19 Sep '13, 6pm
$287,859 refunded from BFL - against their will #bitcoin
It's such a joke that people here praise the irreversibility of btc transactions but run to mommy paypal crying. Those who paid with bitcoin were never given the option for a "reversible" method like escrow - presumably because the funds were being spent to pay vendors. It's nothing more than an indicator of the space we are in at the moment. The mining market is hotter than ever, and BFL's tech lead has disappeared on their currently shipping products, resulting in lower profitability and increasing frustrations among customers. It's no surprise that reversing payment is an option that some are taking. All other things equal, it is probably the most rational move. BFL should have been able to better prepare for this type of event, given these factors and their responsibilities as a merchant. They have set up what seems to be a customer service nightmare.