[WARNING] BitPay pocketing over $1000 from me. - page 2.

iASIC

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Quote from: dave111223 on November 19, 2013, 09:34:58 PM

If bitcoin took a nosedive and your 4BTC were only worth $200, would you still be willing to take a 4BTC refund?

Probably not; so you can't have it both ways.

I mean if I paid in bitcoin I'd rather get my bitcoin refunded

dave111223

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If bitcoin took a nosedive and your 4BTC were only worth $200, would you still be willing to take a 4BTC refund?

Probably not; so you can't have it both ways.

devthedev

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I personally have never had a bad experience with BitPay...

The CEO was just at the senate hearing as well. Wink

iASIC

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Quote from: fcmatt on November 19, 2013, 04:07:07 PM

Quote from: iASIC on November 18, 2013, 04:35:29 PM

I purchased around $80 face value junk silver from Amagi Metals for around 4.3 BTC(Was 1,400 at the time) and I only got $10 worth in the mail.
Amagi Metals has agreed to refund me remaining silver that has not been shipped.
I talked with an Amagi representative, and she said that they only can refund $1100 worth in USD due to Bitpay paying them in cash instead of bitcoin.
I think it's insane that BitPay cannot repay my whole 4 BTC back, after all they are damn revolved around bitcoin.
I feel jipped that BitPay stole over $1000 from me.
I've emailed them and will re post a response.

EDIT:

Got a reply from an email(Strange how I got this reply but not the initial refund yet)

Each merchant is allowed to make decisions regarding how to provide refunds for their customer; we don't have any bearing on Amagi's choice of refund. Is there anything else I can help you with at the moment?

Thanks,

Gentry Sherrill
Client Operations Manager

EDIT2: I got a partial refund: https://blockchain.info/address/1QeUgWPdAPGygNnCT8x5TWWGPmC8fnkou

Still need 2.3 BTC for it to be a full refund.

Still wondering why I got a refund when they are "closed" AND they aren't replying to me.

why does not amagi metals ship you the metal you are owed? Seems simple no?

or are you trying to get bitcoin back since it has gone up in price?

At this point, since bitcoin is so volatile at the moment, I'd rather just have my 4 BTC back in my possession until I feel comfortable buying silver again

fcmatt

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Quote from: iASIC on November 18, 2013, 04:35:29 PM

I purchased around $80 face value junk silver from Amagi Metals for around 4.3 BTC(Was 1,400 at the time) and I only got $10 worth in the mail.
Amagi Metals has agreed to refund me remaining silver that has not been shipped.
I talked with an Amagi representative, and she said that they only can refund $1100 worth in USD due to Bitpay paying them in cash instead of bitcoin.
I think it's insane that BitPay cannot repay my whole 4 BTC back, after all they are damn revolved around bitcoin.
I feel jipped that BitPay stole over $1000 from me.
I've emailed them and will re post a response.

EDIT:

Got a reply from an email(Strange how I got this reply but not the initial refund yet)

Each merchant is allowed to make decisions regarding how to provide refunds for their customer; we don't have any bearing on Amagi's choice of refund. Is there anything else I can help you with at the moment?

Thanks,

Gentry Sherrill
Client Operations Manager

EDIT2: I got a partial refund: https://blockchain.info/address/1QeUgWPdAPGygNnCT8x5TWWGPmC8fnkou

Still need 2.3 BTC for it to be a full refund.

Still wondering why I got a refund when they are "closed" AND they aren't replying to me.

why does not amagi metals ship you the metal you are owed? Seems simple no?

or are you trying to get bitcoin back since it has gone up in price?

iASIC

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Be careful with this company guys.

iASIC

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Quote from: SaltySpitoon on November 18, 2013, 11:36:33 PM

Bitpay sells the BTC they receive, and gives the merchant the exact amount of cash owed for the Bitcoins at the exact time of sale. Then Bitpay sells those BTC, and repeats. While I do think you got the blunt end of the stick, the second you sent your Bitcoins to Bitpay as the intermediate for Amagi, the deal was settled in USD, not BTC. They essentially buy your Bitcoins, and convert it to cash for merchants at the current exchange rates. It works the same for everyone, so don't take it personally. If Amagi took Bitcoins directly, you would be entitled to a refund in BTC. But all they get is the current USD rate which is all they can refund you.

I traced back the coins, and it looks like a huge amount of order coins is sitting on one address.

I know they deal in USD, but BitPay provides like...

Bitcoin for consumer
USD for seller

They should refund in BTC since it is what the consumer pays in.

I'm trying to still get a hold of BitPay, and they should be open right now.

SaltySpitoon

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Welcome to the SaltySpitoon, how Tough are ya?

Bitpay sells the BTC they receive, and gives the merchant the exact amount of cash owed for the Bitcoins at the exact time of sale. Then Bitpay sells those BTC, and repeats. While I do think you got the blunt end of the stick, the second you sent your Bitcoins to Bitpay as the intermediate for Amagi, the deal was settled in USD, not BTC. They essentially buy your Bitcoins, and convert it to cash for merchants at the current exchange rates. It works the same for everyone, so don't take it personally. If Amagi took Bitcoins directly, you would be entitled to a refund in BTC. But all they get is the current USD rate which is all they can refund you.

iASIC

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Quote from: AndrewWilliams on November 18, 2013, 09:35:23 PM

That's sad. Especially considering they are supposed to be the largest service of their kind. Ick!

Got a 1.6 BTC refund, still waiting on the rest.

AndrewWilliams

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That's sad. Especially considering they are supposed to be the largest service of their kind. Ick!

iASIC

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Quote from: Bitcoin Scammer on November 18, 2013, 07:38:30 PM

I have seen this before the last time BITcoin shot up in price everyone wanted a slice of the pie. Sorry for the loss

Trust me I'll do my best to make this not a loss.

People on Reddit were telling me BitPay converts the BTC to cash for the vendors, but that doesn't mean they still have all the BTC(They do)

Bitcoin Scammer

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I have seen this before the last time BITcoin shot up in price everyone wanted a slice of the pie. Sorry for the loss

iASIC

member

Activity: 308

Merit: 10

AMA BCT

I purchased around $80 face value junk silver from Amagi Metals for around 4.3 BTC(Was 1,400 at the time) and I only got $10 worth in the mail.
Amagi Metals has agreed to refund me remaining silver that has not been shipped.
I talked with an Amagi representative, and she said that they only can refund $1100 worth in USD due to Bitpay paying them in cash instead of bitcoin.
I think it's insane that BitPay cannot repay my whole 4 BTC back, after all they are damn revolved around bitcoin.
I feel jipped that BitPay stole over $1000 from me.
I've emailed them and will re post a response.

EDIT:

Got a reply from an email(Strange how I got this reply but not the initial refund yet)

Each merchant is allowed to make decisions regarding how to provide refunds for their customer; we don't have any bearing on Amagi's choice of refund. Is there anything else I can help you with at the moment?

Thanks,

Gentry Sherrill
Client Operations Manager

EDIT2: I got a partial refund: https://blockchain.info/address/1QeUgWPdAPGygNnCT8x5TWWGPmC8fnkou

Still need 2.3 BTC for it to be a full refund.

Still wondering why I got a refund when they are "closed" AND they aren't replying to me.

Topic: [WARNING] BitPay pocketing over $1000 from me. - page 2. (Read 3075 times)