I received my ACH transfer this morning (well, it's still being processed, but the bank finally sees it).  I appreciate that last week was rough, but I think it's fair for everyone to be made aware that BitcoinExchange.cc actually takes 7-10 days to send you your money rather than the 2-3 days advertised on the website.

Good luck to the rest of you Bitcoiners; I hope you can cash out before Congress makes it illegal.

Bruce

Finally received an update:


Hopefully this will be the case.  I sympathize with their troubles but didn't appreciate being told (twice!) it would be/was sent last week when it appears it was not.

Bruce

It's now Tuesday, the day they claimed the transfer would happen after they failed to deliver the funds last week as promised.  And still no transfer or notification of the delay.

Bruce

He hasn't sent me anything; he was just being a jerk.


Firstly, if they communicated with you, please tell us when they did so and relay what they said here, so all of us can find out what is up.  Secondly, since they haven't communicated with us, the fact they communicated with you doesn't get them off the hook.  Thirdly, the fact he suddenly found himself short on cash is NOT MY PROBLEM -- he runs the exchange and has to account for such things.  If he can't, HE SHOULD OWN UP TO IT AND ISSUE REFUNDS, not just sit on the money and screw all of his customers.  "I'm sorry, I'd love to pay you your money, but I gotta eat, right?"

Bruce

Why do you keep brining up the MtGox issue?

1. This order was confirmed *last* Monday and thus filled either *last* Monday or Tuesday at the latest; before any MtGox issues.

2. The guy runs his own exchange.  MtGox is *according to his website* simply for price determination.  It's up to him to cover the sales, not to wait until he's sold it on MtGox.  If I wanted to rely on MtGox for the transaction I could have used MtGox directly.

3. If the MtGox issues were preventing the transaction he should have communicated such to his customers.  He has not.

4. If the MtGox issues were preventing the transaction he should either cover the sales out of his own pocket or refund the bitcoins to his customers, along with transaction fees and commission, plus interest.

Update: Still no transfer today.  It's now been a full week since confirmation.

Bruce

Fiirstly, why is everyone preaching patience?  If BitcoinExchange typically takes a week, that's their choice, BUT THEY ADVERTISE 72 HOURS WORST CASE.  It's false advertising regardless of the reason, and intentionally deceptive if they routinely take a week as everyone here seems to be saying.

Secondly, again, they claim the weekend is the holdup, when it clearly is not; had they done the transaction on Tuesday it would have been done Thursday or Friday.  So, this is again BitcoinExchange lying to customers, regardless of whether or not they always say this.

Thirdly, this has nothing to do with MtGox being hacked, as my transaction was made Monday.  If it was, then they should have emailed me saying, "Hey, MtGox was hacked, your transaction is delayed, sorry for that, he's a partial refund."  They have not, nor do I expect them to do so.

"Dude", I'm letting everyone here know that BitcoinExchange lies about their turnaround times and won't answer their emails.  It was only when I posted here to publically embarrass them did they even bother to respond.

As predicted, BitcoinExchage claimed "it's the weekend" excuse:

> Please read the thread, ACH transferrs are not processed by banks on weekend. Furthermore, there are no ACH transaction fees to begin with.
>
> Your payment should arrive by Tuesday.

Again, the sale was confirmed Monday evening.  At the latest he should have started the transfer Tuesday.  The ACH transfer should have completed Thursday or Friday.  The weekend would never be involved.  It was only involved because he decided to not initiate the transfer until who knows when... Friday probably.

If they've been "set back" in how quickly he should process things, they should have advised such in the email.  Instead, I was told "Great, will get this out ASAP." which seems to have been misleading.  Also, they should update the website.

The service is less than advertised, so I don't think I should have to pay the advertised price.

It's not "free money"... the only person getting "free money" is BitcoinExchange, which not only takes a percentage of the transaction, but also apparrently gets to sit on it as long as they like to sell whenever they like and pocket the extra profit, interest free, rather than service you in a timely manner.

I have no problem with exchange services that provide 72-hour turnaround.  I have a problem with exchange services that advertise a 72-hour turnaround WORST CASE and instead provide a 168-hour turnaround (or never, who knows?).

You're probably being sarcastic.  I realize it's small-time but a ripoff is still a ripoff.  I would say, if you feel bad for me, send me BitCoins, but as I can't seem to find a reliable way to convert BitCoins to cash, I don't know what I'd do with them.

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So far I am dissastisfed with BitcoinExchange.cc.  They owe me money and have not paid me.

They gave me a quote Monday afternoon to sell my ~1.33 bitcoins and sent me a confirmation after sending them my banking information for ACH transfer.  They say on the website that all payments will post with 72 hours.  Thursday night I sent them an email.  No response.  Friday night I sent them an email.  No response.  Saturday night I sent them an IM on this board.  No response.

Since Monday I have initiated, and received, a completely unrelated ACH transfer to my bank account, so I know it's not an issue with my bank.  I'm sure BitcoinExchange will now claim that since it is the weekend, I can't expect my money until Monday.  That may be, but that's a violation of their 72 hour pledge.  Basically they've held my money for a week interest-free, free to sell it at their convenience on the market at a price higher than what I was given, without having to worry about cash flow issues.  That's a nice racket.

Not only do I demand payment but I believe they should waive their % fee for taking so long.  I cannot recommend anyone else use BitcoinExchange.cc because of this.

Bruce

I'd like to request early escape from the newbie zone.  I don't plan to post much here and I'm not even that much into Bitcoins, you can see my pitiful stats here:

http://bitcoinpool.com/index.php?do=userprofile&id=sirbruce

The only reason I want to post on the forum is to warn other users about my experience with bitcoinexchange.cc.  They gave me a quote Monday afternoon to sell my 1.33 bitcoins and sent me a confirmation.  They say all payments will post with 72 hours.  It's not been 5 days and they have neither paid me nor responded to my emails.  Basically they've ripped me off.

Thank you for your consideration,

Bruce