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Author Topic: Very slow coinabul finally refunded me.  (Read 5847 times)
Turks
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April 26, 2013, 02:34:35 PM
 #21

Today I got this message from contact@coinabul.com:

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I understand your frustration, but since I'd have to issue your refund at current market rates I figured an equivalent value of gold would be more ideal. Since you currently own metal as opposed to BTC, I would have to purchase your metal value back from you at the current market rate and send this value to you, as well as the cost of shipping that you paid, via purchasing BTC at current market rates. Let me know which is preferred.

Quite sucks, sorry to hear that Sad
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April 26, 2013, 05:17:43 PM
 #22

this thread is kind of an example why btc is not great as currency

c4th you don't know what you're talking about, get back to us when you graduate high school and learn a thing or two about real economics.
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April 29, 2013, 06:56:55 PM
 #23

I think that is the problem with bitcoins Sad Where you have anonymous payment there will be scammers Sad
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April 29, 2013, 08:30:32 PM
 #24

Why did you cancel your order?

I've ordered from coinabul and only had pleasant experiences with them. They are slow, but they will get you your gold.
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April 29, 2013, 08:44:45 PM
 #25

In recent months we have heard many complaints regarding this service...

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April 30, 2013, 12:07:02 AM
 #26

You haven't been scammed, you've simply been stupid. Are you aware of how most merchants accept BTC? They never touch the BTC itself, it is immediately sold and they receive USD or Euros or whatever. Therefore they don't have the BTC immediately on hand to refund.

Coinabul has done good business with me, slow but reliable. I don't know who has been complaining lately, but most of them are of a similar nature. It sounds more like you are trying to scam them than them trying to scam you. Here is what I hear from your complaint:

"I changed my mind and Coinabul refuses to lose money refunding me in BTC so they are scamming me."

I can tell you didn't read their schedule on their website as to how their process works.

I can tell you're new to this board, but I wonder if your account is a sock puppet for one of the other people that tried to slander Coinabul.

In my opinion, they offered to work with you on a fair deal and you decided to try to gouge them for more BTC.

Thralen

Supporting bitcoin as best I can with 1. mining, 2. buying with bitcoin, 3. selling (or trying to) for bitcoin. If you make a donation to:  1MahzUUEYJrZ4VbPRm2h5itGZKEguGVZK1  I'll get it into circulation.
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April 30, 2013, 12:18:19 AM
 #27

You haven't been scammed, you've simply been stupid. Are you aware of how most merchants accept BTC? They never touch the BTC itself, it is immediately sold and they receive USD or Euros or whatever. Therefore they don't have the BTC immediately on hand to refund.

Coinabul has done good business with me, slow but reliable. I don't know who has been complaining lately, but most of them are of a similar nature. It sounds more like you are trying to scam them than them trying to scam you. Here is what I hear from your complaint:

"I changed my mind and Coinabul refuses to lose money refunding me in BTC so they are scamming me."

I can tell you didn't read their schedule on their website as to how their process works.

I can tell you're new to this board, but I wonder if your account is a sock puppet for one of the other people that tried to slander Coinabul.

In my opinion, they offered to work with you on a fair deal and you decided to try to gouge them for more BTC.

Thralen

I agreed with the quoted post. My experience has been the same with coinabul. The fault here is with the buying 'changing his mind' - coinabul is being very gracious even offering the OP the buyback option, if I had been the seller I would have shipped the gold and simply told the buying 'I'm sorry, it's already been shipped'


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April 30, 2013, 09:04:19 AM
 #28

Could you please tell me how can I scam them by simply requesting a refund?

If they want to seem like a legitimate business they MUST refund their customers.

Otherwise they are scammers.

I have had nothing but good experiences with coinabul.  I agree with their stance here.  You bought at a bad time and now you want to renege on the deal.  If they allowed such things, they would be the victims of scammers.

https://www.bitcoin.org/bitcoin.pdf
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April 30, 2013, 10:32:29 AM
 #29

Virtuall, I'm afraid to say but you are obviously not very educated with the practices of bitcoin businesses, and unfortunately that is no-one's fault but your own.

Firstly, you should see this post (funnily enough in another Coinabull thread), explaining how a metals trade works; https://bitcointalk.org/index.php?topic=152575.msg1619768#msg1619768 (credit: rptiella)

Frankly, as others have said, you should consider yourself lucky that Coinabull are offering to buy the metal back off you, seriously. The fact that they are doing so at market rate is quite obiviously the correct course of action as any other would cause them to unnecessarily lose money, and they have done nothing wrong.

Secondly, before spending a large amount of money, and especially if you are spending it on somthing you know nothing about (precious metals), in a way you obviously do not fully understand (bitcoins), you should first seek information on the product and on the company. This may -shock horror- involve typing their name into google along with the word "review". Also, skim reading the terms of service (ToS) doesnt go amiss usually, when you have selected your business of choice.

You should, at a bare minimum, always read a companies return policy - it amazes me how people act surprised when a business quotes their own ToS, which was and always will be, freely available to the customer, both before and after the sale.

You have also been pretty immature about the whole thing; you "changed your mind" 18th April, which you are entitled to do, demanded a refund, which you are not entitled to, at which point this request was granted kindly by coinabull and your options laid out to you. So after 3 days you have started a SCAM thread, which is very childish and a blatent attempt to exploit coinabulls public rep in order to have your request dealt with faster, basically blackmailing them.

You were responded to April 21st (he's obv working Sundays) which is 5 working days after you originally requested a refund. This is not ideal, but they are not obliged to respond any faster (AFAIK). This does not denote a scam. Far from it. 24th April you are still claiming that you have had "nothing", which again is not strictly true.

It seems to me, you made a bad trade, lost some money and now you are being a petulent child about it, bitching on forums etc because you are upset that you got burned trading somethign you didnt understand.

Perhaps for future bitcoin purchases you should understand one thing; bitcoin is not yet a currency, it is more a commodity (although it can really be thought of as both). Vendors accepting bitcoin are really taking it as they would gold, silver or coco pops: you charge them the amount of commodity at market price to get equivalent (example) dollar price, then, upon recieving gold/silver/coco pops/bitcoins, immediately cash them out to desired currency.
In this way, bitcoin is really facilitating, free, fast, (anonymous) payment.

In the same light, you do realise coinabull's prices fluctuate in bitcoin, in real time, in line with the BTC/USD echange rate. This is because hey are really working in dollars, like all other vendors (for now), or did you think they were randomly charging for gold?

If anything, Coinabull need to have faster customer service response times, granted, but in this exchange, to me, you appear to be the bad guy.

Sorry bud, I don't feel sorry for you at all, and think that you shoudl take this as a lesson.

/rant

Edit: Spelling

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April 30, 2013, 11:09:36 AM
 #30

Also, *no* precious metals dealers allow refunds for reasons described above.  People would just cancel orders if the price changed to their benefit:

http://www.apmex.com/MarketLossPolicy/Default.aspx

http://www.providentmetals.com/faq.html#change-order

http://www.gainesvillecoins.com/policies.aspx

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April 30, 2013, 02:29:20 PM
 #31

Alright. It seems I (and some others) lost our money and basically you think it's okay. Shocked

Virtuall, how exactly have you lost your money? You bought gold, which is a non-refundable sale. And you will recieve gold. Unless you changed your mind AND Coinabull decides to agree to purchase the gold back off you. How can you not understand this?

Coinabull have not scammed you. You can easily check their delivery times etc on the site.

Their customer service seems shoddy, but again, this is unrelated to whether or not you have been scammed.

If you check some other Coinabull threads, you will see I have weighed in with contrasting views; the thread where someone's package got lost after he paid for insurance, this should earn Coinabull the scammer tag, pure and simple.

In this way you can be sure that I am not just some Coinabull shill. I am merely judging the information presented to me in the threads on its merits, on a case-by-case basis. I'm afriad yours does not warrant even further discussion.

Quote
"Someone sold me BTC when the price was $250 but now I don't want them. But he won't give me all of my money back, only what they are worth now. SCAMMER! Waaa!"

Do you see the parallel?


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elebit
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April 30, 2013, 03:19:23 PM
 #32

Could you please tell me how can I scam them by simply requesting a refund?

Earlier you stated that they DID offer you a refund! Did they or did they not? You have to be clear about this.

It's just that you wanted them to buy back your metal in bitcoins again not for today's exchange rate but for an older exchange rate which they would lose a lot of money on.

That's just crazy. You can't milk retailers by asking for refunds to yesterday's rates. They would be bankrupt in an instant if they let their customers do that.
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April 30, 2013, 09:19:50 PM
 #33

Since the title was confusing for some of you I edited it Smiley

OK mate, glad we are on the same page in the end!  Smiley thanks for changing the title too; it will make it clearer for new readers.

Coinabull should have the scammer tag for other reasons (IMO) but in your case, unfortunately you have just suffered from their infamously poor customer service.

Hopefully this thread will get the recognition you want at the company so that you can get matters resolved quickly.

<3

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May 01, 2013, 10:51:41 PM
 #34

Sad HATE scammers with a passion!

Andy B

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May 02, 2013, 05:11:17 PM
 #35

Nothing new. Angry

Dude, drop them an email and link this thread. Nothing a company hates more than bad pr from a disgruntled customer with a voice, especially to a market that is their customer base (here).

Trust me corporations hate it when your treated badly, turn to YouTube and post them a link. Surprisingly things get settled pretty quick with a promise to remove it.

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May 02, 2013, 05:12:12 PM
 #36

Nothing new. Angry

Dude, drop them an email and link this thread. Nothing a company hates more than bad pr from a disgruntled customer with a voice, me specially to a market that is their customer base.

Trust me corporations hate it when your treated badly, turn to YouTube and post them a link. Surprisingly things get settled pretty quick with a promise to remove it.
Most companies, but not Coinabul. Take a look on this forum.
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May 02, 2013, 09:59:53 PM
 #37

Shame they should give a damn, it costs them. I was looking at using them as I had heard of them. You've saved me a lot of hassle, I will now take a wide swerve. Their loss!

Make my day! Say thanks if you found me helpful Smiley BTC Address --->
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May 04, 2013, 10:57:17 PM
 #38

Update:  it took exactly 1 month to receive my order...
So, they do ship what you order but absolutely lack on customer service and keeping you in the loop...
They should add more statuses, things like your coins have been ordered by us, we expect to receive our order on such and such date... then begin stating your coin is here, we are packaging, then we ship etc.. etc...
if they could communicate more steps along the way and tell us where our order is with respect to the expected life cycle of the order, coinabul would skyrocket with satisfied customers... but in my opinion, they aren't run by folks who give a shit about customer service...
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May 05, 2013, 08:47:07 AM
 #39

Wow great to hear that! Was it domestic US?

Shipping time is a little long, but at least you got what you paid for.

if they could communicate more steps along the way and tell us where our order is with respect to the expected life cycle of the order, coinabul would skyrocket with satisfied customers...

That's a big IF, but I definetely agree with you.


was received via fedex. was shipped to me from california
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May 13, 2013, 09:53:49 PM
 #40

Why did you cancel your order?

I've ordered from coinabul and only had pleasant experiences with them. They are slow, but they will get you your gold.

When you say slow, how slow have they been in your experience?  I am 3 weeks out and my oder is still listed as "processing".  I have emailed 3 times with not response.  This is actually my second order, last time it shipped after 2 weeks and they responded to emails (not fast, but at least they responded). 
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