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    Author Topic: How Bitwala ripped me off  (Read 302 times)
    ihucos (OP)
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    January 24, 2018, 09:52:12 AM
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    In the beginning of 2013 I joined three other Founders in a company called "Bitcoinsberlin", it was registered as a "Bits & Coins Consulting UG". Verbally we where equal Founders in shares and made a Contract stating so. I just did not care about making everything official. Being the only of us four with a technical background I had a lot of work. We where trying to find out what works in this new market and hoped for it to take off. So we build a lot of prototypes, including toys4btc (erotic shop accepting Bitcoins), all4btc (automated amazon buying and manual buying everywhere for Bitcoin), bills4btc (pay your bills with Bitcoin - now Bitwalla), e4btc (electronics shop for Bitcoins) and we also did automated arbitrage proof of concepts and I worked on a non-Bitcoin related Project. Occasionally a friend of mine helped out as a Freelancer, on e4btc there where two additional remote programmers that took not part in other projects. I not only did the the technical implementation and maintenance of our products but was involved in planning the strategy of our Company. This was a testing round and we where looking for something to focus on.

    In the end of 2013 I decided to quit after a replacement could be found. Regularly I complained about a too high workload and saw no steps in trying to alleviate this in any way. I also was not happy with the lack of book keeping and constant muttering of myself from the very beginning lead to no step in this direction, despite vertiginous order volumes. I remember that in the beginning of 2014 I could Show a developer our stack and he could take my place for now. In between there where details that could sound like nitpicking: The CEO left the country for months after a breakup with his girlfriend and was not responding to my emails. No communication and no customer service while taking vacations at the same time slot. No answer to the plan of meeting for new years eve during the vacation.

    After I wanted to leave, I knew that there was something "fishy". A meeting mainly with the CEO in the beginning of 2014 gave me certainty. They (two of them, one watched) wanted to simply "throw me away" and where not open to any form of compensation in shares based in our oral agreement - we also talked about what if someone leaves.

    I lived with one of the Co-Founders together in a shared apartment ("Wohngemeinschaft") together with two girls. What happened is that he secretly bullied and terrorised me. I suffered from bullying in school and hoped to not have to experience that again as an adult. I moved to my parents. I actually have more bad temper against the current CEO, he went even lower, but without apparently making his hands dirty. I thought we where friends and was obviously mistaken.

    And there I was, living in the lumber-room ("Abstellkammer") of my parents with absolutely no money, broken hearth, broken dreams, broken faith and priorizing my overall life situation and mental health over a legal fight with my co-founders. In this point of time it still was "my" company and I did not want to hurt it. Today I curse that our original plan was successful and sometimes a little bit that Bitcoins did well (2018). I really wish I could be proud of being one of the many first Bitcoins pioneers and Co-Founding the beginning of a successful Startup, but I am not.



    I would like to ask you not to use names of persons involved in this story in a way that is indexable by search engines.



    There are points That I would like to mention that for me are not important in this context but could came up if the blamed company wishes to answer:

    - I got 4535 Euros while working there from two of my Co-Founders, this partially covered my basic living expenses and never was seen as any kind of full compensation.

    - I writtenly cursed the current CEO after the whole thing.

    - There are written traces that I was offered besides more work, profit participation in "Amazon & Ebay - Shopping", it is not clear what this is supposed to mean and for me this was meaningless, I am happy to take whatever.

    - Not that it matters, but I privately possessed two Bitcoins, which i happily sold at 1K each
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