Re:Sent $35,104.11 USD to CoinBase. Never received Bitcoins
by Cthulhu_ on Wednesday December 18, 2013 @05:16PM
(#6931254)
Likewise, unlike banks, there is no legal system in place or organizations that assess companies like this and determine whether their transactions complete and such. The downside of the Bitcoin market, pretty much.
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Re:Sent $35,104.11 USD to CoinBase. Never received Bitcoins
by dragonwriter on Wednesday December 18, 2013 @05:35PM
(#6931379)
> Likewise, unlike banks, there is no legal system in place
There may not be a well-developed specialized regulatory system in place with authority over some bitcoin firms, but in most of the places that bitcoin firms operate there is a legal system in place, and entering into a sale contract, accepting payment, and then failing to deliver the product is the kind of thing that is well within the scope of competence of most of those legal systems.