Bitcoin Forum

We have 15,000 BTC for sale at $0.20 per BTC (below market price). We only accept cash by mail.

http://www.bitcoin2cash.com/

selling 25 BTC for 1 USD and then buying back 200 BTC for the same 1 USD

You are to trying to make a profit margin of 87%.

Noone can be so foolish to do that!

Nice try.

How do you think I got 50,000+ BTC in the first place? ;D

Where are you located. I'll buy them.

However, I suspect you're trying to move the market with zero coins.

Just curious, why not use mtgox? You can sell 25k on there right now for more than .04

I'm running a business and trying to establish a reputation for safe cash transactions. All my information is at my URL in the first post. Feel free to contact me by email if you require more information.

Do you accept wire transfer?

2All: any idea how to secure transaction?

I only accept cash by mail.

Would you consider sending bitcoins first? Would you consider escrow, with that being a trusted poster on this site?

Or, is the only way going to be sending you coins first, then waiting for cash?

I only send cash/bitcoins upon receipt. This is why I'm trying to establish a reputation. I'm hoping people will take the risk with smaller sums first and then move up from there.

It is unlikely bitcoin2cash will establish a positive reputation from their efforts in this manner.
Cash by mail could possibly become "lost" and therefore create profit for bitcoin2cash.
Only a percentage of the incoming funds need to be "lost" in order to generate profit.


e.g. the first us $1.00 sent to them will supposedly trigger bitcoin2cash to send 25btc.  However, current market indicates: $0.06195 each for BTC25 ($1.54875) at mtg.  Total cost for BTC25 is $1.54875

Therefore, in order for bitcoin2cash to afford sending 25btc, they will require at least $2.00 which will then produce an estimated $0.45 worth of profit.  Therefore, one of the two "$1.00" payments received will be claimed as lost.  I would claim it as lost if I were pursuing same scheme.

He's offering a good deal in order to establish a good reputation at which point he can charge a premium. Also he can keep stocked on the cheap if anyone wants/needs to get cash in the mail for their bitcoins. 200BTC/1$ does seem extreme though. I'd be interested to know if you get any takers on that.

As does
considering: $0.0639 each for BTC200 ($12.78) at bcm:pp.  Total amount for BTC200 is $12.78


This is a possibility.  Perhaps they are trying to shape the market with this service, however, I am certain that since it requires mailing monies, that it will not succeed as well as mtgox or bitcoin market which use Internet-based monies and do not require any snail mailing.

Snail mailing has pros and cons. This will not result in a tight market, but it will bring in some very privacy conscious people and those who cannot use PayPal, etc.

That's libelous. Watch your wording since it sounds more like a claim of what will happen rather than hypothetical scenario. This is exactly the kind of thing that can damage my business.

Would you accept euros ?  What would be your ask for that ?.
How many bitcoins would you give for one euro ?

I've already addressed this: http://bitcointalk.org/index.php?topic=1303.msg14437#msg14437

No, I accept USD only. You can convert your currency to USD at most banks or airports.

I'll do that, since your fares seem better than bitcoin4cash.

Please contact me by email and let me know how much you are sending so I can reserve the appropriate number of bitcoins for you.

done :-)

Please stop trolling.

fair enough. Good luck

Would you mind posting the 50,000 for sale at mtgox at the exact price of .0900 so I know you have them?

In all seriousness, I graduated from the University of Alabama, and was thinking of going for this week's game on saturday. If I knew you had the coins, I wouldn't mind driving to huntsville to arrange for an in-person transfer. I was thinking I'll buy 25k coins for $1,000?

+1


+1

---

+2 for TTBit :)

I'm not meeting someone off the internet and I'm not trusting my bitcoins to another website. I'm not sure how mtgox works but I assume I would have to transfer them to mtgox in order for mtgox to verify I actually have that much.

If you are serious about buying from me then make a small purchase first, whatever you feel you can risk and we can go up from there. If I were committing mail fraud, you have my post office box address and the authorities would easily be able to locate me.

http://uscode.house.gov/download/pls/18C63.txt

It should be easy to prove he has the 50k if he could sign something using the private keys that hold these 50k, shouldn't it?

Of course that doesn't prove he'll sell them at the price announced, but at least prove he has them, or at most, proves that somebody who has them is his friend.  ;D

I'm not jumping through hoops. Either you do business with me on my terms or not at all. If you don't trust me and can't risk losing any money then don't take the risk. In a year or two after I'm well established in the business things will be different. I'm trying to get in on the ground floor as a trusted cash exchanger which will be a lot more valuable and legal than a few quick bucks committing a federal crime.

Please stop derailing this thread. The only proof you will have that I'm honest will be once you have the cash or bitcoins in your possession.

You could just send the 50,000 BTC to yourself and the transaction will be visible in the block chain.

If that's the case then you should already be able to see the number of bitcoins sent to my address which is 1CRZpkKKAt7G5uiK4JPBjBJGnozgiatFAs.

http://bitcointalk.org/index.php?topic=30.msg2452#msg2452 - July 12th: Automated system and complete website coming soon. Three months later still no soon?

Please stop derailing the thread.

bitcoin2cash: "You could have easily parsed the block chain yourself and found an address that has a suitable balance."

Additionally, your very first post has offered a similar deal and you haven't established much of a reputation as a legitimate business as far as I see.  Also, google results for the Bitcoin address do link to a Russian site and Russians... stereotypically scammalicious, imo.

There are some people that pursue an established sense of trust or naivety and "try" deals like these only to later learn their mistakes.
Additionally, there are some people that pursue an established sense of distrust or awareness and proclaim illegitimacy.

If you truly are legitimate entity then you will accept both negative and positive feedback and only reply on those that merit a response.  To try to squander or deter negative feedback or review (even as a noncustomer) seems rather implicative of your intentions.  A more friendly perspective would definitely help to establish a positive reputation.

Consider restaurant industry for example.  Waiters and waitresses may have horrendously difficult, obnoxious, greedy, rude, etc customers, however they are still treated nicely as any other customer.

e.g. I may be horrendously difficult, obnoxious, etc, buuut, I may still potentially be a customer that will help yuor business to succeed.  If you are legitimate, you will probably focus on efforts to encourage such business.

I guess I also have the ability to time travel since I published that address on this website on July 13th back when I had about 100 BTC and was only buying BTC, and not selling them?

http://bitcointalk.org/index.php?topic=30.msg2452#msg2452


One of the links goes to some Russian website where someone was discussing my offer. The rest of the links go to these forums and my URL where I originally posted this address.

Stop trolling.


You haven't given any legitimate feedback because you're not a customer. Do business with me and then I'll take your feedback seriously. Otherwise, you're just looking to make trouble for me as far as I can tell.

http://bitcointalk.org/index.php?topic=1303.msg14562#msg14562 doesn't seem very business-like.

I obviously disagree. I have no problem addressing honest criticism but you seem more interested in defaming me than anything else. Also, these are internet forums so it's rather naive to expect the same kind of atmosphere as your local restaurant. I'm going to point out trollish comments when I see fit. If you don't like it then I suggest you take your business elsewhere.

I seriously warn everyone doing business with bitcoin2cash

Your warning isn't based on anything of merit.

I noticed that you didn't acknowledge this gaping hole in your argument which leads me to believe that I was right about you, that you're only interested in defaming me. If you were being honorable you would acknowledge how unlikely your scenario is in light of this new information. Why ignore the evidence?

bitcoin2cash,
I would like to buy 50,000 bitcoins at $0.04 each, but I can not agree to your terms. I will give you the benefit of the doubt that you may be legit, but I will not give you the benefit of my money.

If satoshi posted he wants to sell 50,000 coins at 0.04/each, I'd probably ship him cash and wait for coins.  (Although, this would open a whole new can of worms  :P )

Good luck with your business.

First of all, I wouldn't allow you to send me that much cash in one transaction. I would insist that we trade in smaller denominations. Why aren't you willing to make smaller trades at first and go up from there once we have established a relationship?

If I sent you $1.00 and you sent me 25 coins, would you then believe that I am trustworthy and start sending coins first, before I send cash payment? I don't think your business model will allow this.

No but you are welcome to buy $1.00 at a time until you are comfortable with $5.00 at a time and so on.

First of all, I wouldn't allow you to send me that much cash in one transaction. I would insist that we trade in smaller denominations. Why aren't you willing to make smaller trades at first and go up from there once we have established a relationship?
[/quote]

This is yet another sign of bad practice. Requesting people to do only smaller transactions creates even less value as the transaction costs (time, mailing, etc.) are way to high.

Stop bothering us with your improper business model.

The cost of a few extra stamps is outweighed by the risk associated with sending large amounts of cash in the mail.

Nobody is forcing you to read my posts. If I'm bothering you then stop reading.

Seriously S3052, if you don't like it or it bores you then do something else.

I'm going to give it a try when I get around to getting a stamp and envelope.

FreeMoney: fair point.
I only shared my concerns to protect others.
All: sorry if I go a bit too emotional

In this kind of transaction, the one who makes the "first step" is obviously the one who has the slowest reputation.  bitcoin2cash has a better reputation since is has a website, even trivial.  So if I'm not happy it would be easy for me to just say "bitcoin2cash is a scam".   Now, if I was Satoshi, I would easily convince bitcoin2cash to send bitcoins first.  Because my reputation would be superior to bitcoin2cash's reputation.

@bitcoin2cash:
Just find a way to use the private key of this address of yours to sign something and post it on your site. This would at least prove you own 50kBTC.

Regards

70,000 BTC has been sent to the address that bitcoin2cash posted. I don't have tools to see spends from an address, so I can't say what the current balance is.

Also, make a note that I posted that same address on these forums on July 13th so unless those transfers were before then, it's safe to say that I'm actually the owner of that address. So, can you verify the time frame that the transfers were sent?

You can also send them to the global developer's bitcoin verification address: 1PaUpJr6PEHjGxgL7YtwjsiGcAYqsZ8vD.

Coins won't actually transfer, only verification of the amounts.  :P

Actually, the correct address is 1PaufQctEbWBdBr8dYBdBDKcJ6YgAnQdsb

Two transfers: block 80339 (12 days ago) and 82659 (1 day ago).

I sent some money via snailmail.  Will report to this thread if I do or do not get bitcoins in the next week or two.

I'm not worried about receiving coins at said rate for $1-$5. I'd like to buy a majority of offered coins w/o stuffing $100 bills into an envelope, and taking all the risk. Still, please keep us updated.

That's not a sign of a bad business model.  That is a sign of intent to build a trust relationship.  If he had asked someone to send more at a time, then I'd be suspicious.  Start with, say, $20.  At that level, the cost of the stamp is still favorable to paypal.  If you wish to save as much on the stamp as possible, consider doubling your cash with each transaction.  This way if this thing turns sour, there is no point at which either party could have done significant harm.  If you double until you get to an uncomfortable level, stop doubling; and this protects you from dishonest mailmen from doing significant harm.

I just sold $80 worth. There's 48,000 left with about 12,000 reserved.

i am .0605 bid on mtgox for 15,000 if anyone wants the arbitrage

Well, I'm not very good at those stuff, but isn't bitcoin2cash's bid a better deal ?

I mean, if I want to buy btc with 1$, with you I get 1./0.0605=16.53 BTC, when bitcoin2cash offers 25 BTC for the same dollar.  What do I get wrong ?

Trust. Or lack thereof. And that comes with a price apparently :)

He is bid for 15,000 @ .0605. You can sell him his 15,000 at .0605 then buy them at 0.04 each, making $0.0205 15,000 times over, or $307.50. Catch is you got to get the 15,000 at 0.04.

Ok I get it now.  Thks.

I'm still waiting for my bitcoins from bitcoin2cash.  Hopefully this week...

+1

I'd like to say something about bitcoin2cash.  The postal address has explicit name "bitcash2coin" in it.  I'm not sure it's a good idea.  Ok, right now, nobody knows bitcoins.  But eventually this address should be changed in something more discrete, imo.

There shouldn't be any combination with the word "cash" in it anywhere.

I thought it was common knowledge that you don't have to write a name on a letter at all, just the address. That's how I do the return address as well. The name isn't required. I've updated the website to make it clearer.

I confess I didn't know that the name wasn't required.

No bitcoins from bitcoin2cash yet...getting a lil nervous...

Chill out.  Even if you get screwed, it won't be the end of the world, right ?

I think the guy from bitcoin2cash has much more interest in being honnest than in being a thief right from the beginning of his business.

Personnaly I'm quite confident that I will get my BTC this week.

I just checked the post office today. There wasn't anything there. I'll notify you as soon as I receive it as well as send the bitcoins.

Thx for the response.

Well, looks like I am not going to get my bitcoins.  The letter I sent to bitcoin2cash arrived in my mailbox!!!  ??? ??? ???

On the envelope it says "Not deliverable as addressed.  Unable to forward."

I double checked and triple checked the address and it is the same as on the website.  Handwriting is very, very legible.

PO Box 6946
Huntsville, AL 35813-0946


Is this a glitch in the Post Office?  Strange...just to let you guys know I used to work for the post office so this is an anomaly.  I just wasted my forever stamp.

Hmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmm.........

Update: On the envelope the post office printed the zipcode+4 on it.  The zipcode is correct.  Very puzzling...

That's very strange. I've already received something from someone at that address. I've even been receiving mail from previous owners of the post office box as well so they seem to have no problem delivering mail. If you want to try again you are welcome to. Perhaps put a name on there, "B2C, LLC", if that was the problem even though I've confirmed with the local post master that a name isn't required.

I actually did write "Bitcoin2Cash, LLC" on the envelope.   ??? ??? ??? ???

I made a bitcoinblogger post about this... :-\

http://www.bitcoinblogger.com/2010/10/dangers-of-mailing-cash.html

Um, isn't it more like "the dangers of using the USPS"? Do you have evidence that the contents had any role whatsoever in the undeliverability?

I think any postal service would have some sort of danger to it, but maybe USPS has the highest percentage of lost mail.  It is dangerous to mail cash because the chance of misdirection, theft, etc.  There is a chance you could lose your money.  If I didn't put a return address on it my cash could be anywhere by now.

It would have ended up at the dead letter office. After that, they may have tried to redeliver it one more time.

Whenever consumer organizations do a test mailing in the UK, they find that about 1% of correctly addressed letters don't get delivered. So cut bitcoin2cash some slack if yours doesn't make it.

Is the PO BOX registered to 'bitcoin2cash LLC' or is in your personal name? I bet is is your personal name. The post office should not purposely deliver mail that is addressed to someone else.

The obvious scam here is I call myself a legit company, but have nothing to do with it, i.e.:

IRS Express Pay
1234 Main street
Myhouse, ST 90210

The USPS will not deliver that mail to Bob Smith's house at 1234 Main St.

You will still receive old mail and mail that has no name on it.

Do you have any kind of documentation from the USPS to back this up or are you just pulling this out of thin air? Also, can you explain why have I received mail addressed to "B2C, LLC" already?

Either way, I would suggest leaving the name off entirely as I've been told that it's not required.

Addressing to
Bitcoin2Cash, LLC
is different than addressing to
B2C, LLC

right?

Obviously, but since the post office box isn't registered to either of those then why would they allow one but reject the other? If they only allow names that were registered with the post office box then both would have been rejected.

No, I don't have any documentation, just personal experience.

I did something like this years ago where I called myself some company and there was an issue. I don't remember the exact details, but I finally received the mail, but the company name was crossed out.

Mailed $20 to b2c earlier last week. Hopefully it will go thru soon. I'll follow up here when the
transaction is complete.

I just sold $800 worth. I have around 28,000 left for sale.

I'm going ask something that I don't think that anyone else has.

Would you take a personal check, or a money order in lieu of cash?

No, I deal with USD cash only.

I also have everything reserved so I have no more bitcoins to sell right now.

I'm going to be restructuring the website soon to be more of a cash-only market with fixed transaction fees with us acting as a trusted middle party.

I'll post more news in a new thread once that's finished.

Yes.

My letter to bitcoin2cash wound up returned just like jimbob's  :o It was addressed exactly the same way as his letter.

My guess is that TTBit is right that USPS might get suspicious when the business name doesn't match the address.  Leaving out the name entirely is probably the right way to make our letters containing cash as inconspicuous as possible.

I got one too the other day and was wondering the same thing. I think it's just a mass mailing from the USPS. See here: http://southfloridapostalblog.blogspot.com/2010/09/inspection-service-do-you-know-warning.html

I can't believe people are sending cash in envelops with the word cash on the front.

I don't think that brochure was a coincidence either.

Well, I've been silly enough to lose 10$ this way.  My mistake.
I won't do it again.

Also I think if some guy had to steal 10$ this way, I guess he needed it more than I do.

Somebody stole your 10 dollars letter mail along the way?

Well, yes, I guess so.  And I've even been stupid enough not to write a return address.

I don't care much.  I've lost much more than 10$ many times in my life.

If nobody can, we'll have to consider removing the bitcoin2cash link from the "market" page.

Of course I'm still here. So far all my transactions have been with a single person and he hasn't volunteered to offer any feedback. Please do so if you're reading this.

Please be patient. You're getting ahead of yourself and no one has even lodged a complaint, which I'm sure no one will.

Its a shame you can't get these 50,000 coins onto MtGox and get $5k instead of only $2k.

I will verify this.  I successfully completed three purchases from bitcoin2cash, buying a total of 47,000 bitcoins at $0.04 each.  Thank you for the phenomenal deal!  Now, would anybody like to buy some bitcoins at $0.10?  :-)

The proposed site restructuring as a cash-based market/exchange site sounds like a great idea, given the problems faced by the other sites.  I'd certainly give it a try.  Personally I would prefer to see other options in addition to cash if possible, though.  There seems to be little risk in offering PayPal for withdrawals, for example.  Maybe there are other safe options for deposits, like bank wires or Western Union.  But I can understand if bitcoin2cash wants to stick to cash only and leave other exchanges to handle other payment methods.

I have finally received my bitcoins from bitcoin2cash.  Thx!!!  ;D ;D ;D

Lucky you.

I'll try again, with a smaller amount.

Just a suggestion/plug: try posting your offers on #bitcoin-otc . see http://bitcointalk.org/index.php?topic=1491.0

I have received my full amount of bought bitcoins from bitcoin2cash.  Looking forward to the next sale!

Grondilu, did you ever receive your BTC?

Is this offer still valid? ^_^

Also, did anyone actually get a successful transaction from him?

I got my bitcoins from him.

 I m interested in buying bitcoins at this price, please come in #bitcoin-otc channel so we can talk and make a deal .

 If you want a reputation, the reputation system in #bitcoin-otc is the best way.

You didn't contact me before sending the money so I didn't have the BTC reserved for you. I will be sending your $1 back.

Please send me your address again.

Also, I have 15,000 BTC left that I'm selling for cash by mail at $0.20 USD per BTC.

Please email me first to confirm the trade so I can reserve your bitcoins.

this is only cash right? Would you consider paypal?

No, sorry.

It occurs to me that with the discount you are offering it would be possible to order uncut $50 US notes online from :

http://www.moneyfactorystore.gov/50currencysheetsbeptestsheet.aspx

and have them delivered to you and still end up with a profitable transaction. The $50 x 8 US notes seem to have a 15% premium over their cash value.

Would you consider a hard online currency like Liberty Reserve?

I've had too many issues with sending cash in the mail recently.

My business is done in cash only.

I have also reserved all 15,000 for a buyer. Unless he doesn't send the cash, consider these sold.

Thanks!

Thanks again. Stop by my island some time.

http://wallpapersget.com/wp-content/uploads/2012/07/exotic-tahiti-oceania-paradise-tropical-island-beautiful.jpg

damn! $0.20/btc


ain't that something...

Did you buy that coins and still hold them?  ::)

I'll do the math. In 2010 when this post was created, it would cost you $3,000 to buy 15,000/BTC for only $0.20

Now, imagine if you Bought all those bitcoins, and forgot about them until now today.. "oh shit, I've got bitcoins!"..

Lets get to selling for the market exchange prices today!

Sell: 15,000/BTC X $109/USD* Estimated = You made: $1,635,000 USD

In 3 years time, you'd be a millionaire because of bitcoins..

That's $545,000/year just because you had $3,000 to throw
on an *IDEA* that Bitcoins would be worth something later.

Crazy how opportunity hits us in the head, and we couldn't see it at the time.

Not my deal, I'm just imagining what it would be like.  :D

Someone told me about bitcoin in 2011, but at that time it was just the idea of begin an egg... At that time it was impossible to understand/use unless you were a computer nerd.

And of course if you bought at $0,20 you will probably sell a good part of them when reaching $5, $10 and so on.

So, unless you really forgot them is a miracle if you still keep all your bitcoins.
I can't imagine if now you come back to take your 15,000 btc, and you forgot your password... LOL suicide?

hindsight 20/20, it's the oldest phenomenal in the market.

In 2010 when btc was at $0.2

1) Noone knew its future, at best it was believed it will stay flat. Would you invest $3000 at that time in something throwaway? no sane person would

2) Even if you did, when btc went up to $20, 30, 40, it is almost a certainty you would dig up your dusty wallet and sold all of it, it's human nature.

To be able to dump $3000 in something throwaway, then continue hold it when it gained 10000% is very difficult thing to do, even though looking back it may seem like the easiest thing to do...

So let me try to understand this

Selling 15,000 BTC at $0.20/BTC

Does this mean I send you $0.20 and you send me 1  whole BTC.

So for $2.00 I received 10 BTC.

If this is the case give me the mailing address and what I need to do, Im down.

Sorry to disappoint you,but look at the thread date :p

Can I haz a time machine?

Darn, it. Im always to slow for this stuff. Would have been awesome though

Don't be a fool. You are still on time. This is just the beginning.

Really?  So if I give you an address and offer you some btc slightly under market you'd send me 3 grand cash right now?  Keep in mind OP signed up

Name:    NghtRppr
Posts:    1922
Position:    Hero Member
Date Registered:    July 13, 2010, 01:27:27 AM
Last Active:    July 10, 2012, 09:19:24 PM

And post is on September 28, 2010, 10:00:37 PM.  And he would've had all of 10 total posts at the time.  I mean really you'd send 3 grand cash in the mail?!?!?!?!?!?! 
:o :o :o

Lol, where did 3 Grand come in, and no slightly below. But $0.20 for 1 BTC, you bet your ass I would send you money.  I'd mail you a bright shiny crisp $5 for 25 BTC.  I wouldn't risk anything more that 5 or 10 to test it out. If it didn't pan out, it would feel like buying a Scratch of Lottery ticket and loosing.  For a $3 Grand Transaction Im meeting you at the bank. Transfer me my BTC and the window lady will hand you the money. Nice 3rd party arbitration.

Wow, that topic title is completely misleading.

I read it, .20 cents / BTC. Wow thats a deal. Then the OP says .20 cents /BTC BELOW MARKET PRICE.

Wow, just read it again. Great use of the Parens there.

That's all you noticed after reading it again.
 :o

Well the mail by cash is standard operating procedure in scams. The misleading title is whats interesting.

BTW: I didn't read any of the other 6 pages on this topic so I actually have no idea if its a scam. It could be legit maybe. idk.

really epic , cant believe it , i wish i had heard about bitcoin 3 years earlier

Most probably you'd have sold it cheap and now kicking your self for doing so. I'm not trying to mock you, but there's a reason there aren't that many Bitcoin millionaires on this forum, and many of those that kept lots of Bitcoin for so long (through the multiple crashes) simply didn't have rational expectations to earn that much. Satoshi, the person who had absolute faith in Bitcoin, almost never cashed out.

LOL so much BTC.. This is like that pizza.  ;D

whenever the price falls and read around "bitcoin is dead, bitcoin has failed" I come to read this thread and LOL

#2 :D

I got a shock initially, then I look at the date 2010!!!!!!

I don't like it when people say this. The expected value of 1 Bitcoin in the future (by full adoption) is $10,000/BTC. By this same logic you can say you wish you heard about Bitcoin 3 years ago, 3 years from now.

When I heard bitcoin for the first time, the price is 37$, and then drop to cents, and I didn't buy any, how fool I was!!

The price never dropped from $37 to less than $1.00

That never happened, keep dreaming.

I remember first getting into BTC back in 2011...I shoulda sold my car and my kidneys and bought as many as I could!

But anyways, when the price was <$5/BTC, a 20cent discount was pretty good!

Yeah ... it's worse when you knew about them but dismissed them because it was just "internet monopoly money".

15.000 x 100 $ =1.500.000 $ yay

http://www.bitcoin2cash.com/
shows "This premium domain name may be listed for sale. Click here to inquire"

so they have shut down?

 ;D same here, I was thinking on buying a lot BTC but saw the year and...  :'(