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Topic: I don't trust mybitcoin or the UABB, but how come so many trust it? (Read 13388 times)

BitcoinPorn (OP)

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I don't trust mybitcoin or the UABB, but how come so many trust it?

July 15, 2011, 12:38:40 PM
Last edit: August 03, 2011, 01:26:15 PM by BitcoinPorn

Disclosure, I am not aware of how well or bad mybitcoin is, this thread is a representation of how I currently see it and hopefully will get clarity along with others. Make no full judgement for or against mybitcoin based on this one post alone. Thank you. I see people refer to them as the only option sometimes.

A lot of 'older' members use it.

But I always see complaints from newer members and I believe there was a decent amount of security issues http://forum.bitcoin.org/index.php?topic=18098.0 http://forum.bitcoin.org/index.php?topic=25635.0 http://forum.bitcoin.org/index.php?topic=25643.0 http://forum.bitcoin.org/index.php?topic=17423.0 http://forum.bitcoin.org/index.php?topic=26224.0 .

I could paste threads all day, but most have issues, then further down resolved, but looking closer not every issue is resolved, there is just the common issue of people having a smart ass reply and a conversation ends lol. Those links are just random choices, search on your own.

So how does it keep getting hit on for being not really a 'Scam' I would think, but having as many issue as it does yet continues to be used by a lot of major sites and still gets talked about negatively by other users.

I am trying to factor in, when things are good and everything is working, no one says anything. So I factor in that there will never be as many posts saying something is good than there is something is bad on almost any topic, just in this case, it is to the point that I am looking for a service like this, I like mybitcoin in theory, but right now I am still not sure, and would like more opinions to think further on the matter.

Thanks.

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kiba

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Re: I don't trust mybitcoin, but how come so many trust it?

July 15, 2011, 12:43:06 PM

mybitcoin.com could be a lot better but I never lost any money in mybitcoin..

But I am only one person.

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BitcoinPorn (OP)

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Re: I don't trust mybitcoin, but how come so many trust it?

July 15, 2011, 12:54:20 PM

Quote from: kiba on July 15, 2011, 12:43:06 PM

mybitcoin.com could be a lot better but I never lost any money in mybitcoin..

But I am only one person.

I see a lot of 'classic' members with their accounts fine. I would consider you part of that with Bitcoin Weekly. I don't see Bruce Wagner's account being messed up either. More or less "unrecognized" members using the service I see touting up with complaints. And from what I gather, it just seems like that, 'it could be a lot better'.. like that is site is constantly being updated I'm sure (as should all sites that deal daily with peoples' Bitcoin, there should be staff available 24 hours a day), but I guess that is one of the things that maybe made me create this thread.

I still have interest in the site, but the threads I posted, many more, I just wonder if someone from the site itself would maybe want to take a day or two through the forums, resolve issues, close cases, etc. Seems like it would be a wise investment for themselves, and it would only take their time to just answer questions and be the last word in threads.

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Bitcoin Swami

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Re: I don't trust mybitcoin, but how come so many trust it?

July 15, 2011, 01:33:06 PM

Bruce said a couple weeks ago that he offered for the guy to come on the bitcoin show. Guess he didn't want to?

BitcoinPorn (OP)

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Re: I don't trust mybitcoin, but how come so many trust it?

July 15, 2011, 01:40:06 PM

Quote from: mayabong on July 15, 2011, 01:33:06 PM

Bruce said a couple weeks ago that he offered for the guy to come on the bitcoin show. Guess he didn't want to?

This is very good to know. I know programmers are not social by nature, and I'm sure whoever is running mybitcoin has enough flow of Bitcoin and cash where obtaining new clientele is not necessary. Maybe it is time for some of these companies to hire social media people for each team. Jared from Tradehill has to be my favorite example of that, that team knew what was up from day one and had someone on that and he does his job well. Mybitcoin needs a face or a representative for the amount of people and business' they service, it would really be in a lot of peoples best interests. Or not.

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edd

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Re: I don't trust mybitcoin, but how come so many trust it?

July 15, 2011, 01:51:24 PM

My experience is also anecdotal, but I use them for processing BitBrew orders and haven't lost any BTC yet. Of course, it was inconvenient when their site went down temporarily and I've reduced the amount I keep there at any given time.

It would be nice if there was more competition.

Still around.

blumpkinpie76

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Re: I don't trust mybitcoin, but how come so many trust it?

July 15, 2011, 04:13:09 PM

Just my .02 BTC, but any wallet service that does not have the functionality that the client has is worthless. The fact that generated payments are not compatible is IMHO unacceptable.

dinzy

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Re: I don't trust mybitcoin, but how come so many trust it?

July 15, 2011, 04:14:08 PM

I lost half a coin because my autopayout sent to them when the site was down. I sent email and waited. Still nothing. I am glad it happened because it could have been worse if I had come to trust them.

BitcoinPorn (OP)

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Re: I don't trust mybitcoin, but how come so many trust it?

July 15, 2011, 04:18:00 PM

Wow. I really do not want to believe they are staying afloat solely based on the older user base and that built in trust (and or just convenience at this point, on top of lack of options).

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kgo

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Re: I don't trust mybitcoin, but how come so many trust it?

July 15, 2011, 04:33:09 PM

#10

I'm the same as you. I've got a bad impression without having ever used them.

From all the complaint threads I read it seems like the site is run on autopilot. If everything goes smoothly, you're fine. But when something goes wrong, it seems like users are met with deafening silence. There's doesn't seem to be a way to email for help or open a support ticket.

If people were getting any feedback, it'd be easier to dismiss any given complaint as some cranky angry user, which even the best sites have. But the apparent inability to contact anyone behind the site makes me nervous.

Once again, this nervousness is based on hearsay, and no direct interaction with the site.

SgtSpike

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Re: I don't trust mybitcoin, but how come so many trust it?

July 15, 2011, 04:40:30 PM

#11

mybitcoin is a scam, plain and simple. I've seen plenty enough negative feedback with people not getting anything back, even after waiting weeks and weeks.
http://bitcoinfeedback.com/viewuser.php?un=MyBitcoin%20LLC*&id=195

Hmmm... looks like something is wrong with my calculation of feedback score. They shouldn't have 100% - they should have 25%.

BitcoinPorn (OP)

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Re: I don't trust mybitcoin, but how come so many trust it?

July 15, 2011, 04:48:10 PM

#12

Quote from: SgtSpike on July 15, 2011, 04:40:30 PM

Hmmm... looks like something is wrong with my calculation of feedback score. They shouldn't have 100% - they should have 25%.

Neutrals don't count, without any negatives there, it is all positive. Those negatives are showing in the wrong spot. I have not seen that site but that hopefully will be an easy fix.

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Raoul Duke

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Re: I don't trust mybitcoin, but how come so many trust it?

July 15, 2011, 04:58:45 PM

#13

Quote from: SgtSpike on July 15, 2011, 04:40:30 PM

Those negative feedbacks are from persons who lost/forgot their password on a service that doesn't offer a pasword recovery option and where no email is given for registration.
Opinions from such persons don't take much credit from me.

I lost 0.05BTC with mybitcoin on that day their website had problems, but paypal also limited my account at one time, and i haven't stopped using them, in fact i have 2 verified paypal accounts in different countries.

If one would use these type of "problems" as an excuse not to use a service i just ask this:
WHY IS MTGOX STILL IN BUSINESS?

BitcoinPorn (OP)

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Re: I don't trust mybitcoin, but how come so many trust it?

July 15, 2011, 05:02:34 PM

#14

Quote from: psy on July 15, 2011, 04:58:45 PM

If one would use these type of "problems" as an excuse not to use a service i just ask this:
WHY IS MTGOX STILL IN BUSINESS?

Established user base and lack of choices, in fact, the same exact reason why MyBitCoin is in business from what I can gather, and so far this thread is proving it big time. I really wish it wasn't.

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SgtSpike

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Re: I don't trust mybitcoin, but how come so many trust it?

July 15, 2011, 05:07:09 PM

#15

Quote from: BitcoinPorn on July 15, 2011, 04:48:10 PM

Quote from: SgtSpike on July 15, 2011, 04:40:30 PM

Hmmm... looks like something is wrong with my calculation of feedback score. They shouldn't have 100% - they should have 25%.

Neutrals don't count, without any negatives there, it is all positive. Those negatives are showing in the wrong spot. I have not seen that site but that hopefully will be an easy fix.

Yep, I had the negatives/neutrals swapped in the calculations. Fixed now though.

Quote from: psy on July 15, 2011, 04:58:45 PM

Quote from: SgtSpike on July 15, 2011, 04:40:30 PM

You have a point. I think most people just assume that there is a way to recover their account if it is lost, since any proper online website WOULD have password/account recovery options.

I take it you think it is ok for mybitcoin to steal those coins from those users, because it is the fault of those users for forgetting their account information in the first place? IMO, that is terrible customer service and warrants the negative feedback they have received.

MtGox warrants a bunch of negative feedback as well (which they have rightfully received on these forums).

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Re: I don't trust mybitcoin, but how come so many trust it?

July 15, 2011, 05:27:07 PM

#16

I exclusively use mybitcoin.com as payment processor on all my sites. I have never had any trouble with them. However, all the problems I see reported do concern me. I suppose at some point I'll sync my stores with the bitcoin client running on my servers, but with mybitcoin.com running well for me, it's hard to justify taking the time.

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Raoul Duke

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Re: I don't trust mybitcoin, but how come so many trust it?

July 15, 2011, 05:30:21 PM

#17

Quote from: SgtSpike on July 15, 2011, 05:07:09 PM

I take it you think it is ok for mybitcoin to steal those coins from those users, because it is the fault of those users for forgetting their account information in the first place?

No, i don't think that's ok. Au contraire... I just think people should be more careful and maybe add their email address to their accounts after they create them, just like i did.

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Re: I don't trust mybitcoin, but how come so many trust it?

July 15, 2011, 05:44:28 PM

#18

I feel the same way OP but i doubt they are a scam.

BitcoinPorn (OP)

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Re: I don't trust mybitcoin, but how come so many trust it?

July 15, 2011, 06:00:23 PM

#19

Yes, I hope the impression so far isn't that they are necessarily a scam, but this is not a tight ship for sure, all the users who still use them are attesting to that at the moment.

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Re: I don't trust mybitcoin, but how come so many trust it?

July 15, 2011, 06:21:27 PM

#20

Quote from: psy on July 15, 2011, 05:30:21 PM

Quote from: SgtSpike on July 15, 2011, 05:07:09 PM

I take it you think it is ok for mybitcoin to steal those coins from those users, because it is the fault of those users for forgetting their account information in the first place?

No, i don't think that's ok. Au contraire... I just think people should be more careful and maybe add their email address to their accounts after they create them, just like i did.

Yeah. On my new website (see the sig!) I decided to make your login your email address, with verification. I knew that was going to cause some complaints from the more privacy obsessed (cuz its so hard to make a fake email...) but felt it was the only way to safely and reliably deal with people who lost their password. And sure enough, people complained.

But if it's too hard to manually verify these email-less accounts for these people, and they've received numerous complains, then you would think they'd reconsider the policy and make emails mandatory.

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