CryptoThrift question

[pawel7777]

Anyone has any experience with CryptoThrift? I haven't used it yet, but I'm looking at this listing:

https://cryptothrift.com/auctions/dogecoin-crypto-coins/56700-doges-3/

56700 doges for 0.015 BTC (currently worth 0.04), escrow accepted, seller has no feedback tho.

Is there any reason nobody bought it yet? Is there any risk for the buyer (using escrow) if the seller refuses to sell, escrow fees or anything?

Am I missing something?

[hilariousandco]

Well if you use the provided escrow correctly I can't see how you will get scammed out of money on this.

Regarding escrow fee:

cryptothrift is free, we only charge 1% fee or transaction fee (whichever is higher as per above) to the buyer if escrow was selected upon checkout. The site keeps escrow fee even in the event that a refund was processed. Buyers will NOT be charged the 1% fee if the sale was cancelled by the seller

.

https://cryptothrift.zendesk.com/hc/en-us/articles/200644364-Fees-and-Charges

[MRBONG411]

This was something I just posted in another crytpothrift thread. Not sure if escrow is safe on cryptothrift anymore or if you will get a refund in a timely manner as messages have been going unanswered.




Not so fast on getting replies anymore. They recently made it where you can only list items for 10 days and then you have to manually relist each one if you want which takes hours. I don't mind listing something in the begining but I don't want to spend hours relisting every 10 days for stuff that doesn't really sell.

I emailed asking about a bulk relisting option or something and have not gotten an answer.

More recently I bid on a rental and the person renting it already had one bad feedback so I messaged the seller beforehand asking if it was a legit listing. They replied yes it was so I bid and paid and put the money in escrow.

I message the seller with all my pool info and then I receive a message back saying I needed to pay for the listing. I messaged them back letting them know I did pay and the funds were safely in escrow. They then messaged me back to release the funds and I am unsure if they did not know what escrow was or they were trying to rip me off so I contacted cryptothrift to ask them to contact the seller to to let them know the funds were safe.

After about a day there was no response from cryptothrift and they never bothered to contact the seller to explain how things work so I just went ahead and requested a refund.

Now though after another day there is no contact and no refund from escrow.

I know I have read things in the past here were the owners said they are family men and are good guyss but don't have a lot of time but some things need to get handled more qquickly it seems. Not sure if they need to hire someone or what but as it is now I just want my BTC returned in a timely manner and I think the seller should be warned or banned from the site.

Didn't want to really post here and make it public but felt I didn't have any other choice since message have been going unanswered.

Listed below is the listing I won.


https://cryptothrift.com/auctions/mining-contracts/1-day-4-ths-mining-3/

[hilariousandco]

Having to relist something manually every ten days isn't good and a pain. I think they should make it every 30 with an option to auto relist for very active members or something. And you were right not to release escrow as the seller was most likely trying to scam you.

[MRBONG411]

Cryptothrift came through and issued a refund for the auction and I guess placed the sellers account under review.

They also said they may be working on a bulk relist feature in the future.

I really like the idea of a bitcoin auction site and I hope cryptothrift will be around for quite some time.

[caivi]

It's my first time posting here but I just wanted to share my experiences in case anyone wants to use CryptoThrift. They are pretty much hit or miss for me.

While I have made several successful purchases that went smoothly, I have also encountered a lot of scammers.

A few incidences involved the seller asking me to release the escrow, otherwise they won't deliver the item. No buyer in their right mind would release the escrow without receiving the item. One seller then gave me a negative rating and called me a scammer simply because I won't release the escrow until I get the amazon gift code. Scammers playing the victim roles! 

Another incident involved amazon gift cards again. The seller tried to sell me a used gift code. Good thing I checked the code first before releasing the escrow. The seller kept insisting the code he gave me is valid then called me a scammer because I won't release the escrow!

On two of the four incidences, CryptoThrift did come back to me after I filed a report and they gave me my refund after 3 days which was good.... though they took 0.0001 BTC on each refund as the transaction fee lol but whatever at least I got most of my money back. For the other two, I'm still waiting....

Even though they refund you after 3 days, it's still quite stressful to deal with the matter and to try to reason with the scammers so I think I will stop using CryptoThrift for now unless they do something to minimize the scammers on their site. For now I'll keep stick with Purse.io for my purchases.

[Duetschpire]

It's my first time posting here but I just wanted to share my experiences in case anyone wants to use CryptoThrift. They are pretty much hit or miss for me.

While I have made several successful purchases that went smoothly, I have also encountered a lot of scammers.

A few incidences involved the seller asking me to release the escrow, otherwise they won't deliver the item. No buyer in their right mind would release the escrow without receiving the item. One seller then gave me a negative rating and called me a scammer simply because I won't release the escrow until I get the amazon gift code. Scammers playing the victim roles! 

Another incident involved amazon gift cards again. The seller tried to sell me a used gift code. Good thing I checked the code first before releasing the escrow. The seller kept insisting the code he gave me is valid then called me a scammer because I won't release the escrow!

On two of the four incidences, CryptoThrift did come back to me after I filed a report and they gave me my refund after 3 days which was good.... though they took 0.0001 BTC on each refund as the transaction fee lol but whatever at least I got most of my money back. For the other two, I'm still waiting....

Even though they refund you after 3 days, it's still quite stressful to deal with the matter and to try to reason with the scammers so I think I will stop using CryptoThrift for now unless they do something to minimize the scammers on their site. For now I'll keep stick with Purse.io for my purchases.

Caivi, thanks a lot for your feedback! We appreciate users trying the site and letting us know how we can improve our service.

We are looking into ways to reduce the scam attempts on the site, it's easier said than done due to the nature of Bitcoin, but we haven't given up yet on brainstorming new ideas.
We are also working on the feedback system and will be limiting the conditions where sellers and buyers can exchange feedback. In your case, once you've paid for an item you should be able to give the seller a feedback, but the seller should only be able to give you a feedback after they mark the item as shipped.

We are also working on an auto-suspend feature which will crawl the sellers' accounts and suspend those with xx% of bad feedback taking into account the age of the account and the number of sales they have.

As for the refunds we give the sellers the benefit of the doubt to respond to the refund request by shipping the item or contacting the buyer to resolve the issue. A lot of the sellers do as they know they would otherwise lose on a sale. Your refunds are being processed and should be send out shortly.

[ajw7989]

I used the site frequently in the past year or so. The site is great if you can weed out the scammers. I personally never had a problem as a seller or a buyer but just be careful. The main problem with the site now is the lack of traffic. A lot of users left when they had problems with escrow but overall i would recommend you give them a try.

[funtotry]

Anyone has any experience with CryptoThrift? I haven't used it yet, but I'm looking at this listing:

https://cryptothrift.com/auctions/dogecoin-crypto-coins/56700-doges-3/

56700 doges for 0.015 BTC (currently worth 0.04), escrow accepted, seller has no feedback tho.

Is there any reason nobody bought it yet? Is there any risk for the buyer (using escrow) if the seller refuses to sell, escrow fees or anything?

Am I missing something?

Ask yourself
Why would you unload dogecoin, which could be sold at an exchange VERY quickly since its a very popular currency, for 3x its initial value
Second, the seller has zero feedback so why would you trust him in the first place.
If he can escrow, then try it out but I doubt he will go through with tripling YOUR money

[caivi]

We are looking into ways to reduce the scam attempts on the site, it's easier said than done due to the nature of Bitcoin, but we haven't given up yet on brainstorming new ideas.
We are also working on the feedback system and will be limiting the conditions where sellers and buyers can exchange feedback. In your case, once you've paid for an item you should be able to give the seller a feedback, but the seller should only be able to give you a feedback after they mark the item as shipped.

We are also working on an auto-suspend feature which will crawl the sellers' accounts and suspend those with xx% of bad feedback taking into account the age of the account and the number of sales they have.

As for the refunds we give the sellers the benefit of the doubt to respond to the refund request by shipping the item or contacting the buyer to resolve the issue. A lot of the sellers do as they know they would otherwise lose on a sale. Your refunds are being processed and should be send out shortly.

Thanks for replying so quickly and for sorting out the negative feedback the scammers left on my account. Just waiting for the refund on one item since the seller has already been suspended, hope someone can get back to me on that .  

Some suggestions I could think of are separating the feedback as a buyer and as a seller. Like this one guy (godofstarbucks or something) has 39 positives and 9 negatives, but most of the positives are as a buyer but his track record as a seller is horrible. Also it seems that some of the positive feedback are fabricated, ive seen account with 30+ positives but when you check half of came from one person with a suspended account...

[crazyivan]

This seems interesting, a crypto auction website.

Have you people personally used it and what is your experience?

[favdesu]

This seems interesting, a crypto auction website.

Have you people personally used it and what is your experience?

I use it as a seller for some time now. Admins are good and never had a dispute so far.

[jdebunt]

I have used CryptoThrift a few times in the past, almost got scammed once due to a fake escrow email but I alerted CryptoThrift staff. Got the money refunded & the seller got booted

[caivi]

The Cryptothrift admins are great, they respond quickly and I feel that they are really doing their best. That said, the website is crawling with scammers!!!

Below is a summary of my 10 transactions in Cryptothrift:

$5 amazon gift code - successful
$150 paypal transfer - successful
$200 paypal transfer - successful

$30 paypal transfer - seller never responded after the payment; Admin refunded the escrow
$20 paypal transfer - seller was a scammer/wanted me to release escrow first; Admin refunded the escrow
$50 amazon gift code - seller was a scammer/wanted me to release escrow first; Admin refunded the escrow
$50 amazon gift code - seller was a scammer/gave me an invalid code; Admin refunded the escrow

$30 paypal transfer - seller sent payment but then reported it as unauthorized transaction on Paypal; nothing Admin can do because escrow was released
$95 paypal transfer - seller sent payment but then reported it as unauthorized transaction on Paypal; nothing Admin can do because escrow was released

The last two transactions is more of a Paypal issue, I guess. But just beware. 7 of the 10 transactions were scammers. 

[Duetschpire]

On behalf of CryptoThrift, I would like to thank those who have used the site and have given us such postive feedback.
For others who haven't tried the site and have any questions, please don't hesitate to ask here or even via our support portal/email, we'll be glad to clear anything up.

I would also like to take this opportunity to shed some light on few points:

- We are 100% transparent, CryptoThrift is a registered business owned by Australian developers and registered in Australia.
- We went live in September 2013 and have achieved contunual growth in the number of users, sales, and of course support requests.
- We received over 2,100 support tickets last month ranging from general questions to escrow disputes and refunds, and are proud to have been maintained over 94% customer satisfaction.
- Although we were subject to a security breach in October of last year, all customer funds that were lost were immediately returned back to them at the owners expense.  At the same time we introduced an improved escrow system which is more secure and holds a much higher percentage of escrow funds in cold storage.
- Traffic to the site continues to increase, with the number of new users having tripled within the last 6 months. 
- If you're a user on the site and would like to share your experience with the community, please apply to become an affiliate and include your referral URL so you can be rewarded for promoting us

Again, don't hesitate to ask any questions, we might not be on this forum 24/7, but we do monitor CryptoThrift related posts regularly and will reply ASAP.

Cheers,
Ahmad
Founder CryptoThrift.com

[mmsen]

'jacky' on cryptothrift is a thief.

Also to be found on icq (651191522).

May give this email address - tongere.j@gmail.com

Be warned.

Informed the mods, no response.

[favdesu]

'jacky' on cryptothrift is a thief.

Also to be found on icq (651191522).

May give this email address - tongere.j@gmail.com

Be warned.

Informed the mods, no response.

how did he scam you? I mean there's forced escrow on the site. could you elaborate please?

[mmsen]

'jacky' on cryptothrift is a thief.

Also to be found on icq (651191522).

May give this email address - tongere.j@gmail.com

Be warned.

Informed the mods, no response.

how did he scam you? I mean there's forced escrow on the site. could you elaborate please?

It's largely my fault.

I usually try and contact sellers before buying, the guy didn't respond until after, outside the realms of cryptothrift.

Then we attempted to do the deal. Offered to send in instalments. Took the first instalment, no response.

So as far as I'm concerned dude is a scammer.

[mmsen]

In another annoying situation with another fool (exchanger15)

Has promised to rectify mistake only if the bad feedback that I left is removed.

Crypto is in escrow, I've asked for it to be refunded.

[jdebunt]

In another annoying situation with another fool (exchanger15)

Has promised to rectify mistake only if the bad feedback that I left is removed.

Crypto is in escrow, I've asked for it to be refunded.

Cryptothrift escrow should release the funds back to you rather quickly