6 ms·

Bitmit - Buy and sell goods with Bitcoin

87 points by basil 14y ago

ams6110 14y ago
Crashed my browser.
rorrr 14y ago
What would stop someone from setting up a bunch of accounts and selling a bunch of non-existent stuff? Is there escrow of some sort?
- kiba 14y ago
  If you read the FAQ, they did mention an escrow system.
- dreamdu5t 14y ago
  From the FAQ: Because Bitcoin transactions are widely anonymous there is a need for trustbuilding measures like our escrow system. Thereby Bitcoins are only transfered to the vendor if you have set the order as received or have given a positive rating. Thereby potential fraudsters have no chance of success. More details: http://www.bitmit.net/en/info/13/bitmit-bitcoin-treuhand-dienst http://www.bitmit.net/en/info/13/bitmit-bitcoin-treuhand-die...
  - mparlane 14y ago
    Sadly it means the customer is always right. So if the customer says "nope I didn't get it", then they get their money and the product. Similar to how paypal works really.
    - kiba 14y ago
      Just hold the money when the evidence is not clear?
    - rprasad 14y ago
      Paypal provides a mechanism for the merchant to show proof of delivery. Generally, if you use UPS or Fedex, all you have to do is forward them delivery confirmation or the tracking number, and they free up your funds. For intangible goods, you simply need to show proof that the item purchased is intangible. Paypal isn't perfect, but if it really screwed over merchants the way you suggest they do, they would have gone out of business years ago.
      - tzs 14y ago
        > Paypal isn't perfect, but if it really screwed over merchants the way you suggest they do, they would have gone out of business years ago. I don't think you can draw that inference unless there is a good non-Paypal option that doesn't screw over merchants. Getting a traditional merchant account and accepting credit cards online isn't such an alternative--that screws over merchants on charge backs and with the occasional massive and apparently arbitrary increase in reserve requirements.
        analog 14y ago
        As a merchant it feels like you're being screwed over, but the fact is you'll sell more and at higher values than if you don't accept paypal or credit cards. There are plenty of studies showing that customers spend more if they pay by credit card. In fact just having a credit card logo visible will increase spending, even on cash puchases.
    - DavidSJ 14y ago
      The escrow service can donate the money to charity. Since the seller never gets it, there's no disincentive for fraud in the first place.
      - DavidSJ 14y ago
        Incentive, I mean.
  - rorrr 14y ago
    So I order the most expensive item and pretend I never received it.
    - Myrth 14y ago
      I guess need a delivery trust component. Vendor should send only with tracked/signature required service and provide receipt as a proof of shipment.
      - chrischen 14y ago
        What if they send a box of dirt, and call it a PS3?
        finnw 14y ago
        You don't even need to shop online for that - it can happen in brick-and-mortar stores: http://consumerist.com/2007/10/best-buy-sells-you-a-box-of-bathroom-tiles-instead-of-hard-drive-wont-issue-refund.html http://consumerist.com/2007/10/best-buy-sells-you-a-box-of-b...
pliny 14y ago
Recently added: Bitcoin mining gear, gems hand picked by a thai GIA graduate for sale on bitmit, Nazi paraphernalia and 'The Israel Lobby' on audiobook.
meskyanichi 14y ago
Reminds me of the Real Money Auction House in Diablo 3.
- kiba 14y ago
  How so?
  - meskyanichi 14y ago
    Trading virtual currency for physical currency. In Diablo 3 you can purchase/sell virtual goods for real currency. Although both have "real value", you can do more with for example "USD/EUR" than with "Diablo 3 Gold".
kiba 14y ago
Even though I am a bitcoiner, I do not understand the curiosty of the HN readership in what is basically an ebay clone for bitcoin.
- mxxx 14y ago
  mmm, it's a little hard to get excited when it's pretty much 99% junk. still, spose ebay started that way too.
- michaelbuckbee 14y ago
  As someone who has only looked at Bitcoin from the outside, it nonetheless hits many of my personal interests: currency arbitrage, encryption, digital ventures, security, etc. So, I'm interested in outcomes of Bitcoin. Ebay has all sorts of restrictions on what you can post and bid on, will a market emerge for (as others noted) OJ's book, transplant kidneys and illegal publications? On a less lurid scale the site _has_ to do some serious work and thought around fraud, transactions and reputation in anonymous settings, work I'd like to take lessons from.
lightweb 14y ago
Whoa! http://www.bitmit.net/en/trade/i/2592-o-j-simpson-if-i-did-it-very-very-rare-book http://www.bitmit.net/en/trade/i/2592-o-j-simpson-if-i-did-i... Someone is selling a copy of the OJ Simpson book.
- lightweb 14y ago
  From Wikipedia: "According to a Newsweek story, all 400,000 printed copies were recalled for 'pulping', except for one, locked away in a vault at News Corp.[6] One copy did show up on eBay on January 15, 2007, with a starting bid of $1500, and sold for over $65,000 fueling speculation about whether News Corp. was able to destroy all printed copies.[citation needed] James Wolcott of Vanity Fair obtained a "pristine hardcover" copy of the book for a review published in January 2007.[7]" This is quite an interesting auction here, considering the circumstances. Read more at https://en.wikipedia.org/wiki/If_I_Did_It https://en.wikipedia.org/wiki/If_I_Did_It
  - Gustomaximus 14y ago
    If real, I wonder if someone is interested in selling via bitcoin for anonymity. Or a marketing stunt...
    - rmc 14y ago
      Or it's a fake. And since bitcoin has no chargebacks (which many in the bitcoin community think is great!) the customer is left out of pocket with no recourse. Caveat Emptor.
      - seabee 14y ago
        > And since bitcoin has no chargebacks Neither does cash. Bitcoin replaces currency, not credit.
        pygy_ 14y ago
        Usually, when you pay in cash you have physical access to your future purchase and can detect obvious scams.
SkippyZA 14y ago
This works well for those who spend their life on /r/girlsgonebitcoin (NSFW)
moondowner 14y ago
"Yes, PHP has a better dependency manager than any other languages." > Better than Maven or Gradle? I wished someone made a chart with all these tools that covered dependency management and analyzed their features. But in the end, dependency management is only a part of the platform built around the language, it's a good factor in whether to choose or not to choose a language - but not the crucial one.
- moondowner 14y ago
  How did my comment appeared on a different article..

87 points by basil 14y ago

Crashed my browser.

rorrr 14y ago

What would stop someone from setting up a bunch of accounts and selling a bunch of non-existent stuff? Is there escrow of some sort?

kiba 14y ago
If you read the FAQ, they did mention an escrow system.
dreamdu5t 14y ago
From the FAQ: Because Bitcoin transactions are widely anonymous there is a need for trustbuilding measures like our escrow system. Thereby Bitcoins are only transfered to the vendor if you have set the order as received or have given a positive rating. Thereby potential fraudsters have no chance of success. More details: http://www.bitmit.net/en/info/13/bitmit-bitcoin-treuhand-dienst http://www.bitmit.net/en/info/13/bitmit-bitcoin-treuhand-die...
- mparlane 14y ago
  Sadly it means the customer is always right. So if the customer says "nope I didn't get it", then they get their money and the product. Similar to how paypal works really.
  - kiba 14y ago
    Just hold the money when the evidence is not clear?
  - rprasad 14y ago
    Paypal provides a mechanism for the merchant to show proof of delivery. Generally, if you use UPS or Fedex, all you have to do is forward them delivery confirmation or the tracking number, and they free up your funds. For intangible goods, you simply need to show proof that the item purchased is intangible. Paypal isn't perfect, but if it really screwed over merchants the way you suggest they do, they would have gone out of business years ago.
    - tzs 14y ago
      > Paypal isn't perfect, but if it really screwed over merchants the way you suggest they do, they would have gone out of business years ago. I don't think you can draw that inference unless there is a good non-Paypal option that doesn't screw over merchants. Getting a traditional merchant account and accepting credit cards online isn't such an alternative--that screws over merchants on charge backs and with the occasional massive and apparently arbitrary increase in reserve requirements.
      - analog 14y ago
        As a merchant it feels like you're being screwed over, but the fact is you'll sell more and at higher values than if you don't accept paypal or credit cards. There are plenty of studies showing that customers spend more if they pay by credit card. In fact just having a credit card logo visible will increase spending, even on cash puchases.
  - DavidSJ 14y ago
    The escrow service can donate the money to charity. Since the seller never gets it, there's no disincentive for fraud in the first place.
    - DavidSJ 14y ago
      Incentive, I mean.
- rorrr 14y ago
  So I order the most expensive item and pretend I never received it.
  - Myrth 14y ago
    I guess need a delivery trust component. Vendor should send only with tracked/signature required service and provide receipt as a proof of shipment.
    - chrischen 14y ago
      What if they send a box of dirt, and call it a PS3?
      - finnw 14y ago
        You don't even need to shop online for that - it can happen in brick-and-mortar stores: http://consumerist.com/2007/10/best-buy-sells-you-a-box-of-bathroom-tiles-instead-of-hard-drive-wont-issue-refund.html http://consumerist.com/2007/10/best-buy-sells-you-a-box-of-b...

pliny 14y ago

Recently added: Bitcoin mining gear, gems hand picked by a thai GIA graduate for sale on bitmit, Nazi paraphernalia and 'The Israel Lobby' on audiobook.

meskyanichi 14y ago

Reminds me of the Real Money Auction House in Diablo 3.

kiba 14y ago
How so?
- meskyanichi 14y ago
  Trading virtual currency for physical currency. In Diablo 3 you can purchase/sell virtual goods for real currency. Although both have "real value", you can do more with for example "USD/EUR" than with "Diablo 3 Gold".

kiba 14y ago

Even though I am a bitcoiner, I do not understand the curiosty of the HN readership in what is basically an ebay clone for bitcoin.

mxxx 14y ago
mmm, it's a little hard to get excited when it's pretty much 99% junk. still, spose ebay started that way too.
michaelbuckbee 14y ago
As someone who has only looked at Bitcoin from the outside, it nonetheless hits many of my personal interests: currency arbitrage, encryption, digital ventures, security, etc. So, I'm interested in outcomes of Bitcoin. Ebay has all sorts of restrictions on what you can post and bid on, will a market emerge for (as others noted) OJ's book, transplant kidneys and illegal publications? On a less lurid scale the site _has_ to do some serious work and thought around fraud, transactions and reputation in anonymous settings, work I'd like to take lessons from.

lightweb 14y ago

Whoa! http://www.bitmit.net/en/trade/i/2592-o-j-simpson-if-i-did-it-very-very-rare-book http://www.bitmit.net/en/trade/i/2592-o-j-simpson-if-i-did-i... Someone is selling a copy of the OJ Simpson book.

lightweb 14y ago
From Wikipedia: "According to a Newsweek story, all 400,000 printed copies were recalled for 'pulping', except for one, locked away in a vault at News Corp.[6] One copy did show up on eBay on January 15, 2007, with a starting bid of $1500, and sold for over $65,000 fueling speculation about whether News Corp. was able to destroy all printed copies.[citation needed] James Wolcott of Vanity Fair obtained a "pristine hardcover" copy of the book for a review published in January 2007.[7]" This is quite an interesting auction here, considering the circumstances. Read more at https://en.wikipedia.org/wiki/If_I_Did_It https://en.wikipedia.org/wiki/If_I_Did_It
- Gustomaximus 14y ago
  If real, I wonder if someone is interested in selling via bitcoin for anonymity. Or a marketing stunt...
  - rmc 14y ago
    Or it's a fake. And since bitcoin has no chargebacks (which many in the bitcoin community think is great!) the customer is left out of pocket with no recourse. Caveat Emptor.
    - seabee 14y ago
      > And since bitcoin has no chargebacks Neither does cash. Bitcoin replaces currency, not credit.
      - pygy_ 14y ago
        Usually, when you pay in cash you have physical access to your future purchase and can detect obvious scams.

SkippyZA 14y ago

This works well for those who spend their life on /r/girlsgonebitcoin (NSFW)

moondowner 14y ago

"Yes, PHP has a better dependency manager than any other languages." > Better than Maven or Gradle? I wished someone made a chart with all these tools that covered dependency management and analyzed their features. But in the end, dependency management is only a part of the platform built around the language, it's a good factor in whether to choose or not to choose a language - but not the crucial one.

moondowner 14y ago
How did my comment appeared on a different article..