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Tungsten (OP)
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August 04, 2013, 06:21:39 PM |
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Update.
After more than 2 days on hold - bitcoins were finally released from an escrow.
Buyer apparently helped by cancelling the order.
I also stopped accepting interac e-transfer as a payment method and will only use bank cash deposit from now on.
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Each block is stacked on top of the previous one. Adding another block to the top makes all lower blocks more difficult to remove: there is more "weight" above each block. A transaction in a block 6 blocks deep (6 confirmations) will be very difficult to remove.
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coqui33
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August 04, 2013, 06:35:33 PM |
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Glad to hear you got your coins back Sorry to hear that it took so long. Hope you gave him a "distrust" feedback along with a comment that warns the rest of us about that buyer.
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Tungsten (OP)
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August 04, 2013, 06:37:11 PM |
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Glad to hear you got your coins back Sorry to hear that it took so long. Hope you gave him a "distrust" feedback along with a comment that warns the rest of us about that buyer.
That was certainly done 24 hours ago! |
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rammy2k2
Legendary
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Activity: 1974
Merit: 1003
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August 04, 2013, 09:08:47 PM |
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thanks for warning, i wanted to use them
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joesmoe2012
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August 04, 2013, 09:21:44 PM |
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thanks for warning, i wanted to use them
If I were you I'd still give it a shot. 99% of the transactions i've done there went down without a hitch. Sure, once in a while you get someone trying to do something funny, but contact localbitcoins support and they are usually quick to help out (especially if you have alot of positive feedback and they can easily tell youre likely not at fault). |
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coqui33
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August 05, 2013, 02:32:39 AM |
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thanks for warning, i wanted to use them
Are you a buyer or a seller? If you are a buyer, you will not find a source than can beat localbitcoins for speed, reliability, and anonymity. If you are a seller, then you are always going to be the target of scammers, no matter where you sell, because bitcoin transfers are irrevocable. Even for sellers, though, I strongly recommend localbitcoins because the admins eventually respond to attempted scams of sellers. FYI, Tungsten and I are both sellers on LBC and we will continue selling on that site. |
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Soros Shorts
Donator
Legendary
Offline
Activity: 1617
Merit: 1012
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August 05, 2013, 06:09:15 PM |
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thanks for warning, i wanted to use them
Are you a buyer or a seller? If you are a buyer, you will not find a source than can beat localbitcoins for speed, reliability, and anonymity. If you are a seller, then you are always going to be the target of scammers, no matter where you sell, because bitcoin transfers are irrevocable. Even for sellers, though, I strongly recommend localbitcoins because the admins eventually respond to attempted scams of sellers. FYI, Tungsten and I are both sellers on LBC and we will continue selling on that site. I was a seller and I have given up advertising offers for exactly this reason. Now I just keep a look out of reputable buyers with reasonably good bids and sell to them. Of course when taking liquidity the price you get is never good, but I'd rather pay a little than have to deal with these scammers. |
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Tungsten (OP)
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August 05, 2013, 08:06:53 PM |
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I think the solution logic would be easy:
- IF buyer "marked payment as complete"
- AND dispute is opened by the seller
- AND buyer failed to present any proof of payment (image of receipt, snapshot of "paid" page, transaction id, whatever)
- AND buyer failed to respond on dispute within reasonable time, like 4 hours
- THEN - seller's escrow will be released and transaction cancelled.
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TimJBenham
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August 06, 2013, 09:26:05 PM |
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Dealing in Bitcoin is forex yet the non-exchange sales models used are ones that might suit dealing in second hand goods.
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You are a warlord in the outskirts of the known world struggling to establish a kingdom in the wild lands.
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topelius
Newbie
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Activity: 7
Merit: 0
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August 07, 2013, 08:32:44 AM |
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I think the solution logic would be easy:
- IF buyer "marked payment as complete"
- AND dispute is opened by the seller
- AND buyer failed to present any proof of payment (image of receipt, snapshot of "paid" page, transaction id, whatever)
- AND buyer failed to respond on dispute within reasonable time, like 4 hours
- THEN - seller's escrow will be released and transaction cancelled.
Seems that you don't understand what is the point of "Escrow service". It's target is to protect BOTH SELLER and BUYER. You think that it should protect properly only seller? I think that "two days in escrow" is better solution to you than lost bitcoins. You may use LB advanced settings to prevent such a situation in future. I have traded quite a lot in LB and I have been in same situation than you. But because first-time buyer limit is low, big amount of bitcoins never held in escrow for long times. |
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prophetx
Legendary
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Activity: 1666
Merit: 1010
he who has the gold makes the rules
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August 08, 2013, 09:41:06 AM |
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Also, I don't see how it would be a way for buyers to "squeeze" better prices. It might be competitors doing this, to get your ads away, but I don't see how the buyers would benefit from this.
he is saying it is like getting a free call option for 48 hrs |
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MPOE-PR
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August 08, 2013, 12:42:33 PM |
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Seems that you don't understand what is the point of "Escrow service". It's target is to protect BOTH SELLER and BUYER. You think that it should protect properly only seller?
I think that "two days in escrow" is better solution to you than lost bitcoins.
You may use LB advanced settings to prevent such a situation in future. I have traded quite a lot in LB and I have been in same situation than you. But because first-time buyer limit is low, big amount of bitcoins never held in escrow for long times.
You should probably flesh out that explanation. |
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Tungsten (OP)
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August 09, 2013, 01:35:03 AM |
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he is saying it is like getting a free call option for 48 hrs
Thats probably the best summary of the whole thread. Regardless of volatility (which should normally raise the price of call options significantly) - it's always a totally free ride for a buyer. |
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joesmoe2012
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August 11, 2013, 03:29:13 PM |
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he is saying it is like getting a free call option for 48 hrs
Thats probably the best summary of the whole thread. Regardless of volatility (which should normally raise the price of call options significantly) - it's always a totally free ride for a buyer. If you'd read any of my comments on this thread, you would understand this is not the case. |
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botsofbitcoin
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August 12, 2013, 10:56:50 AM |
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he is saying it is like getting a free call option for 48 hrs
Thats probably the best summary of the whole thread. Regardless of volatility (which should normally raise the price of call options significantly) - it's always a totally free ride for a buyer. If you'd read any of my comments on this thread, you would understand this is not the case. It's not 100% guaranteed, but I would think a lot of sellers will honour the price set when the trade was opened. I only found out recently that the option you described was available. |
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TimJBenham
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August 13, 2013, 02:27:41 AM |
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he is saying it is like getting a free call option for 48 hrs
Thats probably the best summary of the whole thread. Regardless of volatility (which should normally raise the price of call options significantly) - it's always a totally free ride for a buyer. If you'd read any of my comments on this thread, you would understand this is not the case. I read this one If I were you I'd still give it a shot. 99% of the transactions i've done there went down without a hitch. Sure, once in a while you get someone trying to do something funny, but contact localbitcoins support and they are usually quick to help out (especially if you have alot of positive feedback and they can easily tell youre likely not at fault). and I'm none the wiser. Maybe you need to explain it more clearly. |
You are a warlord in the outskirts of the known world struggling to establish a kingdom in the wild lands.
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timmyM
Newbie
Offline
Activity: 3
Merit: 0
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January 05, 2018, 06:22:40 PM |
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So this is my story which has not yet been resolved.
143 hours ago a buyer opened a trade for bank transfer, 0.13824BTC.
2.5 hours pass and no payment is made - I open a dispute.
The Admin writes immediately (I assume automated):
Please provide a proof of payment within 6 hours or the dispute will be resolved to the seller.
82 hours pass and in that time, I provide a daily screenshot of my account and upload a video of my account to prove no payment has arrived. I request the buyer initiate a trace on his transfer. The buyer constantly calls me a scammer and a liar.
Finally, 76 hours after the first 6 hour window of evidence has closed, Admin writes again:
*USERNAME OF BUYER*, attach a screenshot of your latest bank transactions, including this payment, in 8 hours,
Fresh screenshot of the full browser page including the address bar.
Meantime please contact with your bank and try to trace the payment, evidence please submit here.
Thank you.
3.5 hours pass and the buyer admits in the chat that the bank has not sent the money for whatever reason (I don't believe a word). He wants to change the terms of trade to cash payment in branch. I refuse immediately and inform him and Admin that I have put a stop on my account for 24h. The account will not accept any deposits cash or transfer. I request the ticket to be closed by Admin. No response. The Buyer has not logged back in to his account since around this time.
17 hours pass, we are now nearly 13 hours since the 8 hour window of evidence has closed. Admin writes again:
*USERNAME OF BUYER*, if you have an issue with the bank kindly please cancel this trade
if you made a transfer again attach a screenshot of your latest bank transactions, including this payment, in 8 hours, or the dispute resolve to the seller.
Fresh screenshot of the full browser page including the address bar.
This message was sent about 26 hours ago as I write this post. The window of evidence expired 18 hours ago, in the middle of the night.
Localbitcoins staff have not replied today and my funds are still in their escrow. A whole day just to close the dispute and release my coins. The buyer has not been seen for 48 hours. It is now past 8PM in Helsinki where the Localbitcoins offices are located.
I assume they have gone home for the weekend. It will be another 60 hours or so until they return to work, unless they work Saturdays.
Obviously I'm a little upset at their behaviour! I just cannot see any reason for them to act in such a manner.
Can anyone help? Is there anyone active here that works there or know someone there?
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timmyM
Newbie
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Activity: 3
Merit: 0
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January 06, 2018, 12:04:46 PM |
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My dispute was finally resolved today. It appears LBC work saturdays.
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crypyticdeal
Newbie
Offline
Activity: 1
Merit: 0
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April 04, 2018, 10:51:14 AM |
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These coin lockers are big problems in any OTC exchange. Exchange should have some fair policy so that sellers stop getting harassed.
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AngelSky
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April 04, 2018, 08:22:26 PM |
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These coin lockers are big problems in any OTC exchange. Exchange should have some fair policy so that sellers stop getting harassed.
Who is harrasted in the localbitcoins? directly you may write the e-mail or use the support team executive to find the issue has been resolved. I am using the LBC for more than 2.5 years to exchange my bitcoins into cash. I did not even find the single issue with these time. I do not know why very few people getting issue on using LBC. Dude, I do not know why you posted your problem in the thread created by 2013. Better if you have any issue please create with the issue detail on scam accusation mate. |
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