SCAM - Coinabul owe me 90btc

[Phinnaeus Gage]

Can't say I'm a big fan of the idea of giving businesses scammer tags over customer service disputes. The real world is never that black and white, I expect to see Amazon or Newegg here next.

Isn't there a guy on this forum that works at Google? He should get the scammer tag to warn people of Google. 

That said, and to drive your sentiment home, Pirate, operating as a business of sorts, ended up not servicing his customers, therefore his tag is unjustified. Just saying with humor, bud.

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[HappyBitCoinUser]

People need to accept the way Coinabul does business, or just not buy from them.

They have long shipping times, this we already know. But you will get your coins (if your country allows).

Now about payments and reimbursements...

Obviously when they receive and start processing an order, soon as you make your BTC payment, they probably convert that into USD right away! This is to prevent their business from losing money if the BTC drops in value by time they get the silver and gold to ship.

So the current value of silver/gold vs the current value of BTC on the day you buy is set. They sell BTC right away to order your silver/gold.

Now something goes wrong... and you need refund?

You already know they sold your BTC for the value on the day you make purchase. Common sense is to use that same USD value the silver/gold was sold at, and return that amount of BTC.

If you don't like that system of payment/reimbursement, then you have other options! You could sell the BTC yourself on MtGox, wire the USD to your account, and then use those USD to purchase silver/gold on website that accepts USD. Coinabul is basically acting like the middle man, doing the selling of BTC for you, so that you don't have to sell/wire the money to your bank before making a purchase.

So assuming when you bought the 1 oz gold it was worth $1600, and the total BTC value is about the $1600 value. You send in X number of BitCoins worth $1600 at time of purchase, then you'll receive Y number of BitCoins worth $1600 at time of refund.

You can argue to receive the same amount of BTC all day long until your blue in the face, but it doesn't work that way, and if Coinabul did work that why they'd have potential for huge losses.

This would be less of issue if they had inventory in stock to ship same day that payment was received, to reduce the chance for BTC to change value. But the probably don't have enough money to have huge inventory stocks. So they created a system. Send them BTC. They'll see it for market value of BTC to USD, and give you same day market value of silver/gold, by ordering from other company paid in USD that they got from your BTC.

You can stop crying to get back the same BTC amount you sent, its not going to happen. If you get refunded in BTC then it'll be the same BTC value, not volume.

Enjoy!

[Herodes]

People need to accept the way Coinabul does business, or just not buy from them.

Judging from the stories of customers. The problem is lack of reponsisiveness and helpfullness from the company. Heck, even one of their employees had enough and resigned, posting all about it on this forum. Lost me as a prospective customer for sure.

[Rawted]

Wait, so this entire business revolves around you placing an order, them converting the btc, buying the stuff, waiting for shipment, and then re-mailing to you? Why the heck wouldn't you just do this yourself? Who wants to wait months, pay a premium, and possibly face total loss, over what amounts to just being lazy? Some of you are really stupid when it comes to your money.

[HappyBitCoinUser]

... and finally the lights come on.

[Phinnaeus Gage]

Wait, so this entire business revolves around you placing an order, them converting the btc, buying the stuff, waiting for shipment, and then re-mailing to you? Why the heck wouldn't you just do this yourself? Who wants to wait months, pay a premium, and possibly face total loss, over what amounts to just being lazy? Some of you are really stupid when it comes to your money.

Because I want to buy my shovels from ShovelaBull using bitcoins, that's why. All the other shovel dealers want paid the old fashion way, thus they can't be trusted.

Jeez! Do I have to explain everything?

[fourd00rgtz]

I have had orders take 3wks to go from processing to shipped in the past, currently on 2wks processing for my most recent order.

With less staff I wouldn't expect the wait times to get any better. Meanwhile a competitor is hiring additional staff to cope with the onslaught of BTC orders, I've got one in with them too, I bet it arrives first even though it was placed 12days later.

[DonChate]

So, you guys think that coinabul is going to ship all the large volume orders that were placed in the last few days when BTC was $250?  

[HappyBitCoinUser]

They cashed the BTC right away so they already made 10% profits.

[CanaryInTheMine]

I have had orders take 3wks to go from processing to shipped in the past, currently on 2wks processing for my most recent order.

With less staff I wouldn't expect the wait times to get any better. Meanwhile a competitor is hiring additional staff to cope with the onslaught of BTC orders, I've got one in with them too, I bet it arrives first even though it was placed 12days later.

who's the competitor?

[CanaryInTheMine]

Got an email telling me that my order "has been Pending."
really???  how's that telling me anything different that what you have on the website.
When are you shipping?  what's the tracking #?

[davidspitzer]

What is going on here? Is this Jay from Coinabul?

http://www.youtube.com/watch?v=d46dFmAmnuc

[HappyBitCoinUser]

What is going on here? Is this Jay from Coinabul?

http://www.youtube.com/watch?v=d46dFmAmnuc

LOL

Did you make it? Can you explain more?

[davidspitzer]

What is going on here? Is this Jay from Coinabul?

http://www.youtube.com/watch?v=d46dFmAmnuc

LOL

Did you make it? Can you explain more?

It was not me  - I found it on youtube -

[Sander]

What is going on here? Is this Jay from Coinabul?

http://www.youtube.com/watch?v=d46dFmAmnuc

Why is it that Americans cry assault over every fart in their general direction.

[HappyBitCoinUser]

People are dramatic, esp when trying to get someone else in trouble.

I had a neighbor that would roll around in the street crying about his leg over the slightest thing, and then his parents would come running out. So pathetic.

Even if that video ended up in court in an assault case, I'm sure any jury with common sense can see that door opening was a possible mistake, and obviously the camera man wasn't hurt, just being dramatic and trying to entrap.

[davidspitzer]

People are dramatic, esp when trying to get someone else in trouble.

I had a neighbor that would roll around in the street crying about his leg over the slightest thing, and then his parents would come running out. So pathetic.

Even if that video ended up in court in an assault case, I'm sure any jury with common sense can see that door opening was a possible mistake, and obviously the camera man wasn't hurt, just being dramatic and trying to entrap.

Can anyone verify if that was actually Jay of Coinabul

[fourd00rgtz]

I have had orders take 3wks to go from processing to shipped in the past, currently on 2wks processing for my most recent order.

With less staff I wouldn't expect the wait times to get any better. Meanwhile a competitor is hiring additional staff to cope with the onslaught of BTC orders, I've got one in with them too, I bet it arrives first even though it was placed 12days later.

who's the competitor?

AmagiMetals link in my signature.

[CanaryInTheMine]

Still Pending... no shipping info.

[rpietila]

Can anyone verify if that was actually Jay of Coinabul

Yeah. Good question. Why don't you all attend your own business. Selling precious metals is a pain, even just this week I got 2 international insured gold orders returned from post office, with no reason  Being busy is not a scam, and you can always buy from me (EU ONLY) or Amagi Metals that seems legit.