trying and costing bitmit lots to defend)

EDIT: also why have all the prople that were offering to buy, in this thread gone very quiet?
did any of you receive a reply from bitmit?

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November 11, 2013, 08:35:00 PM
 #1484

This kind of sale, if it was one, i would expect from Gox, but Bitmit had a functioning information policy and actually cared about their business and their customers.
Very strange closure/sale indeed. 

liked the site a lot, sad to see it go.
razorfishsl
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November 11, 2013, 11:22:48 PM
 #1485

what makes you think they were trading illegally??? What should these addresses "AUDIX HI-TECH INVESTMENT CO., LIMITED " etc. tell us?

Because IF you did a bit of research they sell RESISTORS/semiconductors…… and are an OLD/established company.

1.WHYTF would a company that has an established business in semis/resistors go into the auction business paid for with BTC?
2. WTF would they RISK NOT having a company/trading BLIND, when their other businesses are FULLY registered with the government?
3. WHY all the secrecy and unprofessionalism?

More likely to be  rouge employee/employees doing business from the company address..

I've had some mainlanders doing a bit of digging and there IS a bigger picture here……..
This shit expands into a fair number of Chinese based forums as well… all the way up to Shanghai/ Beijing and some really out of the way provinces…  and it is not 'BitMit' is closing type of shit…….

High Quality USB Hubs for Bitcoin miners
https://bitcointalk.org/index.php?topic=560003
razorfishsl
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November 12, 2013, 04:15:03 AM
 #1486

Oh….. today they stated they were not connected with this company………
and one LAST point

Business Registration ordinance (Chapter 310)
Clearly states that ALL businesses in Hong Kong must CLEARLY display the business registration license at ALL places of business.

Bitcoin is not going to police itself,
So if we GENUINELY want it to be a success, we all need to pull together and start shining some flashlights
on any dodgy motherfuckers we think are out there, but at the same time support any genuine companies.
 
There is only so much house cleaning any government is prepared to do before they say…….enough…

High Quality USB Hubs for Bitcoin miners
https://bitcointalk.org/index.php?topic=560003
Stake
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November 12, 2013, 05:48:12 AM
 #1487

Used bitmit before I even registered on this forum.

Great site!

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November 12, 2013, 06:50:27 AM
 #1488


2.
Quote
CR No.:   0252031
Company Name:    AUDIX HI-TECH INVESTMENT CO., LIMITED
敦吉科技投資有限公司
Company Type:    Local Company
Date of Incorporation:    12-MAY-1989
Address
FLAT B & C 20F INFOTECH CENTRE 21 HUNG TO ROAD Kwun Tong, Hong Kong



Contact Details:

+852 2799 7575 (Hong Kong Office)
+86 75526639496 (Shenzhen office)




Oh….. today they stated they were not connected with this company………
and one LAST point

Business Registration ordinance (Chapter 310)
Clearly states that ALL businesses in Hong Kong must CLEARLY display the business registration license at ALL places of business.

Bitcoin is not going to police itself,
So if we GENUINELY want it to be a success, we all need to pull together and start shining some flashlights
on any dodgy motherfuckers we think are out there, but at the same time support any genuine companies.
 
There is only so much house cleaning any government is prepared to do before they say…….enough…



I just called up Sindy Song, she is the manager of Audix Hi-Tech Investment Co. She knows nothing about bitmit.net
Never heard of the site...not an investor...nothing...Also called up Toyo Kuni Electronics...same response!!!


what makes you think they were trading illegally??? What should these addresses "AUDIX HI-TECH INVESTMENT CO., LIMITED " etc. tell us?


That is clearly what they WANTED you to think...  it TELLS me that you are a bloody idiot!

MakeBelieve
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November 12, 2013, 12:41:08 PM
 #1489

It was a great site and it will be missed greatly. It will take a long time to build up trust again after the new owner.

On a mission to make Bitcointalk.org Marketplace a safer place to Buy/Sell/Trade
starsoccer9
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November 12, 2013, 10:31:34 PM
 #1490

For those of you who havent checked the site recently they not removed the whole paragraph about buying
"We are planning to let another company take over Bitmit. Meanwhile we deactivated the site to let you withdraw your funds & complete your orders. The chances are good that Bitmit will be continued."

I guess instead of respond to my many emails about buying your site you just dont respond and go with someone else. it seems I will also need to post a scammer accusations thread for Chan/Tosaki as I have btc stuck in escrow which I expect will end up being lost.

WhitePhantom
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November 13, 2013, 01:01:33 AM
 #1491

it seems I will also need to post a scammer accusations thread for Chan/Tosaki as I have btc stuck in escrow which I expect will end up being lost.

I also have some BTC stuck in escrow.  I believe I'll probably get it in the end...Not worried at this point.
razorfishsl
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November 13, 2013, 01:13:28 AM
 #1492


No what is going to happen is that there will be some internal discussion and the site will be sold/transferred to someone even more dodgy who is prepared to take the risks that the current operators are not.

With each slide down hill, any capital transferred into the business will become higher risk.
And yep there have been several teams bidding on this business, even in HK… all without replies….

High Quality USB Hubs for Bitcoin miners
https://bitcointalk.org/index.php?topic=560003
HalfPriceDigital
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November 13, 2013, 01:39:22 AM
 #1493


No what is going to happen is that there will be some internal discussion and the site will be sold/transferred to someone even more dodgy who is prepared to take the risks that the current operators are not.

With each slide down hill, any capital transferred into the business will become higher risk.
And yep there have been several teams bidding on this business, even in HK… all without replies….


The problem is, I think, that BitMit and most other BTC auction sites offer escrow, which requires government licenses to do legally.  Since they don't get an escrow license they end up trying to fly under the radar and they don't register their company, etc.  Then when the government does take notice of the site and shuts it down the costumers who have their money tied up in escrow have no idea who really has their BTC.

Not only that, but BTC users get used to trusting companies that they really shouldn't.  Why should customers trust sites with escrow that don't have a registered company?  I don't think they should.  The site could get shut down by the government or the owner could run off with the escrow funds.

moderate
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nearly dead


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November 13, 2013, 01:54:55 AM
 #1494


No what is going to happen is that there will be some internal discussion and the site will be sold/transferred to someone even more dodgy who is prepared to take the risks that the current operators are not.

With each slide down hill, any capital transferred into the business will become higher risk.
And yep there have been several teams bidding on this business, even in HK… all without replies….


The problem is, I think, that BitMit and most other BTC auction sites offer escrow, which requires government licenses to do legally.  Since they don't get an escrow license they end up trying to fly under the radar and they don't register their company, etc.  Then when the government does take notice of the site and shuts it down the costumers who have their money tied up in escrow have no idea who really has their BTC.

Not only that, but BTC users get used to trusting companies that they really shouldn't.  Why should customers trust sites with escrow that don't have a registered company?  I don't think they should.  The site could get shut down by the government or the owner could run off with the escrow funds.

Let me understand what you are saying.

Users shouldn't trust a site with escrow, instead they should trust sites without any escrow service. So they get scammed on every transaction, and the site has no way to help the users. Is that it ? Nice FUD you got there, but you are doing it wrong. This is not how you promote your new competing site.
User705
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November 13, 2013, 02:21:08 AM
 #1495

It's not FUD it's reality.  If bitcoin is money and it appears the various governments are leaning that way then the various things you do with it like escrow and online wallets are regulated activities and involve the same mountainous paperwork and barriers to entry just like traditional escrows and banks.
Welsh
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November 13, 2013, 02:22:11 AM
 #1496

Escrow should always be on a site like this. Although it should be registered. No point in cutting corners.
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November 13, 2013, 04:12:29 AM
 #1497

Escrow should always be on a site like this. Although it should be registered. No point in cutting corners.
Registering an escrow is not that easy.  Not sure which country you are from but in most developed countries an escrow is a very regulated activity because they handle large amounts of money and titles to real estate.
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November 13, 2013, 04:14:24 AM
 #1498

Escrow should always be on a site like this. Although it should be registered. No point in cutting corners.
Registering an escrow is not that easy.  Not sure which country you are from but in most developed countries an escrow is a very regulated activity because they handle large amounts of money and titles to real estate.

It may not be easy. But, a site which had a lot of traffic and a lot of people visiting it daily should be keeping up with all the requirements. We are assuming this could of caused the selling of the site. If so because of this reason many people have lost Bitcoin.
bernard75
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November 13, 2013, 04:28:38 AM
 #1499

Quiz: Which company involved with BTC and already located in Asia, would have the cash(hint: not for their customers) to buy Bitmit and would want to keep it top secret, because the reputation of that company would drive many people away?
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November 13, 2013, 05:05:10 AM
 #1500

Quiz: Which company involved with BTC and already located in Asia, would have the cash(hint: not for their customers) to buy Bitmit and would want to keep it top secret, because the reputation of that company would drive many people away?
Do I get a prize if I guess right.  Could it be a company who had many failing auctions with a company who wanted way to much info just to buy a metal box.   Wink
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