Bitcoin Forum

Hello All,
If someone was to buy someone's Bitcoin for cash, should the seller discount it?
Let's say Bitcoin is at $60,000
Should the seller discount what they are selling a certain percentage since they aren't paying taxes?
I'm not sure how much of a discount, but maybe 5%?

I'm looking at this as a buyer that would pay cash for Bitcoin.

Thanks!

I think that yeah probably the price shouldn't be the same as the current prices, I think the current price is just the average or so in the market. So if you plan to buy bitcoins with cash expect that you might be paying less or more depending on how the bitcoin is going to be transferred to you.

The best deal would be 1:1, meaning $1 of fiat cash for $1 of Bitcoin, based on the Bitcoin price of whatever site you wish. You may use preev.com, Google, Binance, coinmarketcap, coingecko, and so on. It is all up to both of you. You will agree on it.

As to discount, it is mainly the prerogative of the seller, although you can always haggle over it. Sometimes, instead of a discount, Bitcoin sellers would even add a certain premium.

Finally, please use a reliable escrow, especially if you don't personally know the seller.

I've seen both ends of the spectrum, whereas some sellers sell at a discount and some sellers sell at a premium. There's honestly no right answer to this, and will just depend on what both parties(buyer/seller) decide upon.

Thank you for the replies!

Buyers and sellers have to pay tax according to tax laws at their nations. They are responsible to file their tax reports too.

Why do you care whether your trade partner pay taxes for his/her trades? It is not what you should care of.

When you trade Bitcoin with cash as a payment method, you will also need check your trade partner's reputation, trust, and trade history. It can only be checked if you do the trade on a third-party service and if that platform has those metrics for users.

Some trade partners might have money laundering activities and they are usually new accounts and will give you very good discount rates. Pay attention on discount rates, if it is too good and account age is too young and with very little past trades, please consider a few times before you trade.

Police or government can ask you to refund those stole money to the real victims and you might not get your bitcoin back.

There is no rules for what people should do, it all comes down to a simple principle called supply and demand. If there are many people trading peer to peer like this then the price would be down and you will probably see discounts too but if there aren't that many doing it then you will start seeing higher prices when you want to buy and very low prices when you want to sell your bitcoins because the one accepting your requests knows you have no other  choice so they maximize on their own profit.

it seems to be the case on p2p exchange. if he is buying 1BTC, 5% is a big amount which will discourage a buyer to buy a big amount of BTC. but those guys selling and buying BTC there are doing it for business i guess they would really increase rates. if that $60k is the market price then a little fee for less hassle for him in going to exchange and submitting KYC data is fair.

I think it depends on what they talked about before the make transaction.

There is really a good thing between buying bitcoin through cash so that fees will not bother you and you can have discount.

Hoping that you find someone who will make you pay less which can give both benefits from the two of you.

Yes, it depends because I am talking about how I have seen a transaction like this happen. I do like that it is a P2P because the fees are easily removed out of the equation.

It depends on a lot of things, especially if you are in a country where crypto or Bitcoin is banned, the price will be too hyped and you might have to pay more than 20-50% of the real price. This has happened in the past in many countries. If there is no restriction then there are many sellers who are willing to give 1:1 with only taking transaction charges as extra.

I don't know what taxes you are referring to but if it is the trading fee a seller or buyer has to pay on exchanges, I don't think it would be fair to your seller to have a 5% discount since trading fees only ranges to not more than 1%, base on the exchanges where I trade. For me, the best price for a P2P transaction is the price in between the buy and sell orders available on exchanges. But for BTC, the buy and sell price (spread as to many traders call it) don't differ that much but there are coins out there with a big spread so my suggestion could be applied.
But moreover, it's not wrong to ask for a discount if you do it politely and if the one you ask will agree on it. PS. be careful on your P2P transactions.

It would only depend on what would be the plan for the transaction of the buyer and seller, if the buyer wants to have 5% off and the seller accepted the request of 5% off then that is good. I also prefer buying bitcoin using cash than exchanges to avoid a huge amount of transaction fees, just always make sure that you are having a transaction to a legit buyer, always make a research first to the person before dealing, there are already a lot of scammers in the crypto world, do not send your money first if you haven't received yet the bitcoin.

It would depend on the seller if it is on rush I've seen some sell it at a lower price.
But for me I don't really think that they should give discounts or sell it at lower price they could choose any site that they want to follow the right price,
Since they both would save some transaction fee from it the seller wouldn't pay tax while the buyer wouldn't need to pay for withdrawal fee.

5% from $60,000 would be 3,000 and better use that money to buy more Bitcoin while you still can, today that would be around 0.05 BTC and it will probably be even less in few weeks.

Why would anyone make any discount and sell Bitcoin now when all world is going crazy with fiat money printing, and maybe people should do opposite thing and charge premium if they want to sell their Bitcoin.

OP, you can only ask for a discount IF the seller is who’s looking for a buyer in exchange for physical cash. But if you as a buyer is looking for a seller, it’s the seller’s final decision. In fact, he can also ask that you pay for more than the fair price to convince him to sell.

I will not discount my bitcoins below the market price, it's better to sell in the market than escrow, but if someone is selling cheaply I don't believe it must be fraudulent, because no one will discount BTC