REVIEW : Dealing with dashingriddler / coinmonk.com

[americandesi]

Hello All,

This is with regards to the post https://bitcointalk.org/index.php?topic=243888.0 and dealing with dashinriddler in trading btc's.
The reason am making a new thread is because the above topic was locked from posting by the author (dashingriddler).

As you can read from the thread, it all started when he posted saying he is looking to buy 100 btc's.
By the time we decided that we can trade with each other, he had already procured 70 btc's and was waiting to fulfill only 30 btc's.

I showed interest in selling him the balance of 30 btc's for which he accepted the offer.
However, he requested my confirmation on that so that he need not keep searching for sellers. I confirmed him the same and in the process i told him i have 20 btc's readily available and the balance 10 will be available by Monday or latest by Tuesday. I also agreed to pay the escrow fee as he looked genuine and was sticking to his word of Rs 6200 INR even though the btc rates had come down slightly.

This all happened on Sat, 29th June 2013. After this, I started working over the weekend towards procuring the remaining btc's to fulfill his order.

Fast forward to Monday morning (USA time). My bank cleared the payment and i sent him a personal message at 4:37 PM (server time) saying the all the 30 required btc's are ready to start the transaction and later at 4:52 PM, he updates the thread saying that he procured it somewhere else since the BTC prices has fallen way below and locks the thread.

He didn't even have a courtesy to send me a PM stating that he got another offer with a lesser price. He didn't even have a little bit of courtesy to inform me that he already brought the BTC's after receiving my PM.

I agree that BTC trading is a free market, anonymous and again whoever offers a better rate wins. But whatever happened to something called mannerism and business etiquette. Din't we study that in school?

As a matter of fact, i was monitoring the BTC rates over the weekend which was now at around 93 BTC and since he sounded like a gentlemen initially by honoring the price of Rs 6,200.00 INR per btc even though the BTC rate was hovering around $97 when we froze the deal, i had procured 31 BTC's for him instead of 30 BTC's and had decided to send him all the 31 for the same agreed INR price as I didn't feel quite right because the delay was from my side.

@dashingriddler
1) If you had just PM'ed me before making the deal with someone else requesting to re-negotiate, then i would have been more than happy to do that. Am not here to get rich overnight. I have other businesses / startup companies that make me one.

2) I have been a heavy investor in ASICMINER Shares and after the recent review by fellow members of the community on coinmonk including some of them whom i trust the most in this community, i was actively watching the topic to invest heavily to the tune of hundreds of btc's in coinmonk to diversify my investments in bitcoin related securities. I thought why shouldn't i invest, after all it is a group from my own town. But i don't think it would ever happen now since you as a main promoter of coinmonk lack the basic quality required to carryout a successful business i.e the "proper business etiquette".

I feel some of us should really learn from people like Narayana Murthy and other successful entrepreneurs. Or for that matter friedcat.

All the screenshots are posted below for the community.

His post with the rate confirmation on June 29th, 2013


http://imgur.com/lM9VcQn

My PM to him today saying that all the required 30 btc's are ready. Please note the server time 4:37 PM


http://imgur.com/1fAfkPo

His final post saying he already procured the BTC's from someone else. The server timestamp shows it as 4:52 PM. It also shows my acknowledgement to his reply on June 29, 2013.


http://imgur.com/gXh0k43

If anyone wants to see the entire thread, then the screenshot image is available here.
http://imgur.com/VEB3WMR

[1715038105]

1715038105

[dashingriddler]

Um, after replying and locking the thread, i started typing a long PM for you with apology about what has happened and why i had to back out but i got distracted with an email that just popped up and I had to attend it. It made me to spend some time to deal with it and i got back to complete your PM to send to you. I continued to expect your reply but just went to your "last posts" casually and i noticed this post. While i was typing your PM, it seems you took the same time to write this review. I just did not expect you would react so soon. I just hope u should have waited a while longer before writing this

As you have made me to stand in a position where i am required to reply to you on this thread, i m just pasting the PM that i had sent you.

Hello,
I am letting you know that the friend for whom i have put up the post for 100 btc happen to find a better deal for remaining 30 btc from a local dealer and decided to go ahead there. When i got the call from my friend regarding this, i came to forum to check my messages on my mobile if u have left any reply and i did not find any and i had to give him a go. It just took me time for me to reach home and reply to the thread about the fact that i had to close the deal. Just then, I saw ur reply that u had 30 btc ready but unfortunately i could not help the situation. I also noticed ur reply was about 15 min ago before i replied and closed my thread but i was in a hurry to close my thread before checking my inbox. How ever i believe u can understand that i did not find a local dealer for my friend with in those 15 minutes and if i could really find a local dealer who was ready to sell btc, i would not be on forum looking for btc in first place. I was just trying to get funds to an investor who was willing to invest on my website coinmonk.com and he will have a better say as it is his money and as per his words about if the btc values goes below 6000 he will back out from the offer. I just did not foresee btc value would fall so much that he could back out today - else he could not back out. I hope you understand my situation. I hope we can do a business another time in near future.

Thank you

[americandesi]

Um, after replying and locking the thread, i started typing a long PM for you with apology about what has happened and why i had to back out but i got distracted with an email that just popped up and I had to attend it. It made me to spend some time to deal with it and i got back to complete your PM to send to you. I continued to expect your reply but just went to your "last posts" casually and i noticed this post. While i was typing your PM, it seems you took the same time to write this review. I just did not expect you would react so soon. I just hope u should have waited a while longer before writing this

As you have made me to stand in a position where i am required to reply to you on this thread, i m just pasting the PM that i had sent you.

Hello,
I am letting you know that the friend for whom i have put up the post for 100 btc happen to find a better deal for remaining 30 btc from a local dealer and decided to go ahead there. When i got the call from my friend regarding this, i came to forum to check my messages on my mobile if u have left any reply and i did not find any and i had to give him a go. It just took me time for me to reach home and reply to the thread about the fact that i had to close the deal. Just then, I saw ur reply that u had 30 btc ready but unfortunately i could not help the situation. I also noticed ur reply was about 15 min ago before i replied and closed my thread but i was in a hurry to close my thread before checking my inbox. How ever i believe u can understand that i did not find a local dealer for my friend with in those 15 minutes and if i could really find a local dealer who was ready to sell btc, i would not be on forum looking for btc in first place. I was just trying to get funds to an investor who was willing to invest on my website coinmonk.com and he will have a better say as it is his money and as per his words about if the btc values goes below 6000 he will back out from the offer. I just did not foresee btc value would fall so much that he could back out today - else he could not back out. I hope you understand my situation. I hope we can do a business another time in near future.

Thank you

Hello Dashingriddler,

Thanks for the PM and your reply here. Yes indeed you replied which was hours after this post went live and after almost 3 hours of closing your original thread (at 7:34 PM server time).
Since no one else offered to sell the btc to you publicly on that thread and since you had confirmed and committed to me for the remaining 30 BTC's openly on the thread, as a matter of courtesy, you should have replied to me first rather than posting and closing the thread. A single line message would have been sufficient.

And to your point of your friend calling you and telling you that he found a local dealer. When you checked for my messages on your phone, if you had sent me a single line message inquiring the status, i would have let you know. It is not like i was overdue. I had mentioned it even before we froze the deal that i will have all the btc's ready by Monday or Tuesday. I stood by my word and you (in turn your friend) didn't.

I agree.. things happen.. But I just want to let you know that for some of us, it is a genuine business and am sure it is the same for you as well so why not act professionally and follow the same protocol as in other real world businesses.

Anyways, thanks for the clarification. Am not mad that you didn't buy from me. Am sure the circumstances out of your control acted here and hence we were not able to do business this time.

Nevertheless, i will still keep the OP here on the forum without editing or deleting it.
It is a lesson learnt for both of us.

P.S: if you need to buy BTC's in bulk. You know where to find me.!

[subvolatil]

Bummer !!! :-(  that sucks ... humm....

[dashingriddler]

Um, after replying and locking the thread, i started typing a long PM for you with apology about what has happened and why i had to back out but i got distracted with an email that just popped up and I had to attend it. It made me to spend some time to deal with it and i got back to complete your PM to send to you. I continued to expect your reply but just went to your "last posts" casually and i noticed this post. While i was typing your PM, it seems you took the same time to write this review. I just did not expect you would react so soon. I just hope u should have waited a while longer before writing this

As you have made me to stand in a position where i am required to reply to you on this thread, i m just pasting the PM that i had sent you.

Hello,
I am letting you know that the friend for whom i have put up the post for 100 btc happen to find a better deal for remaining 30 btc from a local dealer and decided to go ahead there. When i got the call from my friend regarding this, i came to forum to check my messages on my mobile if u have left any reply and i did not find any and i had to give him a go. It just took me time for me to reach home and reply to the thread about the fact that i had to close the deal. Just then, I saw ur reply that u had 30 btc ready but unfortunately i could not help the situation. I also noticed ur reply was about 15 min ago before i replied and closed my thread but i was in a hurry to close my thread before checking my inbox. How ever i believe u can understand that i did not find a local dealer for my friend with in those 15 minutes and if i could really find a local dealer who was ready to sell btc, i would not be on forum looking for btc in first place. I was just trying to get funds to an investor who was willing to invest on my website coinmonk.com and he will have a better say as it is his money and as per his words about if the btc values goes below 6000 he will back out from the offer. I just did not foresee btc value would fall so much that he could back out today - else he could not back out. I hope you understand my situation. I hope we can do a business another time in near future.

Thank you

Hello Dashingriddler,

Thanks for the PM and your reply here. Yes indeed you replied which was hours after this post went live and after almost 3 hours of closing your original thread (at 7:34 PM server time).
Since no one else offered to sell the btc to you publicly on that thread and since you had confirmed and committed to me for the remaining 30 BTC's openly on the thread, as a matter of courtesy, you should have replied to me first rather than posting and closing the thread. A single line message would have been sufficient.

And to your point of your friend calling you and telling you that he found a local dealer. When you checked for my messages on your phone, if you had sent me a single line message inquiring the status, i would have let you know. It is not like i was overdue. I had mentioned it even before we froze the deal that i will have all the btc's ready by Monday or Tuesday. I stood by my word and you (in turn your friend) didn't.

I agree.. things happen.. But I just want to let you know that for some of us, it is a genuine business and am sure it is the same for you as well so why not act professionally and follow the same protocol as in other real world businesses.

Anyways, thanks for the clarification. Am not mad that you didn't buy from me. Am sure the circumstances out of your control acted here and hence we were not able to do business this time.

Nevertheless, i will still keep the OP here on the forum without editing or deleting it.
It is a lesson learnt for both of us.

P.S: if you need to buy BTC's in bulk. You know where to find me.!

I am glad things did not get stuck up. Yes i wish i had messaged you when i checked my phone for your reply. But u know it is a big pain to type message on phone and more over i knew i would be home in next 30 mins. So i was just wrong in my assumption that you would not reply or take the deal any further with in those 30 mins.

I am glad i did not lose you as a potential seller for btc. I know i will need your service in near future as i get more investors

[buysellbitcoin]

When BTC was having roller coaster ride in April, we had to back off from one deal. The price difference was staggering and there is no way we or any one else would have completed that deal. But still we feel bad about that because its not good for both the parties.

We learnt our lesson and we strictly follow the rule of fixing price only after we receive transaction ( either Bitcoin or INR ). For regular customers we still allow 4 hour locking period, but not more than that.

PS : We are happy that things resolved with this case. Best of luck

Cheers

[drdanishkhan]

So glad to see people resolving conflicts amicably instead of going bonkers and startin hate threads..   

[Benson Samuel]

Damn, more of this self-moderation BS and I will be out of a job .

[globalgaurav]

So glad to see people resolving conflicts amicably instead of going bonkers and startin hate threads..   

More power to people of the earth