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Author Topic: Bitmit - Bitcoin shopping mall - Bitcoin market place - Bitcoin auction house  (Read 131721 times)
Welsh
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November 21, 2013, 02:02:36 PM
 #1561


I know right! i offered a few thousand which i thought was generous...but after hearing about the hack...i feel like i offered too much!!

I think I agree. With everything involved it's not going to be worthwhile to anyone who hasn't got money to invest. For the site to reach it's up most potential. It needs to be made legal. One of the concerns about the site is that it isn't technically legal as it doesn't have all the licensing required. For example the escrow.

As well, as losing a lot of trust from it's members because for one they are not giving enough time for people to withdraw. Not informing people of the new owner. Basically, the customers have been left in the dark for far to long. Without any useful information. We don't know exactly know when the site is going to be up and running and if the new owner is going to provide any details about themselves.

Bitmit, has lost the edge now. Because of the sale and being down whilst the price has sky rocketed. There has been many successful competitors which have got thousands of new users within a space of a month.

Bitmit has also been deemed not very secure in the last few months. Therefore the new owner would have to be pretty good at coding. As this will be a very big target for any hackers because of the amount of coins involved.

If someone is serious about bitmit. Then they need to consider possible legal issues. Regaining the trust of their previous customers. Which could take a lot of time and a huge amount of money.
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mralbi
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November 21, 2013, 07:33:30 PM
 #1562

An offer of 250.000 € was also not enough for them. But in the light of the security breach plus user passwords hashed only unsecurely is definitely not worth it. Also every day the site is down will just decrease the value as users are moving elsewhere.

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November 21, 2013, 09:03:11 PM
 #1563

We need some VC capital up in this space to make a project like this truly viable.
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November 21, 2013, 10:30:07 PM
 #1564

why not just start from scratch with a new good site instead of wasting money on the old dog
Welsh
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November 21, 2013, 10:47:24 PM
 #1565

why not just start from scratch with a new good site instead of wasting money on the old dog

Could be better. As this site has lost a lot of trust & is asking way to much for the site. They have refused very high offers which they should of accepted. Considering the security breaches and all the other problems  involving the escrow. It would need to be coded and pretty much start from scratch anyway.
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November 22, 2013, 02:43:21 PM
 #1566

We need an auction, guys. There's no better way than an auction to determine value of something.

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November 22, 2013, 03:44:25 PM
 #1567

You old farts kill me. BitMit is worth every bit of 500,000 dollars. Bitcoin is set to break into everyday life. buying BitMit will make someone a hell of a lot of cash. Problem is its a risky investment, but if it pays off it would be well worth it.


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November 22, 2013, 06:12:34 PM
 #1568

You old farts kill me. BitMit is worth every bit of 500,000 dollars. Bitcoin is set to break into everyday life. buying BitMit will make someone a hell of a lot of cash. Problem is its a risky investment, but if it pays off it would be well worth it.
No it's not.  It doesn't have enough of a first-mover's advantage to be worthy of 500,000 dollars, and the coding needs to be redone anyway, so there's little in actual assets.  I wouldn't pay 500,000 in goodwill for an auction site that could easily be eclipsed by someone with 250k in venture capital money and a crew of proper coders working for 3 months.
HalfPriceDigital
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November 23, 2013, 12:55:12 AM
 #1569

I was surprised to learn that BitMit only had about 30,000 activated accounts.  Seems like a pretty low number.  But it's hard to say how many people would be signing up now due to the increased media attention to Bitcoin.  BitMit definitely missed a lot of potential by closing when it did.

I think BitMit should have just stayed open after the hack but disabled escrow and referred users to a 3rd party escrow provider.  However, the government may have also caught up with BitMit and forced them to close due to the company not having an escrow license.

elbill
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November 23, 2013, 01:58:58 PM
 #1570

Only 30,000 accounts .... would be more profitable to start a new project than buying a site disabled more than a week.
Ford
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November 23, 2013, 05:30:49 PM
 #1571

An offer of 250.000 € was also not enough for them. But in the light of the security breach plus user passwords hashed only unsecurely is definitely not worth it. Also every day the site is down will just decrease the value as users are moving elsewhere.

I think they will regret not "biting your hand off" for that offer!

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November 23, 2013, 08:04:14 PM
 #1572

I was surprised to learn that BitMit only had about 30,000 activated accounts.  Seems like a pretty low number.  But it's hard to say how many people would be signing up now due to the increased media attention to Bitcoin.  BitMit definitely missed a lot of potential by closing when it did.

I think BitMit should have just stayed open after the hack but disabled escrow and referred users to a 3rd party escrow provider.  However, the government may have also caught up with BitMit and forced them to close due to the company not having an escrow license.

Do they need an escrow license when escrowing something that is not recognized to have value by the government? :B

BTC: 1recatirpHBjR9sxgabB3RDtM6TgntYUW
Hold onto what you love with all your might, Because you can never know when - Oh. What you love is now gone.
wheatrich
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November 23, 2013, 08:21:40 PM
 #1573

as a seller, bitmit's still way better than all these sites.  I'd switch back in a second... well presuming the security flaws and stuff were fixed...
User705
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November 23, 2013, 08:40:08 PM
 #1574

I was surprised to learn that BitMit only had about 30,000 activated accounts.  Seems like a pretty low number.  But it's hard to say how many people would be signing up now due to the increased media attention to Bitcoin.  BitMit definitely missed a lot of potential by closing when it did.

I think BitMit should have just stayed open after the hack but disabled escrow and referred users to a 3rd party escrow provider.  However, the government may have also caught up with BitMit and forced them to close due to the company not having an escrow license.

Do they need an escrow license when escrowing something that is not recognized to have value by the government? :B
Please enlighten us which government doesn't recognize that bitcoin has value?
mackstuart
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November 25, 2013, 06:44:21 AM
 #1575

Does anyone else have any coins inside of bitmit besides me???

/\/\
tosaki
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November 25, 2013, 07:28:43 AM
 #1576

There is a ssl mismatch and bitmit is available only via http:// for some hours. If you try to access the site with https it wont work.
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November 25, 2013, 10:20:46 AM
 #1577

There is a ssl mismatch and bitmit is available only via http:// for some hours. If you try to access the site with https it wont work.

TOSAKI!

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demonmaestro
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November 25, 2013, 10:50:48 AM
 #1578

And now bitmit is no more.. Cry

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November 25, 2013, 10:57:22 AM
 #1579

alive till 20th dec

tonyq
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November 25, 2013, 11:50:43 AM
 #1580

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