NSW Non-Delivery of Purchased Bitcoins from Bitxoin

[Jezza90]

Josh, as hard as it is to take. That probably would not be the most effective thing to do at this point.
If the company is having legitimate problems, destroying their image could simply result in the company's investors withdrawing, and the business crashing in a downward spiral into insolvency.
Which means no one will get their money back at all. Period.
As has been said, the best thing to do is to send them a formal complaint email, give them ample time to respond, and take further action if need be.
Destroying the business means no one will get anything.

Also the banks cannot reverse a cash-over-counter transaction, ive already been there.

As David has said, he hopes to have the matter rolling by monday.
It may be best to wait, lest we burn our bridges.

 

[jamesq]

True how can effectively to that? il get on a few forums n let people know

 

[Josh]

@Jezza90 I agree its not the best to tarnish the rep of a business.
I think you are giving this guy too much of a break, he is coming up with multiple stories and giving the next monday as an excuse to me as well. seeing as next monday has now passed i have run out of patience. He has contacted you once? No matter how busy he is, he should still have time to communicate the situation to his customers.

Basically he shouldn't be taking on people cash if he can no longer supply the product. He should have his funds split across multiple bank accounts to safeguard himself against the banks freezing his accounts.

I have asked for a refund of the funds i transferred to him and still no reply

The fact people are probably buying bitcoins off his site right now and also getting misled by what the site offers makes me sick!

Shouldn't run before he can walk

 

[jamesq]

Getbitcoin has stocked up again I see .. hopefully that's a good sign , wish I wasn't so impatient n just chilled for week now

 

[Josh]

Yeah i have been chatting too a support guy from getbitcoin about the situation and he mentioned that they don't carry that many coins so they do run low occasionally, they publically display their stock levels though and stop transactions when run out.

The following link is their company extract. The business address is on their so if your in QLD feel free to go find out whats going on and ask David face to face.
http://www.scribd.com/doc/228930020/BitXoin-Pty-Ltd-Shareholders-and-Directors

 

[Jordansorb]

It looks to me like David no longer lives at his listed residential address:

http://www.realkia.com/rental/22746-Unit-New-Farm-Qld-4005

 

[Josh]

Anyone heard from bitxoin??

 

[Jordansorb]

Nope, i've heard nothing.

 

[Josh]

I just had a look around the site and the buying option on the bitxoin.com website has been closed off, so thats good to know nobody else can join our situation now.

 

[John R]

@Jezza90's NCAT hearing about Bitxoin is tomorrow (Tuesday, 8 July). Will be interested to learn of the outcome.