05 Jul 2019, 20:20
When I collected funds for Round4 in 2012, I recall people were asking for refunds when they had supposedly already received them. I'm wonder if anyone made a profit off their multiple refunds?
I don't know if this makes any difference, but when I was collecting, I'm pretty sure I never sent any money to 7bit directly. I believe I bank transferred money to Signature Plastics or 2 or 3 times refunded/paid people when instructed by 7bit. It was rather a stressful situation, wondering if someone was going to do a PayPal chargeback, locking up my account. I was relieved when the 3 or 6 month window passed from when I collected the last payment from someone, because I could finally relax about the chargebacks.
Opinion:
Anyway, I'd think that 7bit would only have a limited amount of cash collected via the EU bank transfer method, if any at all at this point. As for his silence, who knows? Hopefully he's okay, but probably stressing about these group buy situations. If he had the money to personally pay people back, I'm sure he would. These buys could have been easily (and perhaps were) torpedoed by a volunteer PayPal collector who decided to spend their GB collected funds on their own stuff instead of passing it on for payment. I, for one, was shocked that I was allowed to collect around $18k to pass to Signature Plastics because I said "Sure, I'll collect money to help finish the buy." I remember filling out the transfer paperwork to SP, and the bank officer said, "This money is for computer keycaps? Why?" One thing I thought though was at times it felt like current buy money was being spent to make up for previous Round shortfalls. I think SP deciding to only take full payment for orders could have made the 7bit's Round systems more difficult. Kind of like capping a top of a pyramid?
With any luck, people will get their refunds and their Round 7 caps!
Last edited by
blighty on 06 Jul 2019, 00:07, edited 2 times in total.