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It appears as though the BitcoinDark wallet automatically disables the staking feature if the user encrypts the wallet; therefore, any BTCD holder who encrypt their BitcoinDark wallet will not be able to stake and as a result, will not receive 5% interest on the BTCDs in their wallet. If this is correct, then those who are security minded and choose to enable encryption on their BitcoinDark wallet are being penalized for trying to protect their BTCDs in the most basic way and usually recommended by crypto-currencies security professionals.
Is there a current plan for a work around this staking problem?
Thank you.
you can stake with encrypted wallet just unlock wallet and make sure the "for staking only" is selected Hi jl777, Thank you for your prompt reply. I did what you suggested and the BTCDs in my wallet in currently staking. Cheers! |
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Dividends in BTC for BTCD Holders
BitcoinDark will be the first cryptocurrency to pay regular dividends in a form other than itself, in a game-changing new development that will shift the way investors view different currencies.
A percentage of revenues generated from InstantDEX and Teleport fees will be paid to BTCD holders. Payments can be made in any currency or asset, to the associated address in the BTCD wallet’s built-in asset exchange.
BitcoinDark is the only cryptocurrency that will reward holders with income denominated in Bitcoin.
**Proof of Stake Reward**: 5% per year
**Minimum Coin Stake Age**: 8 hours
It appears as though the BitcoinDark wallet automatically disables the staking feature if the user encrypts the wallet; therefore, any BTCD holder who encrypt their BitcoinDark wallet will not be able to stake and as a result, will not receive 5% interest on the BTCDs in their wallet. If this is correct, then those who are security minded and choose to enable encryption on their BitcoinDark wallet are being penalized for trying to protect their BTCDs in the most basic way and usually recommended by crypto-currencies security professionals. Is there a current plan for a work around this staking problem? Thank you. |
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have you contacted bitpay (assuming you paid thru them) elyse giles is a very helpful person who has got me a promise of a bank transfer today - i am still waiting for it but i have received 3-4 emails from cointerra indicating it is literally 'being processed now' i decided to wait before posting this and in the meantime it was refunded. the cash is now in my account. the person who contacted me advised using this email. jc@cointerra.comGood Luck All, and get in touch with BitPay if you can - i cant express my appreciation for their input. Ed. seems i lost 100GBP in the exchange but i can live with that..... just. Hello Ed, Congrats on your successful CoinTerra refund! From reading your methodical approach with respect to your refund request, I had a strong feeling that you would receive your refund faster than those who simply used the ranting and raving approach.  Cheers! |
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May 21st, 2014 Dear Ed, We are getting in touch with you because you have previously requested a refund of your CoinTerra hardware order. At the time of your refund request, it was likely communicated to you that we typically take between 2-4 weeks to process refunds. Unfortunately, we received a larger quantity of refund requests around the time that we started to ship our April batch of TerraMiners to customers, and as a result we are running behind on processing them, as they are refunded in the order in which the refund request is received. Your refund request is still active, and we are currently anticipating between 8 and 12 weeks processing time for some refunds. We will continue to work towards processing the refunds as quickly as possible. However, we would also like to share with you two incredible limited-time offers that, should you choose, will quickly get you back on track with your bitcoin mining activities: Option 1 Some customers requested their refund because of the hash power deficit of 400 GH/s in the 1.6 TH/s units. With manufacturing running at full capacity we are now able to ship the 1.6 TH/s TerraMiners immediately from stock, and so for a limited time, if you are a US resident customer* who purchased at the original price of $5,999 (plus shipping) we can ship you 2 x your original order of TerraMiner IV 1.6 TH/s Bitcoin miners with FREE ground shipping on the additional unit(s). That’s 3.2 TH/s for the same price paid for 2 TH/s! An order for 1 x TerraMiner IV at $5,999 entitles you to receive a second TerraMiner IV with FREE UPS Ground shipping. An order of 2 x TerraMiner IV’s with total price of $11,998 + shipping entitles you to receive 4 x TerraMiner IV 1.6 TH/s shipped immediately with FREE UPS Ground shipping for the additional 2 units. Option 2 Some customers requested a refund because for whatever reason they were unable to run the TerraMiners in their location. We have been working on a solution to this problem and you may have read the announcement on May 12th that we have now launched a new service offering cloud-based Bitcoin Mining Contracts through CoinTerra Mining at: http://mining.cointerra.comA cloud-based mining contract is a solution where you receive regular payouts at the contracted hash power for a fixed term, powered by our scalable TerraMiner farm in a 24 x 7 datacenter: No equipment, no electricity costs, and no hands-on system management required. For a limited time we are offering the equivalent of your purchase price of each TerraMiner converted to the 2 TH/s mining contract which is currently priced at $7,999 - a savings of $2,000! If you have 2 x TerraMiner IV’s then you will get 2 x 2 TH/s plans, etc. To discuss your order, please reply to this email with your preferred phone number and time of day to reach you (please include your time zone) and we will get in touch. If you are only able to communicate via email (for example, if you are not comfortable speaking in English) then please reply to this email and we will get back in touch. In the event that you these offers do not interest you, we completely understand and we will keep you on the refund list and we thank you for your ongoing patience and understanding as we work to stay ahead in the incredibly fast-moving Bitcoin ecosystem. Please do not hesitate to reach out to us if you have any questions. Team CoinTerra customeroffers@cointerra.comDear Edger, It does not matter what options CoinTerra offers you because you have legal rights under US Federal Consumer Protection Laws. The emailed reply from CoinTerra offering their limited options is a ploy (a ruse) to waive your legal rights. If you accept their offered options, you are waiving your legal rights. If do not immediately voice your objection to their offered options, your silence may constitute by default as waiving your legal rights to a refund to be paid in "a timely manner" (i.e., within 7 working days). Please do not trust my layman advice above, but rather contact an inexpensive general business attorney via Craigslist located in Texas. These attorneys are a dime a dozen and after the free 20 minutes over the phone free consultation, they shouldn't charge you more than $100 to $200/hr to help in sending a legal letter to any company in which you are requesting an immediate refund. The legal letter shouldn't cost you more than a few hundred dollar max. thanks. i immediately upon reciept of the 'offer' replied with a non acceptance and 7 days to complete the refund 'demand' but i am not a US citizen and this may work against me. however once i get my teeth stuck in i rarely let go. right now im stockpiling information and details. i have contacted bitpay who have been as helpful as they can and we are now waiting to hear what cointerra will respond with. Ravi - its just you and BFL now, KnC have righted their wrongs. it doesn't need to get messy. Be A Man Excellent! I'm glad to read that you immediately voiced your objection to their offer with an email reply. Do you have any family or friends located in the United States? If you do have a family member or friend, than I suggest that you ask them to help you send a hardcopy refund request/demand. Email them the softcopy letter and ask them to print it out and then have them go to a US Postal Office and send the hardcopy letter to Ravi via Certified Mail. |
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May 21st, 2014 Dear Ed, We are getting in touch with you because you have previously requested a refund of your CoinTerra hardware order. At the time of your refund request, it was likely communicated to you that we typically take between 2-4 weeks to process refunds. Unfortunately, we received a larger quantity of refund requests around the time that we started to ship our April batch of TerraMiners to customers, and as a result we are running behind on processing them, as they are refunded in the order in which the refund request is received. Your refund request is still active, and we are currently anticipating between 8 and 12 weeks processing time for some refunds. We will continue to work towards processing the refunds as quickly as possible. However, we would also like to share with you two incredible limited-time offers that, should you choose, will quickly get you back on track with your bitcoin mining activities: Option 1 Some customers requested their refund because of the hash power deficit of 400 GH/s in the 1.6 TH/s units. With manufacturing running at full capacity we are now able to ship the 1.6 TH/s TerraMiners immediately from stock, and so for a limited time, if you are a US resident customer* who purchased at the original price of $5,999 (plus shipping) we can ship you 2 x your original order of TerraMiner IV 1.6 TH/s Bitcoin miners with FREE ground shipping on the additional unit(s). That’s 3.2 TH/s for the same price paid for 2 TH/s! An order for 1 x TerraMiner IV at $5,999 entitles you to receive a second TerraMiner IV with FREE UPS Ground shipping. An order of 2 x TerraMiner IV’s with total price of $11,998 + shipping entitles you to receive 4 x TerraMiner IV 1.6 TH/s shipped immediately with FREE UPS Ground shipping for the additional 2 units. Option 2 Some customers requested a refund because for whatever reason they were unable to run the TerraMiners in their location. We have been working on a solution to this problem and you may have read the announcement on May 12th that we have now launched a new service offering cloud-based Bitcoin Mining Contracts through CoinTerra Mining at: http://mining.cointerra.comA cloud-based mining contract is a solution where you receive regular payouts at the contracted hash power for a fixed term, powered by our scalable TerraMiner farm in a 24 x 7 datacenter: No equipment, no electricity costs, and no hands-on system management required. For a limited time we are offering the equivalent of your purchase price of each TerraMiner converted to the 2 TH/s mining contract which is currently priced at $7,999 - a savings of $2,000! If you have 2 x TerraMiner IV’s then you will get 2 x 2 TH/s plans, etc. To discuss your order, please reply to this email with your preferred phone number and time of day to reach you (please include your time zone) and we will get in touch. If you are only able to communicate via email (for example, if you are not comfortable speaking in English) then please reply to this email and we will get back in touch. In the event that you these offers do not interest you, we completely understand and we will keep you on the refund list and we thank you for your ongoing patience and understanding as we work to stay ahead in the incredibly fast-moving Bitcoin ecosystem. Please do not hesitate to reach out to us if you have any questions. Team CoinTerra customeroffers@cointerra.comDear Edger, It does not matter what options CoinTerra offers you because you have legal rights under US Federal Consumer Protection Laws. The emailed reply from CoinTerra offering their limited options is a ploy (a ruse) to waive your legal rights. If you accept their offered options, you are waiving your legal rights. If do not immediately voice your objection to their offered options, your silence may constitute by default as waiving your legal rights to a refund to be paid in "a timely manner" (i.e., within 7 working days). Please do not trust my layman advice above, but rather contact an inexpensive general business attorney via Craigslist located in Texas. These attorneys are a dime a dozen and after the free 20 minutes over the phone free consultation, they shouldn't charge you more than $100 to $200/hr to help in sending a legal letter to any company in which you are requesting an immediate refund. The legal letter shouldn't cost you more than a few hundred dollar max. |
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Basically what this thread tells me is that to get your refund you must kick and scream very loudly to get noticed and your refund processed. Anyone remaining silent and relying on Cointerra's "goodwill" is going to be burned as evidenced by the people who have been waiting much longer than you for a refund (and probably had their request in before yours). Also how many days past the 4 week window did it take for you to receive your money?
howthefuq et al, The 'kick and scream' method has been marginally effective for a small percentage of Cointerra customers; however, I would not recommend the use of that method. By the by, I'm not an attorney, but I played one in a college drama class. Therefore, the information provided does not constitute legal advice and moreover, I recommend that readers seek legal advice from an attorney, especially for those that are not knowledgeable in business/consumer protection laws, or no experience in the litigation process. First of all, this posted message is mainly for readers that fall into May and June batches who have received the email from CoinTerra Support with the subject, "TerraMiner Early Shipping Notification." If you have received that email, than you have received clear supporting evidence of Cointerra's breach of contract and may possibly support misrepresentation as well. Final specs of 1.6 GH/s hashing performance using 2100 watts power consumption versus advertised specs of 2.0 GH/S using 1600 watts are clear breach of contract. Furthermore, the change in product warranty from 3 months to only 1 month provide additional supporting evidence for breach of contract. The changes clearly relieves Cointerra from potentially significant liabilities/costs while the customers' liabilities/costs become increasingly onerous. No need to even expand on the things they did that may be considered misrepresentation. Any customers who encountered the above have the right to a full refund within a reasonable time with a caveat. A reasonable time means seven working days from the day that the customer makes a formal request to Cointerra for cancellation and refund of the customer's paid order. Secondly, customers may receive a reply email regarding their refund request in which the company stipulates that the refund process may take 4 weeks (this may also mean that the process can take 6, 7, 8, or possibly 20 weeks since there's no set maximum date to complete the refund payment) and it is absolutely critical to clearly convey in your formal refund request that anything over seven workings days is "unacceptable." Those in the past who did not immediately respond to their +4 weeks refund processing stipulation with your strong/clear objection may be giving up your right to a quick refund since your silence may constitute as your assent/acceptance to their lengthy refund process. Thirdly, U.S. Federal Consumer Laws trump all of the states' consumer laws. Check the FTC link listed below concerning refunds, "If the customer paid by cash, check, or money order, you must refund the correct amount by first class mail within seven working days after the order is cancelled." If your order has been fully paid, then you either paid by wire transfer which is the equivalent to cash, or you paid with bitcoins which means that you paid by check because you used Bitpay as a middleman to convert your BTCs to US dollars and then on your behalf, Bitpay sent Cointerra a check via electronic ACH. It would be helpful to include one or two paraphrase sentence(s) regarding the Federal Law that are apropos to your situation in addition to some verbiage about legal options/remedies through standard civil litigation if the refund is not sent in a reasonable time (i.e., 7 working days). FTC's site: http://www.business.ftc.gov/documents/bus02-business-guide-mail-and-telephone-order-merchandise-rule Lastly, you need to incorporate the above details into your formal cancellation and refund request (refund payment via wire transfer is highly recommended to avoid a bounced/non sufficient funds refund check). The cancellation and refund request must be a hardcopy written letter sent via US Postal Service Certified Mail and your emails to Cointerra simply supplements the mandatory Certified Mail hardcopy letters. If the above done correctly, your refund payment should be completed in under 7 working days, assuming that the company is still solvent of course. However, the more refunds they quickly process going forward, it increases the risk (e.g., the possibility of insolvency) for the remaining customers not yet paid as they continue to patiently wait for their refund. For non U.S. customers, I recommend that you search on Craigslist for an inexpensive low level general business attorney located in the Austin, TX, area in order to draft a strong request/demand letter for you. This shouldn't cost you more than a few hundred dollars. |
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Good luck and thank you.
Cheers!
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