[123]

Hello HF Community,

I hope everyone is doing well. Sorry for making this thread but I wanted to share one experience I had with Cooligan MM service ( just because buyer wanted to use him as MM ).

So noobnoob approached me to help him with a Quiz for $350 BTC. Exactly 0.0265197 BTC ( $350 + $17.50 = $367.50 ) was sent to Cooligan to hold until I finish the Quiz. Simple MM service. Right ? Hold on.

So finally the day arrived to release the funds to me. I asked him to keep 0.0011 BTC ( he assumed I tipped him ), but it was for his 5% fees, I know this misunderstanding can be mutually solved. This Thread is not for this small misunderstanding but something else which is completely Unethical, Unprofessional and highlights his Greedy Nature. Please keep reading.

He sent me 0.02033863 BTC ( $330.96 ) .

Now here's the reason I created this thread. He sent me 0.02033863 BTC ( $330.96 ) and not 0.0254197 BTC ( $413 ) which is the real amount after deducting 0.0011 BTC ( his MM fees ).

Here are couple of reasons, why I deserve the 0.0254197 BTC.

● If BTC value would have dropped , MM wouldn't have paid from his pocket. He would simply cut his fees and send the remaining amount. Since, BTC value increased, I have full right to claim the right amount.

● MM always hold "BTC amount" and not "BTC Value" , take away their feea nd transfer remaining funds to other party.

● One example of above scenario is an experience I had with Kill Joy , he held BTC for me and sent all the BTC amount to me after successful completion of deal. I know he can confirm this if needed. The deal was for about $2300 and I received around $2500+ coz the BTC price was increased. I'm pretty sure I would have received the less value if BTC Price would have dropped.

I would love to hear the opinion of Community Members. Thanks !!

[123]

If anyone were to get the extra $, it would be noobnoob as the contract was for you to receive the $ amount after the work was done, not receive the $ amount early and let the value increased.

I'm happy with this.

[Zexi]

Middleman receives x.xx BTC amount + his fee from the buyer, middleman releases x.xx BTC amount to the seller/provider of services. It's simple as that, it's buyer's problem/luck if BTC value goes up or down.

Everybody makes mistakes i doubt Cooligan had bad intentions.

[123]

Lots of middlemen pay $ amount out when it's based on the $ amount in an agreement and the value went up, but if the value goes down send the btc amount regardless. So ur being a bit of a dumdum.

You really sure about this ?

I think otherwise. I would love to hear Kill Joy 's opinion on this as he runs a successful MM service.

[Sh0w3n]

I don't know OP or the MM, but from my experience this is true.

● MM always hold "BTC amount" and not "BTC Value" , take away their feea nd transfer remaining funds to other party.

[flavoral]

Mind posting a screenshot of the contract?

[123]

Is that a meme? You're a greedy, unprofessional person.

"why I deserve". sounds like all you care about is getting extra money you aren't entitled to, not that you'd be happy if noobnoob got it.

Why don't you consult with Cooligan as I have already mentioned this same thing to him around 30 minutes ago.

Either I receive the funds or noobnoob gets back. If you wanna see the convo screenshot with him, I can do that too :)

[Net]

I don't know OP or the MM, but from my experience this is true.

● MM always hold "BTC amount" and not "BTC Value" , take away their feea nd transfer remaining funds to other party.

Agree with this. Altho I just think this whole mess is just a lack of communication problem.

[123]

Middleman receives x.xx BTC amount + his fee from the buyer, middleman releases x.xx BTC amount to the seller/provider of services. It's simple as that, it's buyer's problem/luck if BTC value goes up or down.

Everybody makes mistakes i doubt Cooligan had bad intentions.

Yeah. Thanks for confirming :)

I have been using MM services since years. I was fairly sure that's how "Holding BTC" works.

[Zexi]

Yeah. Thanks for confirming :)

I have been using MM services since years. I was fairly sure that's how "Holding BTC" works.

Cooligan made a honest mistake, but noobnoob has no rights to the profits. You are the only person entitled to the funds that are left over from the deal.

Only saying this because noobnoob wouldn't have sent more money if the BTC value dropped below 300$. The risk of BTC losing value is a risk you are taking while a middleman holds your funds, no one else. If it goes up you are lucky, if it goes down you are not. You always get the same BTC amount.

Cooligan should just send you the remainder of the funds and you should put this behind you.

[123]

i have and that's why I believe you're a self-entitled, greedy, unprofessional bitch here.

Alright.

I respect your opinion.

[flavoral]

Not clear terms and miscommunication as usual.

I personally think that if the deal is for $350 regardless of the currency a $350 should be released, but I'm no MM. However, bitcoin isn't a stable coin, which puts up in the 2 usual situations of "Who's gonna cover the difference if it goes down" and "who's gonna take the interest if it goes up".


123 Seems like you already down for a resolution which is waiting for noobnoob to just confirm who takes the interest.

[123]

Not clear terms and miscommunication as usual.

I personally think that if the deal is for $350 regardless of the currency a $350 should be released, but I'm no MM. However, bitcoin isn't a stable coin, which puts up in the 2 usual situations of "Who's gonna cover the difference if it goes down" and "who's gonna take the interest if it goes up".


123 Seems like you already down for a resolution which is waiting for noobnoob to just confirm who takes the interest.

Although Zexi says I'm fully entitled to receive funds.

But I'm more than happy to be released back to noobnoob although I'm 100% sure if the BTC value would have dropped overnight, neither noobnoob would have covered anything for me nor the MM.

[Zexi]

Although Zexi says I'm fully entitled to receive funds.

But I'm more than happy to be released back to noobnoob although I'm 100% sure if the BTC value would have dropped overnight, neither noobnoob would have covered anything for me nor the MM.

If the funds go back to noobnoob, this is gonna be the biggest meme ever.

[Yajat]

I also think OP that you should receive the BTC value which is shown when you made the contract not just the USD value. This is just my vision over the things. Hope you guys resolve this !