Another Goxing?! Amagi Metals?

[Q7]

I hope people don't put blame into btc or any sort. This involves only the company and I'm sure funds can be returned if gone through proper channel since they are registered business operation.

[Nagle]

I hope people don't put blame into btc or any sort. This involves only the company and I'm sure funds can be returned if gone through proper channel since they are registered business operation.

The problem is that Bitcoin businesses tend to speculate in Bitcoin, which has been a lose for 18 months now. This can take down their main business unless they have a lot of financial strength, which they usually don't.

Again, if they owe you and aren't paying, file suit NOW. Do not wait. Do not assume things will get better. They seldom do.

[var53]

I hope people don't put blame into btc or any sort. This involves only the company and I'm sure funds can be returned if gone through proper channel since they are registered business operation.

The problem is that Bitcoin businesses tend to speculate in Bitcoin, which has been a lose for 18 months now. This can take down their main business unless they have a lot of financial strength, which they usually don't.

Again, if they owe you and aren't paying, file suit NOW. Do not wait. Do not assume things will get better. They seldom do.

That's what I would do if they owed me money. Any registered business operation that goes bankrupt might have little or no money left to pay creditors with. It can take forever for the bankruptcy proceedings to finish before any remaining money is divided between the creditors. Suing now might secure the return of everything you are owed much faster than waiting and risking them going bankrupt.

[bigtimespaghetti]

A lot of people speculating on Amagi holding a lot of btc. From an interview I heard last year with the owner I think that they were only holding a fraction of their profits in btc (we are talking no more than 10%)- due to the low margin nature of their business. Maybe this is to do with something other than bitcoin being in a bear market.

[OROBTC]

...

That is really too bad to Amagi go down as well.

Note that I once purchased from them with Bitcoin.  There were delays, this was maybe a year or two ago.  It took weeks for them to ship me my PMs...  Whenever anyone delays shipping, I find another supplier.

But, it is true what someone above wrote: being a precious metals dealer is low margin.

Caveat emptor.

[manselr]

I saw this guy (the CEO from Amagi) making a lot of interviews and saying how awesome Bitcoin was. I hope he is at least still a supporter. He took a big risk, way too risky to go 100% Bitcoin only. It's best to keep it fiat too, we are too early in the game to try to get a way with a successful 100% Bitcoin only business. Once Bitcoin is more known among "Normal" people then we'll see that kind of business having big success.

[gentlemand]

I saw this guy (the CEO from Amagi) making a lot of interviews and saying how awesome Bitcoin was. I hope he is at least still a supporter.

I'm not so sure it's the same guy any more.

[smoothie]

A lot of people speculating on Amagi holding a lot of btc. From an interview I heard last year with the owner I think that they were only holding a fraction of their profits in btc (we are talking no more than 10%)- due to the low margin nature of their business. Maybe this is to do with something other than bitcoin being in a bear market.

Weren't they the ones who said they would remove fiat payments completely?

Implying they were going to be heavily invested in btc at some point?

[gentlemand]

Weren't they the ones who said they would remove fiat payments completely?

Implying they were going to be heavily invested in btc at some point?

https://www.amagimetals.com/info/no-dollars-after-2016/

[smoothie]

Weren't they the ones who said they would remove fiat payments completely?

Implying they were going to be heavily invested in btc at some point?

https://www.amagimetals.com/info/no-dollars-after-2016/

i believe this still implies they were holding more BTC than normal going into 2015 etc