Update: There's a new website to be aware: https://www.2ezpz.com/

Tip: If you cannot send bitcoins yourself after purchasing them and the company has no state license posted, it's like illegal.


Last year Backpage.com adopted bitcoin as its primary method of accepting payments. A move that wasn't exactly planned, but ended up a good move that kept them in business, started another business, and introduced thousands of people to the digital currency known as bitcoin. Adoption of the payment method came after being prohibited by both Visa and Mastercard from using their networks.

This was all due to the illegal actions of one man threatening the networks and coercing them into dropping Backpage. Thomas J. Dart, a then Illinois Cook County Sheriff, decided to take the lazy, unconstitutional, and illegal route to punish the entire user base, company, and its employees and affiliates because he didn't like the ads a few users had listed implying human trafficking. 

If that all sounds familiar its because the same idiot tried the same thing about 6 years earlier against Craigslist where he had an issue with ads that could lead to potential prostitution. Makes you wonder what in the hell Thomas J. Dart is doing in his free time....he sure stumbles across allot of strange shit on the internet.
In reality Backpage is not responsible for the contents of ads due to the Communications Decency Act (specifically Section 230(c)(1)) which provides immunity from liability. 

Enter Bitcoin

Fortunately for Backpage, bitcoin doesn't ban anyone and startup Paxful, Inc., a Delaware company then based in New York, was able to step in along with a hand full of industry vendors they were able to assemble and help put a solution in place. The solution was the Paxful platform and "Pay with Paxful" implementation that helps users new to bitcoin obtain bitcoin and pay their Backpage invoice. 

A task with is not as simple as it sounds and almost always requires some level of educating a new user and assisting them in the process since most have never even heard of bitcoin. 

Which is exactly what a handful of new websites are preying on. The inexperience of its unsuspecting victims. When and if the services actually work, they are additionally money transmitting, operating a unregistered money services business, fraudulently advertising, aiding the solicitation of prostitution, in addition to copyright infringement, outlandish pricing, and brokering.

They appear to be related, at least two of them are for sure.

The sites in question are http://www.creditsforbackpage.com/, http://www.backpagecredits.com/, http://www.buybpcredits.com, and http://www.bitcoins4backpage.com/ to name a few.  

They are all SCAMS.

They are operating illegally and then charging upwards of 200% over fair market value or more on top of that while using deceptive practices to lure unsuspecting buyers into thinking they are purchasing Backpage ad "credits" directly with their credit/debit cards and other methods when in reality they are simply selling bitcoin and then sending the bitcoin themselves as a service. In other words they are transmitting money.

Lets begin with the least offender, creditsforbackpage.com, in this particular case this is there is not a direct offense but its pretty clear that this website is owned but the same owners of buybpcredits.com, http://www.bitcoins4backpage.com/, bitcoin4backpage,com and http://www.backpagecredits.com/ or it's just a miraculous coincidence.

There is nothing more than 4 or 5 posts here talking about how amazing the aforementioned websites are and bashing established, well known platforms like Paxful and CEX.io both of whom have been around a while the later being of of the largest platforms and the largest pool at one time.

This was clearly designed to coerce unsuspecting buyers the the credits pages.



Take note of the date. March 12, 2016. Now let's take a look a post from one of the glorified sites. 


March 17th and there is another one posted March 15th. In fact the website even tells you that all of the websites started at the same time and is posting at the same time after which point another word is never uttered on any of them.

Sure that could be a coincidence, however, this sure as hell isn't. If we take a look at backpagecredits.com and look under the hood, we find the same owner of bitcoins4backpage.com/ is backpagecredits.com. The sites are very similar as well, too similar and they didn't cover all of their tracks, such as this little gem: 

You can check this link out for yourself (http://www.backpagecredits.com/img/logo-b4c-full-sm.png)


There's your proof of those two (of course they could just be thieves but we doubt it). There you have the bitcoins4backpage logo mysteriously available on the backpagecredits own web-server. This issue actually stems from the fact they failed to remove the code referencing the image where we found it.

Let check out the buying process.

The website tells us we do not need bitcoin for backpage. Which is strange since Backpage themselves state that we do unless we want to mail in a money order. So what on earth are these guys talking about?

Apparently there are some sort of "credits" that do not involve bitcoin that have value and Backpage accepts those. You cannot buy anything that has to do with Backpage directly since that would be a violation of Visa and Mastercards prohibition of Backpage and these guys accept both for these phantom credits so how is this?

It's simple they are false advertising. In a rather contradictory fashion I might add. Note the the name, bitcoins4backpage followed by "No more confusing bitcoins". 

The only thing confusing here is what the mysterious magic credits that have value but not associated with Backpage thus not violating anything with the payment networks and not bitcoin because they say its not bitcoin and it couldn't be anyway because if they are sending bitcoins directly on a customers behalf to another party after accepting payment for this service then that would be money transmission and they would have a license in 48 states. 

Perhaps they do and that's why they were too broke to build a decent website or at least a website that actually works. Neither of these appear to.

The first flag is the utter and complete lack of any SSL security along with more false advertising.


  1. This goes beyond false advertising into pure fraud. They state your transaction is covered by 128 bit SSL encryption, a requirement for PCI compliance, check out the big red arrow. There is clearly no SSL certificate on this server and there is absolutely no security or protection here. 
  2. Personal information being requested, the statement and banner in #1 coerces the user to feel safe enough to hand out personal details, credit card numbers, and address information.
  3. It says that I am buying 10 credits worth $20. What the hell does that mean?
  4. The missing SSL is apparent. These are several PCI compliance violations, false advertising, and plain fraud.
It's ugly twin sister is a bit more forthcoming. Backpagecredits.com tells you that they are sending bitcoin on your behalf. This is also the exact reason to avoid them because they will likely be closed down soon.




More of the contradictory verbiage stating you don't need bitcoin followed by stating you do but they send the money on your behalf. Which is textbook money transmission.

Now we know what the credits are, they are actually bitcoins. Why on earth don't they just say that instead of making it so confusing? Oh yeah, they don't want you to know they're money transmitting because it's illegal without 48 individual state licenses that cost millions of dollars to obtain. They are using the "credits" tag to make it sound like your buying something else, but it can't be anything else because it would violate Visa and Mastercards denile of services. 

So how to other vendors like Paxful do this? In short, they don't. 

Paxful cannot send the bitcoin directly to Backpage on behalf of the user either and neither can its vendors without the same money transmission licenses. Paxful actually doesn't sell any bitcoin at all. Vendors (other companies) supply the bitcoin for sale, post their advertisements, and conduct the sale of the bitcoin at which point the owner of the bitcoin is the buyer. The buyer can then send their bitcoin wherever they wish to on their own behalf. 

Paxful has some tailor made tools to aide in this process but it's not automated and the buyer has full control over where they send the money. The same goes for Circle, Localbitcoins, Bitquick, and other services who operate in full accordance with the laws in their country (Localbitcoins for instance is in Finland, not the United States as is the case with the aforementioned other three parties).

That's another way you can tell who is legitimate and who is full of shit. For example, Paxful doesn't transmit money that would meet the definition of any states money transmission laws with the exception of New York's BitLicense which requires a license for all virtual currency sales. New York residents are not allowed on the platform. 

If you check out Bitquick, Paxful, and Circle. All United States corporations and platforms. We see they are all properly federally registered financial institutions operating in accordance with all state licensing requirements (Circle for example actually does require a license in many states to do some of its services). Here's what the United States Financial Crimes Enforcement Network shows on the topic.

Paxful, Inc.

Additionally many of the companies who are vendors on Paxful are also licensed and/or federally registered businesses operating in full compliance of federal regulation.


 Circle Internet Financial, Inc.



Bitquick Technologies, Inc.


OK! These companies are legit! The above three are legal, secure, and real companies safe to conduct business with or operate on their platform. They are recommended.

Then We Have The Shady 

So how about the organizations of Backpagecredits, bitcoin4backpage, bitcoins4backpage, PJGC, and Fierce (buybpcredits)?

FAIL! these websites are shady. 

There is no actual legal entity associated, no license, and no registration for any of them. One of the only company names that could be found anywhere is not real or licensed either. Not with FinCEN, and certainly not with the CFTC.

Which means that they are all operating illegally and not something you want to be involved with given the federal requirements are a prerequisite to any states licensure making it safe to assume they are also operating illegally in more than one state.

Among other fines, this carries a heavy penalty of $5,000.00 per day for each day they operate in this manner so the bill they have racked up is likely astronomical and not someplace you want your money hanging out.

PJGC, LLC appears to be fraudulently used as well. There is no PJGC, LLC. There was a PJGC, LLC but it went out of business and is no longer operating which means this company is fake.

PJGC, LLC is supposedly the company behind backpagecredits.com, and here's the actual data on PJGC, LLC which was a treatment center for substance abuse outside of Dallas, TX owned by a Mr. Pascal L. Gwathney.

PJGC LLC


Owner and Registered Agent

Filing History (Company End July 7th 2006)


You can clearly see in the first image that the companies status is "Forfeited existence". So either Pascal took up a new career and forgot his company went out of business or the more likely scenario of the name is made-up and the imaginary company foolishly adopted the name of a defunct company with a paper trail.

To top that off, in addition to accepting payments from Visa and MasterCard, they are accepting card transfer payments as a business from Bluebird and Serve by American Express. This is against the American Express terms and conditions for this service and can get your account close with your money frozen for weeks for violating their terms and agreement.

It's specifically in Section 8(a):


"Payment to a merchant, business, or any type of commercial entity, or a payment (or request) sent in connection with the sale of goods or services or for payment on a debt or amount owed, is not an eligible use of Send Money and is prohibited",
Section 8(a)


Let's review. 

  1. Backpagecredits and Bitcoin4backpage are obviously the same company/owner. 
  2. The company apparently doesn't exist. 
  3. The websites are unsafe and unsecured (one does have a SSL certificate) with PCI violations.
  4. The company is operating illegally 
  5. Operating an illegal financial exchange
  6. Operating an illegal money service business
  7. Transmitting money with an money transmission license
  8. Violating terms of service of payment providers
  9. Commiting fraud
  10. Falsely advertising services and conditions

They also take up to 4 hours. Which means they are also likely brokering without the proper documents in place with the CFTC to do so.

Outside of all of that, there is of course, no address, no phone number, and no way to contact them unless you manage to stumble on their email on only 1 page and simply "support". All the classic tells of a scam. Don't buy into the "we're on backpage" since that it just an API that anyone can hook into. We tested their "validation" using the fake email test@test.com and it passed. 

Initially we were going to test out how long it took but after seeing everything we saw, we opted to stay clear of this trap. We can only assume it works, but it doesn't appear as if anyone is going to the website, their daily traffic is a dismal handful per day with just a couple conversions (sales).

www.bitcoins4backpage.com, which is bitcoins with an s may or may not be the same clan. This site is slightly better in design but just as bad everywhere else complete with all the same violations, illegal operations, and shady services.

No SSL, PCI Violations
There's a very good reason traders of bitcoin use platforms and do not have websites up all over the place directly selling coins and transferring them to other people. They can't.

The operators of these sites obviously don't realize that but they can't even load a simple SSL certificate to keep data safe so its no shocker there. What they all seem to be exceedingly good at is breaking the law and fraudulent activity.

None however, are as bad as buybpcredits.com. There's a fine line between insuating "sex sells" with a marketing campaign and chasing down deliberately advertising in places meant only for one specific audience. 


We found them advertising on just about every illicit and shady website in existence including offering reviews of various "escorts" they themselves have engaged with. They adhere to the "you don't need bitcoins" advertisement stating they are not required for Backpage, and state how they are fast, cheaper, easier, and with better support including how they are better than Paxful, better than bitcoin, and better than even Backpage themselves. They are better than everyone and everything, yet it appears that almost nobody else on earth thinks the same due to the lack of sales.



They also contradict themselves like the rest in stating that "no bitcoin is required" and that they "do not sell bitcoins" which would make them a processor for Backpage accepting card payments illegally or money transmission in some other way. The truth is they are selling bitcoin and they are also money transmitting by sending it on your behalf.

These guys are also operating illegally and might be violating FCC regulations as well. We actually reached out to them and they indeed state they will transmit your money for you. Pretty amazing how blatant it was so perhaps they have licenses in all 50 states? 

They don't. In fact they appear to be based out of Florida and in Florida you need a license to even cash a check, much less transmit money. What's worse is that the owner of this establishment has reviews of various "escorts" on some of these questionable websites, which in itself isn't illegal, but it ads to the blatantly obvious targeted market. 

These guys are so bad at this that our team started thinking that they might actually just be local law enforcement trying to setup a sting. Either that or complete idiots. Maybe both.

Common Ground

Whereas some of these services look worse than others. buybpcredits appear to be blatantly and carelessly flaunting illegal activity, for example, but www.bitcoinS4backpage.com legitimately looks like they intend to help you move your funds and do not appear to be trying to deceive anyone or promote illicit use but unfortunately they are the worst PCI compliance violators and the security is nearly non-existent. What is very clear is that they all violate 18 US Code 1960 where:

(a) Whoever knowingly conducts, controls, manages, supervises, directs, or owns all or part of an unlicensed money transmitting business, shall be fined in accordance with this title or imprisoned not more than 5 years, or both.

There are many exceptions but in this case they are clearly providing the service of accepting payment to send an amount of value to another party and that is textbook money transmission. They are also charging outrageous amounts upwards of 200% above the fair market value.  

For example, to buy $50 worth of bitcoin sent on your behalf, it will cost you $100. 

It's not uncommon to pay a 30% mark-up on credit card sales on some market-places like Paxful or LBC and that's because for this market there's allot of customer interaction, education, and support that is required and a $20 sale can take upwards of 10 to 20 minutes. The markup is understandable and you cannot get that with automated services like Circle. 

200% is a bit ridiculous. However, there's nothing illegal about it, they can charge whatever people will pay and this is just about the only legal thing these services are doing. Unethical as it may be.

They are preying on the inexperienced and trying to grab as much money as they can and quickly as they can before they get caught. Something that, as we've seen with companies in this industry, always ends badly resulting in a crash and burn of epic proportions and not something you want to get mixed up in since it also usually ends in loss of customer funds. Especially when you have to wait 4 hours for you money to be sent. Might as well just mail a money order and maybe it'll get there in about the same time.

The worst part is that none of them use escrow. Once you send them your money, there is nothing to protect your funds. As some of them state, they might take up to 4 hours to send anything anywhere, during which time you are sitting there without any funds or any way to dispute the issue other than through your bank which can take days..

Play it Safe 

There are many ways to obtain bitcoin, Paxful has the top spot on Backpage and has the easiest solution tailored specifically for Backpage. However, you can find other legitimate services such as Localbitcoins and Circle along with a few lesser known services like Wallofcoins who are similar to Bitquick, however we do not recommend Wallofcoins, they do not appear to be operating 100% legally and some of the requirements seem a bit sketchy, this may not be the case but it might be a good idea to play it safe here and wait until they mature. Bitquick would actually be the better choice and have been around for a while having shown their ability to overcome adversity 

For this particular market you may want to stick with Paxful if you're new or Localbitcoins if you want to buy enough to last a few weeks and have some experience with bitcoin already. Both Paxful and Localbitcoins allow fast, easy, online purchases of bitcoin. 

If those options are not available or if you just have some extra time to burn, Bitquick or Circle are options, Bitquick has an explanatory guide here for Backpage. Circle isn't the best choice for for this market due to setup time, identification requirements that have to be done online, and purchasing limitations.  That said they are FDIC insured so there's something to be said for that but its an automated service so running into a problem can take days to get resolved if you can manage to hunt down an actual person. In our experience the resolution time is typically between 24 and 48 hours.


The Verdict

  • http://www.creditsforbackpage.com/(not applicable but aiding the others)
    • deceptive 
    • solicitation of illegal services 
    • SCAM
  • http://www.backpagecredits.com
    • illegal operation
    • false advertising
    • deceptive practice
    • PCI violations
    • Non-existent legal entity
    • TOS violations
    • SCAM

  • http://www.bitcoin4backpage.com
    • illegal operation
    • false advertising
    • deceptive practice
    • PCI violations
    • Non-existent legal entity
    • TOS violations
    • SCAM
  • http://www.buybpcredits.com 
    • illegal operation
    • false advertising
    • deceptive practice
    • directt illicit solicitation
    • PCI violations
    • TOS violations
    • Non-existent legal entity
    • SCAM
  • http://www.bitcoins4backpage.com/ 
    • TOS violations
    • PCI violations
    • vunerable to unlawful operations 
    • NOT SAFE but not an apparent or intentional scam

The last on the list appears to be operating somewhat legally and they do have an company address. They actually sell bitcoin and send that to your Paxful or other individually owned wallet address which is not illegal in all states, but illegal in some. Under certain conditions its illegal in all of them and there's no security or encryption, We won't call this operation an illegal or fraudulent one, however it is clearly being operated by an inexperienced staff so they should still be avoided, but they don't appear to be a scam, at least not on purpose. The users on their website seem to disagree and call them scammers directly. We have no evidence of those claims however we still recommend avoiding them for security and safety reasons.

The rest are all involved in illegal activity and SCAMS.

The shady websites are targeting and preying on the inexperienced should be avoided as they are fraudulent. They are operating illegally and using deceptive practices to lure in unsuspecting victims to take part in illegal activity. They may manage to get funds transferred for you at the rate of 200% or more over fair market value but they are doing so illegally.

Fortunately nobody is really paying attention. According to Alexa backpagecredits.com ranks #3,673,010, meaning of all the websites on earth which is about 1 billion sites, they are about the 3,673,010 most popular. In the United states they come in just under 1 million which was also much higher a couple weeks ago. To put that into perspective, dinbits.com is ranked around 150,000 in the United States and 900,000 in the world putting us in the top 10% (yeah we didn't know that either, kind of a shocker huh?) and a million times more frequently visited than the most popular shady backpage-credit site and we don't even sell anything here, our visitors come, read, and go resulting in a higher bounce rate and reducing our stats.

Still 3.6m is better than 50% which is not too terrible but this is recent. A couple weeks ago they were #7 million. They recently stepped up marketing and got some Backpage interfacing which increased the traffic but they appear to have a very low conversion rate. buybpcredits is less popular ranked over #4 million.

Almost all traffic from both of these sites comes from a single article on a site called titsandass.com as a result of the operators soliciting their services in the comments sections of an article posted last year. Basically they SPAM (or spam scam) that area as seen below. Titsandass.com ... Go figure.

backpagecredits and buybpcredits artile spam scam


The problem with fly-by-night services like this is that regardless of their intent, they cause harm and put people at risk. Just look at what happened to Coin.mx last year. Everyone though they were legit and likely even had authorities convinced for a while. The operators of the services here aren't even making the practices appear legit and blatantly conducting the activity while advertising it publicly.

All of the above said, if you're posting an advertisement to Backpage or post frequently as part of your companies business, stick with the legally operating companies we've listed and recommended above.

If you are soliciting adult services on Backpage (hey, we're not here to judge and freedom of speech gives you the right to do so anyway) then just remember that every single transaction can be traced back to you so using an illegal operation practically guaranteed future law enforcement interaction isn't the brightest idea ever conceived. Not to condone that type of activity. 

More importantly there's a good chance you're going to end up losing your money one of these days when it all hell breaks loose and the hammer comes crashing down on these sites.

Like everything, regardless of payment method, product, or service, there are always opportunistic scammers and fraudulent business operators that make attempts to fly in (as in fly by night) and make a quick buck through deceptive marketing and generally illegal practices. Such is this case with these services and it was bound to happen sooner or later. Which is fine, that's why we're here.

Stay safe out there.



Report by dinbits
Image source: dinbits staff

The opinions expressed by authors of articles linked, referenced, or published on dinbits.com do not necessarily express, nor are endorsed by, the opinions the of dinbits.com or its affiliates.














Post a Comment

  1. you call backpagecredits.com a scam, but backpage thinks so much of them that they put a direct link to the site on backpage telling users it is a safe alternative. I know the markup is high, but I use it every day. It is the easiest way for me to get credits and i never been robbed like on paxful. fucked up you saying scam when it works for thousands of people like me every day.

    ReplyDelete
    Replies
    1. That was never posted by the person who ITS claiming and very sad that people are using a false identity whether someone uses a nickname or whatever...just pathetic... i never WOULD send a comment like that one listed above especially using curse words in a public forum! That in itself is messed up I'm not ever coming back to this site.

      Delete
  2. Unfortunately a fraudulent operation is the definition of a SCAM and whereas they may be completing transactions for some people, they are operating illegally and thus the use of the word. We merely report the facts based on the complaints we receive if an investigation reveals any truth to the claim or we otherwise come across a problem.

    The actual numbers differ in that they do not help thousands of people per day since they do not even register a thousand visitors per week according to their site metrics.

    There are many other legitimate services operating legally from which you can purchase. It is unnecessary to use one that is not. If you have an issue with any vendor, feel free to contact us at press@dinbits.com with details and we will be happy to look into the claim for you.

    You ask why Backpage has a link to the b-credit site in the same post that you claim you were robbed by another, yet Backpage also has a link the the other service. It's rather perplexing why you would use these links as a measure of legitimacy for one service at the same time you claim another with the same credential is anything less.

    However, to answer your question, the short version is that Backpage is not responsible for the legality of the operations of the services resulting in sending them bitcoins. The links they provide are not endorsements and the companies are not affiliated in any way.

    Thank you for your input and please note that these facts are merely presented as such for informational purposes only. They are intended to help people make safer decisions when conducting transactions of this nature. Who you choose to conduct business with is ultimately your choice and we truly wish you the very best of luck in that process.

    ReplyDelete
  3. This comment has been removed by the author.

    ReplyDelete
    Replies
    1. Does the writer of this article know anything about Bitcoin regulations ? What if all the bitcoin their are "Selling" is mined ? What then ?

      Delete
    2. This article is a collaborative effort of which a regulatory professional did provide expertise n this area, however the contents of the article is not legal advice and one should always consult a regulatory professional or attorney for direction in these matters.

      In the case of "mined" bitcoins it would be irrelevant in this case since the actual bitcoin sale is not the problem in this case or what the article highlights as a potential issue.

      That said, in states like New York or New Hampshire where you need a license for any type of virtual currency (NY) or monetary value (NY/NH) sale, "mined" bitcoin may not be an covered as an exemption, but again this is not legal advice and we recommend speaking with a professional and/or attorney if you need advice on the legality of any kind of operation in your jurisdiction.

      There are many alternatives operating legally in the United States from which to purchase bitcoins safely and legally to avoid any risk.

      Delete
  4. Hard to take anyone who refers to Bitcoin as "Bitcoins" seriously, but the uneducated buffoon who composed this shitty article has made some very serious accusations -- some you know damn well you're unable to backup. Seriously, you claim a sales rep from that company answered the phone, and said "we transmit money" when that is not even what they do? Hope you can back that up when they drag your ass to court. Those "escort review" sites are all fake --- they are PPC sites that scrape their content from Backpage. BuyBPCredits.com is not advertising on those, and certainly not offering reviews to escorts, you moron. Being expensive hardly equates to being a scam. You're no good at law, let's try at math. They charge $2 per credit --- $1 goes to the actual credit, $1 goes to them, and by them the means overhead, cost of doing business. As far as their time frames, orders are usually completed within 15 minutes, but anyone who uses their service knows why they can take up to four hours --- everything is done manually. Save your bullshit "likely this, likely that". Sorry, they don't half ass shit like you. Buybpcredits.com does not sell Bitcoin. Just because you are unable to grasp this, doesn't change that fact. They sell Backpage credits. BuyBPCredits simply uses Bitcoin to settle invoices with their vendor (Backpage.com). They do not process for Backpage. They, too are a customer of Backpage, you moron. They are a legal entity, with a registered business, and the whole nine. FYI, domains do not have to be identical the the registered entity name. It's very obvious you've never owned a business a day in your life.

    ReplyDelete
    Replies
    1. In addition to cost of the credits, they have overhead to cover, which comes from that $1 in profit you're so offended by. They offer around the clock support. While your stupid ass is sleeping, they're (BuyBPcredits.com in house staff & contractors like Fierce) dealing with customers via phone, text, email, live chat, ticket system AND IN PERSON. Not only are they real on paper they ARE BRICK AND MORTAR. It's clear you didn't do any real research. Did you purposely, or accidently leave out the fact that they have a store in Florida where they service walk-ins at a huge discount???? I hope for your legal sake it was an honest mistake.

      Delete
    2. Thank you for contributing.

      In regards to your comment: "re: expensive hardly equates to being a scam",

      the article states under section "Common Ground" specifically that: "200% is a bit ridiculous. However, there's nothing illegal about it..."

      It appears that you and the author(s) agree on this.

      We research all submissions of articles regarding this type of activity and in this case expended 5 days of research investigating the claims. Regulatory issues were reviewed by professionals experienced in the application of virtual currency to the regulatory framework which concluded the probability of the activity.

      That review stated that the Florida store affiliate was likely operating within the boundaries of the framework under the conditions of a customer paying cash in person and leaving with bitcoin in custody or a redeemable pin for taking custody since the store is an agent of a licensed entity and that transaction would result in the buyers custody of the commodity and/or its value. This appears to be the activity the store advertises and that particular activity appears legal, however, this article does not reference that, nor would it be proper to include an affiliate, since there was no content present in the article in reference to this, thus there was nothing to edit in regards to it. However, had there been, it would have been omitted to avoid insuating ownership or knowledge of any activity not under their direction.

      In other words, what the store does on its own behalf regarding activity it conducts in person with its customers and what the website service is facilitating online are two different types of transactions and it is the online activity that is the subject of the article.

      That of course, is not legal advice nor do we provide any warranty over the contents of this statement, or anything contained in the article. This is merely what was determined by a professional in that space that we have taken under advisement.

      If you have any information to support the legality of operations of the entities disclosed in the article, feel free to contact us at press@dinbits.com and we will be happy to review the material. Alternately we encourage anyone that wishes to write an article to do so, this is a community platform. You can find information on article and press release submissions and guidelines here: http://news.dinbits.com/p/write-for-ndc.html

      Delete
  5. wow, curious as to how much the new CEO of Bitquick paid you to write this hit piece. They are far from being reputable. This is how they are relaunching? With defamation? Why doesn't this article mention they went under in Feb, and just sold to a company that originally had a no BP user policy, just like Wall Of Coins, & other sites. Now, he is trying to cash in on the very same people they snub and discriminate against--- backpage users. Pathetic. Atleast the bp credit companies are up front about their costs, and timeframes. This scam company Bitquick doesn't even list one damn phone number. BuyBPCredits has 3, including the option to text. Pretty soon BuyBPCredits.com will be getting calls from crying Bitquick customers who were robbed. Have any idea have many people who order from different companies call BuyBPCredits.com for help? They are the only company in the biz that actually offers customer support. It is the reason for their expensive prices.

    ReplyDelete
    Replies
    1. This platform does not accept payments for articles and is non-profit. The article does not endorse Bitquick or its reputation and only references the legality of is operation in regards to regulated activity.

      That said, in regards to your question related to the events of earlier in 2016 "re: Bitquick going under", these are indeed well documented on this platform. You can locate them here: http://news.dinbits.com/search?q=bitquick

      We cannot contest or agree with any comments you have made in regards to the operations of Bitquick, however if you have evidence of fraudulent activity conducted by the organization, feel free to contact at press@dinbits.com and we will be happy to investigate the matter.

      As a reminder, dinbits.com does not endorse any company and as stated on every article in regards to its content: The opinions expressed by authors of articles linked, referenced, or published on dinbits.com do not necessarily express, nor are endorsed by, the opinions the of dinbits.com or its affiliates.


      Delete
    2. "Why doesn't this article mention they went under in Feb, and just sold to a company that originally had a no BP user policy, just like Wall Of Coins, & other sites"

      Um, what do you mean "just like Wall of Coins"? Wall of Coins has 0 policies and Backpage.com has integrated with Wall of Coins long ago....

      Delete
  6. This article is a collaborative effort of which a regulatory professional did provide expertise n this area, however the contents of the article is not legal advice and one should always consult a regulatory professional or attorney for direction in these matters.

    In the case of "mined" bitcoins it would be irrelevant in this case since the actual bitcoin sale is not the problem in this case or what the article highlights as a potential issue.

    That said, in states like New York or New Hampshire where you need a license for any type of virtual currency (NY) or monetary value (NY/NH) sale, "mined" bitcoin may not be an covered as an exemption, but again this is not legal advice and we recommend speaking with a professional and/or attorney if you need advice on the legality of any kind of operation in your jurisdiction.

    There are many alternatives operating legally in the United States from which to purchase bitcoins safely and legally to avoid any risk.

    ReplyDelete
  7. paxful.com and localbitcoin.com and paybis.com is all scam

    ReplyDelete
    Replies
    1. I don't know where u are getting your info. but localbitcoin is one of the most creditble sources out there.

      Delete
    2. Agree with Rod ^^

      Delete
  8. We tried to buy credits on backpage credits.com twice with one successful transaction.the site bitcoins4backpage.com that transaction failed so we lost $20.00. Stay away!

    ReplyDelete

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