Author

Topic: Bitcoin Penny Company Issues- Undelivered work/Money owed/Lack of updates (Read 584 times)

donator
Activity: 4760
Merit: 4323
Leading Crypto Sports Betting & Casino Platform
BP reached out to me for a collaboration once. He tried to get me to generate addresses and engrave them on coins for him for next to nothing, saying I would benefit from working with his brand. When I denied it he distrusted me in the trust network and started saying bad things about me, even threatening to sue at one point. I’ve avoided him ever since. I’m not surprised at anything I’m reading.
legendary
Activity: 1960
Merit: 1062
One coin to rule them all
It pains me to read this thread. I have always loved the doodles from BitcoinPenny.
I even had one custom made for a present to my girlfriend once.

I have no other choice than ~BitcoinPenny on my trust list.
legendary
Activity: 1456
Merit: 1242
Hello, everyone.

Normally, I choose to stay far away from rumors and blind insinuations, but it now seems that it may be best to address some of the new accusations that are being thrown around about me and the company.

First, we are only behind on six (6) Spanish Treasures orders. That’s all. Six. (Full disclosure, there was a seventh, but that customer still owes $1,000 on their Spanish Treasures order, so we’re negotiating on the balance to get them sorted, and they should be straight by the weekend.)

Second, yes, we had a rough 2023. It was bad, but we’re almost through it all. (As I said, only a few more orders left to go out until we’re all caught up and in the black again.) Having a bad year is nothing to be ashamed of, and I’ve publicly stated that 2023 was rough on the business. That’s no secret. But having a bad year and being behind on orders does not make someone a bad person. A good person can go through a hard time. And as long as that person is striving at their best to make everything good and all customers whole, then they’re doing the right thing in my book. And that’s exactly what I’m doing.

Third, most of the people spreading rumors and accusations had never ordered a single Spanish Treasure and were never owed anything, so I can only guess as to their intentions and motivations for spreading falsehoods about me. (My favorite rumor is that my vehicle is leased. What an obscure lie to tell. It’s so weird. Maybe that’s why I like that one best. Gold star for creativity, rumor-spreader!)

Fourth, I’m truly sorry about Moonie’s struggles with us and PayPal. However, the idea that we actively stopped payment on any refund is simply untrue. The truth is that when PayPal charged that business account for the refund funds, the account didn’t have the full amount, so the bank didn’t approve the withdrawal due to insufficient funds. And after that unsuccessful attempt, Moonie told me that he’d still like the gold coin if I could make it for him, so I told him that I would try to get him that gold coin by year’s end. I mentioned that PayPal might still try to attempt another withdrawal. He assured me that if the withdrawal was attempted and received, then he would simply return the funds directly back to me, provided that I send him the gold coin. So I was working on getting him that gold coin made when PayPal tried the withdrawal again. At this point, I’m confused as to which I should have focused on—the refund or the coin. However, now that PayPal has made Moonie whole, the point is moot. For what it’s worth, I’m happy that Moonie got his refund. He’s a good person, and I like him a lot. To be clear, in my opinion, Moonie did the right thing by stating his case publicly, and I applaud him for it. (I still love you, Moonie.)

Fifth, it’s true that I took a personal loan of 1.0 BTC a few years ago. That member agreed to receive free products from every release as a sort of “interest paid” on the loan as long as the loan was outstanding. In retrospect, I should have focused on paying the loan off sooner. However, that person never once inquired about when I might pay it back, and of course, he was always happy to receive his many free products. However, again, it was my mistake to let that loan go so long, and I fully intend to have that repaid by summer 2024. In fact, I’ll be reaching out privately to that person tomorrow to make the arrangements.

Lastly, I want to readdress the first thing above. There are now only six (6) Spanish Treasures orders still outstanding. That is all. Of course, any outstanding order is bad for business, but it’s a far, far cry from the absurd rumors of Ponzi schemes and skipping town to the Maldives Islands or to wherever one flees with absconded millions.

The Bitcoin Penny Company has been serving the crypto-community for 10 years, and once we move past these last few orders, we plan to unreservedly serve the community for 10 more years and beyond.

In the meantime, if any of those six customers have any more questions or concerns about their orders, they may feel free to reach out to me anytime. I’m not hiding.

Thank you for taking the time to read this post, everyone. And have a great new year. Smiley

Regards,
Chris@TBPCo.

You are right.  I did not buy any of these new coins.  Smart move I'd say!  I'm just incredibly pissed you're living your best life and buying/attempting to buy collectibles when you are in MAJOR debt.... especially trying to buy from the person you owe... what a slap in the face!!  Did you figure out why they said no now??
....and as far as them receiving "free" items as "interest".... it's been a long ass time since they've seen anything.  Do you realize you have NEVER even tried to repay a single Sat of that loan and it's been YEARS?  You are just VERY full of shit saying it was a bad year as that's the new go to crutch and it gains sympathy.  I'm surprised I didn't hear about supply chain issues as well.  If things were really soooo bad you wouldn't be trying to buy other collectibles.... period!!!  Shit... one collector sent you (4) 1/4oz gold coins to cover their 1 oz gold pirate coin.... they still don't have the one ounce pirate coin or the (4) 1/4 oz coins they sent you.... now that's an impressive feat to pull off.

You just ALWAYS try to make it sound better than it really is with a big old word salad.... that's what makes it infuriating.  

I have no vendetta against you... I have met you personally multiple times... I really thought you were a good guy, but the consistent lies, bending of truths and actions speak for themselves.


p.s. the only kind of loan you could have taken was a personal loan as there is no record of the BCPCo.... That's why it's so easy to confuse customer funds from personal funds eh??
Again, trying to soften the look of 1BTC owed by saying "it's true I took a personal loan...." like it had nothing to do with the BCPCo  Roll Eyes

So disingenuous!!


EDIT:  Something else was really bothering me about your post... and then I realized it's just more of you trying to downplay how f**ked you really are:

First, we are only behind on six (6) Spanish Treasures orders. That’s all. Six.

So nobody else is owed huh??  How about the ridiculously expensive 10th Anniversary Mega coins that you've collected on??  Those don't count??

....or what about the DIY silver dollars??  You've collected on those... but i'm guessing those you don't count those either??

Look in the mirror and lie to yourself all you want, but these are NOT the actions of a "good" person! 
I also call bullshit on you "doing your best."  Someone doing their best would not have the audacity to be buying collectibles while owing somewhere between 50-100k to customers and a friend who trusted you!  Complete disgrace IMO!!!

hero member
Activity: 1035
Merit: 659
friendsofsatoshi.com
Fourth, I’m truly sorry about Moonie’s struggles with us and PayPal. However, the idea that we actively stopped payment on any refund is simply untrue. The truth is that when PayPal charged that business account for the refund funds, the account didn’t have the full amount, so the bank didn’t approve the withdrawal due to insufficient funds. And after that unsuccessful attempt, Moonie told me that he’d still like the gold coin if I could make it for him, so I told him that I would try to get him that gold coin by year’s end. I mentioned that PayPal might still try to attempt another withdrawal. He assured me that if the withdrawal was attempted and received, then he would simply return the funds directly back to me, provided that I send him the gold coin. So I was working on getting him that gold coin made when PayPal tried the withdrawal again. At this point, I’m confused as to which I should have focused on—the refund or the coin. However, now that PayPal has made Moonie whole, the point is moot. For what it’s worth, I’m happy that Moonie got his refund. He’s a good person, and I like him a lot. To be clear, in my opinion, Moonie did the right thing by stating his case publicly, and I applaud him for it. (I still love you, Moonie.)

I still have so many fond memories of our collaborations and a fondness toward your creations!

Firstly, I am not surprised if the PayPal agent misspoke regarding the refunds being stopped. What I posted was a direct quote from them hence the quotation marks. It definitely makes just as much sense that they meant it was the bank rejecting it due to insufficient funds. The former would almost show some sort of malicious intent whereas the latter is a straight-forward financial matter, so I think it's an important fact to clarify.

Secondly, I think the timeline provided is also important for folks to look at because as shown, one can certainly see my proactiveness/impatience. Part of this was due to the intent as a birthday gift since I initially thought it would ship in 2-3 weeks and family member funds were involved. The other part was due to the expiration of PayPal Buyer Protection. This formal dispute process served a critical role to enforce hard cut-offs given the multiple deadline slips, but it also added complexity and a bit of confusion as to the timings and which direction a remedy would be provided (coin being shipped vs. monetary refund). Not ideal, but again this was due to the expiration of the PayPal Buyer Protection at 180-day mark (December 20th). I appreciate your understanding and communication throughout the process. You never made me feel bad for creating the dispute or asking for refund (or even being willing to switch it up back to a coin if that was faster), and this understanding and level of communication is also demonstrated publicly with what you just said here.

Honestly, I wouldn't rule out still wanting to get a 1 oz gold escrowed through Minerjones! But that said, it is a huge relief to finally get closure and it's always stressful to have a pending item in transit, let alone one that is high-value! Probably best that some other lucky individual gets that coin. For any buyer of ANY collectible (not just BP Co.), my recommendation is to ALWAYS use an escrow such as minerjones, unless purchasing with PayPal w/ Buyer Protection.

Thank you for your response, I know it was much anticipated. Cheers to a better 2024, I am wishing the best of things for the BP Co., a pillar of this community.
legendary
Activity: 2676
Merit: 2203
BitcoinPenny.com
Hello, everyone.

Normally, I choose to stay far away from rumors and blind insinuations, but it now seems that it may be best to address some of the new accusations that are being thrown around about me and the company.

First, we are only behind on six (6) Spanish Treasures orders. That’s all. Six. (Full disclosure, there was a seventh, but that customer still owes $1,000 on their Spanish Treasures order, so we’re negotiating on the balance to get them sorted, and they should be straight by the weekend.)

Second, yes, we had a rough 2023. It was bad, but we’re almost through it all. (As I said, only a few more orders left to go out until we’re all caught up and in the black again.) Having a bad year is nothing to be ashamed of, and I’ve publicly stated that 2023 was rough on the business. That’s no secret. But having a bad year and being behind on orders does not make someone a bad person. A good person can go through a hard time. And as long as that person is striving at their best to make everything good and all customers whole, then they’re doing the right thing in my book. And that’s exactly what I’m doing.

Third, most of the people spreading rumors and accusations had never ordered a single Spanish Treasure and were never owed anything, so I can only guess as to their intentions and motivations for spreading falsehoods about me. (My favorite rumor is that my vehicle is leased. What an obscure lie to tell. It’s so weird. Maybe that’s why I like that one best. Gold star for creativity, rumor-spreader!)

Fourth, I’m truly sorry about Moonie’s struggles with us and PayPal. However, the idea that we actively stopped payment on any refund is simply untrue. The truth is that when PayPal charged that business account for the refund funds, the account didn’t have the full amount, so the bank didn’t approve the withdrawal due to insufficient funds. And after that unsuccessful attempt, Moonie told me that he’d still like the gold coin if I could make it for him, so I told him that I would try to get him that gold coin by year’s end. I mentioned that PayPal might still try to attempt another withdrawal. He assured me that if the withdrawal was attempted and received, then he would simply return the funds directly back to me, provided that I send him the gold coin. So I was working on getting him that gold coin made when PayPal tried the withdrawal again. At this point, I’m confused as to which I should have focused on—the refund or the coin. However, now that PayPal has made Moonie whole, the point is moot. For what it’s worth, I’m happy that Moonie got his refund. He’s a good person, and I like him a lot. To be clear, in my opinion, Moonie did the right thing by stating his case publicly, and I applaud him for it. (I still love you, Moonie.)

Fifth, it’s true that I took a personal loan of 1.0 BTC a few years ago. That member agreed to receive free products from every release as a sort of “interest paid” on the loan as long as the loan was outstanding. In retrospect, I should have focused on paying the loan off sooner. However, that person never once inquired about when I might pay it back, and of course, he was always happy to receive his many free products. However, again, it was my mistake to let that loan go so long, and I fully intend to have that repaid by summer 2024. In fact, I’ll be reaching out privately to that person tomorrow to make the arrangements.

Lastly, I want to readdress the first thing above. There are now only six (6) Spanish Treasures orders still outstanding. That is all. Of course, any outstanding order is bad for business, but it’s a far, far cry from the absurd rumors of Ponzi schemes and skipping town to the Maldives Islands or to wherever one flees with absconded millions.

The Bitcoin Penny Company has been serving the crypto-community for 10 years, and once we move past these last few orders, we plan to unreservedly serve the community for 10 more years and beyond.

In the meantime, if any of those six customers have any more questions or concerns about their orders, they may feel free to reach out to me anytime. I’m not hiding.

Thank you for taking the time to read this post, everyone. And have a great new year. Smiley

Regards,
Chris@TBPCo.
legendary
Activity: 1456
Merit: 1242
So sad. I waited one time for a year to get my order completed. Eventually i swapped my order for another product. So if he owes you something he does not have maybe see if you can receive another product he does have. I know thats not an optimum solution but might give some closure. I feel sorry for the person with the 1 bitcoin loan. Thats a really cool person who tried to help a cool company. Hopefully Chris can pull it together and make it right. I dont think he set out to scam anyone. I think he just made bad financial decisions, not making excuses for him. I hope he responds here to discuss his plan for repayment. I think he could still fix this but it all depends how he responds

No sir... good of you to think the best, but unfortunately Mr PayPal Penny has been FTXing.  Living on customer funds.  All you need to do is see how the products came out slower and slower and slower still... although sales and preorders kept on rolling.  Eventually people stop loaning money... sales slow down and the ponzi collapses.  I hope he doesn't come and try to explain.... as every time he has lied again and again.  "Nothing to see here.... just a rough year.... too much on my plate.... blah blah blah.... then ends with a shill on some upcoming project" just hoping someone will quietly inquire and preorder.
Face it... he scammed.  No way he's coming back from this.... the 1 BTC loan needs to be paid in BTC as that was the conditions of the loan.  They have ZERO interest in fiat.  Plus all the gold silver and copper that's owed but he doesn't have....  It's over!
copper member
Activity: 1075
Merit: 442
So sad. I waited one time for a year to get my order completed. Eventually i swapped my order for another product. So if he owes you something he does not have maybe see if you can receive another product he does have. I know thats not an optimum solution but might give some closure. I feel sorry for the person with the 1 bitcoin loan. Thats a really cool person who tried to help a cool company. Hopefully Chris can pull it together and make it right. I dont think he set out to scam anyone. I think he just made bad financial decisions, not making excuses for him. I hope he responds here to discuss his plan for repayment. I think he could still fix this but it all depends how he responds
BG4
legendary
Activity: 1006
Merit: 1024
PaperSafe
The Blood Oath Curse....... ?! Wow
hero member
Activity: 1035
Merit: 659
friendsofsatoshi.com
Wrote a general timeline of events for my case here: https://bitcointalksearch.org/topic/m.63442438

Happy to answer any questions, tried to keep it as simple/short as possible. It’s been an ordeal, to say the least, and I’m lucky to be able to put it behind me now that PayPal took the loss and made me whole.
hero member
Activity: 1344
Merit: 583
Wow, this is a very sad thing to see indeed another crypto collectible maker flipping the coin in the wrong direction!!! I'm glad I never ended up ordering any of his treasure pieces - if you read the thread somewhere in there he basically cursed himself and that treasure so you shouldn't want it in the first place lmao. Go look it up. Kind of funny, even though he is probably joking but honestly words are spells thats why its called spelling and the tounge is both life and death so watch what you say and do! I for one would not like to have this kind of karma on myself but hey BP wants it he can get it, I just hope to turns around and makes it right I think he still has some time to make amends.....
hero member
Activity: 551
Merit: 789
legendary
Activity: 3570
Merit: 1959
Wow.. I can't resist, cuz this was the last thing I expected this week...



I hope everyone is able to recoup funds, and now glad I did not go for any. Tongue
hero member
Activity: 2548
Merit: 607
Thanks for posting this Chi

After seeing others come forth about their missing coins/monies, I am doubtful that person will ever see their 1 BTC Sad

All I know is that there were indicators starting to form as early as 2019 and only expanded from there

One big thing that stood out was the lack of a 2023 copper coin offering which was the base of the sales/company

What were some of the indicators that were starting to form as early as 2019?

Borrowing 1 BTC from another collector.. and then BTC tanked leaving them with much less fiat purchasing power, thus starting the spiral of fund mismanagement

I see, gotcha, Thx!
legendary
Activity: 3206
Merit: 3596
Thanks for posting this Chi

After seeing others come forth about their missing coins/monies, I am doubtful that person will ever see their 1 BTC Sad

All I know is that there were indicators starting to form as early as 2019 and only expanded from there

One big thing that stood out was the lack of a 2023 copper coin offering which was the base of the sales/company

What were some of the indicators that were starting to form as early as 2019?

Borrowing 1 BTC from another collector.. and then BTC tanked leaving them with much less fiat purchasing power, thus starting the spiral of fund mismanagement
hero member
Activity: 2548
Merit: 607
Thanks for posting this Chi

After seeing others come forth about their missing coins/monies, I am doubtful that person will ever see their 1 BTC Sad

All I know is that there were indicators starting to form as early as 2019 and only expanded from there

One big thing that stood out was the lack of a 2023 copper coin offering which was the base of the sales/company

What were some of the indicators that were starting to form as early as 2019?
legendary
Activity: 2086
Merit: 1321
Bitcoin needs you!
Sad feckin news again in the collectibles world.
Neg trust etc left  Sad
legendary
Activity: 3206
Merit: 3596
Thanks for posting this Chi

After seeing others come forth about their missing coins/monies, I am doubtful that person will ever see their 1 BTC Sad

All I know is that there were indicators starting to form as early as 2019 and only expanded from there

One big thing that stood out was the lack of a 2023 copper coin offering which was the base of the sales/company
legendary
Activity: 2520
Merit: 3238
The Stone the masons rejected was the cornerstone.
This is what should be done when people, no matter how long they have been around or how "trusted" they are, don't deliver their products. People should not loan bits privately to keep companies afloat. They should not stay quiet. All this does is help the scammers continue their scam. Hopefully this is all resolved in a positive manner and FFS people, lets not do presales. Only sell product that you have in hand - its not difficult. If you can't finance 10 ozts of gold, maybe start smaller with 1/10s. I've had nothing  but positive interactions with Chris @ BTCpenny. But I also stopped buying them 6 months ago.



   Right on the money with this....If people do not speak up then the issue will manifest on others down the line.  No matter who and how long a person has been here, anyone can fall under troubled times... the sooner the issue is stopped, the less likely for others to lose their BTC.
legendary
Activity: 2254
Merit: 2419
EIN: 82-3893490
my issues were:

waited months for the copper and gold pirate treasure coins - received the refund for the gold early November 2023 and received the copper coins mid December 2023.

waited months for the 10th anniversary 1kg .999 FS kilo coin - received refund November 2023

still waiting for the 1 oz Silver Dollar coin - told would be issued near end of Q1 2024.

After seeing and hearing of so many issues with others - I count myself lucky to be out only one coin so far.

But truth be told, I would rather have received the coins I paid for vs getting the refunds.
full member
Activity: 868
Merit: 178
Satoshi loves sleazy bitcoin too - Ordinals
This is what should be done when people, no matter how long they have been around or how "trusted" they are, don't deliver their products. People should not loan bits privately to keep companies afloat. They should not stay quiet. All this does is help the scammers continue their scam. Hopefully this is all resolved in a positive manner and FFS people, lets not do presales. Only sell product that you have in hand - its not difficult. If you can't finance 10 ozts of gold, maybe start smaller with 1/10s. I've had nothing  but positive interactions with Chris @ BTCpenny. But I also stopped buying them 6 months ago.

legendary
Activity: 2282
Merit: 3014
It really pains me to have to write this one.  I felt (as others) that it has become time to share issues people/customers are having with Bitcoin Penny https://bitcoinpenny.com/ .  

There are a multitude of people whom are waiting on both refunds from cancelled orders as well as pre-sale orders that were placed quite some time ago.  I also know of one prominent forum member who's owed 1 BTC from BPenny/Chris as well and has for some time.  

ToTheMoonSands has had a multitude of issues in regards to BPenny and receiving funds back as part of a PayPal buyer protection/failed to deliver case, where PayPal has tried a multitude of times to recover funds for TotheMooonSands.  Seller (Chris/BPenny)both  didn't have available funds in the account as well as apparently proactively blocked payment twice from being paid out when PayPal ruled in his favor for the open case.

As of 11/25/23, I am owed a refund of $2610.00 from The Bitcoin Penny Company. Refund via PayPal failed/was cancelled. Please follow more information here: https://bitcointalksearch.org/topic/m.63217329

Bitcoin Penny has somewhat addressed these issues, but it seems he no longer is, as well as there just being so many different issues with Bitcoin Penny now that I felt it important that people are aware of this, especially for new buyers as his sales are clearly still live.  Plus a thread will be easy to find by a google search for non-forum members who may also be dealing with these same issues.  Also, there's several threads going around about this topic, so it is of course better to comb it down to just one.

Threads where this has been discussed :
https://bitcointalk.org/index.php?topic=5461962.20
https://bitcointalk.org/index.php?topic=5461962.20

I encourage anyone effected by this situation to share any info you can. I will continue to update this as well with more precise information about individual cases.

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