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Sent $35,104.11 USD to CoinBase. Never received Bitcoins
101–110 of 515 posts
Re: Sent $35,104.11 USD to CoinBase. Never received Bitcoins
#102Earlier quoted context omitted.
Yes, I am aware of that. I told them in my last email that I will be reversing my ACH if they continue to ignore me.
you should just get it reversed as soon as possible. Combined with the fall of BTC you are lucky to have a "out". Also once you threaten the reversal there isn't much reason for them to work with you. What if they give you BTC tomorrow and you reversed the ACH already.
Second this. Get your money back, live to fight another day. Why ask for delivery and suffer a loss?
Re: Sent $35,104.11 USD to CoinBase. Never received Bitcoins
#103To all of you who say that Bitcoin shouldn't be regulated - this is what it results in. If it was any regulated financial deal - say, purchase of stock or Yen - then there are clear rules on how to handle that, namely, you'd be entitled to at least compensation for any decrease between the 'locked' price at the agreed settlement date and the real settlement, whenever it may happen, and the interest for the period. Re…
No way. Regulation won't solve these sort of things. It will just make the barrier to entry that much higher. Now people have a voice more so than ever before. If companies don't act appropriately, people can post stories and complaints online. The companies reputation will then suffer. This is exactly what's happening here.
Lost reputation is limited to the life of the corporation, going literal here, but once a corporation cease to exist, rarely does the reputational consequences affect the lives and businesses running them, which is usually thanks to regulation and laws.
In this paradigm, where anonymity is rampant, reputation is just a word. As an anonymous entity/non-entity has no consequences to their actions.
Re: Sent $35,104.11 USD to CoinBase. Never received Bitcoins
#104> Further avoidance by them will lead me to make a few calls to news stations. Eek. The best case scenario is that you'll get a news blurb on local TV where you're portrayed as a sucker. "Weird online currency thing does weird stuff in the way you'd expect weird online currency thing to do, and look at this greedy rube who got sucked in and lost it all! Film at 11."
Clearly you don't know who mGrunin is. I'd do a little research before making comments like the one above.
Really? I don't think it would make a huge difference. It just comes off as childish.
Re: Sent $35,104.11 USD to CoinBase. Never received Bitcoins
#105Earlier quoted context omitted.
No way. Regulation won't solve these sort of things. It will just make the barrier to entry that much higher. Now people have a voice more so than ever before. If companies don't act appropriately, people can post stories and complaints online. The companies reputation will then suffer. This is exactly what's happening here.
We've had some recent bitcoin companies simply shutting down/running away while taking the customers' stored funds. Sure, they lost reputation - was that any help to the depositors? And from history of 'classic' banking we know very well that the 'lost reputation' doesn't work - we've tried that all over the world in the earlier times, it resulted in people creating new 'fresh clean reputation' companies one after an…
Tell me how regulation stopped Enron. Tell me how regulation stopped the 2008 financial crisis with the housing bubble. These all happened in traditional markets.
You're right that some Bitcoin companies have screwed their users. Consumers need to educate themselves on who they're doing business with. A lot of these Bitcoin companies operated anonymously without impunity. Coinbase is an entirely different case. They are a US based company with VC backing. You know who you are conducting business with.
If you as a consumer want to purchase something from a company that isn't transparent, you don't know where their located, and don't know who's behind the operation, it doesn't matter whether you send bitcoins or your credit card number. It's still stupid. Common sense must prevail somewhere.
Re: Sent $35,104.11 USD to CoinBase. Never received Bitcoins
#106This was posted to imgur a few hours ago. I have no idea of its authenticity, but hopefully they're just really busy, and will do the right things. Good luck.
"Coinbase being a bro - saved me $400" http://imgur.com/r/Bitcoin/E52ILfD
Re: Sent $35,104.11 USD to CoinBase. Never received Bitcoins
#107Earlier quoted context omitted.
> To all of you who say that Bitcoin shouldn't be regulated - this is what it results in. My interpretation is precisely the opposite of yours. Every other method to exchange bitcoins and USD has been shut down (or at least had its US presence shut down). Coinbase nearly has a monopoly in the United States (I say nearly, because there are certainly still ways to get on other exchanges based in other countries, they'r…
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I'm skeptical of that. Coinbase is easily as well-known as Bitfloor (though granted, I don't have data on transaction volume), and certainly more popular and active than the guy who has creating physical bitcoin coins: http://www.wired.com/wiredenterprise/2013/12/casascius/
Re: Sent $35,104.11 USD to CoinBase. Never received Bitcoins
#108I feel bad for you, honestly. But serious question as well: Would you have went public with this if the price hadn't fallen dramatically? Perhaps if it went back up to $1500 a coin would things be different? Either way I hope things get resolved for you.
If the price went back up to $1500 a coin, Coinbase would cancel his transaction whether he wanted them to or not despite the supposed price lockin (and return his dollars in their own sweet time). Their usual justification is "excessive risk".
They also have an history of halting Bitcoin sales when it's value drops too much.
Re: Sent $35,104.11 USD to CoinBase. Never received Bitcoins
#109Earlier quoted context omitted.
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So if I buy $1 in BTC and then come back to buy $10 in BTC I must be some sort of billionaire gambler. There's nothing out of the ordinary with making large transactions with a company once you trust them. That being said, now that I've cashed out of BTC for a sizable profit I wont be touching it with a 10foot pole.
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Re: Sent $35,104.11 USD to CoinBase. Never received Bitcoins
#110Earlier quoted context omitted.
Which law? I can see something under non delivery of goods paid for but that would just be a civil court matter. If you order a car at your local dealership and then they don't give it to you, that's not something the SEC cares about.
http://www.bankersonline.com/regs/210/210.html http://www.law.cornell.edu/ucc/4A Please explain to a judge how something called 'bitcoin' is more like a car than cash. If it was called bitcar and people were could redeem their bitcars for a ride then you might have a point.
How is it more like cash than a commodity? I can't directly take bitcoins or gold or copper and purchase anything at my local wal-mart. Since the car analogy didn't work for you, lets say I contract someone to buy 1 oz of gold/platinum/etc at a specific price. They don't deliver, are they falling afoul of funds transfer laws or is it a contract dispute?