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Offline Evan

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Is buypts.com a scam? (update - probably not a scam)
« on: November 18, 2013, 08:00:47 PM »

I'm not sure if this is the right board to post this.  Mods, feel free to move it if necessary.

I found on a ProtoShares reddit post a link to buypts.com.  The site looks eerily similar to buymastercoin.com, and it invites site visitors to buy ProtoShares for 0.25 BTC per PTS (!).  Obviously anyone who has researched ProtoShares would understand that the buypts.com price is very much higher than the current market price, but those who have not done their homework might not understand that.

I know better than to send any BTC there, but unfortunately some have sent BTC to the address for buypts.com.  I don't know for sure if it's a scam since no one has reported being scammed, but it feels potentially scammy to me.

UPDATE (11/19/2013):
Based on the conversation with the site owners in this thread, and given that no one has claimed to be scammed through this site, I conclude that buypts.com is probably not a scam.  I have no first-hand experience with buypts.com since I prefer less expensive ways to buy ProtoShares, but as long as the owners are upfront about the cost and do what they say they are going to do, they are welcome to charge whatever the market is willing to pay for ProtoShares.
« Last Edit: November 19, 2013, 11:48:15 PM by Evan »

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Re: Is buypts.com a scam?
« Reply #1 on: November 18, 2013, 08:24:48 PM »
if it's too good to be true - it is.
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Offline Amazon

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Re: Is buypts.com a scam?
« Reply #2 on: November 18, 2013, 08:46:51 PM »
Yes, it is. Please do not trade there.

edit: I confuse this site with another scam site. I withdraw my statement and apologized for it.
« Last Edit: November 19, 2013, 06:47:58 PM by Amazon »
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Offline srcgpsmp

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Re: Is buypts.com a scam?
« Reply #3 on: November 19, 2013, 08:33:12 AM »
No it isn't ,you can try it and see for yourself.
Yes the price is way above the price on http://www.btc38.com/trade.html?btc38_trade_coin_name=pts or http://bter.com/trade/pts_btc but buypts.com is not an exchange, it is privet offer for costumers who don't have the skills or the knowledge to get in to ProtoShares.
Btw
http://www.buymastercoin.com/ selling 20X more then market value also(see-https://docs.google.com/spreadsheet/ccc?key=0ApGPLGUd5ZCzdHFxbnhHQjBDSDVKamY5UHlWdkNMNWc#gid=0)

From my understanding mastercoin offer more or less the same things bitshares do accept ProtoShares offer even more so I don't see any reason why ProtoShares would worth less then MSC(0.49BTC).

Offline arubi

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Re: Is buypts.com a scam?
« Reply #4 on: November 19, 2013, 09:10:00 AM »
I'm gonna chime in and vouch for this, as this is part my own project, along with srcgpsmp.

This is the same thing I've been saying on irc.
Protoshares isn't just another alt-coin. It's an investment of either computing power or money into an asset that is essentially the skeleton of all other assets that will be traded in bitshares.

I think with current and projected difficulty, and given the low (relatively) quantity of publicly available protoshares, 0.25btc/pts will soon be a reality for people who have no interest exchanging or mining protoshares.

Take of it what you want, but please don't spread FUD about this site as we've never, and are not going to, ever steal, scam, lie, cheat or fraud you out of your btc/ltc.

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Re: Is buypts.com a scam?
« Reply #5 on: November 19, 2013, 09:22:46 AM »
I'm gonna chime in and vouch for this, as this is part my own project, along with srcgpsmp.

This is the same thing I've been saying on irc.
Protoshares isn't just another alt-coin. It's an investment of either computing power or money into an asset that is essentially the skeleton of all other assets that will be traded in bitshares.

I think with current and projected difficulty, and given the low (relatively) quantity of publicly available protoshares, 0.25btc/pts will soon be a reality for people who have no interest exchanging or mining protoshares.

Take of it what you want, but please don't spread FUD about this site as we've never, and are not going to, ever steal, scam, lie, cheat or fraud you out of your btc/ltc.

shall we test it then?

I wish to sell 100 PTS for 25 BTC - you will go first.

BTC: 1SCAMy3QcVgYU3d2a3ATidF2VQ6FDW5P3 (< serious address btw)

I'll send PTS as soon as I'm at home.
« Last Edit: November 19, 2013, 09:25:20 AM by favdesu »
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Offline srcgpsmp

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Re: Is buypts.com a scam?
« Reply #6 on: November 19, 2013, 09:44:53 AM »
"I wish to sell 100 PTS for 25 BTC - you will go first."-You can post it on sell sub forum not here.
If you don't know the meaning of the word SCAM you should look it  up in the dictionary.

« Last Edit: November 19, 2013, 09:49:47 AM by srcgpsmp »

Offline arubi

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Re: Is buypts.com a scam?
« Reply #7 on: November 19, 2013, 09:46:48 AM »
I'm gonna chime in and vouch for this, as this is part my own project, along with srcgpsmp.

This is the same thing I've been saying on irc.
Protoshares isn't just another alt-coin. It's an investment of either computing power or money into an asset that is essentially the skeleton of all other assets that will be traded in bitshares.

I think with current and projected difficulty, and given the low (relatively) quantity of publicly available protoshares, 0.25btc/pts will soon be a reality for people who have no interest exchanging or mining protoshares.

Take of it what you want, but please don't spread FUD about this site as we've never, and are not going to, ever steal, scam, lie, cheat or fraud you out of your btc/ltc.

shall we test it then?

I wish to sell 100 PTS for 25 BTC - you will go first.

BTC: 1SCAMy3QcVgYU3d2a3ATidF2VQ6FDW5P3 (< serious address btw)

I'll send PTS as soon as I'm at home.

Did you even read what's written on the website? Where does it say we're buying?
I'll happily legitimize my service, but we are sellers of Protoshares, not buyers.

Please stop with the FUD, we have never scammed anyone.

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Re: Is buypts.com a scam?
« Reply #8 on: November 19, 2013, 09:52:31 AM »
I'm incredibly sorry, I thought you wouldn't have a problem buying for 0.25, since you value @0.25. You'd take 0 loss and could show your intentions to the public.

But I agree, no need to spread FUD, this site is driven by greed :)
► How-to Buy BitShares: https://goo.gl/i9j2YZ

Offline srcgpsmp

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Re: Is buypts.com a scam?
« Reply #9 on: November 19, 2013, 10:15:50 AM »
 :o
« Last Edit: November 19, 2013, 10:29:39 AM by srcgpsmp »

Offline arubi

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Re: Is buypts.com a scam?
« Reply #10 on: November 19, 2013, 10:24:10 AM »
I'm incredibly sorry, I thought you wouldn't have a problem buying for 0.25, since you value @0.25. You'd take 0 loss and could show your intentions to the public.

But I agree, no need to spread FUD, this site is driven by greed :)

Please, I asked once before to keep this civil. There's no need for sarcasm.

Now, I've been running a retail store a good part of my life, and this is how retail work. If you want to buy a gold ring, you go to a store and pay extra for the same amount of gold you could have gotten if you bought it in bulk from a supplier, took it to a goldsmith and designed the ring by yourself.

This is the case with crypto's. If you want a Protoshare, you either fire up every single idle core you have in your house, or you start walking down the beaten path of "USD -> BTC/USD -> BTC/PTS". Not everyone have time for these things and many, as our research show, would happily avoid this headache for a fee.

I don't mind being called greedy, it's just an insult on the internet, but if you really agree there's no need for more FUD, please either remove this post from the scam accusations sub-forum or at least make it clear that our business is not a scam, and there was never evidence of a scam.

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Re: Is buypts.com a scam?
« Reply #11 on: November 19, 2013, 10:29:35 AM »
This is Scam Accusations for a reason. So unless someone from this forum decides to test your service and vouch for it, the accusation will stay up.
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Offline arubi

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Re: Is buypts.com a scam?
« Reply #12 on: November 19, 2013, 10:32:49 AM »
This is Scam Accusations for a reason. So unless someone from this forum decides to test your service and vouch for it, the accusation will stay up.

From the rules :


Scam Report Format

Copy and paste the following in new thread then fill all data.

Code: [Select]
[b]What happened:[/b]
[b]Scammers Profile Link: [/b]
[b]Reference Link: [/b]
[b]Amount Scammed:[/b]
[b]Payment Method: [/b]
[b]Proof of Payment:[/b]
[b]PM/Chat Logs: [/b]
[b]Additional Notes: [/b]

Scam report example:

What happened:
I saw Amazon's thread 4 days ago and placed a order for 10000 ProtoShares. After I sent him payment, he just went offline and never came back. I think he's a big liar and a scam. Stay away from him.
Scammers Profile Link: http://bitsharestalk.org/index.php?action=profile;u=1
Reference Link: http://bitsharestalk.org/index.php?topic=658.0
Amount Scammed: 100BTC
Payment Method: Bitcoin
Proof of Payment: Blockchain transaction
PM/Chat Logs: Picture link of the screen shot
Additional Notes: I advise you to not deal with this user until this dispute is resolved.

Some Tips:
  • Search about the scammer first, use google to search for his/her details, other forum profiles, past scam reports and link to them in your scam report.
  • Always try to provide chat/PM logs as a screenshot if it's possible.
  • Use sites like https://imgur.com to upload images and https://pastebin.com or http://pastie.org for text based chat logs, although these may not be treated as good proof due to possible fakes.
  • Make sure to provide as much as info you have, like the payment address, instant messenger ID's, etc.
  • Use escrow and be safe.


This post does not follow the forum rules, why should it stay up?

Offline Amazon

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Re: Is buypts.com a scam?
« Reply #13 on: November 19, 2013, 03:31:16 PM »

This post does not follow the forum rules, why should it stay up?

We open this board not only for the reporting after the scam happened, but also for any accusation user want to make based on their observation. The scam reporting format is merely a suggestion,  it is totally ok and allowed if user is suspicious about an exchange site and report here. I believe the site owner will contact mods if they think they are misunderstood or the accusations are unfair.

We want to build an open community for discussion. Format is not a big issue, although we suggest users follow the format in some particular boards.
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Offline arubi

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Re: Is buypts.com a scam?
« Reply #14 on: November 19, 2013, 05:12:35 PM »

This post does not follow the forum rules, why should it stay up?

We open this board not only for the reporting after the scam happened, but also for any accusation user want to make based on their observation. The scam reporting format is merely a suggestion,  it is totally ok and allowed if user is suspicious about an exchange site and report here. I believe the site owner will contact mods if they think they are misunderstood or the accusations are unfair.

We want to build an open community for discussion. Format is not a big issue, although we suggest users follow the format in some particular boards.

Fair enough, can we at least establish that there is no scamming going on on Buypts.com ?

 

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