Topic: Cast Your Vote for your favourite Physical Bitcoin Designs – Ends 18th November - page 3. (Read 21573 times)

Link to this thread please?

That is a very very bad sign. I will have to update my trust rating based on this new information. Man, it sucks to see a company go down like this.

Hi Mark,

Martin here. I assume this goes for me as well. I hate to call you out in public like this in these sad times, but since you have been ignoring my mails for many weeks now you leave me with no choice.

So please PM or mail me ASAP.

Thanks.

No it's not a good thing.  Although they may say they "intend" to use these sales of existing stock to fill other orders/repay prepaid orders, it doesn't look like they are being 100% open.  If they knew their main investor pulled out months ago and it truly put the companies future at stake, operations should have been halted immediately and people should have been notified that presales may not be able to be completed or hold all preorder btc in escrow.

It also seems like its now been a game to see how long this can go, I'm starting to think the excuses (CEO was "ill", computer data loss, etc) were just made up to buy them time.

I won't go so far as to call them a scam company, as their designs that were minted looked nice, but clearly the past few months have shown they cannot handle the operations of the business.

Yes, I checked i too.

Coinographic please change this on your website.

Their site is still operational for taking in funds for preorders for coins they will never have...not a good thing.

The public was led to believe that Coinographic had already put the bitcoin designs into production long ago (since early November I believe).

If they actually did put them into production why can't they still operate their business?

If they are having people prepay before the coins get made then they should still be able to take a cut (for profit) and send the rest to the mint to have the coins made.

Not sure where they "can't" continue operation.

This should be explained by them as it is now sounding more like a ponzi type situation where they took in customer orders and robbed peter to pay paul and now they are short on funds to fill existing orders and fund coins or pay design contest bounties.

Supposedly their investor pulled out. But if the investor did that in the end of november they should have already started the 2 BTC 2 oz gold coin production so the investor would not be able to pull out completely as they have funds tied up in the company.

The way this is all transpiring is starting create more questions than it answers.

Were you lying about this as well?

To be clear this was concerning a user who had posted and spoken to me about their coins not being delivered/funded.

I've always welcomed competition as it is healthy for the market. But when people do shady things I have no hesitation on calling it out.

I guess the next question is how honest were they up until now...



@Coinographic, were you lying when you posted this?

If they are supposed to be in production then they should be paid for right? Production should be paid for if they were expected to be done at end of Jan early Feb.

Reposting this from ltctalk.

A user had purchased coins, told they were funded, then now it appears they are not funded since Nov 2014.

https://litecointalk.org/index.php?topic=24490.0


Someone should make a thread on this forum and btctalk where people can compile a list of orders, unfunded coins, and unpaid bounties so that way everyone is on the same page.

So will they not be manafactured ?

@Coinographic I believe you should have an open dialogue with your customers. This posting once in 2-4 weeks is simply unacceptable. People have sent you money for products you do not have or have and have not shipped or have not funded. People deserve a chance to get answers directly from you publicly. This open dialogue should also consist of people suggesting what their compensation for waiting should be plus what they paid you which they are still owed.

To be clear you are saying that once the we form is up, 48 hrs from then all customer issues will be resolved.
?

Curious how you plan to repay people (including design contest winners) with your litecoin silver coins? The rate at which you value them may not appeal to your customers to be compensation. But I could be wrong.

If I was expecting a 2 oz gold coin loaded with 5 BTC I wouldn't settle for say several of your litecoin silver coins.

Perhaps people who are owed can chime in on this as the layout conversion rate of the debt owed to each customer vs what you will give them in terms of your silver coins is not known yet.

Thanks for posting this.

Nice to hear from you Coinographic, and I'm very sorry for all of your problems with this unpredictable business.

However, you are talking only about preorders, and no word about promised bounties?

I wanted to make a statement to update everyone on the situation with Coinographic…


Before going into an explanation I want to state clearly for the record that Coinographic was never set up as a scam.  We tried our best to start a company within the digital currency world because we believed in what we were doing and believed in Digital currency.  We worked hard to try and create a product that we believed would appeal to all.


An unfortunate chain of events has led us to a situation where we can no longer operate as a business.  Low volume sales, coupled with a large decline in the value of digital currency have left the business crippled.


Coinographic also lost its main investor at the end of November 2013.  We have tried hard to secure additional finance to keep the company alive but have failed in our attempts.


It is with great regret that I must announce we will be closing down the company.


We have no intention of leaving our customers that pre-ordered or have outstanding issues with orders out of pocket. 


Whilst we are unable to issue refunds in digital currency, we are able to issue refunds in stock from our Litecoin collection.


Over the coming days (4th February Latest) we will be implementing a form on our website that pre-ordering customers can fill out and choose the coins they would like to the value of their pre-order as a refund.


We will also have another form in place for anyone who has any missing orders, unfunded coins or any other issues.


We WILL deal with any order or issue filed with us via our web form within 48 hours.
 

It’s a very messy situation and we want to deal with things in the best way possible for all concerned.


I can’t apologise enough to everyone concerned and know first-hand what it feels like to invest hard earned digital currency in a product only for it never to appear. 


We will update this post as soon as the form is in place on our website


Thank you

Well, I PM-ed Coinographic about this couple of weeks ago.
Also said I, and I think other contestants also, would not mind being paid in Silver LTC coins.
No reaction...

I do not know.

The fair thing would be to pay you the bitcoin equivalent of what he owes you some way some how if they are not making the gold coin anymore.

That's perfect, this doesn't supposed to mean like he would not pay anything anymore?
Coinographic still has to give me 5BTC Coin + 5 BTC + 0.25BTC