Bitcoin Randomizer, just a stupid pyramid scheme

[gigabytecoin]

Just to keep this up...

BitLex has been last active yesterday. I wonder why there is no statement regarding the Randomizer....

Perhaps because it really is "just a stupid pyramid scheme" ... ?

[Yeti]

Soooo... when can we expect to have it up again? I have 3 unconfirmed referrals, they are probably just waiting to see when it's safe to send the coins.

I joined BTCGuild recently and like their security system very much. You can switch on a so called "Payout Lock" that informs you via e-mail when your wallet address is changed and makes transfers impossible for the next 24 hours. So checking once a day to see if the bcaOUT address is still mine should suffice.

Of course that only prevents CSRF attacks and the likes, if somebody hacks the database it's no good (except if you store those addresses in another file on the harddrive for checks).

[rlh]

Soooo... when can we expect to have it up again?

I would assume that this service will be up, eventually, but Bitlex also runs an auto bitcoin-to-lindens exchange.  According to his blog, Linden Labs has suspended his account.  I assume he's probably more focused on that problem because it's most likely more profitable.

I have 3 unconfirmed referrals, they are probably just waiting to see when it's safe to send the coins.

Ha, yeah... Since the sites been down, I've received 8 additional referrals... I'm getting a bit anxious too.

[jhansen858]

site never came back i guess everyone got ripped off.

[Yeti]

Why past tense? It's still online. Let's give him some more time to sort this out.
After all, apparently even a company running the biggest exchange for the whole community and making a lot of money off of it cannot get security up in a matter of days...

[anodyne]

Maybe someone could set up another one if Bitlex feels like sharing the code with someone who has the time and knowledge to run it (and to deal with security matters)?

A version with a lower buy-in wouldn't be too bad, for example.

[Garrett Burgwardt]

Still waiting on more info about this.

[IIOII]

Me too...

Seems like BitLex has no intention to do anything about the game...

Should we call this a scam?

[jjVon]

It's quite unfair to call something that got hacked a scam.  I think that word implies intent to mislead.  I don't really think that was the case here.  I think his site was attacked, then Gox was attacked, then everyone got really nervous about all things bitcoin, and this project is just not that important to him.

[CNMOH]

It's quite unfair to call something that got hacked a scam.  I think that word implies intent to mislead.  I don't really think that was the case here.  I think his site was attacked, then Gox was attacked, then everyone got really nervous about all things bitcoin, and this project is just not that important to him.

Is there even any evidence of this supposed hacking, though? It could all be faked.

[Grix]

It's quite unfair to call something that got hacked a scam.  I think that word implies intent to mislead.  I don't really think that was the case here.  I think his site was attacked, then Gox was attacked, then everyone got really nervous about all things bitcoin, and this project is just not that important to him.

When he started the project he made an obligation to the users. Just walking away from a project hundreds of people have invested in, without even a public statement or partial refund, is practically stealing. Being hacked is not an excuse, he had the responsibility to foresee and prevent it.

[jjVon]

Excellent point.  I wouldn't mind a refund of the .6 btc I am down on the project.  However, I was simply defending the allegation that bitex was intentionally defrauding or "scamming" the general public.  Sure, he has an obligation to contact us and let us know his intent for working this out.  But that's entirely different from a scam... just sayin'

[RandyMarsh]

An apology and an explanation would be the correct course of action.

This should tarnish his reputation, not be forgotten. Harsh but Fair.

[davux]

Any news? The site still says it's "under attack".

I have 4 pending at lvl1 and 1 pending at lvl3, I want to get them, haha.

Seriously though: please tell us what's going on.

[whenhowwho]

This thing is nothing new. Quite a few years a go there were many of these sites using cash (obviously) and it worked the same way. The only time you generate a lot of payments is when it is small. The only person who makes a ton with this is the admin. They get a payment every time. If you guys feel like throwing away your bitcoins feel free to throw some my way 

[davux]

I didn't lose coins, actually IIRC I spent 1ß and I got 1.25ß, much unlike Bitcoin Toss by Alex Beckenham, that did prove to be a disgusting scam.

So no anger here, I'm just eager to continue the experiment.

[phelix]

so what the heck is going on? bitlex? statement?

[jjVon]

I didn't lose coins, actually IIRC I spent 1ß and I got 1.25ß, much unlike Bitcoin Toss by Alex Beckenham, that did prove to be a disgusting scam.

So no anger here, I'm just eager to continue the experiment.

Same here.  I was just this close to breaking even.  I also have several pending (some of which would not commit to the 1BTC)  but I am interested in watching it continue just for kicks.  I don't really anticipate retiring on this plan or anything

[phelix]

His last post is one months old. Probably he made off with all our precious coins never having to work again. 

[anodyne]

Still would like this to come back to life. I think many would be interested in a more detailed report of what happened, or at least some sign that this thread is being read by BitLex.

(And no, I'm not going to spam my referral link for the new pyramid. You have to look in my signature for that...  )