But they're using an exchange at the time of purchase. That should be blatantly obvious!
BFL through BitPay as an intermediary is using the exchange, not the customer! BFL have full control how do they setup their BitPay merchant account, when and what % of bitcoins they get and % exchanged against dollars. |
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They should've clearly stated the fact that you were actually selling your BTC and paying in USD when making the transaction. They can't! They are not an exchange! Ask davout what does it mean in terms of regulations? |
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On the pic you provided is says the USD price in a much bigger font and the BTC price in brackets, much smaller and some lighter shade of gray. All that is on the left-hand side of the "invoice" which concerns itself with the price. The right-hand side concerns itself with the payment process. Thanks for suggesting your point of view, molecular. I have never had any special interests in Impressionism (soleil levant), you know, all those shades, colors, forms, brush strokes, emphasis, accurate depiction of light and nuances. I'm afraid my knowledge in this field is quite inferior to yours. All I know is that all the data in an invoice is equally important independently of color, size or place of the fonts used! |
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Bitcoin/$ rate is exploding. Looks like a lot of bitcoins needed for refunds are missing, huh?
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That is not pricing in Bitcoins. That is asking for payment in Bitcoins in an amount equivalent to the USD pricing. Have you heard about a commercial document called INVOICE issued by a seller to the buyer, indicating the products, quantities, and agreed prices for products or services the seller has provided the buyer? Go read somethin'! |
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Hey if you can't handle lying to stupid people then sales is not for you.
Well, they don't even sell a product. They're selling non-binding promises to their creditors. That's all. Pocketing bitcoin enthusiasts is the easiest made money these days. |
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USD to BTC conversion, neither more nor less
Sure. BFL can do whatever conversion they want after they have received customer bitcoins. Customers can't do anything about it. |
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becoin: Did they promise to do full BTC refunds at any point ? Do you have to respect the law if haven't promised to respect it? |
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Ok, then take it to a courtroom and STFU about it here. I will, I will buddy... Take a seat and be patient. It takes time. |
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Why do people not get this? It was NOT priced in bitcoins!!! Here's an example of what did NOT happen...
You are wrong!!! It WAS and still IS priced in bitcoins as well. I don't give wishful examples. I give proof!  |
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Take it to a courtroom becoin, and prove us all wrong. Until then, you're just making yourself look like an idiot here.
There is no point in responding to insults from people with large vested interest in BFL scam, SgtSpike. They are just that - BFL cheerleaders, jumping to defend the mood of their investors (pardon me, clients, as per BFL classification). |
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i guess he means: if paid in btc only refunds in btc. if payed in usd refund only in usd. Very strange, isn't it? |
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but nearly no company would do this as their expenses are in usd (at least for now). to much risk for them. Simple. Such companies should not accept bitcoin payments and claim they are part of the bitcoin community! tell this bitpay... they offer exactly this service. I wasn't aware that bitpay is selling insurance policies to merchants against bitcoin appreciation! Where do I read about it? |
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but nearly no company would do this as their expenses are in usd (at least for now). to much risk for them. Simple. Such companies should not accept bitcoin payments and claim they are part of the bitcoin community! |
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if BTC was 1$ today i bet you wanted your refund in $ not in BTC. Already answered above. I didn't buy my BTC before I sent them to BFL. I bought them months before I decided I want to purchase an ASIC. What a miserable failure? Never purchase anything from "pre-order" crooks! |
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STOP
...
if in a few months the price of bitcoin collapses, cancel and request a refund in dollars STOP if in a few months the price of bitcoin collapses, BFL will repay all refunds for bitcoin payment in bitcoins as hti is the right thing to do! They would have been absolutely legal and they would have win big. But unfortunately for them, bitcoin appreciated and they got toast. They didn't hedge their speculation against bitcoin appreciation! This is why now, as bitcoin refunds with BFL keep growing, the price of bitcoin is rising. |
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Am I reading this right? You want to make a profit off your refund? You ain't right in the head, right? You can't even do simple math! If Payment=XXXXX bitcoins=Refund Then Payment-Refund=0 Why do you fail to understand that I had the bitcoins in my pocket BEFORE sending them to BFL? How am I more profitable, doing payment to BFL and getting a refund for the same BTC amount, than those that didn't pay anything to BFL but just have the bitcoins in their pocket all the time? How adding or subtracting ZERO on either side of a profitability equation will change its meaning? Jesus... There are all kind of idiots on these forums! |
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no they sold you a product nominated in USD.
you just used btc to purchase it. No, you can not say that unless the "product" they sold me is actually a bond! |
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.. we almost always lose a little in the conversion as CC rates always include their cut. Sure. This is why I have a contract signed with my credit card issuer, to control how much I lose in such conversions. If I purchase USD priced products the credit card issuing bank (My Bank running my account in CAD) is doing the conversion for me and is sending USD to the US-based merchant. The TRANSACTION currency is the USD. This is why the refund is in USD, as this is the TRANSACTION currency! The above is in total contrast to what BFL are doing. BFL customers do not have anything to do with BitPay. They don't have any contract signed with BitPay. On the contrary, this is BFL that is having a contract signed with BitPay. BitPay is doing the conversion on behalf of BFL and of course BFL have the full control when and what % of the received bitcoins they want converted! By insisting that bitcoin payments should be refunded in fiat currencies you are actually compromising the future of bitcoins. No one will be willing to pay in bitcoins or lend in bitcoins as they risk getting a refund or a redemption that is only a fraction of what they have paid a month, a year, or a decade ago! |
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Using BTC with an Exchange
by BFL_Jody , 01-17-2013
If I wanted to use BTC Exchange I would have gone to MtGox. If I wanted to buy dollars certainly, I would have done this. But strangely, I wanted to buy an ASIC. At that time BFL seemed a good idea to me. So, I bought an ASIC. Not to BFL's stance... They claim they sold me dollars! |
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