Very slow coinabul finally refunded me. - page 2.

firefop

sr. member

Activity: 420

Merit: 250

Quote from: Thralen on April 29, 2013, 07:07:02 PM

You haven't been scammed, you've simply been stupid. Are you aware of how most merchants accept BTC? They never touch the BTC itself, it is immediately sold and they receive USD or Euros or whatever. Therefore they don't have the BTC immediately on hand to refund.

Coinabul has done good business with me, slow but reliable. I don't know who has been complaining lately, but most of them are of a similar nature. It sounds more like you are trying to scam them than them trying to scam you. Here is what I hear from your complaint:

"I changed my mind and Coinabul refuses to lose money refunding me in BTC so they are scamming me."

I can tell you didn't read their schedule on their website as to how their process works.

I can tell you're new to this board, but I wonder if your account is a sock puppet for one of the other people that tried to slander Coinabul.

In my opinion, they offered to work with you on a fair deal and you decided to try to gouge them for more BTC.

Thralen

I agreed with the quoted post. My experience has been the same with coinabul. The fault here is with the buying 'changing his mind' - coinabul is being very gracious even offering the OP the buyback option, if I had been the seller I would have shipped the gold and simply told the buying 'I'm sorry, it's already been shipped'

Thralen

full member

Activity: 123

Merit: 100

You haven't been scammed, you've simply been stupid. Are you aware of how most merchants accept BTC? They never touch the BTC itself, it is immediately sold and they receive USD or Euros or whatever. Therefore they don't have the BTC immediately on hand to refund.

Coinabul has done good business with me, slow but reliable. I don't know who has been complaining lately, but most of them are of a similar nature. It sounds more like you are trying to scam them than them trying to scam you. Here is what I hear from your complaint:

"I changed my mind and Coinabul refuses to lose money refunding me in BTC so they are scamming me."

I can tell you didn't read their schedule on their website as to how their process works.

I can tell you're new to this board, but I wonder if your account is a sock puppet for one of the other people that tried to slander Coinabul.

In my opinion, they offered to work with you on a fair deal and you decided to try to gouge them for more BTC.

Thralen

bitcoincraps

member

Activity: 98

Merit: 10

In recent months we have heard many complaints regarding this service...

mgio

hero member

Activity: 546

Merit: 500

Why did you cancel your order?

I've ordered from coinabul and only had pleasant experiences with them. They are slow, but they will get you your gold.

freshjulian

newbie

Activity: 10

Merit: 0

I think that is the problem with bitcoins Sad

Where you have anonymous payment there will be scammers Sad

philly_cop_41320

newbie

Activity: 5

Merit: 0

Quote from: C4th on April 26, 2013, 06:57:23 AM

this thread is kind of an example why btc is not great as currency

c4th you don't know what you're talking about, get back to us when you graduate high school and learn a thing or two about real economics.

Turks

newbie

Activity: 36

Merit: 0

Quote from: ?? on ??

Today I got this message from [email protected]:

Quote

I understand your frustration, but since I'd have to issue your refund at current market rates I figured an equivalent value of gold would be more ideal. Since you currently own metal as opposed to BTC, I would have to purchase your metal value back from you at the current market rate and send this value to you, as well as the cost of shipping that you paid, via purchasing BTC at current market rates. Let me know which is preferred.

Quite sucks, sorry to hear that Sad

wtzr

member

Activity: 96

Merit: 10

hmm , just wanted to buy something there...

drakahn

hero member

Activity: 504

Merit: 500

Quote from: C4th on April 26, 2013, 06:57:23 AM

this thread is kind of an example why btc is not great as currency

what? lol

C4th

newbie

Activity: 8

Merit: 0

this thread is kind of an example why btc is not great as currency

elebit

sr. member

Activity: 441

Merit: 250

Quote from: ?? on ??

They want to buy my metal back at current market rates, which means that I lost arond BTC1.2...

Oh noes!! They offer to buy back at MARKET RATE! That is clearly the mark of a scammer!

It's nice of them to let you change your mind, but you also want them to buy back over market rate? Please.

drakahn

hero member

Activity: 504

Merit: 500

Always do your research first
Your poor research into what you were getting into is not grounds for calling anyone a scammer

elebit

sr. member

Activity: 441

Merit: 250

Quote from: Virtuall on April 18, 2013, 03:30:20 PM

Then I changed my mind and claimed a refund.

You changed your mind. How is that grounds for labeling someone a scammer?

The way I read it, they are way too kind even offering to buy your metals back. The reason bitcoins are cheaper for merchants is because transactions are final.

Volatility would make refunds especially tricky. You could just order and then change your mind every time bitcoins got more valuable, and let the transaction proceed every time bitcoins got less valuable. That way the merchant would only be on the losing side of the forex risk every time, and it would be a sure way to scam them of their money.

TheSwede75

full member

Activity: 224

Merit: 100

It seems a lot of the 'We accept bitcoins' sites that deal in precious metals etc have a bad habit of 'holding BTC hostage' when value increases or decreases quickly. I guess it's a form of 'douchebag arbitrage' where they hope to make money on the diff if you want refund etc.

I would vet seller VERY carefully before shopping with BTC, especially in valuable goods.

slacker

newbie

Activity: 43

Merit: 0

Quote from: ?? on ??

Of course! I answered their message in three hours and I choosed bitcoins - what I didn't received yet.

Maybe the owner of this website is very busy (many Bitcoin based businesses don't have employees beside the owner).

slacker

newbie

Activity: 43

Merit: 0

Quote from: ?? on ??

Today I got this message from [email protected]:

Quote

I understand your frustration, but since I'd have to issue your refund at current market rates I figured an equivalent value of gold would be more ideal. Since you currently own metal as opposed to BTC, I would have to purchase your metal value back from you at the current market rate and send this value to you, as well as the cost of shipping that you paid, via purchasing BTC at current market rates. Let me know which is preferred.

I think that this is fair (except that long response period - the reputable merchant should give you answer within 24 hours).

Quote from: ?? on ??

Still nothing... Angry

Did you answered to the message from coinabul? And what you choose - gold or bitcoins?

If this is a small business (one man show) it is normal to wait for several days for response. Especially if this merchant is very popular and have many customers.

abigfish

newbie

Activity: 52

Merit: 0

IMO this is a HUGE BITCOIN risk ... really well established sellers abuse the fact that Bitcoin is anonymous and hard to track/regain back ...and after a time of legit biz they seem to turn darkside and boom ...take all of a sudden 20-30 big orders and than poof vanish into thin air....

most likely they will also open up a new exact same biz and repeat this again after being established....
same happens with some sellers on silk etc etc..

huge bitcoin issue... its protection and anonymity motivates some established sellers to close shop with a big scam after a while Sad

...

johnniewalker

legendary

Activity: 896

Merit: 1000

Everyone...I doubt OP would be calling Coinabul scammers after 3 days if it was the first incident of them acting shady. If you ask me, not hearing anything for 3 days alone would be a red flag. All the stuff I've read about them on here makes that x 10. And Coinabul was one of the foremost companies accepting bitcoins before they turned scammers, so I have pity on you OP. I hope you get it figured out. Nearly ALL my dealings in precious metals w/bitcoins I do with amagimetals.com. Yet to be disappointed.

abigfish

newbie

Activity: 52

Merit: 0

I cant see how you decided to spend 3.3 btc without checking for references first...anyways please be more careful. I am sorry to hear this happened to you ...

Coinabul seems to have been scammed a lot of people from what i read all around.
I have no personal insight on this matter except for what I've read...and imo he was once an honest and big trader and than boof ...decided to scam close his shop by taking lots of orders and not honoring none...unless im mistaking

JaneY

newbie

Activity: 10

Merit: 0

Bitcoins are designed so people can't do chargebacks. It's in the vendors favor, so you must be sure before you order. You can't really just change your mind and request a refund.
Some vendors have kind of taken advantage of refunds when it comes to bitcoins, if the value of bitcoins has gone down they will refund the bitcoins paid, if the value of of bitcoins has gone up they will refund
the usd amount paid in bitcoins. They means when it comes to refunds, heads vendor wins, tails vendor wins. But as mentioned if their explanation is correct then they are just protecting themselves.

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