Topic: [absolved] Recalescenece Coins being black mailed for #1 coin (Read 744 times)

w t f (2)

I had protected your identity, in fact, I still protect it. You are bitter, you say so yourself. I'm sorry you didn't get a lower number, people beat you to them.

You were the 18th customer. or at least, the 17th. You were the first online customer, and plenty of people would be thrilled to get #18. Only #1, #16 and #42 were litterally reserved, with #1 being auctioned to a chartiy at a future date.

 Listen, if you are that unhappy you can send the coin back, and I will give you a full refund plus the cost of shipping.

This is me. You can reference the post to funds deposited, and the coin being funded an hour after.

Frankly, if this were blackmail I would not have stayed up all night following my hunch so that I could get this email to you before you had a chance to send more coins.

If it were blackmail I would have waited until more coins were shipped, when the risk would have been significantly greater to OP.

And finally, if it were blackmail I would have gotten the blackmailing done without ever purchasing a coin.

Though I appreciate you taking this opportunity to make this ordeal something positive for yourself and your company, I can't help but think that I've been lied to and cheated.

I knew that I would be one of, if not the first people to buy a coin. So I took a chance.

"Q. Why isn’t the Bitcoin address of my coin on the hologram?
A. We wanted to serialize each coin as it was sold in numerical order of their purchase on a first come, first serve basis."

-https://recalescencecoins.com/faq/

In no way does Recalescence indicate that if I am person who has purchased the first coin that I will not receive the first coin.


In no way has Recalescence indicated that coins that have not been purchased have been reserved for his own personal use or choice of distribution.

Given that the serialization is what provides valuation to Recalescence coins above 1 BTC + 1 oz silver, Recalescence has reserved the first 13 (the first 12 funded, and #16 being "reserved") most valuable coins for his own personal use or choice of distribution.


You seem to think that you are exempt from the possibility of scamming your customers. Your negligence in decent business practices is undermining the value of your product at a rate of ~0.5 BTC/coin.


It seems more like you are using this opportunity to discredit me by patronizing every other line in my email, and draw attention away from yourself by accusing me of blackmail. There is no misunderstanding - this is just you taking advantage of the fact that I intentionally gave you warning before this information goes public. This is your playing field.

This is your playing field, and you have yet to identify what the misunderstandings are, and how you plan to correct them.


Your rhetoric is good, but come on, stand by your product.

At best, this is negligence, and at worst fraud. At the very minimum the product you receive is not the one that you purchased.

Recalescence Coins, LLC is committing fraud by distributing the 13 most valuable coins at the discretion of Recalescence Coins, LLC instead of the order in which they were purchased. Recalescence Coins, LLC has not indicated that any action will be made to correct this.


I offered my help in what could be a turning point for your company. Considering the time already invested, and the time I'd expect to spend, this is a reasonable amount to request.

I'm offended that you have publicly defamed my identity without reasonable evidence to back up your claims. I am shocked that you are accusing me of blackmail for that which should be rightfully mine.

You are paying a ~0.5 BTC premium on Recalescence coins until the following takes place:

• Refunds issued for all coins sold equal to the difference between the price paid for the coin and 1.0 BTC + 1 oz silver in BTC.
• Re-serialization of all coins, PGP signed to indicate this is the re-serialization, and therefore valid.
• Transparency concerning the coin that will be received when a coin is purchased.

I am bitter that I took a risk in being your first customer and you treated me like the 18th. I'm pissed off that I paid a ~0.5 BTC premium on an ounce of silver. I'm frustrated that your choices make me feel obligated to address this problem with your product. I'm astounded that when I try to offer help, and request that which is rightfully mine, I'm accused of blackmail.

You might feel a little better once you see the table of holograms ive accidently ruined while placing the hologram... your serial will say one thing, but its not representative of what is actually in the wild.

we'll be posting that table later this week as well as a picture of my "wall of shame" where I stick the failed holograms.

Wow. Someone is pissed.

In all seriousness though i bought early to get a nice low number and it seems that i could have been a little lower too. No issue i suppose but you never know with these things

heh, he is right though, except for the fact that for every coin I sell I have to buy that silver again.

oh, and make some sort of profit. It really does take a lot of work doing this...

edit: one improvement that will come from this is that the address that coins are funded from will be gpg signed as belonging to recalescence coins, incase someone tries funding a dead coin.

to this user: ill buy it your coin (with escrow) for 1.2 bitcoins, above the 1.1945 you say its worth.

Ok, so here's an email I got from one of my first customers. Obviously there is some misunderstandings contain herein where I think I should address point by point.


Dustin,



Are you sitting down?

yes.

Your financials are completely transparent, and I know that of the 16 coins that have been funded you funded 12 of them yourself, and began shipping starting with the serial #18, despite the fact that there are lower serials unfunded.

I know they're completely transparent, thats kinida the point. if coins are unfunded it means one of three things:

The coin is reserved as payment for a developer, artist, etc for helping me get the business off the ground or,

It is an international order, which are not loaded until arrival. This is to protect myself and the customer incase it is lost or damaged in shipping, as then I would just be eating the cost of the silver and could refund the customer, or,

I screwed up placing the hologram. In which case it will never be funded. We will be posting a data table this week detailing those coins.

Let alone the fact that you did not begin shipping from serial #1, this is enough to compromise the posterity of your product. Given the above, I would not value a Recalesence Coin above 1.1945 BTC, that is 1 BTC + the cost of 1 oz silver in Bitcoin.

I offered my coins on a first come first serve basis. The #1 coin has gone to my grandfather who is not long for this world. On his death I have not decided whether to give it to my dad, or auction it off to a charity.


Given that I am the only one to receive a coin at this point, I’m about to offer you my consultation services with the sole intent of disaster mitigation and recovery. Should you decline my offer, and otherwise neglect to take the steps necessary to fix your product, I will publicly provide the information and direction necessary for a potential customer to determine that you have grossly misrepresented the product that you are selling. As a consumer and proponent of Bitcoin, it’s my obligation to make this information public so long as you continue selling and shipping these coins as is.

I am glad you have recieved your coin, but I am in no need of your "consultation services". I'm making the information as public as possible, as I have nothing to  hide, and where I can improve, I am only too willing to get advice in.

As stated previously, I am offering you my consultation services with the sole intent of disaster mitigation and recovery. Since I’m the only one who has a coin and I’m the only one who has identified this issue there is still an opportunity to fix the product before refunds need to be issued, and silver liquidated. I am doing this because I would rather see a business succeed than to watch a man's name tarnish.

I would like to believe that

Disaster mitigation covers the following:

This email.

mmm k

Services already rendered in analysis of blockchain and PGP signatures.

go on...

Services already rendered in identifying a problem that reduces a Recalesence Coins value by ~0.5 BTC.

I'm listening

Direction on how to move forward. (THE FIRST HINT IS DO NOT LET THOSE 4 COINS SHIP TODAY! ), spin the problem into something the forums will eat up.

uh huh

Critical items that must be done now to protect your company during the recovery phase.



Recovery covers the following:

Streamline the serialization process

its working exactly as intended

Advisement on address management to keep company’s financials out of the public eye.

I want the financials IN the public eye.

Assist in gaining public trust via transparency.

I think I'm doing pretty good on that front.

Prioritizing organization, to get back on your feet as soon as possible, with scalable growth in mind.







What are my qualifications? We can start with the fact that I’m effectively calling you out on fraud based on analysis of the blockchain and some PGP signatures. Here’s some other information I gathered.



Coins 3 (I know that was the demonstration one), 9, 10, 14, 16, 19, 20, and 22 have not yet been funded.

that is because of the above. either reserved (16 actually is the only one reserved) or I screwed up the hologram placement in which case they will never be funded.

Coin 24 was very likely the last one sold/funded.

I think that is correct. the others are international orders, though I do have some USA orders to pack and ship and fund later today.

Of the 16 coins that have been funded 12 of them were funded by you.

that is exactly right

The 12 coins funded by you were funded in this order: 15, 17, 13, 12, 11, 7, 8, 5, 6, 4, 1, and 2.

ok

The first coin purchased was mine - the coin being funded at 5:38:32 August 14 2013.

yup

3 more coins, #21, 23, and 24, were funded Saturday between 17:45:14 and 17:46:43, however these were from orders.

One of the orders with the deposit address 1PoEKaEzYn9ZfdUEPoxRwboap6adnV8ux5 ordered 2 coins, but I don't know which one you're shipping him. Doesn't look you funded a new coin for the occasion.

International order, as stated for reasons above. Also, on large international purchases we save TONS of hassel in customs where the value of the product being shipped really comes  into play with regulation and such.

Following is the order in which you funded coins that actually correspond to orders: 18, 21, 23, 24.

You signed 498 PGP messages between 8/4/2013 22:54:31 and 8/4/2013 22:56:28.

Serials #1 and 2 were signed on 8/12/2013 18:40:33 and 8/12/2013 18:41:36 respectively. 8 days after the initial batch of 498.

This address, 1HW8kKXk8ABMnDKwURSM8X6hWYZ4kmiTcX, is where you're keeping your revenue from this project.

That is correct

I'm assuming this address, 1FX2FSujA3sLKsjHrkVN6kZ1NvUkzNxwPo, is for the next batch of Silver?

That’s the best resume I can give on short notice.

You've done a good job


This is what I’m asking in return for my consultation services:

Coin #1, as it should have been sent to me in the first place.

Sorry, no, that belongs to my grandfather.

5 BTC immediately as confirmation and acceptance of services

Also no.

4 BTC as progress payment at the end of disaster mitigation phase (that would be due this evening)

The no continues

1 BTC held as retention until coins are put back up for sale.

no

Payable here:



15YVnvaw6PXUhXzr6ndEewyNbCmAFEfDwZ

still no


The price is reasonable considering services already rendered. The risk is liquidation of silver, and any chance of recouping manufacturing costs.



This is not a threat. I am in no way shape or form leveraging my knowledge to get Bitcoin from you. The circumstances under which I will make this information public is if you do not fix the product, and continue to sell or ship the product.







Good luck,



Dillon Bigglesworth



It certainly sounds like a threat, although In the case that I am wrong, I want to applaud you in your dedication and detective work. Scams are all over the place in Bitcoin land and I am happy that there would be those that would take the time and effort to weasel them out

However, I think this is at best a misunderstanding, the fault of which is attributed to me. I will take the necessary steps myself to correct them.

At worst, this is a thinly vailed ransome note. In which case, I want you to look at the back of your coin, read the words at the bottom and how they relate to bitcoin, and know that they relate just as much to me.




below is my orginal email to Mr. Bigglesworth
On Sun, Aug 18, 2013 at 10:58 AM, <[email protected]> wrote:

Hi mr. Bigglesworth,

By now you should have received your coin, and I would be very grateful for any feed back you could give us as to its condition on arrival.

Thank you for purchasing from us. I hope you put that coin to good use on display, and as a conversation piece when discussing Bitcoin.

Cheers,

Dustin Freeman
Recalescence Coins, LLC

-----------------------------------


The name of the customer has been altered to protect him/her.

I am not perfect. The way I run my business is not perfect. But I am dedicated to making it better. I am dedicated to my customers and Bitcoin. For those willing, I really do value your input. Please use our contact page on the website or respond to this thread and I will answer it as soon as possible.

-Dustin Freeman