Topic: all finished - page 2. (Read 4289 times)

Good job waldo! keep up the good work

I don't think we should cash the cheques, that's like accepting a USD refund. We should be refunded full BTC amount.

Did you get a force refund for the orders or have you heard? If you do get cheques what is the current plan? Cash, convert and payout?

Phil

Xeon, if we use the lawyer it will be 45% off the top of our original purchase price back if we win... 40% goes to the lawyer, 5% goes to Waldo for having managed the account... To answer anyone's question we will never get back 100% of what we paid in btc... Waldo has his fees he justly deserves for having managed the account, however even if we manage to win after having lawyer'ed up we'd still make back the value of about 5x (give or take) what we originally invested based off buy in, in cash in August... They may yet still return the btc at a loss of only 5%, but it's a game of waiting, the longer we wait to lawyer up the bigger chance of a natural btc refund without lawyer, but we've explored the route if we need to take that course... Yes money is money, but like all forms of investment and cash holding, waiting is an integral and key part to it... Waldo has our best interests at heart (because when we make a bigger cut back so does he) so sit back, relax and in the next 30 days we'll know if we'll have a refund or if we're going to court... It's a process, and it sucks... I'd love to have held into my btc too, but if you don't have money to never see again don't invest, it's the same as gambling...

We can best now for Wait it out and hope for Baby Jets. because this is nonsense.

and is there a way to call them by phone? they probably wont answer but if they do they have to give you a response in the moment without to wait a response mail.

Waldo just request the money back because this will be end of 2014 still not resolved.
Or get the machine!

So what's next now ?

I very much doubt it.

We will never get the full amount back or do we ?

That's actually a valid question. I personally would try to get btc anyways. Main reason and risk taking when purchasing a miner is to mine btc in order to get more btc rather then keeping btc and hoping for it's value to rise.

Of course I state it now when the value of btc have risen 10 fold so I can be biased ;-)

I'm just wondering, had btc price fallen down to say 30 or 10 dollars, would HF have returned the btc or dollars to us?

They choose if they receive USD or BTC from Bitpay. I believe this is irrelevant as they promised btc refunds. Of course they now try to sneak out of it and I guess this is mostly what the suit is going to be about.

On second thought I think that going with legal actions will be the better solution for this, but before that, isn't better to ask for a full BTC refund and tell them we will go ahead with legal actions if we don't receive it?

Also I was thinking in something... did them used BitPay to receive the payments of the BabyJets? If it is true the company would never had our bitcoins and them received the USD payment through the payment processor... in that case, we are able to ask for a BTC refund? I'm really confused with that

IANAL but as I understand the law it seems pretty clear from the examples I read when I was considering a lawsuit against Butterfly.  In a time sensitive contract, delivering late is a breach and is subject to any penalties a breach may bring.  I didn't wind up pursuing butterfly, because I didn't have enough invested to be worth my time.  I feel the same here.  I don't have the time to pursue the ~4 btc I gave to this Group buy, but if WaldoHoover chooses to pursue a lawsuit I think we will be in the right.  Unfortunately, being in the right isn't everything.  If we are in the right to sue, every one of their customers will be as well.
My Suggested course of action would be to continue to pursue a full BTC refund, and if we receive anything less (late delivery or partial refund) we sue.  This is of course contingent on what Waldo wants to do, he is the one that needs to spend the time on it.  I think we should certainly accept delivery as long as we still think we can mine more than the partial refund they are offering.

All of that said, I will not complain whatever is decided.  I knew this was a gamble going in.  I would have been far better off had I never pursued mining and just held my BTC, but dollar-wise I am still way up, so I am not losing any sleep.

does the option of legal action mean the guy who wants to take 40% of whatever we get back or are there other legal options possible?
because as much as I want to take the legal action way, paying 40% feels like being ripped off again and I don't want that either.

edit: I reposted the question on the original thread since the discussion is going on there..

fuk em, legal action all the way, shits personal now. plus it will help the mining community for the greater good if the people win this one.

That is perfect that there pay the full bitcoin amount back.

Didn't they originally claim that they would refund the original amount in BTC if they couldn't deliver on time?

Then feel free to vote as such in the poll up above. I'm not convinced by your argument, myself. Inability to collect on a judgement is always a risk in legal action, but I'd rather drive those assholes into bankruptcy and come out of it with half of what I could have made in their BS "refund" offer rather than knuckle under and let them continue to profit off the BTC community through their scummy tactics.