Don't buy anything from coinabul. Yet another complaint.

[Phinnaeus Gage]

Is it time to put them here ?

http://bitcoin-shitlist.com/

Thinking about taking that site offline, because ,seriously, for how many scams happen around here you see people aren't willing to share their experiences outside of this forum.
It's a failure.


Phinn, Joe's datacenter?

That's an excellent guess, but honestly I didn't know they were down tell after I posted here, then I went ahead and posted my parking ticket comment.

[Amitabh S]

Can we get a response from Coinabul? These are some pretty serious allegations.

[CanaryInTheMine]

Let's see if this is legit or a scam.  I placed an order for 1 coin from their website.

Sent the bitcoins in.  Got the email confirmation of the order.  Called both numbers several time, left voice mails.  no returned phone call.

Sent an email asking for shipping status.

No responses yet.

[fcmatt]

Isnt it obvious? He is selling what he does not have in some cases. He goes out and makes an order and once in ships it.
A middleman making a cut from you. Just order from a reputable site who actually has possession of what they are selling and if not it is marked out of stock.

[barbarousrelic]

Isnt it obvious? He is selling what he does not have in some cases. He goes out and makes an order and once in ships it.
A middleman making a cut from you. Just order from a reputable site who actually has possession of what they are selling and if not it is marked out of stock.

Are there other such 'gold and silver for bitcoin' sites?

[CanaryInTheMine]

i sure would like to know...

[fcmatt]

Isnt it obvious? He is selling what he does not have in some cases. He goes out and makes an order and once in ships it.
A middleman making a cut from you. Just order from a reputable site who actually has possession of what they are selling and if not it is marked out of stock.

Are there other such 'gold and silver for bitcoin' sites?

i am unsure. i would have to google to find out.
but are you so desperate to pay with btc that you are willing to risk some screw up?

just how much above spot (usd) per oz of silver and oz of gold are you willing to pay with a reasonable shipping fee?

[barbarousrelic]

Isnt it obvious? He is selling what he does not have in some cases. He goes out and makes an order and once in ships it.
A middleman making a cut from you. Just order from a reputable site who actually has possession of what they are selling and if not it is marked out of stock.

Are there other such 'gold and silver for bitcoin' sites?

i am unsure. i would have to google to find out.
but are you so desperate to pay with btc that you are willing to risk some screw up?

just how much above spot (usd) per oz of silver and oz of gold are you willing to pay with a reasonable shipping fee?

I'm looking for a discount versus local coin shops because I'm paying in Bitcoin.

[fcmatt]

Isnt it obvious? He is selling what he does not have in some cases. He goes out and makes an order and once in ships it.
A middleman making a cut from you. Just order from a reputable site who actually has possession of what they are selling and if not it is marked out of stock.

Are there other such 'gold and silver for bitcoin' sites?

i am unsure. i would have to google to find out.
but are you so desperate to pay with btc that you are willing to risk some screw up?

just how much above spot (usd) per oz of silver and oz of gold are you willing to pay with a reasonable shipping fee?

I'm looking for a discount versus local coin shops because I'm paying in Bitcoin.

That makes it hard for a bullion operation then who has to keep getting new stock. No major supplier of bullion wants btc.
So one has to sell cheaper, take a hit converting to usd plus volatility, restock hopefully in quantity to save money, and repeat.
A lot of work to make a few dollars selling an oz of gold via mail.

[barbarousrelic]

That makes it hard for a bullion operation then who has to keep getting new stock. No major supplier of bullion wants btc.
So one has to sell cheaper, take a hit converting to usd plus volatility, restock hopefully in quantity to save money, and repeat.
A lot of work to make a few dollars selling an oz of gold via mail.

An online Bitcoin bullion store, which does not need to rent a storefront or pay for utilities, and who does not need to worry about credit or debit card fees, or check fraud, should be expected to have slightly cheaper rates than a traditional B&M store that has to pay for all of these.

Bitcoin-based stores can sell all Bitcoin payments for USD immediately if they want to, so they run no risk of the price of Bitcoin dropping.

There are USD-based online coin dealers that hold stock and sell from their stock. It shouldn't be impossible for a Bitcoin-based coin dealer to hold stock and sell from their stock.

[fcmatt]

That makes it hard for a bullion operation then who has to keep getting new stock. No major supplier of bullion wants btc.
So one has to sell cheaper, take a hit converting to usd plus volatility, restock hopefully in quantity to save money, and repeat.
A lot of work to make a few dollars selling an oz of gold via mail.

An online Bitcoin bullion store, which does not need to rent a storefront or pay for utilities, and who does not need to worry about credit or debit card fees, or check fraud, should be expected to have slightly cheaper rates than a traditional B&M store that has to pay for all of these.

Bitcoin-based stores can sell all Bitcoin payments for USD immediately if they want to, so they run no risk of the price of Bitcoin dropping.

There are USD-based online coin dealers that hold stock and sell from their stock. It shouldn't be impossible for a Bitcoin-based coin dealer to hold stock and sell from their stock.

Any major bullion purchase is done via wire or check (with most having a waiting period).
It is true you can save money with no brick and mortar store but keep in mind that major online sellers have a single location that
serves the world. That scales VERY well.

btc sent -> bullion owner sends to exchange -> six confirmations later they possibly lost a percentage before selling. They need to hedge
which is truly not available to my knowledge. Lets be realistic here. It can go up and it can go down. A slow decline over a few month
period could put a person out of business due to no profits.

And that is what I would like to see. A btc bullion store with 4-7 offerings in stock and ready to ship. But that requires, lets guess,
50K to 100K to start up. Buying a few gold sizes will chew up 50K easily.

Anyway. I do not want to be argumentative. I just think coinabul does not keep most of their goods in stock and if they have to
order it via mail... one should not expect their goods in 7 days. Triple that easily. Sometimes even longer if the companies they are
selling from is out of stock.

But lets see what the free market offers in the next months.

[Justin00]

^^^ the waiting part would be fine if the communication was their from the start. The problem is when you ask "is XX in stock" and they say "yeah, will be shipped in 3 days" and then 3 weeks later you still have to keep chasing them.

[MPOE-PR]

12 Bricks Of Gold Hidden In Car Seized At Swiss Border

Gee, I hope that scammer Coinabul is reshipping that gold. I'm sure the customer paid for it fair and square. He'd better reship it or else there's probably going to be a scammer tag!

[rpietila]

But lets see what the free market offers in the next months.

There are already bullion dealers around who only sell from their own stock.

[barbarousrelic]

But lets see what the free market offers in the next months.

There are already bullion dealers around who only sell from their own stock.

Other bullion dealers selling for Bitcoin? Which ones?

[rpietila]

But lets see what the free market offers in the next months.

There are already bullion dealers around who only sell from their own stock.

Other bullion dealers selling for Bitcoin? Which ones?

I, for example. Only serve the EU, though. Have been full time precious metals dealer since 2006. See the links below for details.

[barbarousrelic]

But lets see what the free market offers in the next months.

There are already bullion dealers around who only sell from their own stock.

Other bullion dealers selling for Bitcoin? Which ones?

I, for example. Only serve the EU, though. Have been full time precious metals dealer since 2006. See the links below for details.

Ah, neat. Unfortunately I am not in the EU.

[ArmoredDragon]

Is it possible to get a refund after you've already sent your bitcoins? I don't want to wait 3 weeks.

Don't think I'll ever buy from them again if my coins don't arrive by next friday. It wasn't even a large order, it was a very small one.

[CanaryInTheMine]

another day, no responses from coinabul

[DonChate]

For those who cashed out when bitcoin was over $200, I wonder if they converted to USD fast enough... for everyone's sake.