Post
Topic
Board Service Announcements
Re: New service for the bitcoin community (Bitcoin to cash with zero fees)
by
sayulita
on 27/06/2013, 19:58:52 UTC
Another thing we might want to keep in mind here...

I get quoted for x amount of BTC, and I have until 6 p.m. to deposit the money.

At 4:30, I go, deposit the money while I'm running various errands. I get home at 7 to find that my order has been released to someone else because I didn't provide proof of purchase in the allotted time frame. Now I have no BTC and no way to get a refund. In addition, the seller got a double deposit - what then?

All of this is purely theoretical, and food for thought.

You do not have until 6:00 to make the deposit. You have until 6:00pm to make the deposit and reply back to the support thread with your deposit slip.

Plus when you get quoted the price, the bitcoins are placed on hold and will not be sold to anybody else that day.



Right, but what I'm saying is what if I made the deposit yesterday, but didn't (or forgot) to send the receipts until today and you had already put the coins back up and sold them, where would that put me as a customer? You can't guarantee a refund since the cash went straight to them, and they've already sold their coins!

You are absolutely correct. If you made a deposit yesterday, and either didn't, or simply forgot to send us your proof of deposit, then you might be in trouble. I say "might" because there are multiple scenarios which could spawn from this hypothetical situation you have presented.

Frankly, it would take too long to attempt to walk down every "hypothetical" situation. I have faith that the majority of clients who take the time and effort to go so far as to visit a bank and deposit their cash into a stranger's bank account are going to continue their end of their responsibility which is to make us aware of the deposit.