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The Great Robocoin Rip-off: How We Lost $25,000 Buying a Robocoin ATM

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Re: The Great Robocoin Rip-off: How We Lost $25,000 Buying a Robocoin ATM

#131

Post by eric_bullington »

knowaveragejoe wrote: post #58
eric_bullington wrote: post #44

Earlier quoted context omitted.

On the other hand, I've been into Bitcoin since early 2011, have made hundreds of purchases with Bitcoin, gotten made for major contract jobs in Bitcoin, paid other contractors in Bitcoin, and never been ripped off. You just have to exercise some caution and do your due diligence. Unfortunately, Bitcoin has attracted more than its fair share of scammers -- in part because the core community was at one time pretty nai…

While that's all well and good, I don't think that will translate so well into the mass market. At least not for some time.

That's OK. As long as there is a large enough population using Bitcoin to create a small economy, that's fine with me. Right now, I get paid in Bitcoin, and pay for about 40%-50% of my household expenses in Bitcoin (and increasing monthly).

For people who are attracted to Bitcoin for ideological or technological reasons, mass adoption would be nice, but it's not as important to us as it is to the massive wave of "to the moon!" speculators who came in last fall.

Re: The Great Robocoin Rip-off: How We Lost $25,000 Buying a Robocoin ATM

#132

Post by Zlatty »

aleem wrote: post #39

Jordan Kelley has posted his response on Reddit http://www.reddit.com/r/Bitcoin/comments/2jakg4/the_great_ro... Judging from the replies, it seems to have backfired probably because he did not acknowledge the errors on his side (shipping a lemon, unresponsive over email and not having provided a refund yet). Worse, he doesn't seem to realise that the name-and-shame was a result of his and ultimately RoboCoin's action…

Someone gave him gold for this. Talk about waste of money.

Re: The Great Robocoin Rip-off: How We Lost $25,000 Buying a Robocoin ATM

#134

Post by tyang »

nikcub wrote: post #86
marklittlewood wrote: post #66

Earlier quoted context omitted.

Like a bank is going to offer trade finance on this?!? Seriously. That should be clue enough.

Not sure what gives you an impression that there is some minimum amount for a trade finance deal. Bank guarantees are a form of trade finance, and you have other simple instruments. A google search brings up 2 or 3 providers who would do an online quote for amounts starting at $10k. Structured trade finance is a whole other matter, that is where you have bespoke instruments and teams working on deals - usually with b…

Maybe Mark meant a bank one would have heard of? :)

Re: The Great Robocoin Rip-off: How We Lost $25,000 Buying a Robocoin ATM

#135

Post by tyang »

Zlatty wrote: post #132
aleem wrote: post #39

Jordan Kelley has posted his response on Reddit http://www.reddit.com/r/Bitcoin/comments/2jakg4/the_great_ro... Judging from the replies, it seems to have backfired probably because he did not acknowledge the errors on his side (shipping a lemon, unresponsive over email and not having provided a refund yet). Worse, he doesn't seem to realise that the name-and-shame was a result of his and ultimately RoboCoin's action…

Someone gave him gold for this. Talk about waste of money.

Unless the giver was highly entertained?
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