| >He got the bitcoins at today's price + $50 That part only happened after many people criticized the original response: (https://news.ycombinator.com/item?id=6930109) > Edit: your bitcoin credit has now been processed. It looks like as we were performing server upgrades last week a handful of jobs didn't run as normal. We should have certainly caught it and responded sooner so that was our fault. My deepest apologies for the delay and trouble on that. We've credited $50 worth of bitcoin to your account for the trouble, as a small way of saying thank you for bearing with us. This was understood to mean that Coinbase would honor the original price (868.91) and not the current price. The general impression was that Coinbase made the purchase at the current price (roughly 550) and is honoring the other price (868.91), which would mean that OP lost about (868.91-550)*40 = 12756.40 (and Coinbase would be pocketing the difference). People correctly noted that Coinbase's move was entirely inappropriate, and they were forced to change course (note the "Edit2"): > Edit2: we'll push through the bitcoin credit at today's price instead of the original buy price (which should be in your favor) since the mistake was on our part. The general policy with most financial firms is that firm errors should be resolved in a way that benefits the customer (so in this case, if BTC actually increased in price, Coinbase should honor the original trade price) |