SirBruce
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June 19, 2011, 09:10:27 AM |
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So far I am dissastisfed with BitcoinExchange.cc. They owe me money and have not paid me.
They gave me a quote Monday afternoon to sell my ~1.33 bitcoins and sent me a confirmation after sending them my banking information for ACH transfer. They say on the website that all payments will post with 72 hours. Thursday night I sent them an email. No response. Friday night I sent them an email. No response. Saturday night I sent them an IM on this board. No response.
Since Monday I have initiated, and received, a completely unrelated ACH transfer to my bank account, so I know it's not an issue with my bank. I'm sure BitcoinExchange will now claim that since it is the weekend, I can't expect my money until Monday. That may be, but that's a violation of their 72 hour pledge. Basically they've held my money for a week interest-free, free to sell it at their convenience on the market at a price higher than what I was given, without having to worry about cash flow issues. That's a nice racket.
Not only do I demand payment but I believe they should waive their % fee for taking so long. I cannot recommend anyone else use BitcoinExchange.cc because of this.
Bruce
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TheGer
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June 19, 2011, 09:19:26 AM |
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I can see how mad you must be losing out on your profit on ~1.33 BTC. What can I.... a concerned citizen of the Universe do to make it up to you?
Why don't you sit back for a minute and really think about the lineup of people waiting in line ahead of you that deserve to have their stuff dealt with first if such convenience cashing out BTC is such a burden on you I suggest you go grab yourself some LR bucks and play footsie around the internet trying to get some value out of you 1.33 BTC. I can only imagine the lineup of people he has waiting along with the large sums of money he has to shift around on a daily basis to make things work. I doubt he has a few hundred grand he can slush fund his cashouts with while taking in a small percentage of your 1.33 BTC.
If you like I will happily pay your inconvenience fee. how's 10% of your 1.33 BTC sound? If you like the sound of 10% of your 1.33 BTC let me know.
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SirBruce
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June 19, 2011, 09:23:29 AM |
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You're probably being sarcastic. I realize it's small-time but a ripoff is still a ripoff. I would say, if you feel bad for me, send me BitCoins, but as I can't seem to find a reliable way to convert BitCoins to cash, I don't know what I'd do with them.
1FzzmazWd459ZypL3hmbxduRtgWFbYMkuf
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TheGer
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June 19, 2011, 09:30:45 AM |
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I personally cashed out almost $600 with Bitcoinexchange. Ya it took a little longer than stated, but I'd feel like a tool complaining about waiting for some free money.
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SirBruce
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June 19, 2011, 09:56:35 AM |
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It's not "free money"... the only person getting "free money" is BitcoinExchange, which not only takes a percentage of the transaction, but also apparrently gets to sit on it as long as they like to sell whenever they like and pocket the extra profit, interest free, rather than service you in a timely manner.
I have no problem with exchange services that provide 72-hour turnaround. I have a problem with exchange services that advertise a 72-hour turnaround WORST CASE and instead provide a 168-hour turnaround (or never, who knows?).
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dkehler
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June 19, 2011, 04:16:57 PM |
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Well, the PayPal thing has obviously set BitcoinExchange back in terms of how quickly he can make transfers. People need to realize this. I personally have cashed out several thousand dollars worth of bitcoins and although latest batch took a couple of weeks, I got my money. Be patient.
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SirBruce
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June 19, 2011, 06:49:14 PM |
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If they've been "set back" in how quickly he should process things, they should have advised such in the email. Instead, I was told "Great, will get this out ASAP." which seems to have been misleading. Also, they should update the website.
The service is less than advertised, so I don't think I should have to pay the advertised price.
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TheGer
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June 19, 2011, 07:57:01 PM |
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I feel for you buddy... Losing out on the interest from 1.33 BTC must be a real heartbreaker.... Let me find a suitable country song to sing to you...
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SirBruce
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June 20, 2011, 01:05:16 AM |
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As predicted, BitcoinExchage claimed "it's the weekend" excuse:
> Please read the thread, ACH transferrs are not processed by banks on weekend. Furthermore, there are no ACH transaction fees to begin with.
>
> Your payment should arrive by Tuesday.
Again, the sale was confirmed Monday evening. At the latest he should have started the transfer Tuesday. The ACH transfer should have completed Thursday or Friday. The weekend would never be involved. It was only involved because he decided to not initiate the transfer until who knows when... Friday probably.
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TheGer
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June 20, 2011, 05:01:40 AM |
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Dude spot acting like a punk. Instead of blathering on about you 1.33 BTC to other forum members why don't you keep it to PM's and emails with BCE.
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SirBruce
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June 20, 2011, 05:14:45 AM |
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"Dude", I'm letting everyone here know that BitcoinExchange lies about their turnaround times and won't answer their emails. It was only when I posted here to publically embarrass them did they even bother to respond.
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TheGer
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June 20, 2011, 05:27:38 AM |
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At this point the only one that should be embarassed is you.
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frutza
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June 20, 2011, 05:44:31 AM |
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SirBruce, I have done business with BitcoinExchange and although it's not always real-time, it's NOT a rip-off either. Patience is a virtue, and your Lordship should know that!
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johnjohnx2
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June 20, 2011, 05:49:47 AM |
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Everything is frozen right now due to MtGox being hacked/KIA. Everyone just calm down.
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SirBruce
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June 20, 2011, 06:28:35 AM |
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Fiirstly, why is everyone preaching patience? If BitcoinExchange typically takes a week, that's their choice, BUT THEY ADVERTISE 72 HOURS WORST CASE. It's false advertising regardless of the reason, and intentionally deceptive if they routinely take a week as everyone here seems to be saying.
Secondly, again, they claim the weekend is the holdup, when it clearly is not; had they done the transaction on Tuesday it would have been done Thursday or Friday. So, this is again BitcoinExchange lying to customers, regardless of whether or not they always say this.
Thirdly, this has nothing to do with MtGox being hacked, as my transaction was made Monday. If it was, then they should have emailed me saying, "Hey, MtGox was hacked, your transaction is delayed, sorry for that, he's a partial refund." They have not, nor do I expect them to do so.
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TheGer
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June 20, 2011, 07:27:25 AM |
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You forgot to mention your 1.33 BTC payout. Make sure you get your interest on that eh champ? Don't take no for an answer...
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johnjohnx2
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June 20, 2011, 07:36:13 AM |
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You forgot to mention your 1.33 BTC payout. Make sure you get your interest on that eh champ? Don't take no for an answer...
Don't be an instigator. |
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TheGer
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June 20, 2011, 08:12:12 AM |
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don't be a  |
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SirBruce
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June 21, 2011, 01:18:03 AM |
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Update: Still no transfer today. It's now been a full week since confirmation.
Bruce
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johnjohnx2
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June 21, 2011, 01:29:59 AM |
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If he would post a statement in the thread of what is going on with all the delays and what not it would help us all out.
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