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Author Topic: Bitcoin Randomizer, just a stupid pyramid scheme  (Read 43057 times)
IIOII
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June 16, 2011, 12:10:28 AM
 #221

Just to keep this up...

BitLex has been last active yesterday. I wonder why there is no statement regarding the Randomizer....
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lemonginger
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June 16, 2011, 12:19:08 AM
 #222

yes would be nice. I only lost .25 coin I guess (plus the money I paid for that referral, plus the original dollar I put in) but that is danger of a known pyramid scheme. Would have been nice to get an apology at least though.
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June 17, 2011, 04:23:06 PM
 #223

I emailed BitLex and asked him about the status of this problem.  His response was, yes, he is trying to fix the problem but he's not a professional and was having trouble.  Being that he responded rather quickly, and politely, I believe him.

I still don't know when the service will be up and running again, though.

A Personal Quote on BTT from 2011:
"I'd be willing to make a moderate "investment" if the value of the BTC went below $2.00.  Otherwise I'll just have to live with my 5 BTC and be happy. :/"  ...sigh.  If only I knew.
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June 17, 2011, 05:00:36 PM
 #224

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" ... ?
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June 19, 2011, 11:56:27 AM
 #225

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).

1YetiaXeuRzX9QJoQNUW84oX2EiXnHgp3 or http://payb.tc/yeti

Since Bitcoin Randomizer is dead, join the Bitcoin Pyramid (referrer id #203)! Be quick, be on top! Instant payout as soon as one of your referrals deposits!
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June 19, 2011, 08:33:17 PM
 #226

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.

A Personal Quote on BTT from 2011:
"I'd be willing to make a moderate "investment" if the value of the BTC went below $2.00.  Otherwise I'll just have to live with my 5 BTC and be happy. :/"  ...sigh.  If only I knew.
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June 20, 2011, 09:53:40 AM
 #227

site never came back i guess everyone got ripped off.

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June 20, 2011, 07:03:58 PM
 #228

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...

1YetiaXeuRzX9QJoQNUW84oX2EiXnHgp3 or http://payb.tc/yeti

Since Bitcoin Randomizer is dead, join the Bitcoin Pyramid (referrer id #203)! Be quick, be on top! Instant payout as soon as one of your referrals deposits!
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June 20, 2011, 07:17:47 PM
 #229

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.

Bitcoins: solid enough to build pyramids.
Garrett Burgwardt
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June 22, 2011, 10:49:58 PM
 #230

Still waiting on more info about this.
IIOII
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June 28, 2011, 01:47:10 PM
 #231

Me too... Angry

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

Should we call this a scam?
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July 01, 2011, 12:44:34 AM
 #232

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.

After all is said and done, there is usually more said than done.
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July 01, 2011, 01:08:38 AM
 #233

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.

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July 01, 2011, 10:41:37 AM
 #234

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.

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July 03, 2011, 01:40:54 PM
 #235

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'

After all is said and done, there is usually more said than done.
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July 04, 2011, 09:33:27 PM
 #236

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

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

Stan?! STAN?!?!
davux
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July 05, 2011, 07:31:00 AM
 #237

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.

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July 05, 2011, 08:10:27 AM
 #238

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  Wink

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davux
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July 05, 2011, 08:19:37 AM
 #239

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.

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July 12, 2011, 08:47:16 AM
 #240

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

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