I'm curious if anyone has seen a working Robocoin ATM? Jordan says on Reddit there are "65 out an live in the world"
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
#52Personally, I've tried five times to make small purchases with Bitcoin (this was several years ago). In all cases I was ripped off and never received product. It's not going to be government regulations that kill Bitcoin, its the associations with illicit drugs, child pornography, and dishonesty of vendors like Robocoin.
I made multiple purchases with Bitcoin both small and large (in particular I've been buying air tickets exclusively with Bitcoin for the past year) and have never been scammed.
Re: The Great Robocoin Rip-off: How We Lost $25,000 Buying a Robocoin ATM
#53Thanks for sharing.
That guy Jordan deserves to be brought in Justice.
Re: The Great Robocoin Rip-off: How We Lost $25,000 Buying a Robocoin ATM
#54Jordan 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…
Reddit threads sometimes provide nice extra context but the armchair lawyering from angsty 22 yeAr olds is unfun.
Re: The Great Robocoin Rip-off: How We Lost $25,000 Buying a Robocoin ATM
#55Jordan 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…
Reddit threads sometimes provide nice extra context but the armchair lawyering from angsty 22 yeAr olds is unfun.
Damnit, you just made me miss Groklaw again.
Re: The Great Robocoin Rip-off: How We Lost $25,000 Buying a Robocoin ATM
#56Earlier quoted context omitted.
First, he's doing the morally right thing by calling them out after a fiasco spanning several months, backed by correspondence. Second, applying public pressure to get his refund is much better than going to litigious way, unless he seeks damages too (which I believe he doesn't - just wants his refund back).
I get that we are on the Internet and everyone gets a voice, but they should have let their lawyers do the talking. Both companies are run by adults I assume, but both are throwing sand in each other's faces running across the playground, in this case reddit, Twitter and HN. Either party can use this as slander I suppose. If Robocoin is still making money, this bad PR might go against them for just a bit, but their "…
I don't think your argument here holds water. Robocoin can't spin this to their advantage. Everyone can read the dialog between the two parties and see what's going on. This is much better way to go about getting reparations than litigation.
Re: The Great Robocoin Rip-off: How We Lost $25,000 Buying a Robocoin ATM
#571. Going public on this shows lack of common sense, since the guy there said that contract had 0 refunds in it... 2. Expecting to pay $25k and pressing a button and then making $2k per month for eternity is NOT wise.
So investments are unwise because you might get burned? I don't think you can find traction for that view here.
Re: The Great Robocoin Rip-off: How We Lost $25,000 Buying a Robocoin ATM
#58Personally, I've tried five times to make small purchases with Bitcoin (this was several years ago). In all cases I was ripped off and never received product. It's not going to be government regulations that kill Bitcoin, its the associations with illicit drugs, child pornography, and dishonesty of vendors like Robocoin.
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.
Re: The Great Robocoin Rip-off: How We Lost $25,000 Buying a Robocoin ATM
#591. Going public on this shows lack of common sense, since the guy there said that contract had 0 refunds in it... 2. Expecting to pay $25k and pressing a button and then making $2k per month for eternity is NOT wise.
Regarding point 1: a contract is an agreement between two or more parties. In this case, Robocoin agreed to deliver a working Bitcoin ATM, and Andrew and Rajiv agreed to pay a certain amount for it. Robocoin didn't do what they promised they would do, or did it badly. Therefore, A&R are not required to uphold their end of the deal - in fact, if they are willing to take the matter to court, they are also entitled to g…
I am often shocked when I hear people lean on that "it's in the contract" nonsense. State and federal law have always superseded contract law, or else people could overthrow the government by means of contracts. It's just a ridiculous notion to hold, as evidenced by the ridicule heaped on it here, reddit, and twitter.
Re: The Great Robocoin Rip-off: How We Lost $25,000 Buying a Robocoin ATM
#60The fraud level in the Bitcoin world is so high that it makes South Florida look good. There's a working Robocoin ATM at Hacker Dojo in Mountain View, CA. Nobody uses it. Nor should they. 15% bid/ask spread, 5% fee. Incidentally, the retail price for an ordinary ATM machine is $2,000 to $4,500, depending on the features ordered. A standard through-the-wall bank ATM is about $9,500. Even if you order every option from…
Ordinary ATMs have economies of scale not available to Bitcoin ATMs, from simply making bigger purchases to distributing fixed costs (like software development). It's also a much safer business - you can be relatively sure the dollar economy won't crash tomorrow and kill your business.
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