I literally posted about this earlier today. Your absolutely right, it's bullshit. We payed for this content, we're entitled to it regardless of old gen and new gen.
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Yes. If a code on the website can give an emblem cross platform. Why can't the items already showing on your character be used crossplatform if we can log into another console of the same family? Major put off especially migrating to XB1 having this blacksmith shader yet can only use it on 360
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If there's a way to prove to bungie that you own it on the old console (like a screens hit of your character wearing the shader, or something like that) they should give those players the code. But honestly I gotta be real, this issue isn't that important to them.
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If it appears in the first place then that's proof you own it already as there is no other way for it to associate with your profile. Blacksmith used to show its colours but you couldn't add it back on if you took it off. Then they made it default colours show instead of the actual so it was deliberate