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Author Topic: Another Bitcoin Seizure? Please help!!! Or correct me if I'm wrong!  (Read 687 times)
itani101
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March 01, 2014, 12:49:03 AM
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I transferred bitcoins to domaincoin.net to renew my domains on there site and now they are saying that I'm not allowed to withdraw my remaining bitcoin balance(see photos below). I lost most of my coins on MtGox and was just trying to withdraw what I have left from other third parties. If you believe I have a right to my bitcoin balance, please message them here (it takes less than 1 minute): https://domaincoin.net/tickets/create/. Mention my username itani101 so they know who you are talking about. If we get enough tickets opened then maybe they will realize that they are wrong. Reply to this post if you created a ticket or if you disagree and believe that they should stay on their site forever. Thanks!

http://i.imgur.com/w784Wzq.pnghttp://i.imgur.com/7C7zPHE.png
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repentance
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March 01, 2014, 01:03:56 AM
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This is how pre-paid services generally operate (and here, at least, it's a way of them avoiding all sorts of financial services regulations).  It's not usually possible to get a refund if you've decided you no longer want to use the service so it's always wise to limit how much you pre-pay.  One way to get around it is to let someone else use your credit (ie, find someone who wants to register a domain and get them to pay you for registering it from the balance of your account).

The company is in the right in this instance.

All I can say is that this is Bitcoin. I don't believe it until I see six confirmations.
itani101
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March 01, 2014, 02:10:02 AM
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Even if I was never told depositing to my account was a "pre-payment"?
thanks for the reply
repentance
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March 01, 2014, 02:38:08 AM
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Even if I was never told depositing to my account was a "pre-payment"?
thanks for the reply

Their ToS don't appear to be on their site, so I have no idea what they specifically state.  That said, you clearly deposited in anticipated of putting funds on the site for future purchases (their domain costs are tiny fraction of the amount you deposited).  You didn't deposit in order to pay for something you'd already bought or were just about to purchase.  Whether "they" told you it was pre-payment for future services or not, it's pretty clear that *you* intended it to be that.

I'm not unsympathetic to your plight but it's commonly how businesses which accept pre-payment for use at a later time work (some limit the maximum amount of funds you can deposit for prepayment - telcos and ISPs do that here to avoid potential financial services regulations issues).

I'm not saying it doesn't suck for you, it does - but to deposit that much you must have either anticipated buying a *lot* of domains or erroneously believed it was somewhere you could park your BTC for safe-keeping.

Even if it was a service which accepted conventional currency, you still might not be entitled to a refund in the event you closed you account with them. You could look for advice from a consumer protection agency where they operate or you could ask them to consider giving you an ex gratia payment, but you're probably pretty screwed from a legal standpoint.  Any payment they make to you would more likely be an act of good will than out of any legal obligation.

All I can say is that this is Bitcoin. I don't believe it until I see six confirmations.
ISAWHIM
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March 01, 2014, 08:46:35 AM
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Contact consumer rights...

In essence, they are attempting to say that you purchased X-credits, worth X-BTCvalue. Even if that is the case, you should still be able to get a refund. (If credit, then they are not "holding your BTC", you just paid for lots of credit. Like buying prepaid rentals to net-flicks for $20... if you only spend $1, they don't normally give you back $19, because you need it. You purchased $20 of credit for rentals.)

However, they can not hold "overpayments" without a contract. Even if they claim that they can. Under "consumer protections", (well, if you live in the USA), you are entitled to all unspent balances upon closure of accounts for services, except where there is notable expenses that still need coverage. (Like cell-phone service where you actually are paying for service and that actual phone-cost which they make to look like it cost you only $0.99 for the phone.)

If you are unhappy with the service, and that specific feature of "funds-locking". You can further report them to the BBB and to "Consumer Reports", and the "Consumer protection claims department".

Though, they are not a bank... A singular request for overpayment is not out of reason. If this has been a reoccurring event, they might be able to "remind you of that", but they would still have to return your unspent funds, then considered closing your account, losing you as a customer.

Ask to speak to a supervisor, and if that does not work, then file the claim, and give them a copy to the filed claim.

Be clear on your issue, and be sure to include any information which will help them, to help you get the situation resolved. Beyond that, you would have to take them to small-claims-court, which I doubt they would show for, and you would instantly win, and they would be ordered by the judge to return the funds.

If you get nowhere with this.. you could always just sell domains, for BTC, and do the registration, and transfers yourself. Turn that 4BTC into 40BTC
btcjedi
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March 01, 2014, 09:50:24 AM
 #6

seems that you are totally right!
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